MIRA INFORM REPORT

Report Date :

26.12.2014

IDENTIFICATION DETAILS

Name :	ITC LIMITED (w.e.f.1974)
Formerly Known As :	Imperial Tobacco Company of India Limited
Registered Office :	Virginia House, 37, Jawaharlal Nehru Road, Kolkata – 700071, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.08.1910
Com. Reg. No.:	21-001985
Capital Investment / Paid-up Capital :	Rs. 7953.200 Millions
CIN No.: [Company Identification No.]	L16005WB1910PLC001985
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACI5950L
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer of Cigarettes and Tobacco. It is also engaged in Hotel Business.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Aa (81)

RATING		STATUS	PROPOSED CREDIT LINE
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large

Maximum Credit Limit :	USD 7500000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	ITC is a Diversified Group. It is a well-established and a reputed company having excellent track record. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payment are reported to be regular and as per commitments. Company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	AAA [Long Term]
Rating Explanation	Highest degree of safety and lowest credit risk.
Date	27.06.2014

Rating Agency Name	CRISIL
Rating	A1+ [Short Term]
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	27.06.2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED

Management non co-operative (91-33-22886426)

LOCATIONS

Registered Office / Service Centre :	Virginia House, 37, Jawaharlal Nehru Road, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-22886426/ 22880034/ 22889371
Fax No.:	91-33-22882358
E-Mail :	itcsec@cal3.vsnl.net.in itcisc@vsnl.net isc@itc.in
Website :	www.itcportal.com
Hotel :	Oberio Flight Services, Sahar Airport Road, Andheri (East), Mumbai - 400099, Maharashtra, India
Headquarters :	84 (Old No.90) Chamiers Road, Chennai - 600018, Tamilnadu, India
Tel. No.:	91-44-42081508
Fax No.:	91-44-24340294
Factory 1:	Integrated Industrial Estate, Sidcuil, Plot No. 1, Sector 11, Hardwar – 249403, Uttarkhand, India
Tel. No.:	91-1334-322483
Fax No.:	91-1334-235383
Factory 2:	P O Box 2277, Thiruvottur, Chennai – 600019, Tamilnadu, India
Tel. No.:	91-44-25733121
Fax No.:	91-44-25733852
Factory 3:	Plot No. B 27, MIDC Ranjangaon, Pune - 412222, Maharashtra, India
Factory 4:	Peenya Industrial Area, 1^st Phase, Bangalore-560058, Karnataka, India
Head Office :	ITC Hotel Kakatiya Sheraton and Totheyrs, 63-3-1187, Begumpet, Hyderabad -500016, Andhra Pradesh, India
Tel. No.:	91-40-23400132
Fax No.:	91-40-23401045
Corporate Office :	Kakatiya Sheraton and Totheyrs, Begumpet, Hyderabad, Andhra Pradesh, India
Branch Office :	International Sales No. 106, Sardar Patel Road – 500003, Andhra Pradesh, India
Tel. No.:	91-40-27843768
Fax No.:	91-40-27810034
Plants :	Cigarette Factories Bangalore v Meenakunte Village, Jallahobli, Bangalore (North) - 562 157, Karnataka, India Kolkata v 93/1, Karl Marx Sarani, P. B. No. 17203, Kolkata - 700 043, West Bengal, India Munger v Basdeopur P. O., District Munger - 811 202, Bihar, India Saharanpur v Sardar Patel Marg, P. O. Box No. 25, Saharanpur - 247 001, Uttar Pradesh, India Ranjangaon v 4. Plot No. B-27, MIDC Ranjangaon, Taluka Shirur District Pune 412 220, Maharashtra , India Green Leaf Threshing Plants Anaparti v East Godavari District, Anaparti - 533 342, Andhra Pradesh, India Chirala v Prakasam, P. B. No. 1, Chirala - 523 157, Andhra Pradesh, India Nanjangud 3. Immavu and Adakanahalli Village Nanjangud Taluk Mysore - 571 302, Karnataka, India Packaging and Printing Plants Chennai v Post Box No. 2277, Tiruvottiyur, Chennai - 600 019, Tamilnadu, India Tel No.: 91-44-25733121/25733171/25733181 Fax No.: 91-44-25733852 Haridwar v Plot No. 1, Sector 11, Integrated Industrial Estate, Haridwar – 249403, Uttarkhand, India Munger v Basdeopur P. O., District Munger, Munger - 811 202, Bihar, India Tel No.: 91-6344-220505/16/17 / 2201892/222126/142/146 Fax No.: 91-6344-222443/222839 Paper and Paperboard Mills Bollaram v Anrich Industrial Estate, Village Bollarum, Medak District, Andhra Pradesh – 502 325 Sarapaka v Sarapaka, Khammam District - 507 128, Andhra Pradesh, india Thekkampatty v Thekkampatty Village, Vivekanandapuram Post, Mettupalayam Taluk, Coimbatore – 641113, Tamilnadu, India Tribeni v P O Chandrahati, District Hooghly – 712 504, West Bengal, India Cast Coating Plant Anrich Industrial Estate, Village Bollarum, Medak District - 502 325, Andhra Pradesh, India Lifestyle Retailing Design and Technology Centre v 86, Industrial Estate, Phase I, Udhyog Nagar, Gurgaon - 122 016, Haryana, India FOODS FACTORIES Haridwar 1. Plot No. 1, Sector 11 Integrated Industrial Estate Haridwar - 249 403 Uttarakhand, Inda Ranjangaon 2. Plot No. D-1, MIDC Ranjangaon Taluka Shirur District Pune – 412 220, Maharashtra, India PERSONAL CARE PRODUCTS FACTORIES Haridwar 1. Plot No. 1, Sector 11, Integrated Industrial Estate, Haridwar -249 403, Uttarakhand, India Manpura 2. Village Manpura, Tehsil Baddi, District Solan - 174 101, Himachal Pradesh , India HOTELS Owned Hotels Agra 1. ITC Mughal* Taj Ganj Agra - 282 001, Uttar Pradesh, India Bengaluru 2. ITC Gardenia* 1, Residency Road, Bengaluru-560 025, Karnataka, India 3. ITC Windsor* 25, Windsor Square, Golf Course Road, Bengaluru - 560 052, Karnataka, India Chennai 4. My Fortune, Chennai, Cathedral Road, Chennai - 600 086, Tamilnadu, India Jaipur 5. ITC Rajputana* Palace Road, Jaipur- 302 006, Rajasthan, India Kolkata 6. ITC Sonar*, 1, JBS Haldane Avenue, Kolkata - 700 046, West Bengal, India Mumbai 7. ITC Maratha*, Sahar, Mumbai - 400 099, Maharashtra, India 8. ITC Grand Central*, 287, Dr. B. Ambedkar Road, Parel, Mumbai - 400 012, Maharashtra, India New Delhi 9. ITC Maurya*, Sardar Patel Marg, Diplomatic Enclave,New Delhi -110 021, India 10. Sheraton New Delhi Hotel, District Centre, Saket,New Delhi - 110 017, India Licenced Hotels Kota 11. WelcomHeritage, Umed Bhawan Palace, Palace Road, Kota 324 001, Rajasthan, India Port Blair 12. Fortune Resort Bay Island, Marine Hill, Port Blair -744 101 Vadodara 13. WelcomHotel Vadodara, R. C. Dutt Road, Alkapuri, Vadodara - 390 007, Gujarat, India Hotels Under Operating Services Aurangabad 14. WelcomHotel Rama International, R-3, Chikalthana, Aurangabad- 431 210, Gujarat, India Chennai 15. Sheraton Park Hotel & Towers, 132, T. T. K. Road, Chennai - 600 018, Tamilnadu India Hyderabad, 16. ITC Kakatiya*, 6-3-1187, Begumpet, Hyderabad - 500 016, India Visakhapatnam 17. WelcomHotel Grand Bay, Beach Road, Visakhapatnam - 530 002, Andhra Pradesh, India CHOUPAL SAAGARS - RURAL SERVICES CENTRES Located At: · Amravati · Badaun · Bahraich · Chandouli · Chindwara · Dewas · Dhar · Gonda · Hardoi · Hathras · Itarsi · Jagdishpur · Mandsaur · Mhow · Nagda · Parbhani · Pilibhit · Ratlam · Sehore · Ujjain · Vidisha · Wardha · Washim LIFESTYLE RETAILING Design and Technology Centre v Gurgaon Wills Lifestyle Stores Located At: · Agra · Ahmedabad · Aurangabad · Belgaum · Bengaluru · Bhopal · Bhubaneshwar · Chandigarh · Coimbatore · Dehradun · Ernakulam · Ghaziabad · Gurgaon · Gurgaon · Hyderabad · Indore · Jalandhar · Jaipur · Jammu · Kanpur · Kolkata · Lucknow · Ludhiana · Mumbai / Thane · Nagpur · Nashik · New Delhi · Noida · Panjim · Patna · Pune · Raipur · Ranchi · Siliguri · Surat · Vadodara · Visakhapatnam · John Players Stores* · Bengaluru · Chennai · Hyderabad · Kolkata · Mumbai / Thane
Division Headquarters :	Chief Executive Mr. S. Sivakumar ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office:  91-40-27800875 / 27801533 Fax: 91-40-27804476 Email  :   sivakumar.s@itc.in Head of Finance Mr. C V Sarma ITC - International Business Division 31, Sarojini Devi Road, Secunderabad -500003 Office :   91-40-27801625 Fax    :   91-40-27804476 Email  :   sarma.cv@itc.in Vice President - HRD Mr. K. T. Prasad ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office :   91-40-27804642 Fax    :   91-40-27804476 Email  :   prasad.kt@itc.in Chief Information Officer Mr. V. V. Rajasekhar ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office :   91-40-55318040 Fax    :   91-40-27804476 Email  :   Rajasekhar.VV@itc.in Chief Manager - Processed Fruits Mr. Ninad Bhosle ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office :   91-40-27803401 Fax    :   91-40-27804476 Email  :   Ninad.Bhosle@itc.in / Raghuraj@itc.in Vice President - Operations Mr. Rajnikant Rai ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office :   91-40-27803401 Fax    :   91-40-27804476 Email  :   Rajnikant.Rai@itc.in / SudipKumar.Basu@itc.in Trader - Edible Nuts and Spices Mr. Rahul Poddar ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office :   91-40-27805650 Fax    :   91-40-27804476 Email  :   Rahul.Poddar@itc.in Chief Trader - Coffee and Spices Mr. Ninad Bhosle ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office :   91-40-27805650 Fax    :   91-40-27804476 Mobile :   98494-11555 Email  :   Ninad.Bhosle@itc.in / Mayank.Shah@itc.in Chief Manager - Aqua Mr. S. Biswas ITC - International Business Division 31, Sarojini Devi Road, Secunderabad - 500003 Office :   91-40-27801914 Fax    :   91-40-27804476 Email  :   Biswas.S@itc.in / Ranganathan.S@itc.co.in

