ITC Limited
Statement of Standalone Unaudited Financial Results for the Quarter and Six Months ended 30th September, 2018
(₹ in Crores)
Particulars | 3 Months ended 30.09.2018 | Corresponding 3 Months ended 30.09.2017 | Preceding 3 Months ended 30.06.2018 | 6 Months ended 30.09.2018 | 6 Months ended 30.09.2017 | Twelve Months ended 31.03.2018 | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
Gross Revenue from sale of products and services Other operating revenue REVENUE FROM OPERATIONS[(i)+(ii)] OTHER INCOME TOTAL INCOME (1+2) | (i) (ii) 1 2 3 | 11094.89 177.62 | 9676.20 87.72 | 10722.22 152.37 | 21817.11 329.99 | 23398.41 165.93 | 43956.90 372.87 |
11272.51 504.12 11776.63 | 9763.92 494.21 10258.13 | 10874.59 403.85 11278.44 | 22147.10 907.97 23055.07 | 23564.34 970.98 24535.32 | 44329.77 2129.84 46459.61 | ||
EXPENSESa) b) c) Cost of materials consumed Purchases of stock-in-trade Changes in inventories of finished goods, stock-in-trade, work-in-progress and intermediates d) e) f) g) h) Excise duty Employee benefits expense Finance costs Depreciation and amortization expense Other expenses TOTAL EXPENSES | 4 | 3381.90 876.09 21.68 203.66 596.31 13.50 327.47 1986.90 7407.51 | 2858.00 558.82 939.55 (550.21) 606.54 29.01 282.42 1589.71 6313.84 | 3052.92 1254.38 (197.92) 167.56 742.97 7.34 298.69 1652.56 6978.50 | 6434.82 2130.47 (176.24) 371.22 1339.28 20.84 626.16 3639.46 14386.01 | 5752.90 1549.71 889.76 3295.55 1281.17 39.39 550.63 3287.34 16646.45 | 11756.21 2991.98 1041.85 3702.23 2487.46 86.65 1145.37 6809.06 30020.81 |
PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3-4) EXCEPTIONAL ITEMS PROFIT BEFORE TAX (5+6) TAX EXPENSE
PROFIT FOR THE PERIOD (7-8) OTHER COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE INCOME (9+10) PAID UP EQUITY SHARE CAPITAL (Ordinary Shares of ` 1/- each) RESERVES EXCLUDING REVALUATION RESERVES EARNINGS PER SHARE (of ` 1/- each) (not annualised):
| 5 6 7 8 9 10 11 12 13 14 | 4369.12 - 4369.12 1414.45 1340.09 74.36 2954.67 (200.12) (173.28) (8.52) (28.17) 9.85 2754.55 1224.19 2.42 2.40 | 3944.29 - 3944.29 1304.45 1320.39 (15.94) 2639.84 (29.04) (26.07) 1.14 (6.29) 2.18 2610.80 1218.36 2.17 2.15 | 4299.94 - 4299.94 1481.26 1397.52 83.74 2818.68 78.42 96.04 (1.81) (24.30) 8.49 2897.10 1220.74 2.31 2.29 | 8669.06 - 8669.06 2895.71 2737.61 158.10 5773.35 (121.70) (77.24) (10.33) (52.47) 18.34 5651.65 1224.19 4.73 4.69 | 7888.87 - 7888.87 2688.53 2694.41 (5.88) 5200.34 127.78 138.05 (0.69) (14.64) 5.06 5328.12 1218.36 4.28 4.24 | 16438.80 412.90 16851.70 5628.45 5599.83 28.62 11223.25 382.34 426.22 (31.61) (18.69) 6.42 11605.59 1220.43 50179.64 9.22 9.16 |
Notes :
1 The Unaudited Standalone Financial Results, Segment Results and Balance Sheet were reviewed by the Audit Committee and approved by the Board of Directors of the Company at the meeting held on 26th October, 2018.
