On 6 Nov 2026, ITI was priced at ₹248.85, or 135.2× trailing earnings, against an industry P/E of 40.6×, and the shares are 25% below their 52-week high. It earns ROCE of 14% and ROE of 17%, and sales grew 16% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Debt is 0.40× equity. It is a small-cap company with a market cap of ₹23,961 Cr, ranked 3rd of 24 Communication Equipment companies by market cap; the shares fell 23% over the past year.
- ₹247.60
- ₹251.48
- ₹245.02
- ₹250.29
- 4.2 L
Health check
- ReturnsBehind
−22.6% over a year, better than 1 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthStrong
Sales +16.1% a year over 3 years.
- ProfitabilityAverage
ROCE 14.4% vs peer median 9.5%.
- Balance sheetFair
Debt 0.40× equity, interest covered 2.8×, Piotroski 5 of 9.
- Red flags4 to check
Quarterly sales down 14.7% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹23,961 Cr
- Small cap
- P/E
- 135.2
- Industry 40.6
- Price to book
- 12.57
- Peers 5.71
- Dividend yield
- 0.00%
- ROE
- 16.6%
- Peers 16.0%
- ROCE
- 14.4%
- Peers 9.5%
- Debt to equity
- 0.40
- Debt ₹765 Cr
- EPS (TTM)
- ₹1.84
- Face value ₹10
- OPM (TTM)
- −4.0%
- Net margin 15.4%
- Sales growth
- −14.7%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 11.35
- EV/EBITDA 456.6
Strengths and risks
Risks to check
- Quarterly sales down 14.7% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 135.2 against an industry P/E of 40.6.
- Interest coverage of only 0.4×.
About ITI
ITI Limited engages in the manufacture, sale, and servicing of telecommunication equipment and building communication network infrastructures in India. The company's electronic products includes digital mobile radio (DMR) system, smart energy meters, mini personal computers, smaash laptop, 3D Printing, bank automation products, GPON OLT and ONT, PCM multiplexers, ruggedized telephones for defence forces, smart cards and banking cards, hand held terminals…
- Headquarters
- Bengaluru
- Employees
- 556
- Sector
- Technology
- ISIN
- INE248A01017
- Website
- itiltd.in
Price range
- Avg volume (3M)
- 9.6 L
- 1-year return
- minus 22.6%
- From 52-week high
- minus 25.3%
Peers · Communication Equipment
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| STLTECHSterlite Technologies | 719.90 | minus 5.00% | 37,018 | 52.4 | 65.8 | 8.0% | 22.0% | 0.22 | −11.8% | plus 530.2% |
| HFCLHFCL | 210.66 | minus 5.00% | 32,237 | 36.8 | 42.9 | 10.8% | 21.2% | 0.34 | 1.3% | plus 188.1% |
| ITIITI | 248.85 | minus 0.58% | 23,961 | 135.2 | 350.1 | 14.4% | −4.0% | 0.40 | 16.1% | minus 22.6% |
| ASTRAMICROAstra Microwave Products | 1,557.80 | minus 0.01% | 14,791 | 78.4 | 44.6 | 20.8% | 28.6% | 0.22 | 12.6% | plus 47.1% |
| TEJASNETTejas Networks | 417.20 | minus 1.59% | 7,422 | – | – | −29.5% | −23.2% | 1.97 | 6.1% | minus 21.7% |
| AVANTELAvantel | 138.69 | minus 1.24% | 3,686 | 190.0 | 76.9 | 8.2% | 24.7% | 0.31 | 12.9% | minus 16.3% |
| PACEDIGITKPace Digitek | 158.13 | minus 1.62% | 3,413 | 9.8 | 8.5 | 16.1% | 16.3% | 0.57 | 73.8% | minus 26.6% |
| PARACABLESParamount Communications | 64.13 | minus 6.11% | 2,099 | 27.9 | – | – | 5.7% | 0.15 | – | plus 59.2% |
| Median of 7 peers | – | −1.62% | 7,422 | 44.6 | 44.6 | 9.5% | 21.2% | 0.31 | 9.4% | 47.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 498 | 543 | 515 | 628 | 425 | |
| 505 | 545 | 489 | 739 | 423 | |
| −7.3 | −1.2 | 25.3 | −111 | 1.8 | |
| −1.5% | −0.2% | 4.9% | −17.7% | 0.4% | |
| 12.8 | 14.7 | 12.6 | 13 | 8.6 | |
| 50.9 | 53 | 47.6 | 80.8 | 30 | |
| 14.6 | 13.2 | 11 | −95 | 12.5 | |
| −3.6 | −1.7 | −4.6 | 459 | −0.1 | |
| −63.6 | −54.4 | −25.3 | 375 | −32.3 | |
| −63.6 | −54.4 | −25.3 | 375 | −32.3 | |
| -0.66 | -0.57 | -0.26 | 3.00 | -0.33 |
Profit & loss
- Sales CAGR 3Y
- +16.1%
- ROE
- 16.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,395 | 1,264 | 3,616 | 2,184 | |
| – | minus 9.4% | +186.2% | minus 39.6% | |
| 1,539 | 1,562 | 3,654 | 2,114 | |
| −143 | −299 | −37.1 | 70.2 | |
| −10.3% | −23.7% | −1.0% | 3.2% | |
| −1.1 | −2.2 | 43.2 | 0.5 | |
| 181 | 205 | 186 | 166 | |
| 49.5 | 53.1 | 69.2 | 56.5 | |
| 15.4 | −9.8 | 33.8 | 445 | |
| −360 | −569 | −215 | 293 | |
| −360 | −569 | −215 | 293 | |
| -3.81 | -5.92 | -2.24 | 3.04 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 950 | 961 | 961 | 963 | |
| 1,425 | 823 | 664 | 943 | |
| 1,877 | 1,801 | 1,481 | 765 | |
| 5,240 | 6,012 | 7,317 | 6,676 | |
| 9,491 | 9,597 | 10,422 | 9,347 | |
| 2,823 | 2,806 | 2,475 | 2,135 | |
| 139 | 142 | 18.5 | 15.6 | |
| 35.2 | 75.3 | 125 | 107 | |
| 51.6 | 658 | 300 | 154 | |
| 6,443 | 5,916 | 7,504 | 6,936 | |
| 9,491 | 9,597 | 10,422 | 9,347 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −294 | 974 | −135 | −33.4 | |
| 46.2 | −543 | 651 | 842 | |
| 241 | −322 | −485 | −933 | |
| −6.2 | 109 | 30.5 | −124 | |
| −60.7 | −37.6 | −15.9 | −4.3 | |
| −354 | 936 | −151 | −37.7 | |
| – | −0 | – | – |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 0.1% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.