Slide 1: Cover letter to stock exchanges: Media Statement and Presentation
6th February, 2025 The Manager The General Manager The Secretary Listing Department Dept. of Corporate Services The Calcutta Stock National Stock Exchange of BSE Ltd. Exchange Ltd. India Ltd. P. J. Towers 7, Lyons Range Exchange Plaza, Dalal Street Kolkata 700 001 Plot No. C-1, G Block Mumbai 400 00
Slide 2: Copy list (cc) of regulators
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
Slide 3: Media Statement: Standalone Results for Quarter ended 31st December 2024
ITC Limited Virginia House 37 J. L. Nehru Road Kolkata, 700 071, India Tel.: 91 33 2288 9371 Fax: 91 33 2288 0655 Media Statement February 06, 2025 Standalone Financial Results for the Quarter ended 31st December, 2024 Highlights • Board recommends Interim Dividend of Rs. 6.50 per share for the Fina
Slide 4: Hotels performance and demerger update
• Best ever quarterly performance by Hotels1; strong growth of 14.6% YoY in Revenue on a high base; PBT up 43.4% YoY - Retail, Wedding and F&B segments drive growth - EBITDA margin expands 450 bps YoY driven by higher RevPAR, operating leverage and strategic cost management - Hotels Demerger Update:
Slide 5: FMCG – Others
FMCG – OTHERS • The FMCG Businesses delivered resilient performance amidst muted demand conditions with Segment Revenue growing 4.0% YoY to Rs. 5418 crores; up 5.2% YoY ex-Notebooks - Atta, Spices, Snacks, Frozen Snacks, Dairy, Premium Personal Wash, Homecare & Agarbatti drive growth - Severe inflat
Slide 6: Sunfeast biscuits and cakes portfolio
• ‘Sunfeast’ Biscuits and Cakes continues to strengthen its portfolio on the back of differentiated products and powerful brand propositions anchored on strong consumer connect and local insights. During the quarter, the portfolio mix was enriched with the launch of ‘Sunfeast Wowzers’, a 14-layered
Slide 7: FMCG – Cigarettes
the principles of the National Education Policy 2020, providing children with an engaging learning experience that enhances their cognitive, logical, mathematical and verbal skills. ➢ ‘Mangaldeep’ Agarbattis and Dhoop recorded robust growth during the quarter driven by its range of innovative & diff
Slide 8: Paperboards, Paper & Packaging
advanced stage of finalisation. Export shipments are expected to commence shortly. Focused business development efforts continue to be made to scale up business going forward. PAPERBOARDS, PAPER & PACKAGING The operating environment remained challenging with low-priced Chinese and Indonesian supplie
Slide 9: Hotels EBITDA margin and contribution to sustainable development
• EBITDA margin expanded by 450 bps YoY driven by higher RevPAR, operating leverage and strategic cost management initiatives. • ITC Ratnadipa (opened in April 2024) at Colombo, Sri Lanka continues to garner excellent response and achieved cash breakeven at the operating profit level during the quar
Slide 10: Q3 FY25 Results
Q3 FY25 Results 6th February, 2025 |1|
Slide 11: Forward-Looking Statements
Forward-Looking Statements 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 o
Slide 12: Macro Economic Context
Macro Economic Context |3|
Slide 13: India Macro Environment
India Macro Environment India remains relatively resilient amidst sluggish global economy Slowdown in growth momentum Real GDP growth yoy 8.2 8.6 8.1 7.8 6.7 5.4 FY25 Real GDP growth estimated at 6.4% (FY24: 8.2%) Q1 Q2 Q3 Q4 Q1 Q2 FY24 FY24 FY24 FY24 FY25 FY25 Source: MOSPI Broad-based slowdown
Slide 14: Consumption remains muted amidst overall Macroeconomic Stability
Consumption remains muted amidst overall Macroeconomic Stability Food inflation elevated (Quarterly Avg YoY%) Real rural wages remain weak; recent uptick augurs well 9.0% Jun-24 Sep-24 Dec-24 Real Farm YoY% Real Non Farm YoY% 6.0% 8.9% 9.4% 3.0% 6.8% 5.6% 0.0% 4.9% 4.2% -3.0% -6.0% -9.0% CPI CPI Foo
Slide 15: Headwinds emerge on External Account
Headwinds emerge on External Account Net Capital Outflows in Q3 FY25 ($ bn) Widening Trade Deficit ($ bn) 12.0 Gold Import $ bn Trade Deficit $ bn 9.0 30 CAD $ bn 19.2 6.0 10 3.0 -10 0.0 -11 -30 -31 -3.0 -6.0 -50 Net FDI Net FII -70 -78 -78 -9.0 -12.0 -90 Source: RBI, NSDL Source: Ministry of Commer
Slide 16: Union Budget 2025
Union Budget 2025 Equal Thrust on Capex and Consumption Agri Focus & Rural Prosperity | Inclusive Development Productivity | Future facing Technology |Credit | Cluster-based value chains Investing in People & Innovation | Focus on Labour Intensive industries, MSME, Gig workers Growth oriented Consum
Slide 17: Macro Economic Environment
Macro Economic Environment Balanced Macros amidst challenging operating environment Key Key Positives Monitorables Strong Bank & Trade barriers Stable growth Corporate and policy Food Inflation outlook Balance Sheets uncertainty Fiscal Deficit Public & External Good Rabi crop Steady Rural Urban rela
Slide 18: Q3 FY25 Results: Headline Financials & Business Highlights
Q3 FY25 Results Headline Financials & Business Highlights |9|
Slide 19: Key Highlights: Q3 FY25 Standalone
Resilient performance amidst a subdued demand Key Highlights: Q3 FY25 environment & sharp escalation in input costs Standalone Gross Revenue EBITDA +8.4% c. 3% • Consolidated Revenue c. 9% Profit After Tax Interim Dividend • Consolidated PAT up 2.2% (excluding exceptional & One-off items^) +2.1% Rs.
