Itc Chairman Report
Autor: aviharsh22 • December 9, 2012 • Case Study • 732 Words (3 Pages) • 1,136 Views
ITC : CREATING ENDURING VALUE FOR INDIA
The Making of a National Champion
Speech by the Chairman, Shri Y.C. Deveshwar, at the 101st Annual General Meeting
on 27th July, 2012
Ladies and Gentlemen,
I have great pleasure in welcoming you to the 101st Annual General Meeting of your Company.
This AGM, in a manner, heralds ITC's entry into its new century. A future that promises to be even more glorious, fulfilling and rewarding as your Company pursues its vision to build an exemplary Indian enterprise. Your continued trust and goodwill has always been invaluable, and will lend immense encouragement for the journey ahead.
As in earlier years, I would like to first present to you the highlights of your Company's Triple Bottom Line performance during the year gone by.
TRIPLE BOTTOM LINE PERFORMANCE
Your Company continues its record of impressive financial results despite the challenges posed by the slowdown in the global and the national economy. Gross Income for the year grew by 14.9% to over Rs. 36,000 crores. Profit before tax increased by 22.4% to over Rs. 8,800 crores while Net Profits grew by 23.6% to over Rs. 6,100 crores.
Your wholehearted support to the Company's robust strategy to pursue multiple drivers of growth has also resulted in the non-cigarette segment net revenue growing 12-fold from about Rs. 1,360 crores in 1996 to Rs. 16,150 crores today. As a result, 57% of net segment revenue of your Company is now from businesses other than cigarettes, significantly enlarging ITC's capacity to create additional avenues for value creation.
Your Company is today acknowledged as one of India's most valuable corporations. Market capitalisation, which stood at Rs. 5,570 crores in 1996, has multiplied over 35 times to touch Rs. 2 lakh crores. Total Shareholder Returns, measured in terms of increase in market capitalisation and dividends, have grown at a compound rate of 25.7% per annum during this period.
(Figures in Rs. Crores)
ITC : Financial Highlights 1996-2012
1996 2012
Gross Income 5,188 36,073
Net Segment Revenue
(other than Cigarettes)
1,363
16,150
Profit After Tax 261 6,162
Net Assets Employed 1,886 19,754
Net Worth 1,121 18,792
Market Capitalisation* 5,571 2,00,000*
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