Stock Advisory in Indore: ITC targets Rs65,000 crore revenue from packaged foods division by 2030

ITC Ltd, the Kolkata-based cigarette-to-noodles maker, has set an internal target of generating Rs65,000 crore from packaged foods by 2030 to reach its goal of Rs1-trillion revenue from non-cigarette packaged goods by that time.

“ITC’s foods division will be a significant contributor to our goal of achieving Rs1,00,000 crore turnover from the new FMCG businesses by 2030. Our vision is to contribute at least 65% of this turnover,” said Hemant Malik, divisional chief executive (foods), ITC.

According to ITC, its branded packaged food business crossed Rs8,000 crore in the fiscal year ended 31 March 2017 (FY17).

Now, it wants to garner Rs65,000 crore by selling branded packaged food—from Re1 candies to Rs1,000 chocolate boxes, over the next 13 years.

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