2405:205:C8C7:7A32:7CB5:754D:4D51:8CC6 at 17:41, 30 September 2023

2023-09-30T17:41:48Z

New page

{{Short description| Imperial Tobacco company}}
{{multiple issues|
{{advert|date=November 2021}}
{{third-party|date=November 2021}}
{{COI|date=August 2019}}
{{EngvarB|date=April 2020}}
}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
| name = ITC Limited
| logo = ITC Limited Logo.svg
| logo_size =
| logo_alt = ITC Logo
| logo_caption =
| image =
| image_caption =
| former_name = Imperial Tobacco Company of India Limited (1910–1970) India Tobacco Company Limited (1970–1974) I.T.C. Limited (1974–2001)
 ITC Limited (2001–present)
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|500875}}|{{NSE|ITC}}|[[BSE SENSEX|BSE SENSEX constituent]]|[[NIFTY 50|NSE NIFTY 50 constituent]]}}
| ISIN = INE154A01025
| industry = [[Conglomerate (company)|Conglomerate]]<ref>{{Cite web |title=ITC – History and Evolution |url=https://www.itcportal.com/about-itc/huy.aspx |access-date=2022-09-25 |website=www.itcportal.com}}</ref>
| predecessor = [[W.D. & H.O. Wills]]
| foundation = {{Start date and age|df=y|1910|8|24}}<ref>{{Cite web |title=ITC - History and Evolution |url=https://www.itcportal.com/about-itc/profile/history-and-evolution.aspx |access-date=2022-09-25 |website=www.itcportal.com}}</ref>
| location_city = Virginia House, Kolkata, West Bengal
| location_country = India
| key_people = Sanjiv Puri {{small|(Chairman & MD)}}<ref>{{Cite web |title=ITC Leadership – Rishita Das, Chairman & Managing Director |url=https://www.itcportal.com/about-itc/leadership/board-of-directors/sanjiv-puri.aspx |access-date=2022-09-25 |website=www.itcportal.com}}</ref>
| products = {{hlist| [[Fast-moving consumer goods|Consumer goods]] |[[Apparel]] |[[Education]]|[[Hotels]] and [[Resorts]]|[[Paperboard]]s & [[Paper|Specialty papers]] |[[Packaging and labeling|Packaging]]|[[Agribusiness]]|[[Information technology]] | [[Cigarettes]]}}
| revenue = {{increase}} {{INRConvert|78498.70|c}} (2023)
| operating_income = {{increase}} {{INRConvert|25793.21|c}} (2023)
| net_income = {{increase}} {{INRConvert|19427.68|c}} (2023)
| assets = {{increase}} {{INRConvert|85882.98|c}} (2023)
| equity = {{increase}} {{INRConvert|69538.79|c}} (2023)
| num_employees = 36,500 (2021)
| divisions = [[ITC Hotels]] ITC Paperboards and Specialty Papers Division ITC Infotech Sunrise Foods
| brands = {{hlist |[[Gold Flake]]|[[Wills Navy Cut]]|[[Classic (cigarette)|Classic]]|[[Aashirvaad]]|[[Fiama Di Wills]]|[[Savlon]]|[[Classmate (stationery)|Classmate]]|[[Dark Fantasy]]}}
| area_served = {{ubl|[[Indian subcontinent]]|[[Arab states of the Persian Gulf|Gulf countries]]}}
| homepage = {{official URL}}
| footnotes = <ref name="fy2018">{{cite web|url=https://www.reuters.com/companies/ITC.NS|title=Company Profile|publisher=[[Reuters]]|access-date=16 November 2021|quote=ITC Limited is a holding company, which is engaged in the marketing of fast moving consumer goods (FMGC).}}</ref><ref name=HistoryET>{{cite news |url=http://economictimes.indiatimes.com/itc-ltd/infocompanyhistory/companyid-13554.cms |title=Company History – ITC Ltd. |publisher=Economic Times |access-date=15 September 2013}}</ref><ref name=History>{{cite web |url=http://www.itcportal.com/about-itc/profile/history-and-evolution.aspx |title=History and Evolution |publisher=ITC Limited |access-date=14 September 2013}}</ref><ref name = 'Headquarters'>{{cite web|url=http://www.itcportal.com/itc-address/corp.aspx|title=The ITC Network: Registered Office | publisher=ITC Ltd. | access-date=14 June 2014}}</ref>
}}
'''ITC Limited''' is an Indian [[conglomerate company]] headquartered in [[Kolkata]].<ref>{{Cite web|url=https://www.itcportal.com/about-itc/profile/history-and-evolution.aspx|title=ITC – History and Evolution|website=www.itcportal.com|access-date=25 September 2018}}</ref> ITC has a diversified presence across industries such as [[Fast-moving consumer goods|FMCG]], [[hotel]]s, [[software]], [[Packaging and labeling|packaging]], [[paperboard]]s, specialty papers and [[agribusiness]].<ref>{{Cite web |title=About ITC Limited - one of India's foremost private sector companies |url=https://www.itcportal.com/about-itc/index.aspx |access-date=2022-09-25 |website=www.itcportal.com}}</ref> The company has 13 businesses in 5 segments. It exports its products in 90 countries. Its products are available in 6 million retail outlets.<ref>{{Cite web|title=Company's Annual Report 2019–20|url=https://www.itcportal.com/about-itc/shareholder-value/annual-reports/itc-annual-report-2020/pdf/ITC-Report-and-Accounts-2020.pdf}}</ref><ref name="fy2018"/>

