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ITC bets on protein, fibre and Rs 20,000 cr capex to crown FMCG arm over cigarettes
Our read
Scaling 70 cloud kitchens across 5 cities while pushing protein-fibre SKUs through Aashirvaad, Sunfeast and Yoga Bar gives ITC a concrete playbook to convert health-led demand into 80-100 bps annual margin gains.
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The report,
ITC chairman Sanjiv Puri outlines push into protein- and fibre-rich packaged foods to capture first-time buyers and GLP-1 users, alongside Rs 20,000 crore capex, fresh-foods expansion to North India, and aspiration to become India's top FMCG player beyond cigarettes.
Reported figures
From the report. Source details below
| 70 kitchens across | 5 cities |
|---|
Also in the report
- 41% cigarette turnover share
- 82% EBITDA from cigarettes
- FMCG exports 32% 3-yr CAGR
- 80-100 bps annual margin target
Other figures
- 740 bps margin expansion
Why it matters to operators
ITC's GLP-1 and first-time-buyer targeting via owned brands signals appetite for bolt-on protein, fibre and functional-food assets, with 32% FMCG export CAGR opening cross-border M&A optionality.
The source
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