ITC Ltd — Interim / Quarterly Report 2025

Aug 1, 2025

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1[st] August, 2025

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

Unaudited Financial Results - Media Statement and Presentation

Further to our letter dated 1[st] August, 2025 forwarding the Unaudited Financial Results of the Company for the Quarter ended 30[th] June, 2025, we now enclose a copy of the Media Statement issued by the Company and a presentation on the Company’s financial performance for the aforesaid period for information of the investors.

Yours faithfully, ITC Limited RAJENDRA Digitally signed by RAJENDRA KUMAR KUMAR SINGHI Date: 2025.08.01 SINGHI 17:33:14 +05'30' (R. K. Singhi) Executive Vice President & Company Secretary

Encl: as above.

FMCG  PAPERBOARDS & PACKAGING  AGRI-BUSINESS  INFORMATION TECHNOLOGY

Visit us at www.itcportal.com  Corporate Identity Number : L16005WB1910PLC001985  e-mail : enduringvalue@itc.in

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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

ITC Limited Virginia House 37 J. L. Nehru Road Kolkata, 700 071, India Tel.: 91 33 2288 9371 Fax: 91 33 2288 0655

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Media Statement

August 01, 2025

Financial Results for the Quarter ended 30[th] June, 2025

Highlights

Standalone

• Resilient performance amidst a challenging operating environment

• Strong growth in Gross Revenue; up 20% YoY driven by Cigarettes, Agri Business and FMCG ( ex Notebooks )

• EBITDA up 3% YoY; ex-Paper up 5% YoY.

Consolidated

• Strong performance by Group companies led by ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited

• Gross Revenue up 20% YoY ; PAT up 5% YoY .

• FMCG – Others Segment witnessed pick up in Revenue growth momentum; up 8.6% YoY exNotebooks

• Overall growth at 5.2% YoY; Notebooks industry continues to operate under deflationary conditions on account of low-priced paper imports and opportunistic play by local/regional players; Unseasonal rains during the quarter impact Beverages sales

• Staples, Biscuits, Dairy, Premium Personal Wash, Homecare and Agarbattis drive growth

• Premium portfolio and NewGen channels sustain their high growth trajectory

• Segment EBITDA margin up 50 bps on QoQ basis

  • Smart net revenue management and ongoing price-volume-value rebalancing & focused cost management initiatives amidst input price volatility

  • Commodity prices remain elevated YoY (edible oil, wheat, maida, cocoa, soap noodles etc.); Segment EBITDA margins at 9.4% (Q1FY25 11.3%; Q4FY25 8.9%)

• Sustained competitive levels of trade & marketing investments to support growth and market standing

• Digital-first & Organic portfolio clocking appx. Rs. 1000 cr. ARR[1] .

• Cigarettes Net Segment Revenue up 7.7% YoY

• Differentiated and premium offerings continue to perform well

• Market standing continues to be reinforced through strategic portfolio and market interventions with focus on competitive belts and to counter illicit trade

• Consumption of high cost leaf tobacco inventory weighs on margins; moderation in procurement prices witnessed in current crop cycle

• Agri Business Segment Revenue up 39% YoY driven by agri commodity trading opportunities & exports of Leaf Tobacco; Segment PBIT up 22% YoY

• Agile execution of trading opportunities leveraging multi-channel & digitally powered agri commodity sourcing network

• Geopolitical volatility and climate emergencies have led to concerns over food security and food inflation globally. To ensure India remains food secure & control inflation, Government has had to

1 Annual Revenue Runrate

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FMCG ⚫ PAPERBOARDS & PACKAGING ⚫ AGRI-BUSINESS ⚫ INFORMATION TECHNOLOGY

Visit us at www.itcportal.com ⚫ Corporate Identity Number : L16005WB1910PLC001985 ⚫ e-mail : enduringvalue@itc.in

impose trading restrictions on agri-commodities; in this context, stock limits on Wheat were reintroduced in June’25

• Crop development expertise, superior product quality and strong customer relationships drive growth in leaf tobacco exports

• Exports of Nicotine and Nicotine derivative products being progressively scaled up leveraging stateof-the-art[2] facility at Mysuru.

• Paperboards, Paper and Packaging Segment reflects impact of influx of low-priced supplies into global markets including India, elevated domestic wood prices and subdued realisations

• Segment Revenue up 7% YoY driven by higher volumes

• Specialty Papers segment witnessed robust growth driven by capacity augmentation in Décor paper

• Muted realisations and high wood prices continue to weigh on margins

• Strategic interventions continue to be made towards enhancing plantations, sharper product portfolio and thrust on structural cost management.

• Continued engagement with policy makers for introduction of suitable measures to safeguard domestic industry.

The macroeconomic fundamentals of the Indian economy remain resilient despite global headwinds marked by geo-political tensions, evolving trade policy dynamics and heightened uncertainty & volatility in the operating environment.

