ITC Ltd — Interim / Quarterly Report 2026

Jan 29, 2026

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29[th] January, 2026

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

Dear Sirs,

Unaudited Financial Results - Media Statement and Presentation

Further to our letter dated 29[th] January, 2026 forwarding the Unaudited Financial Results of the Company for the Quarter and Nine Months ended 31[st] December, 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: 2026.01.29 SINGHI 18:45:59 +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

January 29, 2026

Financial Results for the Quarter ended 31[st] December, 2025

Highlights

• Board recommends Interim Dividend of Rs. 6.50 per share for the Financial Year ending 31[st] March, 2026

Consolidated

• Gross Revenue up 7.1% YoY, driven by double-digit revenue growth in FMCG-Others (+12.6%) and sustained momentum in Cigarettes business (+8.2%)

• PBT (bei[1] ) up 8.8% YoY; PAT (bei) up 9.9% YoY

• Robust performance by Group entities - ITC Infotech India Ltd., Surya Nepal Pvt. Ltd. and ITC Hotels Ltd.

Standalone

• Gross Revenue up 6.3% YoY

• Overall EBITDA up 7.6% YoY (ex-Paper up 8.3% YoY); EBITDA Margin at 35.1% up 50 bps YoY

• PAT (bei) up 6.8% YoY

Performance Commentary[2]

• FMCG-Others delivers robust performance - Double-digit Revenue growth (up 11% YoY) along with EBITDA margin expansion (up 145 bps YoY)

• Broad-based growth across categories viz. Staples, Biscuits, Noodles, Dairy, Premium Personal wash, Homecare & Agarbattis

• Incipient signs of recovery in Notebooks amidst continued low-priced paper imports and opportunistic play by local/regional players

• Strong performance continues in premium portfolio and NewGen channels; Digital-first & Organic portfolio sustains its high growth trajectory, up 60% YoY.

• Segment PBIT up 42% YoY

• Sustained volume-led growth momentum in Cigarettes Business; Net Segment Revenue up 7.9% YoY - Strong performance in differentiated and premium offerings, leveraging mainstream trademarks & innovation

• Continued focus on strategic portfolio and market interventions to reinforce market standing and counter illicit trade

• Leaf Tobacco consumption cost remains elevated; moderation in procurement prices witnessed in current crop cycle

• Unprecedented increase in cigarette taxes w.e.f. 1[st] Feb 2026

  • Punitive taxes on the legal cigarette industry in earlier years have resulted in rapid growth of illicit cigarette trade, making India the 4[th] largest illicit cigarette market globally according to Euromonitor estimates. It is estimated that illicit cigarette trade causes a loss of appx. Rs.

1 before exceptional items

2 For Standalone results

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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

23,000 cr. p.a. to the Exchequer and accounting for about 1/3[rd] of the legal industry. It is pertinent to note that illicit trade tends to get embedded in the ecosystem, posing serious challenges to public health and law enforcement; this is borne out by past experience in India and in other regions with high tax incidence.

• Stability in taxes on cigarettes along with deterrent actions by enforcement agencies in recent years checked the growth of illicit industry and enabled volume recovery for the legal cigarette industry, leading to higher demand for Indian tobaccos and bolstering revenue to the exchequer from the tobacco sector.

• The changes in GST and Excise Duty rates announced recently, have led to an unprecedented increase in tax incidence on cigarettes. Such a steep increase will provide further impetus to illicit trade and cause immense hardship and loss to millions of farmers, MSMEs, retailers, local value chains nurtured by the industry and the Exchequer.

• The legal cigarette industry continues to engage with policymakers for a framework of pragmatic, equitable, non-discriminatory, evidence-based regulations and taxation policies that balance the economic imperatives of the country and tobacco control objectives, cognising for the unique tobacco consumption pattern in India.

**

• Agri Business Segment Revenue up 6.3% YoY led by Value Added Agri products & Leaf Tobacco

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

• Robust growth in Value Added Agri products (VAAP) driven by aqua and coffee; the strategic focus of the Business continues to be on accelerating growth by rapidly scaling up its VAAP portfolio, straddling multiple value chains comprising Spices, Coffee, Frozen Marine Products and Processed Fruits, amongst others.

