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ITC Limited

ITC Limited is an Indian Multinational conglomerate company headquartered in Kolkata.[8] ITC has a diversified presence across industries such as FMCG, hotels, software, packaging, paperboards, specialty papers and agribusiness.[9] The company has 13 businesses in 5 segments. It exports its products in 90 countries. Its products are available in 6 million retail outlets.[10][4]

ITC Limited
FormerlyImperial Tobacco Company of India Limited (1910–1970)
India Tobacco Company Limited (1970–1974)
I.T.C. Limited (1974–2001)
ITC Limited (2001–present)
TypePublic
ISININE154A01025
IndustryConglomerate[1]
PredecessorW.D. & H.O. Wills
Founded24 August 1910; 113 years ago (1910-08-24)[2]
Headquarters
Virginia House, Kolkata,
West Bengal
,
India
Area served
Key people
Sanjiv Puri
(Chairman & MD)[3]
Products
Brands
Revenue 78,498.70 crore (US$9.8 billion) (2023)
25,793.21 crore (US$3.2 billion) (2023)
19,427.68 crore (US$2.4 billion) (2023)
Total assets 85,882.98 crore (US$11 billion) (2023)
Total equity 69,538.79 crore (US$8.7 billion) (2023)
Number of employees
36,500 (2021)
DivisionsITC Hotels
ITC Paperboards and Specialty Papers Division
ITC Infotech
Sunrise Foods
Websitewww.itcportal.com
Footnotes / references
[4][5][6][7]

On 17 April 2023, its market cap crossed the milestone of 500,000 crore (US$63 billion) for the first time in company's history, followed by crossing the 600,000 crore (US$75 billion) mark on 20 July 2023 and becoming the biggest FMCG Company in India passing the Hindustan Unilever's market cap the very next day.[11][12] It employs 36,500 people at more than 60 locations across India.[better source needed]

History edit

Tobacco business and early years edit

"ITC Limited" was originally named "Imperial Tobacco Company of India Limited", succeeding Imperial Brands and W.D. & H.O. Wills on 24 August 1910 as a British-owned company registered in Kolkata.[13][14] Since the company was primarily based on agricultural resources, it ventured into partnerships in 1911 with farmers from the southern part of India to source leaf tobacco.[citation needed] Under the company's umbrella, the "Indian Leaf Tobacco Development Company Limited" was formed in Guntur district of Andhra Pradesh in 1912.[15] The first cigarette factory of the company was set up in 1913 in Bangalore.[citation needed]

In 1928, construction began for the company's headquarters, the 'Virginia House' at Calcutta.[16] ITC acquired Carreras Tobacco Company's factory at Kidderpore in 1935 to further strengthen its presence.[citation needed] ITC helped set up an indigenous cigarette tissue-paper-making plant in 1946 to reduce import costs significantly. Then, a factory for printing and packaging was set up in Madras in 1949.[citation needed] The company acquired the manufacturing business of Tobacco Manufacturers (India) Limited and the complementary lithographic printing business of Printers (India) Limited in 1953.[17]

Name edit

Established in 1910 as the Imperial Tobacco Company of India Limited, the company was renamed as the India Tobacco Company Limited in 1970 and later to I.T.C. Limited in 1974. The company now stands renamed ITC Limited, where "ITC" today is no longer an acronym.[18][19]

Shareholding and listings edit

ITC's equity shares are listed on Bombay Stock Exchange (BSE), National Stock Exchange of India (NSE) and Calcutta Stock Exchange (CSE).[20] The company's Global Depository Receipts (GDRs) are listed on the Luxembourg Stock Exchange. ITC is a constituent of two major stock market indices of India: BSE SENSEX and NIFTY 50 of NSE.[21]

In July 2023, ITC Ltd.'s board of directors approved in principle the demerger of its hotel business and the formation of a wholly owned subsidiary called ITC Hotels.[22][23]

Shareholders (as on 31 March 2020) Shareholding
Financial Institutions 42.41%
FIIs and FPIs 14.63%
Foreign Companies 29.47%
NRI's, OCIs, and Foreign Nationals 0.69%
Body Corporates 1.03%
Public and others 11.65%
Share underlying Global Depository Receipts 0.12%
Total 100.0%

Employees edit

As per the Annual report of the company, it had 28000+ employees as on 31 March 2020.[24] It spent 2,145 crores on Employee benefits during the FY 2012–13. During the same year, its attrition rate was 12%.[24]

ITC's Chairman Yogesh Chandra Deveshwar (d. 2019) won renowned awards and recognition including Padma Bhushan from Govt. of India 2005–09, by Boston Consulting Group and seventh-best-performing CEO in the world by Harvard Business Review.[24][25]

