ITC Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

1.'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'.

2. 'Depreciation, depletion and amortisation expense’ should be read as 'Depreciation and amortization expense'.

3. Under the Sheet on 'Other Comprehensive Income', 'Income tax relating to items that will not be reclassified to profit or loss’ has been adjusted with ‘Items that will not be reclassified to profit or loss’. Similarly, ‘Income tax relating to items that will be reclassified to profit or loss’ has been adjusted with ‘Items that will be reclassified to profit or loss’.

4. The figures for the 3 months ended 31.03.2018 and corresponding 3 months ended 31.03.2017 are the balancing figures between the audited figures in respect of the full financial year and the year to date figures upto the third quarter of the respective financial years.

Other non-current assets includes Income Tax Assets (Net) of Rs. 18.66 crores.

4. The audited Financial Results and Segment Results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 16th May, 2018.

5. Consequent to the introduction of Goods and Services Tax (GST) with effect from 1st Juty, 2017, Central Excise (other than National Calamity Contingent Duty (NCCD) on cigarettes), Value Added Tax (VAT) etc. have been replaced by GST. In accordance with Indian Accounting Standard - 18 on Revenue and Schedule III of the Companies Act, 2013, GST, GST Compensation Cess, VAT, etc. are excluded and NCCD is not excluded from Gross Revenue from sale of products and services for applicable periods. In view of the aforesaid restructuring of indirect taxes, Gross Revenue from sale of products and services and Excise duty for the quarter and twelve months ended 31st March, 2018 are not comparable with the previous periods. The following additional information is being provided to facilitate such comparison:
For Table, kindly refer Corporate Announcements on www.bseindia.com.

*Taxes include GST, GST Compensation Cess, Service Tax, VAT, Luxury Tax etc., as applicable for the reported periods.

6. During the quarter ended 31st March, 2018, 1,38,38,040 Ordinary Shares of Rs. 1/- each were issued and allotted under the Company's Employee Stock Option Schemes. Consequently, the issued and paid-up Share Capital of the Company as on 31st March, 2018 stands Increased to Rs. 1220,42,94.911/-.

7. Exceptional Items represent provisions for earlier years of Rs. 412.90 Crores (Rs. 270.00 Crores post tax), in respect of Tamil Nadu enlry tax that have been written back, based on a favourable order of the Hon'ble Supreme Court.

8. The launch and rollout costs of the Company's brands 'Fiama', 'Vivel', 'Superia', 'Engage', 'Savlon' and 'Shower to Shower' covering the range of personal care products of soaps, face washes, shower gels, skin care, deodorants, handwash and ayurvedic talc, and the continuing significant brand building costs of the Foods businesses are reflected under Other expenses stated above and in Segment Results under 'FMCG-Others'.

9. The Board of Directors of the Company has recommended a dividend of Rs. 5.15 per Ordinary Share of Rs. 1/- each for the financial year ended 31st March, 2018 and the dividend, if declared, will be paid on 31st July, 2018 to those members entitled thereto.

10. The Register of Members of the Company shall remain closed for the purpose of dividend from 29th May, 2018 to 31st May, 2018, both days inclusive.

11. The 107th Annual General Meeting of the Company has been convened for 27th July, 2018.

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