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Tag: ITC

  • McKinsey pro makes atomic leap into venture capital

    McKinsey pro makes atomic leap into venture capital

    MUMBAI: Manish Jain has joined Atomic Capital as partner, swapping spreadsheets for seed rounds after nearly a decade at McKinsey & Co. The former associate partner at the blue-chip consulting firm will now hunt for high-conviction investments across India’s burgeoning startup landscape.

    At McKinsey Jain spent nearly four years as associate partner, following stints as engagement manager and associate. During his consultancy career, he advised leading conglomerates and high-growth businesses across logistics, e-commerce, industrials and technology sectors—experience that should prove valuable in his new venture capital role.

    Before donning the consultant’s hat, Jain cut his teeth at ITC, where he gained operational experience as assistant manager at the company’s second-largest food factory. There, he led a team of five functional heads managing a workforce of over 1,200 employees—reportedly becoming the firm’s youngest plant head.

    His relationship with ITC began during a summer internship in 2009, where he designed custom automation solutions that increased workforce productivity by 20 per cent at the company’s “ready-to-eat” food plant. The project impressed enough to secure him a pre-placement job offer.

    At Atomic Capital, Jain joins a firm that prides itself on backing founders “not just with capital—but with conviction, clarity, and company-building muscle.”

  • ITC seals Rs 3,500 crore deal for Century Pulp and Paper

    ITC seals Rs 3,500 crore deal for Century Pulp and Paper

    MUMBAI: ITC has inked a business transfer agreement to acquire the pulp and paper division of Aditya Birla Real Estate Ltd (ABREL) for Rs 3,500 crore. The deal, structured as a slump sale on a cash-free, debt-free basis, brings Century Pulp and Paper (CPP) into ITC’s fold, bolstering its footprint in the paper and packaging game.

    Established in 1984 in Lalkuan, Uttarakhand, CPP boasts an installed capacity of 4.8 lakh metric tonnes per year. With India’s paper demand growing at six to seven per cent annually and per capita consumption at a mere 16 kg (compared to the global average of 57 kg), ITC is betting big on the sector’s headroom for growth.

    This acquisition is a strategic masterstroke. ITC’s paperboards and specialty papers division, already a heavyweight with an annual output exceeding 1 million metric tonnes, will gain instant scale and efficiencies. A new production hub means better customer service, proximity to raw materials and, crucially, operational resilience. ITC plans to turbocharge CPP’s profitability with a mix of capacity de-bottlenecking, product upgrades, efficiency drives, supply chain tweaks, and procurement muscle.

    The deal is subject to regulatory nods, including clearance from the Competition Commission of India and the ministry of environment, forest and climate Change. It is expected to be wrapped up in about six months.

     ITC executive director B Sumant said: “This move strengthens our market position and unlocks fresh opportunities in both domestic and global markets. Our new asset aligns perfectly with our strategy to drive the next horizon of growth.”

    With this bold play, ITC is not just expanding—it’s redefining its game in paper and packaging.

  • ITC empowers Women across industries with HerStory campaign

    ITC empowers Women across industries with HerStory campaign

    MUMBAI: Marking International Women’s Day, ITC has launched the HerStory campaign, celebrating the vital role of women across science, agriculture, manufacturing, and entrepreneurship. This initiative underscores ITC’s commitment to gender equity by showcasing women breaking barriers across its diverse operations.

    The campaign kicks off with a video honouring women scientists at ITC’s Life Sciences and Technology Centre (LSTC) in Bengaluru, highlighting their contributions to innovation. With women making up nearly 47 per cent of LSTC’s workforce, ITC continues to challenge gender imbalances in STEM.

    ITC is also transforming shopfloors, with its Pudukkottai factory in Tamil Nadu employing 67 per cent women and the Khordha facility in Odisha operated entirely by women. These milestones reflect ITC’s efforts to increase female participation in the industrial sector.

    Beyond corporate spaces, ITC empowers women in agriculture through Itcmaars, facilitating over 1,700 Farmer Producer Organisations (FPOs), ensuring at least one female director in each, and forming 25 all-women FPOs. More than 7,500 women farmers have been supported, driving sustainable agribusinesses. Additionally, ITC’s Women-Managed Agri-Business Centres (WMABCs) have enabled over 6,000 rural women across 12 states to become entrepreneurs.

