Tata Consumer gains market share in tea, salt; eyes expansion

“We also believe in inorganic expansion and yes inorganic expansion is one of the key strategies for the company.

Published: 28th June 2022 07:50 AM  |   Last Updated: 28th June 2022 07:50 AM   |  A+A-

Image used for representational purposes only

Image used for representational purposes only

By Express News Service

NEW DELHI: Tata Consumer’s India business grew 13% and the FMCG giant recorded market share gains in the core categories of Tea and Salt, its chairman N Chandrasekaran said on Monday at the company’s Annual General Meeting (AGM).

Responding to queries by shareholders, he said Tata Consumer Products would focus on leveraging its product portfolio, expanding distribution and product innovation and entering new categories, while supporting both organic and inorganic growth opportunities in future.

“We also believe in inorganic expansion and yes inorganic expansion is one of the key strategies for the company. The cash in the company will be used definitely for the right inorganic growth opportunities,” he said.

He also talked about the company strategy saying TCP is focused on expanding the distribution, product portfolio and bringing in new categories and a lot of focus in the domestic market. Chandrasekaran went on to say in his speech, “During the year, we made substantial progress on all the six strategic priorities that we had identified for the Company. Significant progress has been made on expanding our distribution, accelerating the pace of innovation, redesigning our supply network, and driving digital transformation across the value chain.”

He added that the company’s growth businesses - NourishCo, Tata Sampann, Tata Soulfull, and Tata Q - collectively grew 52% during the year. “We are investing in these businesses to fuel them further.”
Talking about the international business, he informed that it saw modest growth on the back of double-digit growth last year. He said the company is following a three-brand strategy in tea for international markets with Tetley, Good Earth, and Teapigs.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp