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5008750320.Pdf 4th August, 2020 The Manager The General Manager The Secretary Listing Department Dept. of Corporate Services The Calcutta Stock National Stock Exchange of BSE Ltd. Exchange Ltd. India Ltd. P. J. Towers 7, Lyons Range Exchange Plaza Dalal Street Kolkata 700 001 Plot No. C-1, G Block Mumbai 400 001 Bandra-Kurla Complex Bandra (East) Mumbai 400 051 Dear Sirs, Report and Accounts for the financial year ended 31st March, 2020 We enclose, in terms of Regulations 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, a copy of the Report and Accounts of the Company for the financial year ended 31st March, 2020 together with the Notice dated 26th June, 2020 convening the 109th Annual General Meeting (AGM) of the Company on 4th September, 2020. The aforesaid Report and Accounts and AGM Notice are also being uploaded on the Company’s corporate website www.itcportal.com. Yours faithfully, ITC Limited (R. K. Singhi) Executive Vice President & Company Secretary Encl. as above. Enduring Value cc: Securities Exchange Commission Division of Corporate Finance Office of International Corporate Finance Mail Stop 3-9 450 Fifth Street Washington DC 20549 U.S.A. cc: Societe de la Bourse de Luxembourg 35A Boulevard Joseph II L-1840 Luxembourg NATION FIRST: SAB SAATH BADHEIN REPORT AND ACCOUNTS 2020 Awards & Accolades REPORT AND ACCOUNTS 2020 REPORT AND ACCOUNTS 2020 Contents are hyper-linked to the relevant pages of the report Contents Click 'ITC Limited' on the Header/Footer of each page to return to Contents ITC: Reimagining the Future, Putting Nation First Major Awards 2019-2020 Board of Directors and Committees 01 Mr Sanjiv Puri, Chairman & Managing Director, was ranked ITC Green Centre, Guntur received the ‘Platinum rating Report on Corporate Governance one of the Most Valuable CEOs of India by certification’ from the LEED Green Building rating system in 10 (including Shareholder Information) BW Businessworld. the new construction and major renovation category. Mr Nakul Anand, Executive Director, won `The Corporate ITC Munger Unit won the ‘IGBC Performance Challenge Report of the Board of Directors & Hotelier of the World’ Award 2019 from HOTELS, USA. 36 2019 for Green Built Environment-Excellence Award’ at the Management Discussion and Analysis ITC has been globally ranked no.1 amongst peers and no.3 Green Building Congress 2019. overall by ‘Sustainalytics’, a global Environmental, Social and First Prize in 5 categories at the Public Relations Society of Secretarial Auditor’s Report 114 Governance (ESG) rating company, for ESG performance in India (PRSI) National Awards 2019 the ‘Food Products Industry’. CEO and CFO Compliance Certificate 137 ITC won the ‘Best Corporate Initiative in Sanitation Award’ ITC Medak Unit received the ‘IGBC Green Factory Building – PLATINUM’ Certification 2019 in new factories category from Standalone Financial Statements at the India Sanitation Coalition – FICCI Sanitation Awards 2019 the Indian Green Building Council. Balance Sheet 138 ITC received 2 Effie Awards in the ‘Integrated Marketing ITC Kovai Unit received the Platinum-level certification, Campaign’ and ‘Foods’ Categories (Silver Awards – highest the highest recognition for water stewardship in the world, Statement of Profit and Loss 139 honours) for Aashirvaad Atta’s ‘Tarun’s Tiffin’ advertisement based on international benchmarks, from the Alliance for campaign. Water Stewardship, Scotland. Statement of changes in equity 140 Savlon Healthy Hands Chalk Sticks campaign listed among ITC was conferred the ‘PrintWeek Printing Company of Cash Flow Statement 142 `Iconic Work’ of the decade in Cannes Lions Creativity the Year’ Award, ‘Green Company of the Year’ Award in Report. performance category, and ‘Prism in Packaging Converter Notes to the Financial Statements 144 ITC Hotels was awarded the Best Luxury Hotel Chain, of the Year (Flexible)’ Award in quality category, by ITC Royal Bengal, Kolkata - Best New Hotel (Domestic), Printweek India. Independent Auditor’s Report 211 ITC Grand Goa Resort & Spa, Goa - Best Wedding Venue ITC Haridwar Unit won the ‘Outstanding Performance in (Domestic) and Club ITC - Best Hotel Loyalty Programme by Food Safety Excellence Award’ in the Large Manufacturing Guide to Subsidiaries, Joint Ventures & Associates 221 Travel+Leisure India at the ‘India’s Best Awards’. Food Business Bakery category at the CII Award for Food Salient Features of the Financial Statements of ITC’s Agri Business received the Global Good Agricultural Safety 2019. 