ITC Limited, one of India’s leading firms, has demonstrated steady growth in recent years. In this article, we will analyze its financial data and provide ITC share price target for 2023 to 2030. We can gain insights into the company’s performance and potential future trajectory by examining key indicators such as net sales, profitability, and cash flows. Shares of this company have risen by more than 122% in the last year. In an earlier post, we discussed the reason behind this rise in ITC in detail.
Table of Contents
What does ITC do?
ITC is a well-known Indian company that does a lot of different things. It was started back in 1910 and has grown into a big and respected corporation. They have offices in Kolkata, India, and they do all kinds of businesses both in India and in other countries.
They have different products that they make and sell to people like us. You might have heard of some of their brands like Aashirvaad, Sunfeast, Bingo!, Yippee, and Classmate. They make all kinds of things we use every day, like food, soap, and even stationery.
Another thing ITC does is make paper and packaging materials. They have big factories where they make paper and things to put our stuff in, like boxes and packages. They are really good at it and are a leader in this industry.
What is current share price of ITC?
The share price of ITC as of 1 July is Rs 451.60. The stock is 68% up from its 52Week Low price is Rs 271.20. ITC is trading near 52 Week high of 455.90 and most likely to break it in coming days.
How did ITC perform in 2022?
In the year 2022, ITC had a really good year! They achieved strong growth and positive results. Let’s dive into the numbers to see how they did.
ITC’s total revenue, also known as net sales, grew a lot in 2022. They made a whopping INR 56,341.27 crores in sales. This means that more and more people were buying their products and services, which is great news for the company.
When it comes to making money, ITC did really well. They had an operating profit of INR 18,893.47 crores in 2022. This is the money they earned from their main operations, like selling products and providing services. It shows that ITC is really good at what they do and knows how to make a profit.
Overall, 2022 was a fantastic year for ITC. They saw a big increase in sales and made a healthy profit from their operations. Their share price went from Rs 203 to 356 in just one year. It’s clear that they are doing a great job in the market and attracting more customers.
Expected share price of ITC in 2023
Looking ahead to 2023, many investors are curious about what the future holds for ITC’s share price. While we can’t predict with absolute certainty, experts have provided some insights into potential targets based on market trends and company performance.
There is optimism surrounding ITC’s growth prospects in the coming years. Some experts believe that by end of 2023, ITC shares could reach a target price of 501 rupees per share.
What contributes to this positive outlook? Well, ITC has a diverse business portfolio that includes FMCG, hotels, paperboards & packaging, and agri-business. This diversity helps balance risks and provides stability to the company’s overall performance. ITC has also been proactive in embracing innovation and sustainability in its products. They are focusing on offering healthier options and eco-friendly solutions, which align with changing consumer preferences.
In 2023 share price target of ITC Ltd is expected to be in between Rs 463 and Rs 501.
ITC Ltd Short term targets and levels for 2023
| Level | Support | Resistance |
|---|---|---|
| Level 1 | 446.26 | 462.25 |
| Level 2 | 441.00 | 467.64 |
| Level 3 | 435.76 | 473.06 |
| Level 4 | 430.56 | 478.51 |
| Level 5 | 425.39 | 484.00 |
The minimum expected target forITC Ltd for the short term in 2023 is Rs 446.26, and the maximum target is Rs 462.25, which is expected to reach by Dec 2023.
Should you buy ITC shares for long term in 2023?
As you might know, government policies are very supportive for agri business. These supports agricultural development are an additional advantage for ITC’s agri-business division. This segment has already shown promising growth and is expected to continue thriving in the future.
While these factors contribute to the positive sentiment, it’s important to remember that the stock market can be unpredictable. It’s always wise to do thorough research and consult with financial advisors before making investment decisions.
Overall, ITC’s commitment to diverse businesses, innovation, and sustainability positions them well for potential growth in the coming years which makes it a good buy for long term even in 2023.
ITC share price target 2024
The minimum share price target that ITC can reach in 2024 is Rs 513 and the maximum price is Rs 579.
When we look at ITC’s financial performance in 2022, we see that the company has been doing well. They have consistently grown their revenue over the past few years, and in the latest quarter, they reached INR 17,506.08 crores.
This shows that ITC has been successful in expanding its market presence and providing value to its customers. Because of these reasons, we can expect good targets even in 2024.
In terms of profitability, ITC has also shown positive results. Their operating profit, which is the profit they make from their core business operations, has been increasing.
In March 2022, their operating profit was INR 18,893.47 crores, and by March 2023, it had grown to INR 6,209.40 crores. This indicates that ITC has been efficient in managing its operations and making higher profits.
ITC share price target 2025
Investing cash flow shows the money ITC puts into expanding its operations and making investments. Sometimes, the cash flow can be negative, which means they are spending more than they are receiving. But this is actually a good thing because it shows they are investing in their future growth and diversifying their business.
On the other hand, financing cash flow reveals how ITC manages its financial activities like borrowing money, paying off debts, and distributing dividends to its shareholders. In the case of ITC, the cash flow in this category has been negative, mainly because they are paying dividends to their shareholders and repaying debts. This shows that ITC values its shareholders and wants to maintain a strong financial position.
