Dear shareholders, good morning. This is Neelabja Chakrabarty, Company Secretary. I am very pleased to welcome you to the 59th Annual General Meeting of Tata Consumer Products Limited, held through video conference and other audio visual means. I would like to take you through certain points regarding the participation in this meeting. The facility of joining the AGM through video conference and other audio visual means is being made available for members on a first come first served basis. All members who have joined this meeting are by default placed on mute mode by the host to avoid any disturbance from the background noise and ensure smooth and seamless conduct of the meeting. Once the question-and-answer session starts, the chairman will announce the name of the shareholders who have registered as speaker shareholders one by one. The speaker shareholder will thereafter be unmuted by the host. To start speaking, the shareholder is requested to click the video on button. If the shareholder is not able to join through video for any reason, the shareholder can speak through audio mode. While speaking, we request the speaker to use the earphones so that he is clearly audible. Minimize any noise in the background. Ensure that Wi-Fi is not connected to any other device. No other background applications are running. There is proper lighting to have a good video and audio experience. If there is a connectivity problem at the speaker shareholder's end, we would ask the next speaker to join. Once the connectivity improves, the speaker shareholder may be called again to speak, once the other shareholders who have registered complete their turn. We would like to request the shareholders to limit their speech to three minutes. During the AGM, if a shareholder faces any technical issue, the shareholder may contact the helpline number mentioned in the notice of the AGM. Thank you. Over to you Chairman, sir. Good morning shareholders. I welcome you all to the 59th annual general meeting of Tata Consumer Products Limited. As the requisite quorum is present, I now call the meeting to order. I would now request the board members who have joined this meeting through video conference to introduce themselves. Mr. K. P. Krishnan? Good morning, shareholders. I'm K. P. Krishnan, an independent director of your company. I'm also the chairperson of the Audit Committee and a member of the Corporate Social Responsibility and Sustainability Committee. I am joining this annual general meeting through video conferencing facility from New Delhi. Thank you, sir. Mr. Bharat Puri? Bharat, you are on mute. We can't hear you. We'll come back to you. Mr. Siraj Chaudhry? Morning. Good morning, shareholders. I'm Siraj Chaudhry, an independent director with Tata Consumer Products Limited. I chair the CSR or the Corporate Social Responsibility Committee and the stakeholder committee of the board and I'm also a member of the Risk Committee and the Audit Committee. I'm joining this meeting from my home in Lucknow. Mr. David Crean? Morning shareholders. I am David Crean, an additional director of your company with effect from the May 4th, 2022, in the category of Independent Director. I am joining this annual general meeting through video conferencing from the United Kingdom. Thank you. Mr. P. B. Balaji? Morning shareholders. I am P. B. Balaji, a Non-Executive Director of your company. I'm joining this annual general meeting through video conference from Mumbai. Mr. Bharat Puri, can you try again? Sorry, your voice is not audible. Dear shareholders, Mr. Bharat Puri is also- Is it audible now? Yes. Yes. Good morning shareholders. I'm Bharat Puri, an Independent Director of your company. Sorry for the inconvenience. I'm also Chairman of the Risk Management Committee and a member of the Audit Committees and the Nomination and Remuneration Committee. Pleasure to be here. Thank you Chairman. Thank you all. With me present here in Mumbai are Sunil D'Souza, the MD and CEO, Mr. L. Krishna Kumar; ED and Group CFO, Mr. Neelabja Chakrabarty; Company Secretary, and also Mr. Ajit Krishnakumar, the Chief Operating Officer. Ms. Shikha Sharma, Independent Director and Chairperson of the Nomination Remuneration Committee, is not attending this meeting today due to other commitments. The statutory auditors, Mr. Sanjiv Pilgaonkar and the secretarial auditor, Dr. Asim Kumar Chattopadhyay, have joined this meeting through the video conference from Mumbai and Kolkata, respectively. The members of the senior leadership team of the company have also joined this meeting virtually from their respective locations. I thank all the members who have joined this meeting and I hope all of you are safe and in good health. Due to the continued impact of the COVID-19 pandemic, the Ministry of Corporate Affairs, through its general circulars has permitted the holding of the AGM through video conference and other audio visual means. Hence, in compliance with the directions of the Ministry of Corporate Affairs and the SEBI listing regulations, this AGM is conducted through video conference and other audio visual means. The live streaming of this meeting is also being webcast on NSDL's website. The company has taken the requisite steps to enable members to participate and vote on the items being considered