High frequency indicators for the quarter suggest mixed trends. Buoyancy in agriculture & service sector, moderating inflation and rural wage growth are some of the key positives; on the other hand, industrial growth, automobile sales, credit growth and electricity & fuel consumption remain subdued. Rural demand continued to demonstrate resilience; expectations of a normal monsoon and kharif crop sowing trends augur well for the rural economy. Early signs of recovery in urban consumption demand were visible during the quarter.

Lower inflation, reduction in interest rates & liquidity support by RBI, tax cuts announced in the recent Union Budget along with front loading of Government expenditure are expected to bolster the growth momentum going forward.

Amidst a challenging operating environment as stated above, the Company delivered resilient performance during the quarter. Gross Revenue[3] stood at Rs. 20,911 crores representing a robust growth of 20% YoY . PBT and PAT stood at Rs. 6,545 crores and Rs. 4,912 crores respectively. Earnings Per Share for the quarter stood at Rs. 3.93 (LY 3.86).

FMCG – OTHERS

• The FMCG Businesses witnessed pick-up in growth momentum; up 8.6% YoY ex Notebooks

• Overall growth at 5.2% YoY; Notebooks industry continues to operate under deflationary conditions due to low-priced paper imports and witness opportunistic play by local/regional competition; Beverages category was impacted by unseasonal rains during the quarter

• Staples, Biscuits, Dairy, Premium Personal Wash, Homecare and Agarbattis drive growth

• Segment EBITDA margin improved 50 bps QoQ. Prices of major commodities (viz. edible oil, wheat, maida, cocoa, soap noodles etc.) remain elevated on YoY basis, weighing on margins. The Businesses continued to mitigate the impact through focused cost management initiatives, portfolio premiumisation and calibrated pricing actions.

• Trade & marketing investments were sustained at competitive levels towards supporting growth and market standing.

2 Set up by the Company’s wholly owned subsidiary, ITC IndiVision Limited

3 Standalone Financials

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• Digital first & Organic portfolio, comprising the Yogabar, Mother Sparsh, Prasuma & Meatigo and 24 Mantra brands, continue their strong growth momentum clocking an ARR of appx. Rs. 1000 cr.

• NewGen channels (viz. e-Commerce, Quick Commerce, Modern Trade) witnessed robust growth on the back of sharp execution of channel-specific joint business plans, collaborations, format-based assortments and category-specific sell-out strategies.

• The Company’s deep & wide multi-channel distribution network, with tailored channel-specific assortments, continues to sharp target opportunity areas through superior product availability and visibility interventions. Focused investments continue to be made to enhance distribution infrastructure and drive penetration.

➢ Branded Packaged Foods Businesses

• ‘Aashirvaad’ Atta posted robust growth reinforcing its leadership position in the Branded Atta industry

• The value-added portfolio, consisting of Multigrain, Select and Sugar Release Control Atta posted healthy growth driven by superior value propositions. The portfolio was augmented with the launch of ‘Aashirvaad Boga Atta’ in Assam, designed to meet the culinary preferences of the region. ‘Aashirvaad Chakki’ Atta range (Premium Sehori, Sehori, Lokwan and Khapli atta), specially developed for Mumbai market, continues to garner excellent consumer response

• ‘Aashirvaad Vermicelli’, ‘Aashirvaad Rava’ (Suji Rava, Bansi Rava, Samba Rava), ‘Ready-to-Cook Chapati’, ‘Organic Atta’ and ‘Aashirvaad Soya Chunks’ sustained their high growth trajectory

• Value Added variants and Staples Adjacencies continue to scale up (~1.7x over 2 years).

• ‘Aashirvaad’ Salt posted robust growth in focus markets during the year, supported by its distinctive positioning of “Iodine Assured salt for a Smarter India”.

• ‘Sunfeast’ Biscuits and Cakes recorded strong performance during the quarter on the back of powerful brand propositions, differentiated offerings and strong consumer connect. The Business further strengthened its portfolio with the introduction of ‘Sunfeast Mom’s Magic Shines’ a crunchy, eight-layers offering, creating a distinct flaky and melt-in-mouth experience. The recently launched ‘Sunfeast Wowzers’ continued to elicit excellent consumer response and was extended to newer markets

• The ‘Sunfeast Dark Fantasy’ range of differentiated cookies continued to fortify its leadership position in the premium segment. Towards deepening consumer engagement, Dark Fantasy launched a captivating poem – ‘Fantasy Zaroori hai’, narrated by Shah Rukh Khan. The campaign, which celebrated the desire to escape the ordinary, widely resonated with consumers and garnered over 200 million views.

• ‘YiPPee!’ Noodles witnessed a marked improvement in growth trajectory, reinforcing its strong market standing amidst heightened competitive intensity. The Business continued to strengthen its portfolio through differentiated offerings catering to diverse consumer cohorts. The recently launched range of YiPPee! Korean Noodles continue to scale up amidst excellent consumer traction.

