ITC Ltd

COMPANY PROFILE
ITC is one of India's foremost private sector companies and a diversified conglomerate with
businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging, Agri
Business and Information Technology. The Company is acknowledged as one of India's most
valuable business corporations with a Gross sales value of ₹ 76,097.31 crores and Net Profit of ₹
15,136.05 crores (as on 31.03.2020). ITC was ranked as India's most admired company, according
to a survey conducted by Fortune India, in association with Hay Group. ITC is the country's leading
FMCG marketer, the clear market leader in the Indian Paperboard and Packaging industry, a
globally acknowledged pioneer in farmer empowerment through its wide-reaching Agri Business,
a pre-eminent hotel chain in India that is a trailblazer in 'Responsible Luxury'. ITC's wholly-owned
subsidiary, ITC Infotech, is a specialized global digital solutions provider.
Over the last decade, ITC's new Consumer Goods Businesses have established a vibrant portfolio
of 25 world- class Indian brands that create and retain value in India. ITC's world class FMCG
brands including Aashirvaad, Sunfeast, Yippee!, Bingo!, B Natural, ITC Master Chef, Fabelle,
Sunbean, Fiama, Engage, Vivel, Savlon, Classmate, Paperkraft, Mangaldeep, Aim and others have
garnered encouraging consumer franchise within a short span of time. While several of these
brands are market leaders in their segments, others are making appreciable progress.
The competitiveness of ITC's diverse businesses rest on the strong foundations of institutional
strengths derived from its deep consumer insights, cutting-edge Research & Development,
differentiated product development capacity, brand-building capability, world-class
manufacturing infrastructure, extensive rural linkages, efficient trade marketing and distribution
network and dedicated human resources. ITC's ability to leverage internal synergies residing
across its diverse businesses lends a unique source of competitive advantage to its products and
services.
ITC is investing in India's future by building world-class consumer goods factories and iconic
hospitality assets that will contribute to the country's competitive capacity. These investment
projects underpin the Company's support to the Government's "Make in India" vision.

THE ITC VISION

Sustain ITC's position as one of India's most valuable corporations through world class
performance, creating growing value for the Indian economy and the Company's stakeholders.

THE ITC MISSION

To enhance the wealth generating capability of the enterprise in a globalising environment,
delivering superior and sustainable stakeholder value.

GOALS AND OBJECTIVE

ITC’s goal is to assist developing and transition countries to achieve sustainable development
through exports. Our objective is increased and better trade, which creates employment,
entrepreneurial opportunities and generates income.

COMPETITORS
Below are the top 7 ITC Limited competitors:
➢ Marico
➢ L'Oréal
➢ Nirma Ltd
➢ HUL
➢ Colgate-Palmolive
➢ Procter and Gamble
➢ Dabur

BUISNESS MODEL
➢ Key Activities

• Innovative Product Development

ITC is involved in developing and manufacturing different products in an innovative way
into its all major segments i.e. FMCG, Agri-Business, Hotels, Paperboards and Specialty
Boards, Packaging, and Information Technology.

• Marketing and Promotional Activities

ITC is involved in various marketing and promotional activities to promote its brand and
market its businesses, products, and services. Different promotional tools such as
electronic, digital, and print media are used by the brand in its promotional activities.
Various ad campaigns are launched by ITC and displayed through different channels like
television, radio, hoardings, etc. Also different brand ambassadors are there to promote
different brands of ITC. Various digital marketing campaigns are also launched by ITC.

• R&D Activities
Research & Development (R&D) center of ITC under the brand “ITC Life Sciences &
Technology Centre” is situated in Bangaluru and plays an important role in developing
new innovative products and technology solutions to provide a competitive advantage to
ITC.
• CSR Activities
The main CSR initiatives of ITC include the E-Choupal ecosystem, Watershed
Development Programme, Livestock Development, Women Empowerment, Primary
Education, Health & Sanitation, and many more.

➢ Customer Segment
The customer segmentation of ITC includes geographic, demographic, and psychographic
segmentation based factors such as income group, age, profession, business class, region,
gender, behavior, etc. by offering a wide range of products and services that cater to the needs
of customers in different age groups i.e. between 5-60 years. Also, ITC caters to the
requirements of B2B (Business to Business) customers that include different companies
operating in different sectors such as IT, Hospitality, etc.