2 Consequent to the introduction of Goods and Services Tax (GST) with effect from 1st July 2017, Central Excise [other than National Calamity Contingent Duty (NCCD) on cigarettes], Value Added Tax (VAT) etc. have been replaced by GST. In accordance with Indian Accounting Standards and Schedule III of the Companies Act, 2013, GST, GST Compensation Cess, VAT, etc. are excluded and NCCD is not excluded from Gross Revenue from sale of products and services for applicable periods. In view of the aforesaid restructuring of indirect taxes, Gross Revenue from sale of products and services and Excise duty for the six months ended 30th September, 2018 are not comparable with the previous period.
On a comparable basis, Gross Sales Value^ (net of rebates and discounts) for the six months ended 30th September, 2018 and 30th September, 2017 are ₹36615.82 Crores and ₹32402.24 Crores respectively.
^Gross Sales Value includes GST, GST Compensation Cess, Service Tax, VAT, Luxury Tax etc., as applicable
3 The launch and rollout costs of the Company's brands 'Fiama', 'Vivel', 'Superia', 'Engage', 'Savlon' and 'Shower to Shower' covering the range of personal care products of soaps, face washes, shower gels, skin care, deodorants, handwash and ayurvedic talc, and the continuing significant brand building costs of the Foods businesses are reflected under 'Other expenses' stated above and in Segment Results under 'FMCG-Others'.
4 During the quarter ended 30th September, 2018, 3,45,02,440 Ordinary Shares of ` 1/- each were issued and allotted under the Company's Employee Stock Option Schemes (ESOS). Consequently, the issued and paid-up Share Capital of the Company as on 30th September, 2018 stands increased to ` 1224,19,14,761.
5 This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Limited Review
The Limited Review, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been completed and the related Report does not have any impact on the above 'Results and Notes' for the Quarter and Six months ended 30th September, 2018 which needs to be explained.
ITC Limited
(` in Crores)
Balance Sheet | STANDALONE | ||
Particulars | As at current half year end 30.09.2018 | As at previous year end 31.03.2018 | |
(Unaudited) | (Audited) | ||
A 1 2 B 1 2 | ASSETS NON-CURRENT ASSETS
Non-Current Assets CURRENT ASSETS
Current Assets TOTAL ASSETS EQUITY AND LIABILITIES EQUITY
Equity LIABILITIES NON-CURRENT LIABILITIES
Non-Current Liabilities CURRENT LIABILITIES
Current Liabilities TOTAL EQUITY AND LIABILITIES | 17300.11 3521.98 545.08 13.14 11889.98 7.99 88.13 - 1857.52 | 15120.00 5016.85 445.99 8.73 13493.77 7.40 1741.28 18.66 2025.63 |
35223.93 | 37878.31 | ||
7934.08 11852.49 3103.52 66.54 2268.57 4.27 1375.88 823.39 | 7237.15 9903.45 2357.01 96.03 2498.85 4.15 1147.95 1258.41 | ||
27428.74 | 24503.00 | ||
62652.67 | 62381.31 | ||
1224.19 49125.43 | 1220.43 50179.64 | ||
50349.62 | 51400.07 | ||
11.13 14.48 125.87 2061.97 38.44 | 11.13 35.36 121.91 1917.94 38.30 | ||
2251.89 | 2124.64 | ||
93.06 43.79 3537.51 932.01 4612.99 24.45 807.35 | - 29.43 3352.85 778.30 4656.78 39.24 - | ||
10051.16 | 8856.60 | ||
62652.67 | 62381.31 |
ITC LIMITED
Unaudited Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Six Months ended 30th September, 2018