    At the grassroots, ITC’s women’s empowerment programme focuses on financial literacy, social security, entrepreneurship, and livelihood support. With over 6 million women benefiting from various initiatives including self-help groups, education, and health interventions the programme is fostering financial independence and community resilience.

    Watch the video here 
     

  • Golden Key Awards unlock excellence in market research with top honours

    Golden Key Awards unlock excellence in market research with top honours

    MUMBAI: The world of market research and insights had its moment in the spotlight as the Market Research Society of India (MRSI) hosted the Golden Key Awards 2024 on 21 February in Mumbai. Recognising trailblazers, innovators, and rising stars, the awards celebrated excellence across research, analytics, and storytelling—shedding light on the game-changers shaping business intelligence.

    From emerging talent to technological breakthroughs, the event honoured individuals and organisations that are redefining the way data drives decisions. Aadya Sinha (Third Eye Integrated Services) clinched the Best Researcher Under 30 title, while Datamatics Global Services took home The Most Humane Organisation Award for its people-first approach. Kantar made a double impact, winning Best Operations Team of the Year and Best Client Servicing Team of the Year, reinforcing its stronghold in research operations. Meanwhile, Flipkart & Myntra earned the title of Best Client Insight Team of the Year for their prowess in consumer analytics.

    Adding strategic depth to the evening, Indian Chess Grandmaster Viswanathan Anand took the stage in a riveting conversation with Shafali Arora (Hindustan Unilever Limited), drawing parallels between chess and leadership. Anand’s insights on decision-making, precision, and long-term vision offered the audience a masterclass in critical thinking.

    The second segment of the awards, powered by ITC, recognised pioneering research and innovation. Ipsos & Ikea bagged The Most Effective Storyteller Award, while Metrix Research & Analytics took home Best Data Collection Innovation. Hindustan Unilever Limited secured Best Research Methodology Innovation, and Datamatics Global Services was awarded Best Use of Technology for its AI-powered research solutions.

    A lifetime of contributions to the market research industry was honoured with Lifetime Achievement Awards presented to C.K. Sharma and Ashok Das, while Lalit S. Kanodia received a Special Award for his pioneering role in analytics and technology-driven insights.

    The final category, powered by Kantar, saw Hindustan Unilever Limited emerge as a dominant winner, securing multiple titles, including Best Work in Emerging Sectors, Best Business Impact Through Analytics, and Best Business Impact Through Research. Ipsos was recognised for Best Developmental Research, while Flipkart Internet Pvt. Ltd. clinched Best Communication Crafting Research for its excellence in shaping brand narratives.

    With support from industry giants like Hindustan Unilever Limited, Nestlé, ITC, Amazon, Datamatics, NielsenIQ, and TATA Consumer Products, the 6th edition of the Golden Key Awards was more than a night of recognition, it was a celebration of research’s transformative power. As the market research field continues to evolve, MRSI remains committed to fostering innovation and excellence, ensuring that data-driven insights continue to steer the future of business strategy.

  • ITC profit rises eight per cent as revenue hits Rs 18,953 crore in Q3 FY25

    ITC profit rises eight per cent as revenue hits Rs 18,953 crore in Q3 FY25

    MUMBAI: ITC has wrapped up the third quarter of FY25 on a strong note, delivering an eight per cent year-on-year (YoY) growth in gross revenue to Rs 18,953 crore, despite facing inflationary headwinds. The company’s diversified portfolio—spanning FMCG, agri-business, cigarettes, and paper—helped offset rising input costs in wheat, edible oil, and tobacco.

    The cigarette segment, ITC’s profit engine, recorded an 8.1 per cent YoY rise in net revenue, with segment profit before interest and tax (PBIT) up 4.1 per cent, aided by strategic portfolio interventions and premium offerings. FMCG (excluding cigarettes) grew four per cent YoY, driven by atta, spices, frozen snacks, and personal care products. The agri-business segment surged 9.7 per cent, powered by leaf tobacco and value-added agri exports, lifting PBIT by a robust 21.6 per cent.

