ITI · NSE · Telecom - Equipment & Accessories
ITI Ltd
What the numbers mean, from its filings and the exchange. Data as of 13 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Communication Services
dear
low confidence
No valuation within 120 days; P/E 87.6 vs peers 32.5 (9th of 11); P/B 15.8 vs peers 2.8 (10th of 10).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model
What is ITI's share price today?
ITI last traded at ₹243.49 on the NSE, as of 13 Oct 2026, 10:45 am IST, up 1.3% on the day, down 29.4% over a year. Its 52-week range is ₹236 to ₹358. The live price is in the app.
₹243.49
+1.3% today
−29.4% over 1 year · NSE, as of 13 Oct 2026, 10:45 am IST
60 month-end closes, 31 Jul 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range6% of the way up
Low ₹236High ₹358
What is ITI's market cap?
ITI's market capitalisation is about ₹23,141 crore: what it would cost to buy every share at today's price. That makes it the 85th largest small cap company we cover.
₹23,141 Cr
Small Cap85th largest small cap company
Share price₹243.49
×
Shares in issue95 crore
=
Market cap₹23,141 Cr
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: ITI
- ISIN
- INE248A01017
- Cap bucket
- Small Cap, 85th largest by market cap
- Industry (NSE)
- Telecommunication › Telecom - Equipment & Accessories
- Listed since
- 2003
- Futures and options
- Not traded
Is ITI overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 87.6 vs peers 32.5 (9th of 11); P/B 15.8 vs peers 2.8 (10th of 10).
Valuation
Latest price and trailing 12 months
P/E
87.64
vs peers 32.5 · 9th of 11
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
15.77
vs peers 2.8 · 10th of 10
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹23,141 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
18.69
vs peers 18.8 · 4th of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
Not available
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
1 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 60 of 36 months of P/E history; Warranted P/B: no ROE
Is ITI a quality business?
WATCH on 18 of 30 flags judged.
Quality and risk
Data as of 13 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
Not available
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
18 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Profitability
ROE
Not available
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE
Not available
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin
12.4%
vs peers 7.7% · 4th of 12
Profit after everything, as a share of revenue. Learn more →
EPS
₹-2.24
Trailing 12 months
Profit for each share over the last 12 months.
Inside the app
Get a sneak peek of Valarth
Has ITI made money for shareholders?
Mixed: −29.4% over one year and +14.6% a year over five years.
Shareholder returns
5-year return
+14.6% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
−3.1%1M
−5.9%3M
−17.3%6M
−16.9%1Y
−29.4%3Y
−3.0%5Y
+14.6%Is ITI growing?
Revenue 3 years 22.9% a year; revenue 5 years 4.4% a year; profit 5 years 22.1% a year.
Growth
Statements through FY2026 (Mar-26)
Revenue 3 years
22.9% a year
vs peers 11.3% · 4th of 12
Compound annual growth of revenue over three years. Learn more →
Profit 3 years
Not available
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years
4.4% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years
22.1% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years
Not available
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years
97.2% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history
Not available
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →
How did ITI do last quarter?
ITI reported revenue of ₹425 Cr, up 186.2% on a year earlier and a net profit of ₹-32 Cr, down 62.2% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Revenue, latest quarter₹425 Cr
+186.2% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹-32 Cr
−62.2% on a year earlier
What was left for shareholders after every cost and tax.
How does ITI compare with its peers?
Compared with 12 Telecommunication (the sector, as the industry was too small); 9th of 11 on P/E.
