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ITC Tops FMCG Foods Sales, Overtaking Competitors in India

8 Dec 2023 , 01:44 PM

ITC's success is attributed to the favorable market dynamics, with increased atta prices and its packaged atta, Aashirvaad brand, being a major revenue contributor to the food business.

ITC Ltd claims the top spot in India's FMCG foods sector by domestic sales, outperforming rivals like Britannia, Adani Wilmar, Parle Products, and others.

Recorded food FMCG sales for ITC during the nine months ending September reached Rs 17,100 crore, marking a significant rise from its fourth position in the same period the previous year.

Adani Wilmar, which led the market last year with sales of Rs 16,100 crore during January-September, faced a decline in revenue due to the substantial fall in edible oil prices, dropping to less than $1,000 per tonne in September from a peak of $2,000 per tonne in April-May 2022.

ITC's success is attributed to the favorable market dynamics, with increased atta prices and its packaged atta, Aashirvaad brand, being a major revenue contributor to the food business.

Bolstering its growth trajectory, ITC continuously introduces over 100 food FMCG products annually, reflecting the diverse and expanding nature of its product portfolio.

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19 Feb 2024   |   09:29 AM
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