TCPL Concludes Merger of Three Wholly-Owned Subsidiaries
TCPL Concludes Merger of Three Wholly-Owned Subsidiaries
Tata Consumer Products Limited (TCPL) has concluded the merger of its wholly owned subsidiaries, namely Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd, following the approval from the National Company Law Tribunal (NCLT) and other required regulatory clearances.
This move data-aligns with the strategy of the Fast-Moving Consumer Goods (FMCG) firm’s emphasis on simplification and streamlining operations, as shared in a company press release.
Additionally, the company has announced that there will be no alterations to the operational framework of these business units. They will continue to concentrate on their respective portfolios, which include Millet-based products, Ready to Drink (RTD) beverages, and Ready to Cook/Ready to Eat (RTC/RTE) offerings, along with breakfast cereals, snacks, and mini meals.
Sunil D’Souza, Managing director and Chief Executive Officer of Tata Consumer Products Limited, stated, “We have been reorganizing our business in line with our strategic priorities- to unlock synergies and create a future ready organization. This merger is one more step towards building a simplified and agile business. It will enable administrative and financial synergies. Retaining the existing business operating structure will provide continuity and ensure these businesses stay focused on the growth agenda.”
The portfolio of products offered by TCPL includes tea, coffee, water, RTD beverages, salt, pulses, spices, ready-to-cook and ready-to-eat meals, breakfast cereals, and snacks.
In Q1 FY25, Tata Consumer Products Limited reported a consolidated net profit of Rs 290 crore, a decrease of 8.5% compared to Rs 317 crore in Q1 FY24.
This move data-aligns with the strategy of the Fast-Moving Consumer Goods (FMCG) firm’s emphasis on simplification and streamlining operations, as shared in a company press release.
Additionally, the company has announced that there will be no alterations to the operational framework of these business units. They will continue to concentrate on their respective portfolios, which include Millet-based products, Ready to Drink (RTD) beverages, and Ready to Cook/Ready to Eat (RTC/RTE) offerings, along with breakfast cereals, snacks, and mini meals.
Sunil D’Souza, Managing director and Chief Executive Officer of Tata Consumer Products Limited, stated, “We have been reorganizing our business in line with our strategic priorities- to unlock synergies and create a future ready organization. This merger is one more step towards building a simplified and agile business. It will enable administrative and financial synergies. Retaining the existing business operating structure will provide continuity and ensure these businesses stay focused on the growth agenda.”
The portfolio of products offered by TCPL includes tea, coffee, water, RTD beverages, salt, pulses, spices, ready-to-cook and ready-to-eat meals, breakfast cereals, and snacks.
In Q1 FY25, Tata Consumer Products Limited reported a consolidated net profit of Rs 290 crore, a decrease of 8.5% compared to Rs 317 crore in Q1 FY24.