Seeing green shoots of pickup on volumes as inflation moderates: ITC CMD Sanjiv Puri
ITC is seeing green shoots of volume growth and expects the momentum to continue sequentially, its Chairman and Managing Director Sanjiv Puri said on Sunday.
This will certainly lead to improvement in volume, but it will not happen overnight, said Puri here on the sidelines of the B20 Summit organised by the CII.
Over the ITC's plan for the demerger of its hotel business, Puri said it is going to benefit the existing shareholders by incorporating a wholly-owned new subsidiary ITC Hotels Ltd.
«It will be a pure-play, focused on hospitality, which can leverage the institutional strengths of ITC. And ITC in turn will be able to leverage the synergy on its hospitality business, or its FMCG businesses,» Puri told PTI.
It is a «very robust» model, which will help the business to make the hotel business accelerate progress, whilst retaining synergies and it will improve the financial metrics of ITC, he added.
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Over inflation, Puri said this is mainly on account of two factors — the bigger one is more of the external factors in the geopolitical environment and the second is on account of the issues of climate change.
«However, now, India is much better placed in the rest of the world and I would like to compliment the government for stewarding management of inflation and being extremely proactive in taking the right steps to control that,» he said.
In the recently concluded June quarter, ITC and several other FMCG makers reported volume gains and improvement in margins. ITC has 25 brands including Aashirvaad, Bingo, Sunfeast, YiPPee, Fiama, Vivel, Savlon etc.
When asked about the revival of consumer sentiments and volume growth, especially
