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TGBL focuses on scaling up its product lines (Lead)
Kolkata, July 5 (IANS) Tata Global Beverages Ltd (TGBL) would focus on scaling up its product lines, company chairman N. Chandrasekaran said on Thursday.
Amid speculation on a restructuring proposal to merge the Tata Group’s food and beverages businesses into a single company, he said there was “no concrete proposal” but its board would deliberate if such a plan is placed before it.
“The focus of the company going forward will be to try and scale specific platforms and operations and also capture the growth in the Indian market. Even though in volume terms, we continue to be number one in the Indian market, we can’t say the same in value terms,” Chandrasekaran told shareholders at the 55th Annual General Meeting of the company.
“So there will be focus to bring growth in the India market by a combination of focusing on market share, number of new products that reflect the macro trend.”
Responding to queries of shareholders on the speculation of merger of food businesses, he said: “Tata Group has presence in multiple different consumers segment. Always the proposals and the ideas get discussed… these proposals sometimes come from investment bankers, sometimes internally. There is no concrete proposal. Whenever there is concrete proposal in front of the board, it will deliberate on it.”
According to him, the beverages major “has been trying out and launching products” in various spaces in line with macro trends of premiumisation, off-take in wellness space and others but company’s growth suffered due to “marginal presence” in many international markets.
TGBL’s consolidated revenue from operations in the last financial year was at Rs 6815 crore, clocking a marginal growth over previous year.
“When you analyse the numbers the growth continues to suffer because of marginal presence in many international markets… one of the actions that have been taken is to exit from small operations. During the year the company exited from China and Sri Lanka and operations in Russia has been restricted,” he said.
“International market has not grown. In fact some of the markets have de-grown,” Chandrasekaran said.
Reiterating further on scale up focus, he said: “Essentially, TGBL has to scale. (For) each one of the product lines (green tea, water) we need to figure out way to scale and partially also look for acquisition where there is presence of opportunity. India growth rate is better but international growth rate is pulling down. The focus will be to increase the growth rate,” he said, adding that unless and until, the company scales, “it is not going to help”.
According to him, growth and scale in domestic market would be acritical’ for the company.
TGBL holds a 20 per cent market share in the domestic branded tea market and around 3-4 per cent share of the coffee market.
On investment opportunities in West Bengal, Chandrasekaran said that the Tata group is committed to the state and looking for a “right opportunity”.
“Tata Group is committed to West Bengal and we just wait for right opportunity. We have good presence of TCS and companies like TGBL and Starbucks. When the opportunity comes, we will definitely invest in the state.”
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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