The company is engaged in various business operations which include paperboards and specialty papers, cigarettes, branded apparel, and agri-business. Furthermore, ITC manages hotels and offers packaged foods and confectionery, greeting cards and other fast moving consumer good (FMCG) products. The company’s wholly owned Information Technology subsidiary, ITC Infotech India Limited provides IT solutions, including e-enabled services and business process outsourcing. The food business of the company offers ready to eat foods, staples, confectionery, and snack foods under market leading brands including Kitchens of India, Aashirvaad, Sunfeast, Candyman, and Bingo. ITC is headquartered at Kolkata, India.
The company reported revenues of (Rupee) INR 165,500.80 million during the fiscal year ended March 2009, an increase of 11.02% over 2008. The operating profit of the company was INR 49,847.60 million during the fiscal year 2009, an increase of 6.62% over 2008. The net profit of the company was INR 33,245.90 million during the fiscal year 2009, an increase of 5.28% over 2008.
Chairman: Y C Deveshwar
Executive Directors: K Vaidyanath & K N Grant
The ITC Vision: Sustain ITC's position as one of India's most valuable corporations through world class performance, creating growing value for the Indian economy and the Company’s stakeholders.
The ITC Mission: To enhance the wealth generating capability of the enterprise in a globalising environment, delivering superior and sustainable stakeholder value.
ITC is involved in following businesses:
ITC Ltd is one of India's premier private sector companies with diversified presence in businesses such as Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology, Branded Apparel, Greeting Cards, Safety Matches and other FMCG products. Presently, ITC has a market capitalisation of nearly US $ 15 billion and a turnover of over US $ 4.75 billion. It employs over 21,000 people at more than 60 locations across India. ITC has been rated among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most Reputable Companies by Forbes magazine, among India's Most Respected Companies by Business World and among India's Most Valuable Companies by Business Today.
Cigarettes: ITC is the market leader in cigarettes in India and has a wide range of popular brands such as Insignia, India Kings, Classic, Gold Flake, Silk Cut, Navy Cut, Scissors, Capstan, Berkeley, Bristol and Flake in its portfolio.
Packaging: ITC's Packaging & Printing Business is the country's largest convertor of paperboard into packaging. It was set up in 1925 as a strategic backward integration for ITC's Cigarettes business. It offers a variety of value-added packaging solutions for the food & beverage, personal products, cigarette, liquor, cellular phone and IT packaging industries.
Hotels: ITC entered the hotels business in 1975 with the acquisition of a hotel in Chennai which was rechristened Hotel Chola. Today ITC-Welcomgroup with over 70 hotels is one of the foremost hotel chains in India.
Paperboards: In 1979, ITC entered the Paperboards business by promoting ITC Bhadrachalam Paperboards. ITC's Paperboards business has a manufacturing capacity of over 360,000 tonnes per year and is a market leader in India across all carton-consuming segments.
Greeting, Gifting & Stationery: ITC's stationery brands "Paper Kraft" & "Classmate" are widely distributed brands across India. The Paperkraft designer stationery range consists of notepads & multi subject notebooks in hard, soft covers & multiple binding formats including spirals, wiros etc. ITC's Greeting & Gifting products include Expressions range of greeting cards and gifting products.
Safety Matches: ITC's brands of safety matches include iKno, Mangaldeep, VaxLit, Delite and Aim. The Aim is the largest selling brand of Safety Matches in India. ITC also exports premium brands to markets such as Europe, Africa and the USA.
Aggarbattis: ITC has launched Mangaldeep brand of Aggarbattis with a wide range of fragrances like Rose, Jasmine, Bouquet, Sandalwood, Madhur, Durbar, Tarangini, Anushri, Ananth and Mogra. Mangaldeep is also being exported to USA, UAE, Bahrain, Nepal, Singapore, Malaysia, Oman and South Africa.
Lifestyle Retailing: ITC 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). In 2002, ITC entered into the popular segment with its men's wear brand, John Players. In 2005, ITC introduced Essenza Di Wills, an exclusive line of prestige fragrance products.
Food: ITC made its entry into the branded & packaged Foods business in August 2001 with the launch of the "Kitchens of India" brand. In 2002 it expanded into Confectionery, Staples and Snack Foods segments. ITC's brand in Food category include: Kitchens of India, Aashirvaad, Sunfeast, Mint-O, Candyman, and Bingo!.