➢ Value Proposition
All facilities under one roof. ITC is into diversified businesses and catering to different
needs of customers by offering products and services in different categories such as FMCG,
Hotels, Agriculture, IT, Packaging, and Paperboards. So, customers can get all facilities related
to personal care, food products, luxury hotel rooms and restaurants, agriculture products, IT
services, etc. under a single company ITC.

➢ Key Resources
ITC has both tangible and intangible resources as part of key resources.
• Tangible resources
▪ Financial Resources
ITC has a pool of funds for producing goods and services for its different businesses.The
market capitalization of ITC is 2571.55 Billion for the 4th fiscal quarter of the year 2020.
(source). Shareholder’s funds stood at INR 64,029.16 crores in FY 2020 (source).The profit
after tax (PAT) of the company was INR 15136.05 crores for FY2020. (source)
▪ Physical Resources

-Raw Material Access

ITC has a strong network of e-Choupal centers that cover 40k plus villages and includes
commodities such as rice, coffee, wheat, etc. coming out of farms.
For easy and fast access to necessary raw material (such as tobacco leaf), ITC has a firm
i.e. Indian Leaf Tabacco Development.
ITC produces raw material locally by its WOW (wealth out of waste) initiative.
 -Manufactured Capital
ITC has sufficient manufactured physical objects such as infrastructure, buildings,
equipment to utilize in the manufacturing of products and provision of services. ITC has
more than 200 manufacturing units and this also includes the greenest and largest paper
and paperboard manufacturing concern of India. It has more than 150 hotels having luxury
infrastructure. The warehousing of ITC covers a 10 million sq. ft. area.
▪ Intellectual Resources
The company’s intellectual property like licenses, trademarks, patents, rights, etc. is one of
its key resources.
▪ Trademarks
The key resources of ITC include different trademarks. For example, lassmate trademark
for notebooks was used for launching other products like pencils, pens, mechanical pencils,
etc.
▪ Organizational resources
ITC has different committees to work on different strategic activities and these are
considered its resources. Different committees of ITC include the Audit Committee,
Corporate Management Committee, Nominations Committee, Compensation Committee,
SBU (Strategic business unit) Committees, etc.

• Intangible resources

▪ Human resources
At ITC, employees are one of the key resources and they take active participation in
setting objectives, formulating and executing strategy.

▪ Knowledge, Skills, and Expertise of Managers

HR Managers of ITC are well qualified and carrying expertise in their field and are
hired from the best business schools of India.

▪ ITC Brand
ITC holds a prestigious and strong position in different market segments of different
products. ITC has contributed significantly to the economic gains of India as it is one
of the oldest and the most reputed brand of the country.

▪ Distribution Network
ITC has a vast distribution network covering its different businesses and to enhance its
distribution network, ITC uses different promotional strategies.
 ➢ Customer Relationships

• Communication Campaigns for customers

A dedicated command centre is developed by ITC that monitors trends and extracts
relevant customer insights.

• Safety of customers
ITC maintains a strong relationship with its customers by ensuring the safety of its
customers through its world-class quality products and services.

➢ Key Partners

• Investors
Investors of ITC are its key partners and these investors contribute to the company’s
success and growth with a huge investment.

➢ Channels
• Distribution Network
ITC has a strong distribution network and it includes different distribution channels such
as retail outlets, dealer sales force, field marketing, and promotion teams, wholesale
dealers.

➢ Cost Structure
For the FY2020, ITC spent Rs. 13121.76 crores on materials consumed, Rs. 4289.71 crores
on purchase of Stock-in-Trade, Rs. 1187.64 crores on excise duty, Rs. 2658.21 crores on
employee benefits. Apart from these, the finance cost was Rs. 55.72 crores, depreciation
cost was Rs. 1563.27 crores, and other expenses stood at Rs. 7822.11 crores.

➢ Revenue Stream
• Revenue from Hotels: 18.37 billion Indian rupees
• Revenue from Agribusiness: 102.41 billion Indian rupees
• Revenue from FMCG (other than cigarettes): 128.44 billion Indian rupees
• Revenue from paperboards, paper & packaging: 61.07 Billion Indian rupees
• Revenue from cigarettes: 212.02 Billion Indian rupees

ENVIRONMENTAL ANALYSIS
PESTLE ANALYSIS
Political Factors
- Role of Non-Government Organization, Civil Society & Protest Groups – The country has a
vibrant civil society community and Itc should build bridges with them and seek out areas of co-
operations. Civil society groups are influential not only in policy making but also in building a
society wide narrative.