Compared with 12 Telecommunication (the sector, as the industry was too small)
12 companies
- ITI Ltd (this page)
- Vodafone Idea Ltd
- Indus Towers Ltd
- Bharti Hexacom Ltd
- Sterlite Technologies Ltd
- Tata Communications Ltd
- HFCL Ltd
- Tejas Networks Ltd
- Railtel Corporation of India Ltd
- Tata Teleservices (Maharashtra) Ltd
- Orient Cables (India) Ltd
- Pace Digitek Ltd
- Route Mobile Ltd
ITI against its peers
Largest 10 of 12 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
ITI Ltd₹23,141 Cr87.615.8——−29.4%
Vodafone Idea Ltd₹1.4 L Cr3.8—-38.9%-1.1%+45.1%
Tejas Networks Ltd₹8,174 Cr—2.4——−22.6%
Railtel Corporation of India Ltd₹7,962 Cr23.03.516.2%19.8%−34.1%
Tata Teleservices (Maharashtra) Ltd₹6,455 Cr173.1———−42.2%
Orient Cables (India) Ltd₹4,673 Cr——25.9%24.4%+1.4%
Peer median—32.52.813.3%16.3%−11.1%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns ITI?
ITI is held by promoters 90.0%, foreign institutions 0.1%, domestic institutions 0.1%.
Shareholding pattern
Latest filing, percent of shares
Promoters90.0%
The founders and controlling group.
Foreign institutions0.1%
Overseas funds investing through the FPI route.
Domestic institutions0.1%
Indian insurers, banks, pension and mutual funds together.
Mutual funds0.1%
Indian mutual fund schemes; part of domestic institutions.
Retail and others1.7%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What does ITI do and what is it sensitive to?
ITI Limited supplies products, services and turnkey products to defence, government, PSU and private customers, according to its FY2025 filing. Sensitive to: interest rates on variable-rate borrowings.
Business-model card
FY2025 · 38 verified
3Revenue
5Channels
2Regulators
5Reg. dependencies
3Sensitivities
5Costs
3Geographies
ITI Limited supplies products, services and turnkey products to defence, government, PSU and private customers, according to its FY2025 filing. Revenue comes from contracts with customers, recognised over time or at a point in time, and some items are manufactured in-house at its plants.
Revenue engine
3 verified
Passive telecom items: OFC, HDPE, Smart Racks and Power Supply Systems
Company states it manufactured these passive items itself; the excerpt does not give revenue for this line.
Product manufacturing for BSNL 4G RAN and network implementation
Named product and implementation programme for BSNL 4G RAN. Interpretation: this is a customer-specific manufacturing line; its size is not stated.
R&D products productionised for sale (encryption, field telephones, multi-post EVM)
Company states these productised R&D products contributed more than Rs.10 Cr turnover to the Company.
Customers & channels
5 verified
Army, Navy, Indian Air Force and Ministry of Home Affairs
Defence and security customers the company lists as customers for its products, services and turnkey products.
PSUs such as BSNL, MTNL, BEL and NTPC
Public sector undertakings listed as customers; Interpretation: these are government-owned buyers whose orders depend on government spending.
Central and State Government organisations and utilities
Government bodies and state utilities listed as customers, such as OPTCL, TANFINET and KITE.
2 more statements
Private customers: banks, schools, universities, hospitals, telecom operators
Private buyers the company lists, including Vodafone and Airtel; the excerpt does not state their share.
Government tenders published on the company website
Company states tenders are hosted on its website and open tender is available for participation; this is the procurement channel for value-chain partners.
Regulators
2 verified
Department of Telecommunications (DoT)
Sets national telecom targets such as broadband connectivity and fibre rollout, which shape demand for the company's telecom products.
Telecom Regulatory Authority of India
Listed in the auditor's compliance review as an authority applicable to the company's telecom business; the excerpt does not state its specific rules.
Regulatory dependencies
5 verified
Govt. PLI scheme and promotion of indigenization
Company names PLI and indigenisation promotion as a market opportunity. Interpretation: a change to PLI eligibility or incentives would move manufacturing revenue.
PLI eligibility for BharOS-based network hardware
Company states the BharOS-based capability must be considered eligible for PLI even where hardware is sourced from anywhere. Interpretation: an eligibility ruling would change whether such hardware earns incentive-linked margin.
Aatmanirbhar Bharat Phased Manufacturing Program
Government programme that promotes local production in designated digital communication segments; Interpretation: it favours domestic manufacturers in those segments.
2 more statements
Policy interventions favouring the private sector
Company lists this as a threat. Interpretation: procurement preference shifting to private firms would reduce orders from government and PSU buyers.
