Progressive investments in multiple drivers of growth
Sustaining high quality top line and earnings growth
26% compound annual growth in total shareholder returns over the last 17 years
47 fold increase in market capitalisation from 1996
ITC posted another year of strong performance premised on its corporate strategy of creating multiple drivers of growth. This performance is even more encouraging when viewed against the backdrop of the extremely challenging business context in which it was achieved, namely, the continued economic slowdown, steep increase in taxes/duties on cigarettes, gestation costs relating to the new FMCG businesses and recent investments in the Paper, Paperboards and Packaging and Hotels businesses.
Gross Revenue for the year grew by 19.9% to Rs. 41,810 crores. Net Revenue at Rs. 29,606 crores grew by 19.4% primarily driven by a 26.4% growth in the non-cigarette FMCG businesses, as well as in Agri Business together with 13.4% growth in the Cigarettes Business. Profit Before Tax increased by 20.1% to Rs. 10,684 crores while Net profits at Rs. 7,418 crores registered a growth of 20.4%.
Earnings Per Share for the year stood at Rs. 9.45 (previous year Rs. 7.93), while Cash flows from Operations aggregated Rs. 9,596 crores compared to Rs. 8,334 crores in the previous year.
Continuing with its chosen strategy of creating multiple drivers of growth, the Company is presently the leading FMCG marketer in India, a trailblazer in ‘green hoteliering’ and the second largest Hotel chain in India, the clear market leader in the Indian Paperboard and Packaging industry and the country’s foremost Agri business player. ITC’s wholly owned subsidiary, ITC Infotech India Limited, is one of India’s fast growing Information Technology companies in the mid-tier segment.
ITC is one of India’s most admired and valuable corporations with a market capitalisation of over Rs. 2,60,000 crores and has consistently featured amongst the top 10 private sector companies in terms of market capitalisation and profits over the last seventeen years.