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INDIAN TOBACCO COMPANY

ITC VS HUL
[Type the document subtitle]
webwrld

2011

[TYPE

THE COMPANY ADDRESS]

CHAPTER 1: ITC LIMITED

COMPANY PROFILE

The company enjoys the leadership across the 4 industry verticals

Tobacco, Hotels, Paperboards & Packaging, Agriculture

TOBACCO DIVISION
The company started in the year 1910 with the cigarettes business and devoted the first six decades to the cigarettes business only which it later on expanded to other divisions as well .

Today ITC Ltd is the market leader in this segment with its wide range of brands like Insignia, India Kings, Classic, Gold Flake, Silk Cut, Navy Cut, Scissors, Capstan, Berkeley, Bristol and Flake.

The leadership of ITC ltd in domestic & international markets ,is credited to its strategy of investment in product design, innovation, quality, & distribution.

HOTELS:
In the year 1975 the company incorporated itself into the hotels division with its first hotel Chola Sheraton , Madras . Today ITC ltd is amongst

India's finest and fastest growing hotel chains. It consists of over 90 hotels across 77 destinations in India. These include super deluxe and five star hotels, heritage palaces, havelis and resorts and full service budget hotels. Since then ITC's Hotels business has grown to occupy a position of leadership, with over 70 owned and managed properties spread across India.

Paper boards & packaging

ITCs Paperboards and Specialty Papers Division came into the existence in the year 1979, & is Indias largest and most technologically advanced paper and paperboards business.

ITC caters to a wide spectrum of packaging, graphic, communication, writing, printing and specialty paper requirements. ITCs this division also enjoys the market leadership in this segment & is a supplier to market leaders across various segments. It is also the biggest exporter of coated boards in the global markets .

Agri business
In the year 1990, the company leveraged its agri sourcing competency & thus set up the agri business division for export of agri-commodities. The Division is today one of India's largest exporters.

ITC's unique and now widely acknowledged e-Choupal initiative began in 2000 now extending to 10 states covering over 4 million farmers & the companys vision is to have a network of 20,000 e-Choupals, thus extending coverage to villages

representing one sixth of rural India. ITC's Agri Business Division is the country's second largest exporter of agri-products with exports of over Rs. 1000 Crores (Rs. 10 billion) .

LIFESTYLE RETAILING BUSINESS DIVISION

ITCs Lifestyle Retailing Business Division has established a nationwide retailing

presence through its Wills Lifestyle chain of exclusive specialty stores. providing the Indian consumer a truly 'International Shopping Experience' through world-class ambience, customer facilitation and clearly differentiated product presentation.

Wills Lifestyle offers a tempting choice of Wills Classic - work wear,

Wills Sport - relaxed wear, Wills Clublife - evening wear & fashion accessories, Wills Signature - designer wear , created by the leading fashion
designers of the country.

Essenza Di Wills an exclusive range of fine fragrances and bath &

body care products

Fiama Di Wills a range of premium shampoos and shower gels.

To capture the higher grounds the company also associated with the countrys most exclusive & prestigious fashion event WILLS INDIA

FASHION WEEK .

Apart from the wills lifestyle in the premium segment , ITC has also forayed

its presence in the youth or the popular segment with JOHN PLAYERS &

MISS PLAYERS.

John Players offers a complete and vibrant wardrobe targeting the Indian
male youth , which is now more confident & aspires for more with the enhanced fashion awareness . Brand ambassador for john players is Hrithik roshan The launch of Miss Players has added to ITCs youthful portfolio. The range which spans trendy ,funky ,smart dresses along with a whole range of cool

fashion accessories designed in appropriation with the young Indian women

mindset & the brand ambassador of this brand is Amrita

rao.

TURN OVER/EARNING PER RATIO:

ITC Ltd. concluded yet another year of strong performance with Gross Turnover at Rs.21356 crores reflecting a growth of 10.7% over the previous year. Net Turnover at Rs.13948 crores increased by 14.7% driven by the handsome 49% growth of non-cigarette FMCG businesses and a healthy performance by the Hotels and Paperboards, Paper & Packaging segments. Pre-tax profit increased by 16.4% to Rs. 4572 crores, while Post-tax profit at Rs.3120 crores registered a growth of 15.6%. Earnings Per Share for the year stood at Rs. 8.29.

For the fourth quarter, Net Turnover registered a growth of 16.7% to touch Rs. 3934 crores while pre-tax profit at Rs.1084 crores grew by 15.3%. Post-tax profit at Rs. 736 crores represents an underlying growth of 14.1% after adjusting for income tax refunds.

The Board of Directors recommended a dividend of Rs. 3.50 per Ordinary share of Re.1/- each (Previous year: Rs.3.10 per share). This will entail a total cash outflow of Rs. 1543 crores, comprising proposed dividend of Rs. 1319 crores and income tax on the proposed dividend of Rs. 224 crores.

SWOT ANALYSIS:

CHAPTER 2: INTRODUCTION TO THE JOB: A: JOB DESCRIPTION:

1. Visit each and every outlets in the city ,where a company sales person will accompany me; 2. My work is to check the availability of ITC products in each outlets. 3. Check the defect/expiry goods in the outlets. 4. Check whether ITC products are displayed in such a way it is clearly visible for the customers. 5. Also see whether the paid ITC products are displayed properly in such a manner it can be easily identified by the customers. 6. Talk to the outlet owners and make sure all the retailers are aware of all the schemes and offers. 7. Check the lines cut &bill value. 8. Calculate the bills cut: bills cut is nothing but the no. of outlets billed for the day. 9. Calculate average lines cut: average lines cut is the total no .of lines cut/ no . of outlets billed. 10. Average bill value=total bill value /bills cut. 11. Turnover =total bill value.

B :GOALS AND OBJECTIVES: 1. To check the availability ,Visibility &category movement of ITC &its competitor products in modern trade format. 2. To know the the impact of retail visibility on customers ultimate purchase intension. 3. Understanding about the functioning of merchandising system, visual merchandising &display.

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4. To find out the problems faced by the retail outlets related to ITC products. 5. To study the position of the ITC products in relation to competitors product. 6. To study the market capitalization of ITC products in total sales.