- International Trade & Other Treaties – The country has a good record of adhering to international
treaties it has done with various global partners. The government of each party has adhered to the
treaties done by previous governments, so there is a consistency in both rule of law and regulations.

- Segregation of Political Responsibilities between Different Government Agencies – There are

numerous government agencies which reduces the risk of overwhelming pressure by one agency.
But on the flip side it does increases both time and cost of doing business and getting certifications
and clearances.

- Government Regulations and Deregulations – The government is adhering to all the rules and
regulations under World Trade Organization norms. There is consistency in both policy making
and implementations of those policies.

- Unrest within the Country & Chances of Civil Unrest – I don’t think that Itc business operations
are facing any dangers from any kind of civil unrest or internal militant operations in the country.

- Likelihood of Entering into an Armed Conflict – From the information in the ITC Limited: India,
I don’t think there is a likelihood of country entering into an armed conflict with a neighboring
country.

-Regulatory Practices - The regulatory practices are streamlined with global norms which have
helped the country to improve its “ease of doing business” ranking.

- Political Governance System – Based on the information provided in the ITC Limited: India First
case study, it seems that the country have a stable political system. Itc can make strategies based
on the stable political environment.

Economic Factors

- GDP Trend & Rate of Economic Growth – The higher GDP growth rate signals growing demand
in the economy. Itc can leverage this trend by expanding its product range and targeting new
customers.

- Work Force Productivity – Work force productivity in US has grown by 25-30 % in last two
decades even though the salaries are not reflecting those gains. It can enable Itc to hire skilled
workforce at competitive salaries.
- Level of Household Income and Savings Rate – Increasing consumption and stagnant household
income in United States had led to credit binge consumption. It has decimated the culture of
savings as people don’t have enough to save. Itc needs to be careful about building marketing
strategy that is dependent on “Purchase on Credit” consumer behavior.

- Inequality Index / Ranking on Gini Index – Gini Index and level of inequality are a great
barometer for harmony and development of a society. If there is huge income inequality in the
society then the likelihood of conflict and crime increases. It can lead to uncertainty and
suppression of consumption in both short term and long term.

- Price Fluctuations in both Local and International Markets – Compare to the level of quantitative
easing in last decade the prices of Itc products and prices of overall products have remained sticky
in the US market. Itc should consider the fact that at deficit levels of United States in an emerging
economy can lead to rampant inflation and serious risks of currency depreciation.

- Employment Rate – If the employment rate is high then it will impact Itc Bat strategies in two
ways – it will provide enough customers for Itc products, and secondly it will make it expensive
for Itc to hire talented & skillful employees.

- Financial Market Structure and Availability of Capital at Reasonable Rates – The quantitative
easing policy of Federal Reserve has led to liquidity flooding all across the global financial
markets. Itc can borrow cheaply under such circumstances. But this strategy entails risks when
interest rate will go up.

Social Factors

- Gender Composition in Labor Market Itc can use gender composition of labor market to
understand the level of liberal nature of the society, women rights, and women’s say in matter of
societal issues and consumption decisions. The gender composition of labor market is a good
indicator of disposal income of household, priorities of the households, and related needs.

- Attitude towards Health & Safety – The attitude towards health and safety is often reflected in
the quality of the products and cost structures of manufacturing processes. Itc has stringent norms
for health and safety norms so in emerging economies it may have to compete with players who
don’t have high cost structures that of Itc.

- Immigration Policies and Level of Immigration – What are the immigration policies of the
country, what is the level of immigration, and in which sectors immigration is encouraged. This
will enable the Itc to determine – if required can it hire talent globally to work in that particular
market.
- Education Level in Society – Education level of the society impacts both the quality of jobs and
level of income. High level of education often results in better jobs, higher income and higher
spending on complex and aspirational products.

- Types of Immigration & Attitude towards Immigrants – Given the latest developments such as
Brexit and Immigrant detention on Southern border of United States. Attitude towards immigration
has come under sharp focus. Itc should have capabilities to navigate under this hyper sensitive
environment.

