|
ITC Limited will make its next investment in Andhra Pradesh, said Sanjiv Puri, Managing Director of the company and CII President, during the CII Annual Business Summit 2025 in the national capital.
"The next investment we make will be in Andhra Pradesh, and then you will hear about it very soon, Puri said, speaking with Andhra Pradesh Chief Minister Chandrababu Naidu in the concluding session of the industry body's annual business summit. "Chief Minister, it is with that thought in mind about the point you made on performance, we know it from the past. That is what motivated me to say we are going to invest because we have seen how you have transformed in the past, and we are seeing the speed with which Andhra Pradesh is now transforming, and this has all been very encouraging to all of us," said ITC's MD, talking to Naidu. ITC is one of India's foremost private sector companies with presence in Fast Moving Consumer Goods (FMCG), Packaging, Paperboards & Specialty Papers, Agri and IT businesses. The company has been investing heavily in the state across sectors. In the quarter that ended on March 31, the company delivered a resilient performance during the year amidst a challenging macroeconomic and operating environment. For FY25, Gross Revenue and EBITDA from Continuing Operations stood at Rs 73464.55 crores and Rs 24024.83 crores respectively. Profit Before Exceptional items and Tax stood at Rs 26000.86 crores. ITC's FMCG-Others segment delivered a resilient performance amidst weak demand conditions and the significant increase in competitive intensity from regional or local players. As per the company's statement, its businesses continue to leverage the power of digital to drive superior consumer insights & innovation, deepen consumer engagement and enhance brand loyalty. The Company's deep and wide multi-channel distribution network, with tailored channel-specific assortments, continues to sharply target opportunity areas through superior product availability and visibility. Focused investments continue to be made to enhance distribution infrastructure and drive penetration across markets. Addressing the summit, Andhra Pradesh CM invited industry's investments in the state, stating that this is the "right time" to invest in India's development. CM Naidu highlighted the state's strategic roadmap under the Swarna Andhra Vision 2047, focusing on accelerated economic growth, inclusive development, industrial resurgence, and innovation-led transformation. (ANI)
|
