ITI Limited (ITI) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of ITI Limited ₹51.70, price ₹242, upside -78.6%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range ₹81.45 – ₹544.35 · fair‑value band ₹38.78 – ₹65.75 · the ₹241.54 price screens above the ₹51.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 30, 2026.
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ITI Limited engages in the manufacture, sale, and servicing of telecommunication equipment and building communication network infrastructures in India. The company's telecom products and solutions include switching, transmission, access, and subscriber premises equipment.
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ITI Limited engages in the manufacture, sale, and servicing of telecommunication equipment and building communication network infrastructures in India. The company's telecom products and solutions include switching, transmission, access, and subscriber premises equipment. It also offers 4G radio equipment, and defence electronics products and systems; encryptors for defence; and other telecom products, including laptops /smaash PCs, solar panels/ modules/ power packs, optical fiber cable, HDPE, ONT, OLT, ODC, and telephones and smart cards. In addition, the company is involved in contract manufacturing of water pipes, 4G RAN Equipment, Tablet PC, etc. Further, it provides optical fiber cable, solar panel, HDPE manufacturing; smart energy meters; surface mount technology assembly; 3D printing; military telephones; SARAL tablet; GPON; data center; and operates VSSC component screening and telecom testing center. Additionally, the company builds communication networks using internet protocol/multi-protocol label switching technology, optical fibre cable, microwave radio, and satellite communication channels; provides customized support; and engages in turnkey contracts/solutions. ITI Limited was founded in 1948 and is based in Bengaluru, India.
Stock analysis
ITI Limited (ITI) currently trades at ₹241.54, while our model-based Fair Value estimate is ₹51.70, 78.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹79.71 per share, and 0 of the 9 models we run sit above the ₹241.54 price.
Bear case: the Earnings-Based group reads lowest at ₹13.05, and 9 of the 9 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹38.78 (bear) to ₹65.75 (bull), the price of ₹241.54 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
ITI Limited reported revenue of ₹21.8B in FY2026 versus ₹18.6B in FY2022, a compound +4.1%/yr. Reported net income was ₹2.9B in FY2026, compounding +25.3%/yr from FY2022.
Key figures
Market cap ₹233B (≈ $2.4B) · P/E ratio 71.9 · P/S ratio 9.64 · EPS (TTM) ₹3.36 · Net margin 13.4% · Return on equity 16.6% · Return on assets (EBIT) −1.6% · Operating margin −2.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 32% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −79%, ITI screens richer than that median.
Fair Value models
Bear ₹38.78Fair Value ₹51.70Bull ₹65.75
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹1.69 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.25/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−39.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.6%
Start year 2021 (pandemic). Over 10 years: +6.3% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.4%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+19.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19.1% vs −8.8%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → −16%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Communication Equipment · 300 stocks
Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−79.0% · Bottom 25%
Profitability
Return on equity (TTM)16.6% · Top 25%
Return on assets−0.1% · Below median
Net margin (TTM)15.4% · Top 25%
Operating margin (TTM)−2.5% · Below median
Growth and dividend
Revenue growth−14.7% · Bottom 25%
Valuation Multiplesvs Communication Equipment median · lower = cheaper
P/E (TTM)71.9× · Pricier than median
P/B12.45× · Priciest 25%
P/S (TTM)11.24× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 31
PAST (return on equity)66· sector 16
HEALTH (low debt)100· sector 98
DIVIDEND (yield)0· sector 24
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ITI Limited Fair Value". https://www.fairvalue-calculator.com/stock/ITI
Frequently asked questions
Is ITI Limited (ITI) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of ₹51.70 versus a price of ₹241.54, about −79% upside (overvalued).
What is the fair value of ITI?
Our model-based fair value for ITI Limited is ₹51.70 (as of Sep 30, 2026), built from audited fundamentals. The current price: ₹241.54.
What is the quality score of ITI?
ITI Limited has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ITI Limited (ITI)?
Our model-based price target is the fair value of ₹51.70 (as of Sep 30, 2026) from 9 valuation models. Cautious scenario ₹38.78, optimistic scenario ₹65.75. It is a calculation from audited fundamentals, not an analyst target.
What is the ITI Limited stock forecast for 2026?
Our models put fair value at ₹51.70, about −79% upside versus a price of ₹241.54 (overvalued). Cautious scenario ₹38.78, optimistic scenario ₹65.75. The calculation is refreshed regularly with new filings.
What is the revenue of ITI Limited (ITI)?
ITI Limited reported trailing-twelve-month revenue of about ₹21.1B (latest available figure, as of Sep 30, 2026).
What is the intrinsic value of ITI Limited (ITI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ITI Limited it is ₹51.70 per share (as of Sep 30, 2026), against a price of ₹241.54. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is ITI Limited stock overvalued or undervalued in 2026?
As of Sep 30, 2026, ITI trades above its calculated fair value: price ₹241.54, fair value ₹51.70, a gap of about −79% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ITI?
No. The price is what the market pays today (₹241.54); the fair value is what the company's own numbers justify (₹51.70). For ITI Limited the two are ₹189.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is ITI Limited worth?
The market values ITI Limited at about ₹233B (market capitalisation, as of Sep 30, 2026). Per share that is ₹241.54; our models calculate a fair value of ₹51.70 per share.
What do the bullish and bearish scenarios say about ITI?
Our models span a range for ITI Limited: cautious scenario ₹38.78, base ₹51.70, optimistic ₹65.75 per share (as of Sep 30, 2026, price ₹241.54). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ITI?
ITI Limited trades at a price-to-earnings ratio of 71.9 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹51.70 is built from several models across several years. Other multiples: P/B 12.5, P/S 11.2.
How solid is the balance sheet of ITI Limited (ITI)?
Balance-sheet figures for ITI Limited (as of Sep 30, 2026): return on equity 16.6%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is ITI from its 52-week high?
ITI Limited trades at ₹241.54, about 32% below its 52-week high of ₹356.65 and 1% above the low of ₹239.05 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹51.70 is for.
Which stocks are comparable to ITI Limited?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Eoptolink Technology Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ITI Limited stock attractive at the current price?
The data as of Sep 30, 2026: price ₹241.54, calculated fair value ₹51.70 (−79%), Quality Score 48/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ITI calculated?
We run ITI Limited through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹51.70, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. ITI Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ITI Limited (ITI)?
The closing price on Oct 1, 2026 was ₹241.54. Our model-based fair value is ₹51.70, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ITI Limited right now?
The price sits above even our optimistic bull case (₹65.75). The favourable scenario is already priced in. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of ITI Limited
How large is the market capitalisation of ITI Limited (ITI)?
The market capitalisation of ITI Limited is ₹233B (≈ $2.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ITI Limited (ITI)?
The price-to-sales ratio of ITI Limited is 9.64 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ITI Limited (ITI)?
Earnings per share at ITI Limited are ₹3.36 (price ÷ EPS = P/E 71.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ITI Limited (ITI)?
The net margin of ITI Limited is 13.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ITI Limited (ITI)?
The return on equity (ROE) of ITI Limited is 16.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ITI Limited (ITI)?
On an EBIT basis the return on assets of ITI Limited is −1.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ITI Limited (ITI)?
The operating margin of ITI Limited is −2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ITI Limited (ITI)?
Revenue at ITI Limited is growing −14.7% versus a year earlier (3y avg +16.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ITI Limited (ITI)?
Earnings per share at ITI Limited are growing +77.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ITI Limited (ITI) generate?
The free cash flow of ITI Limited is −₹3.2B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ITI Limited (ITI) carry?
The net debt of ITI Limited is ₹4.1B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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