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Pm Report

In: Business and Management

Submitted By 12w34
Words 4926
Pages 20
Market capitalisation, which stood at Rs 5,570 crores in 1996, has multiplied over 50 times to around Rs 2,90,000 crores.

It gives me much pleasure to welcome you to the 102nd Annual General Meeting of your Company. I am sure you share my sense of satisfaction at yet another year of robust growth of your Company. This performance is even more heartening given the challenging circumstances in the global economy and the slowdown in India. It also bears testimony to the robustness of your Company's strategy of pursuing multiple drivers of growth. This portfolio of traditional and greenfield businesses has built a strong foundation to power the ITC of tomorrow and create enduring value for the Indian society. As in earlier years, I would like to first present to you the highlights of your Company’s Triple Bottom Line performance for the year gone by. ITC: Triple Bottom Line Performance Gross Revenue for the year grew by 19.9% to over Rs 41,800 crores. Net Revenue at over Rs 29,600 crores was primarily driven by a 26.4% growth in both the non-cigarette FMCG as well as the Agri business segments. Profit before tax increased by 20.1%, crossing the Rs 10,000 crore milestone, while Net Profit grew by 20.4% to over Rs 7,400 crores. The non-cigarette segment net revenue has grown 14-fold from about Rs 1,360 crores in 1996 to nearly Rs 19,500 crores in FY13. As a result, 58% of net segment revenue of your Company is now from businesses other than cigarettes. Apart from being the country's leading FMCG marketer, your Company is also the clear market leader in the Indian Paperboard and Packaging industry, a globally acknowledged pioneer in farmer empowerment through its wide-reaching Agri Business, the second largest Hotel Chain in India and a trailblazer in 'green hoteliering'. Your Company's wholly-owned subsidiary, ITC Infotech, is one of India's fast-growing IT companies in…...

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