ITI
- P/E
- Not meaningful: last twelve months’ earnings are mostly a one-off item
Key Fundamentals
SmallcapTelecom - Equipment & AccessoriesTelecomPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- 2.14%
- Debt to Equity
- 0.41
- EPS (TTM)
- ₹3.36
- Book Value
- ₹19.79
- Market Cap
- —
- P/E (TTM)
- Not meaningful: last twelve months’ earnings are mostly a one-off item
- P/B
- 12.87
- ROE
- −9.13%
- Dividend Yield
- 0.00%
- EBITDA
- ₹43.62 Cr
- 52W High
- ₹332.95
- 52W Low
- ₹210.76
- Volume
- 0
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 40
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 22
- Poor
- Cheap vs sector & own history 24% weight
- Growth
- 5
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 44
- Weak
- Solvency, leverage, coverage 9% weight
- Momentum
- 36
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 44
- Weak
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
6- Stock is trading at 12.4 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -18.3% over last 3 years.
- Earnings include an other income of Rs.501 Cr.
- Company has high debtors of 486 days.
- Company's cost of borrowing seems high
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bullish | 5 | 5 | 9 |
| Oscillators | Bullish | 1 | 5 | 3 |
| Moving Averages | Strong Bullish | 4 | 0 | 6 |
Oscillators
Bullish
Overall
Bullish
Moving Averages
Strong Bullish
Key readings
- RSI (14)
- 58.56
- Neutral
- MACD (12,26,9)
- −1.87
- Bullish
- SMA (50)
- 250.97
- Bullish
- SMA (200)
- 276.94
- Bearish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +5.72% |
|---|---|
| 5Y | −1.55% |
| 3Y | +16.12% |
| 1Y | −39.60% |
| TTM | −41.28% |
Net profit
| 10Y | +1.56% |
|---|---|
| 5Y | +92.79% |
| 3Y | Turned to profit |
| 1Y | Turned to profit |
| TTM | Turned to profit |
Operating cash flow
| 10Y | Outflow narrowed by ₹286 Cr |
|---|---|
| 5Y | Turned negative |
| 3Y | Outflow narrowed by ₹261 Cr |
| 1Y | Outflow narrowed by ₹121 Cr |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | +16.67 pp |
|---|---|
| 5Y | +0.77 pp |
| 3Y | +13.97 pp |
| 1Y | +4.59 pp |
| TTM | +4.04 pp |
Revenue by year
| Mar 2017 | ₹1,528 Cr |
|---|---|
| Mar 2018 | ₹1,475 Cr |
| Mar 2019 | ₹1,668 Cr |
| Mar 2020 | ₹2,059 Cr |
| Mar 2021 | ₹2,362 Cr |
| Mar 2022 | ₹1,861 Cr |
| Mar 2023 | ₹1,395 Cr |
| Mar 2024 | ₹1,264 Cr |
| Mar 2025 | ₹3,616 Cr |
| Mar 2026 | ₹2,184 Cr |
Net profit by year
| Mar 2017 | ₹266 Cr |
|---|---|
| Mar 2018 | ₹231 Cr |
| Mar 2019 | ₹93.00 Cr |
| Mar 2020 | ₹147 Cr |
| Mar 2021 | ₹11.00 Cr |
| Mar 2022 | ₹120 Cr |
| Mar 2023 | −₹360 Cr |
| Mar 2024 | −₹569 Cr |
| Mar 2025 | −₹233 Cr |
| Mar 2026 | ₹293 Cr |
AI Analysis — Bull vs Bear
As of 2026-11-02, ITI Ltd trades at ₹259.14 with a market cap of ₹24,178 Cr, commanding a PE of 77.13x and a price-to-book of 13.09x. The company shows recent profit growth of 51% on a TTM basis but faces a sharp 41% TTM decline in sales, alongside a negative 3-year average ROE of -18%, reflecting a mixed operational picture.
