Tata Sons shareholders on Thursday cleared Noel Tata’s induction as a director on the company’s board, cementing his role in the $150-billion Tata Group’s holding entity. The approval came at the 107th annual general meeting (AGM) held in Mumbai, group sources said.
Shareholders also reappointed Venu Srinivasan (chairman, TVS motors) and Saurabh Agrawal (Tata Sons CFO), and brought in Anita Marangoly George — co-founder and CEO of emerging-markets growth fund Prosperete — as an independent director. She has also had stints at World Bank and International Finance Corporation where she held senior roles.
Noel Tata, who became chairperson of Tata Trusts in October 2024, was nominated to the Tata Sons board by the trust and appointed as an additional director last year. He is also the only board member now to hold shares in Tata Sons.
Dividend approval and financial performance
The virtual AGM, chaired by Tata Sons chairman N Chandrasekaran, reportedly wrapped up within half an hour after clearing all resolutions. Among these was the approval of dividend of Rs 64,900 per ordinary share, up from the dividend payout of Rs 35, 000 per ordinary share last year.
The total payout of Rs 2,622.91 crore will see Tata Trusts, which holds 66% in Tata Sons, receive Rs 1,731 crore for its philanthropic initiatives.
For FY25, Tata Sons reported a revenue of Rs 38, 835 crore, down from Rs 43,893 crore in the previous year. Profit after tax (PAT) declined to Rs 26, 232 crore from Rs 34,654 crore.
The company repaid all borrowings during the year, ending FY25 with a net cash balance of Rs 7,117.43 crore, compared to Rs 2,679.19 crore a year earlier.
Listing obligations and strategic moves
The Reserve Bank of India has directed Tata Sons, classified as an NBFC–Upper Layer, to list its shares by September 2025. However, after becoming debt-free, the company has applied to be declassified from this category to retain its private status and is currently awaiting RBI’s decision on the matter.
The AGM took place amid ongoing discussions between Tata Sons and the Shapoorji Pallonji Group. The latter, which holds an 18.4% stake in Tata Sons, is reportedly mulling an exit, though no deal has been reached yet.
Tata Sons is also expected to list Tata Capital next month through an IPO expected to raise around Rs 17,000 crore.