A Enduring Value

ITC Limited Virginia House 37 J. L. Nehru.Road Kolkata 700 071. India Tel.: 91332288 9371 Fax : 91 33 2288 2258 / 2259 I 2260

22[nd ] May, 2025

The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza Plot No. C-1, G Block Bandra-Kurla Complex Sandra (East) Mumbai 400 051

The General Manager Dept. of Corporate Services BSE Ltd. P. J. Towers Dalal Street Mumbai 400 001

The Secretary The Calcutta Stock Exchange Ltd. 7, Lyons Range Kolkata 700 001

Dear Sirs,

Audited Annual Financial Results, Dividend and other matters

Further to our letter dated 8[th ] May, 2025, we write to advise that the Board of Directors of the Company at the meeting held today i.e., 22[nd ] May, 2025, has approved / recommended the following:

1. Financial Results:

(i) Approved the Audited Financial Results of the Company, both Standalone and Consolidated, for the Quarter and Twelve Months ended 31[st ] March, 2025;
(ii) Approved the Audited Segment-wise Revenue, Results, Assets and Liabilities of the Company, both Standalone and Consolidated, for the Quarter and Twelve Months ended 31[st ] March, 2025;
(iii) Approved the Audited Balance Sheet, both Standalone and Consolidated, as at 31[st ] March, 2025;
(iv) Approved the Audited Statement of Cash Flows, both Standalone and Consolidated, for the Twelve Months ended 31[st ] March, 2025; and
(v) ·Taken note of the Reports from the Statutory Auditors of the Company, Messrs. S R B C & CO LLP, Chartered Accountants, on the aforesaid Standalone and Consolidated Financial Results. The Auditors have issued the said Reports with unmodified_ opinion.

The aforesaid documents are enclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations).

FMCG • PAPERBOARDS & PACKAGING• AGRI-BUSINESS • INFORMATION TECHNOLOGY Visit us at www.itcportal.com • Corporate Identity Number: Ll6005WBl910PLC00l985 •e-mail: [email protected]

� Enduring Value

2. Final Dividend and Date of Annual General Meeting:

(a) recommended Final Dividend off 7.85 per Ordinary Share off 1/- each for the financial year ended 31[st ] March, 2025, subject to declaration of the same by the Members at the ensuing 114[th ] Annual General Meeting ('AGM') of the Company which has been convened for Friday, 25[th ] July, 2025; the Final Dividend, if declared, will be paid between Monday, 28[th ] July, 2025 and Thursday, 31[st ] July, 2025 to those Members entitled thereto.

Together with the Interim Dividend of� 6.50 per Ordinary Share declared by the Board on 6[t][h ] February, 2025, the total Dividend for the financial year ended 31[st ] March, 2025 would be� 14.35 per Ordinary Share of� 1/- each.

(b) fixed Wednesday, 28[th ] May, 2025 as the Record Date for the purpose of determining entitlement of the Members for payment of Final Dividend referred to in (a) above.

3. Other Maters:

(a) recommended for the approval of the Members, re-appointment of Mr. Shyamal Mukherjee (DIN: 03024803) as a Director and also as an Independent Director of the Company for a period of five years with effect from 11[th ] August, 2026;
(b) approved, subject to the approval of the Members, the appointment of Messrs. S. N. Ananthasubramanian & Co., Company Secretaries (Firm Registration No. P1991 MH040400), as the Secretarial Auditors of the Company to conduct secretarial audit for a period of five financial years commencing from the financial year 2025-26.

Brief details of such appointment, as required under Regulation 30 of the Listing Regulations read with the SEBI Master Circular dated 11[th ] November, 2024, are given in the Annexure.

The Board Meeting commenced at 1.15 p.m. and concluded at .............. p.m. 4· '2..0

Yours faithfully, ITC Limited (R. K. inghi) Executive Vice President & Company Secretary

Encl: as above.

==> picture [43 x 52] intentionally omitted <==

cc: Securities Exchange Commission Division of Corporate Finance Office of International Corporate Finance Mail Stop 3-9 450 Fifth Street Washington DC 20549 U.S.A. cc: Societe de la Bourse de Luxembourg 35A Boulevard Joseph II L-1840 Luxembourg

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ITC Limited

Statement of Standalone Financial Results for the Quarter and Twelve Months ended 31st March, 2025

			(f in Croresl	(f in Croresl	(f in Croresl	(f in Croresl	(f in Croresl
Particulars			3 Months ended 31.03.2025"		Corresponding 3 Months ended 31.03.2024"	Preceding Twelve 3 Months Months ended ended 31.12.2024 31.03.2025	Twelve Months ended 31.03.2024
CONTINUING OPERATIONS Gross Revenue from sale of products and services Other operating revenue REVENUE FROM OPERATIONS [(i)+{ii)] OTHER INCOME TOTAL INCOME {1+2) EXPENSES a) Cost of materials consumed b) Purchases of Stock-in-Trade c) Changes in inventories of finished goods, Stock-in-Trade, work-in-progress and intermediates d) Excise duty e) Employee benefits expense f) Finance costs g) Depreciation and amortization expense h) Other expenses TOTAL EXPENSES PROFIT BEFORE EXCEPTONAL ITEMS AND TAX (3-4) EXCEPTIONAL ITEMS (Refer Note 4) PROFIT BEFORE TAX (5+6) TAX EXPENSE a) Current Tax (Refer Note 5) b) Deferred Tax PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS(7-8)	(i) (ii) 1 2 3		(Audited 18266.17 227.89	)	(Audited)	(Unaudited) I Audited)	(Audited)
					16731.54 175.64	18055.46 73464.55 66657.04 234.78 771.52 635.56
			18494.06 795.45 19289.51		16907.18 796.58 17703.76	18290.24 74236.07 1086.62 3454.31 19376.86 77690.38	67292.60 3529.76 70822.36
						5938.51 23440.12 2390.52 8936.22 (558.93) (640.50) 1237.42 4912.55 867.83 3416.73 7.57 36.35 361.82 1441.93 2586.51 10146.12 12831.25 51689.52 6545.61 26000.86 527.96 527.96 7073.57 26528.82 1652.21 6436.97 1501.75 5990.17 150.46 446.80 5421.36 20091.85 301.50 572.52 (12.18) 15163.06 72.43 631.82 216.89 15103.76 5638.25 35195.61	21055.85 6039.81 (370.09) 4664.48 3200.93 34.39 1357.20 9207.67 45190.24 25632.12 - 25632.12 5721.89 5516.91 204.98 19910.23 691.22 (7.57) 171.91 511.74 20421.97
	4 5 6 7 8 9		6118.75 1817.60 (124.29) 1245.85 869.43 8.51 356.48 2580.33 12872.66 6416.85 - 6416.85 1542.14 1378.09 164.05 4874.71 15179.43 492.57 14686.86 19561.57		5321.82 1328.25 (69.82) 1173.58 823.30 9.29 341.24 2488.53 11416.19 6287.57 6287.57 1450.11 1392.35 57.76 4837.46 246.18 (2.05) 61.39 182.74 5020.20
PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX FROM DISCONTINUED OPERATIONS EXCEPTIONAL ITEMS OF DISCONTINUED OPERATIONS TAX EXPENSE OF DISCONTINUED OPERATIONS PROFIT FOR THE PERIOD FROM DISCONTNUED OPERATIONS {10+11-12) {Refer Note 6) PROFIT FORTHEPERIOD {9+13) OTHER COMPREHENSIVE INCOME A (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclass�ied to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss TOTAL COMPREHENSIVE INCOME(14+15)	1 1 1 1 1 1 1	0 1 2 3 4
		5 6	(608.28) (704.29) 101.56 2.89 (8.44) 18953.29		1525.00 1699.9 (190.30) 20.50 (5.16) 655.20	276.34 (929.38) 2281.0 343.94 (1026.75) 2481.63 (49.17) 85.34 (228.72) (24.36) 23.30 37.62 5.93 (11.27) (9.47) 5914.59 34266.23 22703.03
PAID UP EQUIT SHARE CAPITAL (Ordinary Shares off 1/ each) RESERVES EXCLUDING REVALUATION RESERVES EARNINGS PER SHARE (oft 1/- each) (not annualised): For Continuing Operations (a) Basic(<) (b) Diluted (<) For Discontinued Operations (a) Basic(<) (b) Diluted (f) For Continuing and Discontinued Operations (a) Basic(<) (b)Diluted(<) -	1 1 1	7 8 9	1251.41 3.89 3.89 11.75 11.73 15.64 15.62		1248.47 3.87 3.87 0.15 0.15 4.02 4.02	1251.17 1251.41 1248.47 6664.73 7098.83 4.34 16.07 15.98 4.33 16.05 15.94 0.17 12.08 0.41 0.17 12.06 0.41 4.51 28.15 16.39 4.50 28.11 16.35

• The figures of 3 months ended 31.03.2025 and corresponding 3 months ended 31.03.2024 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, which were subjected to limited review.

Notes:

The audited 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 22nd May, 2025.
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'.
24,09,390 Ordinary Shares of, 1/- each were issued and allotted under the Company's Employee Stock Option Schemes during the quarter ended 31st March, 2025. Consequently, the issued and paid-up Share Capital of the Company stands increased to, 1251,41, 19,781/- as on 31st March, 2025.
The Company on 18th December, 2024 acquired 1,52,32,129 Equity Shares of, 21- each of EIH Limited and 34,60,829 Equity Shares of, 2/- each of HLV Limited, from Russell Credit Limited, a wholly owned subsidiary of the Company, at their respective book value. The fair value gain of, 527.96 Crores upon acquisition has been disclosed as an 'Exceptional Item' for the quarter ended 31st December, 2024 and year ended 31st March, 2025.
The Company had, in the previous year, reassessed its provisions relating to uncertain tax positions for earlier years based on a favourable Order of the Hon'ble Supreme Court received during the year ended 31st March, 2024. This had resulted in a credit of , 468.44 Crores in the Current Tax expense for the year ended 31st March, 2024.
The Scheme of Arrangement amongst the Company 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 ('the Scheme') for demerger of the Hotels Business of the Company into ITCHL became effective from 1st January, 2025, being the Appointed Date and the Effective Date of the Scheme.

