ITC overtook Britannia to become number 2...

ITC, one of the most prominent FMCG companies in the country, has achieved a new milestone. ITC has now overtaken Britannia to become the second-largest company in the packaged food segment. Now ITC will compete with the multinational FMCG company Nestle, which is in the first place.

ITC overtakes Britannia for the first time

ITC has achieved this position in terms of sales. That is, in terms of sales, only Nestle is ahead of ITC in the packaged food segment. This is the first time that ITC's sales have been more than Britannia's in terms of packaged food. ITC sells many products in the packaged food segment. ITC's major products include Aashirvaad Atta, Bingo Potato Chips, Sunfeast Biscuits, etc.

Sales of ITC and Britannia

According to the recently released annual report of ITC, the sales of its food business stood at Rs 17,194.5 crore in the financial year ended march 31, 2024. This includes both domestic sales and export figures. On the other hand, the total sales of Britannia's food business during the last financial year was Rs 16,769.2 crore.

Nestle is so far ahead of ITC

At the same time, the sales figure of Nestle india in the last financial year was Rs 24,275.5 crore. However, due to the company shifting the financial year from January-December to April-March, this sales figure is for 15 months instead of 12 months. Even if seen on the basis of 12 months, Nestle's indian unit is ahead of its local competitors. In the 12 months from april 2023 to march 2024, Nestle India's sales stood at Rs 19,563 crore, which is more than the sales of the food business of the second-ranked company ITC.

Aashirvaad flour made a major contribution.

The rise in the price of flour is the main reason for ITC to get the second position in the food business for the first time. During the last financial year, the prices of flour in the country have increased by 7 to 8 percent. Packaged flour brand Aashirvaad has contributed the most to the total sales of the company's food business. Overall, ITC's food business sales have increased by 9 percent during the last financial year.