at this AGM. The company has received 31 letters along with the board resolutions from the corporate shareholders appointing and authorizing representatives under Section 113 of the Companies Act, 2013 in respect of 32 crore, 46 lakh, 61,000, 316 equity shares, representing 35.23% of the paid-up equity share capital of the company. Since there is no physical attendance of the members, the requirement of appointing proxies is not applicable. The registers, as required under the Companies Act, 2013 and the documents that are required to be kept open in terms of the resolutions provided in the AGM notice are open for inspection. Members who have not voted earlier through the remote e-voting can cast their votes in the course of the meeting through the e-voting facility. The notice convening the meeting is already circulated to all the members. With your permission, I take the notice as received and read. Since there is no observation, qualification, or comment by the statutory auditors in the report on the financial transactions or matters which have any adverse effect on the functioning of the company, the auditor's report does not require to be read. Before we proceed with the meeting, I would like to share a few thoughts on the Company's performance. The Tata Consumer Products company was formed just about two years ago with the ambition of becoming an important and leading player in the FMCG industry. This was in alignment with the Tata Group's larger vision to simplify, synergize, and scale our businesses. The formation of the Tata Consumer Products opened up a number of new and exciting opportunities for growth. Last year has been a very eventful one. The challenges posed by the pandemic and more recently, the geopolitical developments have resulted in a volatile macro environment with a wide-ranging impact on people, economies, and businesses. The challenges have also thrown up many opportunities for us to adapt to new ways of thinking, be agile, and build for the future. This mindset has helped your company to deliver a strong overall performance. During the year, we made substantial progress on all the six strategic priorities that we had identified for the company. Significant progress has been made on expanding our distribution, accelerating the pace of innovation, redesigning our supply network, and driving digital transformation across the value chain. These are investments we are making for the long term and I am confident they will open up many opportunities for future growth for the Company. In terms of performance, the India business grew 13%, and we recorded our market share gains in both our core categories of tea and salt. Currently, we reach over 201 million households in India and distribute to over 2.6 million outlets. We have expanded our portfolio into ready-to-eat category with the acquisition of Tata SmartFoodz, and the business has been integrated with great speed. Our growth businesses, NourishCo, Tata Sampann, Tata Soulfull, and Tata Q, collectively grew 52% during the year, and we are investing in these businesses to fuel them for growth further. Despite the challenges posed by the pandemic, we opened up 50 new Tata Starbucks stores last year, taking the total to 268 across 26 cities. Digital transformation across the organization and the value chain is a key focus area for us and the work on this is very much underway. Our international business saw modest growth on the back of double-digit growth last year. Our coffee business in the U.S. is seeing stable market share, and we are following a three-brand strategy in tea for international markets with Tetley, Good Earth, and Teapigs. We will continue to drive further efficiencies there and strengthen our portfolio in fruit and herbal and specialty teas to find new sources of growth. We accelerated the pace of innovation during the year across India and international markets. We have launched several new products across both the foods and the beverages portfolio, catering to consumer needs in terms of health and wellness, taste, and convenience which have also helped us expand our total addressable market. The contribution of innovation to sales has gone up 2 x during the year. As part of the simplification of our company, we recently announced a reorganization plan to combine Tata Coffee's business into Tata Consumer Products. This exercise will bring similar businesses in two companies together, create a dedicated vertical to drive focus and result in revenue synergies and operational efficiencies. Now coming to the financial performance of the Company. Consolidated revenue for the year was INR 12,425 crore, a 9% growth on a like-for-like basis, net of exits. Consolidated EBITDA for the year was INR 1,749 crores up by 11%. The consolidated PAT for the year was INR 1,079 crores up by 9%. On a standalone basis, the revenue was INR 7,932 crores up by 11% on an annual basis and EBITDA was INR 1,111 crores up by 21%, and PAT was INR 886 crores up by 43% on an annual basis. The board has recommended a dividend of INR 6.05 per equity share, a 49% increase over the last year. As we work towards achieving the long-term vision for the Tata Consumer Products, the current operating environment remains highly volatile. Geopolitical tensions, supply chain