Integrated Filing — IndAS



General information about company

Scrip Code 500875
NSE Symbol ITC
MSEI Symbol NOTLISTED
ISIN INE154A01025
Name of company ITC Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 30-10-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 16-10-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 30-10-2025   13:20:00
End date and time of board meeting 30-10-2025   16:10:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 21,25,586.00 44,38,521.00
Other income 58,440.00 1,26,661.00
Total income 21,84,026.00 45,65,182.00
2 Expenses
(a) Cost of materials consumed 6,57,745.00 12,81,575.00
(b) Purchases of stock-in-trade 1,56,571.00 5,45,990.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (174.00) 9,625.00
(d) Employee benefit expense 1,65,449.00 3,33,034.00
(e) Finance costs 2,005.00 3,652.00
(f) Depreciation, depletion and amortisation expense 43,480.00 85,776.00
(f) Other Expenses
1 Excise Duty 1,75,423.00 3,38,879.00
2 Other Expenses 3,01,103.00 5,78,302.00
Total other expenses 4,76,526.00 9,17,181.00
Total expenses 15,01,602.00 31,76,833.00
3 Total profit before exceptional items and tax 6,82,424.00 13,88,349.00
4 Exceptional items 8,808.00 8,808.00
5 Total profit before tax 6,91,232.00 13,97,157.00
6 Tax expense
7 Current tax 1,76,940.00 3,50,799.00
8 Deferred tax 2,273.00 6,874.00
9 Total tax expenses 1,79,213.00 3,57,673.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 5,12,019.00 10,39,484.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 6,636.00 13,512.00
16 Total profit (loss) for period 5,18,655.00 10,52,996.00
17 Other comprehensive income net of taxes (13,498.00) 7,910.00
18 Total Comprehensive Income for the period 5,05,157.00 10,60,906.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 5,12,611.00 10,37,031.00
Total profit or loss, attributable to non-controlling interests 6,044.00 15,965.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 4,99,244.00 10,45,072.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 5,913.00 15,834.00
21 Details of equity share capital
Paid-up equity share capital 1,25,271.00 1,25,271.00
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.09 8.28
Diluted earnings (loss) per share from continuing operations 4.09 8.27
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.09 8.28
Diluted earnings (loss) per share from continuing and discontinued operations 4.09 8.27
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. ‘Revenue from operations’ includes ‘Gross Revenue from sale of products and services’ and ‘Other operating revenue’. 2. ‘Purchase of stock-in-trade’ should be read as ‘Purchase of Stock-in-Trade and Biological Assets’. 3. ‘Changes in inventories of finished goods, work-in-progress and stock-in-trade’ should be read as ‘Changes in inventories of finished goods, Stock-in-Trade, work-in-progress, intermediates and Biological Assets’. 4. ‘Depreciation, depletion and amortisation expense’ should be read as ‘Depreciation and amortization expense’. NOTES TO STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2025 1. The Unaudited Consolidated Financial Results, Segment Results, Balance Sheet and Statement of Cash Flows were reviewed by the Audit Committee, and approved by the Board of Directors of the Company at its meeting held on 30th October, 2025. 2. The continuing significant brand building costs covering a range of personal care and branded packaged food products are reflected under 'Other expenses' stated above and in Segment Results under 'FMCG-Others'. 3. 95,88,290 Ordinary Shares of Re. 1/- each were issued and allotted under the Company’s Employee Stock Option Schemes during the quarter ended 30th September, 2025. Consequently, the issued and paid-up Share Capital of the Company stands increased to Rs. 1252,71,30,431/- as on 30th September, 2025. 