“Navigating a TURN to Reimagine the Future” or just flexing with multi-crore expansions, cloud kitchens, bio-packaging and incense sticks with personality? Either way, Sanjiv Puri’s AGM speech had more ambition than a Silicon Valley pitch deck.
1. At a Glance
At the 114th AGM, ITC delivered a masterclass in corporate reinvention: demerged hotels, launched food-tech brands, acquired ayurvedic baby-care startups, promised Net Zero by 2050, and revealed a ₹20,000 Cr investment roadmap across FMCG, Paperboards, Agri and Packaging. Basically: a legacy firm with startup dreams and old-money swagger.
2. Intro – The Patriotism-Powered Pitch
Chairman Sanjiv Puri kicked things off by invoking “Nation First”, military resolve, and “Operation Sindoor”—proving yet again that no AGM is truly Indian until nationalism makes a surprise cameo. But once the poetic intro wrapped, it was all business: 9 million livelihoods supported, 800 patents filed, 300+ districts touched, and one major transformation agenda: “TURN” – Turbulence, Uncertainty, Rapid change, Novel solutions.
Translation: “We’re not scared of chaos. We’ll just build more factories.”
3. The Big Moves – FY25 Greatest Hits
- Hotels Demerger: ITC Hotels spun off into a separate entity on Jan 1, 2025. Now asset-light, focus-sharp, and possibly checking itself into its own rooms for strategy offsites.
- Food-Tech Rocket: Brands like ITC Master Chef Creations, Aashirvaad Soul Creations, Sansho and Sunfeast Baked Creations now operate via 60 cloud kitchens. CAGR? A spicy 108% in 3 years.
- ITCMAARS: Their phygital agri-platform now links 22 lakh farmers and 2,050 FPOs. It also comes with drone pilots called “Drone Didis”. No, we’re not joking.
- Sustainability Chest Thump: Carbon positive, water positive, waste recycling positive, and now committed to Net Zero by 2050.
4. Shopping Spree: What ITC Bought (and Why)
- Blazeclan Technologies: To boost ITC Infotech’s cloud dreams.
- 24 Mantra Organic: For ₹200+ Cr, ITC got 100+ organic food SKUs and access to 1.4 lakh acres of