Meera Shankar, Indian ambassador to the USA between 2009 and 2011, joined the board of ITC Limited in 2012 as the first woman director in its history.[26] She is an additional non-executive director of the company.[27]

See also edit

References edit

  1. ^ "ITC – History and Evolution". www.itcportal.com. Retrieved 25 September 2022.
  2. ^ "ITC - History and Evolution". www.itcportal.com. Retrieved 25 September 2022.
  3. ^ "ITC Leadership – Rishita Das, Chairman & Managing Director". www.itcportal.com. Retrieved 25 September 2022.
  4. ^ a b "Company Profile". Reuters. Retrieved 16 November 2021. ITC Limited is a holding company, which is engaged in the marketing of fast moving consumer goods (FMGC).
  5. ^ "Company History – ITC Ltd". Economic Times. Retrieved 15 September 2013.
  6. ^ "History and Evolution". ITC Limited. Retrieved 14 September 2013.
  7. ^ "The ITC Network: Registered Office". ITC Ltd. Retrieved 14 June 2014.
  8. ^ "ITC – History and Evolution". www.itcportal.com. Retrieved 25 September 2018.
  9. ^ "About ITC Limited - one of India's foremost private sector companies". www.itcportal.com. Retrieved 25 September 2022.
  10. ^ "Company's Annual Report 2019–20" (PDF).
  11. ^ "Top 100 stocks by Market Capitalization | BSE Listed stocks Market Capitalization". www.bseindia.com. Retrieved 19 December 2022.
  12. ^ "ITC surpasses 6 lalh crore mcap mark".
  13. ^ "ITC Ltd". Business Standard India.
  14. ^ "ITC History | ITC Information – The Economic Times". economictimes.indiatimes.com. Retrieved 26 September 2018.
  15. ^ Maat, Harro; Hazareesingh, Sandip (26 January 2016). Local Subversions of Colonial Cultures: Commodities and Anti-Commodities in Global History. Springer. ISBN 978-1-137-38110-1.
  16. ^ "Business Studies Project 10 | Companies | Business". Scribd. Retrieved 27 March 2020.
  17. ^ Cases in Financial Management. Tata McGraw-Hill Education. 1 August 2000. ISBN 978-0-07-463805-7.
  18. ^ Citations:
    • "ITC – History and Evolution". www.itcportal.com. Retrieved 30 April 2020.
    • Chinki Sinha (11 August 2017). "Remade for India: India Tobacco Company's journey from modest to multi-business enterprise". India Today. Retrieved 30 April 2020.
    • "ITC Ltd". Business Standard India. Retrieved 30 April 2020.
    • "Brand ITC: Corporate India's Century-Old Success Story". Next Big Brand. 29 March 2019. Retrieved 30 April 2020.
  19. ^ Himatsingka, Rakhi Mazumdar & Anuradha. "ITC: Leading Multi-business conglomerate turns 100". The Economic Times. Retrieved 27 December 2021.
  20. ^ "ITC share price jumps 4% despite missing Q4 profit estimate; here's why investors are buying stock". The Financial Express. 29 June 2020.
    "Listing Information – ITC". Economic Times. Retrieved 15 September 2013.
    "ITC Institutional Ownership – ITC LTD. Stock". fintel.io.
  21. ^ Aparna Deb (20 May 2020). "Sensex rises 114 points; Nifty settles above 9,100 mark; ITC rallies 7%". www.timesnownews.com. Retrieved 25 May 2020.
  22. ^ "The ITC board of directors approves the demerger of the hotel company in principle; the stock drops more than 4%". Bru Times News.
  23. ^ Agarwal, Nikhil (24 July 2023). "ITC board approves demerger of hotels business, share price drops 4%". The Economic Times.
  24. ^ a b c "Company Annual report 2019–20" (PDF). itcportal.com. Retrieved 27 March 2020.
  25. ^ Hansen, Morten T.; Ibarra, Herminia; Peyer, Urs (1 January 2013). "The Best-Performing CEOs in the World". Harvard Business Review. No. January–February 2013. ISSN 0017-8012. Retrieved 27 March 2020.
  26. ^ 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.
  27. ^ Mukherjee, Writankar (4 August 2012). "ITC inducts Meera Shankar in its board as the first women ever". The Economic Times. Retrieved 25 May 2020.