• Continued improvement in operating performance of Paper Segment; underlying profits up 19% QoQ and 11% YoY

• Performance includes impact of planned shutdown for maintenance of High Pressure Recovery Boiler & Paper machines; reported profits up 3.6% QoQ, margins up 40 bps

• Overall Industry remains impacted by low-priced imports, high wood prices & subdued realisations

  • Minimum Import Price (MIP) has been imposed on Virgin Multi-layer Paperboard, effective 22[nd] August’25; green shoots of improvement in net realisations during the quarter

  • Proactive interventions by the Business over the past few years have led to improved wood availability; however, during the quarter, higher wood availability was partly offset by severe cyclones in harvesting season, keeping wood prices elevated; prices are expected to moderate going forward

• Industry continues to represent to policy makers for extension of MIP and sustained safeguard measures in respect of low-priced imports of paperboards and coated/uncoated paper.

• Robust growth in Packaging and Printing Business driven by both Flexibles and Cartons portfolio.

The Indian economy grew by 8.2% YoY in real terms during Q2FY26, reflecting its strong macroeconomic fundamentals amidst rising geopolitical tensions, evolving trade dynamics, and heightened uncertainty & volatility.

Benign inflation, resilient rural demand and acceleration in credit growth were some of the key positives during the quarter. The Indian Rupee, however, remained under pressure during the quarter due to sustained FII capital outflows and elevated Trade Deficit.

Reduction in interest rates & liquidity support by RBI, lower inflation, income tax cuts along with front loading of Government expenditure, reduction in GST rates across a wide range of products and the IndiaEU Free Trade Agreement augur well for economic growth. Further, these measures are expected to enhance consumer affordability, revitalise small and medium enterprises, stimulate a virtuous cycle of economic growth, and accelerate the Nation’s journey to ‘Viksit Bharat’.

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The Company delivered strong performance during the quarter, Gross Revenue[3] stood at Rs. 19,200 crores, while PBT(bei) stood at Rs. 6,959 crores. Earnings Per Share for the quarter, after taking into account exceptional items (Rs. 274 crores) stood at Rs. 4.06.

FMCG – OTHERS

• The FMCG Businesses deliver robust performance - Double-digit Revenue growth (up 11% YoY) along with EBITDA margin expansion (up 145 bps YoY)

• Broad-based growth across categories viz. Staples, Biscuits, Noodles, Dairy, Premium Personal wash, Homecare & Agarbattis

• Calibrated pricing actions, premiumisation, and focused cost management initiatives drive margin expansion

  • Prices of major commodities (viz. edible oil, wheat, maida, cocoa, soap noodles etc.) were largely stable during the quarter, while remaining elevated on YoY basis

• Segment PBIT up 42% YoY

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

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

• Strong growth momentum continues in the Digital first & Organic portfolio, comprising the Yogabar, Mother Sparsh, Prasuma and 24 Mantra brands; up 60% YoY.

➢ Branded Packaged Foods Businesses

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

• Value-added variants and Staples adjacencies continue to scale up (~1.7x over 2 years) and now comprise over 16% of Aashirvaad Staples portfolio

• ‘Aashirvaad High Protein Atta’, made with a thoughtfully selected blend of Wheat, Soya, Bengal gram and Oats, continued to garner customer traction

• ‘Aashirvaad Vermicelli’, ‘Aashirvaad Rava’, ‘Ready-to-Cook Chapati’, ‘Organic Atta’ and ‘Aashirvaad Soya Chunks’ sustained their high growth trajectory.

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

• ‘Sunfeast’ Biscuits and Cakes recorded robust growth during the quarter on the back of powerful brand propositions, differentiated offerings and strong consumer connect. The ‘Sunfeast Mom’s Magic’ range of differentiated cookies was augmented with the launch of 2 exciting bakery variants: ‘Choco Walnut’ and ‘Fruit & Nut’. The recently launched ‘Sunfeast Mom’s Magic Shines’ continued to elicit excellent consumer response and was extended to newer markets.

