Wipro, ITC, Cadila take lead in race to acquire Complan
Posted on 13th August 2018 |
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Mumbai: ITC Ltd, Wipro Consumer Care & Lighting Ltd and Cadila Healthcare Ltd are readying to submit binding offers to buy Kraft Heinz India’s popular nutritional drink brand, Complan, two people directly aware of the development said. All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard—managing the transaction, the people cited above said, requesting anonymity as the discussions are private. |
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ITC likely to buy GSK-owned Horlicks brand in India if valuation is right
Posted on 28th July 2018 |
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ITC Ltd may consider the acquisition of GSK-owned Horlicks brand in India, provided its valuation is right. The bid is expected to be opened next month. However, ITC is not interested in the Complan brand of health drinks from Kraft Heinz. It is suggested that in case of a takeover of this brand, the acquirer may also have to take over several other brands like prickly heat powder Nycil and glucose drink Glucon D. |
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ITC net up 10% as excise duty expenses drop significantly
Posted on 27th July 2018 |
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Beating market expectations, cigarette-to-hotel-to-FMCG major ITC on Thursday reported a 10.08% year-on-year (y-o-y) rise in its standalone net profit to Rs 2,818.68 crore for the first quarter ended June 30, with total expenses falling and revenue from the non-cigarette FMCG business soaring during the period. |
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Nestle India breaks into Rs 1 trillion market cap club after HUL and ITC
Posted on 18th July 2018 |
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Nestlé India on Tuesday became the third FMCG (fast-moving consumer goods) company to cross Rs 1 trillion in market capitalisation (m-cap). Hindustan Unilever (m-cap: Rs 3.64 trillion) and ITC (m-cap: Rs 3.29 trillion) are the two others. With Rs 1.02-trillion, Nestlé India is at 28th position in overall m-cap ranking, data on the BSE showed. Its shares closed at an all-time high of Rs 10,531.6 on Tuesday, up 3.14 per cent.
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From ITC to Patanjali, FMCG majors pledge to reduce sugar, salt levels
Posted on 11th July 2018 |
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A host of fast-moving consumer good majors on Tuesday committed to further reduce salt, sugar and trans fat in their offerings. Companies from Nestle and ITC to Hindustan Unilever and Patanjali have pledged to reduce use of unhealthy ingredients by five to 50 per cent in line with the Food Safety and Standards Authority of India's initiative to encourage healthier eating practices. |
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ITC plans to top FMCGs with new launches
Posted on 3rd July 2018 |
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Kolkata-based conglomerate ITC plans will explore every possible consumer category and launch 30-40 new products each year in its effort to become the country's biggest fast-moving consumer goods (FMCG) company, a company executive said. “To achieve our revenue target of Rs 1 lakh crore by 2030 from the new FMCG businesses, we are strengthening our existing categories and venturing into newer ones,” B Sumant, president of the FMCG business, told ET in an interview at ITC’s Virginia House headquarters in Kolkata. |
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ITC to add 2,500 rooms in 5 years, to invest Rs 25 billion in logistics
Posted on 2nd July 2018 |
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ITC Limited on Monday said it planned to add 2,500 rooms to its hotel segment to take the total inventory to 12,000 in five years from 9,500 now, even as the diversified group mulls foraying into the healthcare space. Sanjiv Puri, ITC Managing Director, said the company would invest Rs 25 billion in the next two to three years in Telangana, among others,to set up an integrated consumer goods manufacturing unit and logistics facility and for the capacity augmentation and efficiency of Bhadrachalam Paperboard. |
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Packaged foods fill up a quarter of ITC coffers
Posted on 28th June 2018 |
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KOLKATA: Aashirvaad atta, Sunfeast cookies, and Bingo snacks are helping cement ITC’s credentials on the Indian packaged foods leaderboard, helping the segment log about half the annual sales of the conglomerate’s traditional mainstay — cigarettes. At the tobacco products-FMCG-hotels major, which just published its annual report, the branded packaged food business made up 22.1% of the net turnover in FY18, compared with the 46% contribution from cigarettes, which also had a far higher base. |
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ITC extends chairman Deveshwar's tenure by 2 years, shareholder nod pending
Posted on 27th June 2018 |
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Diversified conglomerate ITC has extended the tenure of chairman Yogesh Chander Deveshwar by two years. A resolution in this regard will be placed before the shareholders for approval at the forthcoming annual general meeting (AGM). The AGM notice stated given the increasing size and complexity of the organisation, the Nomination & Compensation Committee and the board were of the view that it would be in the best interest of the company for Deveshwar to continue in his capacity as the chairman for some more time. |
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From ITC to Dabur, plastic waste control top priority for FMCG firms
Posted on 13th June 2018 |
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If demonetisation and goods and services tax (GST) gave sleepless nights to consumer goods makers till early-2018, for the past few months it has been plastic packaging materials that are ringing alarm bells for these firms. The issue of pollution caused due to the non-degradable material is keeping consumer goods majors — from ITC and Dabur to Nestlé and PepsiCo — on their toes. |
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