“We are setting up instant freeze dried coffee factory for 5,000 metric tonne capacity," Ajoy Misra, MD of the company said.
Tata Global Beverage on October 31 said that it was working towards bringing back the growth, after it reported a disappointing set of Q2 numbers.
Ajoy Misra, Managing Director of Tata Global Beverages, which is a subsidiary of Tata Group, said that the Q2 results were affected due to investments made for future growth and input prices.
When asked about increasing debt, Misra said, “We are a cash positive company and debt is not a requirement for the business, in fact our debt equity ratio is very healthy so I do not think that is a concern.”
“We are setting up instant freeze dried coffee factory for 5,000 metric tonne capacity and for that we have borrowed and that’s the only reasons otherwise TGB is a comfortable cash rich company,” he further added.