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

21st May, 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,

Audited Financial Results - Media Statement and Presentation

Further to our letter dated 21st May, 2026 forwarding the Audited Financial Results of the Company for the Quarter and Twelve Months ended 31st March, 2026, 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
KUMAR
SINGHI

Digitally signed by
RAJENDRA KUMAR
SINGHI
Date: 2026.05.21
15:44:30 +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 : [email protected]

A
Enduring Value

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

ITK Enduring Value

ITC Limited
Virginia House
37 J. L. Nehru Road
Kolkata, 700 071, India
Tel.: 91 33 2288 9371
Fax: 91 33 2288 4016 / 1256 / 2259 / 2260

Media Statement

May 21, 2026

Financial Results for the Quarter and Year ended 31st March, 2026

Highlights

Board recommends Final Dividend of Rs. 8.00 per share. Including Interim Dividend of Rs. 6.50 per share paid on 27th February, 2026, Total Dividend for the financial year ended 31st March, 2026 amounts to Rs. 14.50 per share (FY25: Rs. 14.35 per share).

Standalone

Q4: Strong performance amidst supply chain disruptions & logistical challenges due to ongoing West Asia conflict; Gross Revenue up 17.5% YoY
FMCG delivers robust Revenue growth of 15% YoY
Continued improvement in Paper segment performance; profits up 21% YoY & 24% QoQ
Agri Business performance includes timing impact due to deferral of sales amidst West Asia conflict
Overall EBITDA up 7.3% YoY (ex-Agri up 9%); PAT up 5% YoY.
Full Year: Gross Revenue up 10.1% YoY; EBITDA up 4.9% YoY (ex-Paper up 6% YoY).
Amalgamation of Wimco Limited (Wimco) and Sresta Natural Bioproducts Private Limited (Sresta) given effect to from respective appointed dates (Wimco: 1st April, 2025; Sresta: 13th June, 2025).

Consolidated

Strong performance by Group entities - ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited
Q4: Gross Revenue up 17.1% YoY and EBITDA up 6.9% YoY (ex-Agri up 8% YoY)
Full Year: Gross Revenue up 10.3% YoY and EBITDA up 5.4% YoY (ex-Paper up 6% YoY).
ITC sustained its ‘AA’ rating by MSCI-ESG for the 8th successive year. The Company has also been included in the Dow Jones Sustainability Emerging Markets Index for the 6th 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.

PERFORMANCE HIGHLIGHTS

Robust performance in FMCG-Others: Q4 Segment Revenue up 15% YoY (14% YoY ex-Sresta) & Segment Results up 51% YoY; EBITDA margin up ~200 bps YoY to 11% (ex-Sresta)
Full Year: Segment Revenue up 10.1% YoY (ex-Notebooks up 11.3% YoY), Segment Results up 14% YoY
Strong growth across categories viz. Staples, Biscuits, Snacks, Frozen Snacks, Noodles, Dairy, Premium Personal Wash, Homecare & Agarbatti
Smart rebound in Notebooks in H2 amidst continued low-priced paper imports & opportunistic play by local/regional players
Premium portfolio and New Gen Channels continue to perform well
Sustained competitive levels of trade & marketing investments to support growth and market standing
Robust growth momentum continues in Digital-first & Organic portfolio – up ~60% YoY; ARR² clocking over Rs. 1350 cr.

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

Visit us at www.itcportal.com ● Corporate Identity Number : L16005WB1910PLC001985 ● e-mail : [email protected]

Sharp surge in prices of key input materials (viz. edible oil, soap noodles, packaging inputs etc.) towards the end of the quarter amidst West Asia conflict; being proactively mitigated through focused market interventions, supply chain agility, cost management and judicious pricing actions.
Unprecedented increase in taxes on Cigarettes w.e.f. 1st February, 2026; transition to new tax structure during the quarter
Full Year: Net Segment Revenue up 8.2% YoY and Segment Results up 5.1% YoY – Strong performance till Jan’26 driven by strategic portfolio & market interventions
It may be recalled that relative stability in taxation over the past few years, coupled with deterrent enforcement actions, enabled the legal cigarette industry to recover volumes lost to illicit trade during the years of high incidence of taxation. This also resulted in the concomitant increase in demand for Indian tobaccos, bolstering revenue to the Exchequer from the tobacco sector
As seen in earlier years, punitive taxes on the legal cigarette industry have resulted in rapid growth of illicit cigarette trade. India is already the 4th largest illicit cigarette market globally according to Euromonitor estimates. It is estimated that illicit cigarette trade causes a loss of appx. Rs. 23,000 cr. p.a. to the Exchequer and accounting for about 1/3rd 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
The recent unprecedented increase in tax incidence on cigarettes will enhance the tax arbitrage opportunities for unscrupulous players and potentially provide further impetus to illicit trade and adversely impact millions of farmers, MSMEs, retailers, local value chains nurtured by the industry, thereby sub-optimising the revenue potential of the tobacco sector
Strategic approach adopted to mitigate impact of unprecedented increase in tax incidence:
Staggered and agile pricing actions to minimise risk of significant volume shift to illicit trade & consequent revenue loss to the Exchequer
Re-architecting the product portfolio leveraging diverse range of powerful trademarks

The Business continues to respond with speed & agility and has taken several steps in the past couple of months to fortify its portfolio and sustain market standing.

Note: As a result of significant changes in the taxation structure for cigarettes w.e.f. 1st February 2026, Gross Revenue and Excise Duties, for the quarter & the full year, are not strictly comparable with those of the previous year.

Agri Business Segment performance reflects impact of Geopolitical disruptions, timing difference, and high base
Full Year: Segment Revenue up 3% (2 Yr. CAGR 13%)
Exports relatively subdued during the quarter due to West Asia conflict led disruptions; continued focus on market development and scaling up business leveraging structural capabilities (sourcing, processing, customer relationships)
Rapid scale up in exports of Nicotine & Nicotine derivative products during the quarter leveraging state-of-the-art³ facility at Mysuru.
Paper Segment performance continues to improve; Q4 Profits up 21% YoY and 24% QoQ
Partial relief to industry with the imposition of Minimum Import Price (MIP) on Virgin Multi-layer Paperboard effective 22nd August, 2025 leading to progressive decline in low-priced imports
Wood prices witnessed moderation amidst improved availability
Strong growth in Specialty Papers segment led by Décor paper
Industry continues to represent to policy makers for sustained safeguard measures in respect of low-priced imports of paperboards and coated/uncoated paper
Packaging and Printing Business witnessed robust growth during the quarter driven by Cartons portfolio.

3 Set up by ITC IndiVision Ltd. – a wholly owned subsidiary of the Company

MACRO ECONOMIC CONTEXT

Global growth improved marginally from 3.3% in 2024 to 3.4% in 2025⁴, albeit remaining appx. 30 bps below the pre-pandemic average of 3.7% p.a. (2010–19). Growth in 2025 was supported inter alia by sustained AI-led investment in technology, accommodative fiscal and monetary policies and relatively favourable financial conditions, largely offset by headwinds from high trade barriers and heightened global uncertainty.

India continued to be one of the fastest-growing major economies in FY26, with Real GDP growth of 7.6% (vs 7.1% in FY25) as per RBI estimates. Domestic economic activity remained resilient, particularly in the second half of the year, supported by private consumption, improving rural and urban demand conditions, income tax rate cuts, GST rate rationalisation and monetary easing. Headline inflation eased in the first half of the year, driven by benign food inflation supported by higher domestic production and favourable monsoons. However, inflation (CPI) firmed up in the second half, reaching 3.4% in March 2026, reflecting uptick in food prices and higher global energy prices following disruptions in West Asia.