On 17 April 2023, its market cap crossed the milestone of {{INRconvert|500000|c}} for the first time in company's history, followed by crossing the {{INRConvert|600000|c}} mark on 20 July 2023 and becoming the biggest [[FMCG in India|FMCG]] Company in India passing the [[Hindustan Unilever]]'s market cap the very next day.<ref>{{Cite web |title=Top 100 stocks by Market Capitalization {{!}} BSE Listed stocks Market Capitalization |url=https://www.bseindia.com/markets/equity/eqreports/topmarketcapitalization.aspx |access-date=2022-12-19 |website=www.bseindia.com}}</ref><ref>{{cite web|title=ITC surpasses 6 lalh crore mcap mark|url=https://www.cnbctv18.com/business/companies/itc-share-price-market-cap-crosses-6-lakh-crore-second-best-performer-on-nifty-50-17275031.htm}}</ref> It employs 36,500 people at more than 60 locations across India.{{better source needed|date=November 2021}}

==History==

===Tobacco business and early years===
"ITC Limited" was originally named "Imperial Tobacco Company of India Limited", succeeding [[W.D. & H.O. Wills]] on 24 August 1910 as a British-owned company registered in [[Kolkata]].<ref name="Complete history has submitted">{{cite news |title=ITC Ltd. |url=https://www.business-standard.com/company/itc-301/information/company-history |work=Business Standard India}}</ref><ref>{{Cite web|url=https://economictimes.indiatimes.com/itc-ltd/infocompanyhistory/companyid-13554.cms|title=ITC History {{!}} ITC Information – The Economic Times|website=economictimes.indiatimes.com|access-date=26 September 2018}}</ref> 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|date=March 2020
}} Under the company's umbrella, the "Indian Leaf Tobacco Development Company Limited" was formed in Guntur district of [[Andhra Pradesh]] in 1912.<ref>{{Cite book|last1=Maat|first1=Harro|url=https://books.google.com/books?id=zlneCgAAQBAJ&q=indian+leaf+tobacco+development+company+1912&pg=PA35|title=Local Subversions of Colonial Cultures: Commodities and Anti-Commodities in Global History|last2=Hazareesingh|first2=Sandip|date=26 January 2016|publisher=Springer|isbn=978-1-137-38110-1|language=en}}</ref> The first cigarette factory of the company was set up in 1913 in Bangalore.{{Citation needed|date=March 2020}}

In 1928, construction began for the company's headquarters, the 'Virginia House' at Calcutta.<ref>{{Cite web|url=https://www.scribd.com/presentation/422985551/Business-Studies-Project-10|title=Business Studies Project 10 {{!}} Companies {{!}} Business|website=Scribd|language=en|access-date=27 March 2020}}</ref> ITC acquired [[Carreras Tobacco Company]]'s factory at Kidderpore in 1935 to further strengthen its presence.{{Citation needed|date=March 2020}} 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|date=March 2020}} The company acquired the manufacturing business of Tobacco Manufacturers (India) Limited and the complementary lithographic printing business of Printers (India) Limited in 1953.<ref>{{Cite book|url=https://books.google.com/books?id=k25B27pcRIUC&q=itc+limited+acquired+the+manufacturing+business+of+Tobacco+Manufacturers+%28India%29+Limited+and+the+complementary+lithographic+printing+business+of+Printers+%28India%29+Limited+in+1953&pg=PA306|title=Cases in Financial Management|date=1 August 2000|publisher=Tata McGraw-Hill Education|isbn=978-0-07-463805-7|language=en}}</ref>

==Name==
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]].<ref>Citations:
*{{Cite web|title=ITC – History and Evolution|url=https://www.itcportal.com/about-itc/profile/history-and-evolution.aspx|website=www.itcportal.com|access-date=30 April 2020}}
*{{Cite magazine|title=Remade for India: India Tobacco Company's journey from modest to multi-business enterprise|url=https://www.indiatoday.in/magazine/cover-story/story/20170821-itc-multi-business-enterprise-hotels-hospital-venture-farm-produce-1028892-2017-08-11|author=Chinki Sinha |date=August 11, 2017 |magazine=India Today|language=en|access-date=30 April 2020}}
*{{Cite news|title=ITC Ltd.|work=Business Standard India|url=https://www.business-standard.com/company/itc-301/information/company-history|access-date=30 April 2020}}
*{{Cite web|title=Brand ITC: Corporate India's Century-Old Success Story|url=https://www.nextbigbrand.in/brand-itc-corporate-indias-century-old-success-story/|date=29 March 2019|website=Next Big Brand|language=en-US|access-date=30 April 2020}}</ref><ref>{{Cite news|last=Himatsingka|first=Rakhi Mazumdar & Anuradha|title=ITC: Leading Multi-business conglomerate turns 100|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/cons-products/tobacco/itc-leading-multi-business-conglomerate-turns-100/articleshow/6423526.cms?from=mdr|access-date=2021-12-27}}</ref>

