Tata Sons Chairman N Chandrasekaran said the company is set to record the highest growth in its history and its overall annual growth is expected to be roughly 20 per cent in 2022-23. He said this in an interview with Economic Times. He also said that the company’s combined profit and cash flows are very strong.
“Tata Group companies are recording robust growth across the board and its overall annual growth is expected to be roughly 20 per cent in 2022-23, which is significant for a group of our size. While our portfolio of businesses has their own cycles, the group’s combined profit and cash flows are very strong… We are also happy that the group has achieved its stated goals - each of the traditional businesses will fund its own growth through internal accruals," Chandrasekaran said this in the interview.
N Chandrasekaran, who took charge as the first non-Tata chairman in 2017, was reappointed as Tata Sons Chairman after the company’s board meeting on February 11.
“It has been a privilege to lead the Tata Group for the last five years and I am delighted at the opportunity to lead the Tata Group for another five years, in its next phase," said Chandrasekaran on his reappointment.
Tata Steel and Tata Power are investing over $10 billion around Rs 82,500 crore each, while together Tata Motors and Jaguar Land Rover will invest $25 billion around Rs 2.06 lakh crore over the next five years, reported according to the ET report.
Read all the Latest Business News here