KOLKATA: ITCBSE -0.58 the troubles Ltd's prepackaged food business has crossed the Rs seven,000 large integer sales mark in 2015-16, a growth of ten.7% over last commercial enterprise. With this, the company's non-cigarette FMCG brands have garnered annual shopper pay over Rs twelve,000 crore, as per revelation within the recently printed annual report.
The conglomerate's prepackaged food business touched Rs 7097.49 large integer last commercial enterprise as compared to Rs 6411.27 large integer in 2014-15. In terms of annual shopper pay, Aashirvaad and Sunfeast brands square measure over Rs 3,000 large integer and Rs 2,500 large integer severally whereas schoolfellow and beano square measure over Rs 1,000 large integer every, as per annual report.
The company same the FMCG trade faced another difficult year with demand conditions remaining sluggish for the third year in succession. "The year conjointly witnessed value deflationary conditions with trade players passing on the advantage of decline in input costs to customers with a read to bolstering sales volumes," the corporate same.
ITC same whereas it's going to take few additional quarters for the FMCG trade to revive demand, the inexperienced shoots of economic recovery, expectations of traditional monsoon, low inflation, projected implementation of the recommendations of the seventh pay commission and also the 'one rank one pension' theme augur well for the trade.
ITC last year conjointly commissioned 3 company-owned producing units for the prepacked food business and is presently building over twenty new comes.