4. Exceptional Items of Continuing Operations for the quarter and six months ended 30th September, 2025 represent 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. 5. 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. Comparative information has been presented accordingly. Brief particulars of the Discontinued Operations are given as under (Rs. in Crores): Sr. No. - Particulars - 3 Months ended 30.09.2025 (Unaudited) - Corresponding 3 Months ended 30.09.2024 (Unaudited) - Preceding 3 Months ended 30.06.2025 (Unaudited) - 6 Months ended 30.09.2025 (Unaudited) - 6 Months ended 30.09.2024 (Unaudited) – Twelve Months ended 31.03.2025 (Audited) a - Revenue from Operations - 0 – 770.90 – 0 – 0 – 1471.30 - 2484.58 b - Total Income - 0 – 776.13 – 0 – 0 – 1488.71 - 2517.16 c - Total Expenses - 0 – 667.19 – 0 – 0 – 1261.10 - 2002.67 d - Share of Profit / (Loss) of Associates and Joint Ventures - 0 – 3.97 – 0 – 0 – 7.82 - 11.35 e - Profit Before Exceptional Items and Tax (b-c+d) - 0 – 112.91 – 0 – 0 – 235.43 - 525.84 f - Exceptional Items - 0 – (1.15) – 0 – 0 – (4.19) - 15128.81 g - Tax Expenses - 0 – 36.47 – 0 – 0 – 71.28 - 638.64 h - Profit from Discontinued Operations (e+f-g) - 0 – 75.29 – 0 – 0 – 159.96 - 15016.01 6. 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. The process of seeking approval for the said amalgamation from the National Company Law Tribunal, Kolkata and Hyderabad Benches, is in progress. 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 six months ended 30th September, 2025 are not comparable with previous periods. 7. This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 17,27,870.00
Capital work-in-progress 1,30,501.00
Investment property 31,607.00
Goodwill 1,00,646.00
Other intangible assets 3,23,898.00
Intangible assets under development 3,454.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 5,02,779.00
Non-current financial assets
Non-current investments 13,00,666.00
Trade receivables, non-current 0.00
Loans, non-current 643.00
Other non-current financial assets 55,131.00
Total non-current financial assets 13,56,440.00
Deferred tax assets (net) 10,719.00
Other non-current assets 1,64,505.00
Total non-current assets 43,52,419.00
2 Current assets
Inventories 18,76,259.00
Current financial asset
Current investments 14,51,356.00
Trade receivables, current 6,50,338.00
Cash and cash equivalents 48,420.00
Bank balance other than cash and cash equivalents 3,56,216.00
Loans, current 612.00
Other current financial assets 1,45,975.00
Total current financial assets 26,52,917.00
Current tax assets (net) 0.00
Other current assets 1,98,671.00
Total current assets 47,27,847.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 90,80,266.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,25,271.00
Other equity 69,81,945.00
Total equity attributable to owners of parent 71,07,216.00
Non controlling interest 52,272.00
Total equity 71,59,488.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 66,410.00
Total non-current financial liabilities 66,410.00
Provisions, non-current 31,550.00
Deferred tax liabilities (net) 2,64,949.00
Deferred government grants, Non-current 0.00
Other non-current liabilities 4,183.00
Total non-current liabilities 3,67,092.00
Current liabilities
Current financial liabilities
Borrowings, current 15,737.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 21,714.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 4,94,082.00
Total Trade payable 5,15,796.00
Other current financial liabilities 1,84,867.00
Total current financial liabilities 7,16,400.00
Other current liabilities 6,40,315.00
Provisions, current 9,302.00
Current tax liabilities (Net) 1,87,669.00
Deferred government grants, Current 0.00
Total current liabilities 15,53,686.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 19,20,778.00
Total equity and liabilites 90,80,266.00
Disclosure of notes on assets and liabilities Textual Information(1)



