ITC Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2023

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’.


The figures for the preceding 3 months ended 31.03.2023 are the balancing figures between the audited figures in respect of the full financial year ended 31.03.2023 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 30.06.2023

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 its meeting held on 14th August, 2023.

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 1,14,49,770 Ordinary Shares of Rs. 1/- each were issued and allotted under the Companys Employee Stock Option Schemes during the quarter ended 30th June, 2023. Consequently, the issued and paid-up Share Capital of the Company stands increased to Rs. 1243,94,67,511/- as on 30th June, 2023.

4 The Company, on 19th June, 2023, entered into definitive agreements to acquire further Shares of Mother Sparsh Baby Care Private Limited (Mother Sparsh). On 27th June, 2023, the Company, acquired 857 Compulsorily Convertible Preference Shares of Rs. 10/- each, consequent to which the Companys shareholding in Mother Sparsh aggregated 26.50% of its share capital on a fully diluted basis.

5 The 112th Annual General Meeting of the Company was held on Friday, 11th August, 2023.

6 The Company incorporated a new wholly owned subsidiary in the name of lTC Hotels Limited on 28th July, 2023.

7 The Board at its meeting held today i.e. 14th August, 2023 has, subject to necessary approvals, considered and approved demerger of Hotels Business under a scheme of arrangement amongst ITC Limited and ITC Hotels Limited and their respective shareholders and creditors under Sections 230-232 and other applicable provisions of the Companies Act, 2013.

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

Limited Review

The Limited Review, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has been completed and the related Report does not have any impact on the above Results and Notes for the Quarter ended 30th June, 2023 which needs to be explained.