ITC Limited (NSE: ITC) is one of India’s most trusted and diversified conglomerates, with a strong presence across cigarettes, FMCG, hotels, paperboards, and agri-business. As of October 2025, ITC’s share price trades between ₹420 and ₹480, supported by strong institutional buying and renewed investor confidence following the successful hotel business demerger.
Analysts believe ITC could see a fresh re-rating as its non-cigarette FMCG segment continues to expand in scale and profitability — expected to contribute over 40% of total revenue by 2030. With a growing focus on premium food products, personal care, and digital transformation, ITC is well-positioned to maintain a healthy 15–18% CAGR growth through the next decade.
In this article, we’ll dive into ITC’s fundamentals, recent performance, and detailed year-wise share price targets from 2025 to 2050, along with the key factors that could drive its long-term growth and valuation.
About the Company
Founded in 1910 and headquartered in Kolkata, ITC Limited operates across five core segments:
- Cigarettes and Tobacco Products
- FMCG – Foods, Personal Care, and Stationery
- Hotels and Hospitality
- Agri-Business and Exports
- Paperboards, Packaging & Specialty Papers
With over 200 manufacturing units and a distribution reach of 6+ million retail outlets, ITC is a household name in India. The company’s ongoing diversification strategy aims to reduce dependency on tobacco while expanding into high-margin consumer goods and digital-first businesses.
Fundamental Analysis
Revenue & Profit Trends
- FY25 Revenue: ₹22,897 Cr in Q2 FY25 (+10.2% YoY)
- PAT: ₹5,078 Cr (+3% YoY)
- EBITDA Margin: 32.8% (down 470 bps YoY due to inflationary pressure)
- Full-Year Revenue Growth (FY24–FY25): +9% YoY
ITC’s consistent growth in FMCG and hotels offsets short-term volatility in the agri and paper segments.
Valuation Metrics
| Metric | Value (FY25) | Insight |
|---|---|---|
| P/E Ratio | ~25x | Below 5-year average of 28x, attractive valuation |
| ROE | 29.9% | Strong capital efficiency |
| EPS | ₹4.02 (Q2 FY25) | Consistent growth with stable dividends |
Balance Sheet Strength
- Virtually debt-free (D/E ratio: 0.00)
- Cash Reserves: ₹29,655 Cr
- Free Cash Flow: ₹17,200 Cr
- ROCE: 35% (industry-leading)
Shareholding Pattern (Sep 2025)
| Category | Shareholding (%) |
|---|---|
| Promoters | 0.00 (Institution-owned) |
| FIIs | 41.2 |
| DIIs | 43.5 |
| Public | 15.3 |
FIIs have recently increased holdings due to re-rating expectations post-hotel demerger.
Past Stock Performance
ITC has delivered compound returns of ~13% CAGR over the past decade, outperforming the FMCG index in the last 5 years.
- 5-Year Return: +85%
- 10-Year Return: +200%
- 52-Week Range: ₹400 – ₹495
The stock has become a defensive and dividend favorite due to its consistent payouts (~3.5% yield) and strong fundamentals.
ITC Limited Share Price Target 2025–2050
| Year | Minimum (₹) | Average (₹) | Maximum (₹) |
|---|---|---|---|
| 2025 | 430 | 510 | 575 |
| 2026 | 520 | 600 | 680 |
| 2027 | 600 | 690 | 770 |
| 2028 | 690 | 780 | 880 |
| 2029 | 770 | 870 | 960 |
| 2030 | 850 | 950 | 1,050 |
| 2035 | 1,100 | 1,300 | 1,500 |
| 2040 | 1,400 | 1,600 | 1,950 |
| 2045 | 2,000 | 2,400 | 2,750 |
| 2050 | 2,800 | 3,000 | 3,900 |
ITC Share Price Target & Prediction 2025, 2026, 2027, 2028, 2029, 2030, 2035, 2040, 2045, and 2050
ITC Share Price Target 2025
ITC is expected to trade between ₹430–₹575, supported by strong Q3/Q4 results and stable cigarette taxes. The hotel demerger is a major sentiment booster, unlocking hidden value and improving earnings visibility.
ITC Share Price Target 2026
Targets of ₹520–₹680 assume 10–12% EPS growth and improving FMCG margins. FMCG premium brands like Aashirvaad Atta, Sunfeast, and Fiama will drive double-digit growth.