challenges, and demand-supply mismatches in crude and several other commodities are driving inflation which will likely impact demand across categories. In this uncertain environment, we'll continue to focus on strong execution, maintaining agility and nimbleness to adapt and navigate through short-term bumps and more importantly, to take advantage of the opportunities that could arise during this period. In closing, I would like to thank all our employees for their commitment and contribution to the success and most importantly, want to thank you all shareholders for your continued support and confidence in the company. Now I would request Mr. Sunil D'Souza, MD and CEO to make his presentation. Thank you Chairman. Tata Consumer Products is now an integrated food and beverage company. Number two branded tea player globally., INR 12,400 crores consolidated revenue and market cap as of end March of INR 70,000 crores. As the Chairman mentioned, we reached north of 200 million households and distribute about 2.6 million retail outlets in India. We are among the top 10 FMCG companies with a plethora of very strong brands with 3,000 employees globally. Now for key highlights and financial performance. Our consolidated revenue like the Chairman mentioned, was up 9% net of exits. Group net profit was up 9%. The India business grew 13% with beverages up by 10% and foods up by 19%. The international business cycling a very strong year ago, given the COVID and pantry loading scenarios which happened there was up by 1%. The consolidated EBITDA was up 11% and there was a margin expansion of 50 basis points. We had strong free cash flow conversion, FCF to EBITDA was 100% for the year. Given the good results, the proposed dividend of INR 6.05 per share is up by 49% year on year. During the year, we gained market share in our core categories of tea which was 100 basis points and salt of 400 basis points. We continued to power up our brands, driving A&P up by 29% year on year to strengthen the brands. We continue to invest in building blocks for the future, S&D, digital and innovation. Most importantly, innovation was up 2x versus last year. In line with the group's focus on simplify, synergize and scale, we announced a global simplification plan to consolidate minority interests and the merger of Tata Coffee. In line with our strategic priority of exploring new opportunities, we acquired Tata SmartFoodz to foray into the value-added, high margin, ready-to-eat category. As a snapshot, India beverages revenue was up 10%, and we crossed the INR 5,000 crore mark. India foods up 19% just shy of INR 3,000 crore. U.S. coffee, led by cost-led pricing, saw a slight shortfall on revenue, on volume, but revenue was flat at about INR 1,295 crore. International tea crossed INR 2,000 crore with a 1% growth. Tata Coffee crossed INR 1,000 crore at INR 1,070 crore with 11% growth. Overall, INR 12,425 crore. In summary, it was a 9% growth on revenue, 11% EBITDA, 12% PBT, and 9% group net profit. INR 12,425 crores of revenue, INR 1,056 crores of net profit. Margins expanded 50 basis points on EBITDA, 40 basis points on group net profit, EPS was up by 9%, and we're sitting at about INR 2,500 crores of cash. In line with our business performance, the proposed dividend of 6.05 per share is up by 49% and our overall performance has also resulted in higher market capitalization for your company. As of May 31st, our share price was at 760 and market cap of roughly INR 70,000 crores. It's a CAGR of 38.5 and 46% if you look at either a five-year or a three-year period. Quickly, against our strategic priorities, the six priorities that we've defined of strengthening, accelerating core, driving digital and innovation, unlocking synergies and focus on costs, creating future-ready organizations, exploring new opportunities, and embedding sustainability. Now, in strengthening and accelerating core, last year we closed at 0.6 million outlets. FY 2022, we closed at 1.3 million outlets directly. We are targeting to go to 1.5 million outlets. It's not that we are adding only 0.2 million. We will add much more as we focus on wholesale and indirect reach. But for this year, on an average basis, tea grew by 18% in numeric reach and salt by 15%. Our entire distribution system is now digitized with DMS and DMS Lite for rural and sub-distributors and all salesmen equipped with the SSFA. We added 25% more direct distributors and crossing the 2,000 mark and now we are focused on improving reach in what we call rest of urban and rural, appointing rural and semi-urban distributors which are up by 4 x to 8,000 distributors. We are focused on growth in the channels of tomorrow with a fit-for-purpose assortment. Execution is key. Modern trade crossed INR 1,000 crore, up 30% year-on-year, e -commerce share for tea was at 41.9%, way ahead of competition. Overall, in the last two years, we've tripled e-commerce as a percentage of our total sales. We continue to power up our brands with high-impact communication focused on national events, product launches, big media properties, and consumer trends. A&P was up by 29% and combined with distribution and execution, our market share in tea was up by 100 basis points. Our focus in foods has been on premiumization, expansion of solar salt in the South, new