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ITC Ltd. is set to invest ₹20,000 crore over the next five years, with a significant portion earmarked for its non-cigarette FMCG business. Chairman Sanjiv Puri emphasized the company's unwavering confidence in India's market potential during their annual general meeting. Puri detailed that 35-40% of the investment will boost the non-cigarette FMCG sector, while a substantial part will enhance the Paperboards & Packaging division. The remainder will support other ventures, including Agri and traditional businesses.

The non-cigarette FMCG investment will expand Consumer Goods Manufacturing and Logistics facilities, improve product quality, and foster innovation. A new brand, "Rightshift," targeting consumers over 40, will be launched, featuring natural food products developed at ITC’s Life Sciences and Technology Centre in Bengaluru. Additionally, ITC is exploring exports and strategic international market presences through local manufacturing and brand building.

For Paperboards & Packaging, ITC plans a greenfield project to supplement the saturated Bhadrachalam unit. Meanwhile, the demerger of ITC's hotel business into a separate entity, ITC Hotels, is on track, with completion expected in a few months. This move aligns with the asset-right strategy to focus on proximal markets and expand ITC Hotels' footprint to over 200 properties.

ITC Infotech, the company's wholly-owned subsidiary, continues its global expansion through strategic partnerships, positioning itself as a future growth engine similar to the FMCG business. While there are no immediate plans for an IPO, Puri mentioned it remains a possibility in the future.

News by Rahul Yelligetti