- Demographic Trend – The demographic trend is one of the key factors in demand forecasting of
an economy. For example as the population of USA and EU is growing old the demand for
products mostly catering to this segment will grow. Itc should consider demographic trends before
new product developments and integrate features that cater to this segment. As population is ageing
it will require less tech intensive products.

- Attitude towards Authority – Various cultures in different part of the world have different attitude
towards authority. In Asia authority is respected while in west it is something to rebel against. Itc
Bat should carefully analyze the attitude towards authority before launching a marketing campaign
for its products and services.

- Birth Rate – Birth rate is also a good indicator of future demand. USA has avoided the European
Union style stagnant economy on the back of slightly higher birth rate and higher level of
immigration.

Technological Factors

- E-Commerce & Related Infrastructure Development – As E-Commerce is critical for Itc Bat
business model. It should evaluate the e-commerce infrastructure, technology infrastructure etc
before entering a new market.

- Acceptance of Mobile Payments and Fintech Services – One of the areas where US are lacking
behind China is Mobile Payments. Itc should assess what are preferred choice of mobile payments
in local economy and chose the business model based on it.

- Intellectual Property Rights and Patents Protection – Before entering new market Itc should focus
on the environment for intellectual property rights.

- Property Rights & Protection of Technology Oriented Assets – Itc should analyze the legal status
of various property rights and intellectual property rights protections that are common in US.
- Level of Acceptance of Technology in the Society – Itc has to figure out the level of technology
acceptance in the society before launching new products. Often companies enter the arena without
requisite infrastructure to support the technology oriented model.

- Preparedness for 5G Related Infrastructure – Countries across the world are trying to prepare
themselves to install 5G infrastructure. Itc should assess to what level the local market is prepared
to roll out the 5G connectivity.

- Cost of Production and Trends – Itc should assess - What are the cost of production trends in the
economy and level of automatization. We at EMBA Pro believe that in near future the sector most
disrupted by technological innovation is manufacturing and production.

- Transparency & Digital Drive – Itc can use digitalization of various processes to overcome
corruption in the local economy.

Environmental factors

- Paris Climate Agreement and Commitment of National Government under the Agreement – What
are the commitments of the country under the Paris Agreement and what is the general level of
consensus regarding Paris Climate Agreement in the country.

- Per Capita and National Carbon Emission – What is the per capita carbon emission of the country
and what is the overall level of carbon emissions of the country. This will help in better predicting
the environment policy of the country.

- Waste Management – What is the policy of waste management in the prospective market and
how Itc can adhere to the waste management requirements in that market.

- Level of Consumer Activism Regarding Environmental Concerns – Itc Bat needs to know the
level of consumer activism regarding environmental concerns is. It will help Itc Bat in both
developing environmentally friendly products and thwarting PR stumble blocks.

- Corporate Social Responsibilities Culture – Are Itc present CSR efforts applicable in the new
market or does it needs to have new initiative to cater to the prospective market.

- Influence and Effectiveness of Environmental Agencies – The role of environment standards

enforcement agencies is critical in safeguarding norms. But often in emerging countries these
agencies delay the process as a tactic to extract bribes. Itc should be aware of presence of such
practices in a country.

- Environmental Regulation Impacting Absolute Cost Advantage Dynamics in the Industry.

Legal Factors

- Independence of Judiciary and Relative Influence of Government – The judiciary independence

often reflect both strength and credibility of the institutions in the country.

- Business Laws – Before entering into new market – Itc has to assess what are the business laws
and how they are different from home market.

- Intellectual Property Rights Protection – Itc should assess the level of protection that intellectual
property rights get under the legal system of the country.

- Health & Safety Laws – What are the health and safety laws in the country and what Itc Bat
needs to do to comply with them. Different countries have different attitude towards health and
safety so it is better for Itc to conduct a thorough research before entering the market.

- Data Protection Laws – Itc needs to assess what are the data laws in the country and what it needs
to do to comply with them. For example most of EU countries now want the EU citizen data to be
saved in EU countries only.

- Consumer Protection Laws – Itc needs to know what are the consumer laws, what is the rate of
enforcement, what is the attitude of authorities towards consumer protection laws, and what is the
role activist groups in enforcement of consumer protection laws.

- Time Taken for Court Proceedings – Even if the country has best of the laws, it doesn’t mean
much if they can’t be enforced in a timely manner. Itc Bat should do a primary research regarding
how much time it often takes to conclude a court case in the country given the sort of legal
challenges Itc can face.