India’s macroeconomic outlook remains relatively resilient with Real GDP projected to grow by 6.9% in FY27 as per RBI estimates. The economy is well poised for rapid growth over the medium term, supported by structural drivers such as a favourable demographic profile, rising affluence, rapid urbanisation, accelerated digital adoption and improved infrastructure & connectivity. Bilateral trade deals negotiated recently with the US, UK, the EU, New Zealand and Oman augur well for India’s overall growth outlook.

The ongoing West Asia conflict has heightened concerns around India’s energy security and imported inflation. A prolonged disruption, coupled with emerging El Niño conditions that could weaken monsoons and intensify heatwaves, poses risks to growth, inflation and the Current Account. These factors may also have second-order impacts on consumer sentiment and demand conditions and remain key monitorables in the near term.

OVERALL COMPANY PERFORMANCE

The Company delivered a resilient performance during the year amidst a challenging macroeconomic and operating environment. Overall, for FY26, Gross Revenue at Rs. 80867.49 cr. increased by 10.1%, while EBITDA increased by 4.9% to Rs. 25208.22 cr. In the second half of the year, Gross Revenue and EBITDA grew by 12.2% and 7.5%, respectively. Profit Before Exceptional items and Tax for the year stood at Rs. 26951.47 cr. Earnings Per Share for the year stood at Rs. 16.20 (previous year Rs. 16.07).

CORPORATE ACTIONS

Final Dividend

The Board of Directors of the Company have recommended to the shareholders for their approval a Final Dividend of Rs. 8.00 per share for the financial year ended 31st March, 2026. Together with the Interim Dividend of Rs. 6.50 per share paid on 27th February, 2026, the total Dividend for the financial year ended 31st March, 2026 amounts to Rs. 14.50 per share (previous year: Rs. 14.35 per share). Total cash outflow on account of Dividend (including Interim Dividend of Rs. 8144.00 cr. paid in February 2026) will be Rs. 18167.57 cr.

During the year, the Company acquired 100% shareholding in Sresta Natural Bioproducts Private Limited, an Indian company primarily engaged in the business of manufacture and sale of organic packaged food products under the brand name ‘24 Mantra Organic’ in the domestic as well as international markets, directly and through its two wholly owned subsidiaries abroad, namely Fyve Elements LLC in the USA and Sresta Global FZE in the UAE. Sresta is a pioneer in the domestic organic foods space and is amongst the leading players in organic packaged staples category in India. Sresta has a strong network of appx. 27,500 farmers spread across appx. 1.4 lakh acres of land in India for sourcing of organic raw materials and has multiple processing facilities.

FMCG – OTHERS

The FMCG – Others Segment delivered a strong performance during the year, with double-digit revenue growth driven by broad-based scale up across categories, notwithstanding heightened competitive intensity. The Business sustained competitive levels of trade and marketing investments to support growth and market standing. Nearly 100 new products, anchored on the vectors of Health & Nutrition, Hygiene, Protection & Care, Convenience & On-the-Go and

⁴ As per IMF WEO April 26

Indulgence, were launched across target markets during the year, drawing upon the R&D platforms of the Company's Life Sciences and Technology Centre (LSTC) and agile product development teams across Businesses.

'Always on' digital marketing technologies and platforms are being increasingly leveraged to sharpen customer acquisition & demand generation and deepen consumer engagement. Several impactful and clutter-breaking campaigns were launched during the year: these include the 'Dear Maa' campaign for 'Sunfeast Mom's Magic' (championing child adoption as a meaningful social change initiative), 'Dil se Karo Baat, Bhagwan Ke Saath' for 'Mangaldeep' (which celebrates one's divine connection with God), etc., which widely resonated with consumers.

The Company's smart omni-channel distribution network, with tailored channel-specific assortments, continues to sharp target opportunity areas through superior product availability and visibility. The Go-to-Market strategy continues to be strengthened through focused investments aimed at enhancing distribution infrastructure and driving deeper market penetration. The Company also continues to improve last-mile efficiency and productivity by leveraging digital interventions powered by AI/ML and GenAI technologies. In rural markets, direct coverage enhancement was supported through a hub-and-spoke distribution model and extensive rural stockists network to deepen reach across priority markets. The Company's digitally powered eB2B platform – UNNATI continues to be scaled up during the year covering more than 8 lakh outlets facilitating sharp and direct engagement with retailers, superior analytics and personalised hyperlocal recommendations facilitating deeper brand engagement.

The Business witnessed robust growth in NewGen channels on the back of sharp execution of channel-specific joint business plans, collaborations, format-based assortments and category-specific sell-out strategies. Digitally enabled sales have grown rapidly in recent years and, together with Modern Trade, now account for 34% of the Company's Branded Packaged Foods, Personal Care Products and Incense Sticks (Agarbattis) and Safety Matches sales.

In line with the ITC Next Strategy of building a future-ready portfolio, accelerating growth and enhancing competitiveness, the Company has in recent times undertaken several value-accretive acquisitions in the digital-first and organic space, viz. M/s Sresta Natural Bioproducts (24 Mantra Organic Foods), Sproutlife Foods (Yogabar), Mother Sparsh Baby Care (Mother Sparsh) and Ample Foods (Prasuma & Meatigo), which delivered robust growth of ~60% during the year and together are clocking ARR over Rs. 1350 cr.

Over the years, the Company has made significant investments in setting up state-of-the-art Integrated Consumer Goods Manufacturing and Logistics facilities (ICMLs) proximal to large demand centres. Currently, 12 ICMLs are operational enabling delivery of fresher products, reduction in distance to market and delayering of operations. Further, the Company continues to leverage the benefits of the state-of-the-art Ancillary Manufacturing cum Logistics Facilities (AMLFs) at Pudukkottai and Kapurthala. These automated facilities are co-located with the ICMLs and provide several structural advantages including inventory optimisation, delayering operations and lowering cost of market servicing.

Branded Packaged Foods Businesses

The Branded Packaged Foods Businesses remain focused on addressing emerging consumer needs through innovations anchored on the vectors of health, nutrition, wellness, immunity, naturals, indulgence and convenience. The Company's institutional strengths, viz. superior consumer insights, robust distributed manufacturing & omni-channel distribution architecture, capabilities of the Company's Life Sciences and Technology Centre (LSTC) and cuisine expertise resident in ITC Hotels Limited, a group entity, enabled the Business to effectively navigate uncertainty and volatility in the operating environment and elevated commodity prices.

Key highlights of the Branded Packaged Foods Businesses are given below:

In the Staples Business, 'Aashirvaad' sustained its strong growth momentum and enhanced market standing across segments and geographies. The value-added portfolio, consisting of Multigrain, Select and Sugar Release Control Atta posted robust growth, driven by superior value propositions. The portfolio was further augmented with the launch of 'Aashirvaad High Protein Atta', (in line with the growing consumer preference for protein-centric offerings) which has received encouraging consumer response. Value-added adjacencies, viz. 'Atta with Millets', 'Gluten Free Flour', 'Ragi Flour', Organic portfolio of 'Organic Atta' and 'Organic Dals', 'Aashirvaad Vermicelli', 'Aashirvaad Rava' (Suji Rava, Bansi Rava, Samba Rava), 'Aashirvaad Soya Chunks' witnessed robust growth. 'Aashirvaad Besan' was extended to additional markets and continued to scale up during the year. 'Ready to Cook Chapati' and 'Frozen Naans/Parathas', which address the growing need for convenience, witnessed accelerated growth.