    ITC’s paper and packaging business remained under pressure due to low-priced Chinese and Indonesian imports and rising domestic wood prices, though portfolio expansion and export growth provided some relief. Meanwhile, the recently demerged hotels business delivered its best-ever quarterly performance, with a 14.6 per cent YoY revenue jump to Rs 922 crore and a 43.4 per cent rise in PBT to Rs 302 crore, driven by weddings, retail, and F&B. The Hotels business was officially demerged into ITC Hotels Limited (ITCHL) with effect from 1st January 2025 and is now reported as ‘Discontinued Operations’ in line with Indian Accounting Standards.

    EBITDA for the quarter rose 3 per cent YoY, with a 4.5 per cent increase excluding the paper segment. Profit before tax (PBT) before exceptional items stood at Rs 6,847 crore, while profit after tax (PAT) reached Rs 5,638 crore. Earnings per share (EPS) for the quarter stood at Rs 4.51.

    The board has recommended an interim dividend of Rs 6.50 per share, reinforcing ITC’s strong shareholder returns. Looking ahead, the company remains optimistic, banking on premiumisation, strategic cost management, and sustained investments in emerging growth segments.

  • ITC makes a good catch with Prasuma frozen foods

    ITC makes a good catch with Prasuma frozen foods

    MUMBAI : It’s gotten hungry to grow and its gobbling up a company which has got urban food lovers smacking their chops in delight.

    Diversified FMCG giant ITC has sealed a definitive deal to acquire frozen, chilled, and ready-to-cook food brand Prasuma. Founded by the dynamic husband-and-wife duo Lisa Suwal and Siddhant Wangdi, Prasuma has innovated on several fronts, especially in the area of advanced freezing technology that locks in freshness.

    Prasuma has built a reputation with its premium, preservative-free frozen momos, which it then expanded to cover Pan-Asian cuisine and deli meats.

    The company has recorded consistent, profitable growth since inception, without external funding. Currently, Prasuma operates in over 100 cities across online and offline retail channels, as well as cloud kitchens.

    Its direct-to-consumer platform, Meatigo by Prasuma, offers a curated selection of exclusive products, with delivery times as short as 30 mins in major cities. Notably, Prasuma manufactures all its products in-house, ensuring stringent quality control and flavour authenticity.

    “We are immensely proud of what we have built and excited to partner with ITC for the next phase of growth. Consumer love and trust have always been our driving force. ITC shares our commitment to quality and innovation, making them the ideal partner. This collaboration is not just a business deal; it is the realisation of our lifelong passion for exceptional food,” said Prasuma & Meatigo CEO Lisa Suwal.

    Added COO Siddhant Wangdi: “Frozen food is undoubtedly the future. With Prasuma’s expertise in manufacturing and innovation, combined with ITC’s strength in distribution and brand-building, this partnership is poised to create immense value for consumers in India and beyond. Together, we aim to revolutionise the frozen food industry with quality, convenience, and exceptional taste.”

  • Sunfeast introduces ‘Wowzers’—A cracker with 14 layers of crunch & flavour!

    Sunfeast introduces ‘Wowzers’—A cracker with 14 layers of crunch & flavour!

    MUMBAI: Who knew a cracker could have a personality? Sunfeast just raised the snack-time stakes with the launch of ‘Wowzers’, a cracker that doesn’t just crunch—it crunches.

    With a whopping 14 crispy layers and two indulgent crème flavours, this game-changing treat is here to shake up the biscuit aisle. Forget ordinary crackers—these flaky, flavour-packed bites bring a bold, multi-textural experience, blurring the line between savoury and sweet.

    Consumer preferences are evolving, and crunchiness has become the holy grail of crackers. Sunfeast Wowzers delivers exactly that, with a unique enrobed cracker design that promises a melt-in-your-mouth yet satisfyingly crisp bite. Launching in two indulgent variants—Cheese Crème and Lemon Crème—Wowzers pairs bold flavour with a sprinkle of sugar for that extra oomph. Whether you’re a homemaker curating indulgent treats or a young adult looking for an on-the-go snack, this cracker doesn’t just deliver—it wows.

