ITC - Template Is Set (With Scalability Plans): ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.ITC Ltd.’s fast moving consumer goods scale-up has ingredients to drive a long-term success story, in our view. We like the focus on: creating sub-categories (adjacencies) over targeting (direct) share gains,power brands and mother brands,developing deep research and development capabilities, dedicated Chief Operating Officer (structure) for large (food) categories andcalibrated spends with a focus on capital allocation. ITC’s new product development aggression has been robust for the last few years. Furthermore, it displayed one of the best abilities to leverage previous year’s hygiene tailwinds (Savlon). That said, we believe ITC’s success in the personal care segment is slightly underwhelming. We would (also) expect a faster scale-up in some of the premium products like coffee and chocolates (discussed below) even as ITC is looking to first develop/grow mass brands..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ITC - Template Is Set (With Scalability Plans): ICICI Securities

ITC - Template Is Set (With Scalability Plans): ICICI Securities

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