ITC Ltd — Interim / Quarterly Report 2026

Jan 29, 2026

ITC Limited Virginia House 3 7 J. L. Nehrn Road Kolkata 700 071, India Tel.: 91 33 2288 9371

Enduring Value

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Fax: 91 33 2288 2258 i 2259 f 2260

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 Sandra (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 of the Company for the Quarer and Nine Months ended 31[st ] December, 2025 and Interim Dividend

Further to our letter dated 15[th ] January, 2026, we write to advise that the Board of Directors of the Company at the meeting held today i.e., 29[th ] January, 2026, has, inter alia, approved/ noted I declared the following:

1. Financial Results (both Standalone and Consolidated) for the Quarter and Nine Months ended 31[st ] December, 2025:

• (i) Approved the Unaudited Financial Results and the Unaudited Segment-wise Revenue, Results, Assets and Liabilities of the Company; and

• (ii) Noted the Limited Review Reports from the Statutory Auditors of the Company, Messrs. S R B C & CO LLP, Chartered Accountants, on the aforesaid Financial Results.

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

2. Interim Dividend:

• (a) Declared Interim Dividend of f 6.50 per Ordinary Share of f 1/- each for the financial year ending on 31[st ] March, 2026; such Dividend will be paid between Thursday, 26[th ] February, 2026 and Saturday, 28[th ] February, 2026 to those Members of the Company entitled thereto.

• (b) Fixed Wednesday, 4[th ] February, 2026 as the Record Date for the purpose of determining entitlement of the Members for such Interim Dividend.

The Board Meeting commenced at 1.1 O p.m. and concluded at 6.25 p.m.

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Executive Vice President & Company Secretary

Encl: as above.

FMCG • PAPERBOARDS & PACKAGING• AGRI-BUSINESS • INFORMATION TECHNOLOGY Visit us at www .itcportal.com • Corporate Identity Number : L l 6005WB 191 0PLCOO 1985 • 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

A

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ITC Limited

Statement of Unaudited Standalone Financial Results for the Quarter and Nine Months ended 31st December, 2025

				(f in Crores)	(f in Crores)	(f in Crores)	(f in Crores)
Particulars 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 EXCEPTIONAL ITEMS AND TAX (3-4) EXCEPTIONAL ITEMS (Refer Note4) PROFIT BEFORE TAX (5+6) TAX EXPENSE a) Current Tax b) Deferred Tax PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS (7-8) PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX FROM DISCONTINUED OPERATIONS EXCEPTIONAL ITEMS OF DISCONTINUED OPERATIONS TAX EXPENSE OF DISCONTINUED OPERATIONS PROFIT FOR THE PERIOD FROM DISCONTINUED OPERATIONS (10+11-12) (Refer Note 5) PROFIT FOR THE PERIOD (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 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 (14+15)				3 Months ended 31.12.2025	Corresponding 3 Months ended 31.12.2024	Preceding Twelve 3 Months 9 Months 9 Months Months ended ended ended ended 30.09.2025 31.12.2025 31.12.2024 31.03.2025 (Unaudited) (Unaudited) (Unaudited) (Audited)
				(Unaudited) (Unaudited)
		(i) (ii) 1 2 3		19199.88 18055.46 159.58 234.78		19148.37 233.62	59259.20 55198.38 73464.55 541.23 543.63 771.52
				19359.46 18290.24 1071.90 1086.62 20431.36 19376.86		19381.99 897.97 20279.96	59800.43 55742.01 74236.07 2631.95 2658.86 3454.31 62432.38 58400.87 77690.38
		4 5 6 7 8 9 10 11 12 13		6686.99 5938.51 6457.37 19315.46 17321.37 23440.12 1539.29 2390.52 1574.33 7029.45 7118.62 8936.22 (100.24) (558.93) 153.61 38.86 (516.21) (640.50) 1342.32 1237.42 1360.74 4012.13 3666.70 4912.55 902.54 867.83 873.46 2691.47 2547.30 3416.73 14.96 7.57 15.88 43.77 27.84 36.35 369.23 361.82 370.71 1105.25 1085.45 1441.93 2717.39 2586.51 2710.47 7928.61 7565.79 10146.12 13472.48 12831.25 13516.57 42165.00 38816.86 51689.52 6958.88 6545.61 6763.39 20267.38 19584.01 26000.86 (273.83) 527.96 88.08 (185.75) 527.96 527.96 6685.05 7073.57 6851.47 20081.63 20111.97 26528.82 1596.22 1652.21 1671.65 4900.62 4894.83 6436.97 941.16 1501.75 1642.49 4161.61 4612.08 5990.17 655.06 150.46 29.16 739.01 282.75 446.80 5088.83 5421.36 5179.82 15181.01 15217.14 20091.85 301.50 - 572.52 572.52 - (12.18) - - (16.37) 15163.06 - 72.43 - - 139.25 631.82 - 216.89 416.90 15103.76
		14 15 16		5088.83 5638.25 73.44 276.34 65.75 343.94 (8.78) (49.17) 22.60 (24.36) (6.13) 5.93 5162.27 5914.59		5179.82 15181.01 15634.04 35195.61 (188.32) 73.95 (321.10) (929.38) (96.23) 146.55 (322.46) (1026.75) 12.88 (23.09) (16.22) 85.34 (138.62) (68.88) 20.41 23.30 33.65 19.37 (2.83) (11.27) 4991.50 15254.96 15312.94 34266.23
PAID UP EQUITY SHARE CAPITAL(Ordinary Shares of � 1/- each) RESERVES EXCLUDING REVALUATION RESERVES EARNINGS PER SHARE (of � 1/- each) (not annualised): For Continuing Operations (a) Basicm (b) Diluted (�) For Discontinued Operations (a) Basic(�) (b) Diluted (�) For Continuing and Discontinued Operations (a) Basic(�) (b) Diluted (�)
		17 18 19		1252.90 1251.17 1252.71 1252.90 1251.17 1251.41 66648.73 4.06 4.34 4.13 12.12 12.18 16.07 4.06 4.33 4.13 12.11 12.16 16.05 - 0.17 - - 0.33 12.08 - 0.17 - - 0.33 12.06 4.06 4.51 4.13 12.12 12.51 28.15 4.06 4.50 4.13 12.11 12.49 28.11

