Tata Chemicals, part of the over USD 100 billion Tata Group, plans to focus on farm and consumer product businesses.
"Having achieved the leadership position in inorganic chemicals, that is soda ash, the company will now focus on building upon farm and consumer facing businesses," Tata Chemicals Managing Director R Mukundan said today at a function at the BSE here to celebrate 75 years.Also read: Payment delays a major concern: Tata Chem
"The focus with regards to the latter will be on growing the consumer products business as the Indian consumer moves from loose to branded, packaged products across all categories in the nutrition and wellness space," Mukundan added.
Tata Chemicals Executive Director and Chief Financial Officer P K Ghose said the growth drivers of the company will be in the Indian retail and farm sectors.
"We are building significant capabilities by leveraging our consumer and farmer reach, besides focusing on innovation-led products. We have planned capital expenditure outlay for the next five years that include investments in our chemical business, in capital-light businesses like salt expansion projects and other branded consumer products," he added.
He said the company may explore a brown field expansion project in the US, subject to meeting the desired investment criteria. On the other hand, the company will focus on paring debt by half from current levels.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