With effect from the Appointed Date, the carrying / book value of the net assets of the Demerged Undertaking (as defined in the Scheme) amounting to, 10694.76 Crores was transferred to ITCHL on a going concern basis.

Pursuant to the Scheme, ITCHL allotted 125, 11, 71,040 Equity Shares of , 1/- each on 11th January, 2025 to the shareholders of the Company (as on the Record Date i.e., 6th January, 2025) and therefore it has ceased to be a subsidiary of the Company. The Company's shareholding in ITCHL stands at 39.88% of its paid-up share capital and consequently, ITCHL has become an Associate of the Company.

As provided in the Scheme, the Company has accounted for the aforesaid demerger in its books of accounts in accordance with the Indian Accounting Standards (Ind AS) and generally accepted accounting principles in India. The fair value of the net assets of the Demerged Undertaking distributed to the shareholders of the Company, amounting to , 22033.37 Crores has been debited to General Reserve.

The carrying / book value of the net assets of the Demerged Undertaking to the extent of the Company's continued holding in ITCHL amounting to , 4215.32 Crores has been added to the value of investment in ITCHL.

The excess of fair value of the net assets distributed to the shareholders of the Company and addition to the value of investment in ITCHL over the carrying value of net assets of the Demerged Undertaking and consequential adjustments of , 63.44 Crores pursuant to the Scheme, has been recognised as an exceptional gain in the Statement of Profit and Loss amounting to, 15163.06 Crores [net of demerger related expenses of, 454.31 Crores (2024 - , 7.57 Crores)].

In terms of the requirements of Ind AS, the operations of the Hotels Business of the Company (excluding ITC Grand Central, Mumbai) have been classified as 'Discontinued Operations' for the year ended 31st March, 2025 and comparative information in the Statement of Profit and Loss has been presented accordingly.

Brief particulars of the Discontinued Operations are given as under:

	(f in Crores)	(f in Crores)	(f in Crores)
Sr. Pariculars No. a. Revenue from Operations b. Total Income c. Total Expenses d. Profit Before Exceptional Items and Tax (b-c) e. Exceptional Items f. Tax Expenses* A. Profit from Discontinued Ooerations (d+e-f)		3 Months ended 31.03.2025	Corresponding Preceding Twelve Twelve 3 Months 3 Months Months Months ended ended ended ended 31.03.2024 31.12.2024 31.03.2025 31.03.2024 (Audited) /Unaudited (Audited (Audited) 863.31 931.29 2277.73 2887.97 865.32 942.85 2296.94 2896.58 619.14 641.35 1724.42 2205.36 246.18 301.50 572.52 691.22 (2.05) (12.18) 15163.06 (7.57) 61.39 72.43 631.82 171.91 182.74 216.89 15103.76 511.74
		(Audited) - - - - 15179.43 492.57 14686.86

*Tax expenses for the quarter and year ended 31st March, 2025 includes , 602.79 Crores (2024 - Nil) relating to deferred tax liability recognised on addition to the value of investment in ITCHL.

The Company has entered into the following agreements:

(a) On 6th February, 2025, for acquiring 100% of the share capital of Ample Foods Private Limited ('AFPL' - along with its wholly owned subsidiary, Chao Chao Foods Private Limited) and Meat and Spice Private Limited. In accordance with the same, the Company acquired 2,62,500 Equity Shares of, 10/- each of AFPL on 4th April, 2025, consequent to which the Company's shareholding in that company aggregates 43.75% of its share capital on a fully diluted basis.

{b} On 31st March, 2025, for acquiring the pulp and paper business undertaking of Aditya Birla Real Estate Limited, operating under the name of 'Century Pulp and Paper' along with the assets, liabilities, contracts; employees etc., as a going concern on a slump sale basis, subject to receipt of necessary approvals.

(d} On 17th April, 2025, for acquiring the remaining stake of 73.50% of the share capital (on a fully diluted basis) of Mother Sparsh Baby Care Private Limited, an associate company.

The Company on 13th May, 2025 divested its entire shareholding of 7,759 Compulsorily Convertible Preference Shares of I!' 10/- each and 2,386 Equity Shares of , 10/- each held in Delectable Technologies Private Limited ('DTPL'), consequent to which DTPL ceased to be an associate company with effect from the said date.
The Board of Directors of the Company have recommended to the Members for their approval, Final Dividend of I!' 7.85 per Ordinary Share of I!' 1/- each for the financial year ended 31st March, 2025 (previous year: Final Dividend of, 7.50 per Ordinary Share). Together with the Interim Dividend of I!' 6.50 per Ordinary Share (previous year: I!' 6.25 per Ordinary Share) paid on 7th March, 2025, the total Dividend for the financial year ended 31st March, 2025 amounts to I!' 14.35 per Ordinary Share (previous year: I!' 13.75 per Ordinary Share). Total cash outflow on account of Dividend (including Interim Dividend of I!' 8133.11 Crores paid in March, 2025) will be I!' 17956.69 Crores (previous year: I!' 17162.99 Crores).

The Record Date fixed for the purpose of determining entitlement of the Members for the Final Dividend is Wednesday, 28th May, 2025 and such Dividend, if declared, will be paid between Monday, 28th July, 2025 and Thursday, 31st July, 2025 to those Members entitled thereto.

The 114th Annual General Meeting of the Company has been convened for Friday, 25th July, 2025.
This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ITC LIMITED

Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Twelve Months ended 31st March, 2025

	If inCroresl	If inCroresl	If inCroresl	If inCroresl	If inCroresl	If inCroresl
	STANDALONE
Particulars	Corresponding Preceding 3 Months 3 Months 3 Months ended ended ended 31.03.2025# 31.03.2024# 31.12.2024 Twelve Months ended 31.03.2025					Twelve Months ended 31.03.2024
	(Audited 8399.6 5494.6	)	(Audited (Unaudited'		(Audited) (Audited)
1. Segment Revenue a) FMCG - Cigarettes -Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less: Inter-segment revenue		1 3	7924.84 8136.29 5300.17 5418.18		32631.27 30596.59 21981.57 20966.83
	13894.24		13225.01 13554.47		54612.84 51563.42
	3649.16 2187.62 52.72		3100.73 3350.81 2072.85 2144.45 43.69 44.64		19753.80 15791.83 8422.81 8344.40 167.37 145.26 82956.82 75844.91
	19783.74		18442.28 19094.37		82956.82
	1517.57		1710.74	1038.91 18055.46	9492.27 73464.55	9187.87 66657.04
Gross Revenue from sale of products and services 2. Segment Results a) FMCG - Cigarettes -Others [Note (i)] Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less: i) Finance Costs ii) Other un-allocable (income) net of un-allocable expenditure [Note (ii)] iii) Exceptional Items*	18266.17 16731.54 5117.86 4923.31 344.89 477.25 5462.75 5400.56 255.06 202.55 202.23 293.38 20.94 18.20
				4924.04 317.11 5241.15 412.45 205.48 18.15 5877.23		19089.17 1778.55 20867.72 1254.43 1377.60 53.09 23552.84 34.39 (2113.67) - 25632.12 9160.85 12500.83 21661.68 5024.81 9413.71 134.99 36235.19 6548.66 44543.75 87327.60 5248.89 2501.71
	5940.98		5914.69
	8.51 (484.38) -		9.29 (382.17) -
Profit Before Tax from Continuing Oprations 3. Segment Assets a) FMCG - Cigarettes -Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Discontinued Operations Unallocated Corporate Assets Total Assets**	6416.85 9929.46 12911.68 22841.14 6956.68 9656.83 149.52
	39604.17 36235.19 - 6548.66 44405.03 44543.75 84009.20 87327.60			38953.06 12088.44 43937.12 94978.62 39604.17 - 44405.03 84009.20
4. Segment Liabilities a) FMCG - Cigarettes -Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Discontinued Operations** Unallocated Corporate Liabilities	5516.37 2442.96		5248.89 2501.71	5874.64 2434.84 5516.37 2442.96
	7959.33		7750.60	8309.48 7959.33		7750.60
	2221.65 1361.09 60.69		1380:10 1257.39 29.22	1304.57 1391.46 24.90 2221.65 1361.09 60.69		1380.10 1257.39 29.22
	11602.76 - 4506.30		10417.31 1128.07 3548.92	11030.41 1393.68 3534.79 11602.76 - 4506.30		10417.31 1128.07 3548.92
Total Liabilities	16109.06		15094.30	15958.88 16109.06		15094.30

The figures of 3 months ended 31.03.2025 and corresponding 3 months ended 31.03.2024 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, which were subjected to limited review.

Refer Note 4 to the Standalone Financial Results.

** Refer Note 6 to the Standalone Financial Results.

Note (i): In respect of FMCG-Others segment, earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter and twelve months ended 31.03.2025 is f 489.96 Crores and f 2163.92 Crores respectively (quarter ended 31.12.2024 - f 462.71 Crores; quarter ended 31.03.2024 - f 616.42 Crores and twelve months ended 31.03.2024 - f 2338.50 Crores).

Note (ii): As stock options and stock appreciation linked reward units are granted 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.

