ITC
ITC Limited
Is ITC Halal?
Tobacco company — primary business is haram.
What You Should Know
ITC's FY2025-26 consolidated report shows ₹93,792.38 crore of assets, ₹2,399.06 crore of borrowings and leases, ₹3,008.79 crore of cash and bank balances, ₹32,840.19 crore of investments and ₹89,913.33 crore of revenue. Cigarettes/cigars plus unmanufactured tobacco were ₹43,979.01 crore, approximately 49.24% of gross product and service revenue; tobacco remains the primary qualitative failure.
⚠️ Concerns
- •Cigarettes/cigars revenue is ₹40,601.00 crore
- •Unmanufactured tobacco revenue is ₹3,378.01 crore
- •Liquidity/assets is 38.22% under the examined asset screen
- •Disclosed interest income is 1.63% of revenue
Current quantitative Sharia screen
Based on annual-report figures for the period ended 2026-03-31; calculated 2026-07-15.
2,399.06 / 93,792.38
35,848.98 / 93,792.38
6,931.65 / 93,792.38
1,462.23 / 89,913.33
- Financial
- Fails
- Overall
- Fails
Debt/assets is 2.56%, liquidity/assets is 38.22% above the examined limit, receivables-plus-cash/assets is 7.39% and interest income is 1.63%; the tobacco activity also fails independently.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 38.22%, above the examined MSCI total-assets limit, and the tobacco-centered activity fails independently.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 38.22%, above the examined Malaysia 33% limit; tobacco activity also fails independently.
- Financial
- Not calculated
- Overall
- Fails
A licensed market-cap series is not stored; the disclosed tobacco activity and liquidity failure already determine the result.
Business-activity disclosure
ITC's consolidated report identifies cigarettes/cigars and unmanufactured tobacco as major revenue segments. Tobacco is treated as impermissible under the existing qualitative verdict and the disclosed segment revenue independently fails the activity screen.
Limitation: The tobacco numerator is disclosed by segment, but other product, associate and subsidiary activities are not individually classified by every scholar or methodology.
Purification
Purification is not calculated because the tobacco-centered core business fails the activity screen; interest income is evidence for screening, not a donation prescription.
Inputs, assumptions and primary sources
- Amounts are INR crore from ITC's consolidated Report and Accounts 2026.
- Debt includes borrowings and lease liabilities; cash includes cash equivalents plus other bank balances; investments combine non-current and current investments.
- Trade receivables are the consolidated receivable numerator.
- Cigarettes/cigars revenue of INR 40,601.00 crore plus unmanufactured tobacco revenue of INR 3,378.01 crore is used as a disclosed tobacco-revenue numerator; consolidated revenue from operations is INR 89,913.33 crore.
- Consolidated interest income is INR 1,462.23 crore.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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