C:KEY INDIVIDUALS WITH WHOM YOU WORKED IN THE ORGANIZATION:

1 AKSHAY AHUJA Area sales manager 2 Rahul chowdary:-Zonal manager 3. Sashi -Area Executive. 4. Arvind :-Area manager. 5. vijay simha:6. IMran:-Daily sales 7. maqsood:-Daily sales(Loyal outlets) 8. ARUN:-Daily sales (Loyal outlets) 9 Fayaz ahmed (Loyal outlets).

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ITC BUSINESS PORTFOLIO:

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ITC DISTRIBUTION CHANNEL:

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THE COMPOSITION :
Manufacturing Unit. 1.seperate for each product line. 2.contract manufacturing. 3.Backward integration. 4.E-Choupal. STORAGE HUBS. 1. Stores all the products.

Distributors:

1.Exclusive based on population 2. Needs to stock all FMCG products (Except stationery). 3. Wholesalers. 4.Retailers. 5.Paanwalas . 6. Deepest penetration possible.

SUITABILITY:

Perishable: 1. Short span. 2. Customer prefer fresh products. LOT SIZE:

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1. Smaller lot sizes. 2. Convenience. 3. Waiting time. 4. Product Assortment.

CHANNEL OBJECTIVES: 1. Quality conscious. 2. Convenience goods, needs intensive distribution. 3. Demands variety, 4. Very less waiting time.

Company objectives.: 1. Reach masses 2. Rural penetration 3. Diversification 4. Competitive advantage

ALTERNATIVES: 1. Sell ready to eat products through sweet shops like bikanerwala 2. Showrooms for high end products,. 3. E- choupal:

SELECTION:

Distributor is selected based on:

1. Infrastructures ,delivery van, computer ,ware house ,sales force.

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2. Population based(1 deliver per 20-25thousand).

CONTROL: 1. Uses coercive power 2. TO deal in cigarettes ,it must to deal in other goods.

TERM &CONDITIONS:

1. Price, selling condition, go down condition etc

FUNCTIONS:

1.Manpower 2 promotion 3 credit 4 infrastructure 5 stocking.

BENEFITS:

1 NO benefits 2 higher margins 3 no credit only cash payments. 4 no freebies , paid vacations gifts etc. 5 very rarely cash gifts (linked with performance).

OTHERS:

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1 Distributors weekly 2 retailers-twice a week 3 paanwalas daily 4 online order is placed by distributor. 5 The periodical order from wholeseller ,retailer ,paanwalas is collected by staff of distributors.

PAYMENT:
1 mostly on cash basis ; sometimes post dated cheques.

Transportation:
1 uses delivery van, rickshaw cycles ,autos

CONFLICTS:
1 No conflicts, 2 some conflicts raises b/w distributor and retailer due to under supply from distributor. 3 problems.

ANALYSIS:
1 .ITC has the most popular brands of cigarettes in india. 2 the sale takes place from the largest of retailers like big bazaar, spencers to the smallest of paanwalas at every nook and corner in india. 3 Thus ITC has deeply penetrated the Indian cigarette market. 4 with an already established distribution channel fro cigarettes ,ITC is also selling safety matches ,which is complementary to both the cigarettes and agarbattis. 5 the retailers and paanwalas are also ready to stock ITC S candies ,potato chips and finger snacks because of the higher margin as compared to frito .

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6 By entering into the branded indain biscuit industry there was a business synergy. 7 ITC was already value adding to wheat with its branded atta presence .by entering the biscuits segment ,it improved its bottom line further. 8 the company used its existing network of convenience stores the companys name for the hole-in-the-wall pan beedi shops for sunfeast. 9 the company says the brand is now available in nearly 1.8 million outlets. 10 sunfeast captured around 7%in mere 3 years since its launch in 2003.

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HUL DISTRIBUTION CHANNEL:

HUL

C&F

STOCKIST

CSD CANTEENS

RETAIL OUTLET

MODERN TRADE

CUSTOMER

CUSTOMER

CUSTOMER

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Channel Design :
Hindustan Lever Limited (HUL) has two types of channel selling i. Regular (traditional) retail channel, ii. Direct Selling Channel in the name of Hindustan Lever Network (HLN). HUL has a well entrenched high distribution model which comprises of C&FAs, Redistribution Stockists, wholesalers and retailers (as shown earlier). Hindustan Unilever's distribution network is recognized as one of its key strengths. Its focuses on Product availability, Brand communication, and higher levels of brand experience.

HULs Sales Breakup through different channels:

Sales Break-up Through Different Channels

MODERN RETAIL:7%

URBA N GENERAL TRADE:60%

RURAL AREAS: 33%

Modern Retail Urban General Trade Rural Areas

Channel Structure (Special Focus is on Jamshedpur)

Typically, the goods produced in each of the HUL's 40 factories are sent to a depot with the help of a carrying and forwarding agent (C&FA). The company has its depot in every state of the country. The C&FA is a third party and gets servicing fee for stock and delivery of the products. In each town, there is at least a redistribution stockist (RS) who takes the goods from the C&FA and sells them to retail outlets. In Jharkhand the C&FA is serviced by 3 Redistribution Stockists .The HUL management realized certain

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problems with the existing sales model. First, the model was not viable for small towns with small population and small business. HUL found it expensive to appoint one stockist exclusively for each town. Secondly, the retail revolution in the country has changed the pattern the customers shop. Large retail self service shops are becoming commonplace.

In response of these problems, HUL redesigned its sales and distribution channel and the new system is known as 'diamond model' in the company. At the top end of the diamond, there are the self service retail stores which constitute 10% of the total FMCG market. The middle, fatter part of the diamond represents the profitcenter based sales team. In the bottom of the pyramid is the rural marketing and distribution which accounts for 20% of the business. As a result of the new distribution plan the company has planned to reduce the number of RS in small towns.

