In the past three years, ITC’s Fast-Moving Consumer Goods (FMCG) business has witnessed significant growth, boasting a compounded annual growth rate (CAGR) of 14%, according to a company presentation. The Aashirvaad brand, a key player in ITC’s FMCG portfolio, has achieved a remarkable milestone by reaching Rs 8,000 crore in consumer spends.
ITC proudly positions itself as one of the fastest-growing FMCG businesses in India, attributing its rapid revenue scale to brands developed in-house. The company’s FMCG products now have a presence in three out of four households in India, showcasing the widespread adoption of its offerings.
Over the past decade, ITC’s foods business has demonstrated a CAGR of 13%, achieving threefold growth in the last 10 years. Notably, the Sunfeast brand has surpassed Rs 5,000 crore in terms of consumer spends, highlighting its strong market presence. Other successful brands within the ITC FMCG portfolio, including Bingo snacks, Yipee instant noodles, Mangaldeep Agarbatti, Classmate stationery, and Sunrise spices, have all crossed Rs 1,000 crore in consumer spends.
ITC measures annual consumer spend as the sum total of what consumers spend on purchasing the company’s goods, encompassing net sales turnover, channel margins, and taxes. The company is actively expanding the Aashirvaad brand’s presence in kitchens through diverse product adjacencies, offering a range of atta, ghee, salt, spices, and instant mixes.
Emphasizing the creation of new vectors of value addition, ITC has successfully up-traded consumers and positioned Aashirvaad as the leading branded packaged atta across the country since its inception in May 2002.
With over 25 world-class mother brands in the FMCG segment, ITC has achieved a consumer spend of Rs 29,000 crore in FY23. The company introduced 300 new products in the FMCG segment over the last three years, extending its total reach to 7 million outlets and directly engaging with 2.6 million households.
ITC is actively scaling up MasterChef and incubating chocolate products. In the personal wash segment, ITC identifies itself within a Rs 24,000 crore industry with the presence of 3,000 brands. Fiama, one of its brands, stands out for its over-indexed presence on new-age distribution channels. Savlon, acquired in 2015, has exhibited remarkable growth, nearly 10 times in the last six years, within the hygiene product category.