Particulars
(` in Crores) | |||||||
Corresponding 3 | Preceding 3 | ||||||
3 Months | Months | Months | 6 Months | 6 Months | Twelve Months | ||
ended | ended | ended | ended | ended | ended | ||
30.09.2018 | 30.09.2017 | 30.06.2018 | 30.09.2018 | 30.09.2017 | 31.03.2018 | ||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
5026.06 | 4554.21 | 5127.59 | 10153.65 | 13328.37 | 22894.01 | ||
3160.35 | 2804.11 | 2870.03 | 6030.38 | 5405.00 | 11328.60 | ||
8186.41 | 7358.32 | 7997.62 | 16184.03 | 18733.37 | 34222.61 | ||
362.55 | 300.18 | 341.28 | 703.83 | 605.07 | 1417.51 | ||
2219.73 | 1967.98 | 3151.27 | 5371.00 | 4728.50 | 8067.67 | ||
1424.46 | 1309.41 | 1355.83 | 2780.29 | 2669.23 | 5249.64 | ||
12193.15 | 10935.89 | 12846.00 | 25039.15 | 26736.17 | 48957.43 | ||
1098.26 | 1259.69 | 2123.78 | 3222.04 | 3337.76 | 5000.53 | ||
11094.89 | 9676.20 | 10722.22 | 21817.11 | 23398.41 | 43956.90 | ||
3579.07 | 3291.67 | 3558.39 | 7137.46 | 6565.81 | 13340.82 | ||
58.45 | 20.49 | 50.12 | 108.57 | 25.92 | 164.12 | ||
3637.52 | 3312.16 | 3608.51 | 7246.03 | 6591.73 | 13504.94 | ||
15.56 | 4.24 | 13.22 | 28.78 | 9.55 | 139.79 | ||
236.07 | 256.20 | 194.51 | 430.58 | 491.31 | 848.62 | ||
310.91 | 274.19 | 295.66 | 606.57 | 531.48 | 1042.16 | ||
4200.06 | 3846.79 | 4111.90 | 8311.96 | 7624.07 | 15535.51 | ||
13.50 | 29.01 | 7.34 | 20.84 | 39.39 | 86.65 | ||
(182.56) | (126.51) | (195.38) | (377.94) | (304.19) | (989.94) | ||
- | - | - | - | - | (412.90) | ||
4369.12 | 3944.29 | 4299.94 | 8669.06 | 7888.87 | 16851.70 | ||
8255.27 | 8389.61 | 7921.69 | 8255.27 | 8389.61 | 7956.89 | ||
8488.58 | 7744.46 | 8617.93 | 8488.58 | 7744.46 | 7623.20 | ||
16743.85 | 16134.07 | 16539.62 | 16743.85 | 16134.07 | 15580.09 | ||
5793.13 | 5356.60 | 5693.28 | 5793.13 | 5356.60 | 5520.54 | ||
3322.49 | 2929.88 | 3491.69 | 3322.49 | 2929.88 | 3407.41 | ||
6979.35 | 6774.68 | 6861.90 | 6979.35 | 6774.68 | 6739.83 | ||
32838.82 | 31195.23 | 32586.49 | 32838.82 | 31195.23 | 31247.87 | ||
29813.85 | 25898.12 | 34371.89 | 29813.85 | 25898.12 | 31133.44 | ||
62652.67 | 57093.35 | 66958.38 | 62652.67 | 57093.35 | 62381.31 | ||
a) | FMCG - Cigarettes* | 4408.37 | 4416.35 | 4710.36 | 4408.37 | 4416.35 | 4624.83 |
2100.21 | 1749.29 | 1906.46 | 2100.21 | 1749.29 | 1906.52 | ||
Total FMCG | 6508.58 | 6165.64 | 6616.82 | 6508.58 | 6165.64 | 6531.35 | |
b) | Hotels | 600.31 | 479.61 | 601.18 | 600.31 | 479.61 | 521.45 |
c) | Agri Business | 949.21 | 1198.51 | 930.69 | 949.21 | 1198.51 | 900.18 |
d) | Paperboards, Paper & Packaging | 871.52 | 749.53 | 764.87 | 871.52 | 749.53 | 787.13 |
Total | 8929.62 | 8593.29 | 8913.56 | 8929.62 | 8593.29 | 8740.11 | |
Unallocated Corporate Liabilities | 3373.43 | 3925.49 | 3599.35 | 3373.43 | 3925.49 | 2241.13 | |
12303.05 | 12518.78 | 12512.91 | 12303.05 | 12518.78 | 10981.24 |
a) | FMCG - Cigarettes |
Total FMCG | |
b) | Hotels [Note (iii)] |
c) | Agri Business |
d) | Paperboards, Paper & Packaging |
Total | |
Unallocated Corporate Assets | |
a) | FMCG - Cigarettes |
- Others [Note (i)] | |
Total FMCG | |
b) | Hotels |
c) | Agri Business |
d) | Paperboards, Paper & Packaging |
Total | |
Less : | |
a) | FMCG - Cigarettes |
Total FMCG | |
b) | Hotels |
