ITC Limited Report and Accounts 2023

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REPORT AND
ACCOUNTS 2023

The mnemonic is a visual representation of ITC's deep commitment to sustainable and inclusive growth addressing national priorities. The 12 colourful stems represent ITC's vibrant businesses of the future that contribute to all three sectors of the Indian economy. The icon at the centre is a metaphor for ITC's future readiness and digital transformation that is at the core of every business. The soaring birds symbolise growth that is sustainable and inclusive and reiterate ITC's commitment to its credo of Nation First, Sab Saath Badhein.

ITC: Contributing to India's Amrit Kaal Creating value for Agriculture,
Manufacturing and Services

Inspired by its credo of 'Nation First, Sab Saath Badhein', ITC has pioneered a paradigm of 'Responsible Competitiveness', that focuses on building extreme competitiveness of its businesses whilst serving national priorities of generating sustainable livelihoods and enriching the environment...

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ITC's Triple Bottom Line Contribution

  • Economic

    • ₹ 69,481cr

      Gross Revenue

    • ₹ 23,944cr

      EBITDA

    • Nearly

      75%

      of Value-added Accrues to the Exchequer

  • Social

    • Over 50 Lakh Women

      Benefitted through
      Multi-dimensional Programmes

    • 60 Lakh

      Sustainable
      Livelihoods Supported

    • e-Choupal:

      40 Lakh

      Farmers Empowered

  • Environmental

    • Watershed Development:

      Over 14.7 Lakh

      Acres Covered

    • Afforestation:

      Over 10.4 Lakh

      Sustainable
      Acres Greened

    • Biodiversity Conservation:

      Over 2.9 Lakh

      Acres Covered

  • Brand Leadership

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Recognition for ITC's Initiatives

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ITC's Businesses

  • FMCG Businesses

    • India's leading FMCG marketer
    • Businesses spanning Foods, Personal Care Products, Education & Stationery Products, Agarbattis & Matches

    Agri Business

    • Leading Agri Business player in India
    • Best-in-class profitability
    • Sourcing from 22 states; supporting over 20 value chain clusters

  • ITC Hotels

    • No. 1 in Revenue and Profitability
    • One of India's largest, greenest and most technologically advanced
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ITC's Agri Business - Pioneer in Rural Transformation ITC - One of India's Largest Agri Business Players

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ITC: Building World-Class Brands for India 

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Building Agile, Resilient and
Competitive Distribution Infrastructure Extensive Distribution Network

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ITC: Making in India,
Building Manufacturing Assets for India Recent Launches of State-of-the-Art
Manufacturing Facilities

The network of 11 state-of-the-art Integrated Consumer Goods Manufacturing & Logistics (ICML) Facilities, the recently established Ancillary Manufacturing and Logistics Facilities (AMLF) and other units provide structural competitiveness to ITC's businesses.

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ITC: Enriching Tourism Landscape of India Glimpses of New Launches

ITC Hotels with its credo of 'Responsible Luxury' stands for iconic hotel properties, signature cuisines, service excellence and as a sustainability exemplar.

ITC's Hotels Business is one of the fastest growing hospitality chains in the country. The Business has over 120 properties under 6 distinctive brands - 'ITC Hotels' in the Luxury segment, 'Mementos' in the Luxury Lifestyle segment, 'Welcomhotel' and 'Storii' in the Premium segment, 'Fortune' in the Mid-market to Upscale segment and 'WelcomHeritage' in the Leisure & Heritage segment. ITC's Hotels business meaningfully contributes to the tourism potential of the country, while supporting livelihoods.

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ITC: Driving Purposeful and Agile InnovationCutting-edge R&D at LSTC

ITC’s Life Sciences & Technology Centre is at the centre of driving innovation to strengthen ITC’s competitiveness.

Strategic investments in key science-based platforms in emerging areas important for the future as well as Centres of Excellence across domains have enabled ITC to launch winning products anchored on the vectors of Health & Nutrition, Hygiene, Protection & Care, Convenience & On-the-Go, Indulgence etc.

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ITC's Digital Transformation Accelerated Digital Adoption Across Every Node of Operation

  • Smart
    Insights

  • Smart
    Sourcing

  • Smart Manufacturing

  • Smart Distribution

  • Smart Consumers

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Towards the Next Horizon of Sustainability Combating Climate
Change, Creating Sustainable Livelihoods

ITC's sustainability journey over a quarter of a century has been inspired by its vision to make sustainable and inclusive growth the bedrock of its corporate strategy. ITC's efforts have focussed on designing and implementing large-scale programmes to address the challenges of climate change, replenish the environment and create sustainable livelihoods to empower rural communities.

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Financial Highlights

  • Financials for FY21 & FY22 were impacted by unprecedented disruptions in certain operating segments of the Company due to the COVID-19 pandemic.
  • EPS and DPS have been adjusted for impact of corporate action to facilitate like-to-like comparison.
  • FY16 to FY23 as per Ind AS; previous GAAP for earlier years.

Business Responsibility and Sustainability Report

Consolidated Business Responsibility and Sustainability Report

ITC Infotech

Strengthening the Foundations towards the next Orbit of Growth and Differentiation FY 2022-23 was the year in which ITC Infotech further strengthened its organisational foundations towards the next orbit of its growth and differentiation. Through industry-defining and capability-led strategic partnerships with its key clients, ITC Infotech expanded its global footprint, amplifying its vision of providing business-friendly solutions to its clients.

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CII-ITC Centre of Excellence for
Sustainable Development

The 'CII–ITC Centre of Excellence for Sustainable Development’, established by ITC in 2006 in collaboration with the Confederation of Indian Industry (CII), continues to focus on promoting sustainable business practices amongst Indian enterprises. An Advisory Council, which includes members from the industry, civil society and institutions, provides strategic direction to the Centre.

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Major Awards & Certifications 2022-2023

  • Sustained 'AA' rating by MSCI-ESG for the fifth consecutive year; ITC retained its CDP score of 'A-' (Leadership Level) for climate change and water security for the second consecutive year
  • 12 ITC Hotels became the first in the world to receive the LEED Zero Carbon Certification; 2 ITC Hotels also became the first in the world to achieve the LEED Zero Water Certification
  • Mr Sanjiv Puri, Chairman & Managing Director, was conferred 'The IMPACT Person of the Year, 2020' Award by exchange4media, a leading online news platform.
  • Mr Sanjiv Puri, Chairman & Managing Director, was conferred an Honorary Doctorate by the XIM University, Bhubaneswar.
  • Mr Nakul Anand, Executive Director, was conferred the HICSA (Hotel Investment Conference - South Asia) Lifetime Achievement Award.
  • ITC received 'Leadership Level' scores for both 'Climate Change' and 'Water Security' for the year 2021 by CDP. Sustained 'AA' rating by MSCI-ESG for the 4th successive year.
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ITC: Transforming Lives and Landscapes

  • Farmer Empowerment

    • Increasing productivity & farmer income, promoting climate smart agriculture, creat ing market linkages

    Water Stewardship

    • Over 14 lakh acres covered
    • Over 28,300 water harvesting structures built

  • Afforestation

    • Over 10 lakh acres greened
    • About 190 million person-days of employment supported
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