ITC Share Price Target 2027
Projected range ₹600–₹770. The FMCG segment could cross ₹30,000 Cr revenue, making ITC one of India’s top 3 consumer companies by profit. Dividend yield expected to remain ~3.2%.
ITC Share Price Target 2028
₹690–₹880 range likely as ITC continues to grow its digital-first FMCG brands and expand its hotel portfolio internationally through the new entity.
ITC Share Price Target 2029
₹770–₹960 expected as paperboard margins recover and agri-business benefits from export incentives. Analysts expect EPS CAGR of 14–15%.
ITC Share Price Target 2030
₹850–₹1,050 range projected. FMCG share in profits expected to exceed 40%, with P/E re-rating toward 30x due to brand premiumization and sustained cash flows.
ITC Share Price Target 2035
₹1,100–₹1,500 range likely under 13–14% CAGR. By now, ITC will have a global footprint in foods and personal care, with sustainability-driven products contributing significantly.
ITC Share Price Target 2040
₹1,400–₹1,950 range as ITC becomes a fully diversified FMCG and hospitality leader. Carbon-neutral operations and innovation hubs improve global investor appeal.
ITC Share Price Target 2045
₹2,000–₹2,750 possible, assuming 15%+ long-term compounding and steady 25–30% ROE. ITC could be valued on par with global FMCG majors like Nestlé or Unilever.
ITC Share Price Target 2050
₹2,800–₹3,900 projected — driven by intergenerational compounding, brand equity, and sustainable business practices. At this stage, ITC could be among India’s top 3 market-cap companies.
Key Growth Drivers
- Hotel Demerger Unlocks Value (₹20,000+ Cr potential)
- Non-Cigarette FMCG Growth (Premium foods, personal care, packaged snacks)
- Strong Free Cash Flows and debt-free structure
- Digitalization & Supply Chain AI Integration
- Global Sustainability Focus (Carbon neutrality, recyclable packaging)
- Expanding Rural & Urban Market Penetration
Expert Views
- Motilal Oswal: Target ₹575 (Buy); expects 15% upside post-demerger.
- Emkay Global: Overweight with target ₹475; sees FMCG re-rating as key driver.
- Jefferies: Predicts ₹600+ by FY26 with steady 10–12% PAT growth.
- WalletInvestor (AI Model): Projects ₹1,728 by 2030 under aggressive growth.
Risks & Challenges
- Tobacco Taxation & Regulation: Any sharp excise increase can dent volumes.
- Input Cost Inflation: Impacts FMCG margin expansion.
- Rural Demand Slowdown: Could affect mass-market product volumes.
- FII Outflows: May limit near-term price momentum.
- Valuation Risk: P/E expansion may cap upside in overbought zones.
Investment Suitability
ITC suits:
- Long-term investors seeking stable compounding (12–15% CAGR).
- Dividend seekers, as yields remain among India’s best (~3.5%).
- Defensive portfolio holders, as ITC performs well even during market corrections.
Short-term traders can accumulate on dips below ₹450 for a 2025 target of ₹575.
FAQs
1. What will be ITC’s share price in 2030?
ITC’s share price is expected to be between ₹850 and ₹1,050 by 2030, driven by FMCG expansion and steady profit growth.
2. Can ITC reach ₹1,000 by 2028?
Under aggressive growth assumptions, yes — ITC could touch ₹900–₹1,000 by 2028 if margins improve and FMCG contributes 35%+ profits.
3. Is ITC good for long-term investment?
Yes, ITC is a strong long-term compounder with stable cash flows, high dividends, and leadership in multiple consumer categories.
4. What is the expected ITC share price by 2050?
By 2050, ITC could trade between ₹2,800 and ₹3,900, assuming sustained 15–18% CAGR and continued business diversification.
Conclusion
ITC Limited remains a defensive yet growth-oriented stock, balancing stability with diversification. The next decade could redefine ITC from a tobacco-led company to a consumer, hotel, and digital FMCG powerhouse.
Investors with a long-term horizon (5–20 years) can expect consistent compounding, steady dividends, and strong brand-backed growth. Accumulating on dips could yield attractive returns as ITC’s transformation continues.
Sources
- NSE/BSE Filings
- ITC Annual Reports FY24–FY25
