ITC Limited

What does ITC own?
ITC owns over 25 consumer brands across FMCG categories including Aashirvaad (wheat flour), Sunfeast (biscuits), Bingo (snacks), Fiama (personal care), Vivel (soaps), Engage (deodorants), Classmate (stationery), and 24 Mantra Organic (organic foods). The company also owns cigarette brands including Gold Flake and Navy Cut. ITC Hotels was demerged into a separately listed entity in 2024-2025, though ITC Limited retains a significant stake.

Is ITC publicly traded?
Yes, ITC Limited is publicly traded on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) under the ticker symbol ITC. The company has been listed on Indian stock exchanges for decades and is one of the most widely held stocks in India, included in major indices including the Nifty 50.

Who founded ITC?
ITC was founded in 1910 as the Imperial Tobacco Company of India Limited, a subsidiary of British American Tobacco (BAT). The company was established to manufacture and distribute cigarettes in India during the British colonial period. It has since evolved into a diversified conglomerate across FMCG, agribusiness, paperboards, and hospitality.

Where is ITC headquartered?
ITC is headquartered at Virginia House, 37 Jawaharlal Nehru Road, Kolkata 700 071, West Bengal, India. The company has maintained its headquarters in Kolkata since its founding in 1910. Kolkata is the capital of West Bengal and was the capital of British India until 1911.

How many brands does ITC own?
ITC owns over 25 consumer brands across FMCG categories. Its brands represent a consumer spend of over Rs. 37,000 crore. Major brands include Aashirvaad, Sunfeast, Bingo, Fiama, Vivel, Engage, Classmate, Mangaldeep, and Aim. The company also markets multiple cigarette brands including Gold Flake, Navy Cut, and Scissors.

Who owns ITC?
ITC is publicly owned with no controlling shareholder. British American Tobacco (BAT) was historically the largest shareholder but reduced its stake in 2024. Other major shareholders include Life Insurance Corporation of India (LIC), domestic mutual funds, and foreign institutional investors. No single shareholder holds a controlling interest.

What is ITC's revenue?
For the fiscal year ended 31 March 2026, ITC reported standalone gross revenue of Rs. 80,867 crore (approximately $9.7 billion), up 10.1% year over year. EBITDA was Rs. 25,208 crore, up 4.9%. Earnings per share was Rs. 16.20. The total dividend for FY2026 was Rs. 14.50 per share.

ITC Limited was founded in 1910 as the Imperial Tobacco Company of India Limited, a subsidiary of British American Tobacco (BAT). The company was established to manufacture and distribute cigarettes in India under the British colonial system. The early decades were focused entirely on tobacco products, with the company building manufacturing facilities and distribution networks across India.

Following India's independence in 1947, ITC continued as a cigarette manufacturer while beginning to diversify. The company changed its name to India Tobacco Company Limited in 1970 and later to I.T.C. Limited in 1974, reflecting its broadening business scope beyond tobacco. The gradual name change signaled the company's strategic shift toward becoming a diversified conglomerate.

In the 1970s and 1980s, ITC expanded into hotels, establishing ITC Hotels as one of India's premier luxury hotel chains. The company also entered the paperboards and packaging business, leveraging its manufacturing expertise. The diversification strategy was driven by recognition that the tobacco industry faced long-term regulatory and social pressures, and that building alternative revenue streams was essential for long-term sustainability.

The 1990s and 2000s saw ITC launch its FMCG-Others business, introducing brands including Aashirvaad (wheat flour), Sunfeast (biscuits), Bingo (snacks), Fiama (personal care), Vivel (soaps), and Engage (deodorants). The company also entered the education and stationery segment with its Classmate brand. These brands were built using ITC's extensive distribution network, originally established for cigarette sales, which gave the company reach into both urban and rural retail outlets across India.

ITC's agribusiness division grew to become a significant exporter of agricultural products, particularly leaf tobacco, but also including spices, coffee, and other commodities. The company developed an e-Choupal network, a rural digital infrastructure initiative that connected farmers directly with market information and procurement systems, reducing intermediation costs and improving farmer realizations.

In 2024, British American Tobacco (BAT) undertook a significant reduction of its stake in ITC through a block trade on the Indian stock exchanges. BAT had held a substantial stake in ITC for decades, dating to the company's origins as a BAT subsidiary. The stake sale reduced BAT's holding and increased the free float of ITC shares, though BAT remained a significant shareholder.

ITC Hotels was demerged into a separate listed entity during the 2024-2025 period, with the demerger completed in 2025. ITC shareholders received shares in the new ITC Hotels entity, which is now independently listed on Indian stock exchanges. ITC Limited retains a significant stake in ITC Hotels following the demerger.

During FY2026, ITC amalgamated two wholly owned subsidiaries, Wimco Limited (matches and agarbattis) and Sresta Natural Bioproducts Private Limited (24 Mantra Organic foods), with the parent company. The amalgamations were approved by the National Company Law Tribunal and became effective from their respective appointed dates (1 April 2025 for Wimco and 13 June 2025 for Sresta).

ITC has a strong sustainability record, built over two decades of investment in environmental and social programs. The company claims to have been carbon positive for over 17 years, water positive for over 20 years, and solid waste recycling positive for over 18 years, though these claims are based on the company's own reporting and methodology.

ITC's sustainability program spans multiple areas including renewable energy, water conservation, afforestation, sustainable agriculture, and livelihood creation. The company has invested in wind and solar power generation capacity and has implemented water management structures across its operational areas.

The company's e-Choupal initiative, launched in 2000, is one of India's largest rural digital infrastructure programs. The network provides farmers with market information, weather forecasts, and procurement services, reducing information asymmetry and improving farmer realizations. The initiative has been studied by business schools and development organizations as a model for rural value chain integration.

ITC publishes an annual Sustainability Report with independently assured performance data. The company is included in the Dow Jones Sustainability Index (DJSI) and has received recognition from various ESG rating organizations.

However, ITC's cigarette business remains a fundamental tension in its sustainability profile. The company derives a significant portion of its profit from tobacco products, which are associated with health harms. This has led to criticism from public health advocates, who argue that ITC's sustainability initiatives do not offset the negative health impact of its core tobacco business.

ITC's cigarette business is subject to extensive regulation in India, including high excise duties, advertising bans, mandatory health warnings on packaging, and restrictions on smoking in public places. The company has faced criticism from public health organizations for its tobacco operations.

The illicit cigarette trade in India is estimated to account for a significant portion of total cigarette consumption, driven by the high tax differential between legal and illicit products. ITC has advocated for stricter enforcement against illicit trade, arguing that it undermines tax revenue and public health objectives.

In 2024, BAT's reduction of its stake in ITC was a significant corporate event. The stake sale was driven by BAT's own strategic priorities and reduced ITC's association with its former parent company, though BAT remained a shareholder.

ITC has faced periodic regulatory scrutiny regarding its cigarette pricing and market practices. The company has also been subject to competition law investigations in certain business segments, though no major adverse findings have been reported in recent years.

The demerger of ITC Hotels in 2024-2025 was a significant corporate restructuring that required regulatory approvals from the Securities and Exchange Board of India (SEBI), the National Company Law Tribunal (NCLT), and stock exchanges. The demerger was completed without major regulatory objections.