The history of ITC Group, a diversified Kolkata-based conglomerate, dates back to 1910 when it was incorporated as Imperial Tobacco Company of India Ltd. The company has interests in diverse industries such as FMCG, hotels, paperboard & packaging, agribusiness, and IT. ITC has evolved over the years to become one of the largest private sector companies in India. ITC is a household brand known for its cigarette brands such as Gold Flake and India Kings, Aashirvaad brand food products, and Sunfeast biscuits, not to mention its Classmate brand of student stationery products.
Primarily known as a tobacco company, the firm has diversified its revenue streams by venturing into several lucrative business segments. The expansion spree has defined ITC’s history, as seen by the establishment of ITC Hotels in the luxury segment and the launch of ITC Infotech, marking its foray into the information technology industry.
Basic information about ITC Limited
One of the defining things about a conglomerate is that it offers a wide range of products that touch people’s lives in myriad ways. Looked at from this angle, ITC products range from food items to bathing soaps. In fact, ITC’s history illustrates the company’s evolution from a tobacco-focused business to a diversified one. ITC’s cutting-edge R&D, top-notch production facilities, successful marketing, and in-depth consumer insights make its business segments highly competitive.
A recap of ITC’s history
ITC, which began life as Imperial Tobacco Company of India Ltd, was renamed India Tobacco Company Limited in 1970 and became ITC Limited in 1974. William M. Jacks was the ITC founder. Initially, ITC full form was Imperial Tobacco Company of India Limited, which eventually became ITC Ltd over the years.
ITC Hotels, a prominent and visible brand from the ITC stable, runs luxury hotels in several metro cities of India. Another remarkable initiative of ITC is E-Choupal, the world’s largest rural digital infrastructure empowering four million farmers..
A timeline of ITC history
Sanjiv Puri currently holds the position of chairman and managing director. ITC underwent a stunning transformation from a tobacco company to a global corporation in its storied history that began in
1910: Here is a timeline of events that defined ITC’s history over the years.
1910: The Imperial Tobacco Company of India Ltd. was founded on August 24 and converted to a private limited company.
1953: The production section of Tobacco Manufacturers (India) Ltd. was purchased by the firm.
1954: The business became a public limited company on October 27.
1970: Imperial Tobacco Co. of India Ltd. was renamed India Tobacco Co. Ltd. in May.
1972: ITC entered the hotel sector.
1973: Three processing factories received government permission.
1974: The company’s name was changed to ITC Ltd. on 1 April.
1975: Acquired India Leaf Tobacco Development Co. Ltd.’s net assets.
1979: ITC changed the name of its hotel network from Welcome Hotels to Welcomgroup.
1988: ITC launched oilseed brand ADARSH and cooking oil under SUNDROP brand.
1990: Refined mustard oil had its market debut under the “REAL GOLD” brand.
1993: Hero and Classic Milds brands of cigarettes launched.
2000: Launched Lifestyle Retailing Business Division by the Packaging and Printing Section.
2003: Launched salt under the “Aashirvaad” brand, and the Spriha brand of natural incense sticks (Agarbathis) was launched.
2012: Launched the unique Skin Nourishing Range of Soaps by Vivel, ITC’s premier personal care brand.2014: Overtook TCS as India’s most regarded company. Joined the e-cigarette market.
2017: Measures were taken to support Swachh Bharat.
2022: ITC Limited India was rated one of the most profitable FMCG companies in India as of March 31.
ITC Limited’s subsidiaries
A large Indian conglomerate, ITC Limited, has diversified its business through several subsidiaries, which attests to its flexibility and strong focus on expansion. ITC history reflects a heritage of invention, resiliency, and a strategy shift toward the FMCG sector. These businesses testify to ITC’s strategic diversification, propelling growth in several industries while upholding a strong commitment to sustainability and innovation. The following are some of ITC’s prominent subsidiaries.
| Company Name | Industry |
| ITC Infotech | IT |
| Srinivasa Resorts Limited | Hospitality |
| Surya Nepal Private Limited | Cigarettes, Safety Matches, Agarbatti and Confectionery |
| Fortune Park Hotels Limited | Hospitality |
| Landbase India Limited | Development of luxury living projects |
| Welcomhotels Lanka (Private) Limited, Srilanka | Hospitality |
| Russell Credit Limited | Investment Company |
| Technico Pty Limited | Agri-business |
List of all ITC businesses
Information technology, agribusiness, paperboard and packaging, hotels, and fast food are some of the several industries in which ITC Limited operates. The company has made significant investments in sustainable packaging solutions and the hotel sector. Notably, British American Tobacco (BAT) holds a more than 25% stake in ITC. The business operations of ITC are grouped under many segments.
