How tobacco-to-hotels major ITC rose to the challenge during pandemic

ITC Chairman and Managing Director Sanjiv Puri's three years in charge have seen structural shifts that steadied the cigarettes to hotels major against a tough business environment

After fielding a barrage of questions the last two years — on the stock performance, demerger, et al — ITC Chairman and Managing Director Sanjiv Puri may breathe easy when he addresses shareholders virtually at the annual general meeting on July 20; the company clocked in its highest-ever net sales in FY22, net profit growth was back in double-digits and the scrip that had sent the meme machine on overdrive outperformed the broader benchmark indices the past six months by a long chalk.

Analysts are gung-ho about ITC’s prospects across segments. The heavy-lifting cigarettes — accounting for 37 per