You are here: Home » PTI Stories » National » News
Business Standard

TGBL to focus more on domestic, select overseas markets

Business Finance

Press Trust of India  |  Kolkata 

Tata Global Beverages Ltd (TGBL) Tuesday said it will focus more on the domestic market and select overseas ones, as the company begins consolidating into a diversified consumer products major.

"We need to focus in India and select overseas markets. We are looking at each part of the country more carefully and a lot of work has happened in this regard," TGBL Chairman N Chandrasekaran said at the AGM.

Chandrasekaran said he expects the completion of the proposed transfer of Tata Chemical's consumer business to TGBL to take place in the next 12-18 months.

"I would be happy if it happens in the next 12 months," he said. Following the transfer, TGBL will have branded edible salt, pulses and spices in its product portfolio.

TGBL is likely to be renamed as Tata Consumer Products after the restructuring, which will see its turnover "rise 25 per cent".

"In the FMCG segment, we need a large portfolio. We cannot just be a single tea player and depend on it to attain scale. The company has to gain scale through a wide range of products," Chandrasekaran said in his address to shareholders.

"We need to move up the value chain and enter high- value segments... build a high-class, premium consumer products company by leveraging the large consumer base in India. That is the goal that we are working towards," he said.

Chandrasekaran said the company is planning to cut down on the number of subsidiaries, and could also exit more overseas markets like Russia.

Tata Coffee will not be merged with TGBL for now, he added.

Asked whether TGBL will expand the Tata Cha chain -- currently in Bengaluru with only four stores -- Chandrasekaran said it will "evaluate" the prospect.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, June 11 2019. 18:40 IST