DIRECTORS

As on 31.03.2014

Name :

Mr. Yogesh Chander Deveshwar

Designation :

Whole Time Director

Address :

10, Fountain Couret, 7/1 Little Russell Street, Kolkata – 700071, West Bengal, India

Date of Birth/ Age :

04.02.1947

PAN No.:

AEBPD7640A

Voter ID No.:

DWK1395706

Date of Appointment :

0502.2012

DIN No.:

00044171

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L16005WB1910PLC001985	ITC LIMITED	Whole-time director	05/02/2012	24/02/1994	-	Active	NO
2	U67120WB1893NPL000761	THE BENGAL CHAMBER OF COMMERCE AND INDUSTRY	Director	02/01/1996	02/01/1996	22/09/2010	Active	NO
3	U70100WB1946GAP014545	WOODLANDS MEDICAL CENTRE LIMITED	Director	20/02/1998	20/02/1998	23/06/2008	Amalgamated	NO
4	U80100TG1997NPL036631	INDIAN SCHOOL OF BUSINESS	Director	21/12/1998	21/12/1998	-	Active	NO
5	L22121DL2002PLC117874	HT MEDIA LIMITED	Director	05/05/2004	05/05/2004	19/12/2011	Active	NO
6	U75142WB1967SGC026988	WEST BENGAL INDUSTRIAL DEVELOPMENT CORPN LTD	Director	29/12/2004	29/12/2004	30/09/2010	Active	NO
7	U65991WB1996PLC077341	ITC INFOTECH INDIA LIMITED	Director	19/05/2011	03/01/2011	-	Active	NO

Name :

Mr. Nakul Anand

Designation :

Whole Time Director

Address :

NO. 18, Gren Avenue, (Benind Pocket D-111 Vasant Kunj) Kisan Garh, New Delhi – 110070, India

Date of Birth/ Age :

05.11.1956

PAN No.:

AAEPA2880J

Voter ID No.:

WDC0078410

Date of Appointment :

30.07.2014

DIN No.:

00022279

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U55101TN1970PLC005815	ADYAR GATE HOTELS LIMITED	Director	17/05/1996	17/05/1996	-	Active	NO
2	L63040DL1981PLC011941	INTERNATIONAL TRAVEL HOUSE LIMITED	Director	21/03/2009	06/01/1998	-	Active	NO
3	L55100GJ1982PLC005408	GUJARAT HOTELS LIMITED	Director	21/03/2009	10/03/1998	-	Active	NO
4	U55101HR1995PLC052281	FORTUNE PARK HOTELS LIMITED	Director	21/03/2009	10/03/1998	-	Active	NO
5	U74999TG1984PLC005192	SRINIVASA RESORTS LTD	Director	12/03/1998	12/03/1998	-	Active	NO
6	U74899HR1976PLC052282	BAY ISLANDS HOTELS LIMITED	Director	30/03/1998	30/03/1998	-	Active	NO
7	U74899DL1995PLC099649	MAHARAJA HERITAGE RESORTS LIMITED	Director	30/03/1998	30/03/1998	-	Active	NO
8	U74899HR1992PLC052412	LANDBASE INDIA LIMITED	Director	21/03/2009	29/09/2005	-	Active	NO
9	U93090DL1998NPL097629	YPO (DELHI CHAPTER) U/S25	Director	01/07/2006	01/07/2006	30/06/2010	Active	NO
10	U55101TG2009PTC063757	ESPIRIT HOTELS PRIVATE LIMITED	Additional director	24/09/2010	24/09/2010	28/09/2011	Active	NO
11	L16005WB1910PLC001985	ITC LIMITED	Whole-time director	30/07/2014	03/01/2011	-	Active	NO

Name :

Mr. Pradeep Vasant Dhobale

Designation :

Whole Time Director

Address :

7, Fountain Couret, 7/1 Little Russell Street, Kolkata – 700071, West Bengal, India

Date of Birth/ Age :

06.12.1956

PAN No.:

ABVPD5587B

Date of Appointment :

30.07.2014

DIN No.:

00274636

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65910MH1991PLC064662	BFIL FINANCE LIMITED	Director	10/09/1998	10/09/1998	01/04/2011	Active	NO
2	L16005WB1910PLC001985	ITC LIMITED	Whole-time director	30/07/2014	03/01/2011	-	Active	NO

Name :

Mr. Kurush Noshir Grant

Designation :

Whole Time Director

Address :

10, Fountain Couret, 7/1 Little Russell Street, Kolkata – 700071, West Bengal, India

Date of Birth/ Age :

22.08.1957

PAN No.:

ADXPG8211B

Voter ID No.:

HZG1094432

Date of Appointment :

26.07.2013

DIN No.:

00336288

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	26/11/1999	26/11/1999	13/09/2007	Active	NO
2	L16005WB1910PLC001985	ITC LIMITED	Whole-time director	26/07/2013	20/03/2010	-	Active	NO
3	U24291MH1923PLC001082	WIMCO LIMITED	Director	09/09/2010	25/03/2010	-	Active	NO
4	U85300WB1909GAP001941	TOLLYGUNGE CLUB LTD.	Director	07/08/2011	07/08/2011	-	Active	NO
5	U74300MH1952GAP008859	THE INDIAN SOCIETY OF ADVERTISERS	Director	11/09/2012	11/09/2012	-	Active	NO

Name :

Mr. Anil Baijal

Designation :

Director

Address :

e-524, 2^ND Floor, Greater Kailash, New Delhi – 110048, India

Date of Birth/ Age :

16.10.1946

PAN No.:

AAFPB9909G

Voter ID No.:

NEC1675263

Date of Appointment :

15.09.2014

DIN No.:

01608892

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U34101DL1993PLC053032	URBAN MASS TRANSIT COMPANY LIMITED	Director	05/09/2004	05/09/2004	21/02/2007	Active	NO
2	U16286KA1994GOI016286	BANGALORE METRO RAIL CORPORATION LIMITED	Director	28/06/2006	28/06/2006	16/09/2009	Active	NO
3	U74994DL2007PTC165988	STUDIO URBAN SPACE CONSULTANTS PRIVATE LIMITED	Director	18/07/2007	18/07/2007	25/10/2010	Active	NO
4	L16005WB1910PLC001985	ITC LIMITED	Director	15/09/2014	27/07/2007	-	Active	NO
5	U32204DL2007PTC171753	BS BROADCAST AND COMMUNICATION CONSULTANTS PRIVATE LIMITED	Director	20/12/2007	20/12/2007	-	Strike off	NO
6	U92190DL2008PTC174028	APNA ADHIKAR LEGAL SERVICES PRIVATE LIMITED	Director	14/02/2008	14/02/2008	-	Strike off	NO
7	U66000HR2007PLC052028	DHFL PRAMERICA LIFE INSURANCE COMPANY LIMITED	Director	01/06/2008	30/05/2008	-	Active	NO
8	U67190MH2007PLC174867	IDFC PPP TRUSTEESHIP COMPANY LIMITED	Director	29/06/2009	01/10/2008	-	Strike off	NO
9	L63040DL1981PLC011941	INTERNATIONAL TRAVEL HOUSE LIMITED	Director	10/09/2014	28/01/2009	-	Active	NO
10	L51909DL1963GOI004033	MMTC LIMITED	Director	12/06/2009	12/06/2009	11/06/2012	Active	NO
11	U70100WB2007PTC121171	URBANUS INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED	Director	21/01/2010	21/01/2010	27/09/2010	Amalgamated	NO
12	L45400MH2008PLC179914	FUTURE MARKET NETWORKS LIMITED	Director	28/09/2011	23/09/2010	26/12/2012	Active	NO
13	U45400DL2010PTC211559	TERRA FIRMA DESIGNS PRIVATE LIMITED	Managing director	20/12/2010	20/12/2010	-	Active	NO
14	U93000DL2011NPL215231	IDFC FOUNDATION	Director	12/09/2011	27/04/2011	-	Active	NO
15	U74920DL1988PTC031060	G4S SECURE SOLUTIONS (INDIA) PRIVATE LIMITED	Nominee director	01/03/2012	01/03/2012	21/05/2012	Active	NO

Name :

Mr. Angara Venkata Girija Kumar

Designation :

Non Executive Director

Address :

Flat No. 18, 9^th Floor, Alipore Estate, 8/6/1 Alipore Road, Kolkata – 700027, West Bengal

Date of Birth/ Age :

21.05.1960

PAN No.:

AGXPG7830M

Date of Appointment :

23.07.2010

DIN No.:

02921377

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L16005WB1910PLC001985	ITC LIMITED	Director	23/07/2010	19/03/2010	-	Active	NO
2	U10200WB1906GOI001713	NATIONAL INSURANCE CO LTD	Director	31/08/2014	10/05/2010	-	Active	NO
3	U85100DL2013PLC256581	HEALTH INSURANCE TPA OF INDIA LIMITED	Director	27/08/2014	23/05/2014	-	Active	NO