Redistribution Stockist :
Sales Margin:4.76% which includes cash discount, unloading expenses from depot, distribution expenses to retailers, incentive schemes & other incidental expenses. Modes of transport used: Rickshaw, tempo. Incentive schemes: Before 2000 holiday packages and tours but after 2000 no nonmonetary incentive for RS. Software systems and Information System: UNIFY 8.3 (Developed by IBM & CMC). This software needs to be synchronized daily and the system updates any information/ incentive schemes / sales figures etc to and from the common shared platform. Areas of Operations: Marked for each of the RS. Selling Operations: RSs sells the goods to o Wholesaler (gets 1.5 % max. discount from RS) o Retailers (gets 1.0% max. discount from RS) Wholesaler: Gets cash discounts and other schemes promoted by HUL (gets points under Vijeta Scheme). Retailers:

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Total retailer base in Jamshedpur:Approximately 1070. Sales Margin: Depends on the product 1 Soap, detergents 8% on MRP 2 Cosmetics 10% on MRP 3 Food items 8% on MRP Incentive schemes: Company programs (Scheme Discounts + Cash Discounts) TPR schemes based on Sales (1 % to 4 %) Vijeta scheme is not for retailers. Field Sales Force: To meet the everchanging needs of the consumer, HUL has set up a distribution network that ensures availability of all their products, in all outlets, at all times. This includes, maintaining favourable trade relations, providing innovative incentives to retailers and organizing demand generation activities among a host of other things. The important activities that HUL field sales force does are (i) target chasing and (ii) reporting on a daily basis. Account information is maintained on palmtops given by HUL. During our research and informal survey of HUL field sales force, we came to know that for the last two years, training is not being given at all to the sales force. HUL has limited the network channel selling to categories of Home & Personal Care (HPC) and Food products with exclusive brands for this channel. That is, these particular brands (products) are all exclusive to HLN, specifically developed for the Direct Selling channel, and not available in the retail channel. The general trade comprises grocery stores, chemists, wholesaler, kiosks and general stores. Hindustan Unilever services each with a tailormade mix of services. Initiatives taken to Improve the Distribution Network : HUL has taken the following initiatives to improve its distribution network: Setting up of a fullscale sales organisation comprising key account management and activation to impact, fully engage and service modern retailers as they emerge. Servicing Channel partners and customers with continuous daily replenishment. Leveraging scale and building expertise to service Modern Trade and Rural Markets. Delayering of sales force to improve response times and service levels.

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Revamping of its sales organisation in the rural markets to fully meet the emerging needs and increased purchasing power of the rural population. HULs distribution network in rural India already directly covers about 50,000 villages, reaching about 250 million consumers through about 6,000 sub stockists. 15 Implementation of supply chain system that connects stockists across the country, and also includes a backend system connecting suppliers, all company sites and stretching right up to stockists. IT tools have been deployed for connectivity across the extended supply chains. Backend processes have been combined into a common Shared Service infrastructure. Launching of Project Shakti through which the company is able to extend its operations in villages. HUL has also included several NGOs and state governments as the initiative helps rural women to improve their financial position. Launching of HUL Network to leverage the channel of direct selling by presenting customised offerings in 11 home and personal care and food categories. Started in 2003, it already has a base of 300,000 consultants across the country. Starting of franchised Lakme Beauty Salons and Ayush Therapy centres to offer standardised services, in line with the strategy to leverage the equity of its brands through relevant services. Finding out Innovative ways to reach out to its consumers, particularly in rural areas by leveraging nonconventional media like wall paintings, cinema vans, weekly markets (haats), fairs and festivals. Initiating the concept of Super Value Stores (SVS) in urban areas to partner traditional stores to provide a range of services ranging from managing their inventory to setting up POS (point of sale) banners. In addition to this, to boost up traditional retail in the face increasing inroads made by large, modern retailing chains like Spencers, Reliance Fresh etc (where HUL is squeezed harder for discounts), HUL started restructuring some of the selected SVSs into the form of self service retail shops a la modern retails. This is to protect & maintain the competitive advantage that HUL has over its biggest competitors in the other markets (e.g., P&G), with its very deep distribution reach through traditional retail.

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Launching the Unicare scheme with upmarket pharmacies and retailers to sale its premium brands. Undertaking several initiatives for traditional channels in order to improve its capabilities at the frontend by developing skills for stockists' sales force. Under 'Project Dronacharya', the FMCG major continuously imparted training to over 10,000 stockist salesmen. Launching of several promotional schemes for existing wholesalers and distributors. For instance, it has started the Vijeta Rishta Jeet Ka scheme last year to provide a platform for the wholesaler and HUL to grow the business by earning points and redeeming them.

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CHAPTER 3: JOB DESCRIPTION:

S.NO 1 2

PARAMETERS LEVELS OF DISTRIBUTIONS MARGINS FOR WHOLESALERS

MARGINS FOR RETAILERS

ITC 3 LEVELS ATTA-2.85%,BISCUITS3%,PREMIUM BISCUITS3.5%,CIGARETTES1.4%,PERSONAL CARE3%. CIGARETTES-10% T O 15%,FOODS-12% TO 20%

HUL 3 LEVELS WHOLESALERS-8%+1.5% EXTRA,PERSONAL CARE 14%,LAKEME -12%KISSAN 10%,3 ROSESRETAILERS-8%,PERSONAL; CARE ONAL CARE-10%,FOODS10%,LAKEME-12 TO 15%,3 ROSES 6%,KISSAN -10%

INCENTIVES FOR DISTRIBUTION SALES PEOPLE IS DIFFERENTIAL PRICING FOLLOWED

DEPENDS UP ON ACHIEVING TARGET .RS 3500 TO 4000 YES,

DEPENDS UP ON ACHIEVING TARGET .RS 2000.CONCENTRATE ON BILL PRODUCTIVITY. THERE IS NO DIFFERENCE IN PRICING ;PRICE IS SAME FOR BOTH WHOLESALERS &RETAILERS. SAME AS WHOLESALERS &RETAILERS. NO YES;(1)VIJETHA -1.5 % INCENTIVE,(2)SUPER VALUE STORES -10 RACKS DISPLAY(VARITIES)3%INCENTIVE(3)MASS RETAILERS3%(4)REGULAR OUTLET -DISPLAY ASSURED. 3 C &F

6 7 8

MARGAINS TO MALLS ARE VAN SALES INCENTIVES GIVEN DISPLAY INCENTIVES FOR RETAILERS.

SAME AS WHOLESALERS &RETAILERS. RURAL-YES;URBAN-NO YES;(1)CATEGORY LEADERSHIP OUTLETS(CLO):PURCHAS E FOR RS 100-1 RUPEE INCENTIVE,(2)TACTICAL DISPLAY:500 TO 1000 / MONTH THERE IS ONLY WHOLESALE SERVICE PROVIDE AND NO C&F 18 &MORE(DISTRICT WISE)

NO.OF C&F AGENTS/STATE

10

NO.OF DISTRIBUTORS/WHOLESALER S

1 DISTRIBUTOR/DISTRICT

25 11 12 TERRITORY SIZE OF EACH DISTRIBUTORS HOW IS THE TERRITORY FIXED HOW MANY DISTRIBUTORS FOR SALES OFFICER NO CONSISTENCY EVERY 15 KMS.

