ITI Ltd.

NSE: ITI · Telecom - Equipment & Accessories

52W Range₹237 ₹373

Snapshot

Unlock ITI Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

ITI Limited is a state-owned telecommunications equipment manufacturer based in India that produces a wide range of switching, transmission, and subscriber premises equipment. The company also provides diverse electronic manufacturing services, including data center hosting, 3D printing, and specialized hardware for defense and banking sectors.

Business Model

The company generates revenue through the design, manufacture, and sale of telecommunication hardware, alongside providing installation, commissioning, and maintenance services. It further leverages its infrastructure to offer electronic contract manufacturing and specialized testing services to external clients.

Growth Outlook

Growth is expected to be driven by the expansion of digital infrastructure in India, including the deployment of optical transport networks and IoT solutions. The company is also focusing on diversifying its portfolio into solar power modules and advanced defense communication systems.

Key Risks

  • Technological Obsolescence. Rapid advancements in telecommunications technology may render existing product lines obsolete if the company fails to innovate at pace.
  • Government Policy Dependency. As a public sector undertaking, the company's financial performance is heavily reliant on government procurement policies and infrastructure spending cycles.
  • Intense Market Competition. The company faces significant competition from both global technology giants and agile private domestic manufacturers in the telecom equipment space.
  • Operational Efficiency. Maintaining profitability is challenging due to the high overheads associated with legacy manufacturing facilities and the need for continuous capital expenditure.

Price

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Key Metrics

REVENUE

₹2,184 Cr

TTM · consolidated

-39.6%YoY

NET PROFIT

₹232 Cr

TTM · consolidated

+207.9%YoY

EPS

₹2.98

TTM · consolidated

+233.0%YoY

RETURN ON EQUITY

13.7%

TTM · consolidated

+26.0 ppYoY

RETURN ON CAPITAL EMPLOYED

23.8%

TTM · consolidated

+24.2 ppYoY

P/E

95.9x

Q4 FY26 · consolidated

95.9 vs 73.7x5Y avg

EV/EBITDA

-690.5x

Q4 FY26 · consolidated

-690.5 vs 85.0x5Y avg

EBITDA MARGIN

-1.9%

TTM · consolidated

-2.6 ppYoY

NET PROFIT MARGIN

59.8%

Q4 FY26 · consolidated

+60.2 ppYoY

DEBT TO EQUITY

0.4x

Q4 FY26 · consolidated

-0.51xYoY

Peers · Telecom - Equipment & Accessories

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
ITI Ltd.ITI
24,83095.92-690.54-39.6%-1.9%13.7%23.8%-10.1%
Sterlite Technologies LimitedSTLTECH
8,857474.8746.73-3.9%13.2%2.7%10.4%+372.6%
Tejas Networks Ltd.TEJASNET
7,497-10.66-21.06-87.6%-58.8%-25.1%-25.9%-16.3%
Optiemus Infracom LimitedOPTIEMUS
2,92577.3544.05-6.4%7.0%9.5%11.1%-8.3%
Valiant Commun.VALIANT
1,12438.5630.72-100.0%252.0%46.7%-458.3%+9.7%
ADC IndiaADCINDIA
57158.2941.786.9%12.5%25.5%32.9%+101.6%

As of Q4 FY26

Financials