• ‘YiPPee!’ Noodles witnessed strong growth and introduced differentiated offerings during the quarter to augment its product range. The Korean range of YiPPee! Noodles was further strengthened with launch of ‘Gochujang’ variant, a spicy and tangy Korean Style noodles, infused with an authentic Gochujang punch, delivering a bold and flavourful kick with every bite. The Business also launched ‘Tom Yum’ variant, a tangy Thai styled flat noodles, with a tasty Tom Yum punch and added vegetables.

• ‘Bingo!’ Snacks continued to build on its growth momentum, and fortified its portfolio with the launch of 3 exciting variants of Baked Puffs under ‘XXX’ range - ‘Chilli Cheese’, ‘Hot & Spicy Korean Style’ and ‘Hot & Sweet’. These new launches and the recently launched ‘Bingo! Crushin’

3 Standalone Financials

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Himalayan Pink Salt’ & ‘Bingo! Bangin’ Butter & Garlic’ potato chips, continue to gain consumer traction.

• ‘Sunrise’ spices reinforced its market standing in the core market of West Bengal and the newer markets of Northeast, Bihar and Jharkhand. Product portfolio was strengthened with the launch of ‘Sunrise Fish Curry Masala’, ‘Sunrise Champaran Mutton Masala’ and ‘Sunrise Til Chicken Masala’ in line with the brand’s promise of serving the unique tastes and preferences of consumers of each region.

• 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.

• ➢ The ‘ 24 Mantra’ range of organic products continues to be scaled up both in India and export markets. The Business is making good progress on integration and synergy plans.

• ➢ Personal Care Products Business recorded strong growth, led by ‘Fiama’ range of Personal Wash products, ‘Savlon’ range of Health & Hygiene portfolio and ‘Nimyle’ range of Homecare products. In the Fragrances category, the Business strengthened its product portfolio with the launch of ‘Engage Roll On’, a range of 0% alcohol deodorants in 4 innovative variants, with FreshEncap™ technology, delivering long-lasting freshness.

• ➢ The Education and Stationery Products Business continued to focus on portfolio premiumisation & innovation. Drawing inspiration from the much-loved puzzles featured on the last page of Classmate notebooks, the brand introduced ‘Design Discoveries’ - an interactive concept where visual clues embedded in the cover artwork lead to puzzles inside the notebook. By blending creativity with engagement, Classmate aims to make learning more enjoyable while supporting cognitive development. The new range has elicited encouraging response from the student community.

The Business also launched a 360 degree campaign, ‘Every Student Deserves a Classmate’ across target markets, sharply communicating the brand’s proposition of providing feature-rich notebooks at affordable prices.

• ➢ ‘Mangaldeep’ Agarbattis and Dhoop posted robust 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 Dhoop was augmented with the launch of 2 innovative variants in Premium Wet Dhoop viz. ‘Kesar Kumkum’ and ‘Black Musk’. Mangaldeep reinforced its positioning as an enabler of devotion by bringing alive the Ayodhya Deepotsav experience to lakhs of devotees across India through an Augmented Reality (AR) powered microsite; with over 26 lakh diyas lit on a single day, with the initiative being recognised as a Guinness World Record Event.

FMCG – CIGARETTES

Sustained volume-led growth momentum; Net Segment Revenue up 7.9% YoY; Segment PBIT up 5.1% YoY

• The Business continues to make strategic portfolio and market interventions, with focus on competitive belts, to reinforce market standing and counter illicit trade

• Differentiated variants and premium segment register strong growth, leveraging mainstream trademarks

• Leaf Tobacco consumption cost remains elevated; partly mitigated through product mix enrichment and cost management interventions

• Procurement prices witness moderation in current crop cycle

• The changes in GST and Excise Duty rates announced recently, have led to an unprecedented increase in tax incidence on cigarettes. Such a steep increase will provide further impetus to illicit trade and

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cause immense hardship and loss to millions of farmers, MSMEs, retailers, local value chains nurtured by the industry and the Exchequer.

The Cigarettes Business will continue to invest in its powerful trademarks & well-laddered product portfolio, innovation capacity, manufacturing excellence, integrated seed-to-smoke value chain, and world-class last mile execution capability to reinforce its market standing.