    To celebrate the launch, Sunfeast rolled out a high-energy advertising campaign, conceptualised by Ogilvy, featuring the tagline ‘Iske Har Bite Mein Hai Wow!’. The campaign taps into the over-the-top excitement that ‘Wowzers’ brings to snacking, mirroring its larger-than-life crunch factor.

    “Sunfeast Wowzers isn’t just a snack; it’s a full-blown sensory experience,” said ITC Ltd COO biscuits & cakes cluster, Ali Harris Shere. “We are redefining the cracker category by blending premium crunch with bold, delightful flavours that cater to evolving consumer tastes.”

    Ogilvy South CCO Puneet Kapoor added, “This cracker practically wrote its own script. With 14 flaky layers and a cheesy burst of flavour, Wowzers isn’t about subtlety—it’s about indulgence. Our campaign had to match that energy, so we went all out to showcase the snack’s larger-than-life appeal.”

    Sunfeast Wowzers has hit shelves in Tamil Nadu, Kerala, Maharashtra, Andhra Pradesh, Telangana, West Bengal, and Gujarat, with plans for a nationwide rollout. Consumers can find ‘Wowzers’ in general trade, modern retail, quick-delivery platforms, and the ITC Store.

    Available in two convenient sizes, a 16 gm pack at Rs 5 and a 128 gm pack at Rs 60, these crispy delights are easy on the pocket but rich in flavour.

    Craving a bite already? Order now: ITC Store

  • ITC Aashirvaad celebrates Chhath Puja with Madhubani art

    ITC Aashirvaad celebrates Chhath Puja with Madhubani art

    Mumbai: ITC Aashirvaad has partnered with renowned Madhubani artist Padma Shri Dulari Devi to celebrate Chhath Puja. Dulari Devi led a Madhubani art workshop for budding artists and enthusiasts, promoting a deeper appreciation for this traditional art form.

    Aashirvaad has also launched limited-edition atta packs featuring a Madhubani painting by Dulari Devi, depicting Chhath Puja rituals. The pack includes a QR code with insights into the festival’s heritage, rituals, and significance.

    To engage the community, Aashirvaad has announced a UGC contest from 4 November to 4 December, inviting participants to submit their Madhubani artwork for a chance to win rewards. To enter, participants can give a missed call to 7097299717 and share their artwork.

    ITC COO, staples & adjacencies Anuj Rustagi said, “We are excited to be a part of this cherished festival and proud to collaborate with Padma Shri Smt. Dulari Devi for this unique initiative. Her exceptional talent and profound connection to Madhubani art inspires many in this region. With this initiative we wish to encourage the young generation to embrace and carry forward these artistic practices.”

    Indian artist and illustrator Padma Shri Dulari Devi said, “I am thrilled to have collaborated with ITC Aashirvaad for Chhath Puja. From designing the festive pack to interacting with upcoming artists, it has truly been an enriching experience. Initiatives like this not only celebrate the spirit of Chhath Puja but also help keep the essence of Madhubani art alive for future generations.”

    Aashirvaad, known for its purity and quality, upholds traditions that bring families together. Committed to excellence, it guarantees zero per cent maida in its products, using only carefully selected grains and a hand-free packaging process to maintain hygiene and purity.

    The limited-edition packs are available in stores across Bihar and Jharkhand.

  • Pizza Hut partners with ITC to add Sunfeast Dark Fantasy & mango beverages

    Pizza Hut partners with ITC to add Sunfeast Dark Fantasy & mango beverages

    Mumbai: Pizza Hut and ITC unite for the first time in an exciting collaboration that adds popular Sunfeast beverages, Dark Fantasy milkshake and mango smoothie, to the Pizza Hut menu. The partnership brings together two culinary giants, aiming to enhance the dining experience for food lovers across India with innovative, high-quality additions that cater to evolving consumer tastes.

    Timed perfectly with the festive season, the addition of these indulgent Sunfeast beverages offers a special touch to celebrations. Whether customers are gathering for Diwali or upcoming festivities, the new drinks pair seamlessly with Pizza Hut’s delicious meals. The Dark Fantasy milkshake blends the rich flavors of Sunfeast Dark Fantasy and Belgian chocolate for a creamy treat, while the Mango smoothie combines the sweetness of ripe mangoes with a refreshing tropical twist.