224 Practices (GAP) certification, for its efforts in implementing Subsidiaries, Joint Ventures & Associates (AOC-1) sustainable agricultural practices with chilli farmers in ITC’s Spices business received the ‘Outstanding Andhra Pradesh, Karnataka and Telangana. Performance Award’ in the spices & sauces category at the Consolidated Financial Statements 229 ITC Head Office, Kolkata received the ‘LEED Platinum’ CII Award for Food Safety 2019. Ten Years at a Glance 320 Certification in Existing Building Operation & Maintenance ITC received the ‘CII National HR Excellence Award’ for category from the U.S. Green Building Council. Significant Achievement in HR Excellence. Financial Highlights Business Responsibility Report I-XVI Major Awards Business Update : lTC lnfotech Over The Years Creating Enduring Institutions Mr Sanjiv Puri, Chairman & Managing Director, was ITC’s Paperboards and Specialty Papers Units at honoured with the ‘Distinguished Alumnus Award of the Bhadrachalam, Bollaram, Kovai and Tribeni were FSC Chain of Awards & Accolades Year 2018’ conferred by IIT, Kanpur in recognition of his Custody certified (2015). achievements of exceptional merit (2018). ITC was ranked as ‘India’s Most Admired Company’ in a ITC has won the prestigious Porter Prize 2017 for ‘Excellence survey conducted by Fortune India magazine and Hay Group in Corporate Governance and Integration’ and for its (2014). The Mnemonic for this year’s Annual Report denotes ITC’s multiple drivers of exemplary contribution in ‘Creating Shared Value’ (2017). ITC was presented the World Business and Development growth represented by the diverse coloured petals blooming and growing ITC won the ‘Best Practices Award’ from United Nations Award at the Rio+20 UN Summit for its Social and Farm outward in all directions, signifying ITC’s growing contribution across sectors. Global Compact Network India for two major game- Forestry initiative (2012). The interlinked loops in the middle represent the synergies between ITC’s diverse changing initiatives of the Company – Integrated Watershed ITC was conferred the National Award for Excellence businesses contributing to its competitiveness. The use of bright colours in the Development and Social & Farm Forestry (2017). in Corporate Governance by the Institute of Company mnemonic symbolises ITC’s resolve to reimagine the future with new ideas and Secretaries of India (2007). aspirations. The use of saffron, white and green in the top-bottom and left-right ITC Limited became the 1st company to win the India ITC was the 1st Indian Company and 2nd in the world to sequence in the interlinked loop represent ITC’s credo of Nation First. Today Safaigiri Corporate Trailblazer Award 2016. win the Development Gateway Award for its trail-blazing ITC’s Sankhya Data Centre, Bengaluru became the first data e-Choupal initiative (2005). All ITC facilities have implemented the highest standards of hygiene and safety. Some of the pictures in the report were taken prior centre in the world to get LEED® Platinum Certification from to the COVID-19 pandemic and therefore may not depict the current pandemic related measures. the US Green Building Council (2016). For more details on awards, please refer to www.itcportal.com REPORT AND ACCOUNTS 2020 ITC: Reimagining the Future, Putting Nation First The COVID-19 pandemic has severely impacted lives and ITC’s diverse portfolio of businesses creates multiple drivers livelihoods across the globe. The long-term implication of growth across all the 3 sectors of the Indian economy – on societies and economies will be far reaching and are agriculture, manufacturing and services. yet unknown. The Government speedily responded to the crisis by announcing a package of measures and reforms ITC’s commitment to national priorities is today manifest in aimed at providing relief to the vulnerable as well as to lay the expansion of its bouquet of world-class Indian brands the foundations of a stronger economy in the years ahead. that anchor inclusive value chains and provide sustainable The Prime Minister’s clarion call for ‘Atmanirbhar Bharat’ livelihoods at scale, whilst retaining larger value in the is inspirational and will pave the way to build a stronger Indian economy, in its investments in building world-class and resilient India. This is indeed a time when all sections manufacturing assets and iconic hotels that contribute to of society must lend their shoulders to move forward in a India’s competitiveness, in the cutting-edge research and journey that calls for agility in adversity and compassion in innovation focus, in the resolve of its legendary e-Choupal crisis. agri ecosystem to empower farmers and in its active The unprecedented national crisis will no doubt call for journey towards digitalisation of processes, manufacturing, a reboot of strategies and a new way of reimagining agri value chains, distribution, et al to create even more the future for a progressive and self-reliant India. Such value for its stakeholders. black
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