Rivals square up to take on ITC as company's FMCG business expands

While ITC has steadily added around Rs 7-10 billion in the FMCG top line in the past five years, analysts say there is still much work to do

The next 6-8 months could see cigarette-to-chocolate manufacturer ITC push the peddle on investment in the fast-moving consumer goods (FMCG) as the need to scale up one of its most high-profile growth engines increases.
 
In 2016-17, ITC’s FMCG business (called FMCG-Others) had a total turnover of Rs 105.24 billion. In the first nine months of the 2017-18, this business had crossed Rs 82.77 billion (on standalone basis), implying that if annualised the segment would have an overall top line of Rs 110 billion.
 
While ITC has steadily added around Rs 7-10 billion in the FMCG top line in