ITC Limited

ITC Limited	ITC Limited
		(fin Crores)
Balance Sheet		STANDALONE
Pariculars		As at 31st March 2025	As at 31st March 2024
		(Audited'	(Audited'
A 1 2 B 1 2	ASSETS Non-current assets (a) Property, Plant and Equipment 16445.49 (b) Capital work-in-progress 1067.79 (c) Investment Property 399.89 (d) Goodwill 577.20 (e) Other Intangible assets 2024.04 (f) Intangible assets under development 2.91 (g) Right-of-use assets 541.86 (h) Financial Assets (i) Investments 20701.17 (ii) Loans 6.28 (iii) Others 1522.90 (i) Other non-current assets 963.73 Non-current asset 44253.26 Current assets (a) Inventories 15061.01 (b) Financial Assets (i) Investments 15285.91 (ii) Trade receivables 3910.77 (iii) Cash and cash equivalents 222.06 (iv) Bank Balances other than (iii) above 2962.32 (v) Loans 8.96 (vi) Others 1261.20 (c) Other current assets 1043.71 Current asset 39755.94 Total A ets 84009.20 EQUITY AND LIABILITIES Equity (a) Equity Share capital 1251.41 (b) Other Equity 66648.73 Equity 67900.14 LIABILITIES Non-current liabilities (a) Financial Liabilities (i) Borrowings - (ii) Lease Liabilities 117.45 (iii) Other financial liabilities 87.89 (b) Provisions 225.23 (c) Deferred tax liabilities (Net) 2556.35 Non-current liabilities 2986.92 Current liabilities (a) Financial Liabilities (i) Borrowings 1.76 (ii) Lease Liabilities 37.54 (iii) Trade payables (A) total outstanding dues of micro and small 178.24 enterprises; and (B) total outstanding dues of creditors other 4311.58 than micro and small enterprises (iv) Other financial liabilities 1448.69 (b) Other current liabilities 6070.02 (c) Provisions 46.53 (d) Current Tax Liabilities (Net) 1027.78 Currnt liabilities 13122.14 Total Equit and Liabilities 84009.20	16445.49 1067.79 399.89 577.20 2024.04 2.91 541.86 20701.17 6.28 1522.90 963.73 44253.26 15061.01 15285.91 3910.77 222.06 2962.32 8.96 1261.20 1043.71 39755.94	22015.50 1077.97 373.09 577.20 2055.74 9.07 721.69 22821.94 2.63 372.88 1229.22 51256.93 12631.51 11916.88 3311.45 197.63 6020.06 9.10 849.86 1134.18 36070.67
		84009.20	87327.60
			1248.47 70984.83 72233.30 1.76 261.95 109.87 221.45 2083.66 2678.69
		1.76 37.54 178.24 4311.58 1448.69 6070.02 46.53 1027.78	1.52 46.74 206.85 4282.70 1659.33 5389.75 68.72 760.00
		13122.14	12415.61
		84009.20	87327.60

ITC Limited

Standalone Statement of Cash Flows for the year ended 31st March, 2025

F 1668.88 130.00 44.84 (1423.52 (1019.59 (105.37) 223.23 11.53 1.87 11.00 (15617.37) (1396.92) 4.36 (839.29) (2695.45) 1332.98	or the year ended 31st March, 2025 (fin Crores)		For the year ended 31st March, 2024 (fin Crores)
	26528.82 15735.58 ) ) (17467.06) 24797.34 (2201.76) 1647.82 103.10 45.73 (1592.41) (990.35) (54.07) 149.62 9.23 25.03 (9.49) (784.82) (6.28) (887.87) (2187.23) 17.30		25632.12 683.65 (1456.89) 24858.88 (3057.80)
(1788.64) 157.77 (59298.75) 59961.52 (866.08) (29.99) (390.52) 390.19 1019.59 986.69 (5217.10) 5920.74 (1200.00) 500.00 (17.39) 13.45	22595.58 (5844.57) 16751.01	(2647.23) 100.85 (64931.45) 67992.14 (1050.35) (86.26) (0.90) (2745.51) 2622.86 990.35 1016.53 (3578.11) 4446.34 (12.22) 10.51	21801.08 (5682.85) 16118.23
797.33 (1.52) (47.48) (44.84) 8.09 (17496.65) 19.45	141.48 (16765.62) 126.87 197.63 (102.44) 222.06	1442.83 (1.26) (56.64) (46.02) 12.12 (19606.06)	2127.55 (18255.03) (9.25) 206.88 - 197.63

Refer Note 6 to the Standalone Financial Results.

Notes:

1. The above Statement of Cash Flows has been prepared under the "Indirect Method" as set out in Ind AS - 7 "Statement of Cash Flows"-

2. CASH AND CASH EQUIVALENTS: Cash and cash equivalents as above Unrealised gain/ (loss) on foreign currency cash and cash equivalents Cash and cash equivalents	As at 31st March, 2025 222.06 222.06	As at 31st March, 2024 197.63 197.63

Net Cash Flow from Operating Activities includes an amount of� 442.68 Crores (2024 - "436.16 Crores) spent towards Corporate Social Responsibility.

4. Figures presented as" ... " are below the rounding off norm adopted by the Company.

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 three business groups : FMCG, 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) Pursuant to the Scheme of Demerger and in terms of applicable Accounting Standards (Ind AS), the Company has reported its Hotels Business (excluding ITC Grand Central, Mumbai) as 'Discontinued Operations'. Accordingly, 'Hotels' no longer forms a reportable segment of the Company. The segment information of ITC Grand Central, Mumbai which has been retained with the Company have been disclosed under a new 'Others' segment.
(3) The business groups now 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. Paperboards, Paper & Packaging Paperboards, Paper including Specialty Paper & Packaging including Flexibles. Agri Business Agri commodities such as wheat, rice, spices, coffee, soya and leaf tobacco. Others ITC Grand Central Hotel, Mumbai

(4) 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.

Registered Office : Virginia House, 37 J.L. Nehru Road, Kolkata 700 071, India Dated : 22nd May, 2025 Place : Kolkata, India Director & Cj)illH"liiancial Officer Chairman & Managing Director �. (DIN: 01804345) (DIN: 00280529)

Website: www.itcportal.com I E-mail: [email protected] I Phone: +91-33-2288 9371 I Fax: +91-33-2288 0655 I GIN: L 16005WB1910PLC001985

Endurtna Value ITC Limited Statement of Consolidated Financial Results for the Quarter and Twelve Months ended 31st March, 2025

		{f in Croresl	{f in Croresl	{f in Croresl	{f in Croresl
Pariculars		3 Months ended 31.03.2025"	Corresponding 3 Months ended 31.03.2024"	Preceding Twelve Twelve 3 Months Months Months ended ended ended 31.12.2024 31.03.2025 31.03.2024
		/Audited)	IAuditedl 18412.52 149.07	/Unaudited /Audited 20140.15 80942.76 209.81 670.02	(Audited 73350.53 540.90
CONTINUING OPERATIONS Gross Revenue from sale of products a.nd services (i) Other operating revenue (ii) REVENUE FROM OPERATIONS [(i)+(ii)] 1 OTHER INCOME 2 TOTAL INCOME (1+2) 3 EXPENSES a) Cost of materials consumed b) Purchases of Stock-in-Trade and Biological Assets c) Changes in inventories of finished goods, Stock-in-Trade, work-in-progress, intermediates and Biological Assets d) Excise duty e) Employee benefits expense f) Finance costs g) Depreciation and amortization expense h) Other expenses TOTAL EXPENSES 4 SHARE OF PROFIT / (LOSS) OF ASSOCIATES AND JOINT VENTURES 5 PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3-4+5) 6 EXCEPTIONAL ITEMS 7 PROFIT BEFORE TAX (6+7) 8 TAX EXPENSE 9 a) Current Tax (Refer Note 4) b) Deferred Tax PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS (8-9) 10 PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX FROM DISCONTINUED OPERATIONS 11 EXCEPTIONAL ITEMS OF DISCONTINUED OPERATIONS 12 TAX EXPENSE OF DISCONTINUED OPERATIONS 13 PROFIT FOR THE PERIOD FROM DISCONTINUED OPERATIONS (11+12-13) (Refer Note 5) 14 PROFIT FOR THE PERIOD (10+14) 15 OTHER COMPREHENSIVE INCOME 16 A (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss TOTAL COMPREHENSIVE INCOME (15+16) 17 PROFIT FOR THE PERIOD ATTRIBUTABLE TO: OWNERS OF THE PARENT NON-CONTROLLING INTERESTS OTHER COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO: OWNERS OF THE PARENT NON-CONTROLLING INTERESTS TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO: OWNERS OF THE PARENT NON-CONTROLLING INTERESTS PAID UP EQUITY SHARE CAPITAL 18 (Ordinary Shares of f 1/- each) RESERVES EXCLUDING REVALUATION RESERVES 19 EARNINGS PER SHARE (of� 1/- each) (not annualised): 20 For Continuing Operations (a) Basic (f) (b) Diluted (f) For Discontinued Operations (a) Basic (fl (b) Diluted (f) For Continuing and Discontinued Operations (a)Basic (f) (b)Diluted(f)	(i) (ii) 1 2 3	20176.41 199.95
		20376.36 640.26 21016.62	18561.59 683.43 19245.02	20349.96 81612.78 595.86 2529.69 20945.82 84142.47	73891.43 2693.22 76584.65