5 Amalgamated with the Company w.e.f 13th June, 2025

Value Added variants and Staples Adjacencies continue to scale up rapidly (~1.7x over 2 years) and now comprise ~16% of Aashirvaad Staples portfolio.

‘Aashirvaad’ Salt sustained its strong growth momentum in focus markets, supported by its distinctive positioning – ‘Iodine Assured salt for a Smarter India’. Premium offerings such as ‘Aashirvaad Himalayan Pink Salt’, scaled up in top metros, while the recently launched ‘Aashirvaad Iron Shakti Salt’ is witnessing encouraging consumer traction.

In the Spices category, the ‘Sunrise’ brand delivered robust growth and strengthened its market leadership position in the core market of West Bengal, while making steady progress in Northeast, Bihar and Jharkhand markets. The brand continued to strengthen its regional credentials through the introduction of first-to-market, differentiated offerings tailored to local palates, including ‘Sunrise Til Chicken’ in Assam and ‘Sunrise Champaran Mutton Masala’ in Bihar. The portfolio was augmented with launch of novel products such as ‘Sunrise Prawn curry Masala’ and ‘Sunrise Chicken Tikka Masala’ enhancing relevance among new-age consumers. ‘Aashirvaad’ Spices continued to consolidate its leadership position in its core markets of Andhra Pradesh and Telangana, supported by a clear focus on quality-led differentiation, hyper-local portfolio, and culture centric marketing.

‘Sunfeast’ Biscuits and Cakes delivered strong performance during the year on the back of powerful brand propositions, differentiated offerings and deep consumer connect. The Dark Fantasy range of differentiated cookies continued to strengthen its leadership position in the premium segment and is now the No. 1 overall biscuits brand in the Modern Trade channel. The ‘Mom’s Magic’ range of cookies recorded healthy growth during the year. The portfolio was further strengthened with the launch of ‘Sunfeast Mom’s Magic Shines’, which has elicited strong consumer response. The Business also launched a delectable range of super premium cookies with globally sourced ingredients under ‘Sunfeast Baked Creations’ brand to address emerging niche spaces in the Quick Commerce channel. These products have received encouraging response from discerning consumers.
‘Bingo!’ Snacks delivered resilient performance during the year while strengthening its product portfolio with the launch of exciting variants of snacks/namkeens. The portfolio was augmented with the introduction of two exciting flavour innovations - ‘Himalayan Pink Salt’ and ‘Butter & Garlic’ potato chips. The Business fortified its portfolio with the launch of three exciting variants of Baked Puffs under ‘XXX’ range - ‘Chilli Cheese’, ‘Hot & Spicy Korean Style’ and ‘Hot & Sweet’. ‘Bingo! Kitchen Style’ - a premium range of South Indian snacks was introduced during the year, bringing authentic flavours inspired by regional snacking traditions. These new launches have all received encouraging consumer responses.
‘YiPPee!’ Noodles sustained its position as a strong No. 2 brand in the Instant Noodles segment delivering strong growth. The product portfolio was augmented with premium Pan Asian range of noodles comprising of 3 variants, ‘Gochujang’, ‘Tom Yum’ and ‘Yaki Udon’, offering international flavour experience.
In the Dairy category ‘Aashirvaad Svasti’ fresh dairy portfolio sustained its high growth trajectory, led by its premium milk variant ‘Select’ and significant growth in value-added products such as Curd, Paneer, Mishti Doi and Lassi. The fresh dairy portfolio is currently available across Bihar, West Bengal & Jharkhand markets.
Frozen Foods Category, operating under the brands ‘ITC Master Chef’ and ‘Farmland’, delivered strong growth during the year, powered by a range of delicious & innovative offerings designed to meet consumer needs across ‘any time’ snacking and meal occasions. The portfolio now comprises of over 80+ products, spanning Indian and western snacks, frozen breads, prawns & vegetables, providing consumers with a comprehensive and convenient frozen foods range. Together with the wide range of offerings from Ample Foods Private Limited (an associate company operating under the ‘Prasuma’ & ‘Meatigo’ brands), the Frozen foods portfolio straddles multiple cuisines, viz. North Indian, Pan Asian, Oriental etc.

Personal Care Products

The Personal Care Products Business continued to strengthen its core strategic levers of building brands with purpose, driving first-in-category innovation and investing in categories of the future. During the year, the Business delivered strong growth in NewGen channels anchored on distinctive brand propositions and scale up of premium portfolio.

In the Personal Wash segment ‘Fiama’ sustained its strong growth trajectory, in both gel bars and shower gels. The recently launched Fiama Moisturising Bars with ‘Japanese Hokkaido Milk’ scaled up rapidly, supported by differentiated sensorial positioning and clinically proven skin-barrier benefits. The brand further augmented its portfolio with the launch of body scrubs and leveraged digital-first creator partnerships to drive trial and adoption. The ‘Vivel’ portfolio recorded acceleration in growth in the soaps category, particularly in the second half of the year.

The brand continued to reinforce its core aloe vera proposition and also launched natural ingredient based Handwash liquids, in line with emerging consumer preferences.

'Savlon' delivered strong performance, driven by sustained momentum across handwash and soaps category along with value-added offerings including disinfectant liquid, sprays and wipes. Building on its strong equity in germ protection, the brand has continued to evolve towards a broader proposition of 'caring protection', aimed at expanding usage occasions and enabling sustained growth.

In the Fragrance category, 'Engage' gained strong momentum in premium offerings, supported by the launch of 'Engage Brazilian Maracuja EDPs' and accelerated growth across e-Commerce and Quick Commerce. Assorted perfume packs were scaled to address diverse consumer moods and occasions. During the year, the brand also entered the growing roll-on segment with differentiated anti-perspirant offerings featuring Fresh-Encap technology, strengthening its engagement with younger consumers through high-impact digital campaigns and influencer advocacy.

In the Home Care segment, the 'Nimyle' range of products continued to build upon a differentiated proposition in the floor cleaner category anchored in its promise of '100% natural action with no chemical residue', offering germ protection that is safe for kids and pets. During the year, the brand sustained healthy growth, with its strong natural credentials enhancing its brand equity, reinforced through its impactful proposition 'Gaadha Bhi, Asardar Bhi' - highlighting its high consistency and efficacy. The brand has been certified as GreenPro - an internationally recognised eco-label and endorsed by the World Neem Organization.

Education and Stationery Products

The Business delivered a resilient performance during the year in the backdrop of subdued realisations amidst deflationary conditions due to low priced paper imports and opportunistic play by local/regional players. Performance in the second half of the year improved significantly driven by focused interventions and calibrated pricing actions, with the flagship brand 'Classmate' consolidating its market leadership position in the Notebooks segment.

In keeping with its proposition of 'Enjoy Learning', the Classmate brand continues to provide differentiated offerings leveraging technology via eduGAMES Infinity, which provides students the opportunity to play and learn new skills. Further, drawing inspiration from the much-loved puzzles featured on the last page of Classmate notebooks, the brand introduced 'Design Discoveries' - a differentiated design-led engagement initiative aimed at enhancing consumer interaction with the brand. By blending creativity with engagement, Classmate aims to make learning more enjoyable while supporting cognitive development.