businesses like Soulfull and consumer education on lookalikes which are nibbling at our heels in some markets. Our market share in salt was up by 400 basis points. Premiumization is a huge focus. Volumes in Sampann were up by 28%. Value-added salt grew by 26% which is 9% ahead of the base. Coffee was on a strong wicket with 45% growth but we still got a long way to go. Premiumization in tea was also part of the game, with Tata Tea Gold now close to 5% of Tata Tea Gold base. We've made progress across key metrics. Now, given the ups and downs driven by COVID-19 including cost increases and pantry stocking, we should also look at a two-year CAGR. India packaged beverages two-year CAGR up by 19, India foods revenue up by 18, and international beverages up by six. In overall results, Tata Consumer Products consolidated revenue up by 14%, PBT up by 18% on a two-year CAGR, and group net profit up by 49%. We've continued the momentum on innovation, whether it's in the foods portfolio, the ready-to-drink packaged beverages or international with innovation to sales now at close to 3% which is double of where we exited last year. We are also focused on transformation of our supply chain to create an efficient, cost-effective and sustainable footprint. We now have 38 centers across the country catering to about 11,000 drop-off points. Integrated system which has resulted in a 25%+ reduction in secondary freight. Our digital journey is underway with integrated business planning already on its way, and now the focus on inventory optimization and S&OPs. Future readiness in our plants with manufacturing. We're scaling up IoT in our flagship factory at Gopalpur. Sustainability remains focused. Renewable energy now accounts for 24% of our energy needs. We perfected a copy and paste model of rapid integration of acquired businesses. Tata SmartFoodz and Soulfull, we acquired and integrated within three months. The global simplification plan which we've announced, has an India leg which involves Tata Coffee combining with TCPL and the plantations into a wholly owned subsidiary and an international leg, where purchase of the minority interest of the U.K. business from Tata Enterprises overseas through preferential allotment by TCPL. This will also enable, most importantly, further reorganization initiatives in our international business to continue to simplify and synergize our businesses. This will unlock synergies and value for shareholders in four main buckets. The first one is operational efficiencies for management, legal and administrative cost by significant reduction in the number of entities from the current 43 to about 23 to 25. We will have faster decision-making and execution with a single listed entity capturing the full value of the TCPL group. Number three would be creation of focused business verticals, combination of the tea, and extraction businesses that we have in our portfolio, and a dedicated plantation vertical. Lastly, unlocking potential synergies for material revenue, cost, And other synergies over the medium to long term and a single holding company for internationa, which gives us cash and dividend efficiencies. Our new engines of growth are firing up. Ready-to-drink, Tata Sampann, Tata Soulfull and Tata SmartFoodz contributed to 52% revenue growth in FY 2022. We had inorganic acquisitions and glad to report that we made significant progress in delivering value out of this. In Tata Soulfull, we integrated in 100 days, rebranded Soulfull to Tata Soulfull. We have a healthy new product pipeline including collaborating with institutions like the Indian Institute of Millets Research and now we are scaling our value. For example; the Ragi Bites Choco is already available in 3 lakh+ outlets. With NourishCo, we made still more substantial progress. Himalayan broke even at EBIT level for the first time. Tata Copper+ grew by 3 x. We've expanded distribution by 80%. The whole hypothesis when we acquired this company was that it's only present in 25% of the country. Now we're expanding into the east, north, as well as parts of west and south. We expanded capacity by 50% and innovation in this business is north of 10%. In terms of sustainability, sourcing tea remains the focus, 100% of our international and 60% of India is sustainably sourced. Water is focused with water sanitation and hygiene focused around about 25,000 members in Assam and Himachal. We've reduced our greenhouse gas emissions by 26% and renewable energy has been scaled to 24%. Waste management, we have zero waste management, zero waste at all beverage factories, 80% of our salt packaging is recyclable, and we have 100% extended producer responsibility in India. In terms of community development, we are focused on sustainable livelihoods, affordable healthcare to about 800,000 community members across the country. Very high-level snapshots of our different businesses. India packaged beverages, volume up 3, revenue up 6, with a 100 basis points market share gain. Coffee grew 45, EBIT margin was up by 400 basis points, and we continue to maintain the number one position in e-commerce. India Foods, volume up 8, revenue up 19, and a 400 basis points market share gain. Salt grew 17% this year after growing 17% last year, so very strong double-digit growth. Sampann grew