Kolkata: ITC chairperson Sanjiv Puri said the company aspires to become India’s number one FMCG player, telling shareholders at the annual general meeting that its non-tobacco FMCG business has already crossed Rs 24,000 crore in revenue.The milestone makes it the second-largest FMCG company by revenue after Hindustan Unilever, ahead of Nestle (Rs 23,200 crore in 2024-25) and Britannia (Rs 18,500 crore in 2025-26). HUL leads the market with Rs 61,975 crore in revenue.Puri said ITC’s portfolio of over 30 FMCG brands now represents annual consumer spending of nearly Rs 37,000 crore, reaches around 280 million households and is exported to over 70 countries.The segment has grown from Rs 17,000 crore in 2017 to Rs 24,000 crore now. FMCG margins are expected to grow at 80-100 basis points year-on-year over the next few years, he said.Looking ahead, Puri said ITC is targeting an addressable FMCG market of Rs 8 lakh crore by 2035 and plans to roll out more “world class brands” while developing a “good for you” health-oriented portfolio.Recent acquisitions in high-potential categories are already clocking an annual recurring revenue of around Rs 1,350 crore, he added.Puri highlighted the breadth of ITC’s brand ecosystem — spanning Sunfeast, Aashirvaad, Yoga Bar, Fiama, Classmate, Bingo!, YiPPee!, Fabelle and others — as evidence of the company’s ability to build large, trusted home-grown brands at scale.“It is indeed difficult to find parallels globally of an enterprise that has launched so many large, successful and trusted home-grown brands in a relatively short period,” he said.He added that in line with the ITC Next strategy, the company is making rapid progress in not only scaling its core power brands but developing a future-ready portfolio that is alive to evolving consumer needs.“The vibrant portfolio has been enriched with new acquisitions in areas of promise that are already clocking an annual recurrent revenue of around Rs 1,350 crore,” he said further.
