Slide 1: Cover letter to stock exchanges
ITC Limited Virginia House 37 J. L. Nehru Road Kolkata 700 071, India Tel. : 91 33 2288 9371 Fax : 91 33 2288 4016 / 1256 / 2259 / 2260 23rd May, 2024 The Manager The General Manager The Secretary Listing Department Dept. of Corporate Services The Calcutta Stock National Stock Exchange of BSE Ltd. E
Slide 2: cc: Securities Exchange Commission
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 Financial Results Quarter and Year ended 31st March, 2024
ITC Limited Virginia House 37 J. L. Nehru Road Kolkata, 700 071, India Tel.: 91 33 2288 9371 Fax: 91 33 2288 4016 / 1256 / 2259 / 2260 Media Statement May 23, 2024 Standalone Financial Results for the Quarter and Year ended 31st March, 2024 Highlights • Board recommends Final Dividend of Rs. 7.50 pe
Slide 4: Media Statement: Cigarettes and Hotels performance
- Market standing reinforced through focused portfolio/market interventions and agile execution. Differentiated and premium offerings continued to perform well. - Sharp escalation in leaf tobacco prices and other inputs, along with increase in taxes were largely mitigated through improved mix, strat
Slide 5: Economic overview and overall company performance
recording robust Real GDP growth of 7.6% in FY24 (as per MOSPI estimates). Growth was primarily driven by Fixed Investments led by Government’s thrust on infrastructure creation and household investments in real estate. Private Consumption, on the other hand, grew at 3.0% - its slowest pace in two d
Slide 6: FMCG Businesses: Branded Packaged Foods
The FMCG Businesses continue to expand their export footprint, which currently spans over 70 countries. The PLI scheme has provided further fillip to the Company’s exports across Biscuits & Cakes, Snacks, Dairy and Ready-to-Eat categories. Branded Packaged Foods Businesses The Branded Packaged Foods
Slide 7: FMCG: Noodles, Dairy and Beverages
new line of ‘Wow Masala’ noodles, with a higher spice quotient through a ‘more masaledaar’ offering. In line with its purpose of creating ‘A Better World’, the brand continues to promote sustainability through plastic waste management and recycling. During the year, more than 30 lakh school children
Slide 8: FMCG: Personal care, Fragrance and Home Care
Foundation, through ‘Parvaz’, a year-long leadership training programme that fosters women’s empowerment and enables young women leaders to be catalysts of change in their communities. The Fragrance category under the ‘Engage’ brand exhibited resilient performance in the face of heightened competiti
Slide 9: FMCG: Agarbatti, Matches and Cigarettes
Mangaldeep aims to be an enabler of devotion and wellbeing through its fragrances. Over the years, the brand has built a range of products on a differentiated consumer proposition of long lasting fragrances. The Business has co- created these superior fragrances with the help of 150 visually impaire
Slide 10: Hotels business update
The Company’s first international property ITC Ratnadipa5, opened in April 2024 at Colombo, Sri Lanka. A jewel in the Colombo skyline that promises to enrich the tourism and hospitality landscape of Sri Lanka, the luxury property is poised to create the ultimate luxury hospitality experience for dis
Slide 11: Agri Business update
commodities, multi-modal logistics capability, agile supply chain operations, deep customer relationships and focus on scale up of the Value-Added Agri Products (VAAP) portfolio to deliver a resilient performance. The strategic focus of the Business in recent years has been to accelerate growth by r
Slide 12: Paperboards, Packaging and sustainable development