Notes:

1. The Unaudited 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 29th January, 2026.

2. The continuing significant brand building costs covering a range of personal care and branded packaged f d products are reflected under 'Other expenses' stated above and in Segment Results under 'FMCG[-] Others'.

3. 18,29,340 Ordinary Shares of, 1/[-] each were issued and allotted under the Company's Employee Stock Option Schemes during the quarter ended 31st December, 2025. Consequently, the issued and paid[-] up Share Capital of the Company stands increased to , 1252,89,59,771/- as on 31st December, 2025.

4. Exceptional Items of Continuing Operations for the nine months ended 31st December, 2025 on 185.75 Crores represents:

a) estimated one[-] time impact on recognition of past service cost of, 273.83 Crores during the quarter ended 31st December, 2025 with respect to increase in liability of gratuity and compensated absences, primarily arising due to change in definition of wages pursuant to notifications issued by the Ministry of Labour & Employment dated 21st November, 2025 bringing into force the provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "New Labour Codes"). The Company continues to monitor the finalisation of rules by the Central and State Governments and clarifications from the Government on other aspects of the New Labour Codes and will account for such developments as needed.

b) receipt of , 88.08 Crores during the quarter ended 30th September, 2025 on final settlement of the insurance claim towards leaf tobacco stocks, which were destroyed due to fire at a third party owned warehouse in an earlier year.

Exceptional Items of Continuing Operations for the quarter and nine months ended 31st December, 2024 represents fair value gain of, 527.96 Crores upon acquisition of 1,52,32,129 Equity Shares of, 21- each of EIH Limited and 34,60,829 Equity Shares of, 21- each of HLV Limited, from Russell Credit Limited, a wholly owned subsidiary of the Company, at their respective book value.

1. Discontinued Operations represents operations of the Hotels Business of the Company (excluding ITC Grand Central, Mumbai) which was demerged pursuant to the Scheme of Arrangement amongst the Company and ITC Hotels Limited and their respective shareholders and creditors under Sections 230 to 232 read with the other applicable provisions of the Companies Act, 2013 ('the Scheme') w.e.f 1st January, 2025, being the Appointed Date and the Effective Date of the Scheme.

Brief particulars of the Discontinued Operations are given as under:

(f in Crores)	(f in Crores)	(f in Crores)	(f in Crores)	(f in Crores)	(f in Crores)
Sr. No.	Pariculars	3 Months ended 31.12.2025	Corresponding Preceding 3 Months 3 Months 9 Months ended ended ended 31.12.2024 30.09.2025 31.12.2025	9 Months ended 31.12.2024	Twelve Months ended 31.03.2025
		(Unaudited)	(Unaudited) (Unaudited) (Unaudited)	(Unaudited)	(Audited)
a. b. C. d. e. f. g.	Revenue from Operations Total Income Total Expenses Profit Before Exceptional Items and Tax (b-c) Exceptional Items Tax Expenses Profit from Discontinued Operations(d+e-f)	- - - - - - -	931.29 - - 942.85 - - 641.35 - - 301.50 - - (12.18) - - 72.43 - - 216.89 - -	2277.73 2296.94 1724.42 572.52 (16.37) 139.25 416.90	2277.73 2296.94 1724.42 572.52 15163.06 631.82 15103.76

1. The amalgamation of Sresta Natural Bioproducts Private Limited and Wimco Limited, wholly owned subsidiaries, with the Company was approved by the Board of Directors on 1st August, 2025. Necessary petitions seeking sanction of the National Company Law Tribunal, Kolkata and Hyderabad Benches, to the said amalgamation have been filed and pending approval, no effect of the same has been given in these Results.

2. Prag Agro Farm Limited has ceased to be a wholly owned subsidiary of the Company with effect from 10th December, 2025, consequent to its voluntary liquidation.

3. The Board of Directors of the Company have declared an Interim Dividend of, 6.50 per Ordinary Share of, 1/- each (2025[-] , 6.50 per Ordinary Share). The Record Date fixed for the purpose of determining entitlement of the Members for the Interim Dividend is Wednesday, 4th February, 2026, and such Dividend will be paid between Thursday, 26th February, 2026 and Saturday, 28th February, 2026 to those Members entitled thereto.

