ITC Limited (ITC) - Net Assets
Based on the latest financial reports, ITC Limited (ITC) has net assets worth Rs728.73 Billion INR (≈ $7.88 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs937.92 Billion ≈ $10.14 Billion USD) and total liabilities (Rs209.19 Billion ≈ $2.26 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check ITC tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs728.73 Billion |
| % of Total Assets | 77.7% |
| Annual Growth Rate | 12.34% |
| 5-Year Change | 16.0% |
| 10-Year Change | 56.02% |
| Growth Volatility | 9.19 |
ITC Limited - Net Assets Trend (2002–2026)
This chart illustrates how ITC Limited's net assets have evolved over time, based on quarterly financial data. See ITC Limited (ITC) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for ITC Limited (2002–2026)
The table below shows the annual net assets of ITC Limited from 2002 to 2026. For live valuation and market cap data, see ITC market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2026-03-31 | Rs728.73 Billion ≈ $7.88 Billion |
+3.52% |
| 2025-03-31 | Rs703.98 Billion ≈ $7.61 Billion |
-6.00% |
| 2024-03-31 | Rs748.90 Billion ≈ $8.10 Billion |
+7.70% |
| 2023-03-31 | Rs695.39 Billion ≈ $7.52 Billion |
+10.69% |
| 2022-03-31 | Rs628.22 Billion ≈ $6.79 Billion |
+3.51% |
| 2021-03-31 | Rs606.94 Billion ≈ $6.56 Billion |
-7.55% |
| 2020-03-31 | Rs656.51 Billion ≈ $7.10 Billion |
+10.37% |
| 2019-03-31 | Rs594.84 Billion ≈ $6.43 Billion |
+12.56% |
| 2018-03-31 | Rs528.45 Billion ≈ $5.71 Billion |
+13.14% |
| 2017-03-31 | Rs467.08 Billion ≈ $5.05 Billion |
+36.47% |
| 2016-03-31 | Rs342.27 Billion ≈ $3.70 Billion |
+7.09% |
| 2015-03-31 | Rs319.61 Billion ≈ $3.46 Billion |
+16.47% |
| 2014-03-31 | Rs274.40 Billion ≈ $2.97 Billion |
+17.58% |
| 2013-03-31 | Rs233.38 Billion ≈ $2.52 Billion |
+18.98% |
| 2012-03-31 | Rs196.16 Billion ≈ $2.12 Billion |
+18.15% |
| 2011-03-31 | Rs166.03 Billion ≈ $1.80 Billion |
+13.84% |
| 2010-03-31 | Rs145.85 Billion ≈ $1.58 Billion |
+3.01% |
| 2009-03-31 | Rs141.58 Billion ≈ $1.53 Billion |
+14.17% |
| 2008-03-31 | Rs124.01 Billion ≈ $1.34 Billion |
+15.31% |
| 2007-03-31 | Rs107.54 Billion ≈ $1.16 Billion |
+15.60% |
| 2006-03-31 | Rs93.03 Billion ≈ $1.01 Billion |
+16.25% |
| 2005-03-31 | Rs80.03 Billion ≈ $865.45 Million |
+21.85% |
| 2004-03-31 | Rs65.67 Billion ≈ $710.24 Million |
+19.69% |
| 2003-03-31 | Rs54.87 Billion ≈ $593.40 Million |
+22.86% |
| 2002-03-31 | Rs44.66 Billion ≈ $482.99 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to ITC Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2026)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Rs12.53 Billion | 1.73% |
| Other Components | Rs712.54 Billion | 98.27% |
| Total Equity | Rs725.07 Billion | 100.00% |
ITC Limited Competitors by Market Cap
The table below lists competitors of ITC Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Banco Bradesco DRC
BA:BBD
|
$39.53 Billion |
|
WUS Printed Circuit Kunshan Co Ltd
SHE:002463
|
$39.60 Billion |
|
China CSSC Holdings Ltd
SHG:600150
|
$39.63 Billion |
|
Deutsche Börse AG
XETRA:DB1
|
$39.66 Billion |
|
Woodside Energy Group Ltd
NYSE:WDS
|
$39.50 Billion |
|
CTBC Financial Holding Co Ltd Pref
TW:2891B
|
$39.50 Billion |
|
Take-Two Interactive Software Inc
NASDAQ:TTWO
|
$39.46 Billion |
|
CITIC LTD. ADR/5 HD-40
F:CPF0
|
$39.45 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in ITC Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 700,300,500,000 to 725,073,000,000, a change of 24,772,500,000 (3.5%).
- Net income of 206,894,700,000 contributed positively to equity growth.
- Dividend payments of 182,714,400,000 reduced retained earnings.
- New share issuances of 4,048,500,000 increased equity.
- Other comprehensive income decreased equity by 35,109,000,000.