The 'Classmate Pulse' range of premium notebooks witnessed rapid growth driven by product innovation. The Paperkraft portfolio, a premium stationery offering for professionals, was further strengthened with the launch of a range of professional notebooks tailored for Quick Commerce channel. The Business sustained its leadership position on e-Commerce platforms through consistent availability of a wide assortment of products, backed by focused interventions to enhance consumer traction.

Incense Sticks (Agarbattis) and Safety Matches

The Incense Sticks (Agarbattis) category sustained its robust growth momentum during the year. The Company's flagship brand 'Mangaldeep' leveraged market opportunities and further strengthened its market standing across formats including agarbatti, dhoop and sambrani.

The Business continues to scale up its core portfolio and strengthen new launches to drive growth. During the year, Mangaldeep Nature was launched in two variants—Green Forest and Flower Valley—bringing nature-inspired fragrances to consumers. Further, the Business continued to augment its agarbatti portfolio with modern fragrances through sub-brands such as 'Scent' and 'Nature', in line with evolving consumer preferences for contemporary and fine-fragrance inspired offerings.

The Mangaldeep range of dhoop was augmented with the launch of two innovative variants in Premium Wet Dhoop — 'Kesar Kumkum' and 'Black Musk'.

Catering to the emerging wellness segment, the Business launched a premium aromatherapy range under the brand 'Pranah', comprising scented candles, incense sticks and cones. The range harmonises natural inspiration with science-backed wellness propositions. These launches elicited encouraging response from discerning consumers.

The Business 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, the initiative received recognition as a Guinness World Record Event.

Over the years, the brand has built a range of products on a differentiated consumer proposition of long-lasting fragrances. The Business has co-created these superior fragrances with the help of 200+ visually impaired fragrance evaluators as part of its ‘Mangaldeep Sixth Sense’ panel. Through this unique programme, Mangaldeep continues to foster inclusive growth while supporting livelihood opportunities empowering participants with dignity and pride.

In the Safety Matches industry, the Business strengthened its market leadership position by leveraging the brand ‘Homelites’, anchored in a differentiated positioning of stronger, longer and karborised sticks. The Business continues to scale up the share of value-added products in its portfolio and enhancing supply chain efficiency by sourcing products manufactured closer to markets.

FMCG – CIGARETTES

The Business continues to make strategic portfolio and market interventions, with focus on competitive belts and to counter illicit trade and reinforce market standing. The Business fortified its presence in focus markets with the launch of several differentiated offerings across segments, demonstrating agility in responding to evolving market dynamics. Several innovative variants have been introduced recently under the ‘Classic’, ‘Gold Flake’, ‘American Club’ and ‘Players’ trademarks, amongst others.

During the year, the Business delivered a resilient performance on the back of sustained volume-led growth momentum. Differentiated and premium offerings continued to perform well leveraging mainstream trademarks and innovation. Consumption of high-cost leaf tobacco inventory weighed on margin, which was partially mitigated through a combination of product mix enrichment and strategic cost management interventions.

A punitive and discriminatory taxation / regulatory regime over the years has led to significant operating challenges for the legal cigarette industry in the country. It may be recalled that, relative stability in taxation over the past few years, coupled with deterrent enforcement actions, checked the growth of illicit trade and enabled the legal cigarette industry to recover lost volumes. This also resulted in the concomitant increase in demand for Indian tobaccos and bolstering revenue to the exchequer from the tobacco sector.

However, increase in GST rate from 28% of transaction value to 40% of retail sale price along with a steep hike in excise duties w.e.f 1st February, 2026 upon phasing out of Compensation Cess, have resulted in an unprecedented increase in tax incidence on cigarettes.

The extremely stringent regulations along with the discriminatory and steep taxation on cigarettes have had numerous negative, albeit unintended repercussions. These include rapid growth in illicit cigarette volumes, resulting in sub-optimisation of the revenue potential of the tobacco sector and significant loss to the Exchequer, large component of tobacco consumption remaining outside the tax net and persistently adverse impact on the livelihood of tobacco farmers.

The Business has adopted a strategic approach to mitigate the impact of the unprecedented increase in tax incidence and sustain its market standing. This includes, staggered and agile pricing actions to minimise the risk of a significant shift of volumes to illicit trade and consequent loss of revenue to the Exchequer, and re-architecting the product portfolio by leveraging a diverse range of powerful trademarks. The Business continues to respond with speed & agility and has taken several steps in the past couple of months to fortify its portfolio and sustain market standing.

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

The year ahead presents an extremely challenging operating environment in view of the unprecedented increase in taxation that will undoubtedly test the resilience and adaptability of legitimate players in the industry. Notwithstanding such challenges, the Company remains confident of fortifying its market standing in the legal cigarette industry leveraging its robust product portfolio of differentiated and premium offerings, strong innovation pipeline, world-class quality, integrated seed-to-smoke value chain, cutting-edge manufacturing & digital technologies and best-in-class in-market execution capabilities.

AGRI BUSINESS

The Agri Segment witnessed significant disruption during the year, triggered by sweeping tariff measures imposed by the United States, and climate-related supply uncertainties in key producing regions. Supply chain disruptions and logistical challenges, following the West Asia conflict towards the end of the year, led to deferrals of call-offs by certain customers. On the domestic front, the Government imposed stock limits and export restrictions on key agri-commodities to ensure food security which limited the opportunities for the Business.

Leaf Tobacco

The Business continued to leverage its strong customer relationships, crop development expertise, superior product quality, world-class processing facilities and globally recognised sustainability credentials to strengthen its position as a reliable partner for leading global customers. During the year, the Business consolidated its position as the largest Indian exporter of unmanufactured tobacco and increased its share of business with international buyers of Indian tobacco through focused business and crop development interventions.

The Business continues to set benchmarks in leaf threshing operations by leveraging technology and digital capabilities to enhance quality assurance, process consistency, compliance, traceability and productivity. Sustained investments continue to be made in the Company's Green Leaf Threshing (GLT) plants towards world-class quality, processing technology and capability upgrading. The electrical energy needs of all three GLTs are substantially met from renewable sources in line with the Company's low-carbon growth philosophy.

Digital tools such as AI/ML-powered real-time price discovery systems continue to be leveraged for facilitating efficient leaf tobacco buying across auction platforms. In addition, digitisation interventions are being scaled up in areas spanning crop development, sourcing, process optimisation and supply chain operations, which are expected to enhance operating efficiencies, while driving down cost in a structural manner.

In view of the significant increase in taxes on cigarettes, the domestic demand for leaf tobacco in the near term is expected to be subdued, weighing on the prospects of the key stakeholders of Indian tobacco industry viz., Indian farmers, leaf tobacco processors and exporters. The ongoing conflict in West Asia, together with oversupply in international markets, further exacerbates the already challenging operating environment.

In response to the near-term impact on its stakeholders, the Business is redoubling its efforts to accelerate exports growth through focused new business development, scaling up direct supplies to global buyers through a combination of range augmentation and ESG & sustainability leadership, to provide superior value proposition to customers,

The operations at the state-of-the-art facility to manufacture and export Nicotine & Nicotine derivative products, set up by the Company's wholly owned subsidiary, ITC IndiVision Limited, stabilised during the year. Plans are on the anvil to rapidly scale up business in the ensuing year.