4. This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Limited Review

The Company is required to file its financial results with the relevant stock exchanges as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Accordingly, the financial results have been subjected to Limited Review by the statutory auditors of the Company, who have issued an unmodified report on the same.

ITC LIMITED

Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Nine months ended 31st December, 2025

		for the	Quarer and Nine months ended 31st December, 2025	Quarer and Nine months ended 31st December, 2025	Quarer and Nine months ended 31st December, 2025	Quarer and Nine months ended 31st December, 2025	Quarer and Nine months ended 31st December, 2025	Quarer and Nine months ended 31st December, 2025	Quarer and Nine months ended 31st December, 2025	Quarer and Nine months ended 31st December, 2025
			(' in Crores)
			STANDALONE
Particulars 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 serices			3 Months ended 31.12.2025 Corresponding Preceding 3 Months 3 Months ended ended 31.12.2024 30.09.2025				9 Months ended 31.12.2025 (Unaudited) 26033.63 17761.14 Twelve 9 Months Months ended ended 31.12.2024 31.03.2025 (Unaudited) (Audited) 24231.66 32631.27 16486.94 21981.57
			(Unaudited) (Unaudited) (Unaudited)
	Segment Revenue a) FMCG- Cigarettes - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less:Inter-segment revenue		8790.76 6019.69 14810.45 8136.29 8722.83 5418.18 5964.44 13554.47 14687.27		9 8722.83 8 5964.44
							43794.77 40718.60 54612.84
			3560.27 2202.41 95.00 20668.13 1468.25 3350.81 2144.45 44.64 19094.37 1038.91			3976.24 17221.54 2219.92 6538.09 75.29 238.30 20958.72 67792.70 1810.35 8533.50 16104.64 19753.80 6235.19 8422.81 114.65 167.37 63173.08 82956.82 7974.70 9492.27	17221.54 6538.09 238.30 16104.64 19753.80 6235.19 8422.81 114.65 167.37
								7974.70 9492.27
			19199.88 18055.46			19148.37 59259.20 55198.38 73464.55
2. Segment Results a) FMCG- Cigarettes - Others [Note (i)] Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) O1hers Total Less: i) Finance Costs ii) Other un-al/ocable (income) net of un-allocable expenditure [Note (ii)] iii) Exceptional Items• Profit Before Tax from Continuing Operations			5177.02 450.43	4924.04 317.11		5240.66 15562.96 440.35 1288.27 14907.01 20024.87 1234.77 1579.66
			5627.45 424.00 197.93 2.61	5241.15 412.45 205.48 18.15		5681.01 16851.23 16141.78 21604.53
						459.10 1316.98 191.01 551.56 (7.11) (11.10) 1222.97 1478.03 709.26 911.49 43.08 64.02
			6251.99	5877.23		6324.01	18708.67 18117.09 24058.07
			14.96 (721.85) 273.83 6685.05	7.57 15.88 43.77 (675.95) (455.26) (1602.48) (527.96) (88.08) 185.75 7073.57 6851.47 20081.63 27.84 36.35 (1494.76) (1979.14) (527.96) (527.96) 20111.97 26528.82
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	Segment Assets a) FMCG- Cigarettes - Others Total FMCG b) Agri Business C) Paperboards, Paper & Packaging d) Others Total Discontinued Operations .. Unallocated Corporate Assets		10527.38 13616.69 24144.07	9291.23 10769.40 10527.38 13401.21 15124.50 13616.69 22692.44 25893.90 24144.07 9291.23 9929.46 13401.21 12911.68 22692.44 22841.14
			7524.54 9769.27 202.41	6385.52 8613.16 7524.54 9737.72 9779.55 9769.27 137.38 201.70 202.41					6385.52 9737.72 137.38	6956.68 9656.83 149.52
			41640.29 - 50799.10	38953.06 44488.31 41640.29 12088.44 - - 43937.12 41483.78 50799.10					38953.06 12088.44 43937.12	39604.17 - 44405.03
			92439.39	94978.62 85972.09 92439.39					94978.62	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			7142.99 2916.17	5874.64 6321.46 7142.99 2434.84 2844.28 2916.17					5874.64 2434.84	5516.37 2442.96
			10059.16	8309.48 9165.74 10059.16					8309.48	7959.33
			1615.80 1376.51 52.25 13103.72 - 5510.67	1304.57 1518.86 1615.80 1391.46 1312.00 1376.51 24.90 44.30 52.25 11030.41 12040.90 13103.72 1393.68 - - 3534.79 5346.86 5510.67					1304.57 1391.46 24.90 11030.41 1393.68 3534.79	2221.65 1361.09 60.69 11602.76 - 4506.30 16109.06
Total Liabilities			18614.39	15958.88		17387.76 18614.39			15958.88

• Refer Note 4 to the Standalone Financial Results.