Further reading edit

  • Cox, Howard. "International business, the state and industrialisation in India: Early growth in the Indian cigarette industry, 1900-19." Indian Economic & Social History Review 27.3 (1990): 289-312.
  • Roy, Anoushka. "ITC Vs Godfrey Phillips India – A Comparison of the Two Tobacco Giants" Trade Brains (March 9, 2022) online

External links edit

  • Official website

limited, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, contains, content, that, written, like, advertisement, please, help, improve, removing, promotio. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article contains content that is written like an advertisement Please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view November 2021 Learn how and when to remove this template message This article may rely excessively on sources too closely associated with the subject potentially preventing the article from being verifiable and neutral Please help improve it by replacing them with more appropriate citations to reliable independent third party sources November 2021 Learn how and when to remove this template message A major contributor to this article appears to have a close connection with its subject It may require cleanup to comply with Wikipedia s content policies particularly neutral point of view Please discuss further on the talk page August 2019 Learn how and when to remove this template message Learn how and when to remove this template message ITC Limited is an Indian Multinational conglomerate company headquartered in Kolkata 8 ITC has a diversified presence across industries such as FMCG hotels software packaging paperboards specialty papers and agribusiness 9 The company has 13 businesses in 5 segments It exports its products in 90 countries Its products are available in 6 million retail outlets 10 4 ITC LimitedFormerlyImperial Tobacco Company of India Limited 1910 1970 India Tobacco Company Limited 1970 1974 I T C Limited 1974 2001 ITC Limited 2001 present TypePublicTraded asBSE 500875NSE ITCBSE SENSEX constituentNSE NIFTY 50 constituentISININE154A01025IndustryConglomerate 1 PredecessorW D amp H O WillsFounded24 August 1910 113 years ago 1910 08 24 2 HeadquartersVirginia House Kolkata West Bengal IndiaArea servedIndian subcontinentGulf countriesKey peopleSanjiv Puri Chairman amp MD 3 ProductsConsumer goodsApparelEducationHotels and ResortsPaperboards amp Specialty papersPackagingAgribusinessInformation technologyCigarettesBrandsGold FlakeWills Navy CutClassicAashirvaadFiama Di WillsSavlonClassmateDark FantasyRevenue 78 498 70 crore US 9 8 billion 2023 Operating income 25 793 21 crore US 3 2 billion 2023 Net income 19 427 68 crore US 2 4 billion 2023 Total assets 85 882 98 crore US 11 billion 2023 Total equity 69 538 79 crore US 8 7 billion 2023 Number of employees36 500 2021 DivisionsITC Hotels ITC Paperboards and Specialty Papers Division ITC Infotech Sunrise FoodsWebsitewww wbr itcportal wbr comFootnotes references 4 5 6 7 On 17 April 2023 its market cap crossed the milestone of 500 000 crore US 63 billion for the first time in company s history followed by crossing the 600 000 crore US 75 billion mark on 20 July 2023 and becoming the biggest FMCG Company in India passing the Hindustan Unilever s market cap the very next day 11 12 It employs 36 500 people at more than 60 locations across India better source needed Contents 1 History 1 1 Tobacco business and early years 2 Name 3 Shareholding and listings 4 Employees 5 See also 6 References 7 Further reading 8 External linksHistory editTobacco business and early years edit ITC Limited was originally named Imperial Tobacco Company of India Limited succeeding Imperial Brands and W D amp H O Wills on 24 August 1910 as a British owned company registered in Kolkata 13 14 Since the company was primarily based on agricultural resources it ventured into partnerships in 1911 with farmers from the southern part of India to source leaf tobacco citation needed Under the company s umbrella the Indian Leaf Tobacco Development Company Limited was formed in Guntur district of Andhra Pradesh in 1912 15 The first cigarette factory of the company was set up in 1913 in Bangalore citation needed In 1928 construction began for the company s headquarters the Virginia House at Calcutta 16 ITC acquired Carreras Tobacco Company s factory at Kidderpore in 1935 to further strengthen its presence citation needed ITC helped set up an indigenous cigarette tissue paper making plant in 1946 to reduce import costs significantly Then a factory for printing and packaging was set up in Madras in 1949 citation needed The company acquired the manufacturing business of Tobacco Manufacturers India Limited and the complementary lithographic printing business of Printers India Limited in 1953 17 Name editEstablished in 1910 as the Imperial Tobacco Company of India Limited the company was renamed as the India Tobacco Company Limited in 1970 and later to I T C Limited in 1974 The company now stands renamed ITC Limited where ITC today is no longer an acronym 