Revenue breakup: Cigarettes: ~42% of revenue FMCG (non-cigarettes): ~27% Hotels, Paperboards, Agri & others: ~31% Profit breakup (the real story): Cigarettes: ~65-70% of EBIT FMCG (non-cigarettes): Low-teens margins, improving Hotels & Paper: Cyclical, volatile In simple terms: Cigarettes are not ITCs largest revenue engine they are its profit engine (a cash cow)
In his Manichaean melodrama, nodes of private and state power share an ugly face and a demonic brain intent on a single, shared goal: creating the New World Order
Television does not and must not create values, its merely a picture of all thats out there the good, the bad, the ugly, he told Too Hot for TV
For beginners, cigalike devices offer the most familiar experience, closely mimicking the size, weight, and draw of traditional cigarettes
In Italy and parts of Eastern Europe, dark-fired tobacco is often produced with a focus on extreme structural density