		6219.76 1884.70 (367.02) 1611.36 1596.86 10.91 411.03 2911.31 14278.91 98.41 6836.12 - 6836.12 1680.85 1514.86 165.99 5155.27 - 15145.18 492.57 14652.61 19807.88 (401.59) (711.14) 100.94 217.34 (8.73) 19406.29	5408.79 1374.62 (271.67) 1523.79 1398.08 10.72 385.09 2825.79 12655.21 (0.12) 6589.69 - 6589.69 1583.55 1521.30 62.25 5006.14 249.82 (2.05) 63.20 184.57 5190.71 2022.56 2014.09 (226.08) 239.83 (5.28) 7213.27	6016.04 23757.33 21288.44 2369.36 8947.04 6060.13 (421.91) (725.65) (367.77) 1559.79 6289.44 5959.49 1590.54 6169.78 5548.53 9.82 45.06 39.11 415.98 1646.32 1518.05 2874.24 11196.63 10152.82 14413.86 57325.95 50198.80 4.10 110.42 14.43 6536.06 26926.94 26400.28 - - - 6536.06 26926.94 26400.28 1726.32 6890.47 6209.46 1644.95 6509.61 6017.21 81.37 380.86 192.25 4809.74 20036.47 20190.82 290.41 525.84 747.17 (12.18) 15128.81 (7.57) 74.79 638.64 179.06 203.44 15016.01 560.54 5013.18 35052.48 20751.36 423.12 (624.86) 2955.66 417.92 (1072.62) 2941.52 (65.13) 59.58 (268.53) 62.92 398.32 291.46 7.41 (10.14) (8.79) 5436.30 3427.62 23707.02
	18 19 20
				4934.80 34746.63 20458.78 78.38 305.85 292.58 423.12 (624.87) 2955.66 0.01 ... 5357.92 34121.76 23414.44 78.38 305.86 292.58 1251.17 1251.41 1248.47 68778.64 73258.53 3.79 15.78 15.98 3.78 15.76 15.94 0.16 12.01 0.44 0.16 11.99 0.44 3.95 27.79 16.42 3.94 27.75 16.38

The figures of 3 months ended 31.03.2025 and corresponding 3 months ended 31.03.2024 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, which were subjected to limited review.

Notes:

The audited Consolidated 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 22nd May, 2025.
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'.
24,09,390 Ordinary Shares of� 1/- each were issued and allotted under the Company's Employee Stock Option Schemes during the quarter ended 31st March, 2025. Consequently, the issued and paid-up Share Capital of the Company stands increased to� 1251,41, 19,781/- as on 31st March, 2025.
The Group had, in the previous year, reassessed its provisions relating to uncertain tax positions for earlier years based on a favourable Order of the Hon'ble Supreme Court received during the year ended 31st March, 2024. This had resulted in a credit of, 468.44 Crores in the Current Tax expense for the year ended 31st March, 2024.
The Scheme of Arrangement amongst the Company 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 ('the Scheme') for demerger of the Hotels Business of the Group into ITCHL became effective from 1st January, 2025, being the Appointed Date and the Effective Date of the Scheme.

With effect from the Appointed Date, the carrying / book value of the net assets of the Demerged Undertaking (as defined in the Scheme) amounting to , 10466.83 Crores was transferred to ITCHL on a going concern basis.

Pursuant to the Scheme, ITCHL allotted 125, 11, 71,040 Equity Shares of, 1/- each on 11th January, 2025 to the shareholders of the Company (as on the Record Date i.e., 6th January, 2025) and therefore it has ceased to be a subsidiary of the Company. The Group's shareholding in ITCHL stands at 39.88% of its paid-up share capital and consequently, ITCHL has become an Associate of the Group.

As provided in the Scheme, the Group has accounted for the aforesaid demerger in its books of accounts in accordance with the Indian Accounting Standards (Ind AS) and generally accepted accounting principles in India. The fair value of the net assets of the Demerged Undertaking distributed to the shareholders of the Company, amounting to , 22033.37 Crores has been debited to General Reserve.

The carrying / book value of the net assets of the Demerged Undertaking to the extenl of the Group's continued holding in ITCHL amounting to, 4174.04 Crores has been added to the value of investment in ITCHL.

The excess of fair value of the net assets distributed to the shareholders of the Company and addition to the value of investment in ITCHL over the carrying value of net assets of the Demerged Undertaking and consequential adjustments of, (157.46) Crores pursuant to the Scheme, has been recognised as an exceptional gain in the Statement of Profit and Loss amounting to, 15128.81 Crores [net of demerger related expenses of, 454.31 Crores (2024 - 1/' 7.57 Crores}).

In terms of the requirements of Ind AS, the operations of the Hotels Business of the Group (excluding ITC Grand Central, Mumbai) have been classified as 'Discontinued Operations' for the year ended 31st March, 2025 and comparative information in the Statement of Profit and Loss has been presented accordingly.

Brief particulars of the Discontinued Operations are given as under:

1, in Croresl Corresponding Preceding Twelve Twelve Sr No Pariculars 3 Months 3 Months 3 Months Months Months ended ended ended ended ended 31.03.2025 31.03.2024 31.12.2024 31.03.2025 31.03.2024 (Audited) (Audited) (Unaudited) (Audited) (Audited) a. Revenue from Operations - 904.94 1013.28 2484.58 3033.90 b. Total Income - 905.45 1028.45 2517.16 3068.89 c. Total Expenses - 659.24 741.57 2002.67 2334.90 d. Share of Profit/ (Loss} of Associates and Joint Ventures - 3.61 3.53 11.35 13.18 e. Profit Before Exceptional Items And Tax (b-c+d) - 249.82 290.41 525.84 747.17 f. Exceptional Items 15145.18 (2.05) (12.18} 15128.81 (7.57} g. Tax Expenses* 492.57 63.20 74.79 638.64 179.06 h. Profit from Discontinued ooerations /e+f-al 14652.61 184.57 203.44 15016.01 560.54	1, in Croresl Corresponding Preceding Twelve Twelve Sr No Pariculars 3 Months 3 Months 3 Months Months Months ended ended ended ended ended 31.03.2025 31.03.2024 31.12.2024 31.03.2025 31.03.2024 (Audited) (Audited) (Unaudited) (Audited) (Audited) a. Revenue from Operations - 904.94 1013.28 2484.58 3033.90 b. Total Income - 905.45 1028.45 2517.16 3068.89 c. Total Expenses - 659.24 741.57 2002.67 2334.90 d. Share of Profit/ (Loss} of Associates and Joint Ventures - 3.61 3.53 11.35 13.18 e. Profit Before Exceptional Items And Tax (b-c+d) - 249.82 290.41 525.84 747.17 f. Exceptional Items 15145.18 (2.05) (12.18} 15128.81 (7.57} g. Tax Expenses* 492.57 63.20 74.79 638.64 179.06 h. Profit from Discontinued ooerations /e+f-al 14652.61 184.57 203.44 15016.01 560.54	1, in Croresl Corresponding Preceding Twelve Twelve Sr No Pariculars 3 Months 3 Months 3 Months Months Months ended ended ended ended ended 31.03.2025 31.03.2024 31.12.2024 31.03.2025 31.03.2024 (Audited) (Audited) (Unaudited) (Audited) (Audited) a. Revenue from Operations - 904.94 1013.28 2484.58 3033.90 b. Total Income - 905.45 1028.45 2517.16 3068.89 c. Total Expenses - 659.24 741.57 2002.67 2334.90 d. Share of Profit/ (Loss} of Associates and Joint Ventures - 3.61 3.53 11.35 13.18 e. Profit Before Exceptional Items And Tax (b-c+d) - 249.82 290.41 525.84 747.17 f. Exceptional Items 15145.18 (2.05) (12.18} 15128.81 (7.57} g. Tax Expenses* 492.57 63.20 74.79 638.64 179.06 h. Profit from Discontinued ooerations /e+f-al 14652.61 184.57 203.44 15016.01 560.54
Sr No Pariculars a. Revenue from Operations b. Total Income c. Total Expenses d. Share of Profit/ (Loss} of Associates and Joint Ventures e. Profit Before Exceptional Items And Tax (b-c+d) f. Exceptional Items g. Tax Expenses* h. Profit from Discontinued ooerations /e+f-al	3 Months ended 31.03.2025 (Audited) - - - - - 15145.18 492.57 14652.61	Corresponding Preceding 3 Months 3 Months ended ended 31.03.2024 31.12.2024 (Audited) (Unaudited) 904.94 1013.28 905.45 1028.45 659.24 741.57 3.61 3.53 249.82 290.41 (2.05) (12.18} 63.20 74.79 184.57 203.44

*Tax expenses for the quarter and year ended 31st March, 2025 includes , 602.79 Crores (2024 - Nil) relating to deferred tax liability recognised on addition to the value of investment in ITCHL.

The Group has entered into the following agreements:

(a) On 6th February, 2025, for acquiring 100% of the share capital of Ample Foods Private Limited ('AFPL' - along with its wholly owned subsidiary, Chao Chao Foods Private Limited) and Meat and Spice Private Limited. In accordance with the same, the Group acquired 2,62,500 Equity Shares of, 10/- each of AFPL on 4th April, 2025, consequent to which the Group's shareholding in that company aggregates 43.75% of its share capital on a fully diluted basis.

(b) On 31st March, 2025, for acquiring the pulp and paper business undertaking of Aditya Birla Real Estate Limited, operating under the name of 'Century Pulp and Paper' along with the assets, liabilities, contracts, employees etc., as a going concern on a slump sale basis, subject to receipt of necessary approvals.

