The interests of Tata Sons and minority shareholders of Tata-promoted companies are fairly aligned, says Harish Bhat, Brand Custodian of Tata Sons in an interview to CNBC-TV18.
Cyrus Mistry's "hostility" to primary promoters had led to his removal as chairman of Tata Global Beverages as it posed significant risk to the company's future performance, said the new head Harish Bhat.
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After having relaunched various brands and spending a sizeable capital on advertising, Harish Bhat, chief executive officer and managing director, Tata Global Beverages, is confident that the ad spends will reap benefits in the days to come. Furthermore, he believes the company‘s coffee business is likely to pick up soon.
Harish Bhat, CEO & MD, Tata Global Beverage says, UK and Russian markets will remain sluggish. The pressure on margins was due to four recent launches.
Post Tata Global Beverages's Q1 numbers, Harish Bhat, MD of the company told CNBC-TV18 that the key growth driver for it was and will continue to be a new product innovation in tea, coffee and water.
The company has posted a growth of 11 percent in its topline and 26 percent in its operating profits. Bhat credits the growth of various brands in different geographies for the positive numbers.
Harish Bhat, CEO & MD of Tata Global Beverages told CNBC-TV18 the third quarter has been very successful and despite the rising prices of tea they have shown a considerable improvement in their net profit.