Overall, these cash flow numbers indicate that ITC is making strategic investments and managing its finances responsibly to ensure long-term success and create value for its stakeholders.
In 2nd quarter of 2025 we can expect ITC share price target to reach Rs 652 which is our minimum target. The maximum target for the year 2025 is Rs 730 which the share is expected to reach by Nov 2025.
ITC share price target upto 2030
| Year | 1st target (Rs) | 2nd target (Rs) |
|---|---|---|
| 2023 | 462 | 484 |
| 2024 | 513 | 579 |
| 2025 | 652 | 730 |
| 2026 | 769 | 821 |
| 2027 | 884 | 934 |
| 2028 | 1018 | 1049 |
| 2029 | 1112 | 1148 |
| 2030 | 1200 | 1220 |
Looking at ITC’s financial performance and market trends, we can estimate the company’s share price target for the years 2023 to 2030. While it’s important to remember that these projections may be influenced by factors beyond our control, they give us a general idea of the potential growth of ITC’s share price.
Considering the company’s consistent growth in revenue and improving profitability, along with positive market sentiment, we expect the share price to increase over the next few years.
ITC Financial statements
| PARTICULARS | MAR 2018 | MAR 2019 | MAR 2020 | MAR 2021 | MAR 2022 |
|---|---|---|---|---|---|
| Share Capital | 1,220.43 | 1,225.86 | 1,229.22 | 1,230.88 | 1,232.33 |
| Total Reserves | 50,179.64 | 56,723.93 | 62,799.94 | 57,773.74 | 60,167.24 |
| Borrowings | 11.13 | 7.89 | 5.63 | 5.28 | 4.54 |
| Other N/C liabilities | 2,113.51 | 2,218.68 | 2,111.16 | 2,396.51 | 2,210.30 |
| Current liabilities | 8,856.60 | 9,621.56 | 9,089.41 | 10,173.95 | 11,478.09 |
| Total Liabilities | 62,381.31 | 69,797.92 | 75,235.36 | 71,580.36 | 75,092.50 |
| Net Block | 15,565.99 | 18,486.40 | 20,132.19 | 21,811.23 | 22,856.41 |
| Capital WIP | 5,016.85 | 3,391.47 | 2,776.31 | 3,329.97 | 2,442.34 |
| Intangible WIP | 8.73 | 9.89 | 3.89 | 3.50 | 23.84 |
| Investments | 13,493.77 | 14,071.45 | 13,455.59 | 12,937.42 | 15,657.32 |
| Loans & Advances | 2,777.09 | 2,751.77 | 1,975.11 | 1,306.44 | 2,806.38 |
| Other N/C Assets | 1,015.88 | 1,517.98 | 385.36 | 376.56 | 364.20 |
| Current Assets | 24,503 | 29,568.96 | 36,506.91 | 31,815.24 | 30,942.01 |
| Total Assets | 62,381.31 | 69,797.92 | 75,235.36 | 71,580.36 | 75,092.50 |
What is the future of ITC?
The future of ITC’s shares looks good based on the financial data and the current situation. The company has been making more money each year, which is a positive trend. It has also been able to increase its profits, which is a good sign for people who invest in the company. In coming years, the share price of ITC can rise by 170%.
People generally feel positive about ITC in the stock market. They have confidence in the company’s potential. This positive feeling, along with ITC’s strong performance, suggests that the company’s shares could grow in the future.
ITC is also doing well because it can change and adapt to the market. It has different types of businesses like selling consumer goods, running hotels, and working in agriculture and technology. This means that the company has many ways to make money and can keep growing.
Where to buy Shares of ITC
Buying shares of ITC is a simple process that allows you to become a part-owner of the company. Here’s where you can buy ITC shares:
- Zerodha
- Upstox
- ICICI Direct
- HDFC Securities
- Kotak Securities
- Angel Broking
- Sharekhan
- 5paisa
Experts analysis on ITC share price Targets
- BOB Capital Markets have given estimated targets of Rs 486 for ITC
- KRChoksey has suggested to buy ITC at Rs412 with share price target of Rs 492.
- ITC share price target by Axis Direct is Rs 480.
- Motilal Oswal recommended to buy ITC Ltd at Rs 419.70 with share price targets of Rs 485.
Conclusion
ITC Share price target is expected to grow by multiple times. The company has been performing well in terms of its financial growth. The company has consistently witnessed an increase in its net sales, profitability, and cash flows. This positive trend has caught the attention of the market, leading to a favorable sentiment towards the company. However, these projections should be considered as estimates and subject to various market factors. It’s always advisable to conduct thorough research and seek professional advice before making any investment decisions.
Frequently Asked Questions
Is ITC Overvalued?
Based on P/E and P/B ratios, ITC is currently at a moderate valuation.
Is ITC a good company to invest in?
ITC is a financially strong company to invest in 2023. The shares of the company are hitting new highs every month. In last two years, the share price of ITC has grown by over 273%.
Why is ITC rising?
The reason for constant rise in the share price of ITC is its strong fundamental and favourable government policies. Recently Indian government has advised to increase the production of Millets in the country, and ITC has a strong position in the Millets market.
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