(c) On 17th April, 2025, for acquiring 100% of the share capital of Sresta Natural Bioproducts Private Limited.
(d} On 17th April, 2025, for acquiring the remaining stake of 73.50% of the share capital (on a fully diluted basis) of Mother Sparsh Baby Care Private Limited, an associate company.
The Group on 13th May, 2025 divested its entire shareholding of 7,759 Compulsorily Convertible Preference Shares of, 10/- each and 2,386 Equity Shares of, 10/ each held in Delectable Technologies Private Limited ('DTPL'), consequent to which DTPL ceased to be an associate company with effect from the said date.
The Board of Directors of the Company have recommended to the Members for their approval, Final Dividend of , 7.85 per Ordinary Share of 1/' 1/- each for the financial year ended 31st March, 2025 (previous year: Final Dividend of, 7.50 per Ordinary Share). Together with the Interim Dividend of, 6.50 per Ordinary Share (previous year:, 6.25 per Ordinary Share) paid on 7th March, 2025, the total Dividend for the financial year ended 31st March, 2025 amounts to, 14.35 per Ordinary Share (previous year:, 13.75 per Ordinary Share). Total cash outflow on account of Dividend (including Interim Dividend of , 8133.11 Crores paid in March, 2025) will be, 17956.69 Crores (previous year:, 17162.99 Crores).

Figures presented as" ... " are below the rounding off norm adopted by the Group.
1 O The 114th Annual General Meeting of the Company has been convened for Friday, 25th July, 2025.
This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ITC LIMITED Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Twelve Months ended 31st March, 2025

						(f in Crores)
Pariculars		CONSOLIDATED
		Corresponding 3 Months 3 Months ended ended 31.03.2025° 31.03.2024"		Preceding 3 Months ended 31.12.2024	Twelve Months ended 31.03.2025	Twelve Months ended 31.03.2024
1. Segment Revenue a) FMCG - Cigarettes • - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less: Inter-segment revenue Gross Revenue from sale ofproducts and services	Segment Revenue a) FMCG - Cigarettes • - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less: Inter-segment revenue	(Audited)	(Audited) (Unaudited) 8688.92 8944.83 5307.94 5427.70 13996.86 14372.53 (Audited) 35893.57 22015.12 57908.69			(Audited) 33667.97 21002.15 54670.12
		9228.66 5503.33
		14731.99
		3694.64 2188.69 1164.99	3136.43 3626.01 2072.86 2144.86 1001.23 1121.33 20163.79 16124.43 8424.58 8344.41 4288.11 3757.37
		21780.31	20207.38 21264.73 90785.17 82896.33
		1603.90	1794.86 1124.58 9842.41 9545.80
		20176.41	18412.52 20140.15 80942.76 73350.53
2. Segment Results a) FMCG - Cigarettes - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less: i) Finance Costs ii) Other un-allocable (income) net of im-allocable expenditure (Refer Note) iii) Exceptional items Add: i) Share of Profit_I_(Loss) of associates and joint ventures Profit Before Tax from continuing operations 3. Segment Assets a) FMCG - Cigarettes - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Discontinued Operations* Unallocated Corporate Assets		5402.57 346.18	5157.57 479.84	5191.43 320.64	21091.35 20071.04 1590.23 1789.91 22681.58 21860.95 1540.30 1278.33 883.11 1372.34 670.73 642.70 25775.72 25154.32 45.06 39.11 (1085.86) (1270.64) - - 110.42 14.43 26926.94 26400.28 10584.67 9751.86 13016.19 12592.81
		5748.75 252.71 194.96 204.62	5637.41 186.52 291.06 203.08	5512.07 496.15 197.09 138.40
		6401.04 10.91 (347 58) - 98.41 6836.12 10584.67 13016.19 23600.86	6318.07 10.72 (282.46) - (0.12) 6589.69 9751.86 12592.81 22344.67	6343.71 9.82 (198.07) - 4.10 6536.06 9884.76 13509.14
				23393.90	23600.86	22344.67
		7904.83 9908.98 2736.44	5850.07 9596.76 2362.07	7096.89 9980.24 2740.11	7904.83 9908.98 2736.44	5850.07 9596.76 2362.07
		44151.11 - 43939.57	40153.57 9899.97 41772.62	43211.14 12162.90 43812.18	44151.11 - 43939.57	40153.57 9899.97 41772.62
Total Assets 4. Segment Liabilities a) FMCG - Cigarettes - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Discontinued Operations* Unallocated Corporate Liabilities		88090.68 5729.56 2432.70	91826.16 5442.84 2491.34	99186.22 6037.08 2424.46	88090.68 5729.56 2432.70	91826.16 5442.84 2491.34
		8162.26	7934.18	8461.54	8162.26	7934.18 1467.72 1287.23 1091.82
		2176.93 1384.96 1101.44 12825.59 - 4867.15	1467.72 1287.23 1091.82 11780.95 1319.74 3835.50	1321.11 1412.91 1111.05 12306.61 1660.70 3884.54	2176.93 1384.96 1101.44 12825.59 - 4867.15
						11780.95 1319.74 3835.50
Total Liabilities		17692.74	16936.19	17851.85	17692.74	16936.19
# The figures of 3 months ended 31.03.2025 and corresponding figures in respect of the full financial year and the year to date subjected to limited review.		3 months ended 31.03.2024 are the balancing figures between the audited figures upto the third quarter of the respective financial years, which were

• Refer note 5 to the Consolidated Financial Results.

Note: As stock options and stock appreciation linked reward units are granted to align the interests of employees with those of shareholders and also to attract and retain talent for the Group as a whole, the charge thereof do not form part of the segment performance reviewed by the Corporate Management Committee.

ITC Limited

(fin Crores) Balance Sheet CONSOLIDATED Pariculars As at As at 31st March 2025 31st March 2024 /Audited) /Audited) A ASSETS 1 Non-current assets (a) Property, Plant and Equipment 17428.89 23082.33 (b) Capital work-in-progress 1087.60 2851.14 (c) Investment Property 322.40 340.93 (d) Goodwill 896.93 779.73 (e) Other Intangible assets 2724.74 2678.11 (f) Intangible assets under development 3.31 9.64 (g) Right-of-use assets 581.89 939.12 (h) Investment accounted for using the equity method 4711.78 549.73 (i) Financial Assets (i) Investments 13720.54 17619.87 (ii) Loans 7.60 4.05 (iii) Others 1557.57 408.99 (j) Deferred tax assets (Net) 87.98 72.19 (k) Income Tax Assets (Net) 50.24 44.93 (I) Other non-current assets 1015.93 1379.86 Non-current assets 44197.40 50760.62 2 Current assets (a) Inventories 15637.56 14152.88 (b) Biological assets other than bearer plants 198.58 150.00 (c) Financial Assets (i) Investments 16287.50 12944.42 (ii) Trade receivables 4719.67 4025.82 (iii) Cash and cash equivalents 620.00 625.89 (iv) Bank balances other than (iii) above 3392.36 6591.79 (v) Loans 9.51 9.81 (vi) Others 1656.25 1181.74 (d) Other current assets 1371.85 1383.19 Current assets 43893.28 41065.54 Total Assets 88090.68 91826.16 B EQUITY AND LIABILITIES Equity (a) Equity Share capital 1251.41 1248.47 (b) Other Equity 68778.64 73258.53 Attributable to the owners of the parent 70030.05 74507.00 Non-controlling interests 367.89 382.97 Total Equity 70397.94 74889.97 LIABILITIES 1 Non-current liabilities (a) Financial Liabilities (i) Borrowings - 1.76 (ii) Lease liabilities 137.21 230.61 (iii) Other financial liabilities 301.34 433.96 (b) Provisions 303.11 288.30 (c) Deferred tax liabilities (Net) 2582.46 2141.44 (d) Other non-current liabilities 34.51 149.72 Non-current liabilities 3358.63 3245.79 2 Current liabilities (a) Financial Liabilities (i) Borrowings 91.26 9.52 (ii) Lease liabilities 56.07 61.54 (iii) Trade payables (A) Total outstanding dues of micro and small 180.64 207.23 enterprises (B) Total outstanding dues of creditors other than 4626.66 4590.60 micro and small enterprises (iv) Other financial liabilities 1921.50 2179.00 (b) Other current liabilities 6148.27 5594.72 (C) Provisions 80.06 106.91 (d) Current Tax Liabilities (Net) 1229.65 940.88 Current liabilities 14334.11 13690.40 Total Equit and Liabilities 88090.68 91826.16	(fin Crores) Balance Sheet CONSOLIDATED Pariculars As at As at 31st March 2025 31st March 2024 /Audited) /Audited) A ASSETS 1 Non-current assets (a) Property, Plant and Equipment 17428.89 23082.33 (b) Capital work-in-progress 1087.60 2851.14 (c) Investment Property 322.40 340.93 (d) Goodwill 896.93 779.73 (e) Other Intangible assets 2724.74 2678.11 (f) Intangible assets under development 3.31 9.64 (g) Right-of-use assets 581.89 939.12 (h) Investment accounted for using the equity method 4711.78 549.73 (i) Financial Assets (i) Investments 13720.54 17619.87 (ii) Loans 7.60 4.05 (iii) Others 1557.57 408.99 (j) Deferred tax assets (Net) 87.98 72.19 (k) Income Tax Assets (Net) 50.24 44.93 (I) Other non-current assets 1015.93 1379.86 Non-current assets 44197.40 50760.62 2 Current assets (a) Inventories 15637.56 14152.88 (b) Biological assets other than bearer plants 198.58 150.00 (c) Financial Assets (i) Investments 16287.50 12944.42 (ii) Trade receivables 4719.67 4025.82 (iii) Cash and cash equivalents 620.00 625.89 (iv) Bank balances other than (iii) above 3392.36 6591.79 (v) Loans 9.51 9.81 (vi) Others 1656.25 1181.74 (d) Other current assets 1371.85 1383.19 Current assets 43893.28 41065.54 Total Assets 88090.68 91826.16 B EQUITY AND LIABILITIES Equity (a) Equity Share capital 1251.41 1248.47 (b) Other Equity 68778.64 73258.53 Attributable to the owners of the parent 70030.05 74507.00 Non-controlling interests 367.89 382.97 Total Equity 70397.94 74889.97 LIABILITIES 1 Non-current liabilities (a) Financial Liabilities (i) Borrowings - 1.76 (ii) Lease liabilities 137.21 230.61 (iii) Other financial liabilities 301.34 433.96 (b) Provisions 303.11 288.30 (c) Deferred tax liabilities (Net) 2582.46 2141.44 (d) Other non-current liabilities 34.51 149.72 Non-current liabilities 3358.63 3245.79 2 Current liabilities (a) Financial Liabilities (i) Borrowings 91.26 9.52 (ii) Lease liabilities 56.07 61.54 (iii) Trade payables (A) Total outstanding dues of micro and small 180.64 207.23 enterprises (B) Total outstanding dues of creditors other than 4626.66 4590.60 micro and small enterprises (iv) Other financial liabilities 1921.50 2179.00 (b) Other current liabilities 6148.27 5594.72 (C) Provisions 80.06 106.91 (d) Current Tax Liabilities (Net) 1229.65 940.88 Current liabilities 14334.11 13690.40 Total Equit and Liabilities 88090.68 91826.16		(fin Crores)	(fin Crores)
	et		CONSOLIDATED
			As at As at 31st March 2025 31st March 2024 /Audited) /Audited)
	TS urrent assets Property, Plant and Equipment Capital work-in-progress Investment Property Goodwill Other Intangible assets Intangible assets under development Right-of-use assets Investment accounted for using the equity method Financial Assets (i) Investments (ii) Loans (iii) Others Deferred tax assets (Net) Income Tax Assets (Net) Other non-current assets Non-current assets nt assets Inventories Biological assets other than bearer plants Financial Assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Others Other current assets Current assets Total Assets TY AND LIABILITIES y Equity Share capital Other Equity Attributable to the owners of the parent ontrolling interests Total Equity LITIES urrent liabilities Financial Liabilities (i) Borrowings (ii) Lease liabilities (iii) Other financial liabilities Provisions Deferred tax liabilities (Net) Other non-current liabilities Non-current liabilities nt liabilities Financial Liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables (A) Total outstanding dues of micro and small enterprises (B) Total outstanding dues of creditors other than micro and small enterprises (iv) Other financial liabilities Other current liabilities Provisions Current Tax Liabilities (Net) Current liabilities		17428.89 23082.33 1087.60 2851.14 322.40 340.93 896.93 779.73 2724.74 2678.11 3.31 9.64 581.89 939.12 4711.78 549.73 13720.54 17619.87 7.60 4.05 1557.57 408.99 87.98 72.19 50.24 44.93 1015.93 1379.86 44197.40 50760.62
			15637.56 14152.88 198.58 150.00 16287.50 12944.42 4719.67 4025.82 620.00 625.89 3392.36 6591.79 9.51 9.81 1656.25 1181.74 1371.85 1383.19
			43893.28 41065.54

