With the aim to increase the FMCG share to its consolidated earnings, Tata Chemicals Ltd (TCL) will soon focus on the agro and consumer segments.
According to P. K. Ghose, Executive Director and CFO at Tata Chemicals, "Now we are increasing our consumer portfolio to wellness and nutrition in the food segment and we are looking at agri which actually concentrates on four areas – plant and crop nutrition, seeds and contract manufacturing."
TCL’s FMCG business includes salt, pulses, lentils and spices and water purifiers. "In a turnover of about Rs 16,000 crore last year, consumer products would be hardly Rs 1,000 crore. We want to increase it to Rs 3,500 crore over the next 3 years. We will look for acquisitions in the seeds segment in the agri vertical and consumer products as well as look for organic growth," Ghose added.
The company will commission its 1,000 tonne capacity plant in Perambur in Tamil Nadu. It has invested Rs.50 crore to further its aim with consumer and agro products.