The diversified conglomerate said it continues to aspire to become India’s No. 1 FMCG company by strengthening its core brands, expanding into value-added adjacencies and developing new portfolios focused on health, nutrition, convenience and premium products.
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ITC is the second-largest FMCG major in the country after Hindustan Unilever Limited.
According to the annual report, Chairman and Managing Director Sanjiv Puri has spearheaded the “ITC Next” strategy to reshape growth and profitability, with a focus on digital acceleration, innovation, sustainability and new growth vectors such as the Fresh Food Business, ITCMAARS and sustainable packaging.
As part of its growth strategy, ITC said its ITCMAARS digital agriculture platform aims to onboard 4,000 Farmer Producer Organisations and reach one crore farmers by 2030.
The company said initial estimates indicate the platform could help improve crop yields by 15-20 per cent and increase farmers’ net returns by 25-30 per cent through personalised advisories, market linkages and credit access.The company also identified its Fresh Food Business as a new growth vector. Operating through more than 70 cloud kitchens across Bengaluru, Chennai, Hyderabad, Mumbai and Pune, the business leverages ITC’s food brands, hotel cuisine expertise and digital capabilities.
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ITC said it would continue investing in sustainable packaging solutions, including recyclable and fibre-based alternatives to single-use plastic, while integrating the recently announced acquisition of the pulp and paper undertaking of Aditya Birla Real Estate Ltd as a strategic fit for expanding its paperboards business.
The company said artificial intelligence and digital technologies would play an increasingly important role across sourcing, manufacturing, logistics and product development. The next phase of the ITCMAARS platform will incorporate IoT-based advisory, remote sensing and soil sensors to improve farm productivity.
On sustainability, ITC reaffirmed its target of achieving net zero operations by 2050 while scaling renewable energy, climate-smart agriculture and water stewardship initiatives.
In the hospitality business, the company said ITC Hotels has set a target of expanding its portfolio to 250 properties with more than 22,000 keys by 2031.