ITC bets on protein, fibre and Rs 20,000 cr capex to crown FMCG arm over cigarettes
Chairman Sanjiv Puri is reshaping ITC around health-led packaged foods, targeting first-time buyers and GLP-1 users via Aashirvaad, Sunfeast and Yoga Bar. A Rs 20,000 cr capex, 70 kitchens across 5 cities and 32% 3-yr FMCG export CAGR back the push to cut reliance on cigarettes, which still deliver 82% of EBITDA.
What happened
ITC chairman Sanjiv Puri outlines push into protein- and fibre-rich packaged foods to capture first-time buyers and GLP-1 users, alongside Rs 20,000 crore
Key facts
- 41% cigarette turnover share
- 82% EBITDA from cigarettes
- Rs 20,000 crore capex
- 70 kitchens across 5 cities
- FMCG exports 32% 3-yr CAGR
- 740 bps margin expansion
- 80-100 bps annual margin target
Why this matters
ITC's GLP-1 and first-time-buyer targeting via owned brands signals appetite for bolt-on protein, fibre and functional-food assets, with 32% FMCG export CAGR opening cross-border M&A optionality.