ITC -LIMITED

1910 - 24th August the Company was incorporated as a Private Limited

Company under the name, Imperial Tobacco Co. of India Ltd. The Company

manufacture and distribute cigarettes and smoking tobaccos and speciality papers

including cigarette tissue papers (Sole manufacturer in the country). Other

activities include tobacco leaf processing, printing and packaging, hotels, food and

exports. 1954 - The Company was converted into a Public Limited Company on

27th October. 1970 - The name of the Company was changed from the Imperial

Tobacco Co. of India Ltd., to India Tobacco Co. Ltd., in May. 5,00,000 Right

shares issued to Indian shareholders (prem. Rs 3 per shares). 32,90,000 No. of

Equity Shares offered to the public (prem. Rs. 3 per share). 1972, On October

Company entered into hotel business.

ITC's Agri-Business is India's second largest exporter of agricultural products. ITC

is one of the India's biggest foreign exchange earners (US $ 2 billion in the last

decade). The Company's 'e-Choupal' initiative is enabling Indian agriculture

significantly enhance its competitiveness by empowering Indian farmers through

the power of the Internet. This transformational strategy, which has already

become the subject matter of a case study at Harvard Business School, is expected
to progressively create for ITC a huge rural distribution infrastructure, significantly

enhancing the Company's marketing reach. The company places computers with

Internet access in rural farming villages; the e-Choupals serve as both a social

gathering place for exchange of information (choupal means gathering place in

Hindi) and an e-commerce hub. What began as an effort to re-engineer the

procurement process for soy, tobacco, wheat, shrimp, and other cropping systems

in rural India has also created a highly profitable distribution and product design

channel for the company—an e-commerce platform that is also a low-cost

fulfillment system focused on the needs of rural India. The e-Choupal system has

also catalyzed rural transformation that is helping to alleviate rural isolation, create

more transparency for farmers, and improve their productivity and incomes.
Balance Sheet as at 31st March, 2009
Schedule 31st March, 2009 31st March, 2008

(Rs. in Crores) (Rs. in Crores)

I. Sources of Funds
1. Shareholders’ Funds
a) Capital 1 377.44 376.86
b) Reserves & Surplus 2 13357.64 13735.08 11680.81 12057.67
2. Loan Funds
a) Secured Loans 3 11.63 5.57
b) Unsecured Loans 4 165.92 177.55 208.86 214.43
3. Deferred Tax - Net 5 867.19 545.07
Total 14779.82 12817.17
II. Application of Funds
1. Fixed Assets 6
a) Gross Block 10558.65 8959.70
b) Less: Depreciation 3286.74 2790.87
c) Net Block 7271.91 6168.83
d) Capital Work-in-Progress 1214.06 8485.97 1126.82 7295.65
2. Investments 7 2837.75 2934.55
3. Current Assets, Loans and Advances
a) Inventories 8 4599.72 4050.52
b) Sundry Debtors 9 668.67 736.93
c) Cash and Bank Balances 10 1032.39 570.25
d) Other Current Assets 11 215.35 146.07
e) Loans and Advances 12 1644.98 1515.50 8161.11 7019.27
Less :
4. Current Liabilities and Provisions
a) Liabilities 13 2964.52 2786.97
b) Provisions 14 1740.49 1645.33 4705.01 4432.30
Net Current Assets 3456.10 2586.97
Total 14779.82 12817.17

Gross Turnover for the year grew by 10.7% to Rs.21355.94 crores. Net

Turnover at Rs.13947.53 crores grew by 14.7% driven by a robust 48.6% growth

in the non-cigarette FMCG businesses, and a healthy performance by the Hotels

 and Paperboards, Paper & Packaging segments. The non-cigarette portfolio now

accounts for 52.4% of the Company’s Net Turnover. Pre-tax profits increased by

16.4% to Rs.4571.77 crores, while Post-tax profit at Rs.3120.10 crores registered a

growth of 15.6%. Earnings Per Share for the year stands at Rs.8.29. Cash flows

from Operations stood at Rs.4136 crores during the year.

