Hindustan Unilever vs ITC
ITC trades at the larger discount to its peers' median P/E: 57% below it, against 37% below for Hindustan Unilever.
Hindustan Unilever earns the higher return on equity: 31.0% against 29.4%.
Both fire one forensic red flag on our checks.
The latest change on file is Hindustan Unilever's, on 12 Nov 2026: Interim Dividend - Rs 19 Per Share.
Hindustan Unilever trades at a P/E of 31.15: 2nd of 11 among its peers (peer median 49.2).
Hindustan Unilever: the full company page →ITC trades at a P/E of 18.81: 1st of 14 among its peers (peer median 44.1).
ITC: the full company page →Hindustan Unilever and ITC, figure by figure
| Figure | Hindustan Unilever | ITC | Leads |
|---|---|---|---|
| Market cap | ₹4,69,213 Cr | ₹3,55,217 Cr | Hindustan Unilever, larger |
| P/E | 31.15 | 18.81 | ITC, cheaper |
| P/B | 9.81 | 5.15 | ITC, cheaper |
| Dividend yield | 2.2% | 5.6% | ITC, higher |
| ROE | 31.0% | 29.4% | Hindustan Unilever, higher |
| ROCE | 25.2% | 38.0% | ITC, higher |
| Profit margin | 20.4% | 23.5% | ITC, higher |
| Revenue growth, 3 years | 4.6% a year | 3.8% a year | Hindustan Unilever, faster |
| Profit growth, 3 years | 14.1% a year | 2.5% a year | Hindustan Unilever, faster |
| 1-year return | −17.1% | −30.1% | Hindustan Unilever, higher |
| 5-year return | −4.9% a year | +3.5% a year | ITC, higher |
| Quality score | 50 | 48.2 | Hindustan Unilever, higher |
| Our valuation view | Dear, low confidence | Cheap, low confidence (held for review) | ITC, cheaper view |
| Risk level | WATCH | WATCH | Level |
| Forensic red flags | 1 red of 25 judged | 1 red of 19 judged | Level |
The leading figure is in green: the lower for P/E, P/B, cost to income, NPAs, risk and red flags, the higher for the rest. P/E and P/B on the latest price; growth rates are yearly averages; returns are price only. Our valuation view and the red flags are explained on each company's page.
Which is bigger, Hindustan Unilever or ITC?
Hindustan Unilever is the bigger company by market value: ₹4,69,213 Cr against ₹3,55,217 Cr for ITC, about 1.3 times as large.
Hindustan Unilever market cap is ₹4,69,213 crore (large cap), making it the 13th largest listed company on the NSE.
ITC market cap is ₹3,55,217 crore (large cap), making it the 24th largest listed company on the NSE.
Which is cheaper on valuation, Hindustan Unilever or ITC?
ITC is the cheaper of the two on P/E: 18.81 against 31.15 for Hindustan Unilever.
On price to book, ITC is also the cheaper: 5.15 against 9.81.
Against their own peers' median P/E, Hindustan Unilever trades 37% below its own (49.2) and ITC trades 57% below its own (44.1).
Our valuation view: dear on Hindustan Unilever (low confidence) and cheap on ITC (low confidence). The view weighs the multiples against each company's peers and its own history.
Which is more profitable, Hindustan Unilever or ITC?
Hindustan Unilever is the more profitable on return on equity: 31.0% against 29.4% for ITC.
ROCE: ITC 38.0%, Hindustan Unilever 25.2%.
Profit margin: ITC 23.5%, Hindustan Unilever 20.4%.
Which grew faster, Hindustan Unilever or ITC?
Hindustan Unilever grew faster over the last three years: revenue up 4.6% a year against 3.8% a year for ITC.
Profit growth, 3 years: Hindustan Unilever 14.1% a year, ITC 2.5% a year.
History break at Hindustan Unilever: demerger 2025-12-05 in the 3- and 5-year growth figures.
History break at ITC: demerger 2025-01-06 in the 3- and 5-year growth figures.
Which has cleaner accounts, Hindustan Unilever or ITC?
Hindustan Unilever and ITC fire the same number of our forensic red flags: 1.
Hindustan Unilever: risk level WATCH, 25 of 30 flags judged.
ITC: risk level WATCH, 19 of 30 flags judged.
A red flag is a figure out of line with what clean accounts show, not a finding of wrongdoing.
What these figures tell you
More comparisons
What this page rests on
Every figure is the one Hindustan Unilever's and ITC's own pages print, from their filings with the exchanges and our arithmetic on them; each company is set against its own peer set. A side-by-side reading of the figures on both company pages, not a recommendation to buy, sell or hold either share. Which figure matters more depends on what you are looking for.