CHENNAI: Tata Sons Chairperson N Chandrasekaran said the group has exited small business verticals and made bets on the emerging businesses, including electronics and semiconductors.
“We wanted to simplify every business. We wanted to scale everything. We got out of small business, whether in terms of business (size) or market share, across business verticals. We continue to do that. It reflected the profit and market cap.”
He listed out various turnaround performances of group companies including Tata Motors and explained the group took bets on the future including battery projects and semiconductors. “We will announce the fab very soon. It will be a very very big investment.”
He said the group has committed $100 billion capital expenditure in five years. The veteran leader said he doesn’t understand the craze about valuation and has become a needless distraction. Speaking at an award ceremony in Chennai he said, “Valuation is clearly an outcome, you can’t work for it. You only have control over input.” Executing a compelling strategy with discipline, the right team and management focusing on governance and sustainable growth will deliver validations, he said.
He was speaking at a ceremony where he was conferred with ‘MMA-Amalgamations Business Leadership Award 2023’ in the city on Wednesday. It was presented by The Madras Management Association along with Chennai based Amalgamations Group.