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ITC Ltd gross sales up 13.5 per cent at Rs.26,259.6 crore

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Notwithstanding the extremely challenging economic environment, especially in the first half of the year, ITC Limited has registered a 13.5 per cent increase in gross turnover – at Rs.26,259.60 crore – for the fiscal ended March 31, 2010. Net turnover at Rs.18,153.19 crore grew by 16.3 per cent, primarily driven by a 20.9 per cent growth in the non-cigarette FMCG businesses, a 19.8 per cent growth in the cigarettes business and a 17.4 per cent growth in the paperboards, paper and packaging segment.

Pre-tax profits increased by 24.7 per cent to Rs.6,015.31 crore while post-tax profits at Rs.4,061 crore registered a growth of 24.4 per cent. Cash flows from operations stood at Rs.6,620 crore during the year, compared to Rs 4,706 crore in the previous year.

For Q4, net turnover at Rs.5,053.79 crore registered a growth of 27.9 per cent driven by robust performance in cigarettes, other FMCG businesses and the agri-business segment. Pre-tax profits at Rs.1,504.79 crore and post-tax profits at Rs.1,028.22 crore grew at an impressive rate of 26.3 per cent and 27.1 per cent respectively over the corresponding quarter last year.

To celebrate the centenary of its existence – in August 2010 – the board of directors recommended a special dividend of Rs.5.5 per share in addition to the dividend of Rs.4.5 per share (previous year: Rs.3.7) for the year ended March 31, 2010. Total cash outflow in this regard will be Rs.4,452.33 crore (against Rs.1,633.87 crore in the previous year) including dividend distribution tax of Rs.634 crore, making it one of the highest-ever dividend payouts by an Indian company in the private sector.

ITC was voted ‘Product of the Year’ in the soaps category based on a survey of over 30,000 Indian consumers by AC Nielsen.

— IndiaRetailing Bureau

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