Tata Global Beverages (TGB) chairman N. Chandrasekaran has emphasised the need to scale up operations in certain areas at a time when the black tea segment is under stress.
“The focus of the company will be to try and scale [up] specific platforms and operations and also capture the growth in the Indian market,” he told shareholders at the AGM.
Focus on Indian market
He said that there would be a thrust on growing the Indian market through a combination of focussing on market share and new products. Noting that some of the international markets had de-grown, he said that actions had been taken to exit from certain operations like those in China.
TGB brands are present in 40 countries with the company evolving to become a beverage entity with interests in tea, coffee and water, from a plantation company. It closed 2017-18 with a revenue growth of 2% (after excluding the impact of sale and recast of businesses) and an 18% rise in profit.
Amid speculation of a restructuring proposal to merge the group’s food and beverages businesses into a single company, he said there was “no concrete proposal” but the TGB board would deliberate if such a plan was placed before it.
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