AGRI BUSINESS

Agri Business Segment Revenue up 6.3% YoY led by Value Added Agri products & Leaf Tobacco

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

• Robust growth in Value Added Agri products (VAAP) driven by aqua and coffee; the strategic focus of the Business continues to be on accelerating growth by rapidly scaling up its VAAP portfolio, straddling multiple value chains comprising Spices, Coffee, Frozen Marine Products and Processed Fruits, amongst others.

• The Business continued to provide strategic sourcing support to the Branded Packaged Foods & Cigarette Businesses with sharply aligned procurement strategies in line with category-relevant market dynamics.

PAPERBOARDS, PAPER & PACKAGING

Continued improvement in operating performance of Paper Segment; underlying profits up 19% QoQ and 11% YoY

• Performance includes impact of planned shutdown for maintenance of High Pressure Recovery Boiler & Paper machines; reported profits up 3.6% QoQ, margins up 40 bps

• Overall Industry remains impacted by low-priced supplies, high wood prices & subdued realisations

• Minimum Import Price has been imposed on Virgin Multi-layer Paperboard, effective 22[nd] August’25; green shoots of improvement in net realisations during the quarter

• Proactive interventions by the Business over the past few years have led to improved wood availability; however, during the quarter, higher wood availability was partly offset by severe cyclones in harvesting season, keeping wood prices elevated; prices are expected to moderate going forward

• Continued 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.

• Industry continues to represent to policy makers for extension of MIP and sustained safeguard measures in respect of low-priced imports of paperboards and coated/uncoated paper

• The Packaging and Printing Business witnessed robust growth driven by both Flexibles and Cartons. The Business remains focused on accelerating new business development, offering innovative and customised solutions.

• The sustainable paperboards/packaging solutions portfolio maintained its strong growth momentum leveraging cutting-edge innovation platforms and has grown to 2.4x over the last 4 years.

FoodTech Business

As a new growth vector envisioned in the ITC Next strategy, the FoodTech Business aims to harness the Company's expertise in Food Science & Manufacturing, FMCG Food brands, and Culinary expertise to capitalise on the burgeoning online food services segment.

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• The delectable range of cuisines being offered under 4 brands - ‘ ITC Master Chef Creations’ , ‘ ITC Aashirvaad Soul Creations’ , ‘ ITC Sunfeast Baked Creations ’ & ‘ Sansho by ITC Master Chef ’ is constantly being expanded and witnessing increasing consumer traction.

• The full-stack food-tech platform has scaled up to appx. 70 cloud kitchens across 5 cities and is now being progressively introduced across India; 4 new kitchens opened during the quarter (~21 kitchens in YTD Dec’25).

• GMV doubled over same period last year, to appx. Rs. 150 cr. in YTD Dec’25. (FY25 GMV appx. Rs.105 cr.).

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 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 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 and retained its ‘ Leadership Level ’ score of ‘ A - ’ for CDP Climate . In 2025, the Company also debuted on the ‘ A List ’ for CDP Forest in its first year of participation.

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 Alliance for Water Stewardship (AWS) Standard which is a credible, globally recognized framework for ensuring sustainable water management.

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://itcportal.com/content/dam/itc-corporate/pdfs/financial-result/quarterly-results-20252026/december-2025/ITC-Quarterly-Result-Presentation-Q3-FY2026.pdf

The Board of Directors, at its meeting on 29[th] January 2026, approved the financial results for the quarter ended 31[st] December 2025, which are enclosed.

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(Nazeeb Arif) Executive Vice President Corporate Communications

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Q3 FY26 Results

29[th] January, 2026

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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 guarantee as to their accuracy and readers are advised not to place any undue reliance on these 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

Marginal improvement in Global growth outlook

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Real GDP Growth YoY
7.7
3.7
2.4
2.1
1.4
3.3 3.3 1.7 1.8 2.1 2.4 5.0 4.5
1.4 1.3
World Adv. Eco US Euro Area China
2025e 2026f 2010-19 average
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• Global growth forecast for 2026 up 20 bps [3.1% vs 3.3% (IMF Estimates)]

• AI investments partly offset global trade headwinds

• Geopolitical dynamics, geoeconomic fragmentation, climate crisis, rapid advancement in technology  heightened uncertainty

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India: Macroeconomic stability & resilience

