Website: http://www.itcportal.com/
ITC Limited or ITC is an Indian conglomerate headquartered in Kolkata, West Bengal. Its diversified business includes five segments: Fast Moving Consumer Goods (FMCG), Hotels, Paperboards, Paper & Packaging and Agri Business. In 2012-13, ITC's annual turnover was US$ 8.31 billion and at the end of the same year, its market capitalisation was US$ 45 billion. It employs over 25,000 people at more than 60 locations across India and is part of Forbes 2000 list. Company has been in scandals regarding funding of Political Parties to gain monopoly in Indian Cigaratte market.
ITC claims that it is the only company in the world of comparable dimensions to be Carbon Positive, Water Positive and Solid Waste Recycling Positive.
ITC Limited completed 100 years on 24 August 2010.
Change in name: ITC was formed on 24 August 1910 under the name Imperial Tobacco Company of India Limited. Later the name was changed to India Tobacco Company Limited in 1970 and then to I.T.C. Limited in 1974. Finally, the company changed its name to 'ITC Limited' on September 2001.
The earlier decades of the company's activities centered around the tobacco industry. Since 1964 conclusive epidemiological evidence of the deadly effects of tobacco consumption has led to a sharp decline in official support for producers and manufacturers of tobacco, in spite of its large contribution to the agricultural, fiscal, manufacturing and exporting sectors of the economy. Viewing the changes in the business dynamics in the tobacco industry, the company starting looking to other venues for earning revenue. In 1970s, it started to enter non-tobacco businesses and in the same period it started reducing the foreign equity holding in the company to 40%.
In 1975, the company entered Hotel business with the acquisition of a hotel in Chennai which was rechristened 'ITC-Welcomgroup Hotel Chola'.
In 1979, ITC entered the Paperboard business by promoting ITC Bhadrachalam Paperboards Limited, which today has become the market leader in India.
In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepali and British joint venture. Since inception, its shares have been held by ITC, British American Tobacco and various independent shareholders in Nepal. In 2002, Surya Tobacco became a subsidiary of ITC Limited and its name was changed to Surya Nepal Private Limited.
ITC's first rural mall, christened 'Choupal Saagar' was inaugurated in August 2004 at Sehore. On the rural retail front, 24 'Choupal Saagars' are now operational in the 3 states of Madhya Pradesh, Maharashtra and Uttar Pradesh.
In 2000, ITC forayed into the Greeting, Gifting and Stationery products business with the launch of Expressions range of greeting cards. A line of premium range of notebooks under brand Paperkraft was launched in 2002. To reach a wider student population, a range of notebooks was launched under brand Classmate in 2003. “Classmate” over the years has grown to become India’s largest notebook brand. Years 2007 - 2009 saw the launch of Children Books, Slam Books, Geometry Boxes, Pens and Pencils under the “Classmate” brand. In 2008, ITC repositioned the business as the Education and Stationery Products Business and launched India's first environment friendly premium business paper under the “Paperkraft” brand. “Paperkraft” offers a diverse portfolio in the premium executive stationery and office consumables segment.
ITC also entered the Lifestyle Retailing business with the Wills Sport range of casual wear for men and women in 2000. The Wills Lifestyle chain of exclusive stores later expanded its range to include Wills Classic formal wear (2002) and Wills Clublife evening wear (2003).
In 2000, ITC spun off its information technology business into a wholly owned subsidiary, ITC Infotech India Limited, to more aggressively pursue emerging opportunities in IT and IT-enabled services area.
ITC's foray into the Foods business began in August 2001 with the introduction of Kitchens of India ready-to-eat Indian gourmet dishes. In 2002, ITC entered the confectionery and staples segments with the launch of the brands Mint-o and Candyman confectionery and Aashirvaad atta (wheat flour). 2003 witnessed the introduction of Sunfeast as the Company entered the biscuits segment. ITC's entered the fast growing branded snacks category with Bingo! in 2007.
In 2002, ITC entered Safety Matches business with acquisition of WIMCO Limited. ITC now markets safety matches brands like iKno, Mangaldeep and Aim. ITC's entered Agarbattis (incense sticks) business in 2003. ITC's popular agarbattis brands include Spriha and Mangaldeep.
ITC introduced Essenza Di Wills, a range of fragrances and bath & body care products for men and women in July 2005. The company launched 'Fiama Di Wills' range of Shampoos, Shower Gels and Soaps in 2007. The Company also launched the 'Superia' range of Soaps and Shampoos in the mass-market segment in 2007 and Vivel De Wills & Vivel range of soaps and shampoos in 2008