ITC to invest Rs 20,000 crore in five years

NEW DELHI: FMCG-to-hotel conglomerate ITC will be investing Rs 20,000 crore over the next five years to enhance structural competitiveness and build an enterprise for the future.

About 35–40% of this will be spent on FMCG business, while 30% is planned for paperboard and packaging. The remaining will be spent on agriculture and other businesses.

“Despite the headwinds, the investments made across all our businesses to enhance structural competitiveness and build an enterprise of the future, position ITC well to leverage emerging opportunities in the market. Our confidence in the India story is unwavering and is reflected in ITC’s investment outlay of about Rs 20,000 crore in the medium term,” said ITC CMD Sanjiv Puri on Friday.

The Kolkata-headquartered company reported gross revenue of Rs 69,446 crore in FY24 and a profit of Rs 20,422 crore. For ITC, non-cigarette revenue now accounts for about 65% of net revenue.