as ‘Bioseal’ (compostable coating to replace plastics), ‘Oxyblock’ (recyclable coating solution to enhance barrier properties in packaging) and ‘Germ free coating’ (solution for microbial free packaging surface addressing the consumer consciousness towards hygiene and safety) have been introduced, w
Slide 13: Q4 & FY24 Results
Q4 & FY24 Results 23rd May, 2024 |1|
Slide 14: 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 15: Macro Economic Context
Macro Economic Context |3|
Slide 16: Macro Economic Environment
Macro Economic Environment Global economy 3rd consecutive year of deceleration India remains a bright spot weakness likely to persist Real GDP Growth YoY Real GDP Growth YoY ▪ Growth remains above long term average ▪ Overall macros well-managed | Timely Policy interventions ▪ Structural weakness in
Slide 17: Macro Economic Environment: India growth led by investments
Macro Economic Environment India remains a bright spot India growth led by investments Real GDP Growth YoY ▪ Growth remains above long term average ▪ GDP growth led by Investments (Government Capex) ▪ Overall macros well-managed | Timely Policy interventions - Core Inflation largely stable ▪ Private
Slide 18: Macro Economic Environment: Key Positives and Monitorables
Macro Economic Environment Key Key Positives Monitorables Moderating Stable growth Geopolitical Agri Commodity Inflation outlook disruptions Inflation Strong Bank & Monetary easing Uncertainty on Buoyant Tax Rural Demand Consumption Corporate cycle in Advanced collection recovery Demand Balance Shee
Slide 19: Q4 and FY24 Results Headline Financials & Business Highlights
Q4 and FY24 Results Headline Financials & Business Highlights |7|
Slide 20: Key Highlights: FY24
Resilient performance amidst a Key Highlights: FY24 challenging operating environment Gross Revenue Profit After Tax ex – Agri Business +6.8% +8.9% 2-yr CAGR +14.0% 2-yr CAGR +16.5% Total Dividend Rs. 13.75 per share |8|
Slide 21: Key Highlights: FMCG Others
Key Highlights ▪ Resilient performance in FMCG – Others Segment amidst marked slow down in consumption ̶ Full year Segment Revenue and Segment PBIT up 9.6% and 29.4% YoY respectively; margins expanded by 130 bps YoY ̶ 2 Yr. CAGR: Segment Revenue 14.5%; Segment PBIT 38.8% ̶ Q4 Segment Revenue up 7.2%
Slide 22: Key Highlights: Cigarettes and Hotels
Key Highlights ▪ Cigarettes Segment witnesses consolidation of volumes on a high base after a period of sustained growth momentum ̶ Full Year Net Segment Revenue and Segment PBIT up 7.1% and 6.5% YoY respectively ̶ 2-yr CAGR: Net Segment Revenue +13.5%, Segment PBIT +13.3% ̶ Q4 Net Segment Revenue a
Slide 23: Key Highlights: Agri and Paperboards
Key Highlights ▪ Agri Business Segment impacted by trade restrictions on agri commodities ̶ Strategic portfolio (comprising value-added agri products) and leaf tobacco Revenues up 19% YoY in Full Year and 18% YoY in Q4 ̶ Geopolitical tensions and climate emergencies have led to concerns over food se
Slide 24: ITC Next Strategy
ITC Next Strategy Future Tech | Consumer Centric | Climate Positive | Inclusive Multiple Drivers Innovation and Supply Chain Digital Sustainability Cost Agility & of Growth R&D 2.0 Productivity Agile Agile Digital first culture Responsible Structural Future Ready Smart Eco System Competitiveness int
Slide 25: FMCG Others
Our Nation pag } Break the fast with something lf raAN ; ‘that makes you go virpee! Enduring Value THIS TIME NOT MISSING EVEN BY ABIT. FMCG Others
Slide 26: FMCG Others – Q4 FY24
