ITC Limited

One of India‟s Most Admired Companies

1

Performance Track Record - Snapshot
Rs crores

Rs Crs Gross Turnover Net Turnover Market Capitalisation PBDIT PBIT PBT PAT (After Exceptional Items) EPS Rs (Equalised for 95-96) Net Worth Capital Employed ROCE% Total Shareholders Returns %
Rs. 1 crore= Rs. 10 million

95-96 5115 2536 5571 584 536 452 261 0.7 1121 1886 28.4

09-10 26,260 18,153 100,475 6,677 6,069 6,015 4,061 10.73 14,064 14,957 40.6

Cagr 95-96 to 09-10 12.4% 15.1% 22.9% 19.0% 18.9% 20.3% 21.7% 21.4% 19.8% 15.9% 24.3%

2

ITC - Key Financials – 2009/10

Rs crs Gross Turnover External Net Turnover External PBDIT PBIT PBT PAT

09/10 Actuals 26260 18153 6677 6069 6015 4061

08/09 Actuals 23144 15612 5393 4844 4826 3264

Goly % 13.5 16.3 23.8 25.3 24.7 24.4

2009/10: Segment Revenues
2009-10 1. Segment Revenue (Gross) a) FMCG - Cigarettes - Others Total FMCG 17,283 3,642 20,925 911 3,862 3,234 28,931 2,672 26,260 2009-10 9,321 3,634 12,955 851 3,862 3,108 20,776 2,622 18,153 15,115 3,014 18,129 1,020 3,846 2,822 25,817 2,674 23,144 2008-09 7,781 3,006 10,786 935 3,846 2,647 18,215 2,603 15,612 14.3 20.8 15.4 (10.7) 0.4 14.6 12.1 (0.1) 13.5 Goly 19.8 20.9 20.1 (9.1) 0.4 17.4 14.1 0.8 16.3 Full Year 2008-09 Goly

b) Hotels c) Agri Business d) Paperboards, Paper & Packaging Total Less : Inter segment revenue Gross sales / income from operns. 2. Segment Revenue (Net) a) FMCG - Cigarettes - Others Total FMCG

b) Hotels c) Agri Business d) Paperboards, Paper & Packaging Total Less : Inter segment revenue Net sales / income from operns.

184 (483) 3. Segment Results a) FMCG .2 127. Paper & Packaging Total Less : i) Interest (Net) ii) Other net un-allocable expenditure/ income Total PBT 4.Cigarettes .938 (350) 4.7 .926 53 (143) 6.826 Goly 18.5 23.6 24.015 Full Year 2008-09 4.3 34.589 217 436 684 5.5) 70.Others Total FMCG b) Hotels c) Agri Business d) Paperboards.2009/10: Segment Results 2009-10 3.700 316 256 509 4.0 (31.781 18 (63) 4.0 27.9 191.7 24.

8 .4) 12.Others Total FMCG b) Hotels c) Agri Business d) Paperboards. Capital Employed a) FMCG .6 15.86 2009-10 4.3 52.Cigarettes * .189 1.1 (18.6) 3.035 542. 2.717 2.64 Goly 2.580 3.936 2.2) (6.101 5.037 2.457 1.1 (1.771 12.711 12.2009/10: Segment Capital Employed Full Year 2008-09 2.719 4.998 1. Paper & Packaging Total Segment Capital Employed * Local Tax Provision not incl.465 628.039 3.

1 17.8 Gross Turnover External Net Turnover External PBDIT PBIT PBT PAT .Key Financials – Q1 2010/11 Rs Crs Q1 10/11 Actuals 7043 4817 1736 1576 1570 1070 Q1 09/10 Actuals 6131 4148 1475 1323 1317 879 Goly % 14.1 19.7 19.2 21.ITC .9 16.

5 43.Others Total FMCG b) Hotels c) Agri Business d) Paperboards. Paper & Packaging Total Less : Inter segment revenue Gross sales / income from operns.2 32.5 13.4 21. Segment Revenue (Gross) a) FMCG .0 60.4 32.Cigarettes .4 14.9 Goly(%) 12.6 16.2 17. crores 2010-11 1.4 15.2 43.Q1 2010/11: Segment Revenues Rs. .2 60.1 b) Hotels c) Agri Business d) Paperboards.5 13. Paper & Packaging Total Less : Inter segment revenue Net sales / income from operns.4 21.Cigarettes .Others Total FMCG 4670 1006 5675 225 1350 829 8079 1036 7043 2010-11 2484 1001 3485 210 1350 794 5838 1022 4817 Q1 2009-10 4161 759 4920 186 941 731 6777 646 6131 2009-10 2210 758 2968 173 941 703 4784 636 4148 Goly(%) 12.5 19. Segment Revenue (Net) a) FMCG .0 22. 2.

Q1 2010/11: Segment Results 2010-11 Segment Results a) FMCG .5 25.Cigarettes .7) (74.Others Total FMCG b) Hotels c) Agri Business d) Paperboards.4) 19.2 47.0 (0. Paper & Packaging Total Less : i) Interest (Net) ii) Other net un-allocable expenditure/ income Total PBT 1305 (89) 1216 39 123 188 1566 6 (10) 1570 Q1 2009-10 1125 (100) 1026 31 100 128 1284 6 (39) 1317 Goly(%) 16.9 23.5 22.2 .5 18.0 10.

7 (1. Paper & Packaging Total Segment Capital Employed * Local Tax Provision not incl. 3032 1888 4920 2511 1441 3636 12507 657 Q1 2009-10 2632 1929 4561 2272 1389 3707 11930 554 Goly(%) 15.9) 4. Capital Employed a) FMCG .Segment Capital Employed 2010-11 4.1) 7.2 (2.Others Total FMCG b) Hotels c) Agri Business d) Paperboards.9 10.8 18.Cigarettes * .6 .5 3.

One of India‟s most valuable and admired companies  One of the 8 Indian Companies to feature in „Forbes A-list‟ for 2004  ITC Featuring 400 of the World‟s „best big companies‟ with M-cap. 4 among Indian listed Private Sector Companies by market cap. 1 in FMCG Sector  Rated as one of India‟s Most Respected Companies (IMRB-Businessworld Survey 2006) 11 . profits. • No. assets & market value  One of the foremost in the private sector in terms of :  Sustained value creation (BT-Stern Stewart survey) Operating profits   Cash Profits  Ranks No. > USD 5 bln. & are rated as the „most attractive companies for investors‟  Only Indian FMCG Company to feature in Forbes 2000 List  A comprehensive ranking of world‟s biggest companies measured by a composite of sales.

Awards & Accolades (1) • „ITC received the FICCI Outstanding Vision Corporate Triple Impact Award 2007 for invaluable contribution to the triple bottom line benchmarks of building economic. social and natural capital for the nation. 12 • . The Best Corporate Social Responsibility Practice Award 2008 jointly instituted by the Bombay Stock Exchange. ITC has been conferred the ICAI Award for Excellence in Financial Reporting with its Annual Report and Accounts. The Company has won the Corporate Social Responsibility Crown Award for Water Practices from UNESCO and Water Digest for its distinguished work carried out in the water sector in India. ITC Limited won the top UNIDO award at the International Conference on Sharing Innovative Agribusiness Solutions 2008 at Cairo in recognition for its initiatives in agri business. Social and Corporate Governance (ESG) ratings released recently. Zurich and SAM/SPG at the International Sustainability Leadership Symposium Business Today Award for the Best Managed Company – Retail and Consumer Products. has been conferred on ITC in recognition of its outstanding initiatives in the consumer products segment. Times Foundation and the NASSCOM Foundation. adjudged as a commendable entry under the “Manufacturing and Trading Enterprises” category. Global Leadership Award conferred on Chairman Y C Deveshwar by the US India Business Council of the US Chamber of Commerce • • • • • • • • Sustainability Leadership Award 2007 conferred on Chairman Y C Deveshwar by the Sustainability Forum. ITC ranked second among top Indian companies. Ryutaro Hashimoto Incentive Prize 2007 for Environment & Development from the Asia Pacific Forum In the first of its kind S&P Environmental.

– First Indian Company to win the Development Gateway Award 2005 for the most exemplary contribution in the field of Information & Communication Technologies (ICT) for development during the last 10 years – World Business Award 2004: International Chamber of Commerce & the HRH Prince of Wales & International Business forum – Harvard University case study – Recognised in World Development Report 2008 published by World Bank – Applauded by President of India Dr APJ Kalam in his “special address during the national symposium to commemorate 60th year of independence” 13 .Accolades & Awards (2) • e-Choupal initiative wins global recognition: – Stockholm Challenge Award 2006 in the Economic Development category which recognises initiatives that leverage Information Technology to improve living conditions and foster economic growth in all parts of the world.