- TTM profit growth stands at 51%, indicating a sharp recent improvement in bottom-line performance
- Debt-to-equity ratio is 0.41 as of 2026-11-02, and the company has been actively reducing debt, strengthening the balance sheet
- ROCE of 24.45% suggests the company is generating reasonable returns on total capital employed
- 3-year compounded profit growth of 16% shows a sustained earnings recovery trend beyond just the latest period
- 3-year compounded sales growth of 16% indicates underlying revenue momentum over the medium term despite recent TTM weakness
- 10-year stock CAGR of 23% reflects significant long-term wealth creation for patient holders
- Current price of ₹259.14 is about 22% below the 52-week high of ₹332.95, offering a potential entry zone if fundamentals hold
- TTM sales have declined 41%, signalling a severe revenue contraction in the most recent period
- PE of 77.13x as of 2026-11-02 is very elevated, implying the stock prices in substantial future growth that may not materialise
- 3-year average ROE is -18.3%, indicating the company has consistently destroyed shareholder value over the medium term
- Debtor days stand at 486, meaning the company takes over 16 months to collect receivables — a significant working capital and cash flow risk
- Earnings include other income of ₹501 Cr, suggesting core operating profit is materially lower than reported headline numbers
- Price-to-book of 13.09x is exceptionally high for a company with negative historical ROE, suggesting the stock is priced well above asset value
- Interest coverage ratio is low, indicating that debt servicing absorbs a large portion of operating earnings despite recent debt reduction
- 1-year stock return of -29% reflects significant recent capital erosion and negative market sentiment
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Recent newsflow for ITI Ltd is entirely procedural — audit appointments, AGM scheduling, and regulatory filings with no material positive or negative catalysts. The BRSR does flag a revenue mix shift towards services and projects, which could signal strategic evolution but lacks quantified detail. No headwinds or bullish triggers are visible in this batch; the outlook hinges on upcoming operational updates or order wins for directional clarity.
- Six audit firms for FY27 Oct 19
CAG appointed S Viswanathan LLP as statutory auditor and five branch auditors for ITI Limited for FY27.
- 76th AGM set Nov 4 Oct 13
Book closure dates announced from Oct 29 to Nov 4, 2026, ahead of the 76th Annual General Meeting on November 4.
- BRSR filed with assurance Oct 13
ITI filed its Business Responsibility and Sustainability Report for FY26 with reasonable assurance from MITCON, noting a shift in revenue mix towards services and projects.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 157 | 246 | 259 | 601 | 520 | 1,016 | 1,035 | 1,046 | 498 | 543 | 515 | 628 | 425 |
| Expenses | 206 | 299 | 302 | 775 | 533 | 1,025 | 1,045 | 1,074 | 505 | 545 | 489 | 601 | 423 |
| Operating Profit | −49 | −53 | −43 | −174 | −13 | −9 | −11 | −28 | −7 | −1 | 25 | 27 | 2 |
| OPM % | −31% | −21% | −17% | −29% | −2.4% | −0.8% | −1% | −2.7% | −1.5% | −0.2% | 4.9% | 4.3% | 0.4% |
| Other Income | 13 | 10 | 13 | 9 | −11 | 14.67 | 20 | 98 | 9 | 14.82 | 8 | 472 | 8 |
| Interest | 55 | 69 | 57 | 60 | 53 | 62 | 64 | 45 | 51 | 53 | 48 | 45 | 30 |
| Depreciation | 12 | 13 | 14 | 14 | 14 | 14 | 13 | 29 | 15 | 13 | 11 | 18 | 13 |
| PBT | −103 | −126 | −102 | −239 | −91 | −70 | −67 | −5 | −63 | −54 | −26 | 436 | −32 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | −103 | −126 | −102 | −239 | −91 | −70 | −67 | −5 | −63 | −54 | −26 | 436 | −32 |
| EPS (₹) | −1.07 | −1.31 | −1.06 | −2.49 | −0.95 | −0.73 | −0.7 | −0.05 | −0.66 | −0.56 | −0.27 | 4.53 | −0.34 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 574 | 1,252 | 1,528 | 1,475 | 1,668 | 2,059 | 2,362 | 1,861 | 1,395 | 1,264 | 3,616 | 2,184 | 2,111 |