c) | Agri Business |
d) | Paperboards, Paper & Packaging |
Total | |
4. |
3. |
Profit Before Tax |
2. |
Less : Inter-segment revenue |
Gross Revenue from sale of products and services @ |
1. |
Total Liabilities |
@ Refer Note 2 to the Statement of Standalone Financial Results. |
Segment Revenue
- Others
Segment Results
i) Finance Costs
ii) Other un-allocable (income) net of un-allocable expenditure [Note (ii)]
iii) Exceptional items
Segment Assets
- Others
Total AssetsSegment Liabilities
- Others
STANDALONE
* Segment Liabilities of FMCG-Cigarettes is before considering ` 122.02 Crores (30.09.2017 - ₹ 638.09 Crores; 30.06.2018 - ` 121.29 Crores and 31.03.2018 - ₹ 233.02 Crores) in respect of certain disputed taxes. These have been included under 'Unallocated Corporate Liabilities'.
Note (i): In respect of FMCG-Others segment, earnings before interest, taxes, depreciation and amortization (EBITDA), for the quarter and six months ended 30.09.2018 is ₹ 158.84 Crores and ₹ 286.60 Crores respectively (quarter ended 30.09.2017 - ₹ 89.77 Crores; quarter ended 30.06.2018 - ₹ 127.76 Crores; six months ended 30.09.2017 - ₹ 158.57 Crores and twelve months ended 31.03.2018 - ₹ 455.58 Crores).
(ii): As stock options are granted under ITC ESOS to align the interests of employees with those of shareholders and also to attract and retain talent for the enterprise as a whole, the option value of ITC ESOS do not form part of the segment performance reviewed by the Corporate Management Committee.
(iii): Consequent to the judgement and order dated 19th March, 2018 of the Hon'ble Supreme Court of India, the Company has on 19th September, 2018 taken the possession of Park Hyatt Goa Resort & Spa. The hotel has since commenced commercial operations from 15th October, 2018 as ITC Grand Goa, Resort & Spa.
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.
The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Corporate Management Committee, which is the Chief Operating Decision Maker.
(2) The business groups comprise the following :
FMCG : Cigarettes
-
Cigarettes, Cigars etc.
-
Branded Packaged Foods Businesses (Staples; Snacks and Meals; Dairy and
Beverages; Confections); Apparel; Education and Stationery Products; Personal
Care Products; Safety Matches and Agarbattis.
-
Hoteliering.
Paperboards, Paper & Packaging
-
Paperboards, Paper including Specialty Paper & Packaging including Flexibles.
Agri Business
-
Agri commodities such as soya, spices, coffee and leaf tobacco.
: Others
Hotels
(3) Segment results of 'FMCG : Others' are after considering significant business development, brand building and gestation costs of Branded Packaged Foods businesses and Personal Care Products business.
Registered Office :
Virginia House, 37 J.L. Nehru Road, Kolkata 700 071, India
For and on behalf of the BoardDated : 26th October, 2018 Place : Gurugram, India
Director & Chief Financial Officer
Managing Director
Chairman
Website:www.itcportal.com| E-mail: enduringvalue@itc.in | Phone: +91-33-2288 9371 | Fax: +91-33-2288 0655 | CIN : L16005WB1910PLC001985
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ITC Limited published this content on 26 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 October 2018 09:46:10 UTC