ITC Business Portfolio FMCG Cigarettes Foods Personal Care Lifestyle Retailing . Education & Stationery Matches Incense Sticks Hotels Paper & Packaging Agri Business Information Technology .

Strategy of Organisation to manage diversity of Portfolio Formal 3-tiered governance structure:  Board of Directors :  Comprising executive (3) and non-executive directors (11)  Strategic supervision  Corporate Management Committee :  Comprising executive directors and senior managers  Strategic management  Divisional Chief Executive & Divisional Management Committee :  Executive management 15 .

Corporate Strategies  Sustain multiple drivers of growth. matching internal capabilities with emerging market opportunities  Pursue World class competitiveness in all businesses and across the entire value chain  Best-in-class in terms of: • Internal Vitality • Market Standing • Profitability  Strategy of Organisation and Governance processes geared to manage multiple businesses  Blend core competencies and leverage ITC umbrella strengths to create new avenues of growth 16 .

FMCG .Cigarettes 17 .

geographic & price  Extensive FMCG distribution network  Direct servicing of 1.Rs.10 billion in six years  Exciting long term growth potential 18 .ITC‟s Cigarettes Business  Market leadership  Powerful brands across segments  Leadership in all segments .00.000 markets & 2 million retail outlets  World-class state-of-the-art technology and products  Investment .

Cigarettes: Growth potential  Cigarettes account for less than 15% of tobacco consumed in India unlike world pattern of 85% due to prolonged punitive taxation • Cigarettes (15% of tobacco consumption) contribute nearly 85% of Revenue to the Exchequer from tobacco sector  Of the 58% of adult Indian males who consume tobacco. barely 15% can afford cigarettes  Biri : Cigarettes ratio = 10 : 1  Annual per capita adult cigarette consumption in India is appx. one tenth world average : 85  Future growth depends on relative rates of growth of per capita income and moderation in taxes 19 .

Tob Board & Industry Estimates – gms/Yr Per Capita consumption is ~ 60% of World Average .Per Capita Consumption of Tobacco in India (gms per year) 1256 1145 743 438 461 468 China USA Pakistan Nepal India World Source:World Cigarettes – ERC Statistics.

3000 2500 2920 Per Capita Cigarette Consumption No Of Cigarettes 2000 1886 1771 1500 1000 618 500 488 303 243 85 World Average 21 844 0 Bangladesh Japan Pakistan China Nepal Sri Lanka Countries  Per Capita consumption in India ~ 10% of World average India USA .

June 09.f.Cigarettes: Challenges  Competitive context • Competition including international majors becoming more active • Domestic illegal volumes still very strong. • VAT hikes in Maharashtra. Along with smuggled contraband. Delhi. has emerged as substantive segment  Regulatory & Taxation • Pictorial Graphic warnings in place w.e. Rajasthan & Pondicherrythreatening the concept of the „Indian Common Market‟  Cost table increasing with increase in leaf costs 22 .

Hotels & Tourism 23 .

Beijing alone has as many hotel rooms as the whole of India  India‟s luxury rooms availability lower than even smaller East Asian countries 80000 70000 60000 50000 40000 30000 20000 10000 0 HongKong Bangkok Singapore Malaysia India Source: Compendium of Tourism statistics. 35 million in China • The two nations were on par 2 decades ago at 750. Vs. WTO 24 .Hotels & Tourism industry  Foreign arrivals into India: 5 million appx.000 arrivals  Today.

000 rooms of which 5 Star category accounts for appx. 30%  India needs an additional 50.Indian Hotel Industry  Current supply – appx.000 rooms in the next 2/3 years to service projected tourist arrivals  Present mismatch between supply and demand expected to persist over the short term  As infrastructure for trade & commerce improves .growing potential for leisure tourism 25 . 110.

mid-scale Heritage Brand ITC Hotel: Luxury Collection WelcomHotel: Sheraton Fortune Hotels WelcomHeritage Positioning "Mansions of Luxury" "Passion for Quality" "Promise of True Value" "Unique Experiences"  Bangalore 292 room luxury hotel launched in October „09  Capacity expansion underway at Chennai & Kolkata.  Fastest growing hotel chain with highest operating efficiency (PBDIT/Net Income @ 40%) amongst the 3 leading chains  Leverages unique service proposition and international alliance with Starwood Hotels & Resorts . plans for other locations also being progressed.„Luxury Collection‟ / „Sheraton‟ 26 .ITC‟s Hotel Business  ITC-Welcomgroup : a leading hotel chain in India • Established presence in key business locations • Over 6000 rooms under 4 distinct brands Category Luxury Upper upscale Upscale .

