ITC

By: EconomyWatch   Date: 17 July 2010

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ITC is a major private sector company of India. It was ranked #1159 in 2008 Forbes Global 2000 list. Its market capitalization is close to $19 billion and its turnover is more than $5 billion.
ITC is regarded as being among leading companies in a global context. Forbes magazine has also rated ITC as being one among 'Fab 50' list of Asian companies and most respected companies of Asia.

Brief history
ITC was established on August 24, 1910. Its initial name was Imperial Tobacco Company of India Limited. It had been incorporated in Kolkata. ITC started with production and marketing of cigarettes and similar tobacco leaf products.

Products and services
ITC provides its products and services in five separate categories – fast moving consumer goods, agri-businesses, hotels, information technology and paperboards and packaging. In fast moving consumer goods section ITC offers cigarettes, education and stationery, foods, safety matches, lifestyle retailing, incense sticks and personal care.

In hotels section there are a number of hotels of ITC across India. There are several brands of hotels run by ITC but major group is Welcomgroup. Hotels of ITC also have some well known restaurants like Bukhara, DumPukht and Dakshin that provide branded food. In paperboards and packaging section ITC offers paperboards and specialty papers and packaging services.

In agri-businesses section ITC provides agri commodities and tobacco leaf products. ITC Infotech is information technology wing of ITC. It is a growing company and has become a major software solution and services providers.

Financials
In 2007, sales of ITC had amounted to $2.98 billion and it made profits worth $0.64 billion. Its assets were worth $3.57 billion and its market value was around $19.01 billion.

Awards and recognition
ITC has won 'Development Gateway Award' in 2005 and has won first 'World Business Award'. It also received annual 'FICCI Outstanding Vision Corporate Triple Impact' award in year 2007. ITC has also won 'Golden Peacock Award' for 'Corporate Social Responsibility(Asia)' in 2007. In 2005, ITC had won an award for 'CSR in Emerging Economies 2005'. It was conferred with 'Excellence in Corporate Governance' in 2005 itself.



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