| |
Quarter ended 30.09.2011 |
Quarter ended 30.09.2010 |
Half Year
ended 30.09.2011 |
Half Year
ended 30.09.2010 |
Twelve months
ended 31.03.2011 (Audited) |
| GROSS INCOME |
|
8841.36 |
7601.00 |
17282.83 |
14784.61 |
31423.23 |
| NET SALES |
(1) |
5974.18 |
5083.48 |
11741.65 |
9907.07 |
21167.58 |
OTHER
OPERATING INCOME |
(2) |
111.04 |
92.16 |
186.45 |
127.37 |
300.67 |
| NET INCOME (1+2) |
(3) |
6085.22 |
5175.64 |
11928.10 |
10034.44 |
21468.25 |
| EXPENDITURE |
|
|
|
|
|
|
| a) (Increase) / decrease in stock-in-trade and work in progress |
|
(39.84) |
(211.16) |
(157.95) |
(310.94) |
(254.29) |
b) Consumption
of raw materials |
|
1856.04 |
1774.59 |
3793.05 |
3334.21 |
7000.99 |
c) Purchase
of traded goods |
|
502.94 |
297.65 |
983.27 |
630.73 |
1379.80 |
| d) Employees cost |
|
265.04 |
261.18 |
659.28 |
603.10 |
1159.41 |
| e) Depreciation |
|
170.13 |
163.99 |
336.58 |
323.67 |
655.99 |
| f) Other expenditure |
|
1282.05 |
1173.22 |
2455.37 |
2253.48 |
4728.23 |
| g) Total |
(4) |
4036.36 |
3459.47 |
8069.60 |
6834.25 |
14670.13 |
PROFIT FROM
OPERATIONS BEFORE
OTHER INCOME
AND INTEREST (3-4) |
(5) |
2048.86 |
1716.17 |
3858.50 |
3200.19 |
6798.12 |
| OTHER INCOME |
(6) |
180.80 |
124.49 |
324.64 |
222.97 |
518.17 |
PROFIT BEFORE
INTEREST (5+6) |
(7) |
2229.66 |
1840.66 |
4183.14 |
3423.16 |
7316.29 |
| INTEREST (Net) |
(8) |
14.18 |
10.63 |
30.63 |
23.04 |
48.13 |
PROFIT AFTER
INTEREST AND
BEFORE TAX (7-8) |
(9) |
2215.48 |
1830.03 |
4152.51 |
3400.12 |
7268.16 |
| TAX EXPENSE |
(10) |
701.17 |
583.29 |
1305.48 |
1083.07 |
2280.55 |
NET PROFIT
AFTER TAX (9-10) |
(11) |
1514.31 |
1246.74 |
2847.03 |
2317.05 |
4987.61 |
PAID UP EQUITY
SHARE CAPITAL |
(12) |
777.30 |
767.74 |
777.30 |
767.74 |
773.81 |
(Ordinary shares
of ` 1/- each) |
|
|
|
|
|
|
RESERVES
EXCLUDING
REVALUATION RESERVES |
(13) |
- |
- |
- |
- |
15126.12 |
EARNINGS PER
SHARE (`) |
(14) |
|
|
|
|
|
| - Basic (`) |
|
1.95 |
1.63 |
3.67 |
3.03 |
6.49 |
| - Diluted (`) |
|
1.93 |
1.61 |
3.62 |
2.99 |
6.41 |
| PUBLIC SHAREHOLDING |
(15) |
|
|
|
|
|
- NUMBER
OF SHARES |
|
7748871989 |
7649791618 |
7748871989 |
7649791618 |
7712612856 |
- PERCENTAGE
OF SHAREHOLDING |
|
99.69 |
99.64 |
99.69 |
99.64 |
99.67 |
PROMOTERS AND
PROMOTER GROUP
SHAREHOLDING |
(16) |
Nil |
Nil |
Nil |
Nil |
Nil |
a) Pledged /
Encumbered |
|
N.A. |
N.A. |
N.A. |
N.A. |
N.A. |
| b) Non - encumbered |
|
N.A. |
N.A. |
N.A. |
N.A. |
N.A. |
| (i) |
The Unaudited Financial Results, Segment Results and Statement of Assets and Liabilities were reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 24th October, 2011. |
|
|
| (ii) |
Figures for the previous periods are re-arranged, wherever necessary, to conform to the figures for the current period. The Company does not have any Exceptional or Extraordinary item to report for the above periods. |
|
|
| (iii) |
Gross Income comprises Gross sales / Income from operations, Other Operating Income and Other Income. |
