ITC Future Growth

Future criteria checks 2/6

ITC is forecast to grow earnings and revenue by 8.5% and 7.7% per annum respectively. EPS is expected to grow by 8.4% per annum. Return on equity is forecast to be 33.9% in 3 years.

Key information

8.5%

Earnings growth rate

8.4%

EPS growth rate

Tobacco earnings growth	7.1%
Revenue growth rate	7.7%
Future return on equity	33.9%
Analyst coverage	Good
Last updated	10 Apr 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

NSEI:ITC - Analysts future estimates and past financials data (INR Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
3/31/2027	900,179	267,471	242,395	N/A	2
3/31/2026	823,144	246,368	217,686	N/A	14
3/31/2025	744,274	221,254	197,759	N/A	16
3/31/2024	680,872	202,646	187,598	N/A	16
12/31/2023	705,932	205,137	N/A	N/A	N/A
9/30/2023	702,783	201,851	156,527	181,814	N/A
6/30/2023	696,119	199,068	N/A	N/A	N/A
3/31/2023	709,369	191,917	161,346	188,776	N/A
12/31/2022	698,575	182,119	N/A	N/A	N/A
9/30/2022	692,611	172,620	143,396	174,054	N/A
6/30/2022	659,103	163,559	N/A	N/A	N/A
3/31/2022	606,681	152,427	136,339	157,755	N/A
12/31/2021	584,548	148,024	N/A	N/A	N/A
9/30/2021	544,264	142,723	120,205	139,404	N/A
6/30/2021	527,460	139,267	N/A	N/A	N/A
3/31/2021	492,728	131,612	106,903	125,270	N/A
12/31/2020	467,127	132,622	N/A	N/A	N/A
9/30/2020	465,355	137,112	112,643	133,411	N/A
6/30/2020	468,988	144,622	N/A	N/A	N/A
3/31/2020	494,041	153,062	122,485	146,897	N/A
12/31/2019	505,356	149,848	N/A	N/A	N/A
9/30/2019	498,118	140,880	91,732	120,064	N/A
6/30/2019	491,287	129,728	N/A	N/A	N/A
3/31/2019	483,527	125,923	94,143	125,834	N/A
3/31/2018	434,489	112,712	102,912	131,694	N/A
3/31/2017	427,766	102,894	N/A	106,273	N/A
3/31/2016	391,921	93,445	N/A	97,990	N/A
3/31/2015	388,348	96,632	N/A	98,432	N/A
3/31/2014	353,171	88,914	N/A	73,436	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ITC's forecast earnings growth (8.5% per year) is above the savings rate (6.7%).

Earnings vs Market: ITC's earnings (8.5% per year) are forecast to grow slower than the Indian market (18% per year).

High Growth Earnings: ITC's earnings are forecast to grow, but not significantly.

Revenue vs Market: ITC's revenue (7.7% per year) is forecast to grow slower than the Indian market (10.3% per year).

High Growth Revenue: ITC's revenue (7.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ITC's Return on Equity is forecast to be high in 3 years time (33.9%)

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ITC Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Price target increased to ₹385

Price target increased to ₹381

Recent updates

There's No Escaping ITC Limited's (NSE:ITC) Muted Earnings

Here's Why We Think ITC (NSE:ITC) Is Well Worth Watching

ITC Limited Announces Executive Changes, Effective April 2, 2024

BAT Reportedly to Launch ITC Selldown as Soon as This Week

Is ITC (NSE:ITC) A Risky Investment?

British American Tobacco Reportedly Looks to Raise $2.5 Billion by Trimming Stake in ITC

Dividend of ₹6.25 announced

Third quarter 2024 earnings released: EPS: ₹4.28 (vs ₹4.04 in 3Q 2023)

ITC Limited Declares Interim Dividend for the Financial Year Ending 31 March, 2024, Payable Between 26 February, 2024 and 28 February, 2024

ITC Limited to Report Q3, 2024 Results on Jan 29, 2024

ITC Limited Announces Appointment of Rahul Jain as Non-Executive Director, Effective January 1, 2024

ITC Limited (NSE:ITC) Investors Are Less Pessimistic Than Expected

Why The 34% Return On Capital At ITC (NSE:ITC) Should Have Your Attention

Is Now The Time To Put ITC (NSE:ITC) On Your Watchlist?

Second quarter 2024 earnings released: EPS: ₹3.93 (vs ₹3.73 in 2Q 2023)

ITC Limited (NSEI:ITC) entered into definitive agreements to acquire additional 5.9% stake in in Delectable Technologies Private Limited for INR 35 million.