Other Agri Commodities

Amidst a challenging operating environment, the Business leveraged its strong farm linkages, extensive sourcing expertise (viz. enabling traceable, attribute-based and identity-preserved sourcing of commodities), multi-modal logistics capability, agile supply chain operations, deep customer relationships, and focus on scale up of the Value-Added Agri Products (VAAP) portfolio, to deliver a resilient performance.

The strategic focus of the Business continues to be on rapidly scaling up its Value-Added Agri Products (VAAP) portfolio straddling multiple agri-value chains including spices, coffee, frozen marine products and horticulture products, amongst others; 1.4x over the last two years. Leveraging institutional strengths such as certified sourcing, advanced processing capabilities, customer-centric execution and digital platforms including ITCMAARS, the portfolio further strengthened its competitive position, while simultaneously building new growth vectors in high-velocity channels such as Quick Commerce, and organised retail.

The Business further strengthened its position as one of India's leading spice exporters supported by geographic diversification, domestic market expansion, and a strong focus on value-added and premium segments. Organic spices remained a key growth driver, with volumes more than doubling during the year, supported by certified cultivation programmes and deep backward integration.

Global coffee markets witnessed sharp price swings during the year, largely driven by the United States, a major consuming market, which imposed a 50% tariff on imports from Brazil, the world's largest producer. The Business leveraged its strategic sourcing presence in major coffee-growing regions of India and sharper focus on certified, sustainably sourced coffees to reinforce its position as one of the leading coffee exporters. The Business further strengthened its footprint across key international markets, particularly in Europe and the Middle East, by capitalising on its long-standing customer relationships, strong sustainability credentials and agile execution.

The Business continued to leverage its wide sourcing network, robust crop development initiatives and digital tools towards securing high quality wheat of critical grades to support the growing requirements of the 'Aashirvaad' atta portfolio. Digitally enabled sourcing capabilities supported scale and speed, while crop development efforts were intensified to improve climate resilience, enhance yields and secure premium varieties, thereby reinforcing product quality and consumer experience. Direct sourcing from FPOs through ITCMAARS has now scaled up to about 40% of the wheat sourced for Aashirvaad Atta and Agri Business, leading to significant procurement related efficiencies and

quality enhancement. During the year, the farmer-driven milk procurement network in Bihar, West Bengal and Jharkhand was strengthened to support the growing requirements of the Fresh Dairy portfolio under the 'Aashirvaad Svasti' brand. The Business continues to scale up sourcing of spices to meet the growing requirements of Sunrise and Aashirvaad brands.

Towards enhancing the competitiveness of domestic agri-value chains, strengthening market linkages and further augmenting value creation opportunities, the Company has successfully scaled up ITCMAARS – a crop-agnostic full stack AgriTech platform, together with a 'phygital' ecosystem across 11 states. Over 2,100 Farmer Producer Organisations (FPOs) encompassing appx. 2.3 million farmers have been added to the ITCMAARS network. By synergistically integrating NextGen agri technologies, this integrated ecosystem has the potential to unlock several evolving opportunities that can help reimagine the future of the agri sector and propel the Business to create new and scalable revenue streams, whilst also benefiting farmers.

PAPERBOARDS, PAPER & PACKAGING

The Indian Paper and Paperboard industry continued to operate in a challenging environment, characterised by cheap supplies, often below cash-cost levels, of paperboards and paper from China and Indonesia in global markets, including India, as well as weak demand conditions, resulting in subdued realisations. Wood prices remained elevated during the year, reflecting tight supply conditions. The cumulative impact of subdued realisations and sharp surge in wood costs, exerted pressure on margins. The Business partially mitigated these challenges by leveraging the structural strengths of its integrated model, accelerating value-led customer engagement, deepening digital-led productivity and quality interventions, and scaling up the portfolio of sustainable plastic-substitution solutions.

The imposition of a Minimum Import Price (MIP) on virgin multi-layer paperboard w.e.f. 22nd August 2025 provided partial relief to the industry, with declining import volumes supporting an uptick in net realisations in the latter half of the year. Additionally, wood prices showed signs of moderation in latter half of the year, aided by improved availability from sustained plantation and sourcing initiatives. Collectively, these factors led to a gradual recovery in operating performance during the second half of the year; Segment PBIT witnessed 21% YoY & 24% QoQ growth in Q4.

The Business sustained its leadership position in the Value-Added Paperboard (VAP) segment through focused innovations and development of customised solutions tailored for end-use industries. The Business also consolidated its leadership position in the eco-labelled products and premium recycled paperboards segments. Specialty Papers segment witnessed robust growth during the year driven by décor paper. Market standing in the segment continues to be driven by product mix enrichment and diversification of the customer base.

The Business continues to engage with policy makers to address key industry challenges including increasing wood availability through collaborative public-private plantation models to strengthen the competitiveness of domestic industry and address the rapid increase in low-priced imports of paper & paperboard into the country through sustained safeguard measures.

Packaging and Printing Business continues to serve leading customers across Food & Beverage, Personal Care, Home Care, Footwear, Consumer Electronics & Electricals, QSR, Pharma, Liquor, Tobacco and other end-use segments. Consistent performance on quality, reliability and competitiveness has strengthened its position as a preferred packaging partner to reputed FMCG companies.

The sustainable paperboards/packaging solutions portfolio witnessed strong growth during the year leveraging cutting-edge innovation platforms and has grown to appx. 2.3x over the last 4 years.

FRESH FOOD

As a new growth vector envisioned in the ITC Next strategy, the Fresh Food 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.

During the year, the Business strengthened its presence across the cuisine segments and markets in which it operates, supported by improving consumer traction. With sustained focus on superior and consistent food quality & service standards, the Business expanded its operating footprint to appx. 70 cloud kitchens and is now being progressively introduced across India. GMV has witnessed rapid growth during the year, doubling to appx. Rs. 220 cr.

The delectable range of cuisines being offered under four brands - 'ITC Master Chef Creations', 'ITC Aashirvaad Soul Creations', 'ITC Sunfeast Baked Creations' & 'Sansho by ITC Master Chef' is constantly being expanded and is witnessing increasing consumer traction. The brands are currently present in select metro markets and are offered through leading online food delivery platforms, consistently receiving top ratings and excellent consumer feedback.

CONTRIBUTION TO SUSTAINABLE DEVELOPMENT

In line with its superordinate goal of serving larger national priorities and creating value for all stakeholders, the Company's paradigm of 'Responsible Competitiveness' focuses on building extreme competitiveness in a manner that replenishes the environment and supports sustainable livelihoods.

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 24 years), 'carbon positive' (for 21 years), and 'solid waste recycling positive' (for 19 years). The Company sustained its 'AA' rating by MSCI-ESG for the 8th successive year and continued to feature in the Dow Jones Emerging Markets Index for the 6th 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. Water stress, a critical fallout of climate change, is being systematically managed by the Company's integrated water stewardship approach to champion water security for all stakeholders and address the twin issues of increasing water availability on the supply side while promoting efficient water usage inside operating units as well as at the catchment level.

The Company is advancing sustainable water management at the catchment level through adoption of the Alliance for Water Stewardship (AWS) Standard, a globally recognised framework. As of 31st March, 2026, 9 units are certified under AWS—all at Platinum level—positioning the Company as the second largest holder of AWS Platinum certifications globally.