Name :

Mr. Sunil Behari Mathur

Designation :

Directors

Address :

A-10/10, Vasant Vihar, New Delhi – 110057, India

Date of Birth/ Age :

11.10.1944

PAN No.:

AGWPM9645F

Voter ID No.:

LLZ1039684

Date of Appointment :

15.09.2014

DIN No.:

00013239

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120MH1992PLC069769	NATIONAL STOCK EXCHANGE OF INDIA LTD.	Director	08/08/2014	11/03/2003	-	Active	NO
2	L24211TN1975PLC006989	E.I.D PARRY (INDIA) LIMITED	Director	24/11/2004	24/11/2004	28/11/2008	Active	NO
3	U65991MH1993GOI072051	UTI INFRASTRUCTURE TECHNOLOGY AND SERVICES LIMITED	Director	13/01/2005	13/01/2005	06/12/2007	Active	NO
4	L17124MP1947PLC000410	GRASIM INDUSTRIES LTD	Director	28/01/2005	28/01/2005	27/12/2007	Active	NO
5	U65990MH1987PLC044571	INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED	Director	30/01/2005	30/01/2005	-	Active	NO
6	U67200MH2004PTC144420	MUNICH RE INDIA SERVICES PRIVATE LIMITED	Director	03/03/2005	03/03/2005	-	Active	NO
7	U74140MH2004PLC148859	NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED	Director	12/03/2005	12/03/2005	-	Active	NO
8	U74999MH2003GOI141849	UTI INFRASTRUCTURE AND SERVICES LIMITED	Director	10/06/2005	10/06/2005	06/12/2007	Amalgamated	NO
9	L16005WB1910PLC001985	ITC LIMITED	Director	15/09/2014	29/07/2005	-	Active	NO
10	L65110GJ1993PLC020769	AXIS BANK LIMITED	Director	08/06/2010	14/10/2005	30/09/2014	Active	NO
11	U74899DL1999GOI101707	INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED	Director	30/11/2005	30/11/2005	29/11/2008	Active	NO
12	L31900DL1983PLC016304	HAVELLS INDIA LIMITED	Director	09/07/2014	24/01/2006	-	Active	NO
13	L70100MH1996PLC101379	HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED	Director	14/06/2006	14/06/2006	09/08/2014	Active	NO
14	U65990MH2002PLC137533	IDFC TRUSTEE COMPANY LIMITED	Director	26/09/2006	26/09/2006	-	Active	NO
15	U35201DL1996PTC083567	EMD LOCOMOTIVE TECHNOLOGIES PRIVATE LIMITED	Director	29/09/2006	29/09/2006	31/07/2010	Active	NO
16	U93090MH2006PTC165286	PINEBRIDGE INVESTMENTS TRUSTEE COMPANY (INDIA) PRIVATE LIMITED	Director	15/12/2006	15/12/2006	05/10/2012	Active	NO
17	U66010MH2007PLC166770	UNIVERSAL SOMPO GENERAL INSURANCE COMPANY LIMITED	Nominee director	20/08/2008	12/01/2007	29/08/2010	Active	NO
18	U52599TN1997PLC037948	SUBHIKSHA TRADING SERVICES LIMITED	Director	24/04/2007	24/04/2007	01/09/2008	Active	YES
19	U67120HR2005PLC036952	ORBIS FINANCIAL CORPORATION LIMITED	Director	14/08/2008	27/12/2007	08/01/2013	Active	NO
20	L74899DL1989PLC035140	DCM SHRIRAM INDUSTRIES LIMITED	Director	30/05/2014	14/01/2008	-	Active	NO
21	L65191RJ1943PLC000135	THE BANK OF RAJASTHAN LIMITED	Director	02/08/2008	04/03/2008	09/05/2009	Amalgamated	NO
22	U67190MH2007PTC174287	JM FINANCIAL ASSET RECONSTRUCTION COMPANY PRIVATE LIMITED	Director	03/05/2008	10/04/2008	31/03/2013	Active	NO
23	L45201TN1995PLC033541	SUBIKSHA RETAIL LIMITED	Director	26/09/2008	28/06/2008	02/02/2009	Active	NO
24	L26940MH2000PLC128420	ULTRATECH CEMENT LIMITED	Director	06/08/2014	10/09/2008	-	Active	NO
25	L11100GJ1996PLC029880	HINDUSTAN OIL EXPLORATION COMPANY LIMITED	Director	29/09/2009	30/09/2008	-	Active	NO
26	U67200MH1972GOI016133	GENERAL INSURANCE CORPORATION OF INDIA	Director	23/12/2009	23/12/2009	31/08/2012	Active	NO
27	L26959GJ2009PLC058011	SAMRUDDHI CEMENT LIMITED	Director	24/07/2010	18/05/2010	-	Amalgamated	NO
28	U66030TN2001PLC047977	CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED	Director	25/03/2013	23/07/2010	28/07/2014	Active	NO
29	U65923KA2006PTC040028	JANALAKSHMI FINANCIAL SERVICES PRIVATE LIMITED	Director	20/06/2014	21/10/2010	-	Active	NO
30	U65922DL2006FTC153640	INDIA MORTGAGE GUARANTEE CORPORATION PRIVATE LIMITED	Director	07/08/2013	29/06/2012	-	Active	NO
31	L74899DL1985PLC020401	MINDA CORPORATION LIMITED	Director	24/09/2013	01/09/2012	13/08/2014	Active	NO
32	L35921TN1949PLC002905	TUBE INVESTMENTS OF INDIA LIMITED	Director	02/08/2013	02/05/2013	08/08/2013	Active	NO

Name :

Mr. Pillappakkam Bahukutumbi Ramanujam

Designation :

Non-Executive Director

Address :

3, Angadi Street, Venkatshapuram Colony, Ayanavaram, Chennai – 600023, Tamilnadu, India

Date of Birth/ Age :

25.07.1944

PAN No.:

AAGPR9381P

Voter ID No.:

KFD3271087

Date of Appointment :

15.09.2014

DIN No.:

00046101

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current Designation Of The Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L16005WB1910PLC001985	ITC LIMITED	Director	15/09/2014	30/10/1998	-	Active	NO
2	L55101WB1983PLC036362	NICCO CORPORATION LTD	Director	27/10/1999	27/10/1999	02/08/2007	Active	NO
3	L40200WB1935PLC008184	LINDE INDIA LIMITED	Nominee Director	07/05/2002	07/05/2002	19/09/2007	Active	NO

Name :

Mr. Anthony Ruys

Designation :

Non-Executive Director

Address :

6, Koekoekslan, Wassenaar – 2243AT, Netherlands

Date of Birth/ Age :

20.07.1947

PAN No.:

BPCPR0393K

Date of Appointment :

24.07.2009

DIN No.:

02460407

Name :

Mr. Krishnamoorthy Vaidyanath

Designation :

Non-Executive Director

Address :

No. 167, Ferns City, Opposite Doddankundi, Outer Ring road, Bengaluru – 560037, Karnataka, India

Date of Birth/ Age :

02.01.1950

PAN No.:

ABHPV5887C

Voter ID No.:

HZG3613171

Date of Appointment :

29.07.2011

DIN No.:

00044357

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65991WB1996PLC077341	ITC INFOTECH INDIA LIMITED	Director	17/11/2008	15/12/1999	03/01/2011	Active	NO
2	L16005WB1910PLC001985	ITC LIMITED	Director	29/07/2011	17/01/2001	-	Active	NO
3	U65993WB1994PLC061684	RUSSELL CREDIT LTD	Director	14/02/2001	14/02/2001	03/01/2011	Active	NO
4	U55202WB1986PLC049467	GREENACRE HOLDINGS LTD	Director	14/02/2001	14/02/2001	03/01/2011	Active	NO
5	U45201WB1996PLC116323	CLASSIC INFRASTRUCTURE AND DEVELOPMENT LIMITED	Director	03/03/2001	03/03/2001	03/01/2011	Active	NO
6	U67120WB1893NPL000761	THE BENGAL CHAMBER OF COMMERCE AND INDUSTRY	Director	13/03/2001	13/03/2001	22/09/2010	Active	NO
7	U16003WB1935PLC008314	GOLD FLAKE CORPORATION LIMITED	Director	12/09/2001	12/09/2001	03/01/2011	Active	NO

Name :

Sahibzada Syed Bahib-Ur-Rehman

Designation :

Non-Executive Director

Address :

n-140, Panchsheel Parrk, New Delhi – 110017, India

Date of Birth/ Age :

20.03.1944

PAN No.:

AAEPR7929K

Voter ID No.:

DL/02/008/249794

Date of Appointment :

15.09.2014

DIN No.:

00050862

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L63040DL1981PLC011941	INTERNATIONAL TRAVEL HOUSE LIMITED	Director	09/03/1992	09/03/1992	21/03/2009	Active	NO
2	U74899HR1992PLC052412	LANDBASE INDIA LIMITED	Director	01/03/1994	01/03/1994	20/03/2009	Active	NO
3	U55101HR1995PLC052281	FORTUNE PARK HOTELS LIMITED	Director	26/07/1995	26/07/1995	21/03/2009	Active	NO
4	L55100GJ1982PLC005408	GUJARAT HOTELS LIMITED	Director	08/03/1996	08/03/1996	20/03/2009	Active	NO
5	U74899DL1995PLC099649	MAHARAJA HERITAGE RESORTS LIMITED	Director	02/07/1997	02/07/1997	20/03/2009	Active	NO
6	L16005WB1910PLC001985	ITC LIMITED	Director	15/09/2014	21/11/1997	-	Active	NO
7	L65910DL1989PLC034812	TOURISM FINANCE CORPORATION OF INDIA LIMITED	Director	15/05/2000	15/05/2000	17/09/2010	Active	NO
8	U55100MH2001PLC130621	MUMBAI INTERNATIONAL CONVENTION AND EXHIBITION CENTRE LIMITED	Director	29/01/2001	29/01/2001	18/07/2009	Active	NO
9	U74999TG1984PLC005192	SRINIVASA RESORTS LTD	Director	01/12/2006	01/12/2006	20/03/2009	Active	NO
10	U45201DL2005PTC142603	METRO VALLEY BUSINESS PARK PRIVATE LIMITED	Director	23/06/2009	20/05/2009	16/09/2013	Active	NO
11	U34200DL2008PTC172214	CARNATION AUTO INDIA PRIVATE LIMITED	Director	16/09/2010	15/02/2010	16/09/2013	Active	NO
12	U72200DL2001PLC111313	MAX HEALTHCARE INSTITUTE LIMITED	Director	28/09/2010	03/03/2010	23/09/2013	Active	NO
13	U55101MH1979PTC045117	NARANGS INTERNATIONAL HOTELS PRIVATE LIMITED	Director	03/05/2010	03/05/2010	06/08/2010	Active	NO

Name :

Meera Shankar

Designation :

Non-Executive Director

Address :

C 1/19, Bappa Nagar, Subramania Bharati Marg, New Delhi – 110003, India

Date of Birth/ Age :

09.10.1950

PAN No.:

BCIPS4161H

Date of Appointment :

15.09.2014

DIN No.:

06374957

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L16005WB1910PLC001985	ITC LIMITED	Director	15/09/2014	06/09/2012	-	Active	NO
2	L24100MH1969PLC014336	PIDILITE INDUSTRIES LIMITED	Director	25/09/2014	30/07/2014	-	Active	NO

Name :

Robert Earl Lerwill

Designation :

Non-Executive Director

Name :

Suryakant Balkrishna Mainak

Designation :

Non-Executive Director

Name :

Dinesh Kumar Mehrotra

Designation :

Director

Address :

A-6, Jivan Jyoti, Setalvad Lane, Nepean Sea Road, Mumbai- 400026, Maharashtra, India

Date of Birth/ Age :

05.05.1953

PAN No.:

ADQPM6804K

Date of Appointment :

30.07.2013

DIN No.:

00142711

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65992MH2003PTC139955	LIC NOMURA MUTUAL FUND TRUSTEE COMPANY PRIVATE LIMITED	Director	26/07/2005	26/07/2005	16/05/2008	Active	NO
2	L26940MH1936PLC002515	ACC LIMITED	Nominee director	14/10/2005	14/10/2005	28/07/2011	Active	NO
3	U65990MH1987PLC044571	INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED	Nominee director	07/07/2011	02/05/2006	23/05/2013	Active	NO
4	L16005WB1910PLC001985	ITC LIMITED	Director	30/07/2013	26/05/2006	26/10/2013	Active	NO
5	L65922MH1989PLC052257	LIC HOUSING FINANCE LTD	Nominee director	20/07/2011	20/05/2008	01/08/2013	Active	NO
6	U85310MH2001PLC133341	LICHFL CARE HOMES LIMITED	Nominee director	26/06/2008	29/05/2008	05/08/2011	Active	NO
7	U65100DL2008PLC184790	LIC CARDS SERVICES LIMITED	Director	09/08/2011	11/11/2008	01/06/2013	Active	NO
8	U67190MH2008PTC179718	LICHFL TRUSTEE COMPANY PRIVATE LIMITED	Director	11/08/2010	11/08/2010	08/08/2011	Active	NO
9	U67190MH1994PLC077858	LIC NOMURA MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED.	Nominee director	18/06/2011	18/06/2011	01/06/2013	Active	NO
10	U66020MH2007PLC176066	LIC PENSION FUND LIMITED	Nominee director	28/06/2011	28/06/2011	31/05/2013	Active	NO
11	U65900MH2008PLC178883	LICHFL ASSET MANAGEMENT COMPANY LIMITED	Nominee director	08/08/2011	08/08/2011	01/06/2013	Active	NO
12	L27100MH1907PLC000260	TATA STEEL LIMITED	Director	14/08/2013	22/10/2012	-	Active	NO
13	L51909MH2002PLC135594	MULTI COMMODITY EXCHANGE OF INDIA LIMITED	Nominee director	03/07/2013	03/07/2013	-	Active	NO
14	U65910TN1988PTC015757	COMPUTER AGE MANAGEMENT SERVICES PRIVATE LIMITED	Director	20/08/2014	06/03/2014	-	Active	NO

Name :

Hugo Powell Geoffey Powell

Designation :

Director

Address :

1150 Lakeshore Road, East, Oakville, Ontario, L6J1L2, Canada

Date of Birth/ Age :

26.01.1945

PAN No.:

AGMPP9799M

Date of Appointment :

03.07.2008

DIN No.:

02158655

Name :

Basudeb Sen

Designation :

Director

Address :

Gurudham, 109 Rashtraguru Avenue, Kolkata – 700028, West Bengal, India

Date of Birth/ Age :

16.06.1948

PAN No.:

AAGPS7838G

Voter ID No.:

RXC0956342

Date of Appointment :

27.08.2008

DIN No.:

00056861

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L16005WB1910PLC001985	ITC LIMITED	Director	27/08/2008	23/03/1995	27/08/2013	Active	NO
2	L51496WB1996PLC079932	SOUTH ASIAN PETROCHEM LIMITED	Director	31/01/2003	31/01/2003	-	Amalgamated	NO
3	U65999WB1994PLC065722	SREI ALTERNATIVE INVESTMENT MANAGERS LIMITED	Director	20/06/2003	20/06/2003	30/04/2013	Active	NO
4	L51909WB1986PLC040098	GUJARAT NRE COKE LTD	Director	18/12/2003	18/12/2003	18/03/2014	Active	NO
5	L70101WB1989PLC047465	SUMEDHA FISCAL SERVICES LTD	Director	13/09/2014	28/12/2005	-	Active	NO
6	U40200MH1995PLC088133	MAHANAGAR GAS LIMITED	Director	21/03/2006	21/03/2006	-	Active	NO
7	L27106MH1984PLC238266	JSW ISPAT STEEL LIMITED	Director	28/08/2008	30/06/2008	13/01/2011	Amalgamated	NO
8	L15492WB1916PLC002697	DHUNSERI PETROCHEM LIMITED	Director	14/08/2014	03/07/2010	-	Active	NO
9	L27106WB1987PLC042756	HIMADRI CHEMICALS & INDUSTRIES LTD	Director	28/09/2010	04/08/2010	23/09/2013	Active	NO
10	L51909WB1917PLC002767	AI CHAMPDANY INDUSTRIES LIMITED	Director	12/09/2012	30/05/2012	-	Active	NO

Name :

Mr. Balkrishnan Vijayaraghvan

Designation :

Director

Address :

g-89, Anna Nagar, Chennai – 600102, Tamilnadu, India

Date of Birth/ Age :

12.05.1935

PAN No.:

AABPV1617M

Date of Appointment :

27.08.2008

DIN No.:

00046203

Name :

Ms. Shilabhadra Banerjee

Designation :

Director

Address :

1464, Sector – 14, Faridabad – 121007, Haryana, India

Date of Birth/ Age :

27.10.1948

PAN No.:

ACEPB3449C

Date of Appointment :

23.07.2014

DIN No.:

02922331

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current Designation Of The Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L16005WB1910PLC001985	ITC LIMITED	Director	30/07/2014	04/02/2010	-	Active	NO
2	L74899DL1993PLC053677	IFCI LIMITED	Director	13/09/2011	30/04/2010	04/08/2012	Active	NO

Name :

Serajul Haq Khan

Designation :

Director

Address :

181, Antarisha Apartments, 95/96 Kakasaheb, Gadgil Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/ Age :

01.07.1936

PAN No.:

AAFPK1523M

Voter ID No.:

MT/04/019/039013

Date of Appointment :

15.09.2014

DIN No.:

00006170

Other Directorship :

S.NO.	CIN/LLPIN	NAME OF THE COMPANY/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120MH1992PLC069769	NATIONAL STOCK EXCHANGE OF INDIA LTD.	Director	15/04/1994	15/04/1994	17/07/2007	Active	NO
2	L65191TN1997PLC037415	IDFC LIMITED	Director	11/02/1998	11/02/1998	-	Active	NO
3	L35911PN1945PLC004656	BAJAJ HOLDINGS & INVESTMENT LIMITED.	Director	28/03/2014	22/03/1999	-	Active	NO
4	L63030MH1950GOI008033	SHIPPING CORPORATION OF INDIA LIMITED	Director	22/03/2000	22/03/2000	24/07/2007	Active	NO
5	U48985WB1992PLC095301	GREAT EASTERN ENERGY CORPORATION LIMITED	Director	20/05/2005	20/05/2005	05/12/2008	Active	NO
6	U66010PN2001PLC015959	BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED	Director	22/09/2006	22/09/2006	-	Active	NO
7	L16005WB1910PLC001985	ITC LIMITED	Director	15/09/2014	30/10/2006	-	Active	NO
8	U85110TN1999PTC043316	SUTHERLAND HEALTHCARE SOLUTIONS PRIVATE LIMITED	Director	22/09/2008	07/12/2007	24/12/2012	Active	NO
9	L65993PN2007PLC130076	BAJAJ AUTO LIMITED.	Director	01/04/2014	30/01/2008	-	Active	NO
10	L65923PN2007PLC130075	BAJAJ FINSERV LIMITED	Director	01/04/2014	30/01/2008	-	Active	NO
11	U67190MH2007PTC174287	JM FINANCIAL ASSET RECONSTRUCTION COMPANY PRIVATE LIMITED	Director	03/05/2008	10/04/2008	-	Active	NO
12	U66010PN2000PLC015329	BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED	Director	25/09/2009	26/09/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Biswa Behari Chatterjee
Designation :	Executive Vice President and Company Secretary
Address :	3, Lovelock Street, Kolkata – 700019, West Bengal, India
Date of Birth/ Age :	03.02.1953
PAN No.:	ABVPC6650Q
Voter ID No.:	WB/23/146/080131
Date of Appointment :	02.10.1990
Name :	Mr. Rajiv Tandon
Designation :	Chief Financial Officer
Name :	Kannadiputhur Sundararaman Suresh
Designation :	General Counsel
Audit Committee :	S B Mathur - Chairman A Baijal - Member P B Ramanujam - Member K Vaidyanath - Member P V Dhobale - Invitee R Tandon - Invitee R Parasuram – Invitee (Head of Internal Audit) Representative of Invitee the Statutory Auditors B B Chatterjee - Secretary
CSR and Sustainability Committee :	Y C Deveshwar - Chairman A V Girija Kumar - Member R E Lerwill - Member S B Mainak - Member A Ruys - Member M Shankar - Member B B Chatterjee - Secretary
Nomination and Compensation Committee :	S H Khan - Chairman Y C Deveshwar - Member S S H Rehman - Member M Shankar - Member K Vaidyanath - Member
Stakeholders Relationship Committee :	A V Girija Kumar - Chairman K N Grant - Member K Vaidyanath - Member B B Chatterjee - Secretary
Independent Directors Committee :	A Baijal - Member S H Khan - Member S B Mathur - Member P B Ramanujam - Member S S H Rehman - Member M Shankar - Member
Corporate Management Committee :	Executive - Directors Y C Deveshwar - Chairman N Anand - Member P V Dhobale - Member K N Grant – Member Executives A Nayak - Member T V Ramaswamy - Member S Sivakumar - Member K S Suresh - Member R Tandon - Member B B Chatterjee - Member and Secretary