by 30% on volume, albeit overall for the business, profitability was impacted by inflation on input costs, higher spending around A&P and investment around new businesses. NourishCo grew 83%, albeit on a small basis, reaching INR 344 crore revenue for the year. The highlight was Tata Copper+ growing 3.2 x and Himalayan achieving break-even on EBIT. Tata Coffee, overall revenue was up 11%. Plantations was down 3%. that was primarily because the growth in Robusta coffee and pepper was offset by lower revenue in tea, where realizations came off the highs of last year. We had a 19% growth in extractions, driven both by Vietnam and India. Tata Starbucks is now present in 26 cities with 268 stores, 96% of the stores are now opened. We added 50 new stores during the year and entered eight new cities and the highlight was 23 out of the 50 were opened in just the last quarter. The business also was EBITDA positive for the last quarter. In international, overall, U.K. revenue was down 2% because we were cycling a high basis of last year with COVID. Our three-brand strategy and the focus on herbal and specialty starting to pay off and Teapigs is up by 7%. We continue to maintain market share at 19.4%. In the U.S., we had flat revenue growth. Tea was -8% again, cycling a very high base of 16% growth of the previous year and our market share was 4.3% in coffee bags. Canada, again cycling a very high growth, 15% growth of last year. Revenue was down 7%, specialty was down 9%, but we continue to maintain a very strong 27.8% share in Canada. In terms of awards, your company had several awards. In corporate governance, we were featured in the leadership category for the second year in a row by IIAS, robust due to the strong governance practices of the company. We were the most chosen FMCG brand in the 2022 study by Kantar. We created value. We were recognized by Dun & Bradstreet as creating FMCG value. We won the Best Corporate Website and Annual Report award. Tata Tea also emerged as the most purposeful brand in a study by Kantar and we won the Masters of Risk award for the third consecutive year in the FMCG sector large cap at the CNBC-TV18 Risk Management Awards. Thank you. Thank you Sunil. Now I proceed to invite all shareholders who have registered to speak at this meeting. I make the following request to all shareholders. A large number of shareholders have registered to speak at this meeting. Therefore, I would request each shareholder to keep his or her remarks very brief and to the point. Second, if a particular remark or comment has already been made by other shareholders earlier, I would request you to avoid making them again. Now let me start with Dr. Arun Kumar Boppana. Arun Kumar. Good morning sir. Good morning. You're very kind to me today. You're reduced to one minute. With 41 speakers, you have a lot of heavy lifting. Air India will lift out, don't worry. Good morning everybody. Thanks to Neelabja and team for arranging this. The economy has begun to show signs of recovery with demand for health and wellness for protection against disease after the corona. We have an enormous runway to scale up fast with do it yourself cooking too. Starbucks, I expect it to cross thousand as early as possible. Merging Tata Coffee, what is the cost timeline and what are the benefits for stakeholders? Herbal nutraceuticals from plantations. We have so many plantations. We can do a lot of extractions and the great opportunities you mentioned about herbal teas, et c.. I think I am the right connect for you to proceed on this. The future will come from inorganic expansion, I'm sure. There's a lot of liquidity crunch in the market and with decent valuations, I'm sure, Tata Consumer Products will grow much faster. Sir, are we planning rice fortifications? 2 billion people across the world suffer from hidden hunger-related disease. Tata Trusts is doing in, on some part of Andhra. Are we planning to do? Sir, there is stiff competition from Unilever and Reliance. What are consumer plans and actions? Indian FMCG is the fastest-growing with increased nuclear families, urbanization, and tech adoption. More people are entering consumption cycle. Can we become a plastic-neutral business by building a circular economy? In conclusion sir, I wish TCPL all the best to meet consumer needs for health, hygiene to create a future-fit business. Thank you very much sir. I'm in Bangalore, I'll come and see you as soon as possible. Bye-bye. Thank you. Mr. Manoj Kumar Gupta. Good morning respected chairman, board of directors, fellow shareholders. My name is Manoj Kumar Gupta, I'm Equity Shareholder of Tata Consumer Products Limited. Thanks to our MD for his nice presentation to the shareholders with all information. Thanks to our Director of Finance, Group Finance Director, Executive Director and Group Director of Finance, Mr. L. Krishna Kumar for his efforts to take the company in the right path. I thank company secretary and his team to help us to join through this meeting through VC. I thank to your group that we just now I've got a call that either I've joined the meeting or not. Student CSR. Sir, what's your view on single-use plastic ban, of which effect from first July, the government will issue a circular to ban on single-use plastics? What's your view, sir? I