Governance, Commitments and Engagements

Stakeholder Engagement

We have robust systems and procedures to identify, prioritise and address the needs and concerns of all our key stakeholders, across all businesses and units. The stakeholder engagement process has evolved over the 100 years of the organisation’s existence, based on mutual trust and respect developed over the years. The information gathered through the stakeholder engagement process as well as the understanding of  sustainability issues within the context of ITC’s Businesses guides specific materiality issues. This is further crystallised in our Chairman’s Statement and Vision from which our sustainability approach emerges. Our prioritisation and reporting stems from this abiding vision which determines our unique business models and strategies. The engagement with different segments of stakeholders as detailed below helps us keep abreast of development issues, anticipate influences and frame responses in a way that can be appropriately managed.

Shareholders

As trustees of shareholders, we believe it is our responsibility to protect and enhance their wealth. Their primary expectations remain centered around continued profitability and growth, communication and investor servicing.

As one of India’s foremost private sector companies, we have performed consistently for a century now and since the inception of the Company, have rewarded our shareholders with uninterrupted dividends and issue of bonus shares from time to time.

Our Chairman addresses and provides clarifications to the shareholders at least once a year at the Annual General Meeting, the principal forum for face-to-face interaction, in the presence of the Board.

The Board encourages open dialogue with all the shareholders - individuals, corporates or foreign investors.

Our corporate website www.itcportal.com provides comprehensive information and an exclusive section on ‘Shareholder Value’ which serves to inform and service shareholders. An exclusive e-mail ID isc@itc.in has also been provided to the shareholders for direct interaction.

Customers

Understanding customers’ needs and aspirations and continuing to seek consumer delight by making available products and services of high quality along with cost competitiveness and on-time delivery, thereby developing a strong long-term customer relationship is the prime focus in all our businesses.

Each Business has various mechanisms to capture the needs and expectations of the customer, such as market surveys, personal contacts/visits, events, customer satisfaction surveys, joint development and improvement projects, key account management, multi-level interfaces at dealer-customer-end user, personalised lifestyle privilege programme, etc. ITC continues to engage with customers on an on-going basis to capture their needs and aspirations.

Product/service quality, availability, visibility & on time delivery, cost competitiveness, continuous product/process innovation, demand for ‘green’ products and value added services are the major topics/ issues which are discussed during the customer engagement process. Robust Quality Assurance systems supported by process innovations, adoption of green technology, lean management, six sigma, and TPM help to achieve benchmarks in products and services quality in line with customer expectations. We continue to invest significantly in R&D to develop newer products/variants.