ITC Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2021

1. ‘Revenue from operations’ includes ‘Gross Revenue from sale of products and services’ and ‘Other operating revenue’.



2. ‘Changes in inventories of finished goods, work-in-progress and stock-in-trade’ should be read as ‘Changes in inventories of finished goods, stock-in-trade, work-in-progress and intermediates’.



3. ‘Depreciation, depletion and amortisation expense’ should be read as ‘Depreciation and amortization expense’.



3. The figures for the preceding 3 months ended 31.03.2021 are the balancing figures between the audited figures in respect of the full financial year ended 31.03.2021 and the year to date figures upto the third quarter of that financial year.



NOTES TO STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021



1. The Unaudited Standalone Financial Results and Segment Results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at the meeting held on 24th July, 2021.



2. The continuing significant brand building costs covering a range of personal care and branded packaged food products are reflected under ‘Other expenses’ stated above and in Segment Results under ‘FMCG-Others’.



3. The amalgamation of Hobbits International Foods Private Limited and Sunrise Sheetgrah Private Limited, wholly owned subsidiaries, with the Company was approved by the Board of Directors on 4th September, 2020. Hearing on the petition seeking sanction for amalgamation from the Hon’ble National Company Law Tribunal, Allahabad Bench, has been completed and the order is awaited. The said amalgamation will take effect from 27th July, 2020, being the appointed date and pending such order, the impact of amalgamation has not been given effect in these results.



4. The Company has considered the possible effects that may arise out of the still unfolding COVID-19 pandemic on the carrying amounts of property, plant & equipment, intangible assets, investments, inventories, trade receivables, etc. For this purpose, the Company has considered internal and external sources of information up to the date of approval of the Standalone Financial Results including credit reports and related information, economic forecasts, market value of certain investments etc. Based on the current estimates, the Company does not expect any significant impact on such carrying values. The impact of COVID-19 on the Company’s financial statements may differ from that estimated as at the date of approval of Standalone Financial Results.



5. This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.