• ‘Bingo!’ Snacks continued to strengthen its product portfolio with the launch of exciting variants of snacks & namkeens. The Business reinforced its market leadership in the Bridges segment. Exploring India’s love for pickles with a unique twist, the Business launched ‘Bingo! Mad Angles Mystery Pickle’, made with premium corn and rice blend, which has received encouraging initial response.

• ‘Sunrise’ spices delivered robust growth during the quarter, strengthening its market standing in the core market of West Bengal while making significant gains in adjacent markets of Northeast, Bihar and Jharkhand. The portfolio was further augmented with new launches such as ‘Sunrise Shahi Paneer Masala’, ‘Sunrise Chicken Tikka Masala’ and ‘Sunrise Prawn Curry Masala’.

• The ‘ITC Master Chef’ range of Frozen foods continued to grow at an accelerated pace, powered by a range of delicious and innovative products catering to ‘any time’ snacking and meal occasions. The portfolio comprising of over 80 high quality and differentiated products across both traditional and NewGen channels is rapidly gaining consumer franchise.

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• In the Dairy category, ‘Aashirvaad Svasti’ fresh dairy portfolio comprising pouch milk, curd, lassi and paneer recorded strong growth on the back of best-in-class quality, differentiated products and superior taste profile. These products are currently available in Bihar, West Bengal and Jharkhand markets.

• ➢ In the Personal Care Products Business, ‘Fiama’ range of Personal Wash products and ‘Nimyle’ range of Homecare products recorded strong growth leveraging the rapidly growing NewGen channels. In Fragrances category, Business continued to strengthen its product portfolio with the launch of ‘Engage Double Power Deo’ comprising 3 innovative variants. The recently launched ‘Fiama Moisturising Bars with Japanese Hokkaido Milk’ continue to gain robust consumer traction.

• ➢ The Education and Stationery Products Business continued to witness heightened competitive intensity especially from regional/local players on the back of sharp reduction in paper prices as a result of low-priced paper imports. Against this backdrop, ‘Classmate’ Notebooks sustained its leadership position through continued focus on portfolio premiumisation and innovation. During the quarter, Classmate concluded the third edition of its ‘Classmate All Rounder’ program, a national multi-skill competition for school students. This edition saw participation from over 1.9 lakh students across 700+ schools in 14 cities, demonstrating strong resonance with Classmate’s vision of empowering students through enjoyable, well-rounded learning.

• ➢ ‘Mangaldeep’ Agarbattis and Dhoop recorded strong growth during the quarter leveraging a range of differentiated products backed by sustained & impactful communication of brand attributes, execution of channel-led trade inputs and retail distribution drives. The Mangaldeep range of Incense sticks and Dhoop was augmented with exciting new launches such as Mangaldeep Flora Agarbatti with novel fragrances of Oriental Lily & Japanese Blossom, and Dry Dhoop cones – an innovative new bambooless format for select markets. These new launches are eliciting encouraging consumer response.

FMCG – CIGARETTES

Net Segment Revenue up 7.7% YoY; Segment PBIT up 3.7% YoY

• Strategic portfolio and market interventions with focus on competitive belts and to counter illicit trade, drive volume-led growth and reinforce market standing.

• Differentiated variants and premium segment continue to perform well leveraging mainstream trademarks & innovation

• Agile last mile execution leveraging deep and wide distribution network.

• Consumption of high-cost leaf inventory weighed on margins; partly mitigated through product mix enrichment and cost management interventions

• Moderation in leaf tobacco procurement prices witnessed in current crop cycle.

• As seen in the past, stability in taxes on cigarettes, backed by deterrent actions by enforcement agencies, enables volume recovery for the legal cigarette industry from illicit trade leading to higher demand for Indian tobaccos and bolstering revenue to the exchequer from the tobacco sector. The recent amendment to the Central Goods and Services Tax Act, 2017, to include an enabling provision for implementing ‘Track and Trace’ mechanism, is also expected to strengthen the efforts of enforcement agencies towards controlling illicit cigarette trade.

AGRI BUSINESS

Agri Business Segment Revenue up 39% YoY driven by trading opportunities in Bulk commodities & exports of Leaf Tobacco; Segment PBIT up 22% YoY

• Revenue growth driven by agile execution of trading opportunities in bulk commodities leveraging multi-channel & digitally powered agri commodity sourcing network

• Leaf Tobacco exports also posted strong growth; Business continues to leverage its crop development expertise, superior product quality, and strong customer relationships.

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• The Business continued to focus on scaling up Value-added agri portfolio (e.g. Aqua, Spices, Coffee); 2.2x over the last 4 years.

• Commercial sales from state-of-the-art facility to manufacture and export Nicotine & Nicotine derivative products set up by the Company’s wholly owned subsidiary, ITC IndiVision Limited, have progressively scaled up during the quarter.