SWOT ANALYSIS
Strengths
➢ ITC has 6 strong and diverse businesses under its name which boasts its total revenue .
➢ ITC is a strong house of brands with most of its products leading the segments in which
they operate.
➢ ITC has developed a triple-bottom-line strategy through which concentrates on developing
the nation’s economic, social and environmental capital.
➢ ITC has brought in initiatives like E-Choupal, Choupal Pradarshan Khet (CPK) which
benefits the people at the grass root level, i.e. farmers.
➢ ITC has successfully utilised the strengths of existing business to foray into a newer
products or categories. ITC leveraged the strong distribution system of cigarette brands to
create a channel for its FMCG products.
Weaknessess
➢ ITC has been continuously making efforts to divert the FMCG business from over
dependence on tobacco products.
➢ ITC has many tobacco products in its portfolio impacts its corporate image.
➢ Due to the increase in taxation on tobacco products, the prices and hence revenues get
affected.

Opportunities
➢ ITC should continue making the strategic acquisition like they have done in the past by
acquiring Savlon from Johnson & Johnson and B Natural from Balan natural Foods.
➢ ITC can look to increase its portfolio of products and expand its Non-Tobacco FMCG
business and thereby strengthening the base of revenue.
➢ ITC should tap on the increasing purchasing power and improving the lifestyle of
customers in India.
➢ ITC should utilise its distribution channel in Personal Hygiene and Food Processing
Industry to capitalise on the growth in the categories and hence increase revenue.
➢ The growing rural market in India and other emerging nations create huge opportunities to
improve the bottom-line of the company.
Threats
➢ ITC faces intense competition in its FMCG business from large MNCs like HUL and P&G
and Indian FMCGs like Patanjali and Dabur.
➢ The Tobacco and Cigarette Industry in India continue to be targeted by strict government
regulations and taxation system. This possesses a threat to the highly profitable Cigarette
business of ITC.
➢ There has been an increase in the health consciousness which has resulted in the decrease
in demand for tobacco products in India.

VRIO ANALYSIS
Valuable – ITC’s critical resources that are valuable to the firm - financial resources, human
resources, marketing expertise, and operations management.
Rare – ITC needs to ask is whether the resources that are valuable to the Itc are rare or costly to
attain. If they are not rare than both present competitors and new entrants will easily able to get
access to them and enter the competitive landscape.
Costly to Imitate – Imitation of products of Itc can happen in two ways – Duplication of the
products of the company, and competitors coming up with substitute products that disrupt the
present industry structure.
Organizational Competence & Capabilities to Make Most of the Resources –The exploitation
level analysis for Itc products can be done from two perspectives. Is the firm able to fully exploit
the potential of the resource, or it still has lots of upside.Often the exploitation level is highly
dependent upon execution team and execution strategy of the firm. Capabilities tend to arise or
expand over time as a firm takes actions that build on its strategic resources.

VALUE CHAIN ANALYSIS

Primary Activities
➢ Inbound Logistics
These activities of Itc are associated with receiving, storing and disseminating the inputs
of the products. It can include warehousing of physical products, material handling, as well
as architecture to receive and store customer information for digital media company. Itc at
present has outsourced most of its inbound logistics activities.

➢ Operations
Activities that help the organization to transform raw material into finished products.

➢ Outbound Logistics
Itc under takes these activities to distribute the finished products to channel partners and
final buyers. Outbound logistics activities include – wholesalers and retailers order
fulfillment, distribution network, warehousing, processing, and scheduling.
➢ Marketing and Sales
These activities are undertaken by Itc to create means through which the buyer can buy a
firm’s products. These activities include – marketing, pricing, advertising and promotion,
sales force management, channel selection etc.
➢ Services
Itc needs to provide after sales services and maintenance for successful usage of the
product. Service activities of Itc can include – part supply, installation services, product
forward and backend alignment of software, training, and post sales maintenance.

Support Activities
 ➢ Firm Infrastructure
Firm infrastructure support activities at Itc Bat consists activities such as – planning,
quality management, legal services, finance and accounting and general management. Firm
infrastructure activities at Itc Bat supports entire value chain though the scope varies given
that Itc Bat is a diversified company even within the industry. For example the finance and
planning at Itc Bat are managed at corporate level while quality management, accounting
and legal issues are managed at business unit level.

