Dear Shareholders

I am pleased to write to you on the performance of Tata Consumer for the financial year 2020-21.

The last year has presented unprecedented challenges due to the COVID-19 pandemic; it has been a time of significant upheaval and a test of resilience. Yet, it led us to adapt, re-orient and accelerate learning while keeping the safety of our employees and business ecosystem partners, at the forefront.

In line with our ambition to become a formidable player in the FMCG industry, Tata Consumer embarked on a transformation journey and we made significant progress despite the pandemic. As a first step, the integration of the India Foods and Beverages business has been substantially completed and we have started to see synergy benefits from this integration.

Additionally, during the last fiscal, we have delivered robust broad-based growth across all our businesses and strong financial performance across all metrices, despite a challenging operating environment. Importantly, we have focused on putting in place the right building blocks for the future. These include identifying our strategic priorities, implementing an integrated organisation structure, investing in capabilities and talent, and driving digital to name a few. With these building blocks in place, Tata Consumer is well positioned for accelerated growth. As Mahatma Gandhi said, “The future depends on what you do today.” Building on the foundation we have and executing against our strategy will be critical for consistent value creation for our shareholders going forward.

I am pleased to write to you on the performance of Tata Consumer for the financial year 2020-21.

Another key area we have focused on is the product portfolio of our Company, which has been enhanced through targeted acquisitions. We now have a portfolio which covers tea, coffee, water, salt, pulses, spices, ready-to-cook offerings, breakfast cereals, snacks, and mini meals. We have also stepped up the pace of innovation across markets in line with consumer trends such as health and wellness and convenience.

In our international markets, we have divested stake in non-core businesses to enable greater focus on our core branded businesses.

Given the scale and nature of the challenges posed by the pandemic, we have put in place several initiatives for the safety and wellbeing of our people through the course of the year. Apart from strict safety protocols and social distancing measures, work from home flexibility was provided, and various health and wellness initiatives were launched to address physical, mental, and emotional well-being. In addition to the employees, support has also been extended to business partners in sales and manufacturing in India by way of specific medical assistance, hospitalisation and insurance programmes, along with covering vaccination costs.

As we continue to navigate the uncertainties posed by COVID-19, I would like to express my gratitude to all our employees, especially those in frontline roles who have worked tirelessly to grow the business and ensure our products reach consumers across markets. I would also like to thank all our shareholders for their continued support and faith in Tata Consumer.

Warm regards,
N. Chandrasekaran
Chairman