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ITI Ltd (ITI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523610 NSE: ITI Telecommunication - Equipment | Small Cap | ITI Share Price

₹312.75 1.60 (0.51%)

As on 19-Jun'26 16:59

ITI Ltd (ITI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523610 NSE: ITI Telecommunication - Equipment | Small Cap | ITI Share Price

₹312.75 1.60 (0.51%)

As on 19-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹30,052 Cr.
Current Price
₹312.8
52-Week Low / High
₹233 / 373
TTM EPS
₹3.1
TTM Sales
₹2,184 Cr.
Book Value per Share
₹19.3
P/E Ratio
102.63
Industry PE
135.6
Price to Book (P/B)
16.21
In line with its 5-year historical median
Price to Sales (P/S)
13.76
Higher than its 5-year historical median
EV/EBITDA
321.30
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-12.83%
Underperforms industry median
Return on Capital Employed (ROCE)
0.28%
Underperforms industry median
Return on Assets (ROA)
-2.15%
Operating Profit Margin
-1.7%
Net Profit Margin
-5.94%
Gross Profit Margin
-5.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
186.19%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
90.02%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹893 Cr.
Equity
₹960.9 Cr.
Face Value
₹10
All Time Low / High
₹6.50 / 592.85

ITI stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is ITI Ltd a good quality company?
ITI Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does ITI Ltd performance compare with that of its Peers?
Q.1 Revenue growth of ITI Ltd vs industry peers?
ITI Ltd revenue CAGR is 11.93%, compared to the industry median CAGR of 12.15%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of ITI Ltd?
Promoters hold 90.02% of the ITI Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of ITI Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 28.1% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
ITI Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 0%0%159%31.7%13.3%4.5%7.7%-3.6%-8.4%0.3%-
Value Creation
Index
NANA10.81.40.0-0.7-0.4-1.3-1.7-1.0-

Growth Parameters

Sales 01,5281,4751,6682,0592,3621,8611,3951,2643,6162,184
Sales YoY Gr.-NA-3.5%13.1%23.4%14.7%-21.2%-25%-9.5%186.2%-
Adj EPS 04.8311.60.11.3-3.8-5.9-2.53.1
YoY Gr.-NA-36.3%-66%52.4%-93.6%1170%-399.2%NANA-
BVPS (₹) 0-22.3-10.7-6.225.126.227.223.918.616.319.3
Adj Net
Profit
026623192.51459.4119-360-568-239293
Cash Flow from Ops. 0-347-11323.8-19994.1-437-294974-135-
Debt/CF from Ops. 0-3.4-10.952.8-6.115.6-3.7-6.41.9-10.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NA11.9%24.8%186.2%
Adj EPS NA-209.7%-225.2%NA
BVPSNA-8.3%-15.7%-12.3%
Share Price 27.6% 19.7% 42.2% 1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
024.216.75.370.44.7-14.5-27.3-14.117.1
Op. Profit
Mgn %
0-6.95.5-67.12.25.8-11-25.2-1.7-4.3
Net Profit
Mgn %
017.415.65.67.10.46.4-25.8-45-6.613.4
Debt to
Equity
0-0.9-1.5-2.30.50.60.60.811-
Working Cap
Days
008188547497741,1591,6621,762659311
Cash Conv.
Cycle
00129216128118191378426111-51

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,5281,4751,6682,0592,3621,8611,3951,2643,616
Operating Expenses + 1,6331,3941,7691,9132,3111,7521,5491,5833,678
Manufacturing Costs7115818241,1681,5347648468411,025
Material Costs5875575944674367214054492,428
Employee Cost 301226204231290222229232192
Other Costs 3530146475145706233
Operating Profit -10581-10014651109-154-320-61
Operating Profit Margin (%) -6.9%5.5%-6.0%7.1%2.2%5.8%-11.0%-25.3%-1.7%
Other Income + 541327345184161255534587
Exceptional Items 0000000035
Interest 153153115141160192210241224
Depreciation 172537424251495369
Profit Before Tax 266231931469119-360-569-215
Tax 000000000
Profit After Tax 266231931469119-360-569-215
PAT Margin (%) 17.4%15.6%5.6%7.1%0.4%6.4%-25.8%-45.0%-5.9%
Adjusted EPS (₹)4.83.01.01.60.11.3-3.8-5.9-2.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%