| Expenses | 785 | 1,424 | 1,633 | 1,394 | 1,769 | 1,913 | 2,311 | 1,752 | 1,549 | 1,582 | 3,676 | 2,120 | 2,058 |
| Operating Profit | −210 | −172 | −105 | 81 | −100 | 146 | 51 | 109 | −154 | −318 | −60 | 64 | 53 |
| OPM % | −37% | −14% | −7% | 6% | −6% | 7% | 2.2% | 6% | −11% | −25% | −1.7% | 2.9% | 2.5% |
| Other Income | 86 | 594 | 541 | 327 | 336 | 184 | 161 | 255 | 53 | 43 | 120 | 503 | 501 |
| Interest | 157 | 157 | 153 | 153 | 106 | 141 | 160 | 192 | 210 | 241 | 224 | 217 | 176 |
| Depreciation | 15 | 13 | 17 | 25 | 37 | 42 | 42 | 51 | 50 | 53 | 69 | 56 | 54 |
| PBT | −297 | 251 | 266 | 231 | 93 | 147 | 11 | 120 | −360 | −569 | −233 | 293 | 324 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
| Net Profit | −297 | 251 | 266 | 231 | 93 | 147 | 11 | 120 | −360 | −569 | −233 | 293 | 324 |
| EPS (₹) | −10.32 | 8.72 | 4.76 | 3.03 | 1.03 | 1.59 | 0.12 | 1.29 | −3.79 | −5.92 | −2.43 | 3.04 | 3.36 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 288 | 288 | 560 | 760 | 897 | 925 | 934 | 934 | 950 | 961 | 961 | 963 |
| Reserves | 125 | 389 | 499 | 868 | 897 | 1,357 | 1,475 | 1,640 | 1,390 | 789 | 611 | 889 |
| Borrowings | 1,521 | 1,439 | 1,524 | 1,226 | 1,259 | 1,216 | 1,465 | 1,613 | 1,877 | 1,801 | 1,481 | 765 |
| Other Liabilities | 3,441 | 3,752 | 2,965 | 4,189 | 3,943 | 4,225 | 5,043 | 5,394 | 5,280 | 6,054 | 7,360 | 6,745 |
| Total Liabilities | 5,374 | 5,868 | 5,548 | 7,044 | 6,995 | 7,723 | 8,917 | 9,580 | 9,497 | 9,605 | 10,412 | 9,362 |
| Fixed Assets | 2,423 | 2,458 | 2,506 | 2,620 | 2,695 | 2,693 | 2,702 | 2,729 | 2,752 | 2,732 | 2,710 | 2,370 |
| CWIP | 33 | 92 | 102 | 149 | 165 | 189 | 169 | 150 | 139 | 142 | 19 | 16 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2,917 | 3,318 | 2,939 | 4,274 | 4,135 | 4,841 | 6,046 | 6,701 | 6,605 | 6,730 | 7,683 | 6,976 |
| Total Assets | 5,374 | 5,868 | 5,548 | 7,044 | 6,995 | 7,723 | 8,917 | 9,580 | 9,497 | 9,605 | 10,412 | 9,362 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | −149 | −319 | −347 | −109 | 22 | −197 | 96 | −436 | −294 | 974 | −154 | −33 |
| Investing | −10 | −104 | −75 | −96 | −124 | −75 | −306 | 177 | 46 | −543 | 669 | 842 |
| Financing | 398 | 273 | 468 | 364 | −19 | 285 | 198 | 247 | 241 | −322 | −485 | −933 |
| Net Cash Flow | 239 | −150 | 45 | 158 | −121 | 13 | −12 | −12 | −6 | 109 | 30 | −124 |
| Free Cash Flow | −161 | −425 | −424 | −207 | −106 | −259 | 92 | −493 | −338 | 937 | 44 | 847 |
| CFO/EBITDA | 71 | 185 | 332 | −134 | −22 | −135 | 187 | −401 | 191 | −306 | 256 | 70 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1,170 | 500 | 525 | 762 | 581 | 490 | 394 | 536 | 635 | 709 | 403 | 486 |
| Inventory Days | 247 | 75 | 110 | 126 | 114 | 167 | 196 | 118 | 261 | 215 | 41 | 254 |
| Days Payable | 3,637 | 1,021 | 1,228 | 1,482 | 1,109 | 1,500 | 1,578 | 855 | 1,242 | 1,286 | 514 | 2,670 |
| Cash Conversion Cycle | −2,220 | −447 | −594 | −594 | −414 | −844 | −988 | −202 | −345 | −361 | −70 | −1,930 |
| Working Capital Days | −985 | −608 | −283 | −230 | −145 | −117 | −131 | −36 | −103 | −488 | −145 | −131 |
| ROCE % | −8% | 15% | 18% | 14% | 7% | 9% | 5% | 8% | −4% | −8% | −1% | 2% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view ITI insights
88 extracted metrics across FY11–FY27.
Documents
- 14 Nov 2024
- 3 Aug 2026
- 5 Feb 2026
- 20 Oct 2025
- 18 Aug 2025
- 21 May 2025
- General announcements 19 Oct 2026
- General announcements 14 Oct 2026
Frequently Asked Questions about ITI
What does ITI Ltd do?
Where is ITI Ltd (ITI) listed?
Which sector does ITI Ltd belong to?
What is the 52-week high and low of ITI Ltd?
What is the Return on Equity (ROE) of ITI Ltd?
Company Information
ITI Limited is engaged in manufacturing, trading and servicing of telecommunication equipment, and rendering other associated and ancillary services. The Company focuses on offering telephone communication services.
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