Cyrus Mistry outlines vision for Tata group; says looking at opportunities with a global landscape

By: |
September 13, 2016 5:27 PM

Tata Group chairman Cyrus Mistry has said that the strategy at the group level is to get closer to consumers, and anticipate their needs.

Cyrus Mistry, Cyrus Mistry latest news, Cyrus Mistry Tata group, Cyrus Mistry Tata group chairmanCyrus Mistry said: The digital wave is transforming all industries. (Reuters file photo)

Tata Group chairman Cyrus Mistry has said that the strategy at the group level is to get closer to consumers, and anticipate their needs. “The digital wave is transforming all industries. We are developing three companies in the digital space – Tata CLiQ, Tata iQ, Tata Digital Health,” he said. “We are building customer centri-city as a cultural pillar at Tata group of companies. We are not afraid of taking tough decisions for the right reasons,” he added.

Outlining his vision for the group, Mistry said, “We are looking at opportunities with a global landscape in mind. Tata group companies’ international revenues are approximately 70% of composite turnover.” “Our capex has been on an average $9 billion in each of the last three years. As of March 2016, the net debt of the companies is about $24.5 billion. We are not very concerned about the aggregate debt at group level,” he said. “We emphasise on the importance of corporate foresight and customer insight in every business. Our individual companies need to earn the right to grow,” he added. According to Mistry, green shoots of a turnaround are visible at Tata Motors.

Mistry, who took over the reins in late 2012 from the legendary Ratan Tata, also spoke about coming to grips with responsibility of chairmanship, multiple challenges facing Tata companies, essentials of technology, innovation and customer centricity, and continuing Tatas’ commitment to societal causes. “We recognise that growth has to be a function of the operating cash flows we generate. At the group level, over the last three years, our operating cash flows have grown by over 30 per cent CAGR. But this, as we know, is not the appropriate way to use such data – our individual companies need to earn the right to grow,” Mistry said.

(With inputs from PTI)

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1SBI General Insurance Q2 net jumps 37%
2Bharti Airtel won’t be the first to hike tariffs, likely to maintain status quo for short-term
3Analyst Corner: Retain ‘sell’ on Tata Motors, revise fair value to Rs 120