ITC Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2024

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’.



NOTES TO STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2024



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 1st August, 2024.



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 Shareholders of the Company at the Meeting held on 6th June, 2024 approved with requisite majority, the Scheme of Arrangement amongst ITC Limited and ITC Hotels Limited (ITCHL) and their respective shareholders and creditors under Sections 230 to 232 read with the other applicable provisions of the Companies Act, 2013 for demerger of the Company’s Hotels Business into ITCHL (Scheme).



The Company has filed the petition with the Hon’ble National Company Law Tribunal, Kolkata Bench, seeking its sanction to the Scheme.



Further, expenses aggregating Rs. 3.04 Crores incurred during the quarter (quarter ended 31.03.2024 - Rs. 2.05 Crores and twelve months ended 31.03.2024 - Rs. 7.57 Crores) in relation to the said demerger has been disclosed as ‘Exceptional Items’.



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