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Indian Tobacco Co. (ITC)

Indian Tobacco Co. (ITC)

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Published by Sanjay Shah

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Published by: Sanjay Shah on Nov 23, 2011
Copyright:Attribution Non-commercial


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Introduction :
Type: Public (BSE:ITC)Founded: 24 August 1910Radha Bazaar Lane, Kolkata, India
Headquarters: Kolkata, India
Key people: Yogesh Chander Deveshwar, Chairman K. Vaidyanath,
 Director,Partho Chatterjee, CFOIndustry: Tobacco, foods, hotels, stationery, greeting cards
Products: Cigarettes, packaged food, hotels, apparel
Employees: over25,000 (2009)
Website: http://www.itcportal.com/
Forbes Global 2000 List: 987 rank (2009)
Sales ($ billion): 3.65
Profits($ billion): 0.79
Assets($ billion): 4.43
Market Value($ billion): 13.48
Incorporated on 24 August 1910 as the Imperial Tobacco Company of India Limited,the company's name was changed to ITC Limited in 1974. This company is ratedamong the 'World's Best Big Companies' by Forbes magazine. ITC ranks third on allmajor profit parameters among India's private sector corporations. ITC employs over 20,000 people at more than 60 locations across India. ITC is one of India's foremostprivate sector companies with a market capitalization of over US $ 13 billion and aturnover of US $ 3.5 billion.
ITC's unique e-Choupal initiative began in 2000. ITC e-Choupal, the largest Internet-based intervention in rural India, empowers over 3.5 million farmers in 35,000villages. It enables them to readily access crop-specific, customized informationthrough vernacular websites. The service also creates a two-way direct marketingchannel for rural India, eliminating wasteful intermediation and multiple handling.BusinessITC has a diversified presence in cigarettes, hotels, paperboards and specialtypapers, packaging, agri-business, packaged foods and confectionery, brandedapparel and greeting cards. ITC's agri-business is one of India's largest exporters of agricultural products. A wholly-owned subsidiary, ITC InfoTech India Limited,provides end-to-end IT solutions, including e-enabled services and business processoutsourcing.About ITC FoodsThe 'Foods Division' is the most recent diversification of the ITC Group. ITC'sdecision to enter the foods business is part of a strategic decision to develop newproduct lines by synergizing its core competencies in building brands, understandingthe Indian consumer's requirements and its strong distribution network as well as itsestablished culinary expertise.
Sustain ITC's position as one of India's most valuable corporations through worldclass performance, creating growing value for the Indian economy and theCompany’s stakeholders
:To enhance the wealth generating capability of the enterprise in a globalisingenvironment, delivering superior and sustainable stakeholder value
As one of India's most valuable and respected corporations, ITC is widely perceivedto be dedicatedly nation-oriented. Chairman Y C Deveshwar calls this source of inspiration "a commitment beyond the market". In his own words: "ITC believes thatits aspiration to create enduring value for the nation provides the motive force tosustain growing shareholder value. ITC practises this philosophy by not only drivingeach of its businesses towards international competitiveness but by also consciouslycontributing to enhancing the competitiveness of the larger value chain of which it isa part."ITC's diversified status originates from its corporate strategy aimed at creatingmultiple drivers of growth anchored on its time-tested core competencies:unmatched distribution reach, superior brand-building capabilities, effective supplychain management and acknowledged service skills in hoteliering. Over time, thestrategic forays into new businesses are expected to garner a significant share of these emerging high-growth markets in India.ITC's Agri-Business is one of India's largest exporters of agricultural products. ITC isone of the country's biggest foreign exchange earners (US $ 2.4 billion in the lastdecade). The Company's 'e-Choupal' initiative is enabling Indian agriculturesignificantly enhance its competitiveness by empowering Indian farmers through thepower of the Internet. This transformational strategy, which has already become thesubject matter of a case study at Harvard Business School, is expected toprogressively create for ITC a huge rural distribution infrastructure, significantlyenhancing the Company's marketing reach.ITC's wholly owned Information Technology subsidiary, ITC Infotech India Limited, isaggressively pursuing emerging opportunities in providing end-to-end IT solutions,including e-enabled services and business process outsourcing.ITC's production facilities and hotels have won numerous national and internationalawards for quality, productivity, safety and environment management systems. ITCwas

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