ITC bets on protein, fibre push to court GLP-1 users and Gen Z buyers
Chairman Sanjiv Puri is steering ITC's FMCG arm toward high-protein, high-fibre packaged foods, backed by Rs 20,000 crore capex and 70 cloud kitchens across 5 cities. Fresh foods are doubling annually and FMCG margins have expanded 740 bps since 2016-17, even as cigarettes still deliver 82% of EBITDA.
What happened
ITC chairman Sanjiv Puri outlines push into protein- and fibre-rich packaged foods targeting first-time buyers, GLP-1 users and Gen Z, backed by Rs 20,000 crore
Key facts
- 41% cigarettes net turnover share
- 82% EBITDA from cigarettes
- Rs 20,000 crore capex
- 70 kitchens across 5 cities
- FMCG margins up 740 bps 2016-17 to 2025-26
- 80-100 bps annual margin target
- FMCG exports 32% 3-year CAGR
- fresh foods growing ~100% annually
Why this matters
Rs 20,000 crore capex signals appetite for bolt-on acquisitions in functional foods and health-forward D2C brands to accelerate the protein-fibre platform.