Please refer link below for performance highlights of the quarter:

https://itcportal.com/content/dam/itc-corporate/pdfs/financial-result/quarterly-results-2025-2026/march-2026/ITC-Quarterly-Result-Presentation-Q4-FY2026.pdf

The Board of Directors, at its meeting on 21st May 2026, approved the financial results for the year ended 31st March 2026, which are enclosed.

( Nazeeb Arif )

Executive Vice President

Corporate Communications

Eniduring Value

Enduring Value

NATION FIRST: SAB SAATH BADHEIN

Q4 & FY26 Results

21st May, 2026

Forward-Looking Statements

Looking Vake

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.

| 2 |

Guildering Value

Macro Economic Context

| 3 |

India Macro Environment

Indian Economy remains resilient amidst heightened uncertainty in global environment

Underling Valley

Real GDP growth YoY

7.2

7.1

7.6

FY24

FY25

FY26E

Source: MOSPI

FY26 Real GDP growth estimated at 7.6% (FY25: 7.1%)
FY27 Real GDP projected to grow at 6.9% (RBI estimate)
West Asia conflict → heightened concerns regarding energy security and imported inflation
Prolonged conflict + El-Niño conditions → risks to growth, inflation & the Current Account

Macro Economic Environment

Enduring Value

Guided by Mastering Vision

Q4 FY26 Results

Headline Financials & Business Highlights

| 6 |

Key Highlights: FY26

Strong performance in FMCG

Rebound in Paper in H2

Mastering Voice

Consolidated

Gross Revenue	EBITDA
▲ +10.3%	▲ +5.4%
(Ex Paper +6%)

PAT

▲ +4.9%

Strong performance by Group entities (ITC Infotech, Surya Nepal & ITC Hotels)

Standalone

Gross Revenue	EBITDA
▲ +10.1%	▲ +4.9%
(Ex Paper +6%)

Total Dividend

Rs.14.5

per share

(Including Interim Dividend of Rs.6.5 per share)

Key Highlights: Q4 FY26

Strong performance amidst supply chain disruptions & logistical challenges due to West Asia conflict

Mastering Voice

Consolidated

| Gross Revenue
⚠️ +17.1% | EBITDA
⚠️ +6.9%
(Ex Agri +8%) |
| --- | --- |
| PAT
⚠️ +6.1% | |

Standalone

| Gross Revenue
⚠️ +17.5% | EBITDA
⚠️ +7.3%
(Ex Agri +9%) |
| --- | --- |
| PAT
⚠️ +4.9% | |

Key Highlights

Learning Value

Robust performance in FMCG – Others Segment; Double digit growth in Revenue & Profits

Q4: Segment Revenue up 15% YoY (14% YoY ex Sresta); Segment PBIT up 51% YoY
EBITDA margin +200 bps YoY to 11% (ex Sresta)
Full Year: Segment Revenue up 10%* YoY (ex Notebook 11% YoY); Segment PBIT up 14% YoY
Strong growth across categories viz. Staples, Biscuits, Snacks, Frozen Snack, Noodles, Dairy, Premium Personal Wash, Homecare, & Agarbattis
Smart rebound in Notebooks in H2, amidst continued cheap imports & opportunistic play by local/regional players
Premium portfolio and New Gen Channels continue to perform well
Robust growth momentum continues in Digital-first & Organic portfolio
up 60% YoY for the year; ARR^ clocking over 1,350 cr.
Including Sresta Natural Bioproducts Private Limited w.e.f 13th Jun, 2025

^Annual Revenue Runrate

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

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

Key Highlights

Learning Table

Cigarettes Business: Unprecedented increase in taxes w.e.f. 1st Feb'26; Transition to new tax structure

FY26: Net Segment Revenue* up 8.2% YoY & Segment PBIT up 5.1% YoY; Q4 Segment PBIT up 7.2% YoY
Strong performance till Jan'26 driven by strategic portfolio & market interventions
Strategic approach to mitigate impact of unprecedented increase in tax incidence
Staggered & agile pricing actions to minimise risk of significant volume shift to illicit trade & consequent loss to the Exchequer
Re-architecting the product portfolio leveraging diverse range of powerful Trademarks

Several steps taken in past couple of months to fortify portfolio & sustain market standing

Agri Segment performance reflects impact of Geopolitical disruptions, timing difference, & high base

Full Year: Segment Revenue up 3% YoY (2 yr CAGR +13%)
Exports relatively subdued during the quarter due to West Asia conflict led disruptions
Continued focus on market development & scaling up business leveraging structural capabilities (sourcing, processing)
Rapid scale up in exports of Nicotine products leveraging state-of-the-art facility at Mysuru^

*Net of Excise Duty/NCCD on Sales

^ITC Indivision Ltd (IIVL) – the Company's wholly owned subsidiary

Key Highlights

mentohr

Paperboards, Paper and Packaging: Continued Improvement in performance of Paper Segment continues

Q4: Segment PBIT up 21% YoY and 24% QoQ
Partial relief to industry with the imposition of MIP on Virgin Multi-layer Paperboard w.e.f 22nd Aug'25
Improvement in wood availability → moderation in prices in Q4
Industry continues to represent to policymakers for sustained safeguard measures w.r.t. cheap imports of Paperboards & coated/uncoated paper
Carton Packaging Business witnessed robust growth

Minimum Import Price (MIP)

ITC Next Strategy

Future Tech | Consumer Centric | Climate Positive | Inclusive

Multiple Drivers of Growth

Existing Platforms &

New vectors

Innovation and R&D

Agile

Purposeful

Science based platforms

Supply Chain

Agile

Resilient

Efficient

Digital

Digital first culture

Smart Eco System

Mainstreaming AI

Sustainability 2.0

Responsible

Competitiveness

Bolder ambition

Cost Agility &

Productivity

Structural interventions

across value chain

ITC Synergy

World-Class Talent | Proneurial Spirit | High Performance culture

Enduring Value

FMCG Cigarettes FY26

FMCG Cigarettes – FY26

Segment Revenue 37,100 cr. ▲ 13.7%

Segment Results 21,051 cr. ▲ 5.1%

Strong performance till Jan’26 driven by strategic portfolio & market interventions
Unprecedented increase in tax incidence on cigarettes w.e.f. 1st Feb’26
Strategic approach to mitigate impact of unprecedented increase in tax incidence
Staggered & agile pricing actions to minimise risk of significant shift of volume to illicit trade & consequent loss to the Exchequer
Re-architecting the product portfolio leveraging diverse range of powerful Trademarks

Business continues to respond with speed & agility and has taken several steps in the past couple of months to fortify its portfolio and sustain market standing

Note: As a result of significant changes in the taxation structure for cigarettes w.e.f. 1 February 2026, Gross Revenue and Excise Duties, for the quarter & the full year, are not strictly comparable with those of the previous year.

