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Type Industry Predecessor(s) Founded

Headquarters Key people Products

Revenue Operating income Net income Total assets Total equity Employees Divisions Website

Public Conglomerate W.D. & H.O. Wills August 24, 1910 (as Imperial Tobacco Company of India) Kolkata, West Bengal, India Y C Deveshwar, (Chairman) Tobacco, Hotels, Paperboards & specialty papers, packaging, agri-business, packaged foods &confectionery, IT, branded apparel, personal care stationery, safety matches and other FMCG products INR 45,102 Crores (US$ 8.31 billion) (2012-13) INR 11,106 Crores (US$ 2.05 billion) (2012-13) INR 7,608 Crores (US$ 1.40 billion) (2012-13) INR 35,353 Crores (US$ 6.51 billion) (Mar 2013) INR 23,158 Crores (US$ 4.27 billion) (Mar 2013) 25,959 (Mar 2013) ITC Infotech, Surya Nepal Pvt. Ltd. www.itcportal.com

About ITC Ltd.


ITC Limited or ITC is an Indian public conglomerate company (25.4% owned by British corporation, British American Tobacco) headquartered in Kolkata, West Bengal, India. Its diversified business includes four segments: Fast Moving Consumer Goods (FMCG), Hotels, Paperboards, Paper & Packaging and Agri Business. ITC is one of India's foremost private sector companies with a market capitalisation of US $ 45 billion and a turnover of US $ 7 billion. ITC is rated among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most Reputable Companies by Forbes magazine and among India's Most Valuable Companies by Business Today. ITC ranks among India's '10 Most Valuable (Company) Brands', in a study conducted by Brand Finance and published by the Economic Times. ITC also ranks among Asia's 50 best performing companies compiled by Business Week. The company is currently headed by Yogesh Chander Deveshwar. It employs over 29,000 people at more than 60 locations across India and is listed on Forbes 2000. ITC Limited completed 100 years on 24 August 2010. ITC has a diversified presence in FMCG (Fast Moving Consumer Goods), Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business and Information Technology.

History and Evolution


ITC was incorporated on August 24, 1910 under the name Imperial Tobacco Company of India Limited. As the Company's ownership progressively Indianised, the name of the Company was changed from Imperial Tobacco Company of India Limited to India Tobacco Company Limited in 1970 and then to I.T.C. Limited in 1974. In recognition of the Company's multi-business portfolio encompassing a wide range of businesses - Fast Moving Consumer Goods comprising Foods, Personal Care, Cigarettes and Cigars, Branded Apparel, Education and Stationery Products, Incense Sticks and Safety Matches, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business and Information Technology - the full stops in the Company's name were removed effective September 18, 2001. The Company now stands rechristened 'ITC Limited'. The Company's beginnings were humble. A leased office on Radha Bazar Lane, Kolkata, was the centre of the Company's existence. The Company celebrated its 16th birthday on August 24, 1926, by purchasing the plot of land situated at 37, Chowringhee, (now renamed J.L. Nehru Road) Kolkata, for the sum of Rs 310,000. This decision of the Company was historic in more ways than one. It was to mark the beginning of a long and eventful journey into India's future. The Company's headquarter building, 'Virginia House', which came up on that plot of land two years later, would go on to become one of Kolkata's most venerated landmarks.

History and Evolution


Though the first six decades of the Company's existence were primarily devoted to the growth and consolidation of the Cigarettes and Leaf Tobacco businesses, the Seventies witnessed the beginnings of a corporate transformation that would usher in momentous changes in the life of the Company. ITC's Packaging & Printing Business was set up in 1925 as a strategic backward integration for ITC's Cigarettes business. It is today India's most sophisticated packaging house. In 1975, the Company launched its Hotels business with the acquisition of a hotel in Chennai which was rechristened 'ITC-Welcomgroup Hotel Chola' (now renamed My Fortune, Chennai). The objective of ITC's entry into the hotels business was rooted in the concept of creating value for the nation. ITC chose the Hotels business for its potential to earn high levels of foreign exchange, create tourism infrastructure and generate large scale direct and indirect employment. Since then ITC's Hotels business has grown to occupy a position of leadership, with over 100 owned and managed properties spread across India under four brands namely, ITC Hotels - Luxury Collection, WelcomHotels, Fortune Hotels and WelcomHeritage.

History and Evolution


In 1979, ITC entered the Paperboards business by promoting ITC Bhadrachalam Paperboards Limited. Bhadrachalam Paperboards amalgamated with the Company effective March 13, 2002. In 2004, ITC acquired the paperboard manufacturing facility of BILT Industrial Packaging Co. Ltd (BIPCO), near Coimbatore, Tamil Nadu. The Kovai Unit allows ITC to improve customer service with reduced lead time and a wider product range. In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepal and British joint venture. In August 2002, Surya Tobacco became a subsidiary of ITC Limited and its name was changed to Surya Nepal Private Limited (Surya Nepal). In 2004, the company diversified into manufacturing and exports of garments. In 1990, ITC acquired Tribeni Tissues Limited, a Specialty paper manufacturing company and a major supplier of tissue paper to the cigarette industry. The merged entity was named the Tribeni Tissues Division (TTD). To harness strategic and operational synergies, TTD was merged with the Bhadrachalam Paperboards Division to form the Paperboards & Specialty Papers Division in November 2002.

