- Indian uniqueness to the food
- Hope in new business
Dishes that can be used with hot water and cooked in a small way are preferred. ITC said it will launch breakfast segments including rye, wheat and semolina. Hemant Malik, head of the food business, said. Sections made with nuts, aval and a variety of grains will also be presented. With the new business, the company will compete with brands such as Kellogg, Nestle, MTR and Jitz Food. Currently, the company launches atta, salt, pulses and ghee products under the Ashirwad brand.
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Hemant said the ready-to-cook food segment is of great importance in a fast-moving world, especially at a time when concessions are being announced. The company is also credited with the market acceptance of ready-to-cook products. Investors are looking forward to the move to focus on the non-cigarette segment as well. During the second quarter of the current financial year, ITC launched non-cigarette FMCG products. Revenue from business is 27% of total revenue. Revenue from the cigarette business, meanwhile, is 38 percent.
The Economic Times estimates that the breakfast market in India has a combined annual growth rate of 12% and a revenue potential of over Rs 100 crore. In the ready-to-cook category, Idli Sambar, Upma, Instant Aval, Instant Halwa, Idli and Dosha Instant Mixes have been released. The company aims to incorporate Indian cuisine into breakfast, avoiding western cereals such as oats.
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The company’s decision to focus on more areas is expected to be reflected in the stock market. Indications are that big projects are being lined up as part of the network expansion. Currently ITC 226 per share. The 52-week low is Rs 192.40 and the high is Rs 265.30. The company has a market cap of Rs 2.80 lakh crore with a dividend of 4.73 per cent. The company, which has yet to make great strides, is reportedly promising the future. The stock has gained 7.68 per cent in six months and 17.15 per cent in one year. It was this poor performance that prompted management to focus on the non-cigarette business as well.