thank the board for merger of Tata Coffee with Tata Consumer Products. It's a long demand from the shareholder that Tata Coffee should merge with the parent company, so that you are going. All, I believe that shareholders will be benefited under your leadership by the merge and de-merge of Tata Coffee. What's your future plan with CapEx? Convey our best wishes to Sri R. K. Krishna Kumar. He's the real architect of this company. Whatever the Tata Consumer Products is today, his contribution is bigger in this company to come at this stage. Because he, I am the shareholder from 1990 and he was the MD at that time of Tata Tea. After that, Tata Tea had changed 3x name. Sir, your brands are very popular. Tata Sampann brand of iced spicy, ready to drink. Sir, what is the impact will come through Russia-Ukraine war on our company? Overseas business is down in U.S. and Canada, so how you will face this challenge? Even that market share is right now in Canada 27%, in U.S. 19%. How you face this challenge? How you will reward to the shareholders? In Hindi, I will say one thing. In 1994, you have issued the bonus 1:2. Ram 14 साल के लिए बनवास गए थे और पांडव 13 साल के लिए। How many sad days you will send the shareholders for the banwas to wait for the bonus share under your leadership? In TCS, you have issued the bonus in other companies, so why are you not issuing the bonus in TCPL after 28 years on the eve of 60 years? Because next year we will celebrate our diamond jubilee, 60 years. I believe that you will consider the reward to shareholders by way of bonus. May I again request you to come to Calcutta. Do not avoid Calcutta. Sir, these politicians may come or may go but business will be strength and business will be theirs. Nothing to sir, may I pray to God for your more success in coming time to take care of your guys. Thank you, sir. Thank you. Mr. Naveen Bothra. Hello. Yeah. Yeah. Naveen Bothra. Pleasure attending the 59th annual general meeting from Delhi. Good afternoon, our Chairman Chandrasekaran sir, management team led by Sunil D'Souza Ji. The other esteemed board members and management, KMP joining the meeting. Sir, congratulations to Tata Consumer Products team for improved performance and first time achieving the EBITDA of more than INR 1,000 crore in history, despite unprecedented challenges of pandemic and geopolitical flare-ups. I highly appreciate the personal intervention of our company secretary, Neelabja Chakrabarty and his team for smooth onboarding as a speaker in this meeting. We highly appreciate this approach of our secretarial team and Neelabja Ji. The colorful integrated annual report which gives a very good feeling and ensures that we are on course. The theme of the annual report is On Course for Better. अच्छे दिन और अच्छे होने वाले हैं। इसके बारे में हम Chandrasekaran sir से यह पूछना चाहेंगे कि main चीज, what we can be for better? हम अच्छे के लिए और क्या हो सकते हैं? हमारा FMCG आपने बताया कि Company but right now we are in the food and beverages space only. In the last two, three years, we have beautifully integrated all the various pieces of food and beverages in the groups, various arms. Now the Tata Coffee merger is also going to happen which will further, scale and synergize our operations. In this view, my first question is regarding the. Right now, we are having two, e-commerce platforms in the shape of BigBasket and Tata Neu. How these both platforms are going to help our company's reach and scale it up very fast? Your views in this regard regarding Tata Neu and BigBasket helping Tata Consumer scale up its distribution further. The second thing is regarding, sir some portion of our FMCG which we make in our company also, how we are going to. Parent is also having some products manufacturing and distribution through Star Bazaar. In this, your views regarding any further restructuring of our consumer space in the coming times. Secondly, sir, regarding the suggestion regarding the non-heritage beverages having mass distribution, we appreciate it very much but in the region I am there from 2017, I'm seeing Tata Fruski here in Delhi NCR for the last five, six years on and off mode. The various vendors and stakeholders are not satisfied with the supply chain dynamics of our NourishCo, Tata Fruski, Tata Copper+ and Tata Gluco+. Even I have to-w e ourselves have to distribution.[Foreign language] Third thing is regarding our bread and butter, the black tea business and our number one competitor globally and in India also, Brooke Bond and Lipton parent is refocusing from the black tea business globally except in Indian subcontinent. In this scenario, what will be our strategy to further gain market share in the value-added black tea space and to be number one globally as well as in India also? Finally sir, regarding our R&D expenditure budget, page 24 of the annual report says that our R&D expenditure is around INR 24 crore which is, I think, quite low in comparison to our revenues of more than INR 12,000 crore. Please kindly consider. Also regarding enlightenment on the proposed R&D expenditure for this financial year. I wish Tata Consumer Management all the very best in times ahead. Already voted in favor of all the resolutions, sir and propose a vote of thanks to the board. Thank you very much for providing me