    Pizza Hut India, managing director, Rohan Pewekar shared his excitement: “We are thrilled to broaden our offerings through this partnership with ITC.  The shakes perfectly complement our menu and the moments our customers cherish—whether it’s unwinding with colleagues after work, enjoying a cozy meal with family and kids, or celebrating occasions with friends. Launching these products during the festive season makes these shared experiences even more special.”

    ITC Foods vice president & head – dairy and beverages, Vivek Kookkal added: “Consumer preferences are at the core of all our initiatives and it is our constant endeavour to facilitate unique consumer experiences. With this partnership we are delighted to offer two of our most loved beverages that will perfectly pair with indulgent Pizza Hut dishes. Further, this collaboration is a reflection of  synergies between the two leading food brands  to provide unmatched  experience to the consumers.”

     

  • Hoopr launches Hoopr Brand Solutions

    Hoopr launches Hoopr Brand Solutions

    Mumbai: Hoopr, known for its tech-driven music licensing solutions, has launched Hoopr Brand Solutions (HBS), a new division to enhance its B2B offerings. HBS combines Hoopr’s platform, music library, and creator network to provide music-led, integrated brand solutions, positioning itself as India’s only entity focused on using music for strategic branding.

    Led by Meghna Mittal (co-founder & CRO), Kartikeya Haritwal (sales head), and Alok Kaul (creative lead), with guidance from Gaurav Dagaonkar (co-founder & CEO), HBS aims to collaborate with brands and their agencies to incorporate music into creative strategies for launch, awareness, promotions, and engagement.

    “At Hoopr, we’ve always been passionate about empowering creators and brands with high-quality music,” said Hoopr co-founder and CEO Gaurav Dagaonkar. “Brands, today, are actively looking to use music as a medium to connect with their audiences and with HBS, we’re bringing together all the elements of our ecosystem to offer our clients a comprehensive bespoke solution for higher engagement through music. It is like a brand having its own label and music strategy that suits its positioning and TG, completely powered by Hoopr.”

    HBS will leverage Hoopr’s 250,000-plus artist and creator network to provide brands with cost-effective, quick turnaround services for songs, brand anthems, and music videos across multiple languages and genres. It will also handle music distribution on streaming platforms and amplify content on social media platforms like Instagram, YouTube, and Snap via its creator community. Additionally, HBS has partnered with the YouTube music channel Songfest for expanded reach and engagement.

    The company believes that music-led campaigns deliver higher organic engagement and brand recall compared to traditional advertising.

    “Music and music videos are the most consumed forms of entertainment today, which is why brands are increasingly integrating them into their marketing strategies,” said Hoopr co-founder & CRO Meghna Mittal. “With Hoopr Brand Solutions, we aim to help brands unlock that potential through campaigns that are not only impactful but measurable and long-term. We want to shift the mindset that only large brands or specific categories can leverage music strategy—music is a universal format that resonates across categories, builds an emotional connect and contrary to popular belief, is extremely cost-effective.”

    Mittal elaborated, “Much like influencer marketing has become a staple for brands, we believe music marketing is the next frontier. It’s time for every brand to have a year-round music strategy.”

    HBS has already partnered with major brands and agencies like Himalaya, Myntra, ITC, and Motivator World, and worked with artists such as Monali Thakur, Nikita Gandhi, Shaan, and various independent artists.

    Gaurav Dagaonkar’s experience as an award-winning music director and IIM Ahmedabad alumnus strengthens Hoopr’s credibility in music marketing. Hoopr combines expertise in music, technology, and community engagement, positioning itself as a leader in the Indian market.

    By tapping into the ₹3,500 crore creator market and the growing ₹40,000 crore digital advertising market, HBS is becoming a key player in the advertising ecosystem. Its data-driven approach, supported by its tech platform, creator network, and ad-ex insights, promises measurable ROI for brands through music-driven solutions. Hoopr aims to build lasting intellectual properties through collaboration with brands and creators.