(Rs. in Crores)
Particulars			3 Months ended 30.06.2020	Corresponding 3 Months ended 30.06.2019	Preceding 3 Months ended 31.03.2020#	Twelve Months ended 31.03.2020
			(Unaudited)	(Unaudited)	(Audited)	(Audited)
Gross Revenue from sale of products and services		(i)	10426.43	12532.31	12456.45	50968.50
Other operating revenue		(ii)	52.03	125.59	104.19	424.97
REVENUE FROM OPERATIONS[(i)+(ii)]		1	10478.46	12657.90	12560.64	51393.47
OTHER INCOME		2	925.13	647.29	667.76	2597.89
TOTAL INCOME (1+2)		3	11403.59	13305.19	13228.40	53991.36
EXPENSES
a)	Cost of materials consumed		3086.56	3125.01	3396.36	13810.70
b)	Purchases of stock-in-trade		1646.11	1796.40	991.88	4237.90
c)	Changes in inventories of finished goods, stock-in-trade, work-in-progress and intermediates		(737.21)	(736.73)	(352.47)	(703.13)
d)	Excise duty		704.39	378.59	778.48	1989.42
e)	Employee benefits expense		1104.75	1078.87	1095.76	4295.79
f)	Finance costs		15.82	14.58	14.68	54.68
g)	Depreciation and amortization expense		418.99	378.94	413.23	1644.91
h)	Other expenses		1728.30	2078.01	2147.01	8502.63
TOTAL EXPENSES		4	7967.71	8113.67	8484.93	33832.90
PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3-4)		5	3435.88	5191.52	4743.47	20158.46
EXCEPTIONAL ITEMS		6	-	-	-	(132.11)
PROFIT BEFORE TAX (5+6)		7	3435.88	5191.52	4743.47	20026.35
TAX EXPENSE		8	868.81	1755.01	817.01	4441.79
a)	Current Tax		854.33	1680.40	952.89	4846.15
b)	Deferred Tax		14.48	74.61	(135.88)	(404.36)
PROFIT FOR THE PERIOD (7-8)		9	2567.07	3436.51	3926.46	15584.56
SHARE OF PROFIT / (LOSS) OF ASSOCIATES AND JOINT VENTURES		10	(4.34)	4.46	0.26	8.22
PROFIT AFTER TAX, SHARE OF PROFIT OF ASSOCIATES AND JOINT VENTURES (9+10)		11	2562.73	3440.97	3926.72	15592.78
OTHER COMPREHENSIVE INCOME		12	13.43	(242.95)	(806.81)	(1,469.97)
A (i)	Items that will not be reclassified to profit or loss		(16.79)	(236.29)	(817.70)	(1,490.98)
(ii)	Income tax relating to items that will not be reclassified to profit or loss		0.97	2.23	4.90	10.14
B (i)	Items that will be reclassified to profit or loss		32.99	(7.10)	(1.75)	0.74
(ii)	Income tax relating to items that will be reclassified to profit or loss		(3.74)	(1.79)	7.74	10.13
TOTAL COMPREHENSIVE INCOME (11+12)		13	2576.16	3198.02	3119.91	14122.81
PROFIT FOR THE PERIOD ATTRIBUTABLE TO :
OWNERS OF THE PARENT			2511.00	3355.01	3856.52	15306.23
NON-CONTROLLING INTERESTS			51.73	85.96	70.20	286.55
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO :
OWNERS OF THE PARENT			2524.43	3112.06	3049.06	13835.90
NON-CONTROLLING INTERESTS			51.73	85.96	70.85	286.91
PAID UP EQUITY SHARE CAPITAL		14	1229.22	1225.86	1229.22	1229.22
(Ordinary Shares of Re. 1/- each)
RESERVES EXCLUDING REVALUATION RESERVES		15				64044.04
EARNINGS PER SHARE (of Re. 1/- each) (not annualised):		16
(a)	Basic (Rs.)		2.04	2.74	3.14	12.47
(b)	Diluted (Rs.)		2.04	2.72	3.13	12.45
# The figures for the preceding 3 months ended 31.03.2020 are the balancing figures between the audited figures in respect of the full financial year ended 31.03.2020 and the year to date figures upto the third quarter of that financial year.

1	The unaudited Consolidated 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, 2020.
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 Company on 9th July, 2020, incorporated a wholly owned subsidiary in the name of 'ITC IndiVision Limited'; the initial subscribed share capital of the said company would be Re. 1 crore.
4	As reported earlier, the Company had entered into a Share Purchase Agreement (SPA) on 23rd May, 2020, to acquire 100% of the equity share capital of Messrs. Sunrise Foods Private Limited, an Indian company primarily engaged in the business of spices under the trademark 'Sunrise', subject to fulfilment of various terms and conditions as specified in the SPA. The Company and the sellers are working towards consummation of the transaction.
5	The Group 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 Group has considered internal and external sources of information up to the date of approval of the Consolidated Financial Results, including credit reports and related information, economic forecasts, market value of certain investments etc. Based on the current estimates, the Group does not expect any significant impact on such carrying values. The impact of COVID-19 on the Group's financial statements may differ from that estimated as at the date of approval of the Consolidated Financial Results.
6	This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ITC LIMITED
Unaudited Segment-wise Revenue, Results, Assets and Liabilities
for the Quarter ended 30th June, 2020