SHAREHOLDING PATTERN

As on 30.09.2014

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
(2) Foreign
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1021186056	12.84
Financial Institutions / Banks	4523144	0.06
Insurance Companies	1750308497	22.01
Foreign Institutional Investors	1553188968	19.53
Any Others (Specify)	64811161	0.81
Foreign Institutional Investors	64811161	0.81
Sub Total	4394017826	55.24
(2) Non-Institutions
Bodies Corporate	292805590	3.68
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	665973701	8.37
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	131346224	1.65
Qualified Foreign Investor	309	0.00
Any Others (Specify)	2469893047	31.05
Foreign Corporate Bodies	2413942242	30.35
Foreign Nationals	519008	0.01
Trusts	10627140	0.13
Clearing Members	1420981	0.02
Non Resident Indians	43383676	0.55
Sub Total	3560018871	44.76
Total Public shareholding (B)	7954036697	100.00
Total (A)+(B)	7954036697	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	7974255211	0.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cigarettes and Tobacco. It is also engaged in Hotel Business.

Products :

ITEM CODE NO (ITC CODE)	PRODUCT DESCRIPTION
2402	Cigarettes
4810	Paper and Paperboard coated one or both sides with Kaolin
9963	Accommodation, food and beverage services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Not Divulged

Bankers :

• State Bank of India, 38, Chowringhee Lane, Kolkata - 700071, Theyst Bengal, India
• Standard Chartered Grindlays Bank Limited, 41, Chowringhee Lane, Kolkata - 700 071, West Bengal, India
• United Bank of India, 10 Netaji Subhas Road, Kolkata - 700001, West Bengal, India
• Citibank , Kolkata, West Bengal, India
• Industrial Development Bank of India
• Reserve Bank of India

Facilities :

SECURED LOAN	As on 31.03.2014 [Rs. in Millions]	As on 31.03.2013 [Rs. in Millions]
SHORT TERM BORROWINGS
Loans From Banks
Cash Credit Facilities	1.400	0.000
TOTAL	1.400	0.000

NOTES:

Cash credit facilities are secured by hypothecation of inventories of the Company, both present and future.

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Bengal Intelligent Park, Building Alpha, 1^st Floor, Block - EP and GP Sector - V, Salt Lake Electronics Complex, Kolkata - 700 091, West Bengal, India
PAN No.:	AADFD5357J
Memberships :	--
Collaborators :	--
Subsidiaries :	Srinivasa Resorts Limited Fortune Park Hotels Limited Bay Islands Hotels Limited WelcomHotels Lanka (Private) Limited, Sri Lanka Landbase India Limited Russell Credit Limited and its subsidiary Greenacre Holdings Limited Technico Pty Limited, Australia and its subsidiaries Technico Agri Sciences Limited Technico Technologies Inc., Canada Technico Asia Holdings Pty Limited, Australia and its subsidiary Technico Horticultural (Kunming) Co. Limited, China Wimco Limited and its subsidiaries Pavan Poplar Limited Prag Agro Farm Limited ITC Infotech India Limited and its subsidiaries ITC Infotech Limited, UK ITC Infotech (USA), Inc. and its subsidiary Pyxis Solutions, LLC, USA Wills Corporation Limited Gold Flake Corporation Limited ITC Investments and Holdings Limited Surya Nepal Private Limited King Maker Marketing, Inc., USA BFIL Finance Limited and its subsidiary MRR Trading and Investment Company Limited North East Nutrients Private Limited (w.e.f. 06.02.2014) The above list does not include ITC Global Holdings Pte. Limited, Singapore (in liquidation)
Other entities under control of the Company:	ITC Sangeet Research Academy ITC Education Trust ITC Rural Development Trust
Associates :	Gujarat Hotels Limited International Travel House Limited - being associates of the Company, Tobacco Manufacturers (India) Limited, UK - of which the Company is an associate.
Associates of the Company’s subsidiaries :	Russell Investments Limited Classic Infrastructure and Development Limited Divya Management Limited Antrang Finance Limited - being associates of Russell Credit Limited, and ATC Limited - being associate of Gold Flake Corporation Limited
Joint Ventures :	Maharaja Heritage Resorts Limited Espirit Hotels Private Limited Logix Developers Private Limited
Joint Venture of the Company’s subsidiary :	ITC Essentra Limited (formerly known as ITC Filtrona Limited) - being joint venture of Gold Flake Corporation Limited

CAPITAL STRUCTURE

After 31.03.2014

Authorised Capital : Rs. 10000.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 7986.775 Millions

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000000	Equity Shares	Re. 1/- each	Rs.10000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7953182950	Equity Shares	Re. 1/- each	Rs.7953.200 Millions

NOTES:

Reconciliation of number of Ordinary Shares outstanding

PARTICULAR	Reconciliation of number of Ordinary Shares outstanding	Amount in Millions
As at beginning of the year	7,90,18,33,110	7901.800
Add: Issue of Shares on exercise of Options	5,13,49,840	51.400
As at end of the year	7,95,31,82,950	7953.200

SHAREHOLDERS HOLDING MORE THAN 5% OF THE ORDINARY SHARES IN THE COMPANY

PARTICULAR	AS ON 31.03.2014
	NO. OF SHARES	%
Tobacco Manufacturers (India) Limited	1985564880	24.96
Life Insurance Corporation of India	1102829844	13.87
Specified Undertaking of the Unit Trust of India	896724540	11.28

ORDINARY SHARES ALLOTTED AS FULLY PAID UP BONUS SHARES FOR THE PERIOD OF FIVE YEARS IMMEDIATELY PRECEDING 31ST MARCH

PARTICULAR	AS ON 31.03.2014
	NO. OF SHARES
Bonus Shares issued in 2010-11	3826701530

RIGHTS, PREFERENCES AND RESTRICTIONS ATTACHED TO THE ORDINARY SHARES

The Ordinary Shares of the Company, having par value of Re. 1.00 per share, rank pari passu in all respects including voting rights and entitlement to dividend.

SHARES RESERVED FOR ISSUE UNDER OPTIONS

PARTICULAR	AS ON 31.03.2014
	NO. OF SHARES
Ordinary Shares of `Rs. 1.00 each	26,58,13,470

TERMS AND CONDITIONS OF OPTIONS GRANTED

Each Option entitles the holder thereof to apply for and be allotted ten Ordinary Shares of the Company of Rs. 1.00 each upon payment of the exercise price during the exercise period. The exercise period commences from the date of vesting of the Options and expires at the end of five years from (i) the date of grant in respect of Options granted under the ITC Employee Stock Option Scheme (introduced in 2001) and (ii) the date of vesting in respect of Options granted under the ITC Employee Stock Option Scheme -2006 and the ITC Employee Stock Option Scheme -2010.