Valuation of ITI - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 1,1001,5281,7782,3202,4442,5362,2671,7841,566
Share Capital 560760897925934934950961961
Reserves 5407688811,3951,5111,6031,318823605
Debt +1,1791,2261,2591,2161,4641,5521,7561,6211,241
Long Term Debt30030030018030024018012060
Short Term Debt8799269591,0361,1641,3121,5761,5011,181
Minority Interest000000000
Trade Payables1,9762,2621,8052,1831,8851,6901,3771,5803,270
Others Liabilities 1,2982,0292,1572,0023,1193,7964,0914,6124,326
Total Liabilities 5,5537,0456,9987,7218,9139,5759,4919,59710,402

Fixed Assets

Net Fixed Assets +2,4792,5842,6272,6252,6352,6612,6842,6642,522
Gross Block2,4972,6272,7062,7472,7962,8732,9452,9612,882
Accumulated Depreciation184380121161212261297359
CWIP 10214916518916915013914219
Investments 413840383635353554
Inventories142156149173194193250222231
Trade Receivables2,1963,0802,6572,7612,5522,7302,4292,4553,991
Cash Equivalents 166325204245548306215836422
Others Assets 4287131,1571,6892,7803,4993,7403,2433,164
Total Assets 5,5537,0456,9987,7218,9139,5759,4919,59710,402

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -347-11324-19994-437-294974-135
PBT 266231931469119-360-569-215
Adjustment -167-472769412711206286114
Changes in Working Capital -451-295-345-439-42-568-1391256-34
Tax Paid 4-101-00000
Cash Flow From Investing Activity + -75-93-126-73-30417846-543651
Capex -76-97-128-62-3-57-44-37198
Net Investments 03-2-27-31323085-509426
Others 124161255327
Cash Flow From Financing Activity + 468364-19285198247241-322-485
Net Proceeds from Shares 803375510510872107059
Net Proceeds from Borrowing 00000000-320
Interest Paid -153-153-106-141-160-192-210-241-224
Dividend Paid 000000000
Others 54018032320250368344-810
Net Cash Flow 45158-12113-12-12-610930

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)00016.520.44.77-14.98-28.08-12.83
ROCE (%)0159.0231.6713.344.547.65-3.55-8.370.28
Asset Turnover Ratio0.280.240.240.280.280.20.150.130.36
PAT to CFO Conversion(x)-1.3-0.490.26-1.3610.44-3.67N/AN/AN/A
Working Capital Days
Receivable Days517.70648.80627.60480.30410.50518.10674.70705.50325.30
Inventory Days33.6036.7033.3028.6028.40385868.2022.90
Payable Days1,228.401,3881,249.301,5571,702.80904.601,383.401,203364.60

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

ITI Ltd FAQs

The current trading price of ITI on 19-Jun-2026 16:59 is ₹312.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-Jun-2026 the market cap of ITI stood at ₹30,051.7 Cr

The latest P/E ratio of ITI as of 18-Jun-2026 is 102.6.

The latest P/B ratio of ITI as of 18-Jun-2026 is 16.24.

The 52-week high of ITI is ₹372.9 and the 52-week low is ₹232.9.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ITI is ₹2,184 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that ITI Ltd is a below average quality company.

The key valuation ratios of ITI Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of ITI Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About ITI Ltd

ITI Limited is a public sector undertaking in the telecommunications technology segment established as a departmental factory in 1948. The company has a diverse suite of products including manufactured products like Gigabit Passive Optical Network (GPON), Managed Leased Line Network (MLLN) products, Stand Alone Signaling Transfer Point(SSTP), Wi-Fi Access Point, Radio Modem, SMPS, Set Top Box, Defence products like multi-capacity encryption units, Bulk encryption Units (BEU), Terminal End Secrecy Devices (TESD), Passive infrastructure products such as Optical Fiber Cable, HDPE duct, Antenna, diversified products such as smart energy meters, smart cards, solar panels, mini personal computers.

