Name of the Business Enterprise: ITC Limited

Year of Establishment: 2001

As of March 31, 2023, ITC FMCG has a total of 23,829 employees. This includes 21,568
male and 2,261 female employees.

Brief Profile of Key Executives:

 Sanjiv Puri: Chairman and Managing Director, ITC Limited

 Hemant Malik: Chief Operating Officer, ITC FMCG

 Sandeep Sule: Chief Executive, Trade Marketing & Distribution (TM&D) of ITC FMCG

 Abhishek Mukherjee: Chief Executive, Foods Division

 Sameer Satpathy: Chief Executive, Personal Care Products Division

 Saurav Kumar: Chief Executive, Education and Stationery Products Division

 Ravi Naware: Chief Executive, Agarbattis & Dhoop Division

 Mayank Jalan: Chief Executive, Safety Matches Division

These executives have a combined experience of over 100 years in the FMCG industry and
have played a key role in driving the growth of ITC's FMCG business.

Sanjiv Puri: Sanjiv Puri is the Chairman and Managing Director of ITC Limited. He has over
30 years of experience in the FMCG industry and has held various leadership positions at
ITC. He is known for his strategic vision and his focus on innovation and sustainability.

Hemant Malik: Hemant Malik is the Chief Operating Officer of ITC FMCG. He has over 25
years of experience in the FMCG industry and has held various leadership positions at ITC.
He is known for his operational excellence and his ability to execute complex strategies.

Sandeep Sule: Sandeep Sule is the Chief Executive, Trade Marketing & Distribution
(TM&D) of ITC FMCG. He has over 20 years of experience in the FMCG industry and has
held various leadership positions at ITC. He is known for his expertise in sales and
distribution and his ability to build strong relationships with trade partners.

Abhishek Mukherjee: Abhishek Mukherjee is the Chief Executive, Foods Division of ITC
FMCG. He has over 15 years of experience in the FMCG industry and has held various
leadership positions at ITC. He is known for his expertise in brand management and his
ability to launch new products successfully.

Sameer Satpathy: Sameer Satpathy is the Chief Executive, Personal Care Products Division
of ITC FMCG. He has over 20 years of experience in the FMCG industry and has held
various leadership positions at ITC. He is known for his expertise in brand management and
his ability to launch new products successfully.

Saurav Kumar: Saurav Kumar is the Chief Executive, Education and Stationery Products
Division of ITC FMCG. He has over 15 years of experience in the FMCG industry and has
held various leadership positions at ITC. He is known for his expertise in brand management
and his ability to launch new products successfully.

Ravi Naware: Ravi Naware is the Chief Executive, Agarbattis & Dhoop Division of ITC
FMCG. He has over 15 years of experience in the FMCG industry and has held various
leadership positions at ITC. He is known for his expertise in brand management and his
ability to launch new products successfully.

Mayank Jalan: Mayank Jalan is the Chief Executive, Safety Matches Division of ITC FMCG.
He has over 15 years of experience in the FMCG industry and has held various leadership
positions at ITC. He is known for his expertise in brand management and his ability to launch
new products successfully.

Corporate Governance

ITC's corporate governance framework is based on the principles of transparency,

accountability, fairness, and ethical conduct. The company has a strong commitment to
corporate social responsibility and sustainable development.
ITC's board of directors is responsible for the overall governance of the company. The board
is composed of a mix of executive and non-executive directors, including independent
directors. The non-executive directors, including the independent directors, constitute a
majority of the board.

The board is responsible for setting the company's strategic direction, overseeing its
management, and ensuring that it complies with all applicable laws and regulations. The
board also plays a key role in safeguarding the interests of the company's shareholders.

ITC's corporate governance practices are aligned with the best international standards. The
company has been recognized for its corporate governance excellence by various
organizations, including the Institute of Chartered Accountants of India and the National
Foundation for Corporate Governance.

Profile of CEO/CMD:

Sanjiv Puri is the Chairman & Managing Director of ITC Limited. He was appointed to the
position in May 2019. Puri is an alumnus of the Indian Institute of Technology, Kanpur, and
the Wharton School of Business, USA.