THE VESTING PERIOD FOR CONVERSION OF OPTIONS IS AS FOLLOWS:

On completion of 12 months from the date of grant of the Options:	30% Vests
On completion of 24 months from the date of grant of the Options:	30% Vests
On completion of 36 months from the date of grant of the Options:	40% Vests
The Options have been granted at the ‘market price’ as defined from time to time under the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7953.200	7901.800	7818.400
(b) Reserves & Surplus	254667.000	214976.700	180100.500
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	262620.200	222878.500	187918.900
(3) Non-Current Liabilities
(a) long-term borrowings	510.000	664.000	773.200
(b) Deferred tax liabilities (Net)	12969.600	12037.200	8727.200
(c) Other long term liabilities	50.900	31.100	129.400
(d) long-term provisions	1100.000	1256.200	1071.200
Total Non-current Liabilities (3)	14630.500	13988.500	10701.000
(4) Current Liabilities
(a) Short term borrowings	1.400	0.000	17.700
(b) Trade payables	19875.900	16689.800	14492.200
(c) Other current liabilities	36318.800	35286.200	33712.700
(d) Short-term provisions	58847.100	51331.300	43039.500
Total Current Liabilities (4)	115043.200	103307.300	91262.100
TOTAL	392293.900	340174.300	289882.000
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	119486.900	111185.500	89836.600
(ii) Intangible Assets	640.500	907.900	1155.300
(iii) Capital work-in-progress	22729.400	14728.000	22692.600
(iv) Intangible assets under development	227.900	149.900	74.900
(b) Non-current Investments	25121.700	20008.600	19532.800
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	14800.200	17279.700	11959.300
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	183006.600	164259.600	145251.500
(2) Current assets
(a) Current investments	63112.600	50594.300	43633.100
(b) Inventories	73595.40	66002.000	56378.300
(c) Trade receivables	21653.600	11633.400	9823.700
(d) Cash and cash equivalents	32893.700	36150.000	28189.300
(e) Short-term loans and advances	7835.100	5121.400	5194.300
(f) Other current assets	10196.900	6413.600	1411.800
Total Current Assets	209287.300	175914.700	144630.500
TOTAL	392293.900	340174.300	289882.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	332386.000	299012.700	251474.600
		Other Income	11071.400	9387.000	8253.400
		TOTAL (A)	343457.400	308399.700	259728.000
Less	EXPENSES
		Cost of materials consumed	102632.8000	89362.100	76598.100
		Purchases of Stock-in-Trade	30214.700	33759.200	20372.100
		Employee benefits expense	16083.700	13870.100	12576.200
		Other expenses	60190.500	58209.700	54097.900
		Changes in inventories of finished goods, work-in-progress, Stock-in-Trade and Intermediates	(1284.100)	(2463.500)	(655.900)
		TOTAL (B)	207837.600	192737.600	162988.40
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		135619.800	115662.100	96739.600
Less	FINANCIAL EXPENSES (D)		29.500	864.700	779.200
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		135590.300	114797.400	95960.400
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8999.200	7955.600	6985.100
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		126591.100	106841.800	88975.300
Less	TAX (H)		38739.000	32657.900	27351.600
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		87852.1000	74183.900	61623.700
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		37881.000	19725.900	5486.700
Less	APPROPRIATIONS
		Transfer to General Reserve	8800.000	7500.000	6500.000
		Proposed Dividend For The Financial Year	47719.100	41484.600	35182.900
		Special Dividend	0.000	0.000	0.000
		Income Tax on Proposed Dividends Current Year	8109.900	7050.300	5707.500
		Income Tax on Proposed Dividends Earlier Year’s Provision	(286.800)	(6.100)	(5.900)
	BALANCE CARRIED TO THE B/S		61390.900	37881.000	19725.900
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods (F.O.B.)	37436.900	32053.200	20999.900
		Hotel Earnings	4964.100	5495.100	4867.200
		Freight and Insurance Recoveries	283.000	259.200	277.500
		Interest	32.500	143.000	0.000
		Dividend	130.500	55.700	0.000
		Other Earnings* [* Consist of finance and storage charges, Certified Emission Reduction (CER) credits and sundry recoveries.]	56.800	67.800	62.100
	TOTAL EARNINGS		42903.800	38074.000	26206.700
	IMPORTS
		Raw Materials	11022.500	11211.000	9251.600
		Components and Spare Parts (Including Stores)	823.500	817.000	877.100
		Capital Goods	7296.900	6206.200	7058.800
		Others	320.800	226.600	270.300
	TOTAL IMPORTS		19463.700	18460.800	17457.800
	Earnings / (Loss) Per Share (Rs.)
	- Basic		11.09	9.45	7.93
	- Diluted		10.96	9.33	7.84

QUARTERLY RESULTS

PARTICULARS	30.06.2014
	Unaudited
Net Sales	92482.900
Total Expenditure	59707.000
PBIDT (Excl OI)	32775.900
Other Income	2345.500
Operating Profit	35121.400
Interest	151.500
Exceptional Items	0.000
PBDT	34969.900
Depreciation	2313.200
Profit Before Tax	32656.700
Tax	10792.800
Provisions and contingencies	0.000
Profit After Tax	21863.900
Extraordinary Items	0.000
Prior Period Expenses	0.000
Other Adjustments	0.000
Net Profit	21863.900

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	26.43	24.81	24.50
Operating Profit Margin (PBDIT / Sales)	(%)	40.80	38.68	38.47
Return on Total Assets (PBT/Total Assets}	(%)	36.78	35.00	35.94
Return on Investment (ROI) (PBT/Networth)		0.48	0.48	0.47
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.82	1.70	1.58

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	7818.400	7901.800	7953.200
Reserves & Surplus	180100.500	214976.700	254667.000
Net worth	187918.900	222878.500	262620.200
long-term borrowings	773.200	664.000	510.000
Short term borrowings	17.700	0.000	1.400
Total borrowings	790.900	664.000	511.400
Debt/Equity ratio	0.004	0.003	0.002

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	251474.600	299012.700	332386.000
		18.904	11.161

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	251474.600	299012.700	332386.000
Profit After Tax	61623.700	74183.900	87852.100
	24.50%	24.81%	26.43%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

CALCUTTA HIGH COURT

CASE STATUS INFORMATION SYSTEMS

CASE STATUS: ----

STATUS OF: TEMP APO (APOT) 25 OF 2011

GODFREY PHILLIPS (INDIA) LIMITED VS. ITC LIMITED

PET’S ADV.: VIPUL KUNDALIA

RES’S ADV.: -----

COURT NO.: 0

LAST LISTED ON: NO DATE MENTIONED

CATEGORY: FINAL DECREE

CONNECTED APPLICATION (S)	CONNECTED MATTER (S)
NO CONNECTED APPLICATION	NO CONNECTED CASES

CASE UPDATED ON: MONDAY, JANUARY 17, 2011

UNSECURED LOAN

(Rs. In Million)

PARTICULARS

As on 31.03.2014

[Rs. in Millions]

As on 31.03.2013

[Rs. in Millions]

LONG TERM BORROWINGS

Term Loan From Banks

0.000

0.200

Deferred Payment Liabilities

Sales Tax Deferment Loans

510.000

663.800

TOTAL

510.000

664.000

Note:

Term loans from Banks

Repayable in equated periodic instalments upto a 5 year period from the date of respective loan. These are repayable by 2014-15 and carry an interest of 11.25% p.a.

Sales tax deferment loans

Repayable after a period of 10 to 14 years from the end of the month of respective loans. These are repayable by 2025-26 and are interest free.

The scheduled maturity of the Long-term borrowings are summarised as under:

	Term Loans	Deferred Payment Liabilities	Term Loans	Deferred Payment Liabilities
Borrowings repayable
In the first year	0.200	153.800	1.000	111.700
	0.200	153.800	1.000	111.700
Current maturities of long-term debt
In the second year	---	123.100	0.200	153.800
In the third to fifth year	---	275.600	---	330.000
After five years	---	111.300	---	180.000
Long-term borrowings	---	510.000	0.200	663.800

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90048469	18/06/2001 *	1,400,000,000.00	ITC LIMITED	VIRGINIA HOUSE, 37;CHOWRIGHEE, KOLKATA - 700071, WEST BENGAL, INDIA	-
2	90249950	16/12/1992	100,000,000.00	INDUSTRIAL FINANCE CORPORATION OF INDIA	BANK OF BARODA BUILDING, 16; SANSAD MARG, NEW DELHI - 110001, INDIA	-
3	90249944	14/10/1992	1,150,000,000.00	STATE BANK OF INDIA	CHOWRINGHEE BRANCH, 38; CHOWRINGHEE ROAD, KOLKATA- 700071 , WEST BENGAL, INDIA	-
4	90249931	14/05/1992	8,600,000.00	THE INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA LIMITED	163; BACKBAY RECLAMATION, BOMBAY - 400020, Maharashtra, INDIA	-
5	90251696	03/12/1998 *	7,000,000,000.00	STATE BANK OF INDIA	34; JAWAHARLAL NEHRU ROAD, KOLKATA - 700071, WEST BENGAL, INDIA	-
6	90249861	26/03/1990	11,500,000.00	INDUSTRIAL FINANCE CORPORATION OF INDIA	2; FAIRLIE PLACE, KOLKATA - 700001, WEST BENGAL, INDIA	-
7	90249828	16/04/1998 *	7,000,000,000.00	STATE BANK OF INDIA	38; CHOWRINGHEE, KOLKATA - 700071, WEST BENGAL, INDIA	-
8	90251676	15/07/2010 *	6,000,000,000.00	STATE BANK OF INDIA	RELIANCE HOUSE, 34 J. L. NEHRU ROAD, KOLKATA - 700071, WEST BENGAL, INDIA	A93676666
9	90249593	20/10/1981	1,750,000.00	TATA BURROUGHS LIMITED	MANISH COMMERCIAL CONTRE, 216;-A; DR. ANNIE DESAN T ROAD. WORLI, BOMBAY - 400025, MAHARASHTRA, INDIA	-
10	90250976	18/04/1980	2,700,000.00	STATE BANK OF INDIA	JEEVAN DEEP. 1-MIDDLETON STREET, KOLKATA - 700071, WEST BENGAL, INDIA	-

* Date of charge modification

MANAGEMENT DISCUSSION AND ANALYSIS:

SOCIO-ECONOMIC ENVIRONMENT:

The global economic scenario in 2013 remained challenging with output growth estimated at 3.0% - lower than the 3.2% growth recorded in 2012. Global economic activity picked up in the second half of the year, with much of the impetus coming from the Advanced Economies, raising hopes for an improved performance in 2014. The US economy grew by 1.9% in 2013, with the continued recovery of private domestic demand partly offset by the impact of heavy fiscal consolidation, which is estimated to have subtracted around 150 basis points from GDP growth. While the Euro Area contracted by 0.5% during 2013 as compared to 0.7% in the previous year, the region finally emerged from recession with output growth being positive from the middle of 2013 on the back of less fiscal drag and some buoyancy in private domestic demand. The Emerging Market and Developing Economies, as a group, saw a further slowdown in growth rates - from 5.0% in 2012 to 4.7% in 2013.