SALES;SALES MOVEMENT INVESTMENT,RECORDS,CUSTOME OF R SATISFACTION,MAN POWER CIGARETTES;LOCATION. BIG TERRITORY-1 WD'S,MEDIUM -2 WD'S,SMALL TERRITORY -3 WD'S. FOCUS ON SALES;TARGETS,REPORTS TO AE. AREA EXECUTIVE:CONVERTS DATA TO INFORMATION&SEND IT TO HIGHER AUTHORITIES;AE FINALISES THE SALARIES,EACH AE DEAL WITH 3 WD'S. CIGARETTES EVERYDAY;FOODS &PERSONAL CARE -1 WEEK ORDER. YES. SCI FI FOR WD'S..WASP & SAP. YES ITC TAKES THE DEFECTED PRODUCT BACK FROM THE OUTLET SEND IT TO THE DEPOT&GIVE THE MONEY BACK TO THE OUTLET. ONLY 1.

13

14

DISTRIBUTION OF WORK B/W COMPANY SALES OFFICER &DISTRIBUTION SALES PERSON

GUIDE TARGET/SALES;IMPROVE SALES/BRAND IMAGE. SALES PERSON:TAKE ORDER,DELIVER ORDER..

15

HOW THE ORDERS ARE LOOKED .

NEXT DAY.

16

IS THERE A INVENTORY MANAGEMENT SOFTWARE USED. IS ERP USED. REVERSE LOGISTICS/HOW ARE THE EXPIRY/DEFECTS/SPOILED GOODS MANAGED(ARE THEY COLLECTED BACK)HOW ARE THE CHANNEL PARTNERS REIMBURSED.

CRS &INFLOW INVENTORY MANAGEMENT SOFTWARE NO DETECT VALUE FROM THE BILL.

17 18

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Sl.No Outlet Name 1 Athithya Provision Stores Shanmuga Provision 2 Stores 3 Rose Provision Stores 4 Venkateshwara Buy Sell 5 S.Kandha Medicals Mallai Madseshwara 6 Stores 7 R J S Rice Corner 8 Mohan Medicals 9 Annaporna Rice Traders 10 Ayna Provision Stores Gaathi Subramanyam 11 Stores 12 S S Condiments 13 L K Provision Stores 14 B R D Stores Banshankari Provision 15 Stores 16 Asha Department Stores 17 P K Provision Stores 18 Sri Banshankari Stores Balaji Departmental 19 Stores 20 P K M Stores 21 Srinivasa Stores 22 Annapoorneshwari Stores 23 Siddeshwara Stores Kaveri Departmental 24 Stores

Vivel Soap 20 12 12 12 12 36 24 12 24 30 9 0 24 14 22 36 7 7 36 24 12 4 24 15

Vivel Active Fair Sachet 10 12 12 10 3 120 8 10 0 3 20 18 24 3 5 24 5 6 16 2 12 5 13 18

Vivel Active Fair Tube 0 3 0 0 6 7 4 8 2 3 4 0 0 0 6 0 3 0 6 8 2 3 2 6

FDW soap 0 0 0 0 3 0 0 0 0 0 0 0 0 6 5 6 0 0 0 6 0 0 0 0

Any Mangaldeep Shampoo 0 36 24 24 0 24 19 2 8 12 18 12 36 12 12 12 5 15 6 24 35 12 40 24 0 0 0 0 6 0 0 0 0 36 0 30 0 7 12 0 48 0 0 36 0 24 24 0

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Market Accompaniment Report (Grocery 2)

Name : VIJAY SIMHA. WD D.A Sons DS MAR KET FAYAZ AHMED KS LAYOUT DA TE RO UTE 4/20/2011 WEDNESDAY_ALL CAT

Freshness Stoc k Rota tion requi red betw een outle ts?

Visibility (unpaid)

Inputs

Shampoo

2 3

7 8 9

BALAJI BUY & SAVEISRO LayoutC FAIZAN STORES GANESH MARUT HI DEPT ILIYAAZ PROV STORES KARNAT AKA PROV STORES M.K AHMED SUPER SHOPISRO Layo MANI PROV STORES MK STORES RASHMI STORES

NO

YE S YE S YE S YE S YE S

Soaps

Sl. No.

Outlet Name

D& D fou nd in outl et?

Stock Rotatio n require d within outlet?

Paid visibil ity qualit y

Scheme s impleme ntation

Action Taken if any issues with Freshn ess / Inputs/ Others

Last 3 weeks avg

Today's Compe tition Activit es

Lin es Cu t

Bill Val ue

Lin es Cut

Bill Val ue

YE S

YES

YES

35 5

NO NO

NO YE S YE S

NO YES

YES YES

0 5 2. 7

0 ## ## 37 1 40 1

2 0

65 4 0

NO

NO

YES

NO

NO

NO

YES

80 0

NO

YE S

YE S

YES

YES

4. 5

## ##

NO NO NO

YE S YE S YE S

NO YE S YE S

NO NO NO

YES YES YES

0 1 1

0 17 0 12 5

0 0 0

0 0 0

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ROYAL DEPT SANIA TEA STALL SHOP & SAVE_IS RO SHOP N SAVE SRI ASHAKA RAN TRADER S SLV TRADER S YE S NO DA TA YE S YE S YE S YE S NO DA TA YE S YE S 74 1 98 71 3 ## ## 44 0

10 11

NO NO DA TA NO YE S

YES NO DAT A YES YES

YES NO DATA YES YES

4 1 2. 7 6

0 NO DA TA 9 12

0 NO DA TA ## ## ## ## 31 1

12 13

14

NO

NO

NO

YES

15

NO

YE S

YE S

NO

YES

## #

Route Produ ctivity details Bills Cut Averag e Lines Cut Averag e Bill Value TurnOv er

Last 3 week Avg

Today

The AE can keep noting down all competition activities on the rightmost column. Not outletwise On all 3 freshness parameters, the AE needs to enter even if a single SKU of D&D is found or any stock which requires stock rotation is found else x Visibility (soap and shampoo): If unpaid visibility is there for soap/shampoo put ,else x Paid Visibility Quality: If the quality of display is as per the norm set for the display by the Branch / AE, then enter else x If all trade schemes implementation is satisfactory, then enter . If implemented but not satisfactory enter x, if not implemented at all put a 0 In case of any issue with any of the 3 freshness parameters or Input implementation, the AE needs to note down the action taken. If any other intervention are made they should be captured here.

