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Tata Sons Pvt Ltd, the $150-billion holding company of the Tata group, will seek shareholder nod to appoint Noel Tata to its Board and vote on three other directorships at its 107th annual general meeting (AGM) on Thursday.
Noel, who became chairman of Tata Trusts in October 2024, was nominated to the Tata Sons Board by the trusts and appointed additional director last year.
Shareholders will also decide on the reappointment of Venu Srinivasan and Saurabh Agrawal as directors, and Anita George — co-founder and chief executive officer (CEO) of emerging-markets growth fund Prosperete — as independent director.
Tata Sons Executive Chairman N. Chandrasekaran is expected to brief the shareholders on the planned initial public offer of Tata Capital, slated before September.
The Board has recommended a dividend of ₹64,900 per ordinary share, up from ₹35,000 last year, implying a cash payout of ₹2,622.91 crore.
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Tata Trusts, which hold 66 per cent of Tata Sons, would receive about ₹1,731 crore to fund philanthropic initiatives.
The online AGM comes amid strategic shifts under Noel’s leadership at Tata Trusts, including talks with the Shapoorji Pallonji Group — which owns 18.4 per cent of Tata Sons — for a potential exit.
Discussions have yet to yield an agreement. The trusts have also directed the company to remain private.
With the upcoming retirement of directors Ajay Piramal and Ralf Speth, the group will also induct two new Board members in due course.
Tata Sons did not respond to an email seeking comments on the AGM agenda.
For the financial year ending March 2025, Tata Sons reported revenue of ₹38,834.58 crore, down from ₹43,893 crore a year earlier, when results were boosted by a ₹9,375.66 crore gain from the sale of investments. Expenses fell to ₹1,945.64 crore from ₹2,776.49 crore.
The company’s profit before tax (PBT) slipped to ₹35,440.76 crore from ₹39,813.16 crore, while profit after tax (PAT) dropped to ₹26,231.74 crore from ₹34,653.98 crore.
It repaid all borrowings during the year ending March, with net cash of ₹7,117.43 crore versus ₹2,679.19 crore a year earlier.
With its debt-free status, the company has applied to the Reserve Bank of India (RBI) to declassify it as a non-banking financial company (NBFC) — upper layer — and remain private.
The RBI had earlier set a deadline of September this year for NBFCs — upper layer, to list their shares. The company's application is currently pending with the apex bank.
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