•• Refer Note 5 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 nine months ended 31.12.2025 is f 601. 71 Crores and t 1741.36 Crores respectively (quarter ended 31.12.2024 - t 462.71 Crores; quarter ended 30.09.2025 - t 594.08 Crores; nine months ended 31.12.2024 - t 1673.96 Crores and twelve months ended 31.03.2025 -f 2163.92 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.

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)

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 and leaf tobacco. Others ITC Grand Central Hotel, Mumbai; FoodTech.

(3) Segment results of 'FMCG Others' are after considering significant business development, brand building and gestation costs of Branded Packaged Foods businesses and Personal Care Products business.

Registered Office Virginia House, 37 J.L. Nehru Road, or and on behalf of the Board Kolkata 700 071, India Dated : 29th January, 2026 Place : Kolkata, India �/ Director & Chief ncial Officer Chairman & Managing Director ;(DIN: 01804345) (DIN: 00280529)

Website: www.itcportal.com J E-mail: enduringvalue@itc.in I Phone: +91-33-2288 9371 I Fax: +91-33-2288 0655 J CIN: L 16005WB1910PLC001985

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Enduring Value ITC Limited

Statement of Unaudited Consolidated Financial Results for the Quarter and Nine Months ended 31st December, 2025

								ff in•Croresl	ff in•Croresl
Particulars				3 Months ended 31.12.2025	Corresponding 3 Months ended 31.12.2024 (Unaudited 20140.15 209.81 Preceding 3 Months 9 Month ended ended 30.09.2025 31.12.2025 !Unaudited (Unaudited 21047.45 65632.52 208.41 459.33			s 9 Months ended 31.12.2024	Twelve Months ended 31.03.2025
	(i) (ii) 1 2 3			!Unaudited 21577.58 129.06	(Unaudited		(Unaudited 65632.52 459.33	/Unaudited 60766.35 470.07	/Audited 80942.76 670.02
CONTINUING OPERATIONS Gross Revenue from sale of products and services Other operating revenue REVlNUE FROM OPERATIONS [(i)+{ii)) OTHER INCOME TOTAL INCOME (1+2)					20140.15 209.81
				21706.64 574.04 22280.68	20349.96 595.86 '20945.82	21255.86 584.40 21840.26	66091.85 1840.65 67932.50	61236.42 1889.43 63125.85	81612.78 2529.69 84142.47
				6796.55 1547.38 73.71 1659.34 1704.06 19.47 430.82 3043.08 15274.41	6016.04 2369.36 (421.91) 1559.79 1590.54 9.82 415.98 2874.24 1413.86 4.10 6536.06 6536.06 1726.32 1644.95 81.37 4809.74 290.41 (12.18) 74.79 203.4 5013.18 423.12 417.92 (65.13) 62.92 7.41 5436.30
EXPENSES a) Cost of materials consumed b) Purchases of Stock-in-Trade and Biological Assets C) Changes in inventories of finished goods, Stockin-Trade, work-in-progress, intermediates and Biological Assets d) Excise duty e) Employee benefts expense f) Finance costs g) Depreciation and amortization expense h) Other expenses TOTAL EXPENSES SHARE OF PROFIT / {LOSS) OF ASSOCIATES AND JOINT VENTURES PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3-4+5) EXCEPTIONAL ITEMS (Refer Note 4) PROFIT BEFORE TAX (6+7) TAX EXPENSE a) Current Tax b) Deferred Tax PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS (8-9) PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX FROM DISCONTINUED OPERATIONS EXCEPTIONAL ITEMS OF DISCONTINUED OPERATIONS TAX EXPENSE OF DISCONTINUED OPERATIONS PROFIT FOR THE PERIOD FROM DISCONTINUED OPERATIONS (11+12-13) {Refer Note 5) PROFIT FOR THE PERIOD (10+14) 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 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)	4					6577.45 1565.71 (1.74) 1754.23 1654.49 20.05 434.80 3011.03 15016.02	19612.30 7007.28 169.96 5048.13 5034.40 55.99 1288.58 8826.10 47042.74	17537.57 7062.34 (358.63) 4678.08 4572.92 34.15 1235.29 8285.32 43047.04	23757.33 8947.04 (725.65) 6289.44 6169.78 45.06 1646.32 11196.63 57325.95 110.42 26926.94 26926.94 6890.47 6509.61 380.86 20036.47 525.84 15128.81 638.64 15016.01 35052.48 (624.86) (1072.62) 59.58 398.32 (10.14) 3427.62
	5 6 7 8 9 10 11 12 13 14 15 16 17			102.39 7108.66 (354.58) 6754.08 1735.63 1098.98 636.65 5018.45				12.01 20090.82 20090.82 5209.62 4994.75 214.87 14881.20
						66.36 6890.60 88.08 6978.68 1792.13 1769.40 22.73 5186.55 - - 5186.55 (134.98) (104.69) 14.25 (79.91) 35.37 5051.57	237.51 21127.27 (266.50) 20860.77 5312.36 4606.97 705.39 15548.41
				5018.45				525.84 (16.37) 146.07 363.40
							15548.41	1524.60 (223.27) (361.48) (41.36) 180.98 (1.41) 15021.33
				69.42 64.21 (8.78) 19.86 (5.87) 5087.87			148.52 146.53 (21.72) 2.48 21.23 15696.93
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 (Ordinar Shares of f 1/- each) RESERVES EXCLUDING REVALUATION RESERVES EARNINGS PER SHARE (of f 1/ each) (not annualised): For Continuing Operations (a) Basic (f) (b) Diluted (f) For Discontinued Operations (a) Basic (f) (b)Diluted (f) For Continuing and Discontinued Operations (a) Basic (f) (b) Diluted (f)						5126.11 60.44 (133.67) {1.31) 4992.44 59.13 1252.71 4.09 4.09 4.09 4.09
		18 19 20		4931.19 87.26 69.42 - 5000.61 87.26 1252.90 3.94 3.94 3.94 3.94	4934.80 78.38 423.12 5357.92 78.38 1251.17 3.79 3.78 0.16 0.16 3.95 3.94		15301.50 246.91 149.83 (1.31) 15451.33 245.60 1252.90 12.22 12.21 . 12.22 12.21	15019.26 34746.63 225.34 305.85 (222.99) (624.87) (0.28) 0.01 14796.27 34121.76 225.06 305.86 1251.17 1251.41 68778.64 11.73 15.78 11.71 15.76 0.29 12.01 0.29 11.99 12.02 27.79 12.00 27.75

