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.
According to a PTI report: 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 percent of the outlets are open at the moment,” Chandrasekaran said.