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Quarterly Results

 

Click here to download the Financial Results

Unaudited Financial Results
for the Quarter ended 30th June, 2015

PART I: Statement of Unaudited Financial Results for the Quarter ended 30th June, 2015

(Rs. in Crores)
    STANDALONE
Particulars   3 months
ended
Corresponding
3 months
ended
Preceding
3 months
ended
Twelve
Months
ended
    30.06.2015 30.06.2014 31.03.2015 31.03.2015
    (Unaudited) (Unaudited) (Audited) * (Audited)
INCOME FROM OPERATIONS          
a) NET SALES / INCOME FROM OPERATIONS (Net of Excise Duty) (1) 8505.53 9164.42 9188.25 36083.21
b) OTHER OPERATING INCOME (2) 82.17 83.87 104.53 424.19
TOTAL INCOME FROM OPERATIONS (Net) (1+2) (3) 8587.70 9248.29 9292.78 36507.40
EXPENSES          
a) Cost of materials consumed   2569.08 2660.62 2803.44 10987.83
b) Purchases of stock-in-trade   629.03 1920.80 759.37 3898.66
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade   (29.13) (603.86) 98.87 (214.53)
d) Employee benefits expense   517.42 508.66 454.39 1780.04
e) Depreciation and amortisation expense   258.19 231.32 249.57 961.74
f) Other expenses   1515.43 1484.48 1933.60 6581.85
TOTAL EXPENSES (4) 5460.02 6202.02 6299.24 23995.59
PROFIT FROM OPERATIONS BEFORE OTHER INCOME AND FINANCE COSTS (3-4) (5) 3127.68 3046.27 2993.54 12511.81
OTHER INCOME (6) 315.01 234.55 370.37 1543.13
PROFIT FROM ORDINARY ACTIVITIES BEFORE FINANCE COSTS (5+6) (7) 3442.69 3280.82 3363.91 14054.94
FINANCE COSTS (8) 10.46 15.15 15.51 57.42
PROFIT FROM ORDINARY ACTIVITIES BEFORE TAX (7-8) (9) 3432.23 3265.67 3348.40 13997.52
TAX EXPENSE (10) 1166.79 1079.28 987.22 4389.79
NET PROFIT FOR THE PERIOD (9-10) (11) 2265.44 2186.39 2361.18 9607.73
PAID UP EQUITY SHARE CAPITAL (12) 801.55 795.50 801.55 801.55
(Ordinary shares of Rs. 1/- each)          
RESERVES EXCLUDING REVALUATION RESERVES (13) - - - 29881.73
EARNINGS PER SHARE (of Rs. 1/- each) (not annualised): (14)        
(a) Basic (Rs.)   2.83 2.75 2.95 12.05
(b) Diluted (Rs.)   2.80 2.72 2.93 11.93

* The figures for the preceding 3 months ended 31.03.2015 are the balancing figures between the audited figures in respect of the full financial year ended 31.03.2015 and the year to date figures upto the third quarter of that financial year.

 

PART II: Select information for the Quarter ended 30th June, 2015

A. Particulars of Shareholding 3 months
ended
Corresponding
3 months
ended
Preceding
3 months
ended
Twelve
Months
ended
  30.06.2015 30.06.2014 31.03.2015 31.03.2015
1. PUBLIC SHAREHOLDING        
- NUMBER OF SHARES 7995569779 7934240720 7995556406 7995556406
- PERCENTAGE OF SHAREHOLDING 99.75 99.74 99.75 99.75
2. PROMOTERS AND PROMOTER GROUP SHAREHOLDING Nil Nil Nil Nil
a) Pledged / Encumbered N.A. N.A. N.A. N.A.
b) Non - encumbered N.A. N.A. N.A. N.A.

B. Investor Complaints 3 months ended
30.06.2015
Pending at the beginning of the quarter Nil
Received during the quarter Nil
Disposed off during the quarter Nil
Remaining unresolved at the end of the quarter Nil

 

Notes :

(i) The Unaudited Financial Results and Segment Results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 30th July, 2015.
   
(ii) Figures for the previous periods are re-classified / re-arranged / re-grouped, wherever necessary, to correspond with the current period's classification / disclosure.
   
(iii) The Company does not have any Exceptional or Extraordinary item to report for the above periods.
   
(iv) During the quarter, Russell Credit Limited, a wholly owned subsidiary, acquired the entire paid-up equity share capital of Rs. 20 crores of BFIL Finance Limited (BFIL), another wholly owned subsidiary, consequent to which BFIL ceased to be a direct subsidiary of ITC Limited with effect from 18th June, 2015.
   
(v) The launch and rollout costs of the Company's brands 'Fiama Di Wills', 'Vivel', 'Superia' and 'Engage' covering the range of personal care products of soaps, face washes, shower gels, skin care and deodorants, and the continuing significant brand building costs of the Foods businesses are reflected under 'Other expenses' stated above and in Segment Results under 'FMCG-Others'.
   
(vi) This statement is as per Clause 41 of the Listing Agreement.