• Also operates 60 properties under the „WelcomHeritage‟ brand in 19 states . 27 .ITC‟s Hotel Business • Manages 34 full service mid-market properties (2000 + rooms ) under the Fortune Hotels brand – 21 more hotels in pipeline.Maharaja Heritage Resorts Ltd. room inventory.4800 appx. – 100% subsidiary company : Fortune Park Hotels Ltd. 50% JV with Marudhar Hotels (P) Ltd.

Paperboards. Paper & Packaging 28 .

the fastest growing segment (15% p.) in India driven by the growing sophistication of the consumer 29 .a.a.Indian paperboard market  Annual paperboard demand – appx.  Value Added Coated board . (world average – over 55 kgs p.)  Indian paperboard market growing at 7% p.a.a. 2 million tonnes  Fragmented capacity & obsolete technology  Low per capita usage at around 7 kgs p.

80 lac MT 30 . 2.value added coated boards  World-class contemporary technology • Ozone bleached Pulp Mill fully operational – only one of its kind in Asia meeting world-class environmental standards  Internationally competitive quality and cost  Social farm forestry in mill command area to improve access to cost effective fibre & to attain self-sufficiency • Biotech research based high yielding Clones – effectiveness tested in > 1.ITC‟s Paperboards Business  Market leader in growth segment .000 hectares  Fully integrated operations with in-house pulping capacity at appx.00.

000 TPA paperboards machine underway  ITC‟s packaging SBU -India‟s largest converter of paperboard into high quality printed packaging • Leading supplier to Indian FMCG and Consumer Electronic segments • Provides superior packaging solutions to the cigarettes and new FMCG businesses 31 .ITC‟s Paperboards & Packaging businesses  Capacity expansion projects installed – at optimum capacity utilization • 120000 TPA Pulp Mill – Machine stabilised • 100000 TPA paper machine (to support Education & Stationery business growth plans) Machine stabilized • Investment in 100.

Agri Businesses .Leaf Tobacco .Agri Commodities 32 .

robust growth in export volumes with improvement in realization over the last 2 years 33 .Indian Leaf Tobacco industry  India – the third largest producer of tobacco  However. superior Burley and Oriental tobaccos in India  Export business . India‟s share is only 7% in world tobacco trade  Upgradation of tobacco consumption from other formats to cigarettes will enable: • growing domestic base & larger opportunities for value added exports  ITC – India‟s largest buyer. processor. consumer & exporter of cigarette tobaccos  6th largest leaf tobacco exporter in the world  Pioneering cultivation of flavourful Flue-cured.

Coffee etc. Marine products. Focus on value added agri commodities  Unique CRM programme in commodity exports  Leveraging initiative • • IT for the transformational „e-Choupal‟ Rural India‟s largest Internet-based intervention Over 40000 villages linked through around 6500 e-Choupals servicing over 3.5 million farmers  Distinctive sourcing capability for ITC‟s Foods business 34 . Wheat.ITC‟s Agri Commodity Business  Farm linkages in 14 states covering Soya.

potato etc.e-choupal: Strategic Thrust  Procurement: cost & quality optimisation • strategic sourcing support to the Foods business (support creation of verticals in wheat.  Financial Services • insurance (focus: weather) • credit (focus: Kisan Credit Card scheme)  Rural retail • 24 Choupal Saagars operational 35 .) • cost-effective sourcing for exports/domestic external business  Rural Distribution • „last mile connectivity‟: 100 partnering companies • diverse range of goods/services: FMCG. agri-inputs. consumer durables. soya. corn. paid extension services etc.

Future Growth & Value Capture New FMCG Initiatives 36 .

Strategic Rationale  Blend multiple competencies residing within the ITC Group to create new avenues of growth  Best fit between internal capabilities and emerging market opportunities  Each segment enhances the depth and width of ITC‟s FMCG distribution capability  Business model retains critical elements of value chains within ITC with other elements outsourced • Contributing to the competitiveness of SMEs 37 .