*Net of Excise Duty/NCCD on Sales

FMCG Cigarettes

Reinforcing market standing

Innovation

Classic Connect
American Club Clove Mint
Gold Flake Indie Mint

Portfolio Fortification

Gold Flake
Classic
Silk Cut Red
Scissors
Flake Spl

Recent Introductions/ New Variants

Classic Clove
Classic Refined Taste Sleek
Gold Flake Kings Sleek
Gold Flake Social 2-Pod
Gold Flake SLK Range
Gold Flake Snap Mint
Gold Flake Smart Pro
American Club Super Slims
American Club Fruity (RSFT)
Player Magic Mix
Capstan Clove
Wills Clove
Flake Insta Fresh
Flake Power Play
Gold Flake Kings Longs
Classic Longs
American Club Fruity Longs
Gold Flake Premium Deluxe
Scissors Deluxe
Players Minty Cool Deluxe
Wave Ice Mint Deluxe

1171

Enduring Value

FMCG Others Q4 FY26

Segment Revenue: +15%
Segment Results +51%
EBITDA margin @ 11% (ex Sresta)

FMCG Others – Q4 FY26

Robust Revenue Growth +15% YoY

Underway Table

Broad based growth across categories
Staples, Biscuits, Snacks, Frozen Snacks, Noodles, Dairy, Premium Personal Wash, Homecare & Agarbattis drive growth
Smart rebound in Notebooks in H2 amidst continued low-priced paper imports & opportunistic play by local/regional players
Robust growth in New Gen Channels
Sharp execution of business plans | Collaborations | Format-based assortments | Category-specific sell-out strategies

R. s. cr.

Digital-First & Organic Portfolio
Revenue up 60% YoY*;
ARR > 1,350 cr.

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

For the full year

FMCG Others

Segment PBIT up 51% YoY

EBITDA margin expand 200 bps YoY to 11% (ex Sresta)

Trade & marketing investments sustained at competitive levels to support growth and market standing
Sharp surge in prices of key input materials towards end of the quarter amidst West Asia conflict
Being proactively mitigated through → Focused market interventions | Supply chain agility | Cost management | Judicious pricing actions

Future-Ready Portfolio

Recent Launches

Mastering Value

Fortifying the Core

Sunfeast Farmlite
Sugar Free Choco Nut | Hazelnut
Oats Cookies

YiPPee!
Yaki Udon

Aashirvaad
Iron Shakti Salt

Sunrise
Saffron

Fiama
Niacinamide | Papain
Body Scrub

Engage
Brazilian Maracuja

Addressing Adjacencies

Bingo! Kitchen Style
Butter Murukku I
Madras Mixture I
Ribbon Pakoda

Aashirvaad
High Protein Atta

Mangaldeep
Bhimseni Camphor

Classmate Spectra
Geometry Box

Sunfeast Baked
Creations
French Style Butter
Cookies

New Growth Vectors

Yoga Bar
Protein Wafers
Cookies & Cream | Dark
Chocolate | Strawberry Pop

ITC Master Chef
Piri Piri Prawns

Sunfeast
Mango | Mixed Berry
Smoothie

Fabelle
Pecan Kunafa I
Pistachio Kunafa

UNDRA MINTZ

Ultra Mintz
Strong Peppermint |
Sensational Strawberry

Deepening Consumer Engagement

Enduring Value

Impactful Brand Integration

Fostering Inclusivity

Sustained Marketing Investments

Eadering Value

INTERDUCING

Sharpening Value Proposition

Enduring Value

Agri Business

Agri Business – Q4 FY26

Learning Value

Segment Revenue

Q4 FY26
3075 cr. ▼-15.7%

Segment Results

Q4 FY26
179 cr. ▼-29.6%

Agri performance reflects impact of geopolitical disruptions, timing difference & high base
Structural drivers in place for scaling up
Sourcing & Processing | Strong Customer relationships | New Market Development
Continued strategic sourcing support to Branded Packaged Foods & Cigarettes Businesses
Nicotine project^: Rapid scale up in exports leveraging state-of-the-art facility at Mysuru

^ITC IndiVision Ltd (IIVL) – the Company's wholly owned subsidiary

Enduring Value

Paperboards, Paper & Packaging

Paperboards, Paper & Packaging – Q4 FY26

Profits

↑21% YoY | ↑24% QoQ

Mastering Table

Segment Revenue

2228 cr. ▲ 1.8%

Segment Results

245 cr. ▲ 21.2%

Partial relief to industry with the imposition of MIP on Virgin Multi-layer Paperboard w.e.f 22nd Aug'25
Input cost witnessed moderation amidst improved wood availability
Strong growth in Specialty Paper led by Décor portfolio
Industry continues to represent for sustained safeguard measures on low-priced imports of paperboards and coated/ uncoated paper imports
Key Interventions: Accelerating plantations | Developing new areas
Robust growth in Packaging & Printing Business driven by Cartons portfolio

Sustainable Products Portfolio
FY22
FY26

MIP: Minimum Import Price

Enduring Value

Fresh Food Business

FY26 GMV ~220 cr.

Doubled YoY

Mastering Value

FY26

GMV

~ Rs. 220 cr.

Across 5 cities

70+

kitchens

New vector of growth envisioned in the ITC Next strategy
Leverages Company's expertise in Food Science & Manufacturing, trusted FMCG Food brands and Culinary expertise
Full-stack platform → Increasing consumer traction
Witnessed rapid growth → Being progressively introduced across India
25 Kitchens opened during the year
Consistently receiving top ratings & excellent consumer feedback

Fresh Food – Full Stack Platform

Strong Brands | Diverse Cuisines

Fastering Value

North Indian
Occasional
Daily
Comfort
Indulgent

World of Bakery
Baked Creations
Global formats, adapted for Indian Palate

Pan Asian
Gourmet Chinese, Thai & more!

| 28 |

Mastering Value
29

Financials

Key Financials – Standalone - FY26

ESBLAND PARK

Rs. Cr.	FY26	FY25	GOLY
Gross Revenue	80,867	73,467	10.1%
EBITDA	25,208	24,026	4.9%
PBT (bei)	26,951	26,002	3.7%
Exceptional Items	-184	528
PBT	26,768	26,530	0.9%
PAT	20,286	20,093	1.0%

Exceptional items:

CY:
(i) Est. one-time impact on recognition of past service cost of Rs.272 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;
(ii) Exceptional item of Rs.88 cr. (proceeds received 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).

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

bei – Before Exceptional Items

Key Financials – Standalone – Q4 FY26

Leasing Table

Rs. Cr.	Q4 FY26	Q4 FY25	GOLY
Gross Revenue	21,463	18,267	17.5%
EBITDA	6,426	5,987	7.3%
PBT	6,694	6,417	4.3%
PAT	5,113	4,875	4.9%

ex-Agri up 9% YoY

Key Financials – Consolidated – FY26

ESBL

Liability Rules

Rs. Cr.	FY26	FY25	GOLY
Gross Revenue	89,258	80,943	10.3%
PBT (bei)	28,325	26,927	5.2%
Exceptional Items	-292
PBT	28,033	26,927	4.1%
PAT	21,018	20,036	4.9%

EBITDA: +5.4% (ex-Paper up 6% YoY)

Strong performance by Group entities led by
ITC Infotech India Ltd, Surya Nepal Pvt Ltd and ITC Hotels Ltd

Exceptional items:

CY:
(i) Est. one-time impact on recognition of past service cost of Rs.380 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;
(ii) Exceptional item of Rs.88 cr. (proceeds received 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).

bei – Before Exceptional Items

Key Financials – Consolidated – Q4 FY26

ESBL

Rs. Cr.	Q4 FY26	Q4 FY25	GOLY
Gross Revenue	23,626	20,176	17.1%
PBT (bei)	7,198	6,836	5.3%
Exceptional Items	-25
PBT	7,173	6,836	4.9%
PAT	5,470	5,155	6.1%