History and Evolution


Also in 1990, leveraging its agri-sourcing competency, ITC set up the Agri Business Division for export of agri-commodities. The Division is today one of India's largest exporters. ITC's unique and now widely acknowledged e-Choupal initiative began in 2000 with soya farmers in Madhya Pradesh. Now it extends to 10 states covering over 4 million farmers. Also, through the 'Choupal Pradarshan Khet' initiative, the agri services vertical has been focusing on improving productivity of crops while deepening relationship with the farming community. ITC launched line of premium range of notebooks under brand Paperkraft in 2002. To augment its offering and to reach a wider student population, the Classmate range of notebooks was launched in 2003. Classmate over the years has grown to become India's largest notebook brand and has also increased its portfolio to occupy a greater share of the school bag. Years 2007- 2009 saw the launch of Practical Books, Drawing Books, Geometry Boxes, Pens and Pencils under the 'Classmate' brand. In 2008, ITC positioned the business as the Education and Stationery Products Business and launched India's first environment friendly premium business paperunder the 'Paperkraft' Brand. 'Paperkraft' offers a diverse portfolio in the premium executive stationery and office consumables segment. In 2010, Colour Crew was launched as a new brand of art stationery.

History and Evolution


ITC also entered the Lifestyle Retailing business with the Wills Sport range of international quality relaxed wear for men and women in 2000. The Wills Lifestyle chain of exclusive stores later expanded its range to include Wills Classic formal wear (2002) and Wills Clublife evening wear (2003). ITC also initiated a foray into the popular segment with its men's wear brand, John Players, in 2002. In 2006, Wills Lifestyle became title partner of the country's most premier fashion event - Wills Lifestyle India Fashion Week - that has gained recognition from buyers and retailers as the single largest B-2-B platform for the Fashion Design industry. To mark the occasion, ITC launched a special 'Wills Signature', taking the event forward to consumers. In 2000, ITC spun off its information technology business into a wholly owned subsidiary, ITC Infotech India Limited, to more aggressively pursue emerging opportunities in this area. Today ITC Infotech is one of India's fastest growing global IT and IT-enabled services companies and has established itself as a key player in offshore outsourcing, providing outsourced IT solutions and services to leading global customers across key focus verticals - Banking Financial Services & Insurance (BFSI), Consumer Packaged Goods (CPG), Retail, Manufacturing, Engineering Services, Media & Entertainment, Travel, Hospitality, Life Sciences and Transportation & Logistics.

History and Evolution


ITC's foray into the Foods business is an outstanding example of successfully blending multiple internal competencies to create a new driver of business growth. It began in August 2001 with the introduction of'Kitchens of India' ready-toeat Indian gourmet dishes. In 2002, ITC entered the confectionery and staples segments with the launch of the brands mint-o and Candyman confectionery and Aashirvaad atta (wheat flour). 2003 witnessed the introduction of Sunfeast as the Company entered the biscuits segment. ITC entered the fast growing branded snacks category with Bingo! in 2007. In 2010, ITC launched Sunfeast Yippee! to enter the Indian instant noodles market. In just over a decade, the Foods business has grown to a significant size under seven distinctive brands, with an enviable distribution reach, a rapidly growing market share and a solid market standing. In 2002, ITC's philosophy of contributing to enhancing the competitiveness of the entire value chain found yet another expression in the Safety Matches initiative. ITC now markets popular safety matches brands like iKno, Mangaldeep and Aim.

History and Evolution


ITC's foray into the marketing of Agarbattis (incense sticks) in 2003 marked the manifestation of its partnership with the cottage sector. Mangaldeep is a highly established national brand and is available across a range of fragrances like Rose, Jasmine, Bouquet, Sandalwood, Madhur, Sambrani and Nagchampa. ITC entered the Personal Care Business in 2005. In seven years, the Personal Care portfolio has grown under'Essenza Di Wills', 'Fiama Di Wills', 'Vivel' and 'Superia' brands which have received encouraging consumer response and are also being progressively extended nationally. In 2010, ITC launched its handrolled cigar, Armenteros, in the Indian market. Armenteros cigars are available exclusively at tobacco selling outlets in select hotels, fine dining restaurants and exclusive clubs.