➢ Human Resources Management

HRM of ITC support activities include – Recruiting, Hiring, Training & Development,
People Planning, Skill Assessment, Selection and Compensation at both business unit level
and corporate level.
➢ Technology Development
Technology development at may include activities such as - feature design, field-testing,
component design, process engineering, and technology selection.
➢ Procurement Activities at Itc
Procurement activities at Itc include activities that are undertaken to purchase inputs that
are used by Itc’s value chain. It doesn’t include purchase inputs themselves. Purchased
inputs may include - raw materials, supplies, machinery, laboratory equipment, office
equipment, and buildings.

ORGANIZATIONAL APPRAISAL
The performance of an organization is managed by monitoring and managing the performance of
the individual employees in the organization. The objectives and goals of individual performance
are determined based on the objectives and goals of the organization. Hence, the successful
performance of the organization is a culmination of individual’s performances and contributions.

ITC'S CORPORATE STRATEGIES

➢ Create multiple drivers of growth by developing a portfolio of world class businesses that
best matches organisational capability with opportunities in domestic and export markets.

➢ Continue to focus on the chosen portfolio of FMCG, Hotels, Paper, Paperboards &
Packaging, Agri Business and Information Technology.
 ➢ Benchmark the health of each business comprehensively across the criteria of Market
Standing, Profitability and Internal Vitality.

➢ Ensure that each of its businesses is world class and internationally competitive.

➢ Enhance the competitive power of the portfolio through synergies derived by blending the
diverse skills and capabilities residing in ITC's various businesses.

➢ Create distributed leadership within the organisation by nurturing talented and focused top
management teams for each of the businesses.

➢ Continuously strengthen and refine Corporate Governance processes and systems to

catalyse the entrepreneurial energies of management by striking the golden balance
between executive freedom and the need for effective control and accountability.

ITC'S BUISNESS STRATEGIES

➢ ITC is involved in developing and manufacturing different products in an innovative way
into its all major segments i.e. FMCG, Agri-Business, Hotels, Paperboards and Specialty
Boards, Packaging, and Information Technology.

➢ ITC believes that any meaningful policy on Corporate Governance must provide
empowerment to the executive management of the Company, and simultaneously create a
mechanism of checks and balances which ensures that the decision making powers vested
in the executive management is not only not misused, but is used with care and
responsibility to meet stakeholder aspirations and societal expectations.

➢ ITC endeavours to embed the principles of sustainability, as far as practicable, into the
various stages of product or service life-cycle including procurement of raw material /
service, manufacturing of product or delivery of service, transportation of raw materials
and finished goods, and disposal by consumers.

➢ ITC's 'Nation First: Sab Saath Badhein' philosophy underlines its core belief in building a
globally competitive and profitable Indian enterprise that makes an exemplary contribution
to creating larger societal value. As a company deeply rooted in Indian soil, ITC is inspired
by the opportunity to serve larger national priorities. ITC is the only enterprise in the world
of comparable dimensions to be carbon-positive, water-positive and solid waste recycling
positive for over a decade now.
➢ ITC's Well-being Out of Waste programme (WOW) that comprehensively addresses the
problem of solid waste management, of which plastic waste is a significant component,
provides an end-to-end sustainable and scalable solution that has reached out to over 1.5
crores citizens in the country.

➢ ITC has implemented largescale interventions in climate-smart and sustainable agriculture

that make a meaningful contribution to the Hon'ble Prime Minister's vision of doubling
farmer incomes.

➢ It is ITC's policy that its food products should provide nutritious, tasty, hygienic and
convenient options to the consuming public. ITC offers food products across multiple
categories, price points, delivery formats and segments as dictated by the needs of the
consumer. ITC's portfolio of food products are continuously improved and modified

➢ It is ITC's Policy to direct its CSR Programmes, inter alia, towards achieving one or more
of the following - poverty alleviation; promoting education and skill development;
promoting healthcare including preventive healthcare; providing sanitation and drinking
water; ensuring environmental sustainability; enabling climate resilience; rural
development projects; creating livelihoods for people, especially those from disadvantaged
sections of society; protection of national heritage, art and culture; preserving and
promoting music and sports; and providing relief and assistance to victims of disasters and
calamities

➢ ITC's achievements across all three dimensions of the "Triple Bottom Line" - economic,
social and environmental is well known and recognized globally.