EBITDA: +6.9% (ex-Agri up 8% YoY)

Strong 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.25 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

Segment Revenue & Results – FY26

Learning Value

Rs. cr.	Full Year
	FY26	FY25	YoY growth
Segment Revenue
a) FMCG - Cigarettes	37100	32631	13.7%
- Others	24210	21982	10.1%
Total FMCG	61309	54613	12.3%
b) Agri Business	20296	19754	2.7%
c) Paperboards, Paper & Packaging	8766	8423	4.1%
d) Others	342	169	101.7%
Total	90713	82959	9.3%
Less: Inter Segment Revenue	9846	9492	3.7%
Gross Revenue from sale of products and services	80867	73467	10.1%
Rs. cr.	Full Year
---	---	---	---
	FY26	FY25	YoY growth
Segment Results
a) FMCG - Cigarettes	21051	20025	5.1%
- Others	1803	1580	14.1%
Total FMCG	22854	21605	5.8%
b) Agri Business	1496	1478	1.2%
c) Paperboards, Paper & Packaging	797	911	-12.6%
d) Others	-8	66
Total	25139	24060	4.5%
Less: i) Finance Cost	70	36
ii) Other un-allocable (income) net of un-allocable expenditure	(1883)	(1979)
iii) Exceptional items	184	(528)
Profit Before Tax from Continuing Operations	26768	26530	0.9%

FMCG Others: Revenue up 11% YoY excl. Notebook

Agri Business: 2 Yr. CAGR +13%

Paper: Continued improvement in operational performance

Standalone Financials

Segment Revenue & Results – Q4 FY26

Listening Take

Rs. cr.	Q4
	FY26	FY25	YoY growth
Segment Revenue
a) FMCG - Cigarettes	11066	8400	31.7%
- Others	6304	5495	14.7%
Total FMCG	17370	13894	25.0%
b) Agri Business	3075	3649	-15.7%
c) Paperboards, Paper & Packaging	2228	2188	1.8%
d) Others	103	53	92.8%
Total	22775	19784	15.1%
Less: Inter Segment Revenue	1311	1518	-13.6%
Gross Revenue from sale of products and services	21463	18267	17.5%

Agri Business: Exports impacted due to West Asis conflict led disruptions

Rs. cr.	Q4
	FY26	FY25	YoY growth
Segment Results
a) FMCG - Cigarettes	5488	5118	7.2%
- Others	521	345	51.0%
Total FMCG	6009	5463	10.0%
b) Agri Business	179	255	-29.6%
c) Paperboards, Paper & Packaging	245	202	21.2%
d) Others	3	21
Total	6436	5941	8.3%
Less: i) Finance Cost	24	9
ii) Other un-allocable (income) net of un-allocable expenditure	(280)	(484)
iii) Exceptional items	(2)	0
Profit Before Tax from Continuing Operations	6694	6417	4.3%

FMCG Others: EBITDA margin expansion +200 bps YoY to 11% (ex Sresta)

Standalone Financials

Guildering Value
| 36

ITC – A Global Exemplar in Sustainability

Easting Yale

Impactful Social Performance

ITC e-Choupal
4 Million Farmers empowered

Climate Smart Agriculture^
31.93 lac acres covered

Natural Resources Management - Water Stewardship
19.85 lac acres covered

On-farm livelihood diversification - Afforestation
Over 14.8 lac acres covered

Off-farm livelihood diversification - Livestock Development
Over 9.80 lac animal owners benefitted

Support to Education
Reaching over
23.50 lac Children

Skilling of Youth
Skilled over 1.45 lac youth

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

Solid Waste Management
Over 16.35 million households covered across programmes

Women Empowerment
Around 6 lac women covered

^{1}
Represents Annual Figures for FY26

Sustainability – Highlights

Listering Yoke

9 ITC Units have received AWS (Alliance for Water Stewardship) Platinum certification
~51% energy from renewable sources in FY26.
Sustained Plastic Neutrality in FY26 (fifth year in a row) in line with EPR requirements.
More than 1000 suppliers, including 100% critical tier-1 suppliers, trained and ~90% critical tier-1 suppliers assessed on ESG aspect
Strengthened 14 policies aligned with evolving stakeholder expectations
World class ESG credentials – MSCI, CDP, DJSI

Sustained ‘AA’ rating 8 years in a row

Continued to feature in the Dow Jones Best-in-Class (DJ BIC) Emerging Markets Index

CDP

CDP Water
Continues to be part of the prestigious ‘A List’

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

CDP Forest
Included in ‘A List’ in 1st Year of Participation

ITC Infotech

Customer Centricity | Employee Centricity | Operational Excellence

EBITDA margin
@ upper-end of mid-tier IT cos.

Focus on strategic large deal wins
Lifetime high Customer Satisfaction Score (2nd among IT Service industry)
Continued investments in building strategic capabilities, sales organisation expansion & infrastructure
Digital & AI Engineering Hubs in Saudi Arabia & Australia
AI CoEs in Bengaluru & Kolkata
AI enabled Platforms and Accelerators

OMNIFABRIK™
Powered by ITC Infotech

iQStudio™
Powered by ITC Infotech

K FABRIK™
Powered by ITC Infotech

^{A}
IT services, adjusted for once-offs

ITC: Enduring Value

Enduring Value

A passion for Profitable growth...

in a way that is Sustainable...

and Inclusive.

Links

Listening Yaku

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/march-2026/ITC-Press-Release-Q4-FY2026.pdf

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ITC Ltd — Investor Presentation 2026

60425_rns_2026-05-21_a30a68bd-0118-417a-a865-2290190a39f3.pdf

Media Statement

Highlights

Standalone

Consolidated

PERFORMANCE HIGHLIGHTS

MACRO ECONOMIC CONTEXT

OVERALL COMPANY PERFORMANCE

CORPORATE ACTIONS

Branded Packaged Foods Businesses

Personal Care Products

Education and Stationery Products

Incense Sticks (Agarbattis) and Safety Matches

FMCG – CIGARETTES

AGRI BUSINESS

Leaf Tobacco

Other Agri Commodities

PAPERBOARDS, PAPER & PACKAGING

FRESH FOOD

CONTRIBUTION TO SUSTAINABLE DEVELOPMENT

Enduring Value

Q4 & FY26 Results

Macro Economic Context

Q4 FY26 Results

Consolidated

Standalone

Total Dividend

Consolidated

Standalone

Robust performance in FMCG – Others Segment; Double digit growth in Revenue & Profits

Cigarettes Business: Unprecedented increase in taxes w.e.f. 1st Feb'26; Transition to new tax structure

Agri Segment performance reflects impact of Geopolitical disruptions, timing difference, & high base

Paperboards, Paper and Packaging: Continued Improvement in performance of Paper Segment continues

ITC Next Strategy

Future Tech | Consumer Centric | Climate Positive | Inclusive

FMCG Cigarettes FY26

Innovation

Portfolio Fortification

Recent Introductions/ New Variants

FMCG Others Q4 FY26

EBITDA margin expand 200 bps YoY to 11% (ex Sresta)

Fortifying the Core

Addressing Adjacencies

New Growth Vectors

Agri Business

Segment Revenue

Segment Results

Paperboards, Paper & Packaging

Segment Revenue

Segment Results

Financials

ITC – A Global Exemplar in Sustainability

Impactful Social Performance

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ITC Ltd Investor Presentation 2026