While Brazil grew by 2.3% in 2013 against 1.0% in 2012 driven by strong consumer spending and investments, growth in China remained flat at 7.7% and other major constituent economies like India, Russia and South Africa recorded deceleration. Global growth is expected to improve in 2014-15 following the late recovery observed in 2013. As per IMF estimates, world GDP growth is projected to strengthen from 3.0% in 2013 to 3.6% in 2014 and 3.9% in 2015, largely driven by the Advanced Economies, where growth is expected to increase from 1.3% in 2013 to 2.2% in 2014 and 2.3% in 2015. Within Advanced Economies, growth is likely to be strongest in the US at about 2.8% in 2014 driven by supportive monetary conditions and lower impact on account of fiscal consolidation. Euro Area growth is likely to be varied with the core Euro countries expected to register stronger growth. Emerging Markets & Developing Economies are likely to grow modestly - from 4.7% in 2013 to 4.9% in 2014 and 5.3% in 2015. GDP growth in China is projected to remain at around 7.5% in 2014 as the government seeks to rein in credit growth and push through reforms towards achieving a more balanced and sustainable growth trajectory. Despite the improved prospects as stated above, global economic recovery remains fragile with significant downside risks. New geopolitical risks emanating from the Ukrainian crisis, impact of a faster-than-anticipated withdrawal from monetary easing by the US and other developed countries on Emerging Markets & Developing Economies, continuing concerns of deflationary conditions and weak sovereign balance sheets in the Euro Area, and weakening growth in China are some of the key challenges facing global economic recovery.

Closer home, the Indian economy witnessed a rather challenging year with GDP growth slowing down to sub-5% for the second year in succession. The slowdown in the pace of growth is largely attributable to weakness in Industry which grew by only 0.7% during the year as per Advance Estimates released by the Ministry of Statistics and Programme Implementation. The Manufacturing sector, which accounts for 55% of Industry, de-grew by 0.2%. Growth in the Services sector stood at 6.9%, well below the trend growth levels. The only bright spot in an otherwise lacklustre economy was the Agriculture sector which grew by 4.6%, with record agricultural output.

Inflation remained high and sticky for most part of the year leading to the RBI hiking the Repo rate by 75 basis points since May ’13. While headline inflation has moderated in recent months, Core CPI inflation remains elevated at around 8% leaving little room for the RBI to ease policy rates to spur growth. Food inflation remains a key monitorable in the ensuing months given the likelihood of El Nino weather conditions and sub-par rainfall.

From a demand side perspective, growth in Private Final Consumption Expenditure (PFCE), the largest component of aggregate demand, slowed down further to only 2.5% during the first 9 months of 2013-14 as compared to 5.0% in 2012-13 and well below the 8.4% average growth recorded during the period 2007-08 to 2011-12. Deceleration in the growth of Investments continued unabated, plummeting to 0.2% in 2013-14. The key causes for this sharp downturn include the cumulative impact of persistently high and sticky inflation levels in the economy leading to a high interest rate regime, lack of political consensus on policy reforms and weak investor sentiment in the backdrop of a sluggish global economy.

There was good news on the ‘twin deficit’ front. As per Revised Budget Estimates, Fiscal Deficit for the year was contained within target at 4.6% of GDP. Such fiscal consolidation was, in large measure, driven by a significant compression in Government expenditure rather than buoyancy in revenue collection given the slowdown in economic activity. The quality of fiscal consolidation leaves room for improvement with further curtailment of non-essential subsidies and better targeting of major subsidies being the key imperatives. The Current Account Deficit recorded significant improvement during the year, narrowing to an estimated 2.0% of GDP as compared to 4.7% in the previous year. Regulatory curbs on gold imports, higher exports on the back of a weak Rupee and import compression aided such improvement. Measures announced by the Ministry of Finance and the RBI during the year to attract capital flows, particularly from non-resident Indians, helped shoring up foreign exchange reserves and arresting the sharp depreciation of the Rupee Vs. the US Dollar witnessed during the period May ’13 to August ’13, and restoring stability in the currency markets.

As per median estimates, based on the Survey of Professional Forecasters conducted by RBI, the Indian economy is likely to post a moderate recovery in 2014-15. GDP growth is estimated to improve to around 5.5% supported by an anticipated pick up in investment activity in view of the part resolution of stalled projects, improved business and consumer confidence and expectation of lower inflation. External demand is expected to improve further during 2014-15 stemming from encouraging growth prospects in Advanced Economies. Tighter global financial and monetary conditions, risks to agricultural growth due to the likelihood of sub-normal monsoons given the impending El Nino weather conditions, possibility of a reversal in capital flows with the interest rate cycle picking up in Advanced Economies represent some of the key downside risks going forward. A stable government at the Centre, greater clarity and certainty in policies and fast track clearances of large projects would go a long way in engendering a much needed boost to investor sentiment and reviving the private investment cycle in particular.

Private Consumption remains one of the major growth engines of the Indian economy. With a large and growing population, significant additions to the working age population over the medium to long-term, rising affluence and literacy, increasing urbanisation and higher outlays on social schemes to foster inclusive growth – the structural drivers for rapid growth in consumption are in place. Even so, the continued deceleration in Private Consumption in 2013-14 is a cause of concern. One of the key reasons for such deceleration is the elevated level of inflation in the economy especially for food items due to the inadequate supply side response by the agricultural sector in the face of growing demand for value-added items. The need of the hour is to boost agricultural productivity and value addition by encouraging investments and adoption of best practices in agricultural value chains while simultaneously improving market linkages. Equally, there is an need to focus on new job creation, which has averaged a dismal 2.3 million per annum during the 7 year period ended 2011-12 as compared to 12 million per annum during the 5 year period ended 2004-05, to address the unsustainable levels of unemployment especially amongst the youth. Stagnation in the manufacturing sector needs to be reversed at the earliest since robust industrial growth is essential for the creation of sustainable livelihoods and absorption of the increasing working age population of the country. Revival of industrial growth would be a critical boosting factor for domestic consumption as well.

While India remains one of the fastest growing major economies in the world, the slowdown in economic growth in the last 2 years is a cause of concern, being far below the desired levels and the country’s potential. Given the low levels of per capita income and the fact that a significant proportion of our population lives in poverty, it is imperative that the economy reverts to its 8% to 9% growth trajectory sooner than later.

For a country like India which has a disproportionately low share of global natural resources relative to its large population, where millions continue to live in abject poverty, and a young demographic profile which entails 12 million people entering the job market every year, the focus both at the national and corporate level should be on fashioning strategies that foster sustainable, equitable and inclusive growth. Policies and regulations must be aligned towards encouraging businesses to adopt a low-carbon growth path and support the creation of sustainable livelihoods and societal capital. Differentiated and preferential incentives, in the form of fiscal or financial benefits to companies that adopt sustainable business practices would act as a force multiplier towards achieving this critical national goal. It is your Company’s belief that businesses can bring about transformational change by pursuing innovative business models that synergise the creation of sustainable livelihoods and the preservation of natural capital with enhancing shareholder value.

This ‘Triple Bottom Line’ approach to creating larger ‘stakeholder value’, as opposed to merely ensuring uni-dimensional ‘shareholder value’, is the driving force that defines the Company’s sustainability vision and its growth path into the future.

The Company is a global exemplar in ‘Triple Bottom Line’ performance and is the only enterprise in the world of comparable dimensions to have achieved and sustained the three key global indices of environmental sustainability of being ‘water positive’ (for 12 years), ‘carbon positive’ (for 9 years), and ‘solid waste recycling positive’ (for 7 years).

The following sections outline the Company’s progress in pursuit of the ‘Triple Bottom Line’.

FINANCIAL PERFORMANCE

The Company continued to deliver strong financial performance with healthy growth in revenues and high quality earnings. This performance is particularly commendable when viewed against the backdrop of the extremely challenging business context in which it was achieved, namely, a sluggish macro-economic environment which saw GDP growth remaining below 5% for the second year in succession, high inflation and a marked deceleration in the rate of growth of Private Final Consumption Expenditure; steep increase in taxes/duties on Cigarettes for two years in a row; weak demand conditions in the FMCG industry; gestation costs relating to the new FMCG businesses; sharp escalation in input costs in the Paperboards, Paper and Packaging Businesses and a weak demand and pricing environment in the Hotels business.

Gross Revenue for the year grew by 11.7% to Rs. 467126.200 Millions. Net Revenue at Rs.328825.600 Millions grew by 11.1% primarily driven by a 16.0% growth in the non-cigarette FMCG segment, 14.7% growth in Paperboards, Paper and Packaging segment and 10.6% growth in the Cigarettes segment. Profit Before Tax registered a growth of 18.5% to Rs.126591.100 Millions while Net Profit at Rs. 87852.100 Millions increased by 18.4%. Earnings Per Share for the year stood at Rs. 11.09 (previous year Rs. 9.45). Cash flows from Operations aggregated Rs.107595.000 Millions compared to Rs.95962.400 Millions in the previous year.

The Company is one of India’s most admired and valuable corporations with a current market capitalization of over Rs.2700000.000 Millions and has consistently featured amongst the top 10 private sector companies in terms of market capitalisation and profits. Over the last 18 years, the Company’s Net Revenue and Profit After Tax recorded an impressive compound annual growth rate of 15.3% and 21.6% respectively. During this period, Return on Capital Employed improved substantially from 28.4% to 45.8% while Total Shareholder Returns, measured in terms of increase in market capitalization and dividends, grew at a compound annual rate of 25.9%, placing the Company amongst the foremost in the country in terms of efficiency of servicing financial capital.

The Directors are pleased to recommend a Dividend of Rs.6.00 per share (previous year Rs.5.25 per share) for

the year ended 31st March, 2014. Total cash outflow in this regard will be Rs. 55829.000 Millions (previous year Rs.48534.900 Millions) including Dividend Distribution Tax of Rs.8109.900 Millions (previous year Rs.7050.300 Millions).