Notes:

1. The Unaudited Consolidated Financial Results and Segment Results were reviewed by the Audit Committee, and approved by the Board of Directors of the Company at its meeting held on 29th January, 2026.

2. The continuing significant brand building costs covering a range of personal care and branded packaged f d products are reflected under 'Other expenses' stated above and in Segment Results under 'FMCG[-] Others'.

3. 18,29,340 Ordinary Shares oft 1/- each were issued and allotted under the Company's Employee Stock Option Schemes during the quarter ended 31st December, 2025. Consequently, the issued and paid[-] up Share Capital of the Company stands increased tot 1252,89,59,771/[- ] as on 31st December, 2025.

4. Exceptional Items of Continuing Operations for the nine months ended 31st December, 2025 oft 266.50 Crores represents:

a) estimated one[-] time impact on recognition of past service cost oft 354.58 Crores. during the quarter ended 31st December, 2025 with respect to increase in liability of gratuity and compensated absences, primarily arising due to change in definition of wages pursuant to notifications issued by the Ministry of Labour & Employment dated 21st November, 2025 bringing into force the provisions of the Code on Wages. 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "New Labour Codes"). The Group continues to monitor the finalisation of rules by the Central and State Governments and clarifications from the Government on other aspects of the New Labour Codes and will account for such developments as needed.

b) receipt of t 88.08 Crores during the quarter ended 30th September, 2025 on final settlement of the insurance claim towards leaf tobacco stocks, which were destroyed due to fire at a third party owned warehouse in an earlier year.

1. Discontinued Operations represents operations of the Hotels Business of the Group (excluding ITC Grand Central, Mumbai) which was demerged pursuant to the Scheme of Arrangement amongst the Company and ITC Hotels Limited and their respective shareholders and creditors under Sections 230 to 232 read with the other applicable provisions of the Companies Act, 2013 ('the Scheme') w.e.f 1st January, 2025, being the Appointed Date and the Effective Date of the Scheme.

Brief particulars of the Discontinued Operations are given as under:

Brief particulars of the Discontinued Operations are given as under:	Brief particulars of the Discontinued Operations are given as under:	Brief particulars of the Discontinued Operations are given as under:	Brief particulars of the Discontinued Operations are given as under:	Brief particulars of the Discontinued Operations are given as under:	Brief particulars of the Discontinued Operations are given as under:	Brief particulars of the Discontinued Operations are given as under:
fin Croresl
Sr. No.	Particulars	3 Months ended 31.12.2025	Corresponding 3 Months ended 31.12.2024	Preceding 3 Months 9 Months ended ended 30.09.2025 31.12.2025	9 Months ended 31.12.2024	Twelve Months ended 31.03.2025
		(Unaudited)	(Unaudited)	(Unaudited) (Unaudited) - - - - - - - - - - - - - - - -	(Unaudited)	(Audited)
a b C d e f g h	Revenue from Operations Total Income Total Expenses Share of Proft/ (Loss) of Associates and Joint Ventures Profit Before Exceptional Items And Tax (b-c+d) Exceptional Items Tax Expenses Profit from Discontinued operations (e+f-g)	- - - - - - - -	1013.28 1028.45 741.57 3.53 290.41 (12.18) 74.79 203.44		2484.58 2484.58 2517.16 2517.16 2002.67 2002.67 11.35 11.35 525.84 525.84 (16.37) 15128.81 146.07 638.64 363.40 15016.01

1. The amalgamation of Sresta Natural Bioproducts Private Limited (SNBPL) and Wimco Limited, wholly owned subsidiaries, with the Company was approved by the Board of Directors on 1st August, 2025. Necessary petitions seeking sanction of the National Company Law Tribunal, Kolkata and Hyderabad Benches, to the said amalgamation have been filed and is pending approval.