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• Q2 FY26 Real GDP up 8.2% YoY

• FY26 Real GDP growth estimate revised upwards ~7.4%

• Resilient macros buoyed by policy interventions

• Deceleration in Nominal GDP growth

Source : IMF WEO Jan’26, MOSPI, RBI | 4 |

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High Frequency Indicators

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Sustained Rural demand (Index)
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Benign Inflation (%)
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Benign Inflation (%) (Index) Credit offtake improves (Non food bank credit growth YoY%)
9.0 14.4
Inflation Policy rate
6.0 12.2
10.4
3.0 10.2
8.8
0.0
Source: MOSPI, RBI Source: CITI Source: RBI, CMIE
Elevated Merchandise Trade Deficit
Sharp decline in the Rupee (INR/USD) Sustained FII outflows ($ bn)
(Trade deficit in $ bn)
0.0
83.5 10.0
-61.4
-60.0
5.0
85.5
-120.0
0.0
87.5 -137.1 -148.3
-180.0
-5.0
89.5
-240.0
-10.0
90.6 Merchandise Trade Deficit ($ bn) -248.2
91.5 -300.0
-15.0
Source: RBI Source: Ministry of Commerce & Industry
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10.0
5.0
0.0
-5.0
-10.0
-15.0
Source: RBI, NSDL
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India Macro

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Heightened
Key Key
Positives Monitorables Uncertainty
Geopolitical
Broad based
Sustained Benign Urban demand revival of disruptions
growth
Inflation recovery
momentum Private Capex
Trade Barriers
Income Tax, Strong Bank & External
Rabi sowing Commodity Fiscal Deficit
GST, Interest Corporate Account
trends price volatility Tax collections Climate change
rate cuts Balance Sheets CAD | BoP | INR
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Q3 FY26 Results Headline Financials & Business Highlights

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Key Highlights: Q3 FY26

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Consolidated Standalone
Gross Revenue PBT (bei) Gross Revenue EBITDA
+7.1% +8.8% +6.3% +7.6%
(Ex Paper +8.3% )
PAT (bei) PAT (bei)
+9.9%
+6.8%
Robust performance by Group entities
EBITDA Margin at 35.1% 50 bps
(ITC Infotech, Surya Nepal & ITC Hotels)
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bei– Before Exceptional Items

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Key Highlights

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• – -

• FMCG Others Segment delivers robust performance Double digit Revenue growth (up 11% YoY) ; EBITDA margin expansion (up 145 bps YoY)

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

• Incipient signs of recovery in Notebooks

  • Continued low-priced paper imports & opportunistic play by local/regional players

• Strong performance continues in premium portfolio and NewGen channels

• Digital-first & Organic portfolio sustains its high growth trajectory; up 60% YoY

Segment PBIT up 42% YoY

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

NewGen Channels includes e-Commerce, Quick Commerce & Modern Trade

Key Highlights

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• Cigarettes Business: Sustained volume-led growth momentum; Net Segment Revenue* up 7.9% YoY

• Strong performance in differentiated & premium offerings, leveraging mainstream trademarks & innovation

• Continued focus on strategic portfolio / market interventions to reinforce market standing & counter illicit trade

• Leaf Tobacco consumption cost remains elevated

  • Moderation in procurement prices witnessed in current crop cycle

• Unprecedented increase in cigarette taxes w.e.f 1[st] Feb 2026

 Agri Business Segment Revenue up 6.3% YoY led by Value-Added Agri products & Leaf Tobacco

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

• Robust growth in Value Added Agri Products (VAAP) driven by Aqua & Coffee

• Strategic focus continues on scaling up VAAP portfolio (Spices, Coffee, Frozen Marine Products & Processed Fruits)

*Net of Excise Duty/NCCD on Sales

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Key Highlights

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 Paperboards, Paper and Packaging: Continued improvement in operating performance of Paper Segment; underlying profits up 19% QoQ & 11% YoY

• Performance includes impact of planned shutdown for maintenance of HPRB/Paper machines

• Reported profits up 3.6% QoQ, margins up 40 bps

• Overall industry remains impacted by low-priced imports, high wood prices & subdued realisations