PSU procedures and compliance requirements
Company states that stringent procedures and compliance, especially being a PSU, make it difficult to compete with smaller private players.
Sensitivities
3 verified
Interest rates on variable-rate borrowings
Table shows profit before tax impact of 588.05 for a 50 bp increase and -588.05 for a 50 bp decrease as at 31 March 2025; variable-rate borrowings were 117,609.77 of 147,609.77 total.
Semiconductor shortage and component delays
Company states it is taking alternate sourcing and redesign steps to shorten procurement cycle time for semiconductors. Interpretation: shortages lengthen delivery and inventory cycles.
Rapid technological change
Company states rapid technological change renders OEM and TSP investment out of date within a short time span. Interpretation: faster change raises obsolescence risk for existing products.
Cost inputs
5 verified
Critical components and technologies
Company lists difficulty in sourcing a few critical components and technologies as a threat; the excerpt does not name suppliers.
Technology partner C-DOT and alternate sourcing
Company states it coordinates with technology partners such as C-DOT and sources proactively to shorten procurement cycle time.
Foreign exchange outgo
Company reports foreign exchange outgo of Rs 11.38 Cr against nil earnings. Interpretation: the company has no foreign-currency inflow to offset this outflow.
2 more statements
Revenue R&D expenditure
Company reports revenue R&D expenditure of Rs. 12.83 Cr with nil capital R&D; the excerpt states R&D as 1.55% of turnover.
Skilled personnel and attrition
Company states the main challenge is a shortage of skilled personnel due to attrition of trained and experienced employees.
Geographies
3 verified
Domestic market
Company states its performance depends on economic conditions affecting demand and price conditions in the domestic market in which it operates.
International presence
Company states its international presence is currently less and it plans marketing offices.
South East Asia, Middle East and Africa
Company names these regions as targets for new business through collaboration with Indian companies and local partners.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (13 Aug 2026).
Change log
8 entries · newest first
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
- Corporate actionAnnual General Meeting.
- Corporate actionAnnual General Meeting.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 60 of 36 months of P/E history; Warranted P/B: no ROE.
- FlagsWATCH on 18 of 30 flags judged; 2 red; 12 could not be judged.
- Data gapsDividend yield, PEG on our 3-year EPS growth, Business quality, Quality score, ROE, ROCE and 3 more: not available yet.
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓273 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 38 verified
Questions people ask
What is ITI's share price today?
ITI last traded at ₹243.49 on the NSE, as of 13 Oct 2026, 10:45 am IST, up 1.3% on the day, down 29.4% over a year. Its 52-week range is ₹236 to ₹358. The live price is in the app.
What is ITI's market cap?
ITI's market capitalisation is about ₹23,141 crore: what it would cost to buy every share at today's price. That makes it the 85th largest small cap company we cover.
Is ITI Ltd a large cap, mid cap or small cap?
ITI Ltd (ITI) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is ITI Ltd's P/E ratio?
87.64, vs peers 32.5 · 9th of 11. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is ITI Ltd overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 87.6 vs peers 32.5 (9th of 11); P/B 15.8 vs peers 2.8 (10th of 10).
How does ITI Ltd make money?
ITI Limited supplies products, services and turnkey products to defence, government, PSU and private customers, according to its FY2025 filing. Revenue comes from contracts with customers, recognised over time or at a point in time, and some items are manufactured in-house at its plants.
Who are ITI Ltd's peers?
Compared with 12 Telecommunication (the sector, as the industry was too small): Vodafone Idea Ltd, Indus Towers Ltd, Bharti Hexacom Ltd, Sterlite Technologies Ltd, Tata Communications Ltd and 7 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did ITI do last quarter?
ITI reported revenue of ₹425 Cr, up 186.2% on a year earlier and a net profit of ₹-32 Cr, down 62.2% in the Jun 2026 quarter.
Who owns ITI?
ITI is held by promoters 90.0%, foreign institutions 0.1%, domestic institutions 0.1%.
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