This document provides an overview of ITC Limited, an Indian conglomerate company. It discusses ITC's business divisions including cigarettes, FMCG, hotels, paper and packaging. Cigarettes contribute the largest share of ITC's profits. Key brands under FMCG and cigarettes are mentioned. Factors affecting ITC's declining share prices are analyzed like government regulations on cigarettes, ESG themes, and potential demerger plans. The conclusion states ITC has a steady revenue base from cigarettes and growing FMCG business, showing potential for future growth.