Text Block

Textual Information(1) 1. ‘Other non-current assets’ includes ‘Right of Use assets’ of Rs. 525.37 Crores, ‘Income Tax Assets (Net)’ of Rs. 25.09 Crores, and ‘Other non-current assets’ of Rs. 1094.59 Crores. 2. ‘Other current assets’ includes ‘Biological assets other than bearer plants’ of Rs. 221.25 Crores and ‘Other current assets’ of Rs. 1765.46 Crores. 3. ‘Other non-current financial liabilities’ includes ‘Lease liabilities’ of Rs. 144.05 Crores and ‘Other financial liabilities’ of Rs. 520.05 Crores. 4. ‘Other current financial liabilities’ includes ‘Lease liabilities’ of Rs. 61.55 Crores and ‘Other financial liabilities’ of Rs. 1787.12 Crores.



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 FMCG - Cigarettes 9,41,434.00 18,96,820.00
2 FMCG - Others 6,05,912.00 11,85,956.00
3 Agri Business 4,03,780.00 13,76,164.00
4 Paperboards, Paper & Packaging 2,22,032.00 4,33,694.00
5 Others 1,24,462.00 2,42,721.00
Total Segment Revenue 22,97,620.00 51,35,355.00
Less: Inter segment revenue 1,92,875.00 7,29,861.00
Revenue from operations 21,04,745.00 44,05,494.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 FMCG - Cigarettes 5,46,210.00 10,96,103.00
2 FMCG - Others 43,872.00 83,775.00
3 Agri Business 45,361.00 88,828.00
4 Paperboards, Paper & Packaging 18,139.00 33,279.00
5 Others 18,265.00 33,753.00
Total Profit before tax 6,71,847.00 13,35,738.00
i. Finance cost 2,005.00 3,652.00
ii. Other Unallocable Expenditure net off Unallocable income (28,026.00) (78,583.00)
Profit before tax 6,97,868.00 14,10,669.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 FMCG - Cigarettes 11,50,472.00 11,50,472.00
2 FMCG - Others 15,78,938.00 15,78,938.00
3 Agri Business 9,58,959.00 9,58,959.00
4 Paperboards, Paper & Packaging 10,02,414.00 10,02,414.00
5 Others 3,17,665.00 3,17,665.00
Total Segment Asset 50,08,448.00 50,08,448.00
Un-allocable Assets 40,71,818.00 40,71,818.00
Net Segment Asset 90,80,266.00 90,80,266.00
4 Segment Liabilities
Segment Liabilities
1 FMCG - Cigarettes 6,59,416.00 6,59,416.00
2 FMCG - Others 2,92,135.00 2,92,135.00
3 Agri Business 1,58,924.00 1,58,924.00
4 Paperboards, Paper & Packaging 1,32,341.00 1,32,341.00
5 Others 1,03,814.00 1,03,814.00
Total Segment Liabilities 13,46,630.00 13,46,630.00
Un-allocable Liabilities 5,74,148.00 5,74,148.00
Net Segment Liabilities 19,20,778.00 19,20,778.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) 1. ‘Revenue from operations’ should be read as ‘Gross Revenue from sale of products and services’. 2. ‘Other Unallocable Expenditure net off Unallocable income’ should be read as ‘Other un-allocable (income) net of un-allocable expenditure (Refer Note)’. 3. In case of 3 months ended 30.09.2025, ‘Other Unallocable Expenditure net off Unallocable income’ includes ‘Other un-allocable (income) net of un-allocable expenditure (Refer Note)’ of Rs. (125.82) Crores, Exceptional Items* of Rs. (88.08) Crores and Share of Profit / (Loss) of associates and joint ventures of Rs. 66.36 Crores. 4. In case of 6 months ended 30.09.2025, ‘Other Unallocable Expenditure net off Unallocable income’ includes ‘Other un-allocable (income) net of un-allocable expenditure (Refer Note)’ of Rs. (562.63) Crores, Exceptional Items* of Rs. (88.08) Crores and Share of Profit / (Loss) of associates and joint ventures of Rs. 135.12 Crores. 5. In case of 3 months ended 30.09.2025 and 6 months ended 30.09.2025, ‘Un-allocable Assets’ includes Nil ‘Discontinued Operations**’ and ‘Unallocated Corporate Assets’ of Rs. 40718.18 Crores. 6. In case of 3 months ended 30.09.2025 and 6 months ended 30.09.2025, ‘Un-allocable Liabilities’ includes Nil ‘Discontinued Operations**’ and ‘Unallocated Corporate Liabilities’ of Rs. 5741.48 Crores. * 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.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to profit or loss (10,469.00) 8,232.00
Total Amount of items that will not be reclassified to profit and loss (10,469.00) 8,232.00
2 Income tax relating to items that will not be reclassified to profit or loss (1,425.00) 1,294.00
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to profit or loss (7,991.00) (1,738.00)
Total Amount of items that will be reclassified to profit and loss (7,991.00) (1,738.00)
4 Income tax relating to items that will be reclassified to profit or loss (3,537.00) (2,710.00)
5 Total Other comprehensive income (13,498.00) 7,910.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 13,97,157.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 3,652.00
Adjustments for decrease (increase) in inventories (3,24,435.00)
Adjustments for decrease (increase) in trade receivables, current (1,96,887.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 28,906.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 85,776.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (2,391.00)
Adjustments for dividend income 1,514.00
Adjustments for interest income 63,509.00
Adjustments for share-based payments 6,393.00
Adjustments for fair value losses (gains) (52,846.00)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 19,452.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (4,97,403.00)
Net cash flows from (used in) operations 8,99,754.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 2,83,494.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 6,16,260.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 30,45,100.00
Other cash payments to acquire equity or debt instruments of other entities 27,38,419.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 1,125.00
Purchase of property, plant and equipment 1,06,209.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 153.00
Cash receipts from repayment of advances and loans made to other parties 615.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 4,433.00
Interest received 43,077.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 78,306.00
Net cash flows from (used in) investing activities 3,27,875.00
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 34,814.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 5,974.00
Repayments of borrowings 4,766.00
Payments of lease liabilities 3,244.00
Dividends paid 9,82,708.00
Interest paid 3,690.00
Income taxes paid (refund) 52.00
Other inflows (outflows) of cash (973.00)
Net cash flows from (used in) financing activities (9,54,645.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (10,510.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (10,510.00)
Cash and cash equivalents cash flow statement at beginning of period 58,933.00
Cash and cash equivalents cash flow statement at end of period 48,423.00