Tata Group company Tata Consumers Products Limited (TCPL) will merge its three wholly owned subsidiaries – Nourishiko Beverages, Tata SmartFoods and Tata Consumer Soulful. The board of directors of the FMCG unit of the Tata Group firm has approved the merger of the three wholly owned subsidiaries.
Why this merger
Tata Consumers said the merger is being done to optimize resources and reduce compliance requirements. The combined business will result in more effective utilization of resources of the said companies, reduction in costs and expenses, and elimination of duplication of work.
This scheme is proposed for the benefit of the subsidiary companies and the parent company. This will benefit shareholders, creditors, employees and all concerned. The scheme involves the merger of wholly owned subsidiaries with the holding company.
Tata Consumers results
Tata Consumer has released its September quarter results. Net profit declined by 6.55 percent during this period and stood at Rs 363.92 crore. The company had achieved a profit of Rs 389.43 crore in the July-September quarter a year ago. Its revenue from operations grew 11.02 percent to Rs 3,733.78 crore during the quarter, compared to Rs 3,363.05 crore in the year-ago period.
What is the current status of Tata Consumers’ share
There was a slight rise in the shares of Tata Consumers after this news. The shares of this company closed at Rs 903. There has been an increase of 0.27% compared to the previous day.
Tata Consumer Products Limited was previously known as Tata Global Beverages Limited.
Sunil D’Souza is the Managing Director & CEO of Tata Consumer Products.
The Company has a consolidated annual turnover of Rs 13,783 Cr in 2023.