ITC Limited
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| Company type | Public |
|---|---|
| BSE: 500875 NSE: ITC BSE SENSEX Constituent CNX Nifty Constituent | |
| Industry | Conglomerate |
| Predecessor | W.D. & H.O. Wills . |
| Founded | 24 August 1910[1][2] (as Imperial Tobacco Company of India) |
| Headquarters | Kolkata, West Bengal, India[3] |
Key people | [Y C Deveshwar](Chairman) |
| Products | Consumer goods Tobacco Hotels Agribusiness Paperboards & specialty papers Packaging Information technology |
| Revenue | ₹60,493 crore (US$7.2 billion) (2017)[4] |
| ₹15,037 crore (US$1.8 billion) (2015)[4] | |
| ₹10,471 crore (US$1.3 billion) (2017)[4] | |
| Total assets | ₹32,159 crore (US$3.9 billion) (2015)[4] |
Number of employees | 25,959 (Mar 2013)[5] |
| Divisions | ITC Infotech, Surya Nepal Pvt. Ltd. |
| Website | www |
ITC Limited or ITC is an Indian conglomerate based in Kolkata, West Bengal. Its diversified business includes five segments: Fast-Moving Consumer Goods (FMCG), Hotels, Paperboards & Packaging, Agri Business & Information Technology.
Established in 1910 as the Imperial Tobacco Company of India Limited, the company was renamed as the Indian Tobacco Company Limited in 1970 and later to I.T.C. Limited in 1974. The periods in the name were removed in September 2001 for the company to be renamed as ITC Ltd.2005-09, by Boston Consulting Group. The company completed 100 years in 2010 and as of 2012-13, had an annual turnover of US$8.31 billion and a market capitalization of US$45 billion. It employs over 25,000 people at more than 60 locations across India and is part of Forbes 2000 list.
History
ITC was formed on 24 August 1910 under the name of Imperial Tobacco Company of India Limited,and the company went public on 27 October 1954. The earlier decades of the company's activities centered mainly around tobacco products. In the 1970s, it diversified into non-tobacco businesses.
In 1975, the company acquired a hotel in Chennai, which was renamed the ITC-Welcomgroup Hotel Chola' (now renamed to WelcomHotel Chennai).
In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepali and British joint venture, with the shares divided between ITC, British American Tobacco and various independent domestic shareholders in Nepal. In 2002, Surya Tobacco became a subsidiary of ITC and its name was changed to Surya Nepal Private Limited.
In 2000, ITC launched the Expressions range of greeting cards, the Wills Sport range of casual wear, and a wholly owned information technology subsidiary, ITC Infotech India Limited.
In 2001, ITC introduced the Kitchens of India brand of ready-to-eat Indian recipes, which are produced and sold internationally, at first in cans and later in retort packages, and more recently online and at festivals.
In 2002, ITC entered the confectionery and staples segments and acquired the Bhadrachalam Paperboards Division and the safety matches company WIMCO Limited.
ITC diversified into body care products in 2005.
In 2010, ITC launched its handrolled cigar - Armenteros - in the Indian market.
The company began online sales in 2014.
Products and brands
Cigarettes
ITC Ltd sells 81 % of the cigarettes in India, where 275 million people use tobacco products and the total cigarette market is worth close to $6 billion (around Rs. 35,000 crore)
ITC's major cigarette brands include Wills Navy Cut, Gold Flake Kings, Gold Flake Premium lights, Gold Flake Super Star, Insignia, India Kings, Classic (Verve, Menthol, Menthol Rush, Regular, Citric Twist, Ice Burst, Mild & Ultra Mild), 555, Silk Cut, Scissors, Capstan, Berkeley, Bristol, Lucky Strike, Players, Flake and Duke & Royal.
Other businesses
- Foods: ITC's major food brands include Kitchens of India; Aashirvaad, B natural, Sunfeast, Candyman, Bingo! and Yippee!. ITC is India's largest seller of branded foods with of over Rs. 4,600 crore in 2012-13. It is present across 6 categories in the food business including, snack foods, ready-to-eat meals, fruit juices, dairy products and confectionary.
- Personal care products include perfumes, haircare and skincare categories. Major brands are Fiama Di Wills, Vivel, Essenza Di Wills, Superia and Engage.
- Stationery: Brands include Classmate, PaperKraft and Colour Crew. Launched in 2003, Classmate went on to become India's largest notebook brand in 2007.
- Safety Matches and Agarbattis: Ship, i Kno and Aim brands of safety matches and the Mangaldeep brand of agarbattis (Incense Sticks).
- Hotels: ITC's Hotels division (under brands including WelcomHotel) is India's second largest hotel chain with over 90 hotels throughout India. ITC is also the exclusive franchisee in India of two brands owned by Sheraton International Inc. Brands in the hospitality sector owned and operated by its subsidiaries include Fortune Park Hotels and WelcomHeritage Hotels.
- Paperboard: Products such as specialty paper, graphic and other paper are sold under the ITC brand by the ITC Paperboards and Specialty Papers Division like Classmate product of ITC well known for there quality .
- Packaging and Printing: ITC's Packaging and Printing division operates manufacturing facilities at Haridwar and Chennai and services domestic and export markets.
- Information Technology: ITC operates through its fully owned subsidiary ITC Infotech India Limited,.
Shareholding and listings
ITC's equity shares are listed on Bombay Stock Exchange, National Stock Exchange of India and Calcutta Stock Exchange.[6][7] The company's Global Depository Receipts (GDRs) are listed on the Luxembourg Stock Exchange.
Employees
As per the Annual report of the company, it had 25,963 employees as on 31 March 2013, out of which 3,043 were women. It spent Rs. 2,145 crores on Employee benefits during the FY 2012-13. During the same year, its attrition rate was 12%.
Its Chairman Y C Deveshwar has won renowned awards and recognitions including Padma Bhushan from Govt. of India 2005-09, by Boston Consulting Group.and 7th best performing CEO in the world by Harvard Business Review.
Meera Shankar, Indian ambassador to the USA between 2009 and 2011, in 2012 joined the board of ITC Limited as the first woman director in its history.[8] She is an additional non-executive director of the company.[9]
Board of directors
Yogesh chander deveshwar : chairman and non executive director
Rajiv tandon: executive director and cfo
Zafir alam :non executive director
Nakul anand: executive director
Sanjiv puri: executive director and CEO
Nirupama rao: non executive director
- ^ "Company History - ITC Ltd". Economic Times. Retrieved 15 September 2013.
- ^ "History and Evolution". ITC Limited. Retrieved 14 September 2013.
- ^ "The ITC Network: Registered Office". ITC Ltd. Retrieved 14 June 2014.
- ^ a b c d http://www.itcportal.com/about-itc/shareholder-value/key-financials/Q4-1617.pdf>
- ^ "Annual Report 2012-13". ITC Limited. 17 May 2013. Retrieved 14 September 2013.
- ^ "General Information". ITC. Retrieved 14 September 2013.
- ^ "Listing Information - ITC". Economic Times. Retrieved 15 September 2013.
- ^ Mukherjee, Writankar (4 August 2012). "ITC inducts Meera Shankar in its board as the first women ever". The Times Of India. Retrieved 15 September 2013.
- ^ "ITC Board of Directors". Retrieved 15 September 2013.
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