Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion
The Tata group’s revenue fell to $103 billion from about $108 billion in the financial year ending March due to global political uncertainty, reduction in commodity prices and volatility in currencies, said Tata Sons chairman Cyrus Mistry in the group’s annual leadership conference.
The group closed the financial year with a market capitalisation of its 29 listed companies at Rs 771,191 crore ($116 billion). This reflected a decline in market capitalisation from the previous year of 7.4 per cent, as compared to a decline in the BSE Sensex of 9.4 per cent.
“Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion,” said Tata Sons in a statement. “International revenues at around $70 billion constituted 69 per cent of the group’s revenues,” the statement said.
The last financial year also saw $9 billion of capital investment by the group. The group’s capital investment exceeded $28 billion in the past three years. Mistry became the group chairman in December 2012.
This substantial capital investment programme has delivered a number of growth-oriented projects, including the Tata group’s largest greenfield infrastructure project, the new steel plant at Kalinganagar in Odisha, which commenced commercial production on May 25, 2016.
The group doubled its published patents to 7,000 by the end of 2015 from two years ago. “The patents have been filed across diverse areas, including computation and data processing; communications; materials, coatings and castings; and engines, hybrid fuels and controls,” said the statement.
Mistry also outlined a new leadership competency model for the group and a proprietary Tata Quality of Life framework, built on the foundation of happiness at work. He also refreshed Tata values, which now incorporate the value of pioneering.
Mistry emphasised that the Tata values of pioneering, integrity, excellence, unity and responsibility should be the driving force for Tata leaders as they worked towards delivering sustainable profitable growth in every Tata business.
Photograph: Danish Siddiqui/Reuters