Agri Exports: ITC's International Business Division (IBD) is the country's second largest exporter of agri-products. ITC exports Feed Ingredients (Soyameal), Foodgrains (Rice, Wheat, Pulses), Coffee & Spices, Edible Nuts, Marine Products, and Processed Fruits.
e-choupal: The e-Choupal model of ITC has been very effective in tackling the challenges posed by the unique features of Indian agriculture, characterised by fragmented farms, weak infrastructure and the involvement of numerous intermediaries, among others. ITC's e-Choupal won the Stockholm Challenge 2006 award is for using information technology for the economic development of rural communities.
ITC for Rural Development:
- In partnership with rural communities, ITC supports over 5 million livelihoods in India.
- 6,500 e-Choupals installed to benefit 4 million farmers
- Over 90,000 hectares of wasteland greened, generating 40 million person days of employment
- 2,535 watershed development structures built to irrigate nearly 44,000 hectares of dry land
- Over 18,000 rural women, empowered to be entrepreneurs
- Supplementary education provided to over 1,83,000 children
- Integrated animal husbandry services provided to 2,77,000 milch animals
FICCI Outstanding Vision Triple Impact Corporate Award 2007 for exemplary triple bottom line performance.
The Development Gateway Award in 2005 for its trailblazing e-Choupal initiative. ITC is the first Indian company and the second in the world to win this award for the importance of its contribution to development priorities like poverty reduction, its scale and replicability, sustainability and transparency.
Wills Lifestyle rated amongst the top 5 Luxury brands in the country in a Global Luxury Survey conducted by TIME Magazine.
The inaugural 'World Business Award' in 2004, that recognises companies who have made significant efforts to create sustainable livelihood opportunities and enduring wealth in developing countries.
Sustainability Leadership Award 2007 conferred on Chairman Y C Deveshwar by the Sustainability Forum, Zurich and SAM/SPG at the International Sustainability Leadership Symposium.
The Corporate Social Responsibility Crown Award for Water Practices from UNESCO and Water Digest for its distinguished work carried out in the water sector in India.
The Corporate Award for Social Responsibility 2008 from The Energy and Resources Institute (TERI) in recognition of its exemplary initiatives in implementing integrated watershed development programmes across 7 states in India. The Company also won the award in 2004 for its e-Choupal initiative.
NDTV Profit Business Leadership Award for being the Best Food Company of 2007. The Award has been instituted to recognise organizational excellence.
The Stockholm Challenge 2006 for the e-Choupal initiative. This award is for using Information Technology for the economic development of rural communities.
ITC firmly believes that quality is not a specifically assignable task. It needs to be firmly rooted and institutionalized in the culture and value system of the Company. ITC nurtures a culture of striving for continuous improvement in quality, be it in products, services, systems or performance. The Company is committed to the establishment of systems and processes to promote organisational creativity and innovation.
ITC's development of its Integrated Quality Management System (IQMS) is based on its strong foundation of implementing ISO 9001:2000, ISO 14001, OHSAS 18001, SA 8000, HACCP (for Foods) and IQRS (performance rating and benchmarking of the quality management system). Likewise, ITC's strategic initiatives for developing its people have been based on participative management concepts like QC (Quality Control), TQM (Total Quality Management), KSS (Kaizen Suggestion Scheme), 5S, Six Sigma.
All ITC manufacturing units have ISO quality certification. Almost all contract manufacturing units in the Foods Business and all large hotels have food safety and quality systems certified by accredited 'third party' in accordance with 'Hazard Analysis Critical Control Points' (HACCP) standards. Additionally, the quality of all FMCG products of the Company is regularly monitored through 'Product Quality Rating System' (PQRS). The Leaf Tobacco and Printing & Packaging businesses have achieved world-class ratings in the 'International Quality Rating System' (IQRS) for business excellence in which key processes are rated against international benchmarks and certified by accredited 'third party' independent assurance providers.
ITC R&D Centre at Bengaluru provides systemised service to the entire range of ITC's businesses through Product Technology Cells, Common Service Modules, Advanced Research Initiativesand networking with national and international R&D centres.
Product Technology Cells (PTCs) are product-specific. Each PTC caters to the needs of the businesses through Market Intelligence, Product Testing & PQRS services, Prototyping services through advanced pilot plants, flavour and fragrance development services, periodic audit of factory quality systems and Product Knowledge and Training Workshops.
PTCs assist businesses through sensory evaluations by highly trained and specialised panelists. Common service modules like Packaging and Advanced Analytical labs offer their services across all businesses.
