ITC's diversification into non-cigarette biz shows critical mass in profits

But ITC's strong run currently is not restricted to a single segment - all businesses are on a high

Ishita Ayan Dutt | Kolkata
Last Updated at March 15, 2023 22:37 IST

ITC knew the challenges in cigarettes and diversified. Hotels and paperboards were the early ones

A hotel in 1975, entry into paperboards in 1979, India’s dominant cigarette maker, ITC, read the tea — or tobacco — leaves early, leveraged its enterprise strengths and stepped up the diversification agenda to create multiple drivers of growth. Some failed, some faltered, some were transformational, adding steadily to the top line. Now those efforts are making a difference: margins from non-cigarettes — FMCG, hotels, agri, paperboards, paper and packaging — are expanding and profits are kicking in more significantly than ever before.

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