Slide 20: Key Highlights: Q3 FY25 Best Ever Quarterly results
Key Highlights: Q3 FY25 Best Ever Quarterly results Profit Before Tax Gross Revenue (bei^) +14.6% +43.4% EBITDA Margins @40% +450 bps Demerged Business (Hotels) reported as Discontinued Operations ^before exceptional items | 11 |
Slide 21: Key Highlights: Q3 FY25
Key Highlights: Q3 FY25 Hotels Business demerged into ITC Hotels Limited (ITCHL) with effect from 1st January 2025 ― ITC Hotels Limited listed on the National Stock Exchange and Bombay Stock Exchange on 29th January, 2025 ― Reported as ‘Discontinued Operations’ in the financial results for the Qua
Slide 22: Key Highlights: Q3 FY25
Key Highlights: Q3 FY25 Cigarettes Net Segment Revenue* up 8.1% YoY, Segment PBIT up 4.1% YoY ̶ Strategic portfolio and market interventions, with focus on competitive belts & to counter illicit trade, drive volume-led growth & reinforce market standing ̶ Differentiated & premium offerings continu
Slide 23: Key Highlights: Q3 FY25
Key Highlights: Q3 FY25 Agri Segment Revenue up 9.7% YoY led by Leaf Tobacco & Value Added Agri products; Segment PBIT witnessed robust uptick - up 21.6% YoY ̶ Strong customer relationships and agile execution continue to drive growth in Leaf Tobacco & Value Added Agri exports (Coffee, Spices, etc
Slide 24: Key Highlights: Hotels (Demerged Business)
Key Highlights: Q3 FY25 Hotels (Demerged Business) Best ever quarterly performance; strong growth of 14.6% YoY in Revenue on a high base; PBT up 43.4% YoY ̶ Retail, Wedding and F&B segments drive growth ̶ EBITDA margin expands 450 bps YoY driven by higher RevPAR, operating leverage and strategic c
Slide 25: FMCG Cigarettes Q3 FY25
FMCG Cigarettes Q3 FY25 | 16 |
Slide 26: FMCG Cigarettes – Strong volume led revenue growth
FMCG Cigarettes – Q3 FY25 Strong volume led revenue growth Strong growth in Net Segment Revenue* - up 8.1% YoY, driven by volumes Segment Revenue Business continues to counter illicit trade and make strategic portfolio & market interventions with focus on competitive belts to reinforce market 81
Slide 27: FMCG Cigarettes: Reinforcing market standing
FMCG Cigarettes Reinforcing market standing Innovation Portfolio Fortification • Classic Connect • Flake Spl • American Club Clove Mint • Classic Burst Portfolio • Gold Flake Indie Mint • Silk Cut Red • Uni Klov Recent Introductions • Classic Clove • Player’s Aromix • Classic Icon • AC Just Clove •
Slide 28: FMCG Others Q3 FY25
€Dark Fantasy MERRY ChRISTMAS MM ENA Enduring Value FMCG Others Q3 FY25 ITC MASTER Farmiite | COV ICN
Slide 29: FMCG Others – Q3 FY25
Resilient performance amidst FMCG Others – Q3 FY25 muted demand conditions Resilient performance in FMCG – Others; Q3 Segment Revenue up 4% YoY, up 5.2% YoY ex Notebooks - Staples, Snacks, Frozen Snacks, Dairy, Premium Personal Wash, Homecare & Agarbatti drive growth - Notebooks impacted by high b
Slide 30: FMCG Others
FMCG Others Q3 Segment EBITDA margin at 8.5%; YTD Dec’24 at 10.2% - Severe inflationary pressures witnessed in prices of edible oil, wheat, maida, potato, cocoa, packaging inputs etc. - Partially mitigated through focused cost management initiatives, calibrated pricing actions and premiumisation -
Slide 31: Future-Ready Portfolio: Recent Launches
Future-Ready Portfolio Recent Launches Fortifying the Core Addressing New Growth Adjacencies Vectors Fiama Soap Japanese Hokkaido Bingo! Namkeen Dermafique Serum Classmate Bingo! Sour Cream & Herbs Sunfeast! Wowzers Bingo! Hot & Spicy Pudina Twist Advance Radiance eduGames infinity Popped Chips Enro
Slide 32: Deepening Consumer Engagement
Deepening Consumer Engagement Brand Integration Innovative Print Ads Brands with Purpose | 23 |