The fair values of assets and liabilities on acquisition of SNBPL and its subsidiaries Fyve Elements LLC, USA and Sresta Global FZE, UAE have been provisionally determined and recorded in accordance with Ind AS 103 on 'Business Combinations' and are reflected in 'FMCG[-] Others' segment. The financial results of the Group and 'FMCG[-] Others' segment include those of SNBPL and its subsidiaries with effect from 13th June, 2025. Accordingly, results of the quarter and nine months ended 31st December, 2025 are not comparable with previous periods.

1. Prag Agro Farm Limited has ceased to be a wholly owned subsidiary of the Company with effect from 10th December, 2025, consequent to its voluntary liquidation.

2. The Board of Directors of the Company have declared an Interim Dividend oft 6.50 per Ordinary Share oft 1/[- ] each (2025[-] t 6.50 per Ordinary Share). The Record Date fixed for the purpose of determining entitlement of the Members for the Interim Dividend is Wednesday, 4th February, 2026, and such Dividend will be paid between Thursday, 26th February, 2026 and Saturday, 28th February, 2026 to those Members entitled thereto.

3. This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Limited Review

The Company is required to file its financial results with the relevant stock exchanges as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Accordingly, the financial results have been subjected to Limited Review by the statutory auditors of the Company, who have issued an unmodified report on the same.

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

Particulars 1. Segment Revenue a) FMCG- Cigarettes - Others Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Less : Inter-segment revenue						(f in Crores)
				CONSOLIDATED
			3 Months ended 31.12.2025	Corresponding Preceding 3 Months 3 Months 9 Months ended ended ended 31.12.2024 30.09.2025 31.12.2025		Twelve 9 Months Months ended ended 31.12.2024 31.03.2025
			(Unaudited)	(Unaudited)	(Unaudited) (Unaudited)	(Unaudited) (Audited)
			9681.08 6109.58 15790.66 3859.04 2203.03 1303.76 23156.49 1578.91	8944.83 5427.70	9414.34 28649.28 6059.12 17969.14	26664.91 35893.57 16511.79 22015.12
				14372.53 3626.01 2144.86 1121.33	15473.46 46618.42 4037.80 17620.68 2220.32 6539.97 1244.62 3730.97	43176.70 57908.69
						16469.15 20163.79 6235.89 8424.58 3123.12 4288.11
				21264.73	22976.20 74510.04	69004.86 90785.17
				1124.58	1928.75 8877.52	8238.51 9842.41
Gross Revenue from sale ofproducts and serices			21577.58	20140.15	21047.45 65632.52	60766.35 80942.76
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 un-allocable expenditure (Refer Note) iii) Exceptional items* Add: i) Share of Profit/ (Loss) of associates and joint ventures			5487.29 448.29	5191.43 320.64	5462.10 16448.32 438.72 1286.04	15688.78 21091.35 1244.05 1590.23
			5935.58	5512.07	5900.82 17734.36	16932.83 22681.58 1287.59 1540.30 688.15 883.11 466.11 670.73
			495.85 188.77 187.88	496.15 197.09 138.40	453.61 1384.13 181.39 521.56 182.65 525.41
			6808.08	6343.71	6718.47 20165.46	19374.68 25775.72
			19.47 (217.66) 354.58 102.39	9.82 (198.07) - 4.10 6536.06	20.05 55.99 (125.82) (780.29) (88.08) 266.50 66.36 237.51	34.15 45.06 (738.28) (1085.86) . . 12.01 110.42
Profit Before Tax fromcontinuing operations			6754.08		6978.68 20860.77	20090.82 26926.94
3. Segment Assets a) FMCG - Cigarettes - Others			11228.41 14282.01	9884.76 13509.14	11504.72 11228.41 15789.38 14282.01	9884.76 10584.67 13509.14 13016.19
Total FMCG b) Agri Business c) Paperboards, Paper & Packaging d) Others Total Discontinued Operations•• Unallocated Corporate Assets 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 Total Liabilities	Total FMCG Agri Business Paperboards, Paper & Packaging Others Total Discontinued Operations•• Unallocated Corporate Assets		25510.42	23393.90	27294.10 25510.42	23393.90 23600.86
			8347.07 10009.32 3099.16	7096.89 9980.24 2740.11 43211.14 12162.90 43812.18	9589.59 8347.07 10024.14 10009.32 3176.65 3099.16 50084.48 46965.97 . . 40718.18 50179.17	7096.89 7904.83 9980.24 9908.98 2740.11 2736.44 43211.14 44151.11 12162.90 . 43812.18 43939.57
			46965.97 . 50179.17 97145.14
				99186.22	90802.66 97145.14	99186.22 88090.68
			7331.33 2995.35	6037.08 2424.46	6594.16 7331.33 2921.35 2995.35	6037.08 5729.56 2424.46 2432.70
			10326.68	8461.54 1321.11 1412.91 1111.05	9515.51 10326.68 1589.24 1666.64 1323.41 1388.96 1038.14 1176.67	8461.54 8162.26 1321.11 2176.93 1412.91 1384.96 1111.05 1101.44
			1666.64 1388.96 1176.67 14558.95 . 6279.61
				12306.61 1660.70 3884.54	13466.30 14558.95 . . 5741.48 6279.61	12306.61 12825.59 1660.70 . 3884.54 4867.15
			20838.56	17851.85	19207.78 20838.56	17851.85 17692.74

• Refer note 4 to the Consolidated Financial Results.