(Rs. in Crores)
				CONSOLIDATED
Particulars				3 Months ended 30.06.2020	Corresponding 3 Months ended 30.06.2019	Preceding 3 Months ended 31.03.2020#	Twelve Months ended 31.03.2020
				(Unaudited)	(Unaudited)	(Audited)	(Audited)
1.	Segment Revenue
	a)	FMCG	- Cigarettes	4330.05	6141.92	5750.44	23679.13
			- Others	3378.84	3068.07	3190.34	12875.08
		Total FMCG		7708.89	9209.99	8940.78	36554.21
	b)	Hotels		24.92	411.60	494.76	1926.44
	c)	Agri Business		3764.56	3622.40	1899.01	10453.87
	d)	Paperboards, Paper & Packaging		1026.44	1527.53	1458.87	6107.18
	e)	Others		556.68	523.22	575.68	2202.77
		Total		13081.49	15294.74	13369.10	57244.47
	Less : Inter-segment revenue			2655.06	2762.43	912.65	6275.97
Gross Revenue from sale of products and services				10426.43	12532.31	12456.45	50968.50
2.	Segment Results
	a)	FMCG	- Cigarettes	2535.24	4145.75	3649.88	15838.46
			- Others	129.06	79.89	144.37	424.94
		Total FMCG		2664.30	4225.64	3794.25	16263.40
	b)	Hotels		(257.39)	9.82	38.27	154.00
	c)	Agri Business		178.66	201.78	127.05	829.74
	d)	Paperboards, Paper & Packaging		160.11	329.76	285.71	1305.33
	e)	Others		115.46	68.82	79.97	290.95
		Total		2861.14	4835.82	4325.25	18843.42
	Less :	i)	Finance Costs	15.82	14.58	14.68	54.68
		ii)	Other un-allocable (income) net of un-allocable expenditure [Note(i)]	(590.56)	(370.28)	(432.90)	(1369.72)
		iii)	Exceptional items	-	-	-	132.11
Profit Before Tax				3435.88	5191.52	4743.47	20026.35
3.	Segment Assets
	a)	FMCG	- Cigarettes	7219.47	8913.86	7483.78	7483.78
			- Others	10325.06	9651.52	8809.78	8809.78
		Total FMCG		17544.53	18565.38	16293.56	16293.56
	b)	Hotels		7531.43	7649.38	7563.12	7563.12
	c)	Agri Business		4611.25	4923.75	4333.55	4333.55
	d)	Paperboards, Paper & Packaging		7057.20	6953.94	6816.90	6816.90
	e)	Others		1602.39	1004.27	1601.91	1601.91
		Total		38346.80	39096.72	36609.04	36609.04
		Unallocated Corporate Assets		43397.47	37827.10	40758.00	40758.00
Total Assets				81744.27	76923.82	77367.04	77367.04
4.	Segment Liabilities
	a)	FMCG	- Cigarettes	4929.25	5175.13	4148.85	4148.85
			- Others	2546.21	2076.42	2122.96	2122.96
		Total FMCG		7475.46	7251.55	6271.81	6271.81
	b)	Hotels		781.01	846.63	830.17	830.17
	c)	Agri Business		1078.50	929.40	972.06	972.06
	d)	Paperboards, Paper & Packaging		930.03	794.94	764.12	764.12
	e)	Others		389.79	310.02	375.72	375.72
		Total		10654.79	10132.54	9213.88	9213.88
		Unallocated Corporate Liabilities		2825.16	4058.24	2502.43	2502.43
Total Liabilities				13479.95	14190.78	11716.31	11716.31
# The figures for the preceding 3 months ended 31.03.2020 are the balancing figures between the audited figures in respect of the full financial year ended 31.03.2020 and the year to date figures upto the third quarter of that financial year.

Note (i): As stock options and stock appreciation linked reward units are granted under the ITC Employee Stock Option Schemes (ITC ESOS) and ITC Employee Cash Settled Stock Appreciation Linked Reward Plan (ITC ESARP), respectively, to align the interests of employees with those of shareholders and also to attract and retain talent for the enterprise as a whole, the charge thereof do not form part of the segment performance reviewed by the Corporate Management Committee.

 

Notes :

(1)	The Company's corporate strategy aims at creating multiple drivers of growth anchored on its core competencies. The Company is currently focused on four business groups : FMCG, Hotels, Paperboards, Paper & Packaging and Agri Business. The Company's organisational structure and governance processes are designed to support effective management of multiple businesses while retaining focus on each one of them. The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Corporate Management Committee, which is the Chief Operating Decision Maker.
(2)	The business groups comprise the following :
	FMCG	:	Cigarettes			-	Cigarettes, Cigars etc.
		:	Others			-	Branded Packaged Foods Businesses (Staples & Meals; Snacks; Dairy & Beverages; Biscuits & Cakes; Chocolates, Coffee & Confectionery); Education and Stationery Products; Personal Care Products; Safety Matches and Agarbattis; Apparel.
	Hotels					-	Hoteliering.
	Paperboards, Paper & Packaging					-	Paperboards, Paper including Specialty Paper & Packaging including Flexibles.
	Agri Business					-	Agri commodities such as soya, spices, coffee and leaf tobacco.
	Others					-	Information Technology services, Branded Residences etc.
(3)	Segment results of 'FMCG : Others' are after considering significant business development, brand building and gestation costs of Branded Packaged Foods businesses and Personal Care Products business.
(4)	Figures for the corresponding previous periods are re-arranged, wherever necessary, to conform to the figures of the current period.

 

Registered Office : Virginia House, 37 J.L. Nehru Road, Kolkata 700 071, India Dated : 24 July, 2020 Place : Kolkata, India	For and on behalf of the Board Director & Chief Financial Officer Chairman & Managing Director
Website: www.itcportal.com | E-mail: enduringvalue@itc.in | Phone: +91-33-2288 9371 | Fax: +91-33-2288 0655 | CIN : L16005WB1910PLC001985

 

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