The good EBITDA margin performance was on back of overall business efficiencies, good cost management and management of commodity costs, said Ajoy Misra, MD, Tata Global Beverages.
The company plans to test launch a total of four pilot stores in Bengaluru to evaluate the consumer proposition and business model, Tata Global Beverages Ltd (TGBL) said in a regulatory filing.
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Tata Sons will acquire up to 4.31 crore shares or 6.84 per cent stake in Tata Global Beverages Ltd (TGBL) from Tata Chemicals as a part of restructuring of its investment portfolio, TGBL said in a regulatory filing.
Open interest in Nifty September futures stood at Rs16,300 crore compared to Rs17,300 crore at the beginning of the August series.
The mineral water brand "will now enter the US market in a phased manner, through an agreement signed by its subsidiary with Talking Rain Beverage Company, the maker of Sparkling Ice flavoured sparkling waters to distribute and market the brand," Tata Global Beverages (TGB) said in a statement.
TGBL has entered into an agreement to transfer ownership and operational responsibility of its Russian business unit to Skodnya Grand, the company said in statement.
The public sector insurer, which had 9.85 per cent stake earlier, brought down its shareholding in the company to 7.70 per cent by selling shares between July 20, 2016, and July 4, 2017, Tata Global Beverages (TGBL) said in a filing to BSE.
ICICI Direct has recommended buy rating on Tata Global Beverages with a target price of Rs 195 in its research report dated July 12, 2017.
Tata Global Beverages owns close to Rs 755 crore worth of stake in other Tata group firms, especially in Tata Chemicals, said the media report.
Consolidated net profit during the quarter stood at Rs 84.36 crore against loss of Rs 249.6 crore in corresponding quarter of last fiscal.
If the deal looks favourable, Tata Coffee will be merged into Tata Global Beverages, sources told CNBC-TV18.
In a regulatory filing, Tata Motors said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.
Ousted Tata Sons Chairman wasn't allowed access to a video clipping of the Tata Global Beverages Board meeting, reports The Economic Times.
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Tata Global Beverages‘ move to replace Cyrus Mistry as Chairman was more to avoid hostility with parent company than performance-based says Independent Director S Santhanakrishnan, one among those who voted Mistry out.
A report in Economic Times says that the meeting was held at Bombay House and lasted for over four hours where discussions on the company's operations and progress were conducted.
After going slow on expansion of Starbucks outlets owing to a host of reasons, including issues with FSSAI, Tata Global Beverages plans to enhance the pace of increasing the network of the coffee chain going forward.
The group will not shy away from global buyout activity and will continue to make significant investments in both existing as well as new businesses, including in the digital space to meet its vision 2025 targets.
The company had clocked a consolidated net profit of Rs 30.31 crore in the year-ago period. However, the total consolidated income of the company during April-June period of current financial year rose to Rs 396.04 crore from Rs 374.52 crore in the same period of last fiscal.
The company had clocked a net profit of Rs 16.32 crore in the same quarter in 2013-14. Total income during the January-March quarter of 2014-15 increased to Rs 450 crore from Rs 397 crore in the same period in 2013-14 fiscal, the company said in a BSE filing.
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Hameed Huq, managing director, Tata Coffee says the company has been benefiting from its five revenue streams- instant coffee, green coffee, pepper, tea and timber.