The current operating environment is still very volatile and continued inflation could affect demand at all levels, said Tata Consumer Products Ltd (TCPL) Chairman N Chandrasekaran on Monday.
Wandering through these "temporary bumps" in this uncertain area, the company will focus on hard work, technological retention and humility, "he said while addressing shareholders at the annual general meeting (AGM).
"Political instability, supply chain challenges, and inequality in supply of raw materials and a few others drive ongoing inflation, which may contribute to demand at all levels." short; and more importantly to take advantage of the opportunities that may arise during this time, ”said Mr. Chandrasekaran, who is also the Chairman of Tata Sons, the company that owns the Tata Group.
Calling 2020-21 "extremely eventful", Mr Chandrasekaran said the challenges posed by the epidemic and, more recently, political progress has led to a dynamic environment that has a broader impact on people, the economy and business. .
"These unprecedented challenges also create opportunities for us to adapt to new ways of thinking, to be patient and to build for the future. This idea has helped your company deliver a solid overall performance," he said.
TCPL has made significant progress - increasing distribution, accelerating innovation, redesigning the supply chain and advancing digital transformation across the value chain. "These are investments we have been making for a long time and I am sure they will set us up for growth in the future," he said.
Currently, TCPL, which was established after merging the consumer products business of Tata Chemicals with Tata Global Beverages, is located in more than 201 million households in India and distributes to more than 2.6 million stores.
"We have grown our portfolio in the Ready-to-Eat segment by purchasing Tata SmartFoodz and the business has grown exponentially. Our growing businesses NourishCo, Tata Sampann, Tata Soulfull and Tata Q, are growing at 52 percent per year and investing to these businesses to move forward, ”he added.
At its JV Tata Starbucks, Mr Chandrasekaran said that despite the challenges posed by the epidemic, it opened 50 new stores last year, bringing the total to 268 in 26 cities. "Digital transformation in the organization as a whole and the price chain are important to us and work on it is ongoing," he said.
Founded in 2012, Tata Starbucks is a 50:50 joint venture between Starbucks Corporation and TCPL.
TCPL has introduced a number of products in all food and beverage portfolios, addressing consumer health and wellness needs, taste, and comfort, which has also helped us expand our comprehensive marketable, he informed.
"Contribution to innovation has increased by 2X during the year," added TCPL Chairman.
For the financial year ended 31 March 2022, the total TCPL revenue was ₹ 12,425 crore.
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