
On August 24, 2024, ITC celebrates its 114th anniversary, marking a remarkable journey since its inception in 1910. Originally established as the Imperial Tobacco Company of India Limited, ITC has evolved into one of India’s largest and most diversified conglomerates, with a presence across multiple sectors including FMCG, hotels, paperboards, packaging, agribusiness, and information technology.
Historical Evolution and Milestones
ITC began as a cigarette manufacturer, which remains one of its core businesses even today. However, over the decades, the company diversified into various sectors. The 1970s and 1980s marked significant diversification, including the launch of its paperboard business in 1979 and the foray into the hospitality sector with ITC Hotels in 1975. Soon, ITC will demerge its hotel business from the main entity for it to grow as a standalone business.
In the 2000s, ITC ventured into the FMCG sector with brands like Aashirvaad, Sunfeast, and Bingo!, which have since become household names in India. ITC also embraced sustainability as a core strategy, emphasizing environmental and social responsibilities across its business operations.
Financial Performance
For the quarter ending June 2024 (Q1 FY25), ITC reported a marginal increase in standalone profit to ₹4,917.45 crore from ₹4,902.74 crore in the same period last year. The company’s revenue grew by 7.2% year-on-year to ₹18,219.74 crore, driven by strong performance in its FMCG and agribusiness segments.
Current Market Position
As of August 2024, ITC’s market capitalization stands at approximately $75.48 billion, making it one of India’s most valuable companies. This significant valuation reflects the company’s robust business model and its ability to adapt and thrive in a rapidly changing business environment.
As ITC looks to the future, its focus on innovation, sustainability, and expanding its digital footprint promises to drive the next phase of growth, ensuring it remains a dominant force in India’s corporate landscape for years to come