8.67

2.33

2.92

651.03

1850.33

5642.26

11,102

29 Market Accompaniment Report (Grocery 2)

Name : VIJAY SIMHA. W D D.A Sons DS MAR KET IMRAN DA TE RO UT E 4/21/2011 T G PuraCat_2

Freshness Stoc k Rot atio n requ ired bet wee n outl ets?

Visibility (unpaid)

Inputs

Shampoo

AMARAVATH I PROV STORE BALAJI STORES-T G PuraCat_1 BANASHANK ARI MEDICAL BANASHANK ARI PROV STORE. BHUVANESH WARI TRADERS_TG DEEPAK FANCY STORE GANESH PROV STORE_TG PURA GURURAGHV ENDRA PROV STORES HANUMAN RICE CORNER JAGADAMBA PROV STORE

NO DA TA NO NO NO

N O DA TA YE S YE S YE S YE S YE S YE S YE S

Soaps

Sl. No .

Outlet Name

D& D fou nd in outl et?

Stock Rotati on requir ed within outlet ?

Paid visibi lity qualit y

Scheme s implem entation

Action Taken if any issues with Freshn ess / Inputs/ Others

Last 3 weeks avg

Today' s Comp etition Activit es

Li ne s Cu t

Bill Va lue

Lin es Cu t

Bill Val ue

N O DA TA YE S YE S N O N O YE S YE S N O

NO DAT A NO YES YES

NO DATA

OUTLET WAS CLOSED

N O DA TA 0 2 0

N O DA TA 0 11 0 0 30 0 20 0 70 0 22 5 N O DA TA 22 5

2 3 4

YES YES YES

3. 5 2 2 3. 5 4

55 9 38 6 24 5 82 1 26 2 55 2 62 3

5 6

NO NO

NO NO

YES YES

2 5

NO

NO

YES

NO

NO

YES OUTLET WAS CLOSED

1 N O DA TA 1

0 13 47

10

NO

YE S

N O

NO

YES

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JANAPRIYA PROV STORES KAVERI GEN STORE LALITH PROV STORES

11 12

N O N O

YE S YE S

YE S YE S

NO NO

YES YES OUTLET WAS CLOSED OUTLET WAS CLOSED

7 9

90 3 15 75 16 5

0 0 N O DA TA N O DA TA 4

0 0 N O DA TA N O DA TA 25 00 0

13

14

MANJUNATH A VIKAS MARUTHI TRADERS_TG P MATHAJI PROV STORE_TGP MYSO PROVISION STORE NAGESHRA PROV STORES NAMANA MEDICALS RAGHVENDR A ENTERPRISES RAGHVENDR A STORES_TGP RENUKAMBA PROV STORES S.R GENERAL STORE SAGAR PROV STORE_TGP SHAMBULIN GESHWARA PROV STORES SHIVANI PROV STORES N O YE S YE S NO YES N O N O N O N O N O N O YE S YE S YE S YE S YE S YE S N O N O YE S N O YE S N O

15

NO

YES

0 1. 5 4

0 14 20 13 67 0 10 8 98

16

NO

YES

17

YES

YES

0 62 5 51 0 0 N O DA TA N O DA TA N O DA TA 0 N O DA TA N O DA TA

18 19 20

NO YES NO

YES YES YES OUTLET WAS CLOSED OUTLET WAS CLOSED OUTLET WAS CLOSED

0 1 1

5 7 0 N O DA TA N O DA TA N O DA TA 0 N O DA TA N O DA TA

21

22

10 00

23

24

0 OUTLET WAS CLOSED OUTLET WAS CLOSED

0 44 1

25

26

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SIDDESHWAR A PROV STORES-T G Pu SRI BALAJI MEDICAL & GEN STORE SRI LAKSHMI VENKETESH WARA PROV SRI NAGA CHOWDESH WARI STORES SRI RAMA PROV STORES SUBRAMANY A GEN STORES-T G Pura THIBBA DEVI PROV STORE UMA CHANDRA MAULESHWA RA PROV S USHA PROV STORES VAIDHYANAT HESHWARA FANCY & GEN VENKATESH WARA PROV STORES-T G VIJAYALAKSH MI PROV STORES N O YE S N O YES YES

27

N O N O N O N O N O

YE S YE S YE S YE S YE S

N O YE S YE S YE S YE S

NO

YES

10

84 3

28

NO

YES

25 0 0 23 0 19 8 N O DA TA 0

29

NO

YES

0 45 8 18 8

30

NO

YES

9 1. 5 OUTLET WAS CLOSED

31

YES

YES

1 N O DA TA 0

32

0 32 6 36 9 0

33

N O N O N O

YE S YE S YE S

YE S N O YE S

NO

YES

34

NO

YES

35

NO

YES OUTLET WAS CLOSED OUTLET WAS CLOSED

0 N O DA TA N O DA TA 4

0 N O DA TA N O DA TA 55 0

36

37

38

Route Productivit y details Bills Cut Average Lines Cut Average Bill Value

Last 3 week Avg 9 3.93 668.34

Today

The AE can keep noting down all competition activities on the rightmost column. Not outletwise On all 3 freshness parameters, the AE needs to enter even if a single SKU of D&D is found or any stock which requires stock rotation is found else x Visibility (soap and shampoo): If unpaid visibility is there for soap/shampoo put ,else x Paid Visibility Quality: If the quality of display is as per the norm set for the display by the Branch / AE, then enter else x

13 3.38 509.4

32
If all trade schemes implementation is satisfactory, then enter . If implemented but not satisfactory enter x, if not implemented at all put a 0 In case of any issue with any of the 3 freshness parameters or Input implementation, the AE needs to note down the action taken. If any other intervention are made they should be captured here.

TurnOver

6015.07

6,623

Market Accompaniment Report (Grocery 2)

Name : VIJAY SIMHA. W D.A Sons D DS MAR KET IMRAN DA TE RO UTE 4/22/2011 IliyazNagarCat_2

Freshness Stoc k Rota tion requ ired betw een outle ts?

Visibility (unpaid)

Inputs

Shampoo

ALAMEEN STORES AL-SHIFA MEDICALS ANJANEY A STORES ANURADH A MEDICALS ASIAN MEDICALS

NO NO DA TA NO NO NO DA TA

YE S N O DA TA YE S YE S N O DA TA

Soaps

Sl. No.