- Other factors increased equity by 31,652,700,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs206.89 Billion | +28.53% |
| Dividends Paid | Rs182.71 Billion | -25.2% |
| Share Issuances | Rs4.05 Billion | +0.56% |
| Other Comprehensive Income | Rs-35.11 Billion | -4.84% |
| Other Changes | Rs31.65 Billion | +4.37% |
| Total Change | Rs- | 3.54% |
Book Value vs Market Value Analysis
This analysis compares ITC Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.04x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 50.45x to 5.04x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-03-31 | Rs5.78 | Rs291.65 | x |
| 2005-03-31 | Rs7.07 | Rs291.65 | x |
| 2006-03-31 | Rs8.15 | Rs291.65 | x |
| 2007-03-31 | Rs9.42 | Rs291.65 | x |
| 2008-03-31 | Rs10.83 | Rs291.65 | x |
| 2009-03-31 | Rs12.39 | Rs291.65 | x |
| 2010-03-31 | Rs12.53 | Rs291.65 | x |
| 2011-03-31 | Rs14.10 | Rs291.65 | x |
| 2012-03-31 | Rs16.50 | Rs291.65 | x |
| 2013-03-31 | Rs19.41 | Rs291.65 | x |
| 2014-03-31 | Rs22.65 | Rs291.65 | x |
| 2015-03-31 | Rs26.28 | Rs291.65 | x |
| 2016-03-31 | Rs28.02 | Rs291.65 | x |
| 2017-03-31 | Rs38.11 | Rs291.65 | x |
| 2018-03-31 | Rs42.88 | Rs291.65 | x |
| 2019-03-31 | Rs48.08 | Rs291.65 | x |
| 2020-03-31 | Rs53.10 | Rs291.65 | x |
| 2021-03-31 | Rs49.05 | Rs291.65 | x |
| 2022-03-31 | Rs50.69 | Rs291.65 | x |
| 2023-03-31 | Rs55.71 | Rs291.65 | x |
| 2024-03-31 | Rs59.66 | Rs291.65 | x |
| 2025-03-31 | Rs55.93 | Rs291.65 | x |
| 2026-03-31 | Rs57.86 | Rs291.65 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently ITC Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 28.53%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 26.45%
- • Asset Turnover: 0.83x
- • Equity Multiplier: 1.29x
- Recent ROE (28.53%) is above the historical average (27.80%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 25.49% | 11.99% | 1.34x | 1.58x | Rs8.34 Billion |
| 2004 | 25.32% | 23.72% | 0.66x | 1.62x | Rs9.89 Billion |
| 2005 | 28.48% | 28.06% | 0.69x | 1.48x | Rs14.67 Billion |
| 2006 | 25.09% | 22.43% | 0.77x | 1.46x | Rs13.92 Billion |
| 2007 | 26.12% | 21.60% | 0.85x | 1.42x | Rs17.16 Billion |
| 2008 | 25.93% | 21.73% | 0.81x | 1.47x | Rs19.57 Billion |
| 2009 | 23.99% | 20.61% | 0.80x | 1.46x | Rs19.63 Billion |
| 2010 | 29.12% | 22.00% | 0.80x | 1.65x | Rs27.65 Billion |
| 2011 | 30.79% | 22.76% | 0.85x | 1.60x | Rs34.23 Billion |
| 2012 | 32.55% | 24.19% | 0.87x | 1.55x | Rs43.88 Billion |
| 2013 | 32.85% | 24.06% | 0.89x | 1.53x | Rs52.92 Billion |
| 2014 | 35.48% | 24.88% | 0.95x | 1.50x | Rs69.39 Billion |
| 2015 | 30.45% | 24.88% | 0.84x | 1.45x | Rs64.90 Billion |
| 2016 | 27.51% | 23.84% | 0.76x | 1.51x | Rs59.48 Billion |
| 2017 | 22.17% | 24.05% | 0.76x | 1.21x | Rs56.48 Billion |
| 2018 | 21.46% | 25.94% | 0.68x | 1.22x | Rs60.20 Billion |
| 2019 | 21.29% | 26.04% | 0.67x | 1.21x | Rs66.78 Billion |
| 2020 | 23.45% | 30.98% | 0.64x | 1.19x | Rs87.79 Billion |
| 2021 | 21.81% | 26.71% | 0.67x | 1.22x | Rs71.26 Billion |
| 2022 | 24.41% | 25.12% | 0.79x | 1.24x | Rs89.97 Billion |
| 2023 | 27.75% | 27.05% | 0.83x | 1.24x | Rs122.76 Billion |
| 2024 | 27.46% | 30.12% | 0.74x | 1.23x | Rs130.08 Billion |
| 2025 | 49.62% | 46.13% | 0.86x | 1.26x | Rs277.44 Billion |
| 2026 | 28.53% | 26.45% | 0.83x | 1.29x | Rs134.39 Billion |
Industry Comparison
This section compares ITC Limited's net assets metrics with peer companies in the Tobacco industry.
Industry Context
- Industry: Tobacco
- Average net assets among peers: $2,019,458,380
- Average return on equity (ROE) among peers: 36.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ITC Limited (ITC) | Rs728.73 Billion | 25.49% | 0.29x | $39.52 Billion |
| Golden Tobacco Limited (GOLDENTOBC) | $1.39 Billion | 37.09% | 1.31x | $4.78 Million |
| VST Industries Limited (VSTIND) | $2.64 Billion | 35.93% | 1.41x | $474.80 Million |
About ITC Limited
ITC Limited engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally. The company offers cigarettes and cigars; foods, including staples, spices, biscuits, confectionery and gums, snacks, noodles and pasta, beverages, dairy products, ready-to-eat meals, chocolates, coffee, and frozen foods; personal care products; education and … Read more