Limited Review :

The Limited Review, as required under Clause 41 of the Listing Agreement has been completed and the related Report forwarded to the Stock Exchanges. This Report does not have any impact on the above 'Results and Notes' for the Quarter ended 30th June, 2015 which needs to be explained.

 

Unaudited Segment-wise Revenue, Results and Capital Employed for the
Quarter ended 30th June, 2015

(Rs. in Crores)
    STANDALONE
    3 Months
ended
Corresponding
3 Months
ended
Preceding
3 Months
ended
Twelve
Months
ended
  30.06.2015 30.06.2014 31.03.2015 31.03.2015
    (Unaudited) (Unaudited) (Audited) * (Audited)
1. Segment Revenue        
  a) FMCG        
  - Cigarettes 4149.61 4201.06 4210.70 16804.56
  - Others 2171.01 1934.61 2566.51 9011.25
  Total FMCG 6320.62 6135.67 6777.21 25815.81
  b) Hotels 287.83 248.69 346.42 1186.96
  c) Agri Business 2325.36 3296.06 1427.89 8380.48
  d) Paperboards, Paper & Packaging 1264.98 1288.48 1202.58 4973.90
  Total 10198.79 10968.90 9754.10 40357.15
  Less : Inter-segment revenue 1693.26 1804.48 565.85 4273.94
  Net sales / Income from operations 8505.53 9164.42 9188.25 36083.21
2. Segment Results        
  a) FMCG
- Cigarettes
2781.10 2721.75 2706.15 11196.27
  - Others (7.97) (15.59) 48.52 34.08
  Total FMCG 2773.13 2706.16 2754.67 11230.35
  b) Hotels (7.25) (12.09) 42.04 49.08
  c) Agri Business 233.85 202.45 164.43 903.97
  d) Paperboards, Paper & Packaging 254.44 274.90 190.56 921.48
  Total 3254.17 3171.42 3151.70 13104.88
  Less :
i) Finance Costs
10.46 15.15 15.51 57.42
  ii) Other un-allocable (income) net of un-allocable expenditure (188.52) (109.40) (212.21) (950.06)
  Profit Before Tax 3432.23 3265.67 3348.40 13997.52
  Tax Expense 1166.79 1079.28 987.22 4389.79
  Profit After Tax 2265.44 2186.39 2361.18 9607.73
3. Capital Employed        
  a) FMCG
- Cigarettes **
5014.69 5087.46 5818.58 5818.58
  - Others 4670.01 3941.74 3987.85 3987.85
  Total FMCG 9684.70 9029.20 9806.43 9806.43
  b) Hotels [Note (i)] 4331.65 3648.46 4300.96 4300.96
  c) Agri Business 1872.57 2299.03 1958.84 1958.84
  d) Paperboards, Paper & Packaging 5424.78 5454.09 5425.91 5425.91
  Total Segment Capital Employed 21313.70 20430.78 21492.14 21492.14
* The figures for the preceding 3 months ended 31.03.2015 are the balancing figures between the audited figures in respect of the full financial year ended 31.03.2015 and the year to date figures upto the third quarter of that financial year.
** Segment Liabilities of FMCG-Cigarettes is before considering Rs. 635.00 Crores (30.06.2014 - Rs. 673.08 Crores ; 31.03.2015 - Rs. 629.98 Crores) in respect of disputed Taxes, the recovery of which has been stayed or where States' appeals are pending before Courts. These have been included under 'Unallocated Corporate Liabilities'.
Note (i): Includes Rs. 541.21 Crores (31.03.2015 - Rs. 515.44 Crores) towards payment to IFCI Limited and applicable stamp duty for purchase of a luxury beach resort in South Goa operating under the name Park Hyatt Goa Resort & Spa, on being the successful bidder. IFCI Limited have issued requisite Sale Certificates in favour of the Company. The erstwhile owners of the property have thereafter challenged the sale. The matter is pending before the Honourable Bombay High Court.

 

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 four business groups : FMCG, Hotels, 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.
 
(2) The business groups comprise the following :
FMCG : Cigarettes - Cigarettes, Cigars etc.
  : Others - Branded Packaged Foods Businesses (Staples, Snacks and Meals; Dairy and Beverages; Confections); Apparel; Education and Stationery Products; Personal Care Products; Safety Matches and Agarbattis.
Hotels - Hoteliering.
Paperboards, Paper & Packaging - Paperboards, Paper including Specialty Paper & Packaging including Flexibles.
Agri Business - Agri commodities such as soya, spices, coffee and leaf tobacco.
   
(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.
   
(4) The Company's Agri Business markets agri commodities in the export and domestic markets; supplies agri raw materials to the Branded Packaged Foods Businesses and sources leaf tobacco for the Cigarettes Business.
   
(5) Figures for the corresponding previous periods are re-arranged, wherever necessary, to conform to the figures of the current period.

   
Registered Office :
Virginia House, 37 J.L. Nehru Road,
Kolkata 700 071, India
Dated : 30th July, 2015
Place : Kolkata, India
For and on behalf of the Board


   
Executive Director Chairman

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Financial Results March 2015
Financial Results December 2014 Financial Results September 2014