| (iv) |
Gross Income includes ` 2575.34 Crores and ` 5030.09 Crores for the quarter and half year ended 30th September, 2011 respectively, being Excise Duties and Taxes on Sales of Services. (Corresponding previous quarter and half year ended 30th September 2010 - ` 2300.87 Crores and ` 4527.20 Crores respectively). |
|
|
| (v) |
The launch and rollout costs of the Company's brands 'Fiama Di Wills', 'Vivel' and 'Superia' covering the range of personal care products of soaps, shampoos, conditioners, skin care and shower gels, and the continuing significant brand building costs of the Foods business are reflected under 'Other expenditure' stated above and in Segment Results under 'FMCG-Others'. |
|
|
| (vi) |
During the quarter, 3,48,92,440 Ordinary Shares of ` 1/- each were issued and allotted under the Company’s Employee Stock Option Schemes. Consequently, the issued and paid-up Share Capital of the Company as on 30th September, 2011 stands increased to ` 777,30,36,720/-. |
|
|
|
|
| (vii) |
During the quarter, ITC Limited acquired the entire shareholding of Russell Credit Limited (wholly owned subsidiary of the Company) in Wimco Limited (Wimco), comprising 9,12,38,170 equity shares of ` 1/- each (i.e. 96.825% of Wimco’s equity share capital). Consequently, Wimco has become a direct subsidiary of the Company with effect from 29th September, 2011. |
|
|
| (viii) |
During the quarter, no investor complaint was received. There were no complaints pending at the beginning of the quarter. |
| (ix) |
This statement is as per Clause 41 of the Listing Agreement. |
| |
Quarter ended 30.09.2011 |
Quarter ended 30.09.2010 |
Half Year
ended 30.09.2011 |
Half Year
ended 30.09.2010 |
Twelve months
ended 31.03.2011(Audited) |
| 1. Segment Revenue |
|
|
|
|
|
a) FMCG - Cigarettes
- Gross |
5485.95 |
4810.43 |
10755.87 |
9480.17 |
19827.56 |
| - Net |
2968.14 |
2550.11 |
5841.70 |
5033.73 |
10573.67 |
| - Others - Gross |
1345.29 |
1057.71 |
2546.35 |
2063.34 |
4482.35 |
| - Net |
1340.66 |
1055.61 |
2538.42 |
2056.99 |
4471.63 |
Total FMCG
- Gross |
6831.24 |
5868.14 |
13302.22 |
11543.51 |
24309.91 |
| - Net |
4308.80 |
3605.72 |
8380.12 |
7090.72 |
15045.30 |
| b) Hotels - Gross |
234.31 |
224.70 |
486.83 |
449.83 |
1077.39 |
| - Net |
211.14 |
208.94 |
441.60 |
418.86 |
1000.82 |
c) Agri Business
- Gross |
1434.54 |
1271.90 |
3141.68 |
2628.66 |
4747.99 |
| - Net |
1434.54 |
1271.90 |
3141.68 |
2628.66 |
4747.99 |
d) Paperboards, Paper & Packaging
- Gross |
1055.36 |
959.61 |
2066.68 |
1788.73 |
3666.88 |
| - Net |
1005.42 |
919.21 |
1964.99 |
1712.92 |
3507.21 |
| Total - Gross |
9555.45 |
8324.35 |
18997.41 |
16410.73 |
33802.17 |
| - Net |
6959.90 |
6005.77 |
13928.39 |
11851.16 |
24301.32 |
Less : Inter-segment revenue
- Gross |
1005.93 |
940.00 |
2225.67 |
1976.46 |
3197.78 |
| - Net |
985.72 |
922.29 |
2186.74 |
1944.09 |
3133.74 |
