Rakesh Sony, global head-strategy and mergers and acquisitions (M&A) at Tata Global Beverages, shared his views and outlook on the company's expansion plans as well as on the overall business.
“In India business, we grew by almost 8 percent in Q1 vis-a-vis in the last quarter of the last financial year. This is the expected growth that we have. Fortunately, we are in categories which are quite defensive. We don’t see a significant slowdown as far as our consumption is concerned. We are expecting a good growth for ourselves in this financial year,” Sony told CNBC-TV18 on the sidelines of Motilal Oswal 15th Investor Conference in Mumbai.
“In Q1 our volume growth has been 8 percent and value growth has been 7 percent. That is the trend that we expect to continue going forward for this financial year. We would be in the ballpark of 8-10 percent as far as volume is concerned,” he added.
Speaking about the impact of floods on the business, Sony said, “There have been floods across various parts of the country and that does disrupt your supply chain and inventories. That could have a temporary small impact on demand but overall we should be able to grow between 8 percent and 10 percent this year.”
"The company has opened five new outlets in the state of Rajasthan, three in Ahmedabad and two in Surat. Tata Global is present in 8 cities with 157 outlets overall India," he said.
“We continue to see growth as we had seen in the last financial year,” he added.