• The Business continued to provide strategic sourcing support with traceability to the Branded Packaged Foods and Agri Businesses with sharply aligned procurement strategies in line with category-relevant market dynamics. Direct sourcing from FPOs through ITCMAARS (Metamarket for Advanced Agriculture and Rural Services) – a crop-agnostic ‘phygital’ full stack AgriTech platform, has now scaled up to about 40% of the wheat sourced for Aashirvaad Atta and Agri Business, leading to significant procurement related efficiencies and quality enhancement.

PAPERBOARDS, PAPER & PACKAGING

The operating environment remained challenging during the quarter, with sustained influx of low-priced supplies into global markets including India, elevated domestic wood prices and subdued realisations

• Segment Revenue grew 7% YoY

• Specialty Papers segment witnessed robust growth driven by capacity augmentation in Décor segment

• The Business continued its sharp focus on portfolio augmentation and structural cost management to mitigate near term challenges.

• The Business continues to focus on accelerating plantations in core areas, developing new areas, collaborating with other wood-based industries and implementing satellite-based plantation monitoring systems, among others. Representations continue to be made at appropriate forums for introduction of trade remedies to safeguard domestic industry.

• The Packaging and Printing Business witnessed signs of gradual uptick in domestic demand. The Business continues to focus on accelerating new business development, offering innovative and customised solutions.

• The sustainable paperboards/packaging solutions portfolio continues to witness strong growth leveraging cutting-edge innovation platforms and has grown to 3x in last 4 years.

• Structural advantages of the integrated business model, Industry 4.0 initiatives, strategic investments in High Pressure Recovery Boiler and proactive capacity augmentation in Value Added Paperboards aided in partly mitigating pressure on margins.

FoodTech Business

FoodTech Business, a new vector of growth envisioned in the ITC Next strategy, leverages the Company’s institutional strengths in Foods Science & Manufacturing, FMCG Food brands and Culinary expertise to tap into the fast-growing online food services segment

• A delectable range of cuisines is today being offered under 4 brands - ‘ ITC Master Chef Creations’ , ‘ ITC Aashirvaad Soul Creations’ , ‘ ITC Sunfeast Baked Creations ’ and ‘ Sansho by ITC Master Chef ’.

• The initiative has scaled up rapidly in a capital-efficient manner since inception, setting new benchmarks in culinary innovation and tech-enabled operations; GMV crossed Rs. 100 cr. in FY25.

• The full-stack food-tech platform has already scaled up to appx. 60 cloud kitchens across 5 cities and is now being progressively introduced across India.

CONTRIBUTION TO SUSTAINABLE DEVELOPMENT

ITC is a global exemplar in ‘Triple Bottom Line’ performance and is the only enterprise in the world of comparable dimensions to have achieved and sustained the three key global indices of environmental

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sustainability of being ‘water positive’ (for 23 years), ‘carbon positive’ (for 20 years), and ‘solid waste recycling positive’ (for 18 years) . The Company sustained its ‘AA’ rating by MSCI-ESG for the 7[th] successive year - the highest amongst global tobacco companies. The Company has also been included in the Dow Jones Sustainability Emerging Markets Index for the fifth year in a row - a reflection of being a sustainability leader in the industry and a recognition of its continued commitment to people and planet. The Company continued to be part of the prestigious ‘ A List ’ for CDP Water by achieving the highest ‘ A ’ rating ‘ Leadership Level ’. For CDP Climate , the Company retained ‘ Leadership Level ’ score of ‘ A - ’

The Company’s infrastructure facilities continue to set new benchmarks of sustainability. Till date, 9 units of the Company have achieved Platinum level certification under the AWS Standard.

The Sustainability Report 2025 is available on the Company’s corporate website at - - - - - - https://www.itcportal.com/sustainability/itc sustainability report 2025/itc sustainability report 2025.pdf

Please refer link below for performance highlights of the quarter: https://www.itcportal.com/investor/pdf/ITC-Quarterly-Result-Presentation-Q1-FY2026.pdf

The Board of Directors, at its meeting on 1[st] August 2025, approved the financial results for the quarter ended 30[th] June 2025, which are enclosed.

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(Nazeeb Arif)

Executive Vice President Corporate Communications

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Q1 FY26 Results

01[st] August, 2025

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Forward-Looking Statements

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This presentation contains certain forward-looking statements including those describing the Company’s strategies, strategic direction, objectives, future prospects, estimates etc. Investors are cautioned that “forward looking statements” are based on certain assumptions of future events over which the Company exercises no control. Therefore there can be no as to their and readers are advised not to undue reliance on these guarantee accuracy place any forward looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These statements involve a number of risks, uncertainties and other factors that could cause actual results or positions to differ materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but are not limited to: growth, competition, acquisitions, domestic and international economic conditions affecting demand, supply and price conditions in the various businesses in the Company’s portfolio, changes in Government regulations, tax regimes and other statutes, and the ability to attract and retain high quality human resource.