• MIP on Virgin Multi-layer Paperboard w.e.f. Aug’25  Green shoots of improvement in net realisations

• Proactive interventions over past few years  Improved wood availability; partly offset by severe cyclone in harvesting season; moderation in wood prices expected going forward

• Industry continues to engage with policymakers for extension of MIP and sustained safeguard measures w.r.t. lowpriced imports of Paperboards & coated/uncoated paper

• Robust growth in Packaging & Printing Business driven by both Flexibles & Cartons segments

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Minimum Import Price (MIP)

HPRB: High Pressure Recovery Boiler

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

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World-Class Talent | Proneurial Spirit | High Performance culture

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FMCG Cigarettes

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FMCG Cigarettes – Q3 FY26

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• Segment Revenue  Net Segment Revenue* up 7.9% YoY

• 8791 cr. 8.0%  Strong growth sustained in differentiated and premium offerings  Strategic portfolio and market interventions with focus on competitive belts to counter illicit trade and reinforce market standing

• Segment Results  Leaf Tobacco consumption cost remains elevated Moderation in procurement prices witnessed in current crop cycle

• 5177 cr. 5.1%

*Net of Excise Duty/NCCD on Sales

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FMCG Cigarettes Reinforcing market standing

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Innovation Portfolio Fortification
• •
Classic Connect • Silk Cut Red
Gold Flake
• •
American Club Clove Mint Scissors
•
Classic
• •
Gold Flake Indie Mint Flake Spl
Recent Introductions
• Classic Clove • Gold Flake Snap Mint • Capstan Clove
• Classic Refined Taste Sleek • Gold Flake Smart Pro • Wills Clove
• Classic Icon • American Club Super Slims • Bristol Clove
`
• • •
Gold Flake Kings Sleek American Club Fruity (RSFT) Flake Insta Fresh
• Gold Flake Social 2-Pod • Player Magic Mix • Flake Power Play
• Gold Flake Indie Clove • Players Aromix • Flight
• Gold Flake SLK Range • Wave Boss • Power
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FMCG Others Q3 FY26

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FMCG Others – Q3 FY26

Double Digit Revenue growth (+11% YoY)

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 Broad-based growth across categories

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

• Robust growth in NewGen channels

• Sharp execution of business plans | Collaborations | Format-based assortments | Category-specific sell-out strategies

• Strong growth momentum continues in the Digital-first & Organic portfolio; up 60% YoY

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Revenue
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Digital-First & Organic Portfolio Q3 Revenue ↑ 60% YoY

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NewGen channels includes e-Comm, Quick Comm & Modern Trade

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FMCG Others

Segment PBIT up 42% YoY

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 EBITDA margin expands 145 bps YoY

• Calibrated pricing actions, premiumisation & focused cost management initiatives

• Prices of major commodities (edible oil, wheat, maida, cocoa, soap noodles etc.) largely stable during the quarter; remain elevated on YoY basis

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

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Full Year Seg. EBITDA Seg. EBITDA Margin %
11.2%
9.1% 9.8% 12. 0%
200 0 10. 0%
7.1% 8.0 %
150 0
6.0 %
100 0 4.0 %
2.0 %
500
0.0 %
914 1449 2339 2164
0 -2.0%
FY20 FY21 FY22 FY23 FY24 FY25
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Future-Ready Portfolio

Recent Launches

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Fortifying the Core Addressing Adjacencies New Growth Vectors
YiPPee! ITC Master Chef
Bingo! Korean Crispy Cheese Fills|
Chilli Cheese I Hot &
Multipurpose Piri Piri Prawns
Spicy I Hot & Sweet Masala
Sunfeast Baked
Creations
Yoga Bar
French Style Butter Pro Clean
Cookies
Whey Protein
Mom’s Magic Mangaldeep Scent Aashirvaad
Choco walnut I Fruit & Nut Black Musk I Kesar Kumkum
Roasted Vermicelli
Aashirvaad
High Protein Atta
Engage B Natural
Roll Ons
YiPPee! No Added Sugar Guava
Gochujang I Tom
Yum Classmate Spectra
Geometry Box
Aashirvaad
Fabelle
Svasti Milk
Pecan Kunafa I
Creamy Rich
Sunrise Pistachio Kunafa
Champaran Mutton Masala
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Deepening Consumer Engagement