Resilient Performance amidst marked FMCG Others – Q4 FY24 slowdown in consumption ▪ Segment Revenue up 7.2% YoY on a high base; 2-yr CAGR +13.1% - Staples, Biscuits, Snacks, Dairy, Homecare and Agarbatti drive growth - Education & Stationery Products Business continues to witness strong traction ▪ S
Slide 27: FMCG Others – Q4 FY24 Segment PBIT
Segment PBIT +15% YoY FMCG Others – Q4 FY24 (on comparable basis) ▪ Q4 Segment EBITDA margins at 11.6% - Margin expansion sustained by multi-pronged interventions viz. premiumisation, supply chain agility, judicious pricing actions, digital initiatives and strategic cost management Annual Trends Q4
Slide 28: Purposeful Innovation
Purposeful Innovation Leveraging Innovation Platforms Health Hygiene Aashirvaad Atta Aashirvaad Fiama Vivel Soap Aashirvaad Whole Spices Gel bar- Blackcurrant with Millets Himalayan Pink Lime + Aloe Vera Saunf | Ajwain | Jeera & Bearberry 25% millets inside Salt Indulgence Devotion Grooming & Lifest
Slide 29: Purposeful Innovation
Purposeful Innovation Leveraging Innovation Platforms Convenience Aashirvaad Svasti Aashirvaad ITC MasterChef B Natural B Natural Aashirvaad Paneer Slices Besan Paneer Pakoda Gluco Orange Tender Coconut water Kasuri Methi | Chilli Powder Taste Adventure Education Bingo! Snacks Classmate Paperkraft C
Slide 30: Deepening Consumer Connect
Deepening Consumer Connect Leveraging emerging trends Driving Brand Engagement Partnership with Argentine Football Association #YourMomentToEngage | 18 |
Slide 31: Building Brands with Purpose
Building Brands with Purpose CLASSMATE All Rounder Vivel – Mahila Leadership Program Igniting Change: From Grassroots to Community Champions Yippee! “Create Magic” Fiama – Sustainable Packaging To Empower Every Child’s Inner All Rounder A platform for holistic development of students in line with th
Slide 32: Creating Structural Competitive Advantage
World Class Distributed Infrastructure Creating Structural Competitive Advantage Scale| Productivity| Costs ICML Khordha Solar Plant, Dindigul Personal Care Facility, Uluberia Augmenting the Renewable Energy footprint ICML: Integrated Consumer Goods Manufacturing and Logistics Facility | 20 |
Slide 33: FMCG Cigarettes
MM ENA Enduring Value FMCG Cigarettes
Slide 34: FMCG Cigarettes – Q4 FY24
FMCG Cigarettes – Q4 FY24 Sequential uptick amidst subdued demand conditions ▪ Consolidation of volumes on a high base after a period of sustained growth momentum ▪ Net Segment Revenue* up 7.0% and Segment PBIT up 5.0% YoY ̶ 2-yr CAGR: Net Segment Revenue +10.3%, Segment PBIT +9.4% ̶ Net Segment Rev
Slide 35: FMCG Cigarettes: Reinforcing market standing
FMCG Cigarettes Reinforcing market standing Innovation Portfolio Fortification • Classic Connect • Gold Flake Neo SMART Filter • Gold Flake SLK • Wills Deluxe • American Club Clove Mint • Bristol Deluxe FT • Gold Flake Indie Mint • Flake XL • Flake Skipper Recent Introductions • Classic Alphatec • A
Slide 36: Hotels Business
Hotels Business ITC Kohenur | 24 |
Slide 37: Hotels – Q4 FY24
Stellar performance continues Hotels – Q4 FY24 Revenue and Profits at record high ▪ Strong growth in RevPar driven by Retail, Contracted and MICE segments Segment Revenue ▪ Segment EBITDA margin expanded by 340 bps YoY to 38.2% driven by higher RevPars, structural cost interventions and operating le
Slide 38: ITC Ratnadipa, Colombo, Sri Lanka
A Magnificent icon of Responsible Luxury ITC Ratnadipa, Colombo, Sri Lanka^ launched in Colombo in April’24 Jala Anganaya Indian Ocean Pavilion The 352-room hotel, with ITC Hotels’ world-acclaimed cuisines Lobby Bedroom ^A project undertaken by WelcomHotels Lanka (Private) Limited, the Company’s who
Slide 39: Trailblazer in Responsible Luxury