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Macro Economic Context

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Macro Economic Environment

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Global growth slowdown | Heightened Uncertainty
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Real GDP Growth YoY

▪ Global GDP growth remains below trend

• Heightened uncertainty around evolving trade policy dynamics

• Geopolitical & Climate risks – key watchouts

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India remains resilient
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Real GDP Growth YoY

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9.2
7.6
6.5 6.5
FY23 FY24 FY25E FY26P
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▪ FY26 GDP expected to grow by 6.5% (similar level in FY25)

• Macro fundamentals resilient

• Rural demand resilient; early signs of recovery in Urban demand

• High frequency indicators - mixed trends

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Source : IMF WEO Jul’25, MOSPI, RBI

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High Frequency Indicators – Mixed Trends

Moderation in Inflation (Quarterly Average, yoy%)

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Uptick in Services PMI (Index)
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Real Rural wages pick up (YoY%)

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64.0
62.0
60.4
60.0
58.0
56.0
54.0
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Source: MOSPI

Source: Labour Bureau, CMIE

Source: HSBC

Slowing Bank credit growth (YoY%)

Tepid Passenger Vehicle Sales (YoY%)

Industrial production subdued (yoy%)

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12.0
11.4
14.0
IIP Eight Core
12.0 FY25 FY26
8.0
10.0
4.9
8.0 4.0
6.0
0.0
4.0
2.0
-4.0
0.0
-6.3
-8.0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
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Source: RBI, CMIE

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Source: SIAM
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Source: MOSPI

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India Macro

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Key Key
Positives Monitorables
Stable growth Moderating Urban demand Credit Growth
outlook Inflation recovery
Frontloaded
Strong Bank & External
Kharif sowing Fiscal & Commodity
Corporate Account
trends Monetary price volatility
Balance Sheets CAD | BoP | INR
measures
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Heightened
Uncertainty
Geopolitical
disruptions
Trade tariffs
Climate change
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Q1 FY26 Results Headline Financials & Business Highlights

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Key Highlights: Q1 FY26

Standalone

Gross Revenue EBITDA +20% +3% Ex paper up 5% Resilient performance amidst a challenging operating environment

Consolidated

Gross Revenue PAT +20% +5%

Strong performance by major Group companies (Surya Nepal, ITC Infotech, ITC Hotels)

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Key Highlights

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• FMCG – Others Segment witnessed pick up in Revenue growth momentum; up 8.6% YoY ex-Notebooks

• Overall growth at 5.2% YoY; Notebooks industry continues to operate under deflationary conditions (low-priced paper imports) & opportunistic play by local/regional players; Unseasonal rains during the quarter impacted Beverages sales

• Staples, Biscuits, Dairy, Premium Personal Wash, Homecare and Agarbatti drive growth

• Premium portfolio & NewGen channels sustain their high growth trajectory

• Segment EBITDA margins up 50 bps on QoQ basis

  • Smart net revenue management & focused cost management initiatives amidst input price volatility

  • Commodity prices remain elevated YoY (edible oil, wheat, maida, cocoa, soap noodles etc.); Segment EBITDA margins at 9.4% (Q1FY25 11.3%; Q4FY25 8.9%)

• Sustained competitive levels of trade & marketing investments to support growth and market standing

Digital First & Organic portfolio clocking appx. Rs. 1000 cr. ARR ^

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Digital first (Yogabar, Mother Sparsh and Prasuma & Meatigo) & Organic (24 Mantra)

^ Annual Revenue Runrate

Key Highlights

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▪ Cigarettes Net Segment Revenue up 7.7% YoY

• Differentiated & premium offerings continue to perform well

• Market standing continues to be reinforced through strategic portfolio & market interventions with focus on competitive belts & to counter illicit trade

• Underlying business performance remains resilient; reported YoY growth reflects, inter alia, the impact of high cost leaf tobacco inventory consumption in current quarter

  • Moderation in leaf tobacco procurement prices witnessed in current crop cycle

• Agri Business Segment Revenue up 39% YoY driven by agri commodity trading opportunities & exports of Leaf Tobacco; Segment PBIT up 22% YoY

• Agile execution of trading opportunities leveraging multi-channel & digitally powered agri commodity sourcing network

• Geopolitical volatility & climate emergencies have led to concerns on food security and food inflation; stock limits on Wheat re-introduced in June’25

• Crop development expertise, superior product quality & strong customer relationships drive growth in leaf tobacco exports

• Exports of Nicotine & Nicotine derivate products being progressively scaled up

| 10 |

Key Highlights

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▪ Paperboards, Paper and Packaging Segment reflects impact of sustained influx of low-priced supplies into global markets including India, elevated domestic wood prices and subdued realisations

• Segment Revenue up 7% YoY driven by higher volumes

• Specialty Papers segment witnessed robust growth driven by capacity augmentation in Décor paper