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Impactful Brand Integration

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Clutter-breaking Communication

Classmate: Sharpening Value Proposition – 360[o] campaign

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Mangaldeep - World record @ Ayodhya’s Deepotsav

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Agri Business

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Agri Business – Q3 FY26

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• Robust growth in Value-added Agri portfolio (VAAP) driven by Aqua & Coffee

  • Continued strategic focus on rapidly scaling up VAAP portfolio

• Strong growth in Leaf Tobacco exports

• Segment Revenue - Crop development expertise | Superior product quality | Strong customer relationships

• 3560 cr. 6.3%  Continued strategic sourcing support to Branded Packaged Foods & Cigarettes Businesses

Segment Results 424 cr. 2.8%

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Value-Added Agri Products
1.9x
640
590
540
490 1.3x
440
390 1.0x
340
290
240
190
Q3 FY22 Q3 FY24 Q3 FY26
Spices facility, Guntur
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Paperboards, Paper & Packaging

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Paperboards, Paper & Packaging – Q3 FY26

Underlying Profits ↑19% QoQ | ↑11% YoY

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• Underlying performance improves; planned shutdown for maintenance of HPRB/Paper machines

Segment Revenue

2202 cr. 2.7%

• Reported profits up 3.6% QoQ, margins up 40 bps

• Industry remains impacted: Low-priced import | Subdued realisations | ↑ Wood prices

• Green shoots of improvement in net realisations post imposition of MIP

Segment Results

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198 cr. 3.7%
Sustainable Products Portfolio
YTD FY22 YTD FY26
MIP: Minimum Import Price
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• Improved wood availability offset by severe cyclones during harvest; Moderation in prices expected going forward

• Industry representations: MIP extension and sustained safeguard measures w.r.t low priced imports

• Key Interventions : Accelerating plantations | Developing new areas | Satellite-based monitoring

• Robust growth in Packaging & Printing Business driven by Cartons & Flexibles segments

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HPRB: High Pressure Recovery Boiler | 25 |

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FoodTech Business

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FoodTech Business – Q3 FY26

YTD Dec’25 GMV ~150 cr. Doubled YoY

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YTD Dec’25  New vector of growth envisioned in the ITC Next strategy
GMV
―
Leverages Company’s expertise in Food Science & Manufacturing, FMCG Food
~ Rs. 150 cr. brands and Culinary expertise

Full-stack FoodTech platform  Witnessing increasing consumer traction
Across 5 ~ 70 ― Being progressively introduced across India
cities kitchens ―
21 Kitchens opened in last 9 months
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Spices facility, Guntur

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FoodTech – Full Stack Platform

Strong Brands | Diverse Cuisines

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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
Occasional
Daily
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Financials

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Key Financials - Standalone

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Rs. Cr.	Q3 FY26	Q3 FY25	GOLY (%)	ex-Paper up8.3%YoY
Gross Revenue EBITDA PBT (bei) PAT (bei) Exceptional Items PBT PAT	19200	18055 5828 6546 4958 528 7074 5421	6.3% 7.6% 6.3% 6.8% -5.5% -6.1%
	6271
	6959
	5294
	(274)
	6685
	5089

Exceptional items: CY : Est. one-time impact on recognition of past service cost of Rs. 274 cr. w.r.t increase in liability of gratuity & compensated absences primarily arising due to change in definition of wages pursuant to notification of new Labour Codes LY : Fair value gain of Rs. 528 cr. upon acquisition of certain investments at cost from a wholly owned subsidiary

bei – Before Exceptional Items

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Key Financials – Consolidated

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Rs. Cr. Q3 FY26 Q3 FY25 GOLY (%)
Gross Revenue 21578 20140 7.1%
EBITDA 6883 6362 8.2%
PBT (bei) 7109 6536 8.8%
PAT (bei) 5284 4810 9.9%
Exceptional Items (355)
PBT 6754 6536 3.3%
PAT 5018 4810 4.3%
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Robust performance by Group entities led by

ITC Infotech India Ltd, Surya Nepal Pvt Ltd and ITC Hotels Ltd

Exceptional items in CY:

