fbpx
29.1 C
New Delhi

FY24 marked by milestones and growth for Tata Consumer Products, says Chairman N Chandrasekaran

Published:

Tata Consumer has finalized the merger of Tata Coffee and has made substantial strides in streamlining its international legal entities. Additionally, the integration of Tata Soulfull, NourishCo, and Tata SmartFoodz is underway, as highlighted by N. Chandrasekaran, Chairman of Tata Consumer Products, in the company’s 2023-24 annual report. These initiatives are poised to unleash value and enhance operational efficiencies.

Highlighting that the period of 2023-24 marked a significant milestone for Tata Consumer Products, he emphasized that innovation has been a key driver behind the company’s remarkable 5X growth in its India operations over the preceding three years.

Continue Exploring: Tata Coffee to merge with Tata Consumer Products and TCPL Beverages on January 1

Chandrasekaran stated, “In our endeavor to broaden our consumer base, we achieved notable advancements in expanding our sales and distribution network, now encompassing a total of four million outlets. This signifies a remarkable twofold surge compared to figures from 2020.”

Regarding the acquisitions of Capital Foods and Organic India by Tata Consumer in January of this year, Chandrasekaran remarked that both acquisitions significantly broaden the company’s potential market reach into adjacent sectors with high growth and high margins. “We are set to utilise their full potential by employing our robust distribution and sales network, multinational presence, robust backend operations, as well as cutting-edge R&D facilities.”

Continue Exploring: Tata Consumer Products eyes further acquisitions after Capital Foods and Organic India deals

In January, the company announced its intention to acquire 100% equity shares of Capital Foods, the owner of well-known brands like Ching’s Secret and Smith & Jones, in a phased manner. Initially, 75% of the equity shareholding would be acquired upfront, with the remaining 25% to be acquired over the next three years.

It also announced the acquisition of Organic India for INR 1,900 crore in an all-cash deal.

Continue Exploring: Tata Consumer Products approves INR 6,500 Crore fundraising for Capital Foods and Organic India acquisitions

Chandrasekaran highlighted that a notable achievement during the year was attaining a market capitalization of INR 1 lakh crore.

Tata Consumer reported a revenue of INR 15,206 crore, reflecting a growth of 10%, accompanied by an EBITDA margin of 15.3% for the year. The bottom-line growth was fueled by improved profitability and margins.

Continue Exploring: Tata Consumer Products Q4 net profit dips 19% to INR 217 Crore despite revenue growth

SnackTeam
SnackTeamhttp://test.snackfax.com
SnackTeam is a specialised group of editorial staff motivated to improve the lives of individuals and society. The team intends to bring the most authentic, well-researched and dependable content for you and your loved ones every day.

Related articles

Recent articles

spot_img
× Drop a, Hi?