Founded in 1910, ITC Limited stands as one of India’s biggest conglomerates. It has spread its wings into various sectors such as tobacco manufacturing, food processing, retail, and financial services.
Originally, the company’s name, ITC, was short for Imperial Tobacco Company of India Limited. Later, in 1970, it was renamed as India Tobacco Company Limited, and abbreviated to I.T.C Ltd in 1974. Now, it is known simply as ‘ITC Limited’.
Basic Information About ITC Limited
| Year Of Establishment | 1910 |
| ITC Founder | British-owned company registered in Kolkata |
| Headquarters | Virginia House, Kolkata, West Bengal, India |
| Leading Team | Sanjiv Puri (Chairman & MD) |
| Market Capitalization | Over ₹4,38,601Cr approx. |
| No. Of Employees | Over 36,500 approx. |
| Number Of Countries Present In | 90 Countries (6 million retail outlets) and 60 Locations in India |
ITC Company History
ITC Limited, a leading diversified company in India, operates across various sectors including FMCG, Hotels, Packaging, Paperboards, Specialty Papers, and Agri-Business. Notably, it has been recognized as one of the most profitable FMCG companies in India.
Here’s a brief timeline of ITC’s history and expansion:
- 1910: Established as a Private Limited Company under Imperial Tobacco Co. of India Ltd.
- 1953: Acquired the manufacturing business of Tobacco Manufacturers (India) Ltd.
- 1954: Converted into a Public Limited Company.
- 1970: Renamed from Imperial Tobacco Co. of India Ltd. to India Tobacco Co. Ltd.
- 1972: Entered the hotel business.
- 1973: Received approval for setting up three processing plants.
- 1974: Renamed as ITC Ltd.
- 1975: Purchased assets of the India Leaf Tobacco Development Co. Ltd.
- 1979: Renamed hotel chain from “Welcome Hotels” to “Welcomgroup.”
- 1983: Established Gujarat Hotels and set up Welcomegroup Vadodara hotel.
- 1986: Signed a joint venture agreement to set up four hotels.
- 1987: Introduced new cigarette brands and acquired Nedovs Hotel, Srinagar.
- 1988: Launched oilseeds under “ADARSH” and cooking oil under “SUNDROP.”
- 1990: Introduced refined mustard oil under “REAL GOLD.”
- 1993: Successfully launched Hero and Classic Milds brand Cigarettes.
- 1995: Introduced new cigarette variants and redesigned existing brands.
- 1996: Launched new cigarette brands.
- 1997: Signed agreement with ICICI Ltd. for ITC Classic Finance Ltd.
- 1998: Had nearly 105 subsidiaries involved in various operations.
- 2000: Established Lifestyle Retailing Business Division and launched Wills Sport.
- 2003: Launched Spriha brand of natural incense sticks and salt under “Aashirvaad” brand.
- 2008: Introduced eco-friendly “Paperkraft Premium Business Paper.”
- 2010: Ventured into the fairness cream market.
- 2011: Mr. Y C Deveshwar, Chairman of ITC Ltd, honored with Padma Bhushan.
- 2012: Launched Skin Nourishing Range of Soaps under Vivel brand.
- 2014: Replaced TCS as India’s most admired company and entered e-cigarette business.
- 2017: Contributed to Swachh Bharat initiatives.
- 2022: Achieved Gross Sales Value of ₹90,104 crores and Net Profit of ₹15,058 crores.
This timeline showcases ITC’s journey of growth and diversification across multiple industries over the decades.
ITC Limited Subsidiaries
| S.No. | Company Name | Industry |
| 1. | ITC Infotech | Technology |
| 2. | Srinivasa Resorts Limited | Hospitality |
| 3. | Surya Nepal Private Limited | Cigarettes, Safety Matches, Agarbatti, and Confectionary |
| 4. | Fortune Park Hotels Limited | Hospitality |
| 5. | Landbase India Limited | MCA Provider |
| 6. | Welcomhotels Lanka (Private) Limited | Hospitality |
| 7. | Russell Credit Limited | Investment Company |
| 8. | Technico Pty Limited | Supply Chain Solutions |
ITC Limited Subsidiaries: OverviewTop of Form
- ITC Infotech:
A leading IT company in India, offering software development, web development, mobile application development, and digital marketing services. It has over 500 employees across India and abroad, focusing on quality work, customer satisfaction, and innovation.
- Srinivasa Resorts Limited:
A luxury resort chain, majority-owned by ITC, offering luxurious experiences including spa facilities, restaurants, and recreational activities like snorkelling and kayaking.
- Surya Nepal Private Limited:
A manufacturing and exporting company headquartered in Nepal, with products including cigarettes, garments, and safety matches, exporting to multiple countries.
- Fortune Park Hotels Limited:
A hotel chain providing affordable luxury accommodations at tourist destinations across India, with 47 hotels and resorts.
- Landbase India Limited:
Owns classic goals and a country club near Delhi, offering recreational facilities.
- Welcomhotels Lanka (Private) Limited, Sri Lanka:
Wholly owned by ITC, this subsidiary is focused on constructing and operating a luxury hotel project in Colombo.
- Russell Credit Limited:
A financial services company offering credit cards, loans, and other financial products, with investments in FMCG, Hotels, Paper, Paperboards, Packaging, Agri-Business, and Information Technology.
- Technico Pty Limited:
A subsidiary specializing in Agri biotech, owning the technology of Technituber and commercializing such technologies globally.
Conclusion
ITC Limited, headquartered in Kolkata, India, is a diversified conglomerate operating in FMCG, Hotels, Packaging, Paperboards, Specialty Papers, and Agri-Business sectors. Listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE), ITC is renowned for its global presence and diverse investments. Its broad portfolio offers opportunities for market entry and expansion on a global scale, making it an attractive option for businesses looking to venture into international markets.