Besides offering the telecom turnkey solutions and customized support, ITI has a dedicated Network System Unit for executing turnkey projects for installation and commissioning of telecommunication networks. The company intends to upgrade and invest in the technology, through the acquisition of technology from strategic partners with a specific focus on high growth industry segments. The company operates a data center at Bengaluru and currently expanding the same to offer cloud based services to government institutions/departments, banks etc.

The company is manufacturing a diverse range of Information and Communication Technology (ICT) products/solutions to hone its competitive edge in the convergence market by deploying its rich telecom expertise and vast infrastructure. Company is diversifying towards IOT, Smart city, other allied telecom products and services including turnkey project execution to offer solutions in diversified fields. Encryption Products are the company's forte. Extensive in-house R&D work is devoted towards design and development of encryption solutions to Indian Defence forces.

Business area of the company

ITI is primarily engaged in the business of Manufacture, sale & servicing of Telecommunication equipments and building communication network infrastructures using Internet Protocol (IP) / Multi Protocol Label Switching (MPLS) Technology, Optical Fibre Cable (OFC), Microwave Radio and Satellite communication channels. Further, the company is engaged in turnkey contracts/solutions and provides customized support. 

Products and services offered by the company

Products

  • Digital Mobile Radio (DMR) System
  • Smart energy meters
  • Mini personal computers
  • Smaash Laptop
  • 3D Printing
  • Bank automation products
  • GPON OLT and ONT
  • PCM multiplexers
  • Ruggedized telephones for defence forces
  • Smart cards and banking cards
  • Hand held terminals for smart card authentication
  • Set top boxes
  • Wi-Fi equipment
  • Multiple types of encryption devices for defence
  • Solar power modules
  • Switched mode power supply systems
  • IoT products
  • Radio modems
  • AN rack hardware

Traded Products

  • Optical transport network products, like, DWDM
  • Managed leased line network (MLLN) products
  • Signalling Transfer Point (STP) network products
  • IP/MPLS routers and switches
  • Network management system solution
  • Microwave and satellite communication equipment
  • Next generation network equipment
  • IT products and solutions

Services

  • Data Centre hosting
  • EMI/EMC and Environmental testing of electronic products
  • 3D Printing
  • Mechanical fabrication
  • Reliability Engineering lab
  • Installation, Commissioning, Operation and Maintenance services for the supplied products
  • Electronic contract manufacturing
  • Printed Circuit Board (PCB) manufacturing
  • Component Screening for mission critical components

Awards

2017-18

  • A Certificate of Appreciation was awarded to ITI in recognition of its significant contribution as ‘best performing equipment supply partners’ to achieve BharatNet Phase I target for connecting over one lakh Gram Panchayats.
  • ITI Raebareli plant has been conferred with the National Safety Awards for the Performance Year 2015 for Outstanding Performance in Safety at industrial establishments for maintaining consistent safety standards.
  • ITI was awarded Indywood Built in India Excellence Awards 2017 in the category of Public Sector - Telecommunications at Ramoji Film City, Hyderabad on December 4, 2017. The award was presented to ITI in recognition of efforts made by the organization to boost the concept of ‘Make in India’ towards the development of telecommunication sector. Indywood Built In India Excellence Awards 2017 was organized as a part of Project Indywood, a $10 Billion Project to be initiated by a consortium of 2000 Indian Corporate and Multi-Millionaires.
  • ITI received India’s Best HR Leaders in PSUs Award from ASIA PACIFIC HRM CONGRESS, TIMES ASCENT hosted by World HRD Congress, Times ASCENT group on September 19, 2017.
  • ITI was honoured with Pride of Karnataka Awards 2017 for Corporate Excellence.
  • ITI was conferred with ‘NIPM LIFE TIME ACHIEVEMENT AWARD 2017’ for Government Administration by National Institute of Personnel Management (NIPM), Palghat Group, Kerala Chapter at the ‘NIPM AWARD NITE 2018’ held at Lead College of Management, Dhoni, Palakkad on January 20, 2018.