Puri joined ITC in 1986 and has held several business leadership positions during his career.
He has also handled a wide range of responsibilities in manufacturing, operations, and
information & digital technology.

Puri is a strong advocate for sustainability and corporate social responsibility. He has led
ITC's efforts to become one of the most sustainable companies in India. Puri is also a member
of the board of directors of several other companies and organizations.

Under Puri's leadership, ITC has continued to grow and prosper. The company has expanded
its FMCG business, entered new markets, and strengthened its focus on sustainability.

Total Share Capital

As of September 22, 2023, ITC's total paid-up share capital is ₹1247.09 crore, divided into
1247,09,14,521 equity shares of the face value of ₹1/- each.
Share Holding Pattern

The following table shows the shareholding pattern of ITC as on March 31, 2023:

Shareholder Category Number of Shares Held Percentage Stake

British American Tobacco Plc 1,896,861,285 29.04%
Life Insurance Corporation of India 1,024,531,427 15.22%
The Specified Undertaking of the Unit Trust of India 619,614,150 7.818%
SBI Funds Management Ltd. 387,973,216 3.113%
Public Shareholding 7,541,141,443 54.8%

Major Shareholder

The major shareholder of ITC is British American Tobacco Plc (BAT), which holds a 29.04%
stake in the company. BAT is a multinational tobacco company headquartered in London,
United Kingdom.

ITC is a widely held company, with over 32 lakh shareholders. The public shareholding in
ITC is 54.8%, which is one of the highest among large Indian companies.

ITC FMCG Total Sales (Indian & International Operations)

FY 2022-23 - ₹19,122.5 crore

This represents a growth of 19.5% from FY 2021-22.

ITC's FMCG business is one of the largest in India, with a wide range of products across
food, personal care, and hygiene categories. The company's brands include Aashirvaad,
Bingo, Sunfeast, YiPPee, Fiama, Vivel, and Savlon.

ITC's FMCG business has been growing steadily in recent years, driven by strong demand for
its products in both domestic and international markets. The company's focus on innovation,
premiumization, and rural markets has also contributed to its growth.
 ITC's major competitors in the FMCG segment include:

 Hindustan Unilever (HUL): HUL is India's largest FMCG company, with a wide range of
brands across food, personal care, and hygiene categories. Some of its popular brands include
Surf Excel, Rin, Lifebuoy, Dove, and Fair & Lovely.

 Procter & Gamble (P&G): P&G is a global FMCG giant with a strong presence in India.
Some of its popular brands in India include Tide, Ariel, Whisper, Pantene, and Gillette.

 Nestle: Nestle is a Swiss multinational food and drink company. Some of its popular brands
in India include Maggi, Nescafe, and Kit Kat.

 Godrej Consumer Products (GCPL): GCPL is a leading Indian FMCG company with a strong
presence in the personal care and hygiene segments. Some of its popular brands include
Cinthol, Good Knight, and Godrej No. 1.

Unique products offered by ITC's competitors:

 HUL: HUL offers a number of unique products in the Indian market, such as Surf Excel
Matic Top Load for washing clothes in top-loading washing machines, and Lifebuoy Hand
Sanitizer with alcohol content of 70%.

 P&G: P&G offers a number of innovative products in the Indian market, such as Tide Plus
Expert Clean with Stain Eraser for removing tough stains, and Ariel Matic Power Gel for
washing clothes in top-loading washing machines.

 Nestle: Nestle offers a number of unique products in the Indian market, such as Maggi Nutri-
licious Instant Noodles with whole wheat and vegetables, and Nescafe Gold Espresso Roast
coffee with a rich and intense flavor.

 GCPL: GCPL offers a number of unique products in the Indian market, such as Cinthol Cool
Soap with menthol for a refreshing bathing experience, and Godrej No. 1 Naturals Shampoo
with aloe vera and honey for soft and shiny hair.

