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ITC Limited | The FMCG food empire built by one of India's largest conglomerates

2026.03.26

Article summary

ITC Limited is a conglomerate founded in Kolkata in 1910. Sanjiv Puri is Chairman and MD. Consolidated revenue for FY2026 (fiscal year ending March 2026) was ₹78,868 crore (1 crore = 10 million rupees). Revenue in the FMCG segment excluding cigarettes was ₹24,210 crore, and the company owns Aashirvaad (flour), Sunfeast (biscuits), Bingo!, and YiPPee!. In April 2026 it made the company that operates Yoga Bar a subsidiary.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

ITC Limited, one of India's largest conglomerates, has rapidly expanded its FMCG food business using the enormous cash flow from cigarettes. Several brands, including Aashirvaad (flour), Sunfeast (biscuits), Bingo! (snacks), and YiPPee! (instant noodles), have passed ₹1,000 crore (10 billion rupees, about 17.4 billion yen) in annual consumer spending.

Company profile

Item	Details
Year founded	1910
Headquarters	Kolkata (West Bengal)
Chairman and MD	Sanjiv Puri
Consolidated revenue	₹78,868 crore (FY2026 = fiscal year ending March 2026; about 1.37 trillion yen)
Employees	About 36,000
Listing	Listed on the BSE and NSE
Main brands	Aashirvaad, Sunfeast, Bingo!, Yippee!, Classmate, Fiama

Business and strengths

ITC Limited's strength lies in diversified management. It runs six segments, cigarettes, FMCG, hotels, paperboard, IT, and agriculture, and the high margins of the cigarette business support aggressive investment in FMCG food. Revenue in FMCG excluding cigarettes (the FMCG-Others segment) reached ₹24,210 crore in FY2026. Aashirvaad in flour and Sunfeast in biscuits are the two pillars. On the agriculture side there is e-Choupal, but that is a system for providing information to farmers and sourcing raw materials, and it is worth keeping in mind that it is separate from the distribution network that delivers consumer goods to retail stores.

Recent developments

In January 2025 the hotel business was separated and listed as ITC Hotels. Consolidated revenue for FY2026 was ₹78,868 crore, and annual consumer spending on FMCG excluding cigarettes exceeded ₹37,000 crore. Yoga Bar, the healthy snack brand operated by Sproutlife Foods, became a subsidiary of ITC on April 1, 2026, because ITC gained the right to nominate a majority of the directors even though its stake is about 47.5% on a diluted basis (the policy of acquiring 100% itself has been stated since the announcement in 2023).

Points of contact and business opportunities for Japanese companies

ITC is a strong candidate partner for Japanese food manufacturers. Its distribution network covering all of India could solve the biggest challenge Japanese companies face when entering the Indian market. ITC's agricultural supply chain e-Choupal also has high potential for linking with Japanese agricultural technology. In the instant noodle category it competes with companies such as Nissin Foods.