Slide 33: Deepening Consumer Engagement: Full on Festivals
Deepening Consumer Engagement Full on Festivals | 24 |
Slide 34: Large Scale Consumer Activations at Maha Kumbh Mela 2025
Large Scale Consumer Activations at Maha Kumbh Mela 2025, Prayagraj | 25 |
Slide 35: Agri Business Q3 FY25
MM ENA Enduring Value Agri Business Q3 FY25 oy ITCMAARS ie ‘tater
Slide 36: Agri Business
Segment Revenue up 10% YoY Agri Business led by Leaf Tobacco & Value Added Agri Exports Strong growth in Value Added agri exports of Spices & Coffee ̶ Spices: Recorded robust growth leveraging world-class Guntur facility ̶ Coffee: Leveraged strong customer relationships & high demand (a/c shortage
Slide 37: Paperboards, Paper & Packaging Q3 FY25
Paperboards, Paper & Packaging Q3 FY25 | 28 |
Slide 38: Paperboards, Paper & Packaging
Paperboards, Paper & Packaging Resilient performance amidst a challenging operating environment Low priced Chinese & Indonesian supplies, soft domestic demand, lower realisations Segment Revenue continue to impact Industry performance 2144 cr. 3.1% ― Excess capacities in certain geographies ― Enga
Slide 39: Hotels Business Q3 FY25
MM ENA Enduring Value Hotels Business Q3 FY25
Slide 40: Hotels – Q3 FY25 Best Ever Quarter
Hotels – Q3 FY25 Best Ever Quarter Hotels Business demerged into ITC Hotels Limited (ITCHL) w.e.f. Jan 1st, 2025 Standalone Revenue^ ITCHL shares listed on stock exchanges on Jan 29th, 2025 922 cr. 14.6% Stellar performance on an elevated base; EBITDA Margin @40% ( 450 bps) Retail, Wedding a
Slide 41: Curated offerings to drive demand
Curated offerings to drive demand F&B Recognition Marketing Campaigns Celebrations on Gourmet couch | 32 |
Slide 42: Executing 'Asset Right' Strategy
15 Openings | ~1300 keys Executing ‘Asset Right’ Strategy in last 9 months Storii, Jaisalmer Welcomhotel, Jabalpur Welcomhotel, Delhi-Gurugram Highway Fortune Beachfront, Puri Healthy Pipeline of Management Contracts – Phased openings over the next few quarters | 33 |
Slide 43: Stellar Performance on an elevated base
Stellar Performance on an elevated base Consistent uptick in ARR & RevPAR Revenue from 16 0 00 74 % ARR RevPAR Occ 73% 73 % INR 931 Cr 15% Y-o-Y 14 0 00 Operations 73 % 12 0 00 72 % 72 % 10 0 00 71 % 8 00 0 71 % EBITDA 71% INR 368 Cr 29% Y-o-Y 6 00 0 70 % 4 00 0 69% 70 % 13000 14000 10300 69 % 9000
Slide 44: Operational Excellence
Driving Margin Expansion Operational Excellence Productivity | Efficiency EBITDA Margin expansion Raw Material Cost (% of F&B Revenue) 24% 40% 2 5% 39% 200 bps 2 4% 2% ↓ 22% 2 3% 38% 2 2% 250 bps 37% 40% 2 1% 36% 2 0% 35% 38.0% 1 9% 35% 35.3% 34% 1 8% 33% 1 7% 32% 1 6% Q3 FY24 Higher Higher Q3 FY25
Slide 45: Accelerating Growth through Managed Hotels
Accelerating Growth through Managed Hotels Managed Hotels Portfolio mix (Upscale to Luxury) Opened 30 Managed Hotels in the past 24 months (Jan 2023 – Dec 2024) High Quality of signed pipeline; High salience of Brownfields > 1 Hotel opening per month for next 24 months Leverage momentum to a
Slide 46: Diversified Customer Base
Diversified Customer Base High Retail salience in Revenue mix +4% LY includes G20 related business Revenue share increase from Contracted to Non-Contracted Growing Share of Higher Margin Segments business Standalone Discontinued Operations | 37 |
Slide 47: Strong Multi-channel Distribution Network
Strong Multi-channel Distribution Network Driving demand through focus on website and channels Unit Reservations Website and App (30%) (20%) Online Travel Guest Call Centre GDS Agents (15%) (17%) (18%) YTD Dec’24 (Standalone Discontinued Operations) | 38 |
Slide 48: Brand landscape