			88090.68 91826.16
			1251.41 1248.47 68778.64 73258.53
			70030.05 74507.00 367.89 382.97 70397.94 74889.97 - 1.76 137.21 230.61 301.34 433.96 303.11 288.30 2582.46 2141.44 34.51 149.72
			3358.63 3245.79
			91.26 9.52 56.07 61.54 180.64 207.23 4626.66 4590.60 1921.50 2179.00 6148.27 5594.72 80.06 106.91 1229.65 940.88
			14334.11 13690.40

ITC limited

Consolidated Statement of Cash Flows for the year ended 31st March, 2025

	Fo	rtheyear ended 31st March, 2025 (" In Crores) 26926.94 15654.65 115862.35) 26719.24 (2742.0) 23971.24 16350.20) 17627.04 For the year ended 31st March, 2024 (" in Crores) 26400.28 739.60 1816.39 107.30 45.96 11710.51) 111:13) 157.04) 156.12 14.81 24.61 0.06 19.84) 127.61) 1840.17) 113.38) 1504.43) 26635.45 1933.64) 12544.87) 141.48 (3337.03) 23298.42 16119.56) 17178.86 13562.53) 107.48 (72237.17) 75201.73 165.04) 12870.12) 2627.78 24.52 11.13 1138.35 (4612.10) 5800.00 112.55) 11.29	rtheyear ended 31st March, 2025 (" In Crores) 26926.94 15654.65 115862.35) 26719.24 (2742.0) 23971.24 16350.20) 17627.04 For the year ended 31st March, 2024 (" in Crores) 26400.28 739.60 1816.39 107.30 45.96 11710.51) 111:13) 157.04) 156.12 14.81 24.61 0.06 19.84) 127.61) 1840.17) 113.38) 1504.43) 26635.45 1933.64) 12544.87) 141.48 (3337.03) 23298.42 16119.56) 17178.86 13562.53) 107.48 (72237.17) 75201.73 165.04) 12870.12) 2627.78 24.52 11.13 1138.35 (4612.10) 5800.00 112.55) 11.29	rtheyear ended 31st March, 2025 (" In Crores) 26926.94 15654.65 115862.35) 26719.24 (2742.0) 23971.24 16350.20) 17627.04 For the year ended 31st March, 2024 (" in Crores) 26400.28 739.60 1816.39 107.30 45.96 11710.51) 111:13) 157.04) 156.12 14.81 24.61 0.06 19.84) 127.61) 1840.17) 113.38) 1504.43) 26635.45 1933.64) 12544.87) 141.48 (3337.03) 23298.42 16119.56) 17178.86 13562.53) 107.48 (72237.17) 75201.73 165.04) 12870.12) 2627.78 24.52 11.13 1138.35 (4612.10) 5800.00 112.55) 11.29
A. Cash Flow from Operating Activities PROFIT BEFORE TAX FROM CONTINUING OPERATIONS PROFIT BEFORE TAX FROM DISCONTINUED OPERATIONS ADJUSTMENTS FOR: Depreciation and amortization expense Share based payments to employees finance costs Interest Income Dividend Income Net gain on sale of property, plant and equipment, lease termination Invntory write-ofs / write-downs (net of reversals) Doubtful and bad debts Doubtful and bad advances, loans and deposits Impairment of investment in joint venture and associate Gain recognised on divestment of shares heldinjoint venture Share of (profit)/ loss of associates and joint ventures Gain recognised on fair valuation of net assets distributed pursuant to Scheme of Demerger• Net galn arising on financial instruments measured at amortised cost/ fair value through profit or loss/ fair value through other comprehensive income Foreign currency translations and transactions - Net OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES ADJUSTMENTS FOR: Trade receivables, advances and other assets Inventories and biological assets other than bearer plants Trade payables, other liabilites and provisions CASH GENERATED FROM OPERATIONS income tax paid (net of refunds) NET CASH FROM OPERATING ACTIVITIES B. Cash Flow from Investing Activities Purchase of property, plant and equipment, Intangibles, ROU asset etc. Sale of property, plant and equipment Purchase of current investments Sale/redemption of current investments Investment in associates Purchase of non-current investments Sale/redemption of non.urrent investments Payment towards business combination Dividend received from associates and joint venture Dividend received from others Interest received Investment in bank deposits (original maturity more than3months) Redemption/ maturity of bank deposits (original maturity more than3months) Investment in deposit with financial institution Maturity of deposit with financial institution Loans given Loans realised NET CASH (USED IN)/ FROM INVESTING ACTIVITIES C. Cash FlowfromFinancing Activities Proceeds from issue of share capital Proceeds from current borrowings Repayment of current borrowings Repayment of non-current borrowings Principal payment of lease liabilities Interestpaid Net increase in statutory restr�cted accounts balances Dividend paid Dividend distribution tax refund received NET CASHUSED IN FINANCINGACTIVITIES NET INCREASE IN CASH ANO CASH EQUIVALENTS OPENINGCASHANDCASHEQUIVALENTS LESS: ON DEMERGER • CASH AND CASH EQUIVALENTS ACQUIRED ON BUSINESS COMBINATION CLOSINGCAHANO CASH EQUIVALENTS	1950.58 133.79 50.01 11510.46) 112.14) 1135.69) 235.05 11.64 1.95 7.87 1121.77) 115583.12) 1896.84) 6.78 (1022.80) (2975.38) 1256.18 12278.70) 175.42 165999.55) 66919.64 129.99) 1373.69) 390.91 1280.45) 25.53 12.14 1072.28 16256.85) 6931.16 11200.001 500.00 117.55) 13.88	26926.94 15654.65 115862.35) 26719.24 (2742.0) 23971.24 16350.20) 17627.04 1816.39 107.30 45.96 11710.51) 111:13) 157.04) 156.12 14.81 24.61 0.06 19.84) 127.61) 1840.17) 113.38) 1933.64) 12544.87) 141.48 13562.53) 107.48 (72237.17) 75201.73 165.04) 12870.12) 2627.78 24.52 11.13 1138.35 (4612.10) 5800.00 112.55) 11.29
	797.33 89.50 152.50) 11.52) 165.52) 150.01) 8.09 117782.22) 19.45	l395.8Z) 1442.83 8.00 11.57 166.89 146.25 12.12 119899.20	) ) ) )	1562.77
		117037.40) 193.82 596.58 1199.74) 31.72 622.38		(18550.96) 190.67 405.91 596.58
• Refer Note 5 to the Consolidated Financial Results *Notes:* 1. The above Statement of Cash Flows has been prepared under the "Indirect Method" as set out in In 2. CSHAND CASH EQUIVALENTS: Cash and cash equivalents as above Unrealised gain/ (loss) on foreign currency cash and cash equivalents Cash and cash equivalents	d AS - 7 nstatemen	t of Cash Flowsn. As at 31st Marh, 2025 .622.38 12.38) 620.00	As at 31st March, 2024 596.58 29.31 625.89

Net Cash Flow from Operating Activities includes an amount off 456.51 Crores (2024- f 450.50 Crores) spent towards Corporate Social Responsibility.

