Sanjiv Puri shares some key insights

ITC‘s Chairman and MD, Sanjiv Puri has shared the following –

  • Indian FMCG industry will bounce back by volume sales growth from FY24, led by rural demand, with early signs of recovery already visible.
    • concerns around monsoons this year can be a dampener (he didn’t mention it)
  • ITC will accelerate investments across businesses back to the pre-covid level of Rs 3,000 per year.
    • During Covid, ITC’s annual investments had reduced to Rs 1,800- 2,150 crore annually.
    • Investments will be focused across businesses on setting up new plants/ facilities
  • Plans to create an alternate structure for the hotel business will be undertaken in the next couple of quarters with the industry’s performance improving.
    • This may mean demerging the hotels business, a plan that had been delayed since the sector was badly hit by Covid.
    • Puri also mentioned that while the Company is pursuing an asset-right strategy for the hotels business, the focus is more on management contracts.
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