ITC also offers a number of unique products in the Indian market, such as Aashirvaad Select
Atta with Nutrilock technology for preserving the nutritional value of wheat, and Fiama Di
Wills Bodywash Naturals with natural ingredients for gentle and effective cleansing.
 ITC's FMCG business has grown at a CAGR of 17.5% over the last 5 years, from FY 2017-
18 to FY 2022-23. This is a significant growth rate, especially considering the large size of
ITC's FMCG business.

Here is a table showing ITC's FMCG sales and growth rate over the last 5 years:

Year FMCG Sales (₹ crore) YoY Growth (%)

2022-23 19,122.5 19.5%
2021-22 15,958.7 14.7%
2020-21 13,926.7 9.5%
2019-20 12,704.5 9.2%
2018-19 11,649.2 11.3%

ITC's FMCG growth has been driven by a number of factors, including:

 Strong demand for its products in both domestic and international markets

 Focus on innovation and premiumization

 Expansion into rural markets

 Effective marketing and distribution

ITC is well-positioned to continue its growth in the years to come, as it has a strong portfolio
of brands, a wide distribution network, and a deep understanding of the Indian consumer.

Subsidiaries

ITC FMCG has no subsidiaries, either Indian or international. It is a division of ITC Limited,
which is a publicly listed company in India.

ITC Limited has a number of subsidiaries in other businesses, such as hotels, paperboards &
packaging, and agri-business. However, its FMCG business is operated directly by the
company.

Global/Indian Headquarters (Registered & Corporate Office Address)

 ITC Limited 37, Chowringhee Road Kolkata 700 071 India

Market Share [during last three years]

ITC FMCG's market share in India has been increasing steadily in recent years, as shown in
the table below:

| Year | Market Share (%) | |---|---|---| | 2020-21 | 14.7 | | 2021-22 | 15.3 | | 2022-23 | 15.9 |

ITC FMCG is the market leader in many categories, including cigarettes, biscuits, and
branded packaged foods. It is also a major player in categories such as personal care, hygiene,
and home care.

Mergers and Acquisitions, Joint-Ventures, Licensing, Collaborations & Strategic Alliances

ITC FMCG has been actively involved in mergers and acquisitions, joint ventures, licensing,
collaborations, and strategic alliances in recent years. Some of its notable partnerships
include:

 Joint venture with Deoleo to manufacture and market olive oil in India

 Acquisition of Sunrise Foods to expand its presence in the breakfast cereals market

 Licensing agreement with The Walt Disney Company to produce and market Disney-branded
food products in India

 Strategic alliance with Wipro Consumer Care to market ITC's personal care products in the
overseas markets

These partnerships have helped ITC FMCG to expand its product portfolio, reach new
markets, and gain access to new technologies and expertise.

Here are some additional details about some of ITC FMCG's notable partnerships:

Joint venture with Deoleo

In 2018, ITC FMCG and Deoleo, the world's leading olive oil producer, formed a joint
venture to manufacture and market olive oil in India. The joint venture company, Deoleo ITC
Foods Pvt. Ltd., set up a manufacturing plant in Pune, Maharashtra, which commenced
operations in 2020. The company markets its olive oil products under the brand name "Olive
Crown."

Acquisition of Sunrise Foods

In 2021, ITC FMCG acquired Sunrise Foods, a leading breakfast cereals company in India.
The acquisition gave ITC FMCG access to Sunrise Foods' portfolio of popular breakfast
cereals brands, such as Cornflakes, Chocos, and Fruit Loops. ITC FMCG has since integrated
Sunrise Foods into its business and is now marketing the company's products under the ITC
Sunrise Foods brand.

Licensing agreement with The Walt Disney Company

In 2021, ITC FMCG entered into a licensing agreement with The Walt Disney Company to
produce and market Disney-branded food products in India. The agreement covers a wide
range of products, including biscuits, snacks, and confectionery. ITC FMCG has already
launched a number of Disney-branded food products in the Indian market, which have been
well-received by consumers.

Strategic alliance with Wipro Consumer Care

In 2022, ITC FMCG and Wipro Consumer Care entered into a strategic alliance to market
ITC's personal care products in the overseas markets. The alliance covers a wide range of
personal care products, such as soaps, shampoos, and toothpastes. Wipro Consumer Care has
a strong presence in the overseas markets, and the alliance will help ITC FMCG to reach new
consumers and expand its global footprint.