ITC R&D Centres are manned by highly qualified and trained scientists specialised in their fields. The labs and pilot plants have ultra modern, state-of-the-art testing and prototyping facilities. The laboratory at Bengaluru has obtained accreditation from NABL (National Accreditation Board for Testing & Calibration of Laboratories) for ISO 17025 for key testing protocols.
The ITC R&D hub in Hyderabad focuses on agri-sciences. This R&D facility, the first of its kind for the Company, will work on multiple businesses built on a common set of core competencies. The initial set of core competency areas identified are: Plant Breeding and Genetics, Agronomy, Microbiology, Molecular Biology and Silviculture. The facility aims to create 'Centres of Excellence' in these areas. A second hub of ITC R&D located in Bengaluru focuses on Bio-sciences and houses scientists with substantial research experience in Cell Biology, Proteomics, Genomics, Biocehmistry and Ingredient Sciences.
ITC's R&D programme at Bhadrachalam is the core of the Company's fibre strategy for its Paperboards and Specialty Papers business. This state-of-the-art research centre is consistently striving to improve the productivity of several tree species, in order to give attractive land-use alternatives to traditional farmers and wasteland owners. So far, more than 100 high-yielding, fast-growing and disease resistant 'Bhadrachalam' clones have been produced on a commercial scale, including 23 site-specific clones adapted to problematic soils. The productivity of these saplings is 6-9 times that of normal seedlings.
ITC's comprehensive R&D facilities at Rajahmundry in Andhra Pradesh cover all aspects of tobacco crop cultivation. In collaboration with the Central Tobacco Research Institute and the Tobacco Board, ITC pioneered FCV tobacco cultivation in India and introduced the Burley and HDBRG varieties. ITC's continued focus on crop development has resulted in new varieties of seeds and hybrids in Andhra Pradesh and Karnataka, which have significantly improved farm yields and helped fulfill the demands of a dynamic global market.
The Company's R&D team collaborates with other centres of excellence, and leverages expertise from several leading institutes including the University of Agricultural Science, Bengaluru; Indian Institute of Science, Bengaluru; CSIOR, Australia and CSIR, South Africa.
Catering to the need of ITC's Lifestyle Business is a contemporary master Design Facility at Gurgaon. It offers R&D facilities that have enabled the Company to offer internationally benchmarked fashion collection every season.
Group Companies:
Latest Key Developments
ITC Limited Denies Report Company In Talks To Buy RDB Industries Ltd.-DJThursday, 12 Aug 2010 Dow Jones reported that ITC Limited has denied a Press Trust Of India report that the Company is in talks to acquire the cigarette business of RDB Industries Ltd. The PTI report had cited unnamed sources as saying the deal would be worth between INR3 billion and INR3.50 billion. ITC Limited Is In Talks To Buy RDB Industries Ltd.-DJThursday, 12 Aug 2010 Dow Jones reported that according to Press Trust of India, ITC Limited is in talks to acquire the cigarette business of RDB Industries Ltd. ITC is in talks with RDB for buying the recently de-merged cigarette division. The deal would be worth between INR3 billion and INR3.50 billion. ITC Limited Announces Issue And Allotment Of Bonus SharesFriday, 6 Aug 2010 ITC Limited announced the Company has issued and allotted 382,67,01,530 ordinary shares of INR1 each, as Bonus shares to those members of the Company entitled thereto as on August 04, 2010, being the Record Date fixed for the purpose. Accordingly, with effect from August 06, 2010, the Issued, Subscribed and Paid-up share capital of the Company stands increased to INR765,34,03,060 divided into 765,34,03,060 ordinary shares of the face value of INR1 each. ITC Limited Announces Bonus IssueFriday, 23 Jul 2010 ITC Limited announced that the members at the Annual General Meeting (AGM) of the Company held on July 23, 2010, inter alia, approved issue of Bonus Shares in the proportion of one Bonus Share of INR1 each for every existing one fully paid up ordinary share of INR1 each. Record Date for the purpose of issue of Bonus Shares has been fixed as August 04, 2010. ITC Limited Recommends Bonus IssueFriday, 18 Jun 2010 ITC Limited announced that it Board of Directors has recommended the issue of bonus shares in the proportion of one bonus share of INR1 each for every existing one fully paid-up ordinary share of INR1each. ITC Limited Recommends DividendsFriday, 21 May 2010 ITC Limited announced that the Board of Directors of the Company at its meeting held on May 21, 2010, has