1. FMCG Products
· Cigarettes & Cigars
· Foods
· Personal Care
· Education and Student Stationery
· Safety Matches
· Agarbattis & Dhoop
2. Agribusiness
· Agri Commodities & Rural Services
· Agri-Business-ILTD
· e-Choupal
· ITC Analytical Services
Other business segments are broadly grouped under the following categories:
3. Hotels
4. Paperboards and Packaging
5. Packing
6. Information Technology
7. ITC Brand World Group Companies
8. Operational Joint Ventures
ITC Limited’s subsidiaries: An overview
Besides manufacturing and trading consumer goods, ITC Ltd. is also a holding company. ITC history encompasses its foray into business segments such as IT, FMCG, hotels, paperboards, packaging, and agribusiness. Here are some of its prominent ITC subsidiaries, listed in no particular order.
1. ITC Infotech
ITC Infotech is one of the leading information technology companies in India. It provides solutions in the areas of digital marketing, application development, website development, and software. The firm has more than 500 employees in India and abroad.
2. Srinivasa Resorts Limited
Srinivasa Resorts Limited, in which ITC owns a 68% stake, runs some of the most sought-after luxury hotels and motels in India. In line with ITC’s concept of responsible luxury, its establishments are renowned for their opulence, excellent service, and commitment to sustainable practices.
3. Surya Nepal Private Limited
Surya Nepal Private Limited (SNPL), an Indo-Nepal-UK joint venture company, started its Nepalese operation in 1986. Surya Nepal Private Limited, one of the largest companies in the private sector in Nepal, is a subsidiary of ITC Limited. Clothing, safety matches, and cigarettes are the three main lines of its business of the company.
4. Fortune Park Hotels Limited
Fortune Park Hotels Limited, established in 1995, is a wholly-owned subsidiary of ITC Limited. The group runs over 115 hotels in about 80 locations under six different brands. Fortune Hotels operates under Fortune Select, Fortune Park, Fortune Inn, and Fortune Resort brands.
5. Landbase India Limited
A part of ITC Limited, Landbase India Limited is a country club situated on the outskirts of Delhi. Golf course development and management and related real estate developments are the primary activities of Landbase India Limited. Its flagship property is the Classic Golf Resort in Haryana.
6. Welcomhotels Lanka (Private) Limited, Srilanka
ITC owns all of the shares of Welcomhotels Lanka(Private) Limited, its subsidiary in Sri Lanka. It was established in association with a luxury hotel in Colombo to design, develop, and manage a project. Positioned as an upscale lodging option, its target market consists of affluent foreign visitors and business travelers.
7. Russell Credit Limited
A provider of financial services, Russell Credit Limited by ITC provides loans, credit cards, and other financial services. It was founded to make long-term investments in agribusiness, FMCG hotels, paper, paperboards, packaging, and even information technology. By creating new revenue streams and diversifying its investment portfolio, this subsidiary contributes to the financial stability and expansion of ITC. The strategic investments made by Russell Credit contribute to improving ITC’s balance sheet.
8. Technico Pty Limited
Technico Pty Limited is an agri-biotech enterprise that operates as a wholly-owned subsidiary of ITC. It is the owner of Technituber technology and markets it globally. TECHNITUBER® seed potatoes are the main product of this subsidiary, which employs cutting-edge technology to increase the quantity and quality of potato harvests. Thanks to Technico’s inventions, ITC’s agribusiness segment has expanded greatly, helping it increase agricultural output and sustainability.
Conclusion
Since its founding in 1910, ITC, a pillar of India’s business environment, has evolved rapidly. Over the years, it expanded beyond cigarettes and tobacco products to FMCG, hotels, paperboards, and packaging. ITC has expanded its footprint by making smart acquisitions and implementing sustainable practices. The company’s varied portfolio and dedication to excellence are best demonstrated by its subsidiaries, such as ITC Infotech and ITC Hotels. ITC’s history in the Indian market highlights a heritage of leadership and sustainable business principles, which it is leveraging to innovate and broaden its reach.