== Shareholding and listings ==
ITC's equity shares are listed on [[Bombay Stock Exchange]] (BSE), [[National Stock Exchange of India]] (NSE) and [[Calcutta Stock Exchange]] (CSE).<ref>{{cite news |title=ITC share price jumps 4% despite missing Q4 profit estimate; here's why investors are buying stock |url=https://www.financialexpress.com/market/itc-limited-stock-price-jumps-weak-marh-quarter-results-cigarette-sales-hit-revenues/2007164/ |work=The Financial Express |date=29 June 2020}} {{cite news |url=http://economictimes.indiatimes.com/itc-ltd/infocompanylisting/companyid-13554.cms |title=Listing Information – ITC |publisher=Economic Times |access-date=15 September 2013}} {{cite web |title=ITC Institutional Ownership – ITC LTD. Stock |url=https://fintel.io/so/in/itc |website=fintel.io |language=en}}</ref> The company's [[Global Depository Receipt]]s (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.<ref>{{cite news |last1=Aparna Deb |title=Sensex rises 114 points; Nifty settles above 9,100 mark; ITC rallies 7% |url=https://www.timesnownews.com/business-economy/markets/article/sensex-rises-114-points-nifty-settles-above-9100-mark-itc-rallies/595156 |access-date=25 May 2020 |work=www.timesnownews.com |date=20 May 2020 |language=en}}</ref>

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.<ref>{{cite web |title=The ITC board of directors approves the demerger of the hotel company in principle; the stock drops more than 4% |url=https://www.brutimes.com/2023/07/The-ITC-board-of-directors-approves-the-demerger-of-the-hotel-company.html |website=Bru Times News |language=en}}</ref><ref>{{cite web |last1=Agarwal |first1=Nikhil |title=ITC board approves demerger of hotels business, share price drops 4% |url=https://economictimes.indiatimes.com/markets/stocks/news/itc-board-approves-demerger-of-hotel-business/articleshow/102075680.cms |website=The Economic Times |date=24 July 2023}}</ref>

{| class="wikitable"
!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==
As per the Annual report of the company, it had 28000+ employees as on 31 March 2020.<ref name=":1">{{Cite web|last=|title=Company Annual report 2019–20|url=https://www.itcportal.com/about-itc/shareholder-value/annual-reports/itc-annual-report-2020/pdf/ITC-Report-and-Accounts-2020.pdf|access-date=27 March 2020|website=itcportal.com}}</ref> It spent {{INR}}2,145 crores on Employee benefits during the FY 2012–13. During the same year, its attrition rate was 12%.<ref name=":1" />

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.<ref name=":1" /><ref>{{Cite news|last1=Hansen|first1=Morten T.|url=https://hbr.org/2013/01/the-best-performing-ceos-in-the-world|title=The Best-Performing CEOs in the World|date=1 January 2013|work=Harvard Business Review|access-date=27 March 2020|last2=Ibarra|first2=Herminia|issue=January–February 2013|issn=0017-8012|last3=Peyer|first3=Urs}}</ref>

[[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.<ref>{{cite news |first=Writankar |last=Mukherjee |url=http://articles.economictimes.indiatimes.com/2012-08-04/news/33035430_1_ssh-rehman-meera-shankar-itc|title= ITC inducts Meera Shankar in its board as the first women ever |date=4 August 2012 |access-date=15 September 2013|work=The Times Of India}}</ref> She is an additional non-executive director of the company.<ref>{{cite news |last1=Mukherjee |first1=Writankar |title=ITC inducts Meera Shankar in its board as the first women ever |url=https://economictimes.indiatimes.com/itc-inducts-meera-shankar-in-its-board-as-the-first-women-ever/articleshow/15352562.cms |access-date=25 May 2020 |work=The Economic Times |date=4 August 2012}}</ref>

==See also==
* [[Smoking in India]]
* [[Godfrey Phillips India]], the second largest tobacco company
* [[Smoking in Bollywood]]

==References==

{{Reflist}}

==Further reading==
* 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) [https://tradebrains.in/itc-vs-godfrey-phillips-india/ online]

==External links==
* [https://www.itcportal.com Official website]

{{ITC}}
{{Nifty 200 companies}}
{{BSE Sensex}}
{{S&P CNX Nifty companies}}
{{smoking nav}}

{{DEFAULTSORT:Itc Limited}}
[[Category:BSE SENSEX]]
[[Category:NIFTY 50]]
[[Category:Tobacco companies of India]]
[[Category:Companies based in Kolkata]]
[[Category:Conglomerate companies established in 1910]]
[[Category:Indian companies established in 1910]]
[[Category:Food and drink companies of India]]
[[Category:ITC Limited]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

ITC Limited - Revision history

2405:205:C8C7:7A32:7CB5:754D:4D51:8CC6 at 17:41, 30 September 2023