Why Tata Group is God figure in business world

 

Why Tata Group is God figure in business world

  • Tata Group had to hold back growth investments and embark on debt reduction during Covid. What was your financial strategy?
  • We exercised financial discipline during this time.
  • Many advisers told us that liquidity would become a problem and advised us to raise capital.
  • But we went with the contrarian approach. In one of the online meetings of group CEOs, we decided to manage the businesses with cash flows. We conserved cash and didn’t increase debt in any of the companies.
  • I had frequent calls with CEOs at that time to discuss business. It was for understanding whether anyone had a problem. Tata Sons was ready to step in. We had communicated to companies since the beginning that the holding company would pump in money if they had any issues. But everyone managed and their numbers improved a lot.
  • Project delays were not because of capital shortage but shortage of workforce. We were not getting workers at construction sites. But we caught up with everything later, whether its expansion in steel, or capacity addition in automobile or renewable power projects. We brought everything on track without leveraging the balance sheet.

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