ITC Limited (ITC) - Net Assets
Based on the latest financial reports, ITC Limited (ITC) has net assets worth Rs715.95 Billion INR (≈ $7.74 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs908.03 Billion ≈ $9.82 Billion USD) and total liabilities (Rs192.08 Billion ≈ $2.08 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 Limited liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs715.95 Billion |
| % of Total Assets | 78.85% |
| Annual Growth Rate | 12.74% |
| 5-Year Change | 15.99% |
| 10-Year Change | 105.68% |
| Growth Volatility | 9.18 |
ITC Limited - Net Assets Trend (2002–2025)
This chart illustrates how ITC Limited's net assets have evolved over time, based on quarterly financial data. Also explore ITC total asset value for the complete picture of this company's asset base.
Annual Net Assets for ITC Limited (2002–2025)
The table below shows the annual net assets of ITC Limited from 2002 to 2025. For live valuation and market cap data, see ITC market cap.
| Year | Net Assets | Change |
|---|---|---|
| 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 |
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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 grown by 27626.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs490.10 Billion | 69.98% |
| Common Stock | Rs12.51 Billion | 1.79% |
| Other Comprehensive Income | Rs35.11 Billion | 5.01% |
| Other Components | Rs162.58 Billion | 23.22% |
| Total Equity | Rs700.30 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 |
|---|---|
|
HEINEKEN SP. ADR 1/2
F:HNK2
|
$42.73 Billion |
|
Telstra Group Ltd
AU:TLS
|
$42.76 Billion |
|
CSL Ltd
AU:CSL
|
$42.85 Billion |
|
Heineken
AS:HEIA
|
$42.88 Billion |
|
Coinbase Global Inc
NASDAQ:COIN
|
$42.66 Billion |
|
Danone SA
F:BSND
|
$42.57 Billion |
|
Microchip Technology Inc
NASDAQ:MCHP
|
$42.51 Billion |
|
Becton Dickinson and Company
NYSE:BDX
|
$42.47 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 2024 to 2025, total equity changed from 745,070,000,000 to 700,300,500,000, a change of -44,769,500,000 (-6.0%).
- Net income of 347,466,300,000 contributed positively to equity growth.
- Dividend payments of 177,822,200,000 reduced retained earnings.
- Share repurchases of 7,973,300,000 reduced equity.
- New share issuances of 7,973,300,000 increased equity.
- Other comprehensive income decreased equity by 182,533,700,000.
- Other factors decreased equity by 31,879,900,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs347.47 Billion | +49.62% |
| Dividends Paid | Rs177.82 Billion | -25.39% |
| Share Repurchases | Rs7.97 Billion | -1.14% |
| Share Issuances | Rs7.97 Billion | +1.14% |
| Other Comprehensive Income | Rs-182.53 Billion | -26.07% |
| Other Changes | Rs-31.88 Billion | -4.55% |
| Total Change | Rs- | -6.01% |
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: 5.63x
- 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 54.47x to 5.63x 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 | Rs314.90 | x |
| 2005-03-31 | Rs7.07 | Rs314.90 | x |
| 2006-03-31 | Rs8.15 | Rs314.90 | x |
| 2007-03-31 | Rs9.42 | Rs314.90 | x |
| 2008-03-31 | Rs10.83 | Rs314.90 | x |
| 2009-03-31 | Rs12.39 | Rs314.90 | x |
| 2010-03-31 | Rs12.53 | Rs314.90 | x |
| 2011-03-31 | Rs14.10 | Rs314.90 | x |
| 2012-03-31 | Rs16.50 | Rs314.90 | x |
| 2013-03-31 | Rs19.41 | Rs314.90 | x |
| 2014-03-31 | Rs22.65 | Rs314.90 | x |
| 2015-03-31 | Rs26.28 | Rs314.90 | x |
| 2016-03-31 | Rs28.02 | Rs314.90 | x |
| 2017-03-31 | Rs38.11 | Rs314.90 | x |
| 2018-03-31 | Rs42.88 | Rs314.90 | x |
| 2019-03-31 | Rs48.08 | Rs314.90 | x |
| 2020-03-31 | Rs53.10 | Rs314.90 | x |
| 2021-03-31 | Rs49.05 | Rs314.90 | x |
| 2022-03-31 | Rs50.69 | Rs314.90 | x |
| 2023-03-31 | Rs55.71 | Rs314.90 | x |
| 2024-03-31 | Rs59.66 | Rs314.90 | x |
| 2025-03-31 | Rs55.93 | Rs314.90 | 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): 49.62%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 46.13%
- • Asset Turnover: 0.86x
- • Equity Multiplier: 1.26x
- Recent ROE (49.62%) is above the historical average (27.77%), 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 |
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: $1,556,322,880
- Average return on equity (ROE) among peers: 34.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ITC Limited (ITC) | Rs715.95 Billion | 25.49% | 0.27x | $42.67 Billion |
| Golden Tobacco Limited (GOLDENTOBC) | $1.39 Billion | 37.09% | 1.31x | $5.18 Million |
| VST Industries Limited (VSTIND) | $1.72 Billion | 31.86% | 0.84x | $473.73 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