18 19 Shareholding and listings editITC s equity shares are listed on Bombay Stock Exchange BSE National Stock Exchange of India NSE and Calcutta Stock Exchange CSE 20 The company s Global Depository Receipts GDRs are listed on the Luxembourg Stock Exchange ITC is a constituent of two major stock market indices of India BSE SENSEX and NIFTY 50 of NSE 21 In July 2023 ITC Ltd s board of directors approved in principle the demerger of its hotel business and the formation of a wholly owned subsidiary called ITC Hotels 22 23 Shareholders as on 31 March 2020 ShareholdingFinancial Institutions 42 41 FIIs and FPIs 14 63 Foreign Companies 29 47 NRI s OCIs and Foreign Nationals 0 69 Body Corporates 1 03 Public and others 11 65 Share underlying Global Depository Receipts 0 12 Total 100 0 Employees editAs per the Annual report of the company it had 28000 employees as on 31 March 2020 24 It spent 2 145 crores on Employee benefits during the FY 2012 13 During the same year its attrition rate was 12 24 ITC s Chairman Yogesh Chandra Deveshwar d 2019 won renowned awards and recognition including Padma Bhushan from Govt of India 2005 09 by Boston Consulting Group and seventh best performing CEO in the world by Harvard Business Review 24 25 Meera Shankar Indian ambassador to the USA between 2009 and 2011 joined the board of ITC Limited in 2012 as the first woman director in its history 26 She is an additional non executive director of the company 27 See also editSmoking in India Godfrey Phillips India the second largest tobacco company Smoking in BollywoodReferences editPortal nbsp Companies ITC History and Evolution www itcportal com Retrieved 25 September 2022 ITC History and Evolution www itcportal com Retrieved 25 September 2022 ITC Leadership Rishita Das Chairman amp Managing Director www itcportal com Retrieved 25 September 2022 a b Company Profile Reuters Retrieved 16 November 2021 ITC Limited is a holding company which is engaged in the marketing of fast moving consumer goods FMGC 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 ITC History and Evolution www itcportal com Retrieved 25 September 2018 About ITC Limited one of India s foremost private sector companies www itcportal com Retrieved 25 September 2022 Company s Annual Report 2019 20 PDF Top 100 stocks by Market Capitalization BSE Listed stocks Market Capitalization www bseindia com Retrieved 19 December 2022 ITC surpasses 6 lalh crore mcap mark ITC Ltd Business Standard India ITC History ITC Information The Economic Times economictimes indiatimes com Retrieved 26 September 2018 Maat Harro Hazareesingh Sandip 26 January 2016 Local Subversions of Colonial Cultures Commodities and Anti Commodities in Global History Springer ISBN 978 1 137 38110 1 Business Studies Project 10 Companies Business Scribd Retrieved 27 March 2020 Cases in Financial Management Tata McGraw Hill Education 1 August 2000 ISBN 978 0 07 463805 7 Citations ITC History and Evolution www itcportal com Retrieved 30 April 2020 Chinki Sinha 11 August 2017 Remade for India India Tobacco Company s journey from modest to multi business enterprise India Today Retrieved 30 April 2020 ITC Ltd Business Standard India Retrieved 30 April 2020 Brand ITC Corporate India s Century Old Success Story Next Big Brand 29 March 2019 Retrieved 30 April 2020 Himatsingka Rakhi Mazumdar amp Anuradha ITC Leading Multi business conglomerate turns 100 The Economic Times Retrieved 27 December 2021 ITC share price jumps 4 despite missing Q4 profit estimate here s why investors are buying stock The Financial Express 29 June 2020 Listing Information ITC Economic Times Retrieved 15 September 2013 ITC Institutional Ownership ITC LTD Stock fintel io Aparna Deb 20 May 2020 Sensex rises 114 points Nifty settles above 9 100 mark ITC rallies 7 www timesnownews com Retrieved 25 May 2020 The ITC board of directors approves the demerger of the hotel company in principle the stock drops more than 4 Bru Times News Agarwal Nikhil 24 July 2023 ITC board approves demerger of hotels business share price drops 4 The Economic Times a b c Company Annual report 2019 20 PDF itcportal com Retrieved 27 March 2020 Hansen Morten T Ibarra Herminia Peyer Urs 1 January 2013 The Best Performing CEOs in the World Harvard Business Review No January February 2013 ISSN 0017 8012 Retrieved 27 March 2020 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 Mukherjee Writankar 4 August 2012 ITC inducts Meera Shankar in its board as the first women ever The Economic Times Retrieved 25 May 2020 Further reading editCox Howard International business the state and industrialisation in India Early growth in the Indian cigarette industry 1900 19 Indian Economic amp Social History Review 27 3 1990 289 312 Roy Anoushka ITC Vs Godfrey Phillips India A Comparison of the Two Tobacco Giants Trade Brains March 9 2022 onlineExternal links editOfficial website Retrieved from https en wikipedia org w index php title ITC Limited amp oldid 1188908823, wikipedia, wiki, book, books, library,

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