The Board further recommends a transfer to General Reserve of Rs.8800.000 Millions (previous year Rs.7500.000 Millions). Consequently, the Surplus in Statement of Profit and Loss as at 31st March, 2014 would stand at Rs. 61390.900 Millions (previous year Rs. 37881.000 Millions).

STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2014

(Rs. Millions)

Particulars		Quarter Ended	Quarter Ended	Half Year Ended
		30.09.2014	30.06.2014	30.09.2014
		(Unaudited)	(Unaudited)	(Unaudited)
A) Net Sales /Income From Operations (Net Of Excise Duty)	(1)	89303.200	91644.200	180947.400
B) Other Operating Income	(2)	934.200	838.700	1772.900
Total Income From Operations (Net) (1+2)	(3)	90237.400	92482.900	182720.300
Expenses
A) Cost Of Materials Consumed		27927.200	26606.200	54533.400
B) Purchases Of Stock-In –Trade		6389.900	19208.000	25597.900
C) Changes In Inventories Of Finished Goods, Work-In-Progress and Stock-In-Trade		1234.500	(6038.600)	(4804.100)
D) Employee Benefits Expense		3978.700	5086.600	9065.300
E) Depreciation and Amortisation Expense		2432.200	2313.200	4745.400
F) Other Expenses		15820.600	14844.800	30665.400
Total Expenses	(4)	57783.100	62020.200	119803.300
Profit From Operations Before Other Income And Finance Costs (3-4)	(5)	32454.300	30462.700	62917.000
Other Income	(6)	3562.200	2345.500	5907.700
Profit From Ordinary Activities Before Finance Costs (5+6)	(7)	36016.500	32808.200	68824.700
Finance Costs	(8)	183.900	151.500	335.400
Profit From Ordinary Activities Before Tax  (7-8)	(9)	35832.600	32656.700	68489.300
Tax Expense	(10)	11581.000	10792.800	22373.800
Net Profit For The Period (9-10)	(11)	24251.600	21863.900	46115.500
Paid Up Equity Share Capital	(12)	7974.300	7955.000	7974.300
(Ordinary Shares Of Re. 1/- Each)
Reserves Excluding Revaluation Reserves	(13)	-	-	-
Earnings Per Share (of Re. 1/- Each) (Not Annualised):	(14)
(A) Basic (Rs.)		3.04	2.75	5.79
(B) Diluted (Rs.)		3.01	2.72	5.73

SELECT INFORMATION FOR QUARTER AND SIX MONTHS ENDED 30^TH SEPTEMBER, 2014

Particulars	Quarter Ended	Quarter Ended	Half Year Ended
	30.09.2014	30.06.2014	30.09.2014
	(Unaudited)	(Unaudited)	(Unaudited)
A. Particulars Of Shareholding
1. Public Shareholding
- Number Of Shares	7954036697	7934240720	7954036697
- Percentage Of Shareholding	99.75	99.74	99.75
2. Promoters And Promoter Group Shareholding
A) Pledged / Encumbered	NA	NA	NA
B) Non - Encumbered	NA	NA	NA

B. Investor Complaints	3 months ended 30.09.2014
Pending at the beginning of the quarter	Nil
Received during the quarter	2
Disposed off during the quarter	2l
Remaining unresolved at the end of the quarter	Nil

STATEMENT OF ASSETS AND LIABILITIES

SOURCES OF FUNDS	As on 30.09.2014 (Unaudited)
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7974.300
(b) Reserves & Surplus	302955.800
	310930.100
(2) Minority Interest	--
(3) Non-Current Liabilities
(a) long-term borrowings	500.200
(b) Deferred tax liabilities (Net)	13962.000
(c) Other long term liabilities	68.400
(d) long-term provisions	1102.000
	15632.600
(4) Current Liabilities
(a) Short term borrowings	5663.600
(b) Trade payables	17634.800
(c) Other current liabilities	44583.300
(d) Short-term provisions	7139.800
	75021.500
TOTAL	401584.200
II. ASSETS
(1) Non-current assets
(a) Fixed Assets	149903.600
(b)Goodwill on Consolidation	0.000
(c) Non-current Investments	23771.500
(d) Deferred tax assets (net)	0.000
(e) Long-term Loan and Advances	13530.800
(f) Other Non-current assets	0.000
	187205.900
(2) Current assets
(a) Current investments	66036.500
(b) Inventories	84634.300
(c) Trade receivables	20008.200
(d) Cash and cash equivalents	35931.100
(e) Short-term loans and advances	5233.200
(f) Other current assets	2535.000
	214378.300
TOTAL	401584.200

UNAUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND SIX MONTHS ENDED 30^TH SEPTEMBER, 2014

(Rs. In Millions)

Particulars	Quarter Ended ( Unaudited)		6 Months Ended ( Unaudited)
a. Information about Primary Business Segments
1. Segment Revenue
a. FMCG – Cigarettes	42508.600	42010.600	84519.200
- Others	21960.100	19346.100	41306.200
Total FMCG	64468.700	61356.700	125825.400
Hotels	2615.900	2486.900	5102.800
Agri Business	20586.700	32960.600	53547.300
Paperboards, Paper and Packaging	12840.700	12884.800	25725.500
TOTAL	100512.000	109689.000	210201.000
Less : Inter Segment Revenue	11208.800	18044.800	29253.600
Net Sales/ Income from operations	89303.200	91644.200	180947.400
2. Segment Result
a. FMCG – Cigarettes	28820.600	27217.500	56038.100
Liability no longer required written back	-	-	-
FMCG – Cigarettes	28820.600	27217.500	56038.100
-others	(103.100)	(155.900)	(259.000)
Total FMCG	28717.500	27061.600	55779.100
Hotels	(95.800)	(120.900)	(216.700)
Agri Business	2982.500	2024.500	5007.000
Paperboards, Paper and Packaging	2421.400	2749.000	5170.400
Total	34025.600	31714.200	65739.800
Less : 1. Finance Cost	183.900	151.500	335.400
Liability no longer required written back	--	-	-
Finance Cost	183.900	151.500	335.400
2. Other un-allocable (Income) net of un-allocable expenditure	(1990.900)	(1094.00)	(3084.900)
Profit Before Tax	35832.600	32656.700	68489.300
Tax Expenses	1151.000	10792.800	22373.800
Profit After Tax	24251.600	21863.900	46115.500
3. Capital Employed (Segment Assets-Segment Liabilities)
a. FMCG – Cigarettes	56618.000	50874.600	56618.000
-Others	39632.800	39417.400	39632.800
Total FMCG	96250.800	90292.000	96250.800
Hotels	37058.400	36484.600	37058.400
Agri Business	15777.300	22990.300	16777.300
Paperboards, Paper and Packaging	55225.500	54540.900	55225.500
Total	205312.00	175285.300	205312.000

FIXED ASSETS

• Freehold Land
• Freehold Building
• Railway Sidings
• Plant and Machinery
• Computer, servers and other I.T Equipments
• Furniture and Fittings
• Motor Vehicles
• Leasehold properties

PRESS RELEASE

ITC TO INVEST RS 10000.000 MILLIONS INTO DAIRY, JUICE BUSINESS

KOLKATA: ITC Ltd will invest Rs 1,0000.000 Millions for its ambitious foray into dairy and juice businesses which it plans to roll out in the January-March quarter, two people aware of the development said.

The Kolkata-based cigarette-to-FMCG-hospitality conglomerate will make the proposed investment in the short term on manufacturing capacity, marketing, brand building and distribution expenses, two senior industry executives told ET.

ITC has already undertaken over Rs 250-crore investments on these two businesses. Early this year ITC acquired Bengaluru-based B Natural juice brand for about Rs 50-60 crore, which is now being modernised both in terms of formulation and packaging.

ITC's expansion into dairy is done organically and involves setting up processing plants in Munger ( Bihar), Punjab, Uttar Pradesh, Maharashtra, Telangana and Andhra Pradesh. Trial production in Munger will start this month, the executives quoted above said.

The company wants to have a local production footprint to overcome distribution hassles of dairy products and also to suit the palette of consumers in each region since milk quality differs.

When contacted, ITC Ltd divisional chief executive (foods) Chitranjan Dar refused to confirm investment figure and expansion plans, citing confidentiality reason.

Dar, however, said ITC will soon roll out juices across the country, whereas the entry into dairy business will be late next quarter. "We plan to regionalise both juices and dairy products since the taste would vary," he said.

He said ITC will roll out both 100% juices and nectars with 7-8 variants, while in dairy it is yet to decide the full portfolio.

"In dairy, there will be both B2B and B2C products such as milk powder and ghee to start with. However, our aim is to launch a wide variety of dairy products which we will evolve in phases," Dar said.

Industry executives quoted above said since ITC looks to launch innovative products in both segments as it eyes market leadership.

For instance, in juices, it is experimenting with traditional flavours and variants which are still not in the market. In dairy it will roll out value-added products, including chocolates. While Amul will be the biggest competitors in dairy business, ITC will fight Dabur's Real and PepsiCo's Tropicana brands in the Rs 2,000 crore packaged juice market.

When asked about competition, Dar said ITC will aim for product superiority, use the group's synergies in back-end agri and dairy sourcing, and use its wide panel of chefs in the hotel business to finetune its offering. "For instance, we have done a lot of juice trails in our hotels with chefs, right from getting the right taste to the juice thickness," he said.

ITC is expanding its agri-commodity sourcing to grow fruits and pulps for its juices business, while for the dairy business it has set up 261 cattle development centres across seven states and its milk procurement network in Munger includes 194 milk producer groups with average daily procurement of 13,729 litres per day.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.63
UK Pound	1	Rs.98.97
Euro	1	Rs.77.74

INFORMATION DETAILS

Information Gathered by :	GYA
Analysis Done by :	SUB
Report Prepared by :	ASH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILITY	1~10	9
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		81

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.