homeagriculture NewsITC chief’s message to disappointed shareholders: You are on top of my mind

ITC chief’s message to disappointed shareholders: You are on top of my mind

Shares of tobacco and FMCG major ITC have underperformed for the past several years even as the company’s CMD Sanjiv Puri said the company has been performing well and pledged to take several steps to create more shareholder value.

By Shereen Bhan  Oct 13, 2020 3:36:24 PM IST (Published)

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Shares of tobacco and FMCG major ITC have underperformed for the past several years even as the company’s CMD Sanjiv Puri said the company has been performing well and pledged to take several steps to create more shareholder value.
“Shareholder value is on top of our minds,” Puri said, adding that he was surprised by the way the stock has behaved in the market. ITC has fallen from a peak of Rs 340 levels reached in July 2017 to about Rs 170 now.
“In the last 3 years, our earnings per share (EPS) have gone up by 47 percent. Our return on segment capital has gone up from 61 percent to 72 percent,” he said.