ITC Ltd. is ‘proactively’ exploring inorganic opportunities as part of its vision for the next horizon, chairman Sanjiv Puri told shareholders on Wednesday.
He was addressing the company’s 110th Annual General Meeting online.
“This was manifest in the earlier acquisition of Savlon and Nimyle brands, and more recently of Sunrise Foods,” he said, adding the company would “continue to evaluate such value-accretive, inorganic opportunities as an additional pillar of growth.”
He said the company’s FMCG portfolio had been revitalised to make it future-ready, address emerging trends and develop categories of the future.
“Business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business, have been shrunk. Whilst the existing growth platforms comprising megabrands will be scaled up and fortified, new platforms, whether developed or acquired, will be nurtured to power growth across time horizons,” Mr. Puri said.
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