• Muted realisations and high wood prices continue to weigh on margins

• Strategic interventions continue to be made towards enhancing plantations, sharper product portfolio and thrust on structural cost management

• Continued engagement with policy makers for introduction of trade remedies to safeguard domestic industry

| 11 |

ITC Next Strategy

Future Tech | Consumer Centric | Climate Positive | Inclusive

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Multiple Drivers Innovation and Supply Chain Digital Sustainability Cost Agility &
of Growth R&D 2.0 Productivity
Agile Agile
Responsible Structural
Digital first culture
Future Ready
Purposeful Resilient Competitiveness interventions
Portfolio Smart Eco System
Science based Efficient Bolder ambition across value chain
platforms
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ITC Synergy

World-Class Talent | Proneurial Spirit | High Performance culture

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FMCG Cigarettes

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FMCG Cigarettes – Q1 FY26

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Strong volume led revenue growth

• Net Segment Revenue* up 7.7% YoY

Segment Revenue 8520 cr. 7.6%

• Strategic portfolio and market interventions with focus on competitive belts and to counter illicit trade, drive volume-led growth and reinforce market standing

Premium segment & new innovations continue to gain robust traction

Segment Results

• Consumption of high-cost leaf inventory weighs on margins; partly mitigated through product mix enrichment and cost management interventions

Moderation in leaf tobacco procurement prices witnessed in current crop cycle

5145 cr. 3.7%

• Union Budget 2025: amendments to CGST Act enabling a Track and Trace mechanism → strengthen efforts to control illicit trade

Taxation stability → Volume recovery from illicit trade + Revenue buoyancy

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*Net of Excise Duty/NCCD on Sales

FMCG Cigarettes

Innovation

• Classic Connect

• American Club Clove Mint

• Gold Flake Indie Mint

Reinforcing market standing

Portfolio Fortification

• Scissors

• Flake Spl

• Silk Cut Red

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Recent Introductions

• Classic Clove

• • Classic Icon

• • Gold Flake SLK Range

• • Classic Icon • Gold Flake Nova `

• • Gold Flake Social Red • American Club Just Clove

• • Gold Flake Social 2-Pod • American Club Super Slims

• • Gold Flake Indie Clove • Player’s Aromix

• Flake Insta Fresh

• • Scissors Super Mix

• • Capstan Clove

• • Flight

• • Wave Boss

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FMCG Others

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FMCG Others – Q1 FY26

Pickup in Revenue growth momentum

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▪ FMCG Businesses witnessed pick up in growth momentum ; up 8.6% YoY ex-Notebooks

• Overall growth at 5.2% YoY; Notebooks industry continues to operate under deflationary conditions due to low-priced paper imports & opportunistic play by local/regional competition; Beverages category impacted by unseasonal rains during the quarter

• Staples, Biscuits, Dairy, Premium Personal Wash, Homecare & Agarbatti drive growth

• Premium portfolio & NewGen channels sustain their high growth trajectory

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Revenue
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Digital first + Organic portfolio

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ARR @ ~1,000 cr.
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Digital first ( Yogabar, Mother Sparsh and Prasuma & Meatigo ) & Organic (24 Mantra)

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FMCG Others

Sequential improvement in margins

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▪ Segment EBITDA margin up 50 bps QoQ

• Prices of major commodities (viz edible oil, wheat, maida, cocoa, soap noodles etc.) remain elevated on YoY basis

• Businesses continued to mitigate impact through focused cost management initiatives, premiumisation & calibrated pricing actions

• Trade & marketing investments sustained at competitive levels to support growth and market standing

• Smart net revenue management & ongoing price-volume-value rebalancing

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+50 bps QoQ
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Future-Ready Portfolio

Recent Launches

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Fortifying the Core
Sunfeast! Mom’s Magic
Shines
Sunrise Spices
Aashirvaad Bingo! Mad Angles Engage Double Power
Shahi Paneer
Mate & Urge
Boga Atta Mystery Pickle
Chicken Tikka
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Addressing Adjacencies

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Aashirvaad
Ready to cook
Malabar Parota
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Aashirvaad
Svasti Milk
Creamy Rich
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YiPPee!
Cheese Pasta
Masala Classmate Octane
Geometry Box
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Aashirvaad
Soya Chunks
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Pranah Incense Sticks Soma | Palo Santo & white saga |Suryakriya

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ITC Master Chef
Sabudana Tikki
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Right Shift Millet Masala
Oats
Tangy Tomato
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New Growth Vectors

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Sunfeast Fantastik Choco Meltz

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B Natural

Coconut Water with Litchi No Added Sugar Guava

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Future-Ready Portfolio

Digital + Organic

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Deepening consumer engagement

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Clutter breaking communication

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Sharpening Value Proposition

Impactful Brand Collabs

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Agri Business

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Agri Business – Q1 FY26

Segment Revenue up 39% YoY driven by

Bulk Commodities & exports of Leaf Tobacco

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• Agile execution of trading opportunities leveraging multi-model agri commodity sourcing network

