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Tata Consumer Products to become a full-fledged FMCG company: Chairman N Chandrasekaran

The merger, which took effect from February, will provide a broader exposure to growth and opportunities in the FMCG space, he said

twitter-logoPTI | July 6, 2020 | Updated 17:24 IST
Tata Consumer Products to become a full-fledged FMCG company: Chairman N Chandrasekaran
Tata Group Chairman N Chandrasekaran

Tata Consumer Products Ltd (TCPL), formed recently by the merger of Tata Global Beverages and the foods business of Tata Chemicals, is aiming to be a full-fledged FMCG company, its chairman N Chandrasekaran said on Monday.

The merger, which took effect from February, will provide a broader exposure to growth and opportunities in the FMCG space, he said.

"TCPL will aim at emerging into a full-fledged FMCG firm and also scout for new opportunities in the international markets," Chandrasekaran told shareholders at the company's virtual annual general meeting.

He said the COVID-19 pandemic impacted business in the last quarter of 2019-20 and the first quarter of the current fiscal.

The company is expecting a slow recovery of the supply chain.

"We expect the pandemic to continue in the near term and the company is positive about the current fiscal and beyond," Chandrasekaran said.

TCPL is looking at a vast portfolio of consumer products, he said, adding, demand for packaged foods is higher than usual as people have been stocking.

The company will strengthen distribution and marketing channels so that its products are available nationwide, he said. It will also bolster presence in the US, UK and Canada.

"We took a conscious call to broaden the focus to make it an integrated food and beverages company," Chandrasekaran said.

He said during the last financial year, Tata Starbucks opened 39 outlets, taking the total to 185 across the country.

"Owing to the pandemic, only 50 per cent of the outlets are open at the moment," Chandrasekaran said.

Also Read: Coronavirus update: 24,248 new cases, 425 deaths in 24 hours; India overtakes Russia as 3rd worst-hit country

Also Read: India-China issue: Chinese Army moves back over 1 km from Galwan valley

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