Economic Performance

	Progressive investments in multiple drivers of growth
	Sustaining high quality top line and earnings growth
	26% growth in total shareholder returns over the last 16 years
	32 fold increase in market capitalisation from 1996

ITC posted yet another year of impressive results with strong top line growth and high quality earnings reflecting the robustness of its corporate strategy of creating multiple drivers of growth. This performance is particularly remarkable when viewed against the backdrop of the extremely challenging business context in which it was achieved, namely, a slowdown in the economy, high levels of inflation and the continuing cascading effect of arbitrary increases in VAT on cigarettes.

Gross Revenue for the year grew by 14.2% to Rs. 34871.86 crores. Net Revenue at Rs. 24798.43 crores grew by 17.2% primarily driven by a 23.6% growth in the non-cigarette FMCG businesses, 20.0% growth in Agri Business and 16.6% growth in the Cigarettes segment. Profit before tax increased by 22.4% to Rs. 8897.53 crores while Net profits at Rs. 6162.37 crores registered a growth of 23.6%.

Earnings Per Share for the year stands at Rs. 7.93 (previous year Rs. 6.49). Cash flows from Operations aggregated Rs. 8334 crores compared to Rs. 7528 crores in the previous year.

For the year ended 31st March, 2012, ITC declared a Dividend of Rs. 4.50 per share (previous year Rs. 4.45 per share including a Special Dividend Rs. 1.65 per share).

Continuing with its chosen strategy of creating multiple drivers of growth, ITC is today the leading FMCG marketer in India, the second largest Hotel chain, the clear market leader in the Indian Paperboard and Packaging industry and the country’s foremost Agri Business player. ITC’s wholly owned subsidiary, ITC Infotech India Limited, is one of India’s fast growing Information Technology companies in the mid-tier segment.