ITC will continue to deliver robust growth despite inflation concerns: Puri

Diversified conglomerate ITC Limited said that the company will continue to deliver robust growth despite key concerns such as inflation

Sanjiv Puri, ITC chairman
ITC chairman Sanjiv Puri
Press Trust of India Kolkata
1 min read Last Updated : Jul 20 2022 | 1:03 PM IST

Diversified conglomerate ITC Limited on Wednesday said that the company will continue to deliver robust growth despite key concerns such as inflation.

Speaking at the company's AGM virtually, CMD of ITC Sanjiv Puri said that in the FMCG space, the firm has nurtured 25 brands and the newer ones will garner an annual consumer spend of Rs 24,000 crore.

The company will also fortify and scale up new mega brands while investing in categories of the future, he said.

"Today, it is immensely encouraging that your company's newer FMCG Businesses have garnered an annual consumer spend of Rs 24,000 crore. The carefully selected portfolio, with substantial headroom to grow, is estimated to have a total addressable market potential of Rs 5,00,000 crore by 2030, which is amongst the highest in the Indian FMCG space," he said.

ITC launched 110 products during the year, Puri said adding that the company's future-ready and purpose-driven businesses and brands are well poised to seize the opportunities and make a meaningful contribution to the national priorities.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :InflationITC LtdSanjiv Puri

First Published: Jul 20 2022 | 1:03 PM IST

Next Story