Page 2 - Sanjiv Puri

ITC's Puri hopes food export bans are short-lived once supply stabilises

The company, a major wheat exporter, saw its agriculture business revenue decline 25% in the April-June quarter, hit by the export bans, according to its quarterly earnings presentation

ITC hotel demerger financially win-win, says chairman Sanjiv Puri

Financial ratios to improve significantly for ITC, while new entity will start with strong balance sheet

ITC board gives in-principle approval for demerger of hotels business

The move may improve ITC's ROCE by 2,000 bps

ITC CMD Sanjiv Puri's total salary rose 53% to Rs 16.31 crore in FY23

The total remuneration of ITC Chairman and Managing Director Sanjiv Puri was increased 53.08 per cent to Rs 16.31 crore for financial year 2022-23. Puri drew a basic salary of Rs 2.88 crore, perquisites and other benefits of Rs 57 lakh and a performance bonus/ long-term incentives/ commission of Rs 12.86 crore from ITC for 2022-23. A year ago, Puri's total remuneration was Rs 10.66 crore, which included a basic salary of Rs 2.64 crore, perquisites and other benefits of Rs 49.63 lakh. However, his performance bonus/ commission was Rs 7.52 crore only in FY22. During the annual general meeting scheduled for August 11, ITC has proposed a resolution for re-appointment of Puri as a director and also as managing director & chairman for five years or till such earlier date to conform with the policy on retirement from July 22, 2024. Puri was appointed as Managing Director of ITC on July 22, 2019, and his present term will end on July 21, 2024. After Puri, Nakul Anand is the second ...

ITC board recommends second term for Sanjiv Puri as company's CMD

The board of ITC Limited has recommended the reappointment of Sanjiv Puri as the company's chairman and managing director for a second term of five years. The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company's annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday. The company under Puri drove the 'ITC Next' strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said. Revenue from the company's FMCG segment has grown from Rs 12,500 crore to Rs 19,123 crore during the period and segment EBITDA margins improved by 7.7 per cent between 2016-17 to 2022-23. Its other verticals like hotels, agri-business, paperboards, paper and packaging also registered improved performance in the last four years, they added.

Eye on growth post-pandemic, ITC to invest Rs 3,000 crore annually in India

The fast-moving consumer goods (FMCG) company will use the money to build more manufacturing capabilities

From packaged food to hotel menus: ITC goes gung ho on millets

ITC is also developing a comprehensive millets-based portfolio under popular brand names and in familiar formats for easier adoption

World's transition to net-zero should be inclusive, says ITC CMD Puri

The process of the world's transition towards 'net-zero' needs to be inclusive to avoid accentuation of social inequality challenge and the 'exemplary progress' made by India in the area is worthwhile for the global community to look at, ITC Chairman and Managing Director Sanjiv Puri said on Monday. In his address at the Business-20 (B20) India inception meeting here, Puri also called for collective efforts in the G-20 and global community to come together to find solutions in a collaborative fashion for a sustainable future. "The fact that the world has to transition to net-zero, the fact that the world needs to move to a more sustainable and greener future is well acknowledged and understood. However, as we all know, progress has not been adequate," Puri said at the meeting organised by CII. There are challenges, there are critical, financial and social issues that need to be addressed, to accelerate progress, he added. "It is important as we traverse this complex journey that th

Our Ebitda share from non-cigarette biz at 27%: ITC CMD Sanjiv Puri

As part of the ITC Next strategy, we are making sure that the organisation remains agile, nimble and consumer-centric at all times

ITC to pursue 'asset-right' strategy for its hotel business: Chairman

ITC Ltd would pursue the "asset-right" strategy for its hotel business to ensure that the diversified conglomerate remains competitive and contemporary, and continues to deliver superior performance, its chairman Sanjiv Puri said. The Kolkata-based multi-conglomerate, which operates hotels under the brand names such as ITC and Welcome, also said that it is exploring foreign markets for its hospitality business, he said. According to Puri, the tourism and hotel industry is recovering after pandemic and the company will take the demerger process forward and explore alternate structure. "Once things are finalised and we have a final proposal we will share it," Puri told PTI when asked about the demerger of ITC hotel business. On the company's plans to expand hotel operations overseas, he said they are "pursuing asset-right strategy sometime now and there are large number of hotels that have come in under Welcome hotels. The new brand called 'Storii' and 'Momentous' also will start ...

ITC exits from lifestyle retailing business after a 'strategic review'

Last month, ITC Chairman Sanjiv Puri said that the company was liquidating some old inventory of the Wills brand left in a few stores and there were no further plans to continue the business.

FMCG exports to make substantial contribution to ITC's growth: Sanjiv Puri

ITC launched 110 products in FY22 to mark its capacity for innovation, he says

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

How tobacco-to-hotels major ITC rose to the challenge during pandemic

ITC Chairman and Managing Director Sanjiv Puri's three years in charge have seen structural shifts that steadied the cigarettes to hotels major against a tough business environment

Sanjiv Puri elected CII VP for FY23, R Dinesh as President Designate

ITC chairman and managing director Sanjiv Puri has been elected the Vice President of CII for 2022-23, while TVS Supply Chain Solutions Executive R Dinesh has become the new President De

Number of ITC employees with over Rs 1 cr salary rises to 220 in FY22

The number of employees at conglomerate ITC drawing a salary of over Rs 1 crore per annum has gone up by 44 per cent in the recently-concluded FY2021-22 fiscal, according to the company's annual report. The total number of ITC employees drawing a salary aggregating Rs 8.5 lakh per month or over a crore rupees per year was 220 against 153 in 2020-21, said the latest annual report of ITC. "There were 220 employees, who were employed throughout the year and were in receipt of remuneration aggregating Rs 102 lakhs or more or were employed for part of the year and were in receipt of remuneration aggregating Rs 8.5 lakhs per month or more during the financial year ended March 31, 2022," the annual report said. While the gross remuneration drawn by ITC Chairman & Managing Director Sanjiv Puri in FY22 was up 5.35 per cent to Rs 12.59 crore, which includes a consolidated salary of Rs 2.64 crore, perquisites /other benefits of Rs 49.63 lakh and a performance bonus of Rs 7.52 crore. Puri's ..

Puri's 'Next' strategy drives ITC into smart FMCG, hotels, agri innovation

ITC appears to be closing in on turning its FMCG, agriculture and hotel segments as main growth drivers, with chairman Sanjiv Puri shepherding the 'Next' strategy

ITC to launch super app this year to tap small farmers' potential: Chairman

The product will offer a wide range of agricultural solutions while its micro-services structure will enable plug-in by a range of agtech solutions

ITC adopting disruptive business models as part of strategy reset, says MD

About the FMCG business, Sanjiv Puri said ITC is focusing to build a formidable business at scale and several of its brands have already achieved leadership positions

ITC bets big on non-cigarette FMCG biz, but Street differs on smoke signals

Its non-cigarette FMCG business has been restructured and positioned as the next growth engine but the market still considers the conglomerate a tobacco player