• •• 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.

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)

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; FoodTech etc.

(3) Segment results of 'FMCG : Others' are after considering significant business development, brand building and gestation costs of Branded Packaged Foods businesses and Personal Care Products business.

Registered Office : Virginia House, 37 J.L. Nehru Road, For and on behalf of the Board Kolkata 700 071, India � Dated : 29th January, 2026 Director & c[L] • -�1 Officer I Chairman & Managing Director Place : Kolkata, India �(�;;��; 804345) (DIN : 00280529) Website: www.itcportal.com ~~I~~ E-mail: enduringvalue@itc.in ~~I~~ Phone: +91-33-2288 9371 I Fax: +91-33-2288 0655 ~~I~~ CIN : L 16005WB1910PLC001985

A l!:ndurlng Value ITC Limited

Extract of Unaudited Standalone and Consolidated Financial Results for the Quarter and Nine Months ended 31st December, 2025

		Standalone Consolidated		If in Croresl
	Pariculars
SI. No. 1 2 3 4 5 6 7 8 9 10 11		Corresponding 3 Months 9 Months 3 Months 3 Months ended ended ended ended 31.12.2025 31.12.2025 31.12.2024 31.12.2025 20431.36 62432.38 19376.86 22280.68 6958.88 20267.38 6545.61 7108.66 6685.05 20081.63 7073.57 6754.08 5088.83 15181.01 5421.36 5018.45 - 301.50 (12.18) 216.89 5088.83 15181.01 5638.25 5018.45 5162.27 15254.96 5914.59 5087.87 1252.90 1252.90 1251.17 1252.90 4.06 12.12 4.34 3.94 4 06 12.11 4.33 3.94 0.17 0.17 4.06 12 12 4.51 3.94 4.06 12.11 4.50 3.94 9 Months ended 31.12.2025 67932.50 21127.27 20860.77 15548.41 15548.41 15696.93 1252.90 12.22 12.21 12.22 12.21		Corresponding 3 Months ended 31.12.2024
	Total Income from continuing operations Net Profit I (Loss) for the period from continuing operations (before tax and Exceptional items) Net Profit I (Loss) for the period from continuing operations before tax (after Exceptional Items) Net Profit I (Loss) for the period from continuing operations after tax Net Profit I (Loss) for the period from discontinued operations (before tax and Exceptional items) Exceptional items of discontinued operations Net Profit I (Loss) from discontinued operations for the period after tax Profit for the period [4+7] Total Comprehensive Income for the period [Comprising Profit I (Loss) for the period (after tax) and Other Comprehensive Income (after tax)] Equity Share Capital Earings Per Share (of < 11- each) (not annualised): 1. Basic (for continuing operations)(<): 2. Diluted (for continuing operations)(<): 3. Basic (for discontinued operations) (<): 4. Diluted (for discontinued operations) (<): 5. Basic (for continuing and discontinued operations) (<): 6. Diluted(for continuingand discontinued operations) (<):			20945.82 6536.06 6536.06 4809.74 290.41 (12.18) 203.44 5013.18 5436.30 1251.17 3.79 3.78 0.16 0.16 3.95 3.94

Note:

a) The above is an extract of the detailed format of the Statements of Unaudited Standalone and Consolidated Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The unaudited 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 29th January, 2026. The complete Statements of Unaudited Standalone and Consolidated Financial Results are available on the Company's website at https:1/itcportal.comlinvestorslguarterly-results.html and on the websites of the National Stock Exchange of India Limited (www.nseindia.com) and BSE Limited (www.bseindia.com). The same can also be accessed by scanning the QR Code provided below.

(b) Exceptional Items of Continuing Operations for the nine months ended 31st December, 2025 of < 185.75 Crores in Standalone Financial Results and < 266.50 in Consolidated Financial Results represents .

i) estimated one-time impact on recognition of past service cost oft 273.83 Crores in Standalone Financial Results and t 354.58 Crores in Consolidated Financial Results during the quarter ended 31st December, 2025 with respect to increase in liability of gratuity and compensated absences, primarily arising due to change in definition of wages pursuant to notifications issued by the Ministry of Labour & Employment dated 21st November, 2025 bringing into force the provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "New Labour Codes"). The Group continues to monitor the finalisation of rules by the Central and State Governments and clarifications from the Government on other aspects of the New Labour Codes and will account for such developments as needed.

ii) receipt oft 88.08 Crores-during the quarter ended 30th September, 2025 on final settlement of the insurance claim towards leaf tobacco stocks, which were destroyed due to fire at a third party owned warehouse in an ea�ier year.

c) The Board of Directors of the Company have declared an Interim Dividend of < 6.50 per Ordinary Share of < 11- each (2025 - < 6.50 per Ordinary Share). The Record Date fixed for the purpose of determining entitlement of the Members for the Interim Dividend is Wednesday, 4th February, 2026, and such Dividend will be paid between Thursday, 26th February, 2026 and Saturday, 28th February, 2026 to those Members entitled thereto.

d) The Limited Review for the Standalone and Consolidated Financial Results, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has been completed by the statutory auditors of the Company, who have issued an unmodified report on the same which has been forwarded to the Stock Exchanges.