recommended a special Centenary dividend of INR5.50 per ordinary share of INR1 each and a dividend of INR4.50 per ordinary share for the financial year ended March 31, 2010. The dividend, if declared, will be paid on or after July 26, 2010 to those members entitled thereto. ITC Limited Gets Holding Of EIH From Subsidiary-Times of IndiaTuesday, 6 Apr 2010 The Times of India reported that ITC Limited's subsidiary Russell Credit has transferred the 14.98% stake it held in hospitality major EIH to ITC Limited in an off-market deal. ITC Limited Plans To Open 25 Fortune Brand Hotels In India In Next 12 To 18 Months-DJWednesday, 24 Mar 2010 Dow Jones reported that ITC Limited plans to open 25 hotels across India in the next twelve to eighteen months under its flagship Fortune brand. ITC Limited Weighing Options On EIH Limited Stake-ReutersThursday, 26 Nov 2009 Reuters reported that, according to newspapers, ITC Limited is open to raising its holding in EIH Limited, citing its Chairman. ITC, which owns nearly 15% of EIH, is exploring options including making a counter offer after local media reported last month investor Analjit Singh, who holds 4.32% in EIH, planned to buy another 17%. The Company was exploring several options including raising its stake to 25%, just 1% shy of the level that will give it the power to veto board resolutions. For this, ITC will have to make an open offer for acquiring an additional 20%, the newspaper said. The founding family of EIH is in talks to sell a part of its stake to Singh. The Oberoi family owns about 43% of EIH. ITC Limited's ITC Infotech Introduces New Solution For Media And Entertainment Industry
Thursday, 6 Aug 2009 ITC Infotech, a fully owned subsidiary of ITC Limited announced that it has introduced a solution for the Media and Entertainment Industry, aimed at enhancing the value proposition of companies operating in this space. Metatag+(c) is ITC Infotech's solution and platform independent framework for metadata collaboration across the enterprise. Metatag+ provides a suite of tools to create, organize, search metadata and associate them with related assets in an organization. ITC Infotech also complements this solution with a diagnostic consulting approach around Information Architecture Modeling to enhance findability of assets and related metadata. ITC Limited Plans To Set Up New Paper Plant-ReutersFriday, 24 Jul 2009 Reuters reported that ITC Limited is in talks with three state governments to set up a paper plant with a capacity of about half a million tonnes at an estimated cost of INR40-INR50 billion. The Company said it was in talks with the governments of Gujarat, Andhra Pradesh and Madhya Pradesh for land for the project. ITC Limited Recommends DividendFriday, 22 May 2009 ITC Limited announced that it has recommended a dividend of INR 3.70 per ordinary share of INR 1 each for the financial year ended March 31, 2009. ITC Limited's ITC Infotech Acquires Pyxis Solutions, LLCTuesday, 19 Aug 2008 ITC Limited announced that the Company have been advised by ITC Infotech India Ltd (I3L, a wholly owned subsidiary of the Company), vide their letter dated August 18, 2008, that ITC Infotech (USA), Inc. (I2A, a wholly owned subsidiary of I3L) have acquired the entire Membership Interest of Pyxis Solutions, LLC, a New York limited liability Company, on August 11, 2008. The Board of Directors of I2A at its meeting held on August 18, 2008 have taken on record that consequent to the aforesaid acquisition Pyxis became a wholly owned subsidiary of I2A. Accordingly, Pyxis also became a wholly owned subsidiary of the Company. ITC Limited Announces Allotment Of Shares Under ESOSMonday, 18 Aug 2008 ITC Limited announced that it has issued and allotted 3,86,660 ordinary shares of INR1 each, upon exercise of 38,666 options by optionees under the Company's Employee Stock Option Scheme (ESOS). ITC Limited's ITC Infotech To Announce US Tech Company Buy-DJThursday, 14 Aug 2008 Dow Jones reported that ITC Infotech, a unit of ITC Limited announces the acquisition of a U.S.-based information technology company. Terms of the transaction were not disclosed. ITC Limited Plans To Buy U.S. IT Firm-ReutersWednesday, 30 Jul 2008 Reuters reported that ITC Limited plans to acquire a U.S.