ITC shares on Wednesday hit a new 52-week peak of Rs 299.50 apiece amid the company’s Annual General meeting (AGM).
Diversified conglomerate ITC Limited on Wednesday said that the company will continue to deliver robust growth despite key concerns such as inflation.
Speaking at the company’s AGM virtually, CMD of ITC Sanjiv Puri said that in the FMCG space, the firm has nurtured 25 brands and the newer ones will garner an annual consumer spend of Rs 24,000 crore.
The company will also fortify and scale up new mega brands while investing in categories of the future, he said.
“Today, it is immensely encouraging that your company’s newer FMCG Businesses have garnered an annual consumer spend of Rs 24,000 crore. The carefully selected portfolio, with substantial headroom to grow, is estimated to have a total addressable market potential of Rs 5,00,000 crore by 2030, which is amongst the highest in the Indian FMCG space,” he said.
ITC launched 110 products during the year, Puri said adding that the company’s future-ready and purpose-driven businesses and brands are well poised to seize the opportunities and make a meaningful contribution to the national priorities.