Registered Office Virginia House, 37 J.L. Nehru Road, Kolkata 700 071, India Dated : 29th January, 2026 Place : Kolkata, India

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----- Start of picture text -----

,, For and on behalf of the Board
�/
Chairman & Managing Director
1804345) (DIN 00280529)
·---·-- n ,..,_ -• '"�---:ial Officer
----- End of picture text -----

Website: www.itcportal.com I E-mail: enduringvalue@itc.in I Phone: +91-33-2288 9371 I Fax: +91-33-2288 06551 CIN : L 16005WB1910PLC001985

SR BC& COLLP Chartered Accountants

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

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

Review Report to The Board of Directors ITC Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results of ITC Limited (the "Company") for the quarter ended December 31, 2025 and year to date from April 01, 2025 to December 31, 2025 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act. 2013 as amended, 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 Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For SR B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003

per Arvind Partner Membership No.: 89802 UDIN: 26089802OZHIAM795 l Place: Kolkata Date: January 29, 2026

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S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block 'B', 3rd floor, Kolkata-700 016

SR BC& COLLP Chartered Accountants

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

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

Review Report to The Board of Directors ITC Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of ITC Limited (the "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 December 31, 2025 and year to date from April 01, 2025 to December 31, 2025 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, 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 Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review oflnterim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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

1. The Statement includes the results of the entities as mentioned in Annexure 1.

2. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

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SR BC & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block 'B'. 3rd Floor, Kolkata-700 016

SR BC& CO LLP Chartered Accountants

ITC Limited Page 2 of 4

1. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of twenty three subsidiaries, whose unaudited interim financial results include total revenues of Rs. 1,191.42 crores and Rs. 3,440.21 crores, total net profit after tax of Rs. 79.63 crores and Rs. 365.90 crores, total comprehensive income of Rs. 87.55 crores and Rs. 424.29 crores, for the quarter ended December 31, 2025 and the period ended on that date respectively, as considered in the Statement which have been reviewed by their respective independent auditors.

The independent auditor's reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement in respect of matters stated in para 6 above is not modified with respect to our reliance on the work done and the reports of the other auditors.

For S RB C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003

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per Arvind Sethi Partner Membership No.: 89802

UDIN: 26089802XRLEOF9394

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Place: Kolkata Date: January 29, 2026

SR BC& CO LLP Chartered Accountants

ITC Limited Page 3 of 4

Annexure-1 List of subsidiaries/associates/joint ventures

Subsidiaries

S. No.		Name Russell Credit Limited
1
2		Greenacre Holdings Limited
3 4	Technico Agri Sciences Limited Prag Agro Farm Limited (till December 09, 2025)
5	Pavan Poplar Limited
6	ITC lnfotech India Limited
7 8	ITC lnfotech Do Brasil LTDA. ITC lnfotech Limited, UK
9	ITC lnfotech (USA), Inc. lndivate Inc. ITC lnfotech GmbH ITC lnfotech France SAS ITC lnfotech Malaysia SON. BHD. ITC lnfotech de Mexico, S.A. de C.V. ITC lnfotech Arabia Limited ITC lnfotech Italia s.r.l. Blazeclan Technologies Private Limited, India Cloudlvtics Technologies Private Limited, India Blazeclan Technolooies Ptv. Limited, Australia Blazeclan Technologies Limited, New Zealand Blazeclan Americas Inc., USA Blazeclan Technologies Pte. Limited, Singapore
10 11
12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
	Blazeclan Technologies SON. BHD., Malaysia Blazeclan Technologies Corporation, Philiooines Blazeclan Europe SRL., Belgium Blazeclan Technologies LLC, USA
27 28 29		Blazeclan Technologies Inc., Canada* Sresta Natural Bioproducts Private Limited
		Fyve Elements LLC, USA*
30 31	Sresta Global FZE, UAE*
	Technico Ptv Limited
32	Technico Technologies Inc. Technico Asia Holdings PtLimited
33 34 35
		Technico Horicultural (Kunming) Co. Limited* ITC Integrated Business Services Limited
36		MRR Tradino & Investment Company Limited*
37		Gold Flake Corporation Limited
38	Sura Nepal Private Limited
39	Sura Nepal Ventures Pvt. Ltd.* North East Nutrients Private Limited
40
41		Wimco Limited ITC lndiVision Limited
42
43		ITC Fibre Innovations Limited

*Represents step-down subsidiaries

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SR BC & CO LLP

Chartered Accountants

ITC Limited Page 4 of 4

Associates

S. No. 1	Name
	A TC Limited #
2	Divya Management Limited # AntranQ Finance Limited # Russell Investments Limited # Delectable Technologies Private Limited (till May 12, 2025)
3
4 5
7 8 9	Mother Sparsh Baby Care Private Limited Sproutlife Foods Private Limited ITC Hotels Limited Ample Foods Private Limited

Represents associate of subsidiaries

Joint Ventures

S. No. Name

1 Logix Developers Private Limited 2 ITC Filtrona Limited'

' Joint venture of a subsidiary

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