Segment Revenue 9685 cr. 38.9%

• Strong growth in Leaf tobacco exports → crop development expertise, superior product quality & strong customer relationships

• Continued focus on scaling up Value-added agri portfolio (e.g. Aqua, Spices, Coffee)

• Strategic sourcing support for Foods & Cigarettes Businesses

Segment Results 434 cr. 21.9%

• Nicotine project^ update: Progressive scale up in exports of Nicotine & Nicotine derivate products leveraging state-of-the-art facility at Mysuru

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Spices facility, GuntuIIVL facility, Myso r e
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Value Added Agri Products

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640 2.2x
590
540
490440 1.4x
390
340 1.0xx
290
240
190
Q1 FY22 Q1 FY24 Q1 FY26
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^ITC IndiVision Limited (IIVL), the Company’s wholly owned subsidiary

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Paperboards, Paper & Packaging

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Paperboards, Paper & Packaging – Q1 FY26

Resilient performance amidst a challenging operating environment

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Segment Revenue 2116 cr. 7.0%

• Low-priced supplies into global markets including India, subdued realisations and elevated wood prices continue to impact Industry performance

• Décor segment continues to deliver strong growth

Segment Results 163 cr. 37.8%

Rapid scale up of Sustainable products

• Sustainable paperboards/packaging solutions portfolio continues to witness strong growth leveraging cutting-edge innovation platforms; grown over 3x in last 4 years

• ▪ Key Interventions:

• Representations for introducing trade remedies to safeguard domestic industry | Sharper product portfolio | Strategic cost management

• Focus on accelerating plantations, developing new areas, satellite-based monitoring

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FoodTech Business

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FoodTech Business – Q1 FY26

Full-stack platform | Strong brands | Diverse cuisine

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▪ New vector of growth envisioned in the ITC Next strategy

GMV in FY25 >Rs. 100 cr.

• Leverages ITC’s institutional strength in Food Science & Manufacturing, FMCG Food brands and culinary expertise

• Incubated over past few years, has scaled up rapidly

South & ~60 West kitchens 5 cities

• Full-stack FoodTech platform → scaled up to appx. 60 cloud kitchens across 5 cities

• Setting new benchmarks in culinary innovation & tech-enabled operations

• Being progressively introduced across India

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Note: Performance being reported in ‘Others’ segment w.e.f Q1 FY26

FoodTech

Strong Brands | Diverse Cuisines

Full Stack Platform

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North Indian World of Bakery Pan Asian
Authentic Taste, Gourmet
Master Chef Recipes
Home-style Recipes, Global formats, adapted Gourmet Chinese,
Wholesome & Pure Veg for Indian Palate Thai & more!
Comfort Indulgent
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Comfort
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Financials

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Key Financials - Standalone

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Q
Rs. Cr. 2 Q1 FY26 Q1 FY25 GOLY
P
Gross Revenue 20,911 17,457 19.8%
Net Revenue 19,624 16,252 20.7%
EBITDA 6,261 6,087 2.9%
PBT 6,545 6,422 1.9%
PAT 4,912 4,820 1.9%
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ex Paper up 5% YoY

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Key Financials – Consolidated

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Rs. Cr. Q1 FY26 Q1 FY25 GOLY
Gross Revenue 23,007 19,239 19.6%
EBITDA 6,816 6,545 4.2%
PBT 7,128 6,819 4.5%
PAT 5,343 5,092 4.9%
Total Comprehensive Income 5,557 4,943 12.4%
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ex Paper up 6% YoY

Strong performance by Group companies led by ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited

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Segment Revenue

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		Q1		•	FMCG Others
Rs. cr.	FY26	FY25	YoY growth		- Pick up in Revenue growth momentum - up 8.6% YoY excl. Notebooks
Segment Revenue					- Notebooks industry witnessing deflationary conditions /
a) FMCG - Cigarettes - Others	8520 5777	7918 5491	7.6% 5.2%		local competition (low-priced paper imports); unseasonal rains during the quarter impacted Beverages sales
Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others	14297 9685 2116 68	13409 6973 1977 33	6.6% 38.9% 7.0% 106.5%		- Staples, Biscuits, Dairy, Premium Personal Wash, Homecare & Agarbatti drive growth - Strong performance continues in premium portfolio & emerging channels
Total	26166	22392	16.9%	•	Agri Business
Less : Inter Segment Revenue	5255	4935	6.5%		Strong growth in bulk commoditiess & exports of Leaf
Gross Revenue from sale of products and services	20911	17457	19.8%	•	Tobacco Paperboards, Paper & Packaging

• Others Segment includes ITC Grand Central Hotel, Mumbai (managed by ITC Hotels Ltd.) and FoodTech Business

• Influx of low-priced supplies into global markets (incl. India) & subdued realisations

