Tata Sons will be holding its 103rd Annual General Meeting (AGM) on September 14. At the AGM, Tata Sons will seek shareholders’ nod for the re-appointments of Saurabh Agarwal, Ralph Speth, and Harish Manwani, CNBC-TV18 reported.
As per the report, at the AGM, apart from seeking reappointment of Saurabh Agarwal as the ED, Tata Sons will also look at increasing his remuneration by 35 percent from Rs 15.85 crore to Rs 21.45 crore.
The resolutions for the Tata Sons AGM also mention that they will seek shareholders’ nod to bring back Ralph Speth as the non-executive director and Manwani as an independent director.
Further, they will seek approval for the issue of NCDs/bonds of up to Rs 40,000 crore.
The group’s overall combined market capitalisation in FY21 increased by 91 percent YoY to Rs 17.80 lakh crore and the market value of its listed investments rose 84 percent to Rs 10.30 lakh crore.
Their total revenue stood at Rs 19,598 crore, while the operational revenue went down 62 percent to Rs 9460.2 crore YoY for the fiscal. The consolidated net profit rose 77.7 percent at 19,397 crore, helped by gains from TCS share buyback.
The standalone net profit jumped 142 percent to Rs 6,512 crore from Rs 2,680 crore. Other income was higher at Rs 10,138 crore as compared to Rs 126 crore in FY20.
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