70% revenues of Tata Group came from overseas in FY16
Salt to software Tata Group has registered revenues of $103 billion in 2015-16 as against $108 billion in the year before last. However, in rupee terms its revenues grew to Rs 6,72,408 crore as against Rs 6,58,432 crore in the previous to last fiscal.
Tata Group, in a statement, said, “The dollar value drop in revenue is largely due to global political uncertainty, a steep reduction in commodity prices, and volatility in currencies.”
69% of the Group’s revenues, around $70 billion came from its overseas operations.
The company said, “Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion. International revenues at around $70 billion constituted 69% of the group’s revenues.”
The Group spent $28 billion in the last three years on capital expenditure with $9 billion coming in the last year alone.
The group closed FY 2015-16 with a market capitalisation of its 29 listed companies of Rs 7,71,191 crore ( $116 billion). “This reflected a decline in market capitalisation compared to the previous year of 7.4%, as compared to a decline in the Bombay Stock Exchange (BSE) Sensex of 9.4%,” it said.
Cyrus Mistry, Chairman, Tata Sons, during the Annual Group Leadership Conference (AGLC), that marks the birth of JRD Tata, emphasised “our people are at the heart of the group’s Vision 2025.”
The vision is that by 2025, “25% of the world’s population will experience the Tata commitment to improving the quality of life of customers and communities. As a result, Tata will be amongst the 25 most admired corporate and employer brands globally, with a market capitalization comparable to the 25 most valuable companies in the world.”