ITC starts clinical trials of nasal spray for COVID-19 preventionThe company plans to market the nasal spray under the Savlon brand once it gets all the requisite regulatory approvals
ITCas fragrance brand launches Fragrance Finder: ReportThe tool analyses responses to questions on a consumeras likings, gender identity and occasion of usage, and pops up suggestions
ITCas arm accelerates MES implementation and value creation for clientsITC Infotech partners with clients to accelerate their MES journey while creating sustainable business impact
ITC to invest around $2 billion as part of 'ITC Next' strategyBesides, ITC is also looking for acquisitions as part of its expansion plans, the spend on which will be over and above its planned investment
ITC to explore opportunities to craft disruptive business modelsThe company is pursuing an accelerated journey to build a dynamic aFutureTecha enterprise by investing in cutting-edge digital technologies
ITC Groupas foreign exchange earnings from exports up 29% in FY21The foreign exchange earned by ITC was up 31.2 percent to Rs 4,600 crore, mainly on account of exports of agri-commodities
ITCas hospitality arm launches Welcomhotel Tavleen Chail in Himachal PradeshWelcomhotel Tavleen Chail has 65 well-appointed guest rooms, including 18 cottages and a luxury suite
ITC ties up with Linde India to import cryogenic containers to transport oxygenThe initiative is aimed at easing the bottleneck of transporting medical oxygen, and to support the government's efforts
ITC signs MoU with Government of KarnatakaThe MoU is a part of ITC's Sustainability 2.0 agenda which encompasses forging meaningful public-private-people partnerships to amplify impact and reach
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ITC is an Indian business conglomerate with a diversified product portfolio spanning FMCG, personal care, cigarettes and cigars, information technology, hotels, education and stationeries, paperboards and packaging, agri-business, and more. They are among India’s top 10 most valuable private sector companies with a market capitalisation value of USD 14 billion and a turnover of around USD 5 billion.
ITC is more than a century-old company. It started in 1910 in Kolkata as the Imperial Tobacco Company of India, initially to produce cigarettes and tobacco. However, as Indian ownership gradually increased, the name was changed to India Tobacco Company Ltd. in 1970 and I.T.C Ltd. in 1974. The company name went through a final modification in 2001 and became ITC Ltd.
ITC boasts a multi-business portfolio with a wide range of products. It entered the hospitality business in 1975 by acquiring ITC-Welcome Group Chola. They are also the largest exporter of agricultural products in India. On the technological foray, the company offers IT services and solutions to the global market through a wholly-owned subsidiary, ITC Infotech India Ltd.
ITC is one of the few companies that have a strong association with the history of India. Incorporated before independence, the company is more than a century old and is strongly nation-oriented at the core.
- In 1979, ITC started the paperboard business by promoting ITC Bhadrachalam Paperboards Limited. In 2002, it merged into the ITC group and became a division of the company. ITC Bhadrachalam Paperboards is the leader in the segment with a significant market share.
- They started Surya Tobacco Co. in Nepal, a joint venture between India, Nepal and the British American Tobacco Company. In 2002, it became a wholly-owned subsidiary of the group.
- ITC acquired Tribeni Tissues Limited, a primary supplier of tissue papers to the cigarette industry, in 1990.
- ITC began dabbling into the agricultural domain with the Agri-Business Division in 1990, primarily focusing on export.
- Their stationery division started in 2000, promoting their in-house brand Classmate. Besides stationeries, it also produces greetings, gisting items, children books, slam books, pens and pencils, geometry boxes under the brand.
- The company has also forayed into lifestyle retailing with the Wills Sport range, producing relaxed wear and athleisure clothes for men and women in 2000. In the same year, they also started venturing into information technology.
- Apart from these, the company also produces food items, confectionery, snacks, and staples.
Company financial performance
Here is a glimpse of their recent financial performance.
- ITC reported an increase of 11.1% growth in their revenue and 13.7% growth in PAT year-on-year
- There is a significant recovery in all segments from a disruptive Q1 performance
- Their FMCG segment delivered a 23% increase in revenue over Q2 FY20 and 8% sequentially
- Net earnings from cigarette selling, its core business, went up by 10.3% year-on-year and by 10.5 % quarter-on-quarter
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