ITC Limited to Report Q2, 2024 Results on Oct 19, 2023

These 4 Measures Indicate That ITC (NSE:ITC) Is Using Debt Safely

ITC Limited Announces Stepping Down of Peter Rajatilakan Chittaranjan from the Board of Directors

Investors Shouldn't Overlook The Favourable Returns On Capital At ITC (NSE:ITC)

First quarter 2024 earnings released: EPS: ₹4.11 (vs ₹3.56 in 1Q 2023)

ITC Limited Approves Special Dividend for the Financial Year Ended March 31, 2023

ITC Limited to Report Q1, 2024 Results on Aug 14, 2023

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Here's Why ITC (NSE:ITC) Has Caught The Eye Of Investors

ITC Limited, Annual General Meeting, Aug 11, 2023

ITC (NSE:ITC) Has A Rock Solid Balance Sheet

ITC Appoints Aishwarya Pratap Singh as Chief Business Officer At Yoga Bar

Upcoming dividend of ₹9.50 per share at 3.0% yield

A Look Into ITC's (NSE:ITC) Impressive Returns On Capital

ITC's (NSE:ITC) Dividend Will Be Increased To ₹9.50

ITC Limited Announces Appointment of Directors

Full year 2023 earnings: EPS and revenues exceed analyst expectations

ITC Limited to Report Q4, 2023 Results on May 18, 2023

Here's Why We Think ITC (NSE:ITC) Might Deserve Your Attention Today

We Think ITC (NSE:ITC) Can Manage Its Debt With Ease

Upcoming dividend of ₹6.00 per share at 3.1% yield

ITC's (NSE:ITC) Dividend Will Be Increased To ₹6.00

Third quarter 2023 earnings released: EPS: ₹4.04 (vs ₹3.29 in 3Q 2022)

ITC Limited Appoints Peter Rajatilakan Chittaranjan as an Additional Non-Executive Director

ITC Limited to Report Q3, 2023 Results on Feb 03, 2023

ITC Limited (NSEI:ITC) agreed to acquire SproutLife Foods Private Ltd.

ITC Limited (NSEI:ITC) agreed to acquire SproutLife Foods Private Ltd.

A Look Into ITC's (NSE:ITC) Impressive Returns On Capital

If EPS Growth Is Important To You, ITC (NSE:ITC) Presents An Opportunity

Price target increased to ₹385

ITC Limited (NSEI:ITC) acquired additional 13.3% stake in Mother Sparsh Baby Care Private Limited.

Price target increased to ₹381

Second quarter 2023 earnings released: EPS: ₹3.73 (vs ₹3.02 in 2Q 2022)

ITC Limited to Report Q2, 2023 Results on Oct 20, 2022

ITC Reportedly Puts Its Hat in the Ring for Yoga Bar Stake

Does ITC (NSE:ITC) Have A Healthy Balance Sheet?

Here's Why We Think ITC (NSE:ITC) Might Deserve Your Attention Today

An unknown buyer acquired Lifestyle Retailing Business of ITC Limited.

First quarter 2023 earnings released: EPS: ₹3.56 (vs ₹2.66 in 1Q 2022)

Many Would Be Envious Of ITC's (NSE:ITC) Excellent Returns On Capital

ITC Limited to Report Q1, 2023 Results on Aug 01, 2022

ITC Limited Announces Interim and Final Dividend for the Financial Year Ended 31 March, 2022

ITC Limited (NSE:ITC) Shares Could Be 20% Above Their Intrinsic Value Estimate

ITC Ltd Plans to Exit its Joint Venture with Logix Estates

Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat

ITC Appoints Rajiv Singh as Head of Growth At ITC Cloud Kitchen

ITC Limited (NSEI:ITC) completed the acquisition of 10.07% stake in Blupin Technologies Private Limited for approximately INR 390 million.

ITC Limited, Annual General Meeting, Jul 20, 2022

Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat

ITC Limited Announces Executive Changes

Here's Why I Think ITC (NSE:ITC) Might Deserve Your Attention Today

ITC Limited to Report Q4, 2022 Results on May 18, 2022

Many Would Be Envious Of ITC's (NSE:ITC) Excellent Returns On Capital

ITC Limited (NSEI:ITC) agreed to acquire a 10.07% stake in Blupin Technologies Private Limited for approximately INR 390 million.

Is ITC Limited (NSE:ITC) Expensive For A Reason? A Look At Its Intrinsic Value

Is ITC (NSE:ITC) A Risky Investment?

Upcoming dividend of ₹5.25 per share