Outlet Name

D& D fou nd in outl et?

Stock Rotati on requir ed within outlet?

Paid visibil ity qualit y

Scheme s impleme ntation

Action Taken if any issues with Freshn ess / Inputs/ Others

Last 3 weeks avg

Today' s Comp etition Activit es

Lin es Cu t

Bill Val ue

Lin es Cut

Bill Val ue

YE S N O DA TA N O N O N O DA TA

NO NO DAT A NO NO NO DAT A

YES

3. 5

54 0 13 8 0 33

0 N O DA TA 0 3 N O DA TA

0 N O DA TA 0 11 0 N O DA TA

NO DATA YES YES

3 4

0 0

NO DATA

33
ASLAM STORE BALAJI PROV STORESJayanagar Ca BISMILLA STORE GOPAL STORES HAJI STORES HSP STORE INDIAN STORES JAI GURU PROV STORE K.S SHOPPEE KARNATA KA MEDICAL & GEN STORE KRISHNA MED & GEN STORES MADEENA STORES MAITHRI MEDICALS MANJUNA THA PROV STORESIliyazN MODERN MEDICALS YE S YE S N O DA TA YE S YE S YE S YE S N O DA TA N O DA TA YE S N O DA TA YE S N O DA TA N O DA TA N O DA TA YE S YE S N O DA TA N O N O N O YE S N O DA TA N O DA TA N O N O DA TA N O N O DA TA N O DA TA N O DA TA 10 0

NO

NO

YES

NO

NO

YES

90

NO DA TA NO NO NO NO NO DA TA NO DA TA

NO DAT A NO NO NO NO NO DAT A NO DAT A

NO DATA YES YES YES YES NO DATA

N O DA TA 0 0 0 0 N O DA TA N O DA TA

N O DA TA 0 0 0 0 N O DA TA N O DA TA

9 10 11 12

0 3 0 2. 5 0

0 42 8 0 27 2 0

13

14

NO DATA

15

NO

NO

YES

14 8

16

NO DA TA NO NO DA TA NO DA TA NO DA TA

NO DAT A NO NO DAT A NO DAT A NO DAT A

NO DATA YES NO DATA

0 40 7 25 1

N O DA TA 3 N O DA TA N O DA TA N O DA TA

17

18

19

NO DATA

20

NO DATA

26 9

N O DA TA 25 0 N O DA TA N O DA TA N O DA TA

34
NAJU STORES PATEL FANCY & GIFT CENTER PRAKASH CONDIME NTS PRASANN A MEDICALS RADHA MEDICALS RAJESHW ARI STORESPG & C O/LCa RAMESH STORES RAMNAT H MEDICAL & GEN STORES RUBIYA STORESIliyazNaga rCat_1 S.F STORES SAPTHAGI RI GEN & PROV STORES SHANKAR TRADERS SRI KANTESH WARA PROV STORE. SRI KRISHNA MEDICALS YE S N O DA TA YE S YE S N O DA TA N O DA TA N O DA TA YE S N O N O DA TA YE S YE S N O DA TA N O DA TA N O DA TA YE S 82 0 0

21

NO NO DA TA NO

NO NO DAT A NO

YES NO DATA

0 N O DA TA 2

0 N O DA TA 10 0 0 N O DA TA N O DA TA N O DA TA

22

23

YES

19 5 25 3

24

NO NO DA TA NO DA TA NO DA TA

NO NO DAT A NO DAT A NO DAT A

YES

0 N O DA TA N O DA TA N O DA TA

25

NO DATA

26

NO DATA

45 1

27

NO DATA

28

NO

NO

YES

29

NO

YE S N O DA TA YE S YE S N O DA TA N O DA

N O N O DA TA N O YE S N O DA TA N O DA

NO

YES

0 N O DA TA 0

0 N O DA TA 0

30

NO DA TA

NO DAT A

NO DATA

31

NO

NO

YES

14 6 18 8

32

NO NO DA TA NO DA TA

NO NO DAT A NO DAT A

YES

0 N O DA TA N O DA

0 N O DA TA N O DA

33

NO DATA

34

NO DATA

35
& GEN STO 35 SRI SHANTHI TRADERS SRINIVAS A TRADERSJayanagar Cat SUHAS DEPT STORES SUMAN MEDICALS SUSHMA SUNSHINE FASHIONS SYED STORES_2 TAVAKKAL PROV STORE VASAVI PROV STORES_IL IYAZ VASAVI PROV STORES_P P VENKATES HWARA TRADERS_ JN VINAYAKA PROV STORESJayanagar NO DA TA TA N O DA TA YE S N O DA TA YE S N O DA TA YE S YE S YE S TA N O DA TA YE S N O DA TA YE S N O DA TA YE S N O N O NO DAT A TA N O DA TA TA N O DA TA

NO DATA

36

NO

NO

YES

82 4

37

NO DA TA NO NO DA TA NO NO

NO DAT A NO NO DAT A NO NO

NO DATA YES NO DATA YES YES

0 19 6 0

N O DA TA 2 N O DA TA 1 4

38

39

N O DA TA 30 0 N O DA TA 50 32 5 10 00

40 41

0 0

0 0

42

NO

YES

YES

43

NO

YE S N O DA TA YE S

N O N O DA TA N O

NO

YES

0 N O DA TA 0

0 N O DA TA 0

44

NO DA TA

NO DAT A

NO DATA

45

NO

NO

YES

Route Producti vity details Bills Cut

Last 3 week Avg

Today

The AE can keep noting down all competition activities on the rightmost column. Not outletwise On all 3 freshness parameters, the AE needs to enter even if a single SKU of D&D is found or any stock which requires stock rotation is found else x

36
Average Lines Cut Average Bill Value TurnOver Visibility (soap and shampoo): If unpaid visibility is there for soap/shampoo put ,else x Paid Visibility Quality: If the quality of display is as per the norm set for the display by the Branch / AE, then enter else x If all trade schemes implementation is satisfactory, then enter . If implemented but not satisfactory enter x, if not implemented at all put a 0 In case of any issue with any of the 3 freshness parameters or Input implementation, the AE needs to note down the action taken. If any other intervention are made they should be captured here.