2018-19

  • ITI has won ‘India’s Best Company’ Award for the year 2018. ITI was presented the award based on Berkshire Media’s survey and analysis of company’s performance. The IBC Corporate Awards 2019 ceremony was held on March 8, 2019 at The Leela Hotel, Mumbai.
  • ITI received ‘CEO with HR Orientation’ and Shri Shashi Prakash Gupta, Director (HR), ITI received ‘Pride of HR Professional in PSU’ award by World HRD Congress (WHRD) at the 27th Edition of the Congress held on February 15 and 16, 2019.
  • ITI received Best PSU Award in Digital PSU Category by ‘Governance Now’ at 6th PSU Awards held on January 17, 2019 at The Imperial, New Delhi.
  • Outstanding Safety Performance ‘Suraksha Puraskar Award’ was conferred on ITI Palakkad Plant by National Safety Council, Kerala Chapter. ITI Palakkad Plant has won the award for achieving the lowest frequency rate of accidents in the category ‘large size engineering industries’ in industrial safety.
  • ITI has received Certificate of Compliance for Master Card production at Palakkad Plant from Master Card Certification Body, New York. ITI has now become the first Public Sector Unit in the country certified for RuPay and MasterCard production and is the ‘Certified Vendor’ under the Master Card Global Vendor Certification Program.
  • ITI has earned a position in the Top 50 in Fortune India’s ‘The Next 500’ ranking for the year 2019. It figures at 39th rank on the Fortune India’s list.
  • ITI has won Indywood Excellence Award 2018. Shri K Alagesan, CMD, ITI received the award from Shri Mohammed Ibrahim Al Qahtani at Indywood Film Carnival 2018 organized at Hitex, Convention Center, Hyderabad on December 4, 2018.
  • ITI Palakkad Plant received a Certificate of Merit in appreciation of efforts in pollution control and initiatives in environment protection in 2018 in the category of Engineering & Electronic Industries.
  • ITI has won Digital PSU Award for the year 2018.
  • ITI Bangalore Plant and ITI Rae Bareli Plant have won the prestigious National Safety Awards for the performance year 2016 as Winner for excellent performance in Industrial Safety based on Accident Free Year and as Runner Up for outstanding performance in Industrial Safety in achieving Lowest Average Frequency Rate and in achieving Accident Free Year respectively

2019-20

  • ITI bagged the prestigious ‘Company of the Year - PSU award at the second edition of CNBC-AWAAZ CEO AWARDS 2019. Shri R M Agarwal, Chairman & Managing Director, ITI and Shri Shashi Prakash Gupta, DirectorHuman Resource received the prestigious award from Shri Bhupesh Baghel, Chief Minister, Chhattisgarh at the grand ceremony held in Raipur on February 7, 2020.
  • Sustainable HR Leadership Award was conferred to Shri Shashi Prakash Gupta, Director (HR), ITI by World HRD Congress. The award ceremony was held on February 16, 2020 at Taj Lands End, Mumbai.
2020-21
  • ITI bags National Awards for Excellence in PSU. 
  • ITI Palakkad Plant won Suraksha Puraskar for Outstanding Safety Performance for achieving the lowest frequency rate of accidents in the category 'large size engineering industries' in industrial safety for the year 2020 during the National Safety Week Celebrations 2021 organized by National Safety Council, Cochin on March 4, 2021
2021-22
  • ITI Mankapur Plant has bagged ‘National Safety Award’ for outstanding performance in Industrial Safety as Runner-Up during the Performance Year 2018 in achieving ‘Lowest Average Frequency Rate’. 
  • 2022-23
  • ITI received ‘Official Language Performance Excellence Award’ on 25.07.2022 for the year 2021-22 by Town Official Language Implementation Committee (Undertaking), Bangalore for progressive use of Hindi language and implementation of Official Language Policy at its Corporate Office.
2024-25
  • ITI Bags Award for Pioneering Use of Technology in Mobility
  • ITI Bags Operational Excellence & Quality Award for GIOM Project
  • ITI Bags Excellent Award for Implementation of Official Language
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