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Standalone Financials

Segment Results

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	Q1	Q1	Q1	• Cigarettes ‒ Underlying business performance remains resilient; reported YoY growth reflects, inter alia, the impact of high cost leaf tobacco inventory consumption in current quarter; moderation in leaf tobacco procurement prices witnessed in current crop cycle • FMCG Others ‒ Sequential improvement in Segment EBITDA margins (+50 bps) ‒ Segment EBITDA ↓12% YoY ‒ Commodity prices remain elevated YoY (edible oil, wheat, maida, cocoa, soap noodles) • Paper - Influx of low-priced supplies into global markets (incl. India)→subdued realisation + steep increase in
Rs. cr.	FY26	FY25	YoY growth
Segment Results a) FMCG - Cigarettes - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less : i) Finance Cost ii) Other un-allocable (income) net of un-allocable expenditure iii)Exceptional items		4960 476	3.7% -16.5%
	5145
	397
	5543	5435	2.0%
	434	356 261 12	21.9% -37.8% -156.8%
	163
	-7
	6133	6064	1.1%
	13	8 (366)
	(425)
Profit Before Tax	6545	6422	1.9%

• Influx of low-priced supplies into global markets (incl. India) → subdued realisation + steep increase in domestic wood prices weigh on margins

• Others Segment includes ITC Grand Central Hotel, Mumbai (managed by ITC Hotels Ltd.) and FoodTech Business

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Standalone Financials

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ITC – A Global Exemplar in Sustainability

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Impactful Social Performance

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Off-farm livelihood diversification – Livestock Development Over 23.2 lac milch animals covered

On-farm livelihood diversification – Afforestation Over 13.3 lac acres Greened

Natural Resources Management – Water Stewardship Over 18.35 lac acres covered

ITC e-Choupal 4 Million Farmers empowered

Climate Smart Agriculture^ Over 31.7 lac acres covered

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Support to Education Reaching over 23.4 lac Children

Skilling of Youth Skilled over 1.29 lac youth

Mother & Child Health and Nutrition^ 15.24 lac community members covered

Solid Waste Management Around 17 million households covered across programmes

Women Empowerment Over 4.51 lac women covered

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^figures updated till Q1 FY26

Sustainability 2.0

REDUCE I RECYCLE I RESTORE

Sustainability Targets 2030 Raising the Bar

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Strategic Interventions to Combat Climate Change

De-Carbonization Climate Adaptation and Resilience Building Green Circularity Infrastructure Inclusive Value Nature based solutions Chains

Renewable Specific GHG Recyclable Plastic Plastic Energy Emissions Packaging Neutrality 100% 50% 50% 100% Collection since FY22 Water Security for All Biodiversity & Agriculture million 5x of ITC’s Net 1 Biodiversity acres Conservation Consumption million 4 acres Climate Smart Agriculture AWS Certification for High Water Stressed Sites 1.5 million Social Farm and by 2035 acres Forestry

Proactively work towards achieving ‘Net Zero Operations’ emission status

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Supporting Sustainable Livelihoods: From 6 million to 10 million
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Sustainability – Highlights

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• Comprehensive policies & guidelines institutionalised

• 9 ITC Units have received AWS (Alliance for Water Stewardship) Platinum certification

• ~52% energy from renewable sources

• Maintained Plastic Neutrality - ~76,000 MT of plastic waste managed in FY25

• Approx. 800 suppliers, including 100% critical tier-1 suppliers, trained and ~70% critical tier-1 suppliers assessed on ESG aspect

• Water +ve (for 23 years) , Carbon +ve (for 20 years) , and Solid waste recycling +ve (for 18 years)

• World class ESG credentials – MSCI, CDP, DJSI

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Sustained ‘AA’ rating 7 years in a row

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Included in the Dow Jones Sustainability Emerging Markets Index

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CDP Water

Continues to be part of the prestigious ‘A List’

CDP Climate Retained ‘Leadership Level’ score of ‘A -’

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ITC: Enduring Value

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A passion for Profitable growth...

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in a way that is Sustainable…

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and Inclusive.

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Links

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Product/initiative	Link
Bingo! on Instagram	https://www.instagram.com/bingo_snacks/
YiPPee! on Instagram	https://www.instagram.com/sunfeast_yippee/
Aashirvaad on Instagram	https://www.instagram.com/aashirvaad/
Sunfeast Dark Fantasy on Instagram	https://www.instagram.com/sunfeastdarkfantasy/
Mom’s Magic on Instagram	https://instagram.com/sfmomsmagic/
Classmate on Instagram	https://instagram.com/classmatebyitc/
ITC : Abiding Commitment to Nation-Building	https://youtu.be/oP8d-Q8AD1w
Details on the Company’s Sustainability 2.0 vision	https://www.itcportal.com/sustainability/itc-sustainability-report-2025/itc- sustainability-report-2025.pdf
Quarterly Media Statement	https://www.itcportal.com/investor/pdf/ITC-Press-Release-Q1-FY2026.pdf

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