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 group’s food and beverages businesses into a single company, he said there was “no concrete proposal” but its board will 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 term, 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 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.”
Chandrasekaran also said that the Tata group is committed to West Bengal and looking for a “right opportunity” in terms of investing in the state.
“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.”