In order to strike a balance between the need to sustain strategic investments for

a secure future and the annual expectation of shareholders for growing income,

your Directors are pleased to recommend a dividend of Rs.3.50 per share

(previous year: Rs.3.10 per share) for the year ended 31st March, 2008. The cash

outflow in this regard will be Rs.1543.18 crores (previous year Rs.1364.50 crores)

including Dividend Distribution Tax of Rs.224.17 crores (previous year Rs.198.21

crores). Your Board further recommends a transfer to General Reserve of Rs.1500

crores (previous year Rs.1250 crores). Consequently, Board recommends leaving

an unappropriated balance in the Profit and Loss Account of Rs.724.45 crores

(previous year Rs.647.53 crores).

Stand alone b-sheet

Balance Sheet ------------------- in
Rs. Cr.
of ITC -------------------
  Mar '04 Mar '05 Mar '06 Mar '07 Mar '08
 

  12 mths 12 mths 12 mths 12 mths

 
Sources Of Funds      
Total Share Capital 247.68 248.22 375.52 376.22 386
Equity Share Capital 247.68 248.22 375.52 376.22 376.86
Share Application Money 0 1.21 0 0 0
Preference Share Capital 0 0 0 0 0
Reserves 6,101.54 7,586.28 8,626.79 10,003.78 11,624.69
Revaluation Reserves 60.84 59.9 59.17 57.08 56.12
Networth 6,410.06 7,895.61 9,061.48 10,437.08 12,057.67
Secured Loans 31.56 88.69 25.91 60.78 5.57
Unsecured Loans 89.29 156.67 93.82 140.1 208.86
Total Debt 120.85 245.36 119.73 200.88 214.43
Total Liabilities 6,530.91 8,140.97 9,181.21 10,637.96 12,272.10

  Mar '04 Mar '05 Mar '06 Mar '07 Mar '08
 

  12 mths 12 mths 12 mths 12mths 12 mths

 

Application Of Funds      
Gross Block 4,740.94 5,746.27 6,227.17 7,134.31 8,959.70

Less: Accum. Depreciation 1,442.63 1,795.51 2,065.44 2,389.54 2,790.87

Net Block 3,298.31 3,950.76 4,161.73 4,744.77 6,168.83
Capital Work in Progress 313.74 186.15 399.97 1,130.20 1,126.82
Investments 3,053.96 3,874.68 3,517.01 3,067.77 2,934.55
Inventories 1,534.21 2,002.99 2,636.29 3,354.03 4,050.52
Sundry Debtors 230.15 527.76 547.96 636.69 736.93
Cash and Bank Balance 34.04 52.45 67.47 103.54 153.34
Total Current Assets 1,798.40 2,583.20 3,251.72 4,094.26 4,940.79
Loans and Advances 2,213.39 1,150.25 1,188.42 1,390. 1,949.29
Fixed Deposits 0 3.21 788.35 796.62 416.91
Total CA, Loans &
Advances 4,011.79 3,736.66 5,228.49 6,281.07 7,306.99
Deffered Credit 0 0 0 0 0
Current Liabilities 3,464.01 2,499.10 2,736.95 3,113.01 3,619.76
Provisions 682.88 1,108.18 1,389.04 1,472.84 1,645.33
Total CL & Provisions 4,146.89 3,607.28 4,125.99 4,585.85 5,265.09
Net Current Assets -135.1 129.38 1,102.50 1,695.22 2,041.90
Miscellaneous Expenses 0 0 0 0 0
Total Assets 6,530.91 8,140.97 9,181.21 10,637.96 12,272.10

 
Contingent Liabilities 171.07 92.97 98.72 129.56 308.08
Book Value (Rs) 256.35 315.63 23.97 27.59 31.85

24

THANK YOU

CONSOLITED B-SHEET & STAND

ALONE B –SHEET
 COMPANY NAME-ITC LIMITED

SUMITTED TO: PROF. MONICA

SUMITTED BY: RAVINDRA KUMAR JHA (37)

SUBRAT KUMAR BHUYAN (46)

SEC-F9