ITC to amalgamate wholly owned subsidiary Sproutlife Foods into itself

ITC (NSE: ITC) has approved a scheme to amalgamate its wholly owned subsidiary Sproutlife Foods Private Limited into the company, with the scheme effective from 1 Apr 2026, it said in a filing on 02 Nov 2026. Sproutlife's FY 2025-26 turnover was ₹451.71 crore, against ITC's ₹80,867.49 crore.

Key highlights

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The amalgamation in numbers

Sproutlife's business and the scheme's terms

Sproutlife makes bars, muesli, oats, protein-rich foods and peanut butter under the brand Yoga Bar, the filing says. The transfer of all its assets, liabilities, rights, obligations and employees to ITC will be at arm's length, the company says.

Scale of the step against ITC's balance sheet

Sproutlife's total assets of ₹150.07 crore are about 0.2% of ITC's ₹88,915.86 crore, and its net worth of ₹5.22 crore is under 0.01% of ITC's ₹68,434.16 crore. Its turnover of ₹451.71 crore is about 0.6% of ITC's ₹80,867.49 crore, on the audited FY 2025-26 standalone figures.

The company says the scheme will enable integration of business operations, optimal use of resources, more efficient capital allocation and fewer operating entities. ITC's latest quarter, Q2 FY27, reported consolidated total income of ₹31,085.76 crore, filed the same day.

What the amalgamation means for ITC's shareholders

The filing states there will be no change in ITC's shareholding pattern, and no fresh shares will be issued. The step removes a wholly owned subsidiary from the group structure rather than adding a new holding.

The filing does not state the approvals still needed or when they will be sought, and it gives no consideration beyond the cancellation of shares. What effect the scheme will have on ITC's reported results is not stated. The Board meeting ran from 2.45 p.m. to 6.05 p.m. on 2 Nov 2026.