| Gross sales / Income from operations |
8549.52 |
7384.35 |
16771.74 |
14434.27 |
30604.39 |
| Net sales / Income from operations |
5974.18 |
5083.48 |
11741.65 |
9907.07 |
21167.58 |
| 2. Segment Results |
|
|
|
|
|
| a) FMCG - Cigarettes |
1728.90 |
1458.22 |
3305.59 |
2763.20 |
5766.75 |
| - Others |
(55.90) |
(66.90) |
(132.18) |
(156.15) |
(297.59) |
| Total FMCG |
1673.00 |
1391.32 |
3173.41 |
2607.05 |
5469.16 |
| b) Hotels |
43.44 |
39.87 |
94.75 |
78.39 |
266.56 |
| c) Agri Business |
238.78 |
207.63 |
395.92 |
337.34 |
566.29 |
| d) Paperboards, Paper & Packaging |
289.70 |
245.64 |
516.66 |
434.10 |
819.24 |
| Total |
2244.92 |
1884.46 |
4180.74 |
3456.88 |
7121.25 |
| Less : i) Interest (Net) |
14.18 |
10.63 |
30.63 |
23.04 |
48.13 |
| ii) Other un-allocable expenditure net of un-allocable (income) |
15.26 |
43.80 |
(2.40) |
33.72 |
(195.04) |
| Profit Before Tax |
2215.48 |
1830.03 |
4152.51 |
3400.12 |
7268.16 |
| Tax Expense |
701.17 |
583.29 |
1305.48 |
1083.07 |
2280.55 |
| Profit After Tax |
1514.31 |
1246.74 |
2847.03 |
2317.05 |
4987.61 |
| 3. Capital Employed |
|
|
|
|
|
| a) FMCG - Cigarettes * |
|
|
3898.97 |
3709.26 |
3062.14 |
| - Others |
|
|
1924.19 |
1765.18 |
1897.12 |
| Total FMCG |
|
|
5823.16 |
5474.44 |
4959.26 |
| b) Hotels |
|
|
2989.30 |
2552.90 |
2728.44 |
| c) Agri Business |
|
|
1487.35 |
996.58 |
1561.65 |
| d) Paperboards, Paper & Packaging |
|
|
4005.92 |
3646.40 |
3770.12 |
| Total Segment Capital Employed |
|
|
14305.73 |
12670.32 |
13019.47 |
* Segment Liabilities of FMCG-Cigarettes is before considering ` 797.38 Crores (30.09.2010 - ` 689.85 Crores) in respect of disputed Taxes, the recovery of which has been stayed or where States' Special Leave Petitions are pending before the Supreme 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 and Smoking Mixtures. |
| |
|
Others |
- |
Branded Packaged Foods (Staples, Biscuits, Confectionery, Snack Foods, Pasta & Noodles, Ready to Eat Foods), Garments, Educational and other Stationery products, Matches, Agarbattis and Personal Care products. |
|
|
|
|
|
|
Hotels |
- |
Hoteliering. |
|
|
|
|
|
|
Paperboards,
Paper & Packaging |
- |
Paperboards, Paper including Specialty Paper & Packaging including Flexibles. |
|
|
|
|
|
|
Agri Business |
- |
Agri commodities such as rice, 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 and Personal Care Products businesses. |
|
|
|
|
|
| (4) |
The Company's Agri Business markets agri commodities in the export and domestic markets; supplies agri raw materials to the Branded Packaged Foods Business and sources leaf tobacco for the Cigarettes Business. The segment results for the quarter/half year are after absorbing costs relating to the strategic e-Choupal initiative. |
|
|
|
|
|
| (5) |
Figures for the corresponding previous periods are re-arranged, wherever necessary, to conform to the figures of the current period. |
|
|
|
|
|