-based information technology firm. Terms of the transaction were not disclosed. ITC Limited Recommends DividendFriday, 23 May 2008 ITC Limited announced that Board of Directors of the Company has recommended a dividend of INR 3.50 per ordinary share of INR 1 each for the financial year ended March 31, 2008. ITC Limited Eyes Parle Confectionery Business-ReutersWednesday, 14 Nov 2007 Reuters reported that ITC Limited has approached Parle Products to buy out its confectionery business. The details were not disclosed. ITC Limited's Russell Credit Ltd Announces Acquisition Of Technico Pty LtdFriday, 17 Aug 2007 ITC Limited announced that upon acquisition of the entire share capital of Technico Pty Ltd, Australia, by Russell Credit Ltd, a wholly owned subsidiary of the Company, on August 17, 2007, Technico Pty Ltd, Australia and Technico Pty Ltd's subsidiaries including Technico ISC Pty Ltd, Technico Asia Holdings Pty Ltd, Chambal Agritech Ltd, Technico Group America Inc, Technico Technologies Inc and Technico Horticultural (Kunming) Co. Ltd. have become wholly owned subsidiaries of Russell Credit Ltd and therefore wholly owned subsidiaries of the Company. The terms of the transaction were not disclosed. ITC Limited Board Declares DividendTuesday, 14 Aug 2007 ITC Limited announced that it has declared a dividend at the rate of INR3.10 per ordinary share on fully paid ordinary share of INR1 each. ITC Limited Recommends DividendFriday, 25 May 2007 ITC Limited announced that it has recommended a dividend of INR3.10 per Ordinary Share of INR1 each for the financial year ended March 31, 2007. ITC Limited To Bid For UK's Patak Brand-ReutersThursday, 15 Mar 2007 Reuters reported that ITC Ltd.'s foods unit is likely to bid for Britain's Patak's, valued at about 200 million pounds ($387 million). Patak's, a 50-year-old family-owned company, makes a range of ready-to-eat Indian foods, cooking sauces, snacks, spices and pickles, and also supplies to shops and restaurants worldwide. ITC Limited Signs MOU with State Government Of RajasthanMonday, 12 Mar 2007 ITC Limited announced that it has signed an Memorandum of Understanding (MoU) with the State Government of Rajasthan for an integrated watershed development project in Bhilwara district. The project has been sanctioned under the Integrated Wasteland Development Project of the Government of India. The MoU was signed between the Company and the Government of Rajasthan at a function presided over by Rural Development and Panchayati Raj Minister of the State, Shri Kalu Lala Gurjar. As per the MoU, 5,000 hectares of land will be treated over a period of five years. A detailed project report will be prepared to derive the actual cost of treatment with special focus on addressing the livelihood needs of the community. This is a public-private initiative in the area of watershed development in the country. ITC Limited To Build Hotels In Bangalore And Chennai – DJWednesday, 29 Nov 2006 Dow Jones reported that ITC Limited plans to build five new hotels in the southern cities of Bangalore and Chennai. Construction of these hotels would start as soon as ITC gets all requisite approvals. While one of the proposed hotels will be under ITC's budget hotel brand Fortune, the remaining four will be under the ITC brand. Hindustan Lever Limited And ITC Limated To Enter Into Joint Venture With Railways - The Economic TimesWednesday, 22 Nov 2006 The Economic Times announced that Hindustan Lever Limited and ITC Limated are in talks with the Indian Railways to forge independent JVs with it for setting up warehouses at the surplus land around railway stations, guaranteeing a certain freight traffic to the railways in return. The railways will set up SPVs which will enter into joint ventures with FMCG majors as well as other companies. ITC Limited Appoints Auditors; Announces DividendThursday, 3 Aug 2006 ITC Limited announced that it has appointed Messrs A F Ferguson & Co., Chartered Accountants, as the auditors of the Company to hold office until the conclusion of the next annual general meeting. The Company also declared a dividend at the rate of INR2.65 per ordinary share on ordinary share of INR1each, for the financial year ended March 31, 2006. ITC Limited Recommends DividendFriday, 26 May 2006 ITC Limited anounced that the BODs of the company has recommended a dividend of Rs.2.65 per ordinary share of INR.1 each for the F.Y. ended March 31,2006 and the dividend, if declared, will be paid on or after July 24,2006 to those members entitled thereto. ITC Limited's Russell Credit Limited Announces Ownership Interest in Wimco LimitedWednesday, 5 Oct 2005 Russell Credit Limited, a subsidiary of ITC Limited, announced that it has acquired 10,40,000 fully paid-up equity shares aggregating to 2% of the paid up capital of Wimco Limited. The shareholding of Russell after the said acquisition is 39,522,281 shares aggregating to 76% of the total paid up capital of Wimco. ITC Limited's Infotech Partners With NASSCOMWednesday, 10 Aug 2005 ITC Limited's Infotech is partnering NASSCOM in launching the IT Workforce Development initiative in the Eastern Region.
(For more detail please visit http://www.itcportal.com/)
No comments:
Post a Comment