Notes:

(1) The Group's corporate strategy aims at creating multiple drivers of growth anchored on its core competencies. The Group is currently focused on three business groups: FMCG, Paperboards, Paper & Packaging and Agri Business. The Group'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) Pursuant to the Scheme of Demerger and in terms of applicable Accounting Standards (Ind AS), the Group has reported its Hotels Business (excluding ITC Grand Central, Mumbai) as 'Discontinued Operations'. Accordingly, 'Hotels' no longer forms a reportable segment of the Group. The results of ITC Grand Central, Mumbai which has been retained with the Group have been disclosed under 'Others' segment.
(3) 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. Paperboards, Paper & Packaging Paperboards, Paper including Specialty Paper & Packaging including Flexibles. Agri Business Agri commodities such as wheat, rice, spices, coffee, soya, leaf tobacco and potato. Others Information Technology services, ITC Grand Central Hotel, Mumbai etc.

(4) 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.

Registered Office : Virginia House, 37 J.L. Nehru Road, For and on behalf of the Board Kolkata 700 071, India Dated : 22nd May, 2025 Director & Chief _.51lencial Officer Chairman & Managing Director Place : Kolkata, India �[DIN : 01804345) ] (DIN : 00280529) Website: www.itcportal.com I E-mail: [email protected] I Phone: +91-33-2288 9371 I Fax: +91-33-2288 0655 ! CIN : L 16005WB1910PLC001985

Enduring Vuluc _f._ ITC Limited

f Enduring Vuluc ITC Limited	f Enduring Vuluc ITC Limited	f Enduring Vuluc ITC Limited	f Enduring Vuluc ITC Limited	f Enduring Vuluc ITC Limited	f Enduring Vuluc ITC Limited	f Enduring Vuluc ITC Limited	f Enduring Vuluc ITC Limited
Extract of Audited Standalone and Consolidated Financial Results for the Quarter and Twelve Months ended 31st March, 2025 ff in croresl
		Standalone				Consoidated Corresponding 3 Months Twelve Months 3 Monts ended ended ended 31.03.2025 31.03.2025 31.03.2024
SI.No.	Pariculars	3 Months ended 31.03.2025		Twelve Months ended 31.03.2025	Corresponding 3 Monts ended 31.03.2024
1 2 3 4 5 6 7 8 9 10 11 12 Total Income fom continuing operations Net Profit/ (Loss) for the period from continuing operations (before tax and Exceptional items) Net Proft/ (Loss) for the period from continuing operations before tax (afer Exceptional Items) Net Proft/ (Loss) for the period from continuing operations afer tax Net Proft/ (Loss) for the period from discontinued operations (before tax and Exceptional items) Exceptional items of discontinued operations Net Proft/ (Loss) fom discontinued operations for the period afer tax Profit for the period [4+ 7] Total Comprehensive Income fo the period [Comprising Proft/ (Loss) for the period (afer tax) and Other Comprehensive Income (afer tx)] Equity Share Capital Reserves (excluding Revaluation Reserve) Earnings Per Share (of, 1/- each) (not annualised): 1. Basic (for continuing operations)(�): 2. Diluted (for continuing operations)(�): 3. Basic (for discontinued operations) (t): 4. Diluted (for discontinued operations)('): 5. Basic (for continuing and discontinued operations)('): 6. Diluted(for continuing and discontinued operations)('):			19289.51 6416.85 6416.85 4874.71 - 15179.43 14686.86 19561.57 18953.29 1251.41 3.89 3.89 11.75 11.73 15.64 15.62	77690.38 26000.86 26528.82 20091.85 572.52 15163.06 15103.76 35195.61 34266.23 1251.41 66648.73 16.07 16.05 12.08 12.06 28.15 28.11	17703.76 6287.57 6287.57 4837.46 246.18 (2.05) 182.74 5020.20 6545.20 1248.47 3.87 3.87 0.15 0.15 4.02 4.02	21016.62 6836.12 6836.12 5155.27 15145.18 14652.61 19807.88 19406.29 1251.41 4.05 4.05 11.72 11.70 15.77 15.75	84142.47 19245.02 26926.94 6589.69 26926.94 6589.69 20036.47 5006.14 525.84 249.82 15128.81 (2.05) 15016.01 184.57 35052.48 5190.71 34427.62 7213.27 1251.41 1248.47 68778.64 15.78 3.96 15.76 3.96 12.01 0.14 11.99 0.14 27.79 4.10 27.75 4.10

Note:

a) The above is an extract of the detailed format of the Statements of Audited Standalone and Consolidated Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015. The audited Financial Results and Segment Results were reviewed by the Audit Committee, and approved by the Board of Directors of the Company at� meeting held on 22nd May, 2025. It is confirmed that the Statutory Auditors of the Company, Mis S R B C & CO LLP, Chartered Accountants, have issued Audit Reports with unmodified opinion on the said Standalone and Consolidated Financial Results. The complete Statements of Audited Standalone and Consolidated Financial Results are available on the Company's website at hts:.itcprtal.com/about-itctshareholder-value/ke' inancials/guarte�yresults.asox and on the websites of the National Stock Exchange of India Limited (www.nseindia.com), BSE Limited (www.bseindia_.com) and The Calcutta Stock Exchange Limited (www.cse india.com). The same can also be accessed by scanning the QR Code provided below.

b) The Scheme of Arrangement amongst the Company 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 ('the Scheme') for demerger of the Hotels Business of the Company into ITCHL became effective from 1st January, 2025, being the Appointed Date and Effective Date of the Scheme. With effect from the Appointed Date, the carrying I book value of Demerged Undertaking (as defined in the Scheme) was transferred to ITCHL on a going concern basis.

Upon transfer, as provided in the Scheme and in terms of the requirements of Accounting Standards (Ind AS), an exceptional gain amounting to, 15163.06 Crores (net of demerger expenses of� 454.31 Crores) in the Standalone Financial Results and � 15128.81 Crores (net of demerger expenses of, 454.31 Crores) in the Consolidated Financial Results has been recognised representing excess of fair value of the net assets distributed to the shareholders of the Company and addition to the value of investment in ITCHL over the carrying value of net assets of the Demerged Undertaking and consequential adjustments pursuant to Scheme. In terms of the requirements of Ind AS, the operations of the Hotels Business of the Company (excluding ITC Grand Central, Mumbai) have been classified as 'Discontinued Operations' for the year ended 31st March, 2025 and comparative information in the Statement of Profit and Loss has been presented accordingly.

c) The Board of Directors of the Company have recommended to the Members for their approval, Final Dividend of� 7.85 per Ordinary Share of, 1 /- each for the financial year ended 31st March, 2025 (previous year: Final Dividend off 7.50 per Ordinary Share). Together with the Interim Dividend off 6.50 per Ordinary Share (previous year:, 6.25 per Ordinary Share) paid on 7th March, 2025, the total Dividend for the financial year ended 31st March, 2025 amounts tot 14.35 per Ordinary Share (previous year: t 13.75 per Ordinary Share). Total cash outflow on account of Dividend (including Interim Dividend of , 8133.11 Crores paid in March, 2025) will be f 17956.69 Crores (previous year: t 17162.99 Crores).

Registered Office : Virginia House, 37 J.L. Nehru Road, Kolkata 700 071, India Dated : 22nd May, 2025 Place : Kolkata, India

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�/
Chairman & Managing Director
(DIN : 00280529)
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Website: www.itcportal.com I E-mail: [email protected] I Phone: +91-33-2288 9371 I Fax: +91-33-2288 0655 I CIN : L 16005WB191 0PLC001985

22, Camac Street 3rd Floor, Block 'B' Kolkata • 700 016, India

SR BC& CO LLP Chartered Accountants

Tel : +91 33 6134 4000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of ITC Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of ITC Limited (the "Company") for the quarter ended March 31, 2025 and for the year ended March 31, 2025 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Company for the quarter ended March 31, 2025 and for the year ended March 31, 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance oL .. adequate accounting records in accordance with the provisions of the Act for safeguarding of!..-::::::-..._ the assets of the Company and for preventing and detecting frauds and other irregularities· �� : SR BC & co LLP, a L1m1ted Llab1l1ty Partnership with LLP Identity No. AAB-4318 y)'

SR BC& CO LLP Chartered Accountants

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selection and application of appropriate accounting policies; making judgements and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's

ability to continue as a going concern. If we conclude that a material uncertainty exists � · r , e[,,] \�.: �:::;-

SR 8 C & CO LLP Chartered Accountants

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we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The Statement includes the results for the quarter ended March 31, 2025 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2025 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For S R B C & CO LLP

Chartered Accountants

ICAI Firm Registration Number: 324982E/E300003

per Partner Membership No.: 89802 UDIN: 25089802BMNPUG3075 Place - Kolkata Date - May 22, 2025

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SR BC& CO LLP Chartered Accountants

22, Camac Street 3rd Floor, Block 'B' Kolkata • 700 016, India Tel : +91 33 6134 4000

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of ITC Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of ITC Limited ("Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), its associates and joint ventures for the quarter ended March 31, 2025 and for the year ended March 31, 2025 ("Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations")

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements/financial information of the subsidiaries, associates, joint ventures, the Statement:

i. includes the results of the entities as mentioned in Annexure 1;
ii. are presented in accordance with the requirements of the Listing Regulations in this regard; and
iii. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the quarter ended March 31, 2025 and for the year ended March 31, 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results" section of our report. We are independent of the Group, its associates and joint ventures in accordance with the 'Code of Ethics' issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group including its associates and joint ventures in accordance with the applicable accounting standards prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group and of its associates and joint ventures are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of their __ .. respective companies and for preventing and detecting frauds and other irregularities; selection and

:, c,. Co < •Q;)r er \<o1',1t f ;�II c , ,, * (/I

SR BC & co LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318

SR BC & CO LLP Chartered Accountants

ITC Limited Page 2 of 6

application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group and of its associates and joint ventures are responsible for assessing the ability of their respective companies to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates and joint ventures are also responsible for overseeing the financial reporting process of their respective companies.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its associates and joint ventures to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associates and joint ventures to cease to continue as a going concern.

