ITCProfit & Loss AccountMar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21INCOMESales Turnover19,519.9921,467.3823,247.8426,399.6330,633.57Excise Duty7,206.167,435.188,262.037,832.189,512.74NET SALES12,313.8314,032.2014,985.8118,567.4521,120.83Other IncomeTOTAL INCOME12,613.9714,512.0215,408.6119,063.7221,768.74EXPENDITURE:Manufacturing Expenses318.32383.42797.00801.13982.25Material Consumed5,484.526,275.336,234.667,588.238,292.71Personal Expenses630.15745.00903.371,014.871,178.46Selling Expenses803.291,044.401,067.831,238.241,437.91Administrative Expenses1,116.231,266.571,133.481,864.542,091.01Expenses Capitalised-42.52-112.75-72.55-71.88-60.54-60.54-60.54-60.54-60.54-60.54-60.54-60.54-60.54-60.54-60.54TOTAL EXPENDITUREOperating ProfitEBITDA4,303.984,910.055,344.826,628.597,846.94Depreciation362.92438.46549.41608.71655.99763.40EBIT3,941.064,471.594,795.416,019.887,190.95Interest16.0424.6147.6590.2878.1186.50EBT3,925.024,446.984,747.765,929.607,112.84Taxes1,263.071,480.971,565.131,965.432,287.69Profit and Loss for the Year2,661.952,966.013,182.633,964.174,825.15Non Recurring Items-23.9236.683.4148.78127.85Other Non Cash Adjustments61.94117.4181.5248.6535.210.000.000.000.000.000.000.000.000.000.00Other Adjustments0.000.00-3.97-0.60-0.600.000.000.000.000.000.000.000.000.000.00REPORTED PAT2,699.973,120.103,263.594,061.004,987.61Preference Dividend0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00Equity Dividend1,166.291,319.011,396.533,818.183,443.47Equity Dividend (%)310.00350.00370.00999.99445.00Shares in Issue376.22376.86377.44381.82773.81773.81773.81773.81773.81773.81773.81773.81773.81773.81773.81EPS - (Rs)7.188.288.6510.646.45GROWTH15.64DIVIDEND PER SHAREBalance shettLiabilitiesMar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Share Capital376.22376.86377.44381.82773.81Reserves & Surplus10,003.7811,624.6913,302.5513,628.1715,126.12Net WorthSecured Loans60.785.5711.630.001.942.271.892.181.932.443.233.713.153.293.63Unsecured Loans140.10208.86165.92107.7197.26TOTAL LIABILITIESAssetsGross Block7,134.318,959.7010,558.6511,967.8612,765.82(-) Acc. Depreciation2,389.542,790.873,286.743,825.464,420.75Net Block (A)4,687.696,112.717,216.828,088.018,291.73Capital Work in Progress.(B)1,130.201,126.821,214.061,008.991,333.401,455.001,650.00Investments.(C)3,067.772,934.552,837.755,726.875,554.66Current AssetsInventories3,354.034,050.524,599.724,549.075,267.53Sundry Debtors636.69736.93668.67858.80907.62Cash And Bank900.16570.251,032.391,126.282,243.24Loans And Advances1,390.191,949.292,150.211,929.162,173.89Total Current Assets6,281.077,306.998,450.998,463.31Current Liabilities3,113.013,619.764,121.594,619.545,668.10Provisions1,472.841,645.331,740.494,549.944,104.84Total Current Liabilities4,585.855,265.095,862.089,169.489,772.94NET CURRENT ASSETS (D)1,695.222,041.902,588.91-706.17819.34TOTAL ASSETS (A+B+C+D)Capital StructurePeriodInstrumentAuthorized CapitalIssued Capital- P A I D U P -FromTo(Rs. cr)(Rs. cr)Shares (nos)Face ValueCapital (Rs. Cr)2,010.002,011.00Equity Share1,000.00773.80773.811.00773.802,009.002,010.00Equity Share500.00381.80381.821.00381.802,008.002,009.00Equity Share500.00377.40377.441.00377.402,007.002,008.00Equity Share500.00376.90376.861.00376.901 ) GROSS PROFIT =GROSS PROFIT/NET SALES*1002) NET PROFIT= NET PROFIT/NET SALES*1003) CURRENT RATIO=CURRENT ASSETS/CURRENT LIABILITIES4) QUICK RATIO=QUICK ASSETS/QUICK LIABILITIES5) DEBT EQUITY RATIO=DEBT/EQUITY6) INTEREST COVERAGE RATIO =PBIT/INTEREST7) INVENTORY TURNOVER =NET SALES/INVENTORY8) DEBTORS TURNOVER =NET CREDIT SALES/DEBTORS9) FIXED ASSETS TURNOVER = NET SALES/ NET FIXED ASSETS10) TOTAL ASSETS TURNOVER =NET SALES/ TOTAL ASSETS11) RETURN ON CAPITAL EMPLOYED =NET PROFIT/TOTAL ASSETS12) RETURN ON CAPITAL EMPLOYED =PBIT/TOTAL ASSETS13) RETURN ON CAPITAL EMPLOYED =PBIT(1-T)/TOTAL ASSETS14) RETURN ON EQUITY =EQUITY EARNINGS/NET WORTH0.50FREE CASH FLOW= EBT+DEPRECIATION+CHANGES IN WORKING CAPITALArithmetiC AVERAGEARITHMETIC AVERAGE =TOTAL CHANGES IN EBIT / NWEIGHTED AVERAGE COST OF CAPITALMARKET PRICE201.95201.95201.95201.95201.95201.95201.95201.95201.95201.95201.95201.95201.95201.95201.95SOURCES OF FUNDAMOUNTPROPORTIONCOSTWACCSOURCES OF FUNDAMOUNTPROPORTIONCOSTWACCSHARE CAPITALSHARE CAPITALSECURED LOANSECURED LOANKe=(D1/Po) + GKe=(D1/Po) + GKdKdTOTAL SOURCES OF FUNWACCSHARE CAPITALSECURED LOANINTERESTKeWACCRETENTATION RATIO=1-DPS/EPSEXPECTED GROWTH RATE= RETENTION RATIO *ROEgEPS = b *ROEt+1 + (ROEt+1 ROEt)/ ROEtb0.700.700.700.700.700.700.700.700.700.700.700.700.700.700.70Stable Growth Payout Ratio = 1 - g/ ROEg = b (ROE)gSTABLE GROWTH PAYOUT RATIOROE = ROC + D/E (ROC - i (1-t))RETURN ON CAPITAL EMPLOYEDDEBT/EQUITYAFTER COST OF DEBT= I(1-T)TAX RATE0.320.320.320.320.320.320.320.320.320.320.320.320.320.320.32RETURN ON CAPITAL EMPLOYEDREINVESTMENT RATE=GROWTH IN OPERATING INCOME/ ROCGROWTH OPERATING INCOME=(CURRENT YEAR -BASE YEAR)/BASE YEAR *100CAPME(R)=Rf+(Rm-Rf)Rf9.009.009.009.009.009.009.009.009.009.009.009.009.009.009.00Rm7.507.507.507.507.507.507.507.507.507.507.507.507.507.507.50E

Sheet3Capital Structure - ITC Ltd.PeriodInstrumentAuthorized CapitalIssued Capital- P A I D U P -FromTo(Rs. cr)(Rs. cr)Shares (nos)Face ValueCapital (Rs. Cr)20102011Equity Share1000773.877381442801773.820092010Equity Share500381.838181767901381.820082009Equity Share500377.437743995601377.420072008Equity Share500376.937686100501376.9

Sheet4