Brand landscape Operational Pipeline for next 4 years Total Brands Hotels | Keys Hotels | Keys Hotels | Keys 16 | 4737 - | 52 16 | 4789 2 | 181 1| 240 3 | 421 28 | 3041 12 | 1447 40 | 4488 7 | 191 10 | 558 17 | 749 56 | 4162 21 | 1707 77 | 5869 35 | 1016 3 | 130 38 | 1146 Total 144 | 13,328 47 | 413
Slide 49: Financials
Financials | 40 |
Slide 50: Key Financials
Key Financials YoY Rs. Cr. Q3 FY25 Q3 FY24 GOLY Growth Gross Revenue 18,953 17,483 8.4% Net Revenue 17,726 16,326 8.6% EBITDA 6,197 6,024 2.9% PBT (aei) 7,363 6,725 9.5% PAT 5,638 5,572 1.2% Comparable PAT +2.1% Current year PAT includes fair value gain of Rs. 463 cr. upon acquisition of certain inv
Slide 51: Note relating to Hotels Demerger
Q3 FY25 Financial Results Note relating to Hotels Demerger The Hon’ble National Company Law Tribunal, Kolkata Bench (NCLT), vide Order dated 4th October, 2024, sanctioned the Scheme of Arrangement amongst the Company and ITC Hotels Limited (ITCHL) and their respective shareholders and creditors unde
Slide 52: Discontinued Operations particulars
Q3 FY25 Financial Results Note relating to Hotels Demerger Brief particulars of the Discontinued Operations are given as under: (₹ in Crores) 3 Months Corresponding Preceding 3 9 Months 9 Months Twelve Months ended 3 Months Months Sr No Particulars ended ended ended 31.12.2024 ended ended 31.12.2024
Slide 53: Segment Revenue
Segment Revenue • FMCG Cigarettes - Strong growth of 8% YoY in Net Revenue, driven by volumes Q3 - Premium segment & new innovations continue to gain robust traction YoY • FMCG Others Rs. cr. FY25 FY24 growth - Revenue up 4% YoY amidst muted demand conditions; up 5.2% YoY excl. Segment Revenue Noteb
Slide 54: Segment Results
Segment Results • FMCG Cigarettes Q3 ‒ Sharp cost escalation in leaf tobacco YoY Rs. cr. FY25 FY24 ‒ Trade marketing spends restructured for sharper last growth Segment Results mile execution a) FMCG - Cigarettes 4924 4728 4% - Others 317 432 -27% • FMCG Others Total FMCG 5241 5160 2% ‒ Sustained co
Slide 55: ITC – A Global Exemplar in Sustainability
ITC – A Global Exemplar in Sustainability | 46 |
Slide 56: Impactful Social Performance
Impactful Social Performance Natural Resources On-farm livelihood Off-farm livelihood ITC e-Choupal diversification – Livestock Climate Smart Agriculture^ Management – Water diversification – Afforestation 4 Million Farmers Development Over 25.6 lac acres covered Stewardship Over 12.8 lac acres Over
Slide 57: Sustainability 2.0 and Targets 2030
Sustainability 2.0 Sustainability Targets 2030 REDUCE I RECYCLE I RESTORE Raising the Bar Strategic Interventions to Combat Climate Change Renewable Specific GHG Recyclable Plastic Plastic Energy Emissions Packaging Neutrality De-Carbonization Climate Adaptation and 100% Resilience 50% 50% 100% Coll
Slide 58: Sustainability – Highlights
Sustainability – Highlights • Comprehensive policies & guidelines institutionalised • 9 ITC Units have received AWS (Alliance for Water Stewardship) Platinum certification till date • 50% energy from renewable sources achieved for the first time, well ahead of 2030 target • Plastic Neutrality commit
Slide 59: ITC Infotech
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Slide 60: ITC Infotech
ITC Infotech Customer Centricity | Employee Centricity | Operational Excellence Rs. cr. Rs. cr. Revenue Adj. EBITDA YTD Dec YoY +16% 330 0 570 300 0 520 470 270 0 420 550 240 0 2737 3097 370 475 210 0 320 YTD Dec'23 YTD Dec'24 YTD Dec'23 YTD Dec'24 • Broad based growth; Healthy Total Contract Value
Slide 61: ITC: Enduring Value
ITC: Enduring Value A passion for in a way that is and Profitable growth... Sustainable… Inclusive. | 52 |
Slide 62: Links
Links 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/ Mo