ITC Ltd
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BSE Code:
500875
NSE Code:
ITC
Business Profile
Business Profile
ITC (ITC) is the largest private sector cigarette company with a diversified portfolio comprising hotels, paperboards & specialty papers, packaging, agri-business, packaged foods and confectionery, branded apparel, greeting cards and other FMCG products. ITC is the market leader in its businesses of cigarettes, hotels, paperboards, packaging and agri-exports.
ITC`s diversified status originates from its corporate strategy aimed at creating multiple drivers of growth anchored on its time-tested core competencies i.e., its distribution reach, brand-building capabilities, effective supply chain management and service skills in hoteliering. ITC`s agri-business is one of the country`s biggest FOREX earners with exports of over USD 2 billion. The company`s e-Choupal initiative has also proved to be successful exercise evolved around empowering the farmer. 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.
It has entered into retailing of apparels leveraging its trademark brands such as Wills, Wills Classic and John Player. ITC`s hotels business comprises 40 owned and managed properties spread across India. It also has marketing and reservation arrangement with the Sheraton Corporation, the reputed international hotel chain.
ITC is planning to invest around USD 1 billion in strengthening its e-Choupal infrastructure in the next 7-10 years. The company also plans foray into the denim wear for expansion of its apparel business. Further, it has plans of Rs 25,000 million investment in contract farming in Punjab. This will mark the company`s entry in agri-retail in the near future.
Financials
The company reported a small rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 8.73% to Rs 9,032.10 million from Rs 8,307.20 million in the same quarter previous year. Net sales for the quarter rose 11.59% to Rs 38,586.50 million, while total income for the quarter rose 10.04% to Rs 39,562.10 million, when compared with the prior year period. It reported earnings of Rs 2.40 a share during the quarter, registering 8.60% growth over previous year period.
Recent Developments
16-OCT-08
ITC Infotech, a global IT services company and a fully owned subsidiary of the company inked a partnership agreement with ADAM Software, a leading Digital Asset Management company, reports Economic Times.