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SR BC& CO LLP Chartered Accountants

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Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group and its associates and joint ventures of which we are the independent auditors and whose financial information we have audited, to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the Master Circular issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

Other Matter

The accompanying Statement includes the audited financial statements and other financial information, in respect of:

thirty-two subsidiaries, whose financial statements include total assets of Rs. 4,344.64 crores as at March 31, 2025, total revenues of Rs. 1,104.11 crores and Rs. 4,087.76 crores, total net profit after tax of Rs. 144.17 crores and Rs. 528.13 crores, total comprehensive income of Rs. 143.49 crores and Rs. 534.24 crores, for the quarter and the year ended on that date respectively, and net cash inflows of Rs. 62.04 crores for the year ended March 31, 2025, as considered in the Statement which have been audited by their respective independent auditors.
seven associates and two joint ventures, whose financial statements include Group's share of net loss of Rs. 4.43 crores and net profit of Rs. 7.58 crores and Group's share of total comprehensive loss of Rs. 13.65 crores and total comprehensive income of Rs. 4.04 crores for the quarter and for the year ended March 31, 2025 respectively, as considered in the Statement whose financial statements, other financial information have been audited by their respective independent auditors.

The independent auditor's report on the financial statements/financial information of these entities have been furnished to us by the Management and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, joint ventures and associates is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph above.

Certain of these subsidiaries are located outside India whose financial statements and other financial information have been prepared in accordance with the accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial statements of such subsidiaries located outside India from accounting prind13les --· generally accepted in their respective countries to accounting principles generally accepted in lndi /; C, & C 0 ({ 011r,ata \ I (J) ci8

--�

SR BC & CO LLP Chartered Accountants

ITC Limited Page 4 of6

We have audited these conversion adjustments made by the Holding Company's management. Our opinion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and audited by us.

The accompanying Statement includes unaudited financial statements and other unaudited financial information in respect of:

five subsidiaries, whose financial statements and other financial information reflect total revenues of Rs. 215.22 crores, total net loss after tax of Rs. 65.61 crores, total comprehensive income of Rs. 90.98 crores and net cash inflows of Rs. 49.10 crores, for the period from April 1, 2024 to December 31, 2024, whose financial statements and other financial information have not been audited by their auditors.
two associates and one joint venture, whose financial statements includes the Group's share of net profit of Rs. 11.35 crores and Group's share of total comprehensive income of Rs. 11.18 crores for the period from April 1, 2024 to December 31, 2024, as considered in the Statement whose financial statements and other financial information have not been audited by their auditors.

These unaudited financial statements/ financial information have been approved and furnished to us by the Management and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, joint ventures, and associates for the period April 1, 2024 to December 31, 2024 (Refer note 5 to these consolidated financial results), is based solely on such unaudited financial statements/ financial information. In our opinion and according to the information and explanations given to us by the Management, these financial statements/ financial information are not material to the Group. These financial statements / financial information were part of the consolidated financial statements of the Company for the nine months ended December 31, 2024 which were subjected to limited review by us.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the financial statements and other financial information certified by the Management.

The Statement includes the results for the quarter ended March 31, 2025 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2025 and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For S R B C & CO LLP Chartered Accountants ICAI Firm gistration Number: 324982E/E300003 . per Partner Membership No.: 89802 UDIN: 25089802BMNPUH5976 Place: Kolkata Date: May 22, 2025

SR BC& CO LLP Chartered Accountants

ITC Limited Page 5 of 6

Annexure-1 List of subsidiaries/associates/joint ventures Subsidiaries


S.No. 1	Name Russell Credit Limited Greenacre Holdings Limited
2
3 4 5 6		WelcomHotels Lanka (Private) Limited (till December 31, 2024) Technico Agri Sciences Limited
		Prag Agro Farm Limited Pavan Poplar Limited ITC lnfotech India Limited ITC lnftech Do Brasil L TDA. ITC lnfotech Limited, UK ITC lnfotech (USA), Inc. lndivate Inc.
7 8
9 10 11
12 13		ITC lnfotech GmbH ITC lnfotech France SAS ITC lnfotech Malaysia SDN. BHD. ITC lnftech de Mexico, S.A. de C.V.
14 15
16		ITC lnfotech Arabia Limited*
17 18 19 20 21 22 23 24 25 26 27 28 29 30		ITC lnfotech Italia s.r.l. Blazeclan Technologies Private Limited, India (w.e.f. October 01, 2024) Cloudlytics Technologies Private Limited, India (w.e.f. October 01, 2024) Blazeclan Technologies Pty. Limited, Australia (w.e.f. October 01, 2024) Blazeclan Technologies Limited, New Zealand (w.e.f. October 01, 2024) Blazeclan Americas Inc., USA (w.e.f. October 01, 2024) Blazeclan Technologies Pte. Limited, Singapore (w.e.f. October 01, 2024) Blazeclan Technologies SDN. BHD., Malaysia (w.e.f. October 01, 2024) Blazeclan Technologies Corporation, Philippines (w.e.f. October 01, 2024) Blazeclan Europe SRL., Belgium (w.e.f. October 01, 2024) Blazeclan Technologies LLC, USA (w.e.f. October 01, 2024) Blazeclan Technologies Inc., Canada (w.e.f. October 01, 2024) Landbase India Limited (till December 31, 2024) BayIslands Hotels Limited(till December 31,2024)
31 32 33 34 35 36 37 38	Technico Pty Limited Technico Technologies Inc. Technico Asia Holdings Pty Limited Technico Horticultural (Kunming) Co. Limited ITC Integrated Business Services Limited MRR Trading & Investment Company Limited Fortune Park Hotels Limited (till December 31, 2024) Gold Flake Corporation Limited Surya Nepal Private Limited
39
40 41		Surya Nepal Ventures Pvt. Ltd.* North East Nutrients Private Limited

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SR BC& CO LLP

Chartered Accountants

ITC Limited Page 6 of6

42	Wimco Limited
43	Srinivasa Resorts Limited (till December 31, 2024)
44	ITC lndiVision Limited
45	ITC Fibre Innovations Limited
46	ITC Hotels Limited(till December 31, 2024)

*Represents step-down subsidiaries

Associates	Associates
S. No.	Name Gujarat Hotels Limited (till December 31, 2024) International Travel House Limited (till December 31, 2024) ATC Limited # Divya Management Limited # AntrangFinance Limited #
1
2 3 4 5
6	Russell Investments Limited #
7 8 9 10	Delectable Technologies Private Limited Mother Sparsh Baby Care Private Limited Sproutlife Foods Private Limited ITC Hotels Limited(w.e.f. January01, 2025)

Represents associate of subsidiaries

Joint Ventures

	S. No.	Name
	1	Maharaja Heritage Resorts Limited (till December 31, 2024)
	2	Logix Developers Private Limited
	3	ITC Filtrona Limited•
• Joint venture of a subsidiary

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A End11ring Val11e

Annexure

SI. Particulars No.	SI. Particulars No.	Disclosures Appointment The Board of Directors of the Company at the meeting held today i.e., 22ndMay, 2025, approved, subject to the approval of the Members, the appointment of Messrs. S. N. Ananthasubramanian & Co., Company Secretaries (Firm Registration No. P1991 MH040400), as the Secretarial Auditors of the Company to conduct secretarial audit fr a period of five financial years commencing from the financial year 2025-26. Messrs. S. N. Ananthasubramanian & Co., a peer reviewed firm, was established in 1991 by Mr. S. N. Ananthasubramanian who has over 40 years of experience. The partnership firm has a team of experienced and qualified company secretaries led by five partners.
1. Reason for change 2. Date and term of appointment
3.	Brief Profile

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AI assistant

ITC Ltd — Annual Report 2025

60425_rns_2025-05-22_6ea29143-a7a5-4c9f-892b-929580318044.pdf

22[nd ] May, 2025

Audited Annual Financial Results, Dividend and other matters

1. Financial Results:

2. Final Dividend and Date of Annual General Meeting:

3. Other Maters:

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ITC Limited

Notes:

ITC LIMITED

ITC Limited

ITC Limited

Standalone Statement of Cash Flows for the year ended 31st March, 2025

Notes:

Endurtna Value ITC Limited Statement of Consolidated Financial Results for the Quarter and Twelve Months ended 31st March, 2025

Notes:

ITC LIMITED Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Twelve Months ended 31st March, 2025

ITC Limited

ITC limited

Notes:

Enduring Vuluc _f.**_ ITC Limited**

Note:

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of ITC Limited

Report on the audit of the Standalone Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Standalone Financial Results

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Other Matter

For S R B C & CO LLP

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of ITC Limited

Report on the audit of the Consolidated Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Consolidated Financial Results

SR BC & CO LLP Chartered Accountants

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Other Matter

SR BC & CO LLP Chartered Accountants

Annexure-1 List of subsidiaries/associates/joint ventures Subsidiaries

SR BC& CO LLP

Chartered Accountants

Represents associate of subsidiaries

Joint Ventures

Annexure

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ITC Ltd Annual Report 2025

Enduring Vuluc _f._ ITC Limited