Deveshwar's remuneration in 2018-19 was Rs 16.62 crore. In 2017-18, it stood at Rs 29.85 crore.
had split the role of executive chairman between chairman and chief executive officer in 2017, when Deveshwar moved into a non-executive role from executive chairman, Sanjiv Puri
went on to become the chief executive officer. He was re-designated as the managing director in May 2018.
Puri, in a message to the shareholders, said that the focus would be to build international competitiveness in each business and it would be supported by appropriate investments not only to reinforce the pole position achieved in several segments but also to speedily attain leadership in the newer businesses.
"While this will undoubtedly entail upfront investments and gestation costs in the short-term, particularly in the non-cigarette FMCG businesses, such investments will be a source of competitive advantage and create sustained value for stakeholders over the medium to long term as our brands garner larger scale and deepen their connect with consumers," Puri said in the report.
During 2018-19, ITC
launched over 50 new FMCG products across categories such as foods, personal care, education and stationery products, agarbatti and matches.
The non-cigarettes FMCG business for which the company has ambitious targets, today, represent an annual consumer spend of Rs 18,000 crore. The star performers in the portfolio were Aashirvaad and Sunfeast that are Rs 4,500 crore and Rs 3,800 crore brands, respectively. Bingo! is at Rs 2,500 crore and Classmate, YiPPee! at over Rs 1,000 crore each.
The segment EBIDTA for the year registered a growth of 51 per cent to Rs 688.25 crore from Rs 455.58 crore in 2017-18.