ITC Ltd

India

OWNERSHIP

Publicly Traded^*

RANK

(out of 15)

FINAL SCORE

1.41

(out of 5)

Operating Environment

ITC Ltd (ITC) operates in one Index Region (Asia Pacific), and in one of the 36 Index Countries (India).

ITC operates exclusively in LMICs.

ITC’s product portfolio consists of cigarettes, cigars, and NRT products.

Publicly Stated Position on Tobacco Harm Reduction

No publicly stated position found on tobacco harm reduction as defined by this Index.

Change Since 2020 Index

ITC’s Capital Allocation and Expenditure category score increased as ITC invested in an e-cigarette manufacturing facility in 2021 for export to Europe and the USA.

ITC’s Marketing Policy & Compliance category score increased. Its 2021 Integrated Report refers to its marketing policy, which includes specific provisions concerning health warnings and advertising.

ITC’s Lobbying and Advocacy category score increased, as ITC added a policy on Responsible Advocacy to its corporate website.

Category Scores

Strategy & Management

ITC does not publicly acknowledge its role in, nor make a formal commitment to reducing, tobacco-related death and disease.

ITC sells NRT products and has obtained regulatory approvals for the future manufacture and export of nicotine and nicotine derivative products. ITC does not set any objectives related to tobacco harm reduction.

Product Sales

ITC has the tenth-highest Volume Sales of HRPs (2021: 61.4 billion stick equivalents).

With 0.04% of its total volumes coming from RRPs, ITC has the ninth-highest score for Ratio of Volume Sales (RRPs versus HRPs).

Capital Allocation & Expenditure

ITC’s allocation of R&D Expenditure on RRPs (versus its total R&D expenditure), at an estimated 3%, is the tenth highest of the Index Companies.

At 31%, ITC’s allocation of Capital Expenditure (RRPs versus HRPs) ranks it in seventh place.

Product Offer

ITC offers both HRPs (cigarettes, cigars) and RRPs (NRT products) in one Index Country (India).

In terms of product categories, ITC has two HRPs, compared to one RRP in its portfolio.

Marketing Policy & Compliance

ITC does not publicly disclose a Youth Access Prevention Policy.

Lobbying & Advocacy

ITC does not disclose its policy positions related to tobacco harm reduction.

ITC does not disclose specific lobbying activities and memberships in all jurisdictions in which it operates.

Net Value Sales

In 2021

High-Risk Products

99.9%

Reduced-Risk Products

0.1%

Products Offered

In 2021

High-Risk Products

Reduced-Risk Products

Capital Allocation & Expenditure

In 2021

High-Risk Products

94.0%

Reduced-Risk Products

6.0%

ppts = Difference in percentage between 2021 and 2019

*ITC Ltd is publicly traded but state enterprises own 24.2% of the company.