3.19 382.78 2679.48

3.125 279.37 2235

Market Accompaniment Report (Grocery 2)

Name : VIJAY SIMHA. W D D.A Sons DS MAR KET B.ANAND_KA MLESH DA TE RO UT E 4/23/2011 KanakaNagarCat_2

Freshness Stoc k Rota tion requ ired betw een outl ets?

Visibility (unpaid)

Inputs

Shampoo

ABHI STORE ADITYA PROV STORES ASMA TRADERS BALAJI BUY N SAVE

NO DA TA NO NO NO

N O DA TA YE S YE S YE S

Soaps

Sl. No .

Outlet Name

D& D fou nd in outl et?

Stock Rotati on requir ed within outlet?

Paid visibil ity qualit y

Scheme s impleme ntation

Action Taken if any issues with Freshn ess / Inputs/ Others OUTLET WAS CLOSED

Last 3 weeks avg

Today' s Comp etition Activit es

Lin es Cu t

Bill Val ue

Lin es Cut

Bill Val ue

N O DA TA N O YE S YE S

NO DAT A NO YES NO

NO DATA

34 9 33 3 25 5 14 0

N O DA TA 5 0 0

N O DA TA 82 3 0 0

2 3 4

YES YES YES

3 2. 5 2

37
BEST PROVISION BHAGYALA KSHMI STORES CHOWDES HWARI PROV STORES KAVERI DEPT STORES LAKSHMI VENKATES HWARA PROV STO M.KUMAR PROV STORES MAHADES HWARA STORE MAHADEV FANCY & GIFT CENTRE MAHAVEE R ENTERPRIS ES MANJUNA THA PROV & COIN BOOTH MANJUNA THA PROV STORES MANJUNA THA STORE_KN NANJUNDE SHWARA PROV STORES PARIS CONDIME NTS PAVAN PROV STORES RAZZACK RICE YE S YE S YE S YE S YE S YE S N O N O DA TA N O DA TA YE S YE S YE S YE S YE S YE S YE S N O YE S YE S N O N O N O N O N O DA TA N O DA TA N O YE S YE S YE S YE S N O N O 25 6 0 23 0 15 00

5 6

NO NO

NO NO

YES YES

2 0

2 9

NO

NO

YES

3. 5

46 6 42 0 25 3 40 2 53

60

NO

NO

YES

50 0 70 0

NO

NO

YES

10

NO

NO

YES

11

NO NO DA TA NO DA TA

NO NO DAT A NO DAT A

YES OUTLET WAS CLOSED OUTLET WAS CLOSED

0 N O DA TA N O DA TA 3

0 N O DA TA N O DA TA 60 0 30 5 0

12

NO DATA

13

NO DATA

14

NO

NO

YES

24 6

15

NO

NO

YES

0 60 7

16

NO

NO

YES

17

NO

NO

YES

18

NO

NO

YES

0 68 9 24 6

19 20

NO NO

NO NO

YES YES

3 3

0 0

0 0

38
BAZAAR 21 22 RELIEF MEDICALS ROSHAN GEN STORES SANTOSH PROV STORES SHANMUG AM PROV STORES SIDDESHW ARA STORES SK STORES SRI KANTESH WARA RICE TRADERS SRI VENKATES HWARA PROV STORES STANDARD MEDICALS & GEN STORES VASAVI PROV STORES VEER BADRESH WARA SWAMI DOSE VENKATES HWARA BUY & SAVE VENKATES HWARA PROV STORES VINAYAKA PROV STORES NO NO YE S YE S YE S YE S YE S YE S YE S YE S YE S N O N O YE S N O YE S NO NO YES YES 0 0 0 0 0 2 0 25 0 34 5 0

23

NO

NO

YES

0 33 2 80 3 66 5 58 9

24

NO

NO

YES

25 26

NO NO

YES NO

YES YES

2 2 3. 6

0 0

0 0 49 5

27

NO

NO

YES

28

NO

YE S

N O

NO

YES

35 0

29

NO

YE S N O

YE S YE S

NO

YES

30

NO

NO

YES

31

NO

YE S N O DA TA YE S YE S

N O N O DA TA N O YE S

NO

YES

15 1

32

NO DA TA

NO DAT A

NO DATA

OUTLET WAS CLOSED

19 9

N O DA TA 1

N O DA TA 25 0

33

NO

NO

YES

19 8 27 0

34

NO

YES

YES

1. 5

39

Route Productiv ity details Bills Cut Average Lines Cut Average Bill Value TurnOver

Last 3 week Avg 11 2.7 359.39 3953.25

Today

The AE can keep noting down all competition activities on the rightmost column. Not outletwise On all 3 freshness parameters, the AE needs to enter even if a single SKU of D&D is found or any stock which requires stock rotation is found else x Visibility (soap and shampoo): If unpaid visibility is there for soap/shampoo put ,else x Paid Visibility Quality: If the quality of display is as per the norm set for the display by the Branch / AE, then enter else x If all trade schemes implementation is satisfactory, then enter . If implemented but not satisfactory enter x, if not implemented at all put a 0 In case of any issue with any of the 3 freshness parameters or Input implementation, the AE needs to note down the action taken. If any other intervention are made they should be captured here.

14 2.9 439.85 6158

40

CHAPTER 4: ANALYSIS:
1000 900 800 700 600 SIS 500 400 300 200 100 0 FDW DOVE VIVEL LUX GODREJ SUPERIA BREEZE AM STOCK AM SALES

soaps SIS AM STOCK AM SALES

FDW 60 38 50

DOVE 90 60 300

VIVEL 60 40 70

LUX

GODREJ SUPERIA BREEZE 240 240 60 240 160 180 50 200 900 750 105 350

41
300 250 200 150 100 50 0 GOLDEN GOOD DARK HIDE & SPECIAL SPECIAL SEEK CASHEW BUTTER GOOD DAY BAKERY COOKIES MILANO FANTASI SIS AM STOCK AM SALE

BISCUITS BAKERY COOKIES MILANO FANTASI SEEK CASHEW BUTTER DAY GOLDEN GOOD DARK HIDE & SPECIAL SPECIAL GOOD SIS 36 20 40 60 90 40 30 24 AM STOCK 25 15 24 40 75 15 20 18 AM SALE 80 60 100 110 250 120 90 70

42

140 120 100 80 60 40 20 0 SUNFEAST BRITANNIA BOURBON BOURBON SPECIAL CREAM DREAM CREAM BRITANNIA TREAT SIS AM STOCK AM SALE

