ITC reported a 12% rise in consumer spending on its FMCG products, reaching nearly ₹32,500 crore in FY24. Over 25 crore households now use ITC’s brands. The company’s annual consumer spending calculation includes net sales turnover, channel margins, and taxes.
ITC’s FMCG portfolio, with over 25 major Indian brands primarily developed through organic growth, has expanded to nearly ₹32,500 crore, up from ₹29,000 crore the previous year. Its reach has grown from 23 crore to 25 crore households.
The FMCG segment, covering branded packaged foods, personal care items, stationery, incense sticks, and safety matches, has seen significant growth. Leading brands include Aashirvaad in branded atta, Bingo in snacks, Sunfeast in cream biscuits, Classmate in notebooks, YiPPee in noodles, Fiama in body wash, and Mangaldeep in agarbattis.
Despite subdued overall consumption demand, especially in rural areas and value segments due to economic challenges and inflation, ITC’s FMCG businesses outpaced industry growth in both urban and rural markets. This success was driven by consumer insights, innovation, premiumisation, strategic portfolio augmentation, and effective execution of channel-specific plans.
The FMCG segment reported ₹20,966.83 crore in revenue, a 9.6% increase from the previous year. Segment EBITDA grew by 19.7% to ₹2,338.50 crore, with margins improving by 94 basis points due to premiumisation, supply chain efficiency, cost management, and strategic pricing actions.
ITC remains confident in scaling up its FMCG businesses by leveraging its strong portfolio, consumer insights, innovation, and resilient supply chain. The company plans to continue using its institutional strengths, including strong agri business linkages, a wide distribution network, hotel business expertise, leading packaging knowledge, and R&D capabilities from its Life Sciences and Technology Centre. For FY24, ITC’s gross revenue was ₹69,446 crore.