the opportunity. Thank you very much. Thanks sir. Thank you. Ms. Patel. Hello. Yes, ma'am. Hello. Good morning sir. Respected Chairman, our Mr. Chandrasekaran, eminent Directors on the board, Mr. Sunil D'Souza, the CEO and MD of our company, and our very respected Mr. L. Krishna Kumar Ji, very good morning to you. This is the 59th AGM and the company is giving us a dividend of INR 6.05. Sir, I would like to know why it is INR 6.05. On the contrary, INR 0.05 is very, it's very surprising. Sir, it should have been that we should have not given the dividend this year. We should have used this amount of dividend for our company supplement more and more. Anyway, it's management decision. Thanks for giving us the dividend. PAT is up by 13%. Net profit EPS, book value or revenue are all up. Sir, investment and cash equivalents has come down considerably. Inventory level has gone up to a great extent, sir. Finance and other expenses are also increasing. If care could have been taken a little. My main point is, we have very good items in our Tata Consumer that is Tata Gluco+, Tata Copper+. Now it is going to come in the jelly variant. Sir, why these items are not sold in our Bombay market? We have this Teapigs, Good Earth, Good Earth Good Energy and Super Multivitamin Tea. None of these items are in India. None of these items are in Bombay. Why don't we have it in our Bombay market? Bombay is the financial capital of India. Why can we not have this in our metros also? We have this be your own barista over delivering in every cup. Excellent. But nothing in India, nothing in Bombay v ery surprising. Sir, the black tea i t is not fair. It is on the decline in the U.S. and Kannan Devan plantations is also declining. So why are we not paying a little more attention to it? We have 42 subsidiaries, three joint ventures, two associates. Sir, what is this material subsidiaries unlisted material subsidiaries. What is it? I would like to know that. Three unlisted material subsidiaries we have Eight O'Clock. Then the Tata Consumer in U.K. and GB i f you can throw light on this please I request. There are some mixed stores. Please throw light on that also. Further opening of mixed stores. We have the one mixed store in Bombay, one at Amritsar and one in Guwahati. I would request management to throw some light on that, please. The joint venture has almost grown by 76%. Sorry, yes, it has grown by almost 76%. Thanks to our mixed stores. Please do throw light on this. I also thank Mr. Neelabja Chakrabarty and his team and Mr. Amit Dudani for taking great trouble in sending us the annual report. I also congratulate the company for the various awards and accolades. Indeed, the company is a very great place to work. Certified with high level of high trust and high performance. I wish all everybody in the company, all the employees, all the very best for taking great trouble. The management team, the board of directors. Good luck to you all and hope to get dividend a little more in the next coming years and if possible bonus also. Thank you very much. We have faith in you, Mr. Sir. We have faith in you, Chairman Sir. Of course you will lead the company to high levels. Thank you so much for this 59th AGM allowing me to speak. Thank you. Mr. Santosh Kumar Saraf. Yes sir. एक मिनट, video start कर रहा हूँ। Video share कर रहा हूँ sir। माननीय सभापति जी, उपस्थित निदेशक सदस्यगण और मेरे shareholder भाइयों, बहनों और अधिकारीगण जो आज हम video conference through present हैं। मैं Santosh Kumar Saraf, कलसा से सर्वप्रथम आप सभी को नमस्कार करता हूँ। आशा करता हूँ आप हमारे जितने director हैं, जितने भी अधिकारीगण हैं, इस समय स्वस्थ होंगे sir. Sir, management और उसकी team को मैं धन्यवाद देता हूँ ₹6 या ₹5 dividend देने के लिए। काफी अच्छा dividend दिया है sir. और sir, मैं award जो मिला उसके लिए भी धन्यवाद देता हूँ। और sir, जो आपने presentation MD साहब, जो Sunil साहब ने किया है, वो इतना clear किया कि sir हमें सब प्रश्नों के मुँह से उत्तर मिल गए sir। मेरे एक दो छोटे प्रश्न sir, कि आप दाल आदि, बेसन आदि में आप protect कर रहे हैं sir। इसके बारे में बताने कष्ट करिएगा sir. Future में क्या आटा और rice के बारे में एक बार विचार कर रहे हैं, कि आटा का अपनी packet या rice की packet बनाने के विचार को बताने कष्ट करिएगा sir। दूसरा sir, मेरा प्रश्न promoter holding के ऊपर, अभी 34.68% promoter holding है और foreign portfolio investor की holding है 25.63%. तो sir, यह क्यों नहीं आपने care करके इसको 50% से above लेकर आए, जिससे की हम समझें कि काफी अच्छा safe रहेगा। इसके बारे में बताने कष्ट करिएगा। और Santosh sir, आपको एक बार धन्यवाद देता हूँ। मैंने 2019 में request की कि Tata Coffee को Tata Consumer में merge कर दिया जाए। उस साल का आपने कुछ नहीं बताया था, लेकिन इस साल आपने merge किया। इसके लिए आपको धन्यवाद देता हूँ sir। Sir, एक अपने 2,932 total employee हैं sir, women employee 982 हैं sir। इसका ratio 2.1 आता है sir। इस ratio को आगे और बढ़ाने के लिए, company gap कम करने के लिए क्या कदम उठाना है, यह बताने कष्ट करिएगा sir। एक sir, यह dispute cases काफी हैं, finance related cases हैं 2005 से। इसके बारे में क्या कदम उठाएं, यह भी बताइए sir। और sir, अपने जितने भी कर्मचारी उनकी family के welfare के लिए जो भी है, उसके लिए क्या कदम उठाएं, यह भी अगर हो तो बताइएगा sir. और पैसे reinvest करने की बात बताने कष्ट करिएगा sir। और sir, अभी आपने Tata Neu platform जो हमारे group में किया, काफी अच्छा sir, इससे कि हमको अलग-अलग