Est. one-time impact on recognition of past service cost of Rs. 355 cr. w.r.t increase in liability of gratuity & compensated absences primarily arising due to change in definition of wages pursuant to notification of new Labour Codes

bei – Before Exceptional Items

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Segment Revenue

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			Q3				• FMCG Others
Rs. cr.		FY26	FY25		YoY growth		- Double digit Revenue growth
Segment Revenue a) FMCG - Cigarettes - Others Total FMCG b) Agri Business		8791 6020 14810 3560	8136 5418 13554 3351		8.0% 11.1% 9.3% 6.3%		- Staples, Biscuits, Noodles, Dairy, Premium Personal Wash, Homecare & Agarbattis drive growth - Incipient Signs of recovery in Notebooks - Strong performance continues in premium portfolio & NewGen channels
c) Paperboards, Paper & Packaging		2202	2144		2.7%		• Agri Business
d) Others Total		95 20668	45 19094		112.8% 8.2%		Revenue up 6.3% YoY led by Value-Added Agri products & Leaf Tobacco exports
Less : Inter Segment Revenue Gross Revenue from sale of products and services		1468 19200	1039 18055		41.3% 6.3%		• Paperboards, Paper & Packaging - Industry remains impacted by low Priced Imports & subdued realisations

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

• Robust growth in Packaging & Printing Business driven by both Flexibles and Cartons segments

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Standalone Financials

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Segment Results

					Q3
		Rs. cr.		FY26	FY25	YoY growth
	Segment Results						• Cigarettes
		a) FMCG - Cigarettes		5177	4924	5.1%	‒	Leaf tobacco consumption cost remain elevated
		- Others		450	317	42.0%		 Moderation in procurement	prices	for	leaf	tobacco
		Total FMCG		5627	5241	7.4%		witnessed in current crop cycle
		b) Agri Business		424	412	2.8%
		c) Paperboards, Paper & Packaging		198	205	-3.7%	• FMCG Others
		d) Others Total		3 6252	18 5877	6.4%	‒	Segment EBITDA marginup 145 bps	YoY
	Less : i) Finance Cost			15	8		‒	Segment PBITup 42% YoY
		ii) Other un-allocable (income) net of un-allocable expenditure		(722)	(676)		• Paperboards, Paper & Packaging
		iii)Exceptional items		274	(528)		-	Continued improvement in Operational	performance; Underlying
	Profit Before Tax from Continuing Operations			6685	7074	-5.5%	-	Profits up 19% QoQ	up 11% YoY Q3 includes impact of planned shutdown for maintenance
	•	Others Segmentincludes ITC Grand Central Hotel, Mumbai (man			aged by ITC Hotels Ltd.) and			Pressure Recovery Boiler & Paper machines

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

Exceptional items:

CY : Est. one-time impact on recognition of past service cost of Rs. 274 cr. w.r.t increase in liability of gratuity & compensated absences primarily arising due to change in definition of wages pursuant to notification of new Labour Codes

LY : Fair value gain of Rs. 528 cr. upon acquisition of certain investments at cost from a wholly owned subsidiary

Standalone Financials

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ITC – A Global Exemplar in Sustainability

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Impactful Social Performance

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On-farm livelihood diversification Off-farm livelihood diversification
ITC e-Choupal Climate Smart Agriculture^ Natural Resources Management
– Afforestation – Livestock Development
4 Million Farmers Over 29.6 lac acres covered in – Water Stewardship
Over 14.2 lac acres Over 10.8 lac animal owners
empowered 25-26 Over 18.9 lac acres covered
Greened benefitted
Mother & Child Health and
Support to Education Solid Waste Management Women Empowerment
Skilling of Youth Nutrition^
Reaching over Over 15 million+ households Over 4.51 lac
Skilled over 1.36+ lac youth Over 11 lac community
29 lac+ Children covered across programmes women covered
members covered in 25-26
^ figures for FY26 till Q3 FY26 | 35 |
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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 and Sustainable… 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://itcportal.com/content/dam/itc-corporate/pdfs/financial- result/quarterly-results-2025-2026/december-2025/ITC-Press-Release-Q3- FY2026.pdf

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