Tata Technologies: Former CEO Patrick McGoldrick sells shares worth nearly Rs 165 crore

Patrick Raymon McGoldrick, former CEO and managing director of Tata Technologies, has sold shares worth nearly Rs 165 crore in the company through block deals on the BSE, according to PTI News.

McGoldrick offloaded 21 lakh shares, representing a 0.51 per cent stake in the Pune-based global product engineering and digital services company. The shares were sold in four tranches on Friday at an average price of Rs 785 apiece, taking the total value of the transactions to Rs 164.85 crore.

Following the sale, McGoldrick’s holding in Tata Technologies fell to 0.62 per cent from 1.13 per cent, PTI News reported.

The shares were purchased by ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, 360 One Asset Management, and Carnelian Asset Management & Advisors. The four buyers collectively acquired an equal number of shares at the same price.

Tata Technologies shares closed 0.59 per cent lower at Rs 799.85 apiece on the BSE on Friday.

McGoldrick’s Tata Technologies association

McGoldrick retired as CEO and managing director of Tata Technologies in September 2014, after spending 20 years with the company. According to his LinkedIn profile, he is currently an executive director at RNT Associates International Pte Ltd, a Ratan Tata company involved in advisory services and investments in businesses focused on breakthrough technologies and business models.

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McGoldrick played a key role in the Tata Group’s development of the engineering services business. He was eventually succeeded by Warren Harris, who took over as CEO and MD in November 2017.

Tata Technologies financial performance

The block deal comes months after Tata Technologies reported an 8 per cent year-on-year increase in consolidated net profit to Rs 204.17 crore for the March quarter, compared with Rs 188.87 crore in the corresponding period a year earlier.

Consolidated revenue from operations rose to Rs 1,572.22 crore in the fourth quarter, from Rs 1,285.65 crore a year earlier, according to a regulatory filing.

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For FY26, however, the company’s consolidated net profit declined to Rs 546.59 crore, compared with Rs 676.95 crore in FY25. Revenue from operations increased to Rs 5,505.57 crore from Rs 5,168.45 crore during the same period.

Tata Technologies made a high-profile stock market debut in November 2023, becoming the Tata Group’s first public offering in nearly two decades. The stock listed at a substantial premium to its issue price and ended its first trading session with gains of nearly 163 per cent.

Incorporated in 1994, Tata Technologies is a Tata Motors subsidiary that provides turnkey engineering and digital solutions to global original equipment manufacturers and their