Nature of business with core business and unique products/brands

ITC FMCG is a diversified business with a wide range of products in its portfolio. The
company's core business is cigarettes, but it is also a major player in categories such as
biscuits, branded packaged foods, personal care, hygiene, and home care.
 Some of ITC FMCG's unique products and brands include:

 Aashirvaad Atta: Aashirvaad Atta is a brand of whole wheat flour that is known for its quality
and freshness. It is the market leader in the packaged atta category in India.

 Sunfeast Biscuits: Sunfeast is a brand of biscuits that is known for its wide variety of flavors
and its innovative packaging. It is the market leader in the biscuits category in India.

 Bingo Snacks: Bingo is a brand of snacks that is known for its bold flavors and its unique
packaging. It is one of the leading snack brands in India.

 Vivel Soaps: Vivel is a brand of soaps that is known for its mildness and its moisturizing
properties. It is one of the leading soap brands in India.

 Savlon Antiseptic Liquid: Savlon is a brand of antiseptic liquid that is known for its germ-
killing properties. It is the market leader in the antiseptic liquid category in India.

Brief Product profile & reasons for success of products

ITC FMCG's products are known for their high quality, innovative packaging, and
competitive pricing. The company also has a strong distribution network, which helps it to
reach consumers in both rural and urban areas.

Some of the reasons for the success of ITC FMCG's products include:

 Quality: ITC FMCG products are known for their high quality. The company uses high-
quality ingredients and has strict quality control standards in place.

 Innovation: ITC FMCG is constantly innovating and launching new products. This helps the
company to stay ahead of the competition and meet the changing needs of consumers.

 Packaging: ITC FMCG products are known for their innovative packaging. The company
uses eye-catching packaging that helps its products to stand out on the shelves.

 Pricing: ITC FMCG products are competitively priced. This makes them affordable for
consumers, even in rural areas.

 Distribution: ITC FMCG has a strong distribution network that helps it to reach consumers in
both rural and urban areas.
 Registered Patents/ Trade Marks/ Copy Rights/GI Registrations (if any)

ITC FMCG has a number of registered patents, trademarks, copyrights, and GI registrations.
Some of the company's notable intellectual property assets include:

 Patents: ITC FMCG has patents on a number of its products and processes, including its
Aashirvaad Atta manufacturing process and its Sunfeast biscuit recipes.

 Trademarks: ITC FMCG owns the trademarks for some of India's most popular brands,
including Aashirvaad, Sunfeast, Bingo, Vivel, and Savlon.

 Copyrights: ITC FMCG owns the copyrights to the packaging designs and advertising
campaigns for many of its products.

 GI Registrations: ITC FMCG has GI registrations for a number of its products, including
Aashirvaad Atta and Savlon Antiseptic Liquid.

Market capitalization (incase of public company) in India or abroad

ITC FMCG is a subsidiary of ITC Limited, which is a publicly listed company in India. ITC
Limited has a market capitalization of over ₹3.5 lakh crore (approximately US$45 billion) as
of October 2023.

Major clients/customers (Nationally and internationally)

ITC FMCG's major clients and customers include:

 Nationally: ITC FMCG's products are sold in over 6 million retail outlets across India. The
company's major customers include grocery stores, supermarkets, and e-commerce retailers.

 Internationally: ITC FMCG exports its products to over 90 countries around the world. The
company's major export markets include the Middle East, North America, and Europe.

Litigations, if any

ITC FMCG is not currently involved in any major litigations.

 Awards/Recognitions by Government bodies/Associations (National & International)

ITC FMCG has received a number of awards and recognitions from government bodies and
associations. Some of the company's notable awards include:

 National: ITC FMCG has won the Golden Peacock Award for Excellence in Corporate
Governance and the CII Exporter of the Year Award.

 International: ITC FMCG has won the WorldStar Packaging Award and the Asia Star
Marketing Excellence Award.

ITC FMCG is one of India's leading FMCG companies. The company has a strong track
record of innovation and growth. It is well-positioned to continue to grow in the coming