IndiaCatalog.com
India News
Search Web Directory
News Home
ITC’s top eight FMCG brands cross the $2-billion milestone
Posted on 7th June 2018
KOLKATA: The cumulative sales of eight of cigarette-to-soap maker giant ITC’s FMCG brands crossed the $2-billion (Rs 13,000 crore) milestone in the fiscal ending March 2018, with three packaged food brands Sunfeast biscuits, Bingo chips and snacks and Aashirvaad atta driving the surge. This propelled the annual consumer spend on ITC’s FMCG brands to more than Rs 16,000 crore in FY18 compared to Rs 14,000 crore the year before, an investor presentation from the company showed. The eight brands contributed over 80% to the total FMCG sales.

According to the presentation, Aashirvaad atta crossed Rs 4,000 crore sales last fiscal followed by Sunfeast biscuits at Rs 3,500 crore and Bingo chips and snacks at Rs 2,000 crore. Each of the brands rakes in Rs 500 crore worth of sales to last year numbers.

While Aashirvaad’s growth was triggered by launch of multiple variants in atta and entry into ghee and spices, Bingo had gained in the bridge snacks segment with products like Tedhe Medhe and Mad Angles competing with PepsiCo’s Kurkure. Next in line were the Classmate stationary and Sunfeast Yippee noodles brands; each clocked more than Rs 1,000 crore in sales. Three brands — Vivel soap, Candyman confectionery and Mangaldeep agarbatti —clocked over Rs 500 crore sales each last fiscal.

Industry executives said ITC’s packaged food business is continuing to drive its FMCG growth with personal care brands yet to break into the Rs 1,000-crore plus trajectory. This might slow the pace of growth for the company as the cash-cow packaged food brands have already gained scale with high base. “ITC needs to create new growth drivers, be it in personal care or an entry into home care,” the chief of aleading grocery retail chain said.

An ITC spokesperson said in an email that most of the major FMCG categories enhanced their market standing during the year. “While Bingo, Aashirvaad atta and Dark Fantasy Choco Fills premium cream biscuits were the key drivers of growth in the branded packaged foods businesses, Engage deodorants, Vivel and Fiama soaps & shower gels and Savlon handwash fuelled strong growth in personal care business,” he said.

ITC is the market leader in packaged flour, premium cream biscuits and notebooks and the second-largest player in snacks, instant noodles and deodorant. The Kolkata-based conglomerate is betting big on FMCG as the future growth driver to de-risk the cigarette business straining under regulatory pressure with taxes almost trebling in the last six years.

The packaged food business is projected to be the majority contributor to ITC’s goal to achieve Rs 1 lakh crore sales from the FMCG businesses by 2030, accounting for 60-65% of the total pie.

While the packaged food business is profitable, the other FMCG businesses are yet to ring in cash. The company last year commissioned two world-class integrated consumer goods manufacturing and logistics units in West Bengal and Punjab. It is also constructing more of such facilities to secure capacity and rapidly scale up the FMCG business, the ITC spokesperson said.

Related Companies: ITC Limited   

Other Latest News
The Centibillionaires: Bill Gates joins Jeff Bezos as the only two members of the $100 billion club
Posted on 20th March 2019
Bloomberg tracks the fortunes of some 2,800 billionaires. Of those, 145 are worth at least $10 billion, making them decabillionaires. Now, the world contains two centibillionaires simultaneously.

Microsoft Corp. co-founder Bill Gates, once the world’s richest person, has again eclipsed the $100 billion threshold, joining Amazon.com Inc.’s Jeff Bezos in the exclusive club, according to the Bloomberg Billionaires Index.


Takeover tussle: L&T’s takeover bid fails to unsettle Mindtree
Posted on 20th March 2019
Even as Larsen and Toubro (L&T) on Tuesday tried to play down the nature of its move to take over technology firm Mindtree, promoters of the latter refused to budge from their stand, terming the move hostile, unprecedented, and unexplainable. They maintained that the culture of the two companies are not aligned.

Addressing newspersons on Tuesday, L&T MD & CEO SN Subrahmanyan said what they are trying to do is with pyaar (love) and will continue to look at it as something they are doing from dil (heart).


SBI’s NBFC loan purchases at just Rs 17,000 crore so far, unlikely to meet full-year target
Posted on 20th March 2019
State Bank of India (SBI) has bought loan pools worth only about Rs 17,000 crore so far in FY19 from non-banking financial companies (NBFCs), against the stated target of Rs 45,000 crore, sources told FE.

There are not too many good asset pools up for sale, and SBI is unlikely to meet its revised full-year target, according to executives in the know.


Sebi, IBBI ink deal for better IBC implementation
Posted on 20th March 2019
The Insolvency and Bankruptcy Board of India (IBBI) on Tuesday signed a memorandum of understanding (MoU) with capital markets regulator Sebi for an effective implementation of the Insolvency and Bankruptcy Code, 2016. They have agreed to assist and cooperate with each other for effective implementation of the IBC, subject to limitations imposed by the applicable laws, an official statement said.

India not first tier country for post-Brexit FTA, says UK minister
Posted on 20th March 2019
India is not the first tier country for post-Brexit free trade agreement (FTA) and a lot more work would be required before Britain can start negotiating such a deal with New Delhi, the UK government admitted on Tuesday.

In his submission to the ongoing Global Britain and India' inquiry being conducted on post-Brexit India-UK ties by the House of Commons Foreign Affairs Committee (FAC), UK Foreign Office Minister Mark Field flagged some high-value trade disputes involving British companies in India as a warning sign on the road ahead.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for ITC’s top eight FMCG brands cross the $2-billion milestone
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for ITC’s top eight FMCG brands cross the $2-billion milestone

Most Read News

Court denies interim relief to Kotak Bank

Reliance Communications pays Rs 462 crore to Ericsson

BSNL fails to pay February salary to 1.76 lakh employees

Mercedes drives in new AMG C43 Coupe

Vodafone Idea plea rejected: TDSAT refuses cheaper rates for backhaul spectrum

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement