Tata Group, the UK’s largest industrial employer, has announced its revenues grew from $103.27bn in 2013-14 to $108.78bn in 2014 - 2015.
The chairman of Tata Sons – the central holding company for Tata Group – Cyrus P. Mistry made the announcement while addressing the group’s leadership and senior management at the Tata group’s Annual Group Leadership Conference in Mumbai.
He said that international revenues constituted 68% of the group’s revenues and that the group invested about $10bn worldwide during the year. The group closed the financial year with a market capitalisation of $134bn – up 17% over the previous year.
Speaking to the leadership group, Mistry outlined “critical enablers for sustainable profitable growth”, which would help the group achieve its Vision 2025 – with a quarter of the world’s population experiencing the Tata commitment to improving the quality of life of communities and customers.
Some of these enablers include:
- developing unique consumer insights
- diversification of profit pools
- creation of intellectual property rights
- deployment of robust risk management processes
- creation of financial flexibility to seize opportunities
- and minimising impact on the environment
“Sustainable profitable growth is the key building block for long term stakeholder value creation,” Mistry explained.
Mistry said that the Tata group would need to maintain its success in a changing world marked by global volatility and an inexorable shift towards a digital future.
He also highlighted the opportunities all across the globe and those presented by a rapidly growing Indian market, whose relative importance in the global economy would substantially increase by 2030. To steer through this rapid rate of change, he asked Tata companies to build strategic and organisational agility.
The Chairman struck a note of caution on the impact of global uncertainties on market movements through the year.
Mistry mentioned that more than 70,000 Tata group employees volunteered in the past year and he encouraged them to continue to make a “real and huge difference to the world”.