BISCUITS
SIS AM STOCK AM SALE

SUNFEAST BOURBON 30 25 90

BRITANNIA BOURBON 30 20 120

SPECIAL CREAM 30 22 90

DREAM CREAM 30 22 90

BRITANNIA TREAT 30 25 90

43

1400 1200 1000 800 SIS 600 400 200 0 SUNFEAST BRITANNIA SNACKY MARIE MARIE MONACO SUNFEAST PARLE G GLUCOSE AM STOCK AM SALE

BISCUITS
SIS AM STOCK AM SALE

SUNFEAST MARIE 46 30 200

BRITANNIA MARIE

SUNFEAST SNACKY MONACO GLUCOSE 100 80 120 80 60 80 400 200 600

PARLE G 140 300 100 250 400 1300

450 400 350 300 250 200 150 100 50 0 SUNFEAST PASTA BAMBINO MACRONI BAMBINO PASTA SIS AM STOCK AM SALE

44

PASTA
SIS AM STOCK AM SALE

SUNFEAST PASTA 48 30 225

BAMBINO MACRONI

BAMBINO PASTA 110 30 70 20 420 60

2 0

45

160 140 120 100 SIS 80 60 40 20 0 ASHIRWAD LAXMI BHOG AM STOCK AM SALE

ATTA SIS AM STOCK AM SALE

ASHIRWAD 18 8 150

LAXMI BHOG 10 3 50

46

3000

2500

2000 SIS 1500 AM STOCK AM SALE 1000

500

0 BINGO LAYS OTHERS

CHIPS
SIS AM STOCK AM SALE

BINGO LAYS 1000 600 1800

OTHERS 1000 800 400 2500 600 1000

47

450 400 350 300 250 200 150 100 50 0

SIS AM STOCK AM SALE

AGARBATHI MANGALDEEP CYCLE HERITAGE HARIDARSHAN DENIM SIS 120 36 36 24 24 AM STOCK 80 24 20 18 15 AM SALE 400 100 160 120 180

48

CHAPTER 5: CONCLUSIONS: ITC:

ITC is one of India's foremost private sector companies with a market capitalisation of over US $ 30 billion and a turnover of US $ 6 billion. ITC is rated among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most Reputable Companies by Forbes magazine, among India's Most Respected Companies by BusinessWorld and among India's Most Valuable Companies by Business Today. ITC ranks among India's `10 Most Valuable (Company) Brands', in a study conducted by Brand Finance and published by the Economic Times. ITC also ranks among Asia's 50 best performing companies compiled by Business Week. ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging, AgriBusiness, Packaged Foods & Confectionery, Information Technology, Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG products. While ITC is an outstanding market leader in its traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports, it is rapidly gaining market share even in its nascent businesses of Packaged Foods & Confectionery, Branded Apparel, Personal Care and Stationery.

Hindustan Unilever: which once pioneered

distribution in India, is today reinventing distribution - creating new channels, and redefining the way current channels are serviced. In the process it is converging product availability, with brand communication and brand experience.

Hindustan Unilever,ltd is a leading FMCG company in india and from last three consecutive years has shown accelerated growth in FMCG portfolio .customers in india are also spending more in FMCG as their standard of living is growing .HUL has placed itself successfully

49

In the position of market leader in FMCG products .Though there was some downfall in sales and profit of the company in the beginning of this decade but after that HUL has shown considerable rise in sales and profit .the future of the company is also looking bright as FMCG market in india is still expanding and so we can safely conclude that HUL will be able to secure its number one position in FMCG product.

SUGGESTIONS:
COMPARITIVE ANALYSIS OF BOTH THE COMPANIES UNDER SOME HEADS: HUL: HUL is the largest pure-play FMCG company in the country and has one of the widest portfolio of products sold via a strong distributional channel. It owns and markets some popular brands in the country across various categories ,including soaps ,detergents ,shampoos ,tea and face creams.

ITC: ITC is not a pure-play FMCG company ,since cigarettes is its primary business . It is diversifying into non-tobacco. FMCG segments like foods , personal care ,paper products ,hotels and agri-business to reduce its exposure to cigarettes.

RISK FOR BOTH THE COMPANIES: HUL: Being an MNC operating in india , HUL is more conservative in its strategies than its Indian counterparts .moreover, given increasing competition ,it faces the risk of being overtaken by domestic players in various categories. The company large size also poses a problem , since it does not give HUL the agility to address the competition it faces from national &regional players.

50

ITC:

Increased regulatory clamps on tobacco ,along with rising tax burden, pose a business risk for ITC. So ,it has started an ambitious diversification plan ,which has its own set of risks. Then they diversified into FMCG sector.

Overall strategy: HUL: HUL always believes in customer friendly products with Major emphasis on low cost overall without compromising on the quality of the product. They are leveraging the capabilities and scale of the parent company and focusing on the value of execution. The entire product portfolio is also being tweaked to include premium offerings such as ponds age miracle and dove shampoo in skin and haircare. ITC: ITC is focusing on delivering value at competitive prices. Its tremendous reach through extensive distribution chain has been a competitive advantage. Additionally ,the company has e- choupal model for direct procurement is well known under with ITC partners with over 100,000 farmers for spices and wheat procurement and even large no. for oilseeds. this kind of rural pedigree is hard to beat. GROWTH DRIVERS: HUL:

The company has been launching new products and brand extensions, with investment being made towards brand buildings and increasing its market share.HUL is also streamlining its various business operations ,in line with the one unilever philosophy adopted by the unilever group worldwide .introduction of premium products and addition of new consumers via market expansion will be HULS growth drivers.

51

ITC: Itc backward integration to ensure that its products pass efficiently from the farms to consumers has helped it to cut down supply and procurement costs. ITCs non-cigarette FMCG business leverages the large distributions network the company has developed by selling cigarettes over the years. A rich product mix ,along with ramp up of investments in its new sectors, will be instrumental in charting ITCS growth path.

Conclusion:

HULS up and-running business model is a treat for investors

seeking exposure in the FMCG segment .The company has delivered in the past and has the potential to do better in future .in the small and medium term.itc growth story is still evolving.

ITC is eyeing the pie which HUL and other FMCG players currently
enjoy. though risky ,the companies business model will pay off in the long run .ITC has proved its exposure in the cigarettes, hotels ,paper and agri business. investors who want to bank on its execution ability in FMCG can consider the stock with a long term horizon.

52