“In aggregate, the non-cigarette businesses account for over 80% of your company’s operating capital employed, about 90% of the employee base, and over 80% of annual investments. "In the past few years, ITC evidenced its makeover into a diversified group through double-digit growth in the non-cigarette business, especially foods. This division is expected to generate Rs 60,000-65,000 crore in sales, up from about Rs 9,700 crore now.With brands such as Aashirvaad, Bingo, and Sunfeast, ITC is the leader in the branded wheat-flour market and a dominant player in cookies. ITC is India’s second-largest company in segments such as noodles, deodorants and incense sticks. This was achieved, he said, “despite heightened competitive intensity, elevated input costs, gestation costs of new products/categories and manufacturing facilities, and ongoing restructuring of the lifestyle retailing business”.

Source: Economic Times June 14, 2019 01:07 UTC