Conserves & Chutneys and Frozen Foods). Bridge products : Bingo! • Confectionery – Candyman. Aashirvaad (Instant Mixes & Cooking Pastes). Sunfeast Pasta 38 .Branded Packaged Foods  Leverages: • Unique Agri sourcing skills • ITC Welcomgroup‟s specialist cuisine & bakery knowledge • FMCG distribution synergies • ITC R&D Centre. Spices • Biscuits – Sunfeast • Salty Snacks – Potato chips. mint-o • Ready to Eat – Kitchens of India (Ready to Eat. Bangalore  5 chosen categories: • Staples – Aashirvaad Atta. Salt.

Branded Packaged Foods • Aashirvaad Atta: – Current market leader amongst national branded players. leverages the echoupal network for cost-quality optimisation and region specific offerings • Sunfeast Biscuits: – Differentiated & innovative products. distributed & outsourced supply chain being ramped up – Targeted cost management actions shore up margins • Number of innovative products in the pipeline leveraging the capabilities of the ITC R&D Centre 39 . continues to build consumer franchise.

200 multi branded outlets and departmental stores • Wills Lifestyle rated amongst the top 5 Luxury brands in the country (Global Luxury Survey conducted by TIME Magazine) 40 .Lifestyle Retailing  Leverages trade mark and services expertise of hotels  Relaxed wear market growth > 20% p. „Wills Sport‟ relaxed wear and „Wills Clublife‟ evening wear • Designer association with leading Indian designers – „Wills Signature‟ line • Strong distribution network in place for the mid-market brand „John Players‟ • availability in 225 Exclusive Branded outlets.a  Upmarket product range available in exclusive Wills Lifestyle stores (56) and multi-branded outlets/ large format retail stores across the country • Premium segment comprising the „Classic‟ range of formal wear.

Scholastic products launched • Branded Copier Paper „Paperkraft‟ footprint being enhanced.Education & Stationery Products Business  Leverages print and paper know-how. Enthusiastic customer response based on green credentials. Offers opportunity for branding  Robust distribution network in place to scale up the Stationery business significantly • „Classmate’ brand already the most widely distributed brand in India.  An emerging (currently Rs 9000 cr stationery) market in India . govt. spending on education • Mostly commoditized.  Comprehensive portfolio approach with new variant/category launches 41 . Forward linkages with new paper capacity (already commissioned).growth driven by increasing cross-cultural exposure.

Ship.50 p price point to Re 1.Safety Matches  Current industry consumer spend estimated at Rs.00. 1250 crores p. by Russell Credit • Key brands: Homelites. Cheetah Fight etc. 42 .  ITC markets its brands with value added products across each price point • Support SMEs with complementary marketing strengths  „AIM‟ – India‟s largest selling Safety Matches brand  Successful acquisition of WIMCO Ltd.a. for 24 billion match boxes  Fragmented supply base arising from policy of reservation for small scale industry  Mass market moving from 0.

 Fragmented supply base arising from policy of reservation for small scale industry  ITC markets its brands with value added products across each price point • „Mangaldeep‟ : second largest national brand in the country • Support cottage sector with complementary marketing strengths • Provides livelihood opportunities to more than 8000 under privileged women 43 .a. 900 crores p.Incense sticks (Agarbattis)  Current industry consumer spend estimated at over Rs.

a. 29000 crores (growing at 12% p. conditioner). gaining customer acceptance  Supported by investments in brands – celebrity endorsements  Investments being made in Research & Development and strategic tax incentivised manufacturing sites 44 .  Portfolio approach straddling all consumer segments with 4 umbrella brands • • • Essenza Di Wills (Prestige) Fiama Di Wills (Premium) Vivel Di Wills and Vivel (Mid) • Superia (Popular)  Products well received in the market. Hair Care (Shampoos.)  ITC presence established in Body Wash (Soaps.Personal Care Products  Current market size estimated at over Rs. shower gels).  Product portfolio enlarged with the launch of Fairness cream.

future prospects. Such risks and uncertainties include. These statements involve a number of risks. may be “forward looking statements” within the meaning of applicable securities laws and regulations. estimates. changes in Government regulations. 45 . uncertainties and other factors that could cause actual results to differ materially from those that may be projected or implied by these forward looking statements. but are not limited to: growth. domestic and international economic conditions affecting demand. Investors are cautioned that “forward looking statements” are based on certain assumptions of future events over which the Company exercises no control. expectations etc. supply and price conditions in the various businesses in the Company’s portfolio. and the ability to attract and retain high quality human resource. tax regimes and other statutes.Forward-looking Statements Statements in this presentation describing the Company’s objectives. Therefore there can be no guarantee as to their accuracy. competition. acquisitions.

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