ITC’s MD and chairman Sanjiv Puri said there has been no adverse impact of global issues such as supply chain disruptions, inflation and climate crisis on the conglomerate. However, El Nino continues to be a key monitorable.
The non-cigarette business accounted for 28 percent of the overall segment’s earnings before interest, taxes, depreciation, and amortization (EBITDA). “The non-cigarette businesses today account for 67 percent of revenue and 28 percent of the segment EBITDA,” Puri said.
He also said the conglomerate commissioned five factories and one hotel and it was making investments in four more facilities.
Gearing up to take ITC Master Chef to other markets after successful pilot in Bengaluru. “Having established the product market fit successfully in Bengaluru with three brands — ITC Master Chef creations, ITC Aashirwad soul creations and ITC Sunfeast baked creations — delivered through 19 kitchens, we aare now gearing up to take the offerings to other cities,” Puri said.
The ITC MD and chairman said the conglomerate continues to strengthen its cigarette business. Deterrent government policies and relatively stable taxation has helped gain volumes back, he said.
Puri said the addressable market of ITC’s FMCG portfolio is estimated to be Rs 5 lakh crore.
On ITC’s demerger of its hotels business, Puri said the conglomerate’s continued interest in ITC Hotels will provide long term stability and instill a sense of assurance among partners and investors.
ITC’s interest in ITC Hotels will also allow the new entity to leverage the conglomerate’s institutional strengths, Puri said.
The reorganisation will sharpen ITC’s capital allocation, improve asset efficiency ratios and also unlock shareholder value, the ITC MD and chairman said. Shares of ITC were trading around 1.3 percent lower around 12.45pm.