'Building a seamless business doesn't happen overnight': Tata Sons chairman N Chandrasekaran
N Chandrasekaran spoke to Kala Vijayraghavan at the group's Bombay House headquarters in an exclusive interview. Edited excerpts:
What's your assessment of the performance of Tata Group companies?
They have performed well. All our existing companies have strong balance sheets and they continue to show improving performance. This is reflected in our group's market cap, which has crossed ₹35 lakh crore. Several of our companies, including Tata Power, Tata Consumer, Trent, Tata Motors and Indian Hotels, have crossed significant milestones in market capitalisation. Tata Motors alone is now valued at over ₹4 lakh crore.
Tata Steel faced challenges due to market conditions, but we've taken the necessary steps, including shutting down the blast furnace at Port Talbot (in the UK). We've been fair at the Port Talbot plant. While the law requires us to do a certain minimum for those affected, we've gone beyond that. Many employees have opted for voluntary retirement schemes (VRS), and we've allocated resources for training the remaining workforce. Tata Steel is investing £750 million in installing a new electric blast furnace with an additional investment of £500 million from the UK government. In the meantime, we are ensuring that our customers continue to be served by supplying products from the Netherlands and India.
The largest investment for Tata Sons in the next few years will be in new businesses like Tata Electronics, Air India, Agratas (battery manufacturing) and Tata Digital .
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