Trailblazer in Responsible Luxury First 4 Hotels in the World to receive First 12 Hotels in the World to receive LEED Zero Water Certification LEED Zero Carbon Certification ITC Mughal ITC Sonar ITC Windsor WH Guntur ITC Maratha ITC Grand Central ITC Gardenia ITC Rajputana ITC Maurya Others: Sherato
Slide 40: Recent Openings
Recent Openings Mementos, Jaipur Welcomhotel Hamsa, Manali Urvashi’s Retreat, Manali The Kaba Retreat, Solan | 28 |
Slide 41: Agri Business
MM ENA Enduring Value Agri Business
Slide 42: Agri Business – Q4 FY24
Strategic portfolio (comprising Value Added Agri products) Agri Business – Q4 FY24 and leaf tobacco Revenues up 18% YoY ▪ Operating environment remained challenging due to various policy interventions of the Government of India to ensure food security and control inflation Segment Revenue ▪ Strong c
Slide 43: Paperboards, Paper & Packaging
Paperboards, Paper & Packaging | 31 |
Slide 44: Paperboards, Paper & Packaging – Q4 FY24
Challenging operating environment Paperboards, Paper & Packaging – Q4 FY24 & high base effect ▪ Segment performance reflects impact of low priced Chinese supplies in international markets (including India), muted domestic demand, surge in wood cost and high base effect Segment Revenue ▪ Margins impa
Slide 45: Financials
Financials | 33 |
Slide 46: Key Financials
Key Financials Q4 Q4 Q4 Q4 YoY YoY 2 2Yr. Yr. YoY YoY 2 Yr. 2 Yr. Rs. Cr. FY24 FY24 FY23 FY23 FY24 FY24 FY23 FY23 Growth Growth CAGR CAGR Growth Growth CAGR CAGR Gross Revenue* 17,572 17,572 17,224 17,224 2.0% 2.0% 4.1% 4.1% 69,446 69,446 69,481 69,481 0.0% 0.0% 8.4% 8.4% Net Revenue 16,371 16,371 1
Slide 47: Segment Revenue & Results Q4 FY24
Segment Revenue & Results Q4 FY24 Q4 Q4 YoY 2 Yr. YoY 2 Yr. Rs. cr. FY24 FY23 Rs. cr. FY24 FY23 growth CAGR growth CAGR Segment Results Segment Revenue a) FMCG - Cigarettes 4923 4689 5.0% 9.4% a) FMCG - Cigarettes 7925 7356 7.7% 10.9% - Others 477 502 -4.9% 42.2% - Others 5300 4945 7.2% 13.1% Total
Slide 48: Segment Revenue & Results FY24
Segment Revenue & Results FY24 Full Year Full Year YoY 2 Yr. YoY 2 Yr. Rs. cr. FY24 FY23 Rs. cr. FY24 FY23 growth CAGR growth CAGR Segment Results Segment Revenue a) FMCG - Cigarettes 19089 17927 6.5% 13.3% a) FMCG - Cigarettes 30597 28207 8.5% 14.2% - Others 1779 1374 29.4% 38.8% - Others 20967 191
Slide 49: ITC – A Global Exemplar in Sustainability
ITC – A Global Exemplar in Sustainability | 37 |
Slide 50: Impactful Social Performance
Impactful Social Performance ITC e-Choupal Afforestation Watershed Development Livestock Development Solid Waste Management Over 11.7 lac acres Over 16 lac acres Well-being Out of Waste 4 Million Farmers Over 22 lac milch programme covers empowered greened covered animals covered 64 lac households W
Slide 51: 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 52: Sustainability – Highlights
Sustainability – Highlights • Comprehensive policies & guidelines institutionalized • 7 ITC Units have received AWS (Alliance for Water Stewardship) Platinum certification • 50% energy from renewable sources achieved for the first time, well ahead of 2030 target • Plastic Neutrality commitment excee
Slide 53: ITC Infotech
ITC Infotech | 4141|
Slide 54: ITC Infotech
ITC Infotech Customer Centricity | Employee Centricity | Operational Excellence Rs. cr. +37% FY24 FY24 • Q4 Revenue up 13% YoY, FY24 Revenue up 12% YoY • Healthy Total Contract Value (TCV) signings; strong pipeline Signed a Share Purchase Agreement (SPA) for acquisition of 100% equity shares of Blaz
Slide 55: ITC: Enduring Value
ITC: Enduring Value A passion for in a way that is and Profitable growth... Sustainable… Inclusive. | 43 |
Slide 56: 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