Top Brands

List of products
Cigarettes: W.D. & H.O. Wills, Gold Flake Kings, Gold Flak Premium, Gold Flake Super Star, Navy Cut, Insignia, India Kings, Classic (Verve, Menthol, Menthol Rush, Regular, Citric Twist, Mild & Ultra Mild), 555, Benson & Hedges, Silk Cut, Scissors, Capstan, Berkeley, Bristol, Lucky Strike, Players and Flake. Foods:(Kitchens of India; Aashirvaad, Minto, Sunfeast, Candyman, Bingo, Yippee, Sunfeast Pasta brands in Ready to Eat, Staples, Biscuits, Confectionery, Noodles and Snack Foods); Apparel: (Wills Lifestyle and John Players brands); Personal care:(Fiama di Wills; Vivel; Essenza di Wills; Superia; Vivel di Wills brands of products in perfumes, haircare and skincare) Stationery: (Classmate and PaperKraft brands) Safety Matches and Agarbattis:[Ship (through ownership of WIMCO); iKno; Mangaldeep; Aim brands]

Other Businesses
Hotels: ITC's hotels (under brands including WelcomHotel) have evolved into being India's second largest hotel chain with over 80 hotels throughout the country. ITC is also the exclusive franchisee in India of two brands owned by Sheraton International Inc.- The Luxury Collection and Sheraton which ITC uses in association with its own brands in the luxury 5 star segment. Brands in the hospitality sector owned and operated by its subsidiaries include Fortune and WelcomeHeritage brands. Paperboard, Specialty Paper, Graphic and other Paper; Packaging and Printing for diverse international and Indian clientele. InfoTech (through its fully owned subsidiary ITC Infotech India Limited which is a SEI CMM Level 5 company)

Facts
In 2012-13, ITC earned a revenue of Rs. 27,136 crores from the business of Cigarettes (56% of total revenue). In the same year, this segment contributed to profits of Rs. 8,694 crores (82% of total profits). ITC Ltd sells 80 percent of the cigarettes in the India, where 275 million people use tobacco products.

Shareholders
Shareholders (as on 31-March-2013) Shareholding 30.54% 19.68% 33.44% 04.91% 11.13% 00.30% 100.00%

Foreign companies (mainly British American Tobacco Company)


Foreign Institutional Investors (FII) Banks, Financial Institutions, Insurance Companies and Mutual Funds Bodies Corporate Public and Others GDRs Total

Rural Initiatives
e-Choupal: ITC's Agri-Business is one of India's largest exporters of agricultural products. ITC is one of the India's biggest foreign exchange earners (US $5.4 billion in the last decade). The Company's 'e-Choupal' initiative is enabling Indian agriculture significantly enhance its competitiveness by empowering Indian farmers through the power of the Internet. This transformational strategy, which has already become the subject matter of a case study at Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Company's marketing reach. The company places computers with Internet access in rural farming villages; the e-Choupals serve as both a social gathering place for exchange of information (choupal means gathering place in Hindi) and an e-commerce hub. What began as an effort to re-engineer the procurement process for soy, tobacco, wheat, shrimp, and other cropping systems in rural India has also created a highly profitable distribution and product design channel for the companyan e-commerce platform that is also a low-cost fulfillment system focused on the needs of rural India. ITC e-choupal creatively leverages information technology to set up a meta-market in favour of India's small and poor farmers, who would otherwise continue to operate and transact in 'un-evolved' markets. As of July 2010, services through 6500 Echoupal across 10 states, reach more than 4 million farmers in about 40,000 villages. Free access to Internet is also opening windows of rural India to the world at large. ITC e-choupal is now being regarded as a reliable delivery mechanism for resource development initiatives. Its potential is being tested through pilot projects in healthcare, educational services, water management and cattle health management with the help of several service providers including nongovernmental organizations. In 2008, this initiative was recognised in the list of "Innovations to make markets more inclusive for the poor" in World Development Report Sep-2008 by World Bank.

Employees
As per the Annual report of the company, it had 25,960 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 and 7th best performing CEO in the world by Harvard Business Review. Meera Shankar, Indian ambassador to USA between 2009 and 2011, joined the board of ITC Limited as the first woman director in its history. She is an additional non-executive director of the company.

Awards and Recognitions


ITC features on the Forbes Global 2000 rankings for 2012 at position 841. In the same rankings, the company's market value placed it as the 184th largest company in the world. Forbes has also included the company in Asia's Fab 50 Companies list. In 2013, ITC was ranked the third most admired company in India by Fortune. In 2011, all of ITCs super premium luxury hotels were accorded LEED Platinum certification, making ITC Hotels the Greenest Luxury Hotel Chain in the World. In 2010, ITC was ranked 6th amongst global consumer goods companies in sustainable value creation during 2005-09, by Boston Consulting Group. It received the National Award for Excellence in Corporate Governance from the Institute of Company Secretaries of India in 2007. In 2006, ITC's e-Choupal program won the Stockholm Challenge Award 2006 in the Economic Development category. This program enables over 3.5 million farmers to access crop-specific and customised information in their native village habitat and language

Revenue Q2 FY13
Net Revenue records an underlying growth of 15.2% after adjusting for the high level of wheat exports in Q2 FY13 due to shortfall in global crop output last year. Non-cigarette FMCG segment registers a healthy revenue growth of 15.7% despite a sluggish demand environment; sustains improving profitability momentum. Hotels Business continues to be impacted by the weak macroeconomic environment and a spurt in room additions in key markets. Agri Business records an underlying growth of 8.5% in Segment Revenue with significant improvement in profitability. Paperboards, Paper & Packaging Segment Revenue up 11.7% driven by paperboards and flexible packaging. Sharp escalation in input costs (particularly of wood) impacts profitability.

Thank you
Narayan Singh Samant T & D, Noida Campus

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