ITC, a diversified multi-business conglomerate, is reportedly considering to diversify into various new segments, including oral care, even as it is faring well in food and personal care segment. However, ITC is not the only company eyeing for the Rs 6,000 crore toothpaste market in India, which is growing at 19% percent a year.
Further, the company has adequate resources for a category such as oral care, with a penetration level of 55-56% in India. For the six months ended September 30, 2012, ITC’s cash and cash equivalents stood at Rs 1,758 crore, on a standalone basis.
Meanwhile, company’s foods division, only a decade old, has crossed the Rs 3,000-crore mark, in terms of turnover, while its Personal care business, which is worth about Rs 6,000 crore, is growing at about 25% a year, in terms of revenue.