website में जाना नहीं पड़ता। एक ही website से सब कुछ कर सकते हैं। इसके लिए भी आपको धन्यवाद देता हूँ sir. Last में, भविष्य की शुभकामनाएं देता हूँ 2022 के लिए। आप जितने director हैं, जितने भी अधिकारीगण हैं, जितने भी हमारे कर्मचारी और जितने भी shareholder और जितने भी हमारे customer हैं, उनके और उनके परिवार को शुभकामनाएं देता हूँ और भगवान से हाथ जोड़कर प्रार्थना करता हूँ। भगवान उनकी family को wealthy, healthy और prosper और safety के साथ दे, तो हंसी खुशी से next year हम लोग मिलें sir। और चलिए, video conference meeting जो आप लोगों ने रखी है, उससे क्या कि हमें फायदा होगा। मेरी age हो गई तो मैं जाकर आपको वहाँ पर hotel में meeting करना possible नहीं है। तो मैं चाहूँगा physical के साथ में आप यह video conference hybrid का एक portion रखिए तो अच्छा है। अभी के लिए तो हमने ऐसे ही किया sir। इसके साथ धन्यवाद। जय हिंद। जय भारत। नमस्कार। Thank you. Ms. Paridhi Agarwal. Good morning Chairman Sir and all the other members of the board. I am Paridhi Agarwal, a proud Shareholder of Tata Consumer Products and a member of Millennium Mams, Kolkata. Sir, I have two questions. The first one is, can you tell us more about the Tata Chemicals acquisition? What was the cost saving after this integration, as there was a lot of synergy in this acquisition? Sir, the second question, it is about the contribution to revenue from the water segment. Is there any plan to acquire other water companies? What other innovative ideas do you have in this area? For example; Tata Copper+. Do you have any other new products in the pipeline? Thank you sir. Mr. Manas Banerjee. I'm audible sir? Yes. Good morning everybody. Respected chairman, directors, and my fellow online shareholders. My name is Manas Banerjee, p roud to be a Shareholder, Tata Consumer Products Limited. My special thanks to secretarial department for give me an opportunity to speak at the AGM. Sir, I already casted my e-vote in all favor of the resolutions. Sir, as per my observation, Company has been maintaining a healthy growth and operating profit margin is 14%. Now, coming to my query. Sir, Tata Company recently entered the dry fruits category. I'd like to know what is the current status of this new range? Next, how do you see the Russia-Ukraine conflict impact Tata's export business? Sir, did our company carry out any study on consumer satisfaction trends? Do you consider expanding products portfolio of our company in the current financial? Sir, our company has healthy reserve fund in hand. My question is, do you consider any special dividend or issue bonus share to capitalize the reserve? I hope that our company will reach to the peak of prosperity with the leadership of this board of directors. Thus the shareholders will also be mutually benefited. That's all. Thank you sir. Thank you ma'am. Ms. Nidhi Kanoi? Good morning sir. I'm Nidhi Kanoi, I'm a proud Shareholder of our company and a Millennium Mams member from Mumbai. Sir, we at Millennium Mams have been attending the TCPL AGM for the last 15 years. We would like to congratulate you sir, for transforming our company in a big, big way. Sir, TCPL is a buyer of tea, so definitely the commodity price, that is black tea affects the profits of the company. What is the trend, sir, for this, for the current year? If it is on the rise, how do we hedge it? Is there any plan to sell the remaining gardens in South India? Since we understand that the focus of the company is to become a marketing company, sir. Thank you very much. Mr. Abhirup Nandy. Yeah. Good morning everyone. I am Abhirup Nandy from Kolkata. Good morning, respected chairman, key managerial persons, and other board members. Thanks for this opportunity to let me express my opinion on the annual report. Annual report has been framed very detailed manner and it is all the required disclosures have been clearly given. Thanks for the representation. In this notice you have nine resolutions and I think all of them are for the betterment of the company, so I've already voted for it. Congratulations on such a good result. I find this year having very good growth in revenue, growth in PAT, growth in return on capital employed. Return on net worth has also increased. I'm also happy with the shareholder rewarding policy as far as the dividend is concerned. I feel that it is not the correct time to declare bonus because CRR and securities premium is not that high. I think we should wait for some more time to get the CRR, capital redemption reserve, and securities premium to increase further so that the bonus ratio will improve when in later dates. My view is that corporate governance of this company is at the best one of the leading companies in the best corporate governance led by Mr. Neelabja Chakrabarty. He is one of the best compliance officer in the industry, sir. Sir, I find working capital and distribution channel has been optimized very nicely. I'm very happy with that, all the effort that the company is making. I have one query regarding that. We have two preferential issues to our wholly-w e have become wholly owned subsidiary of Tata Consumer Products UK Group Limited in two months back after passing a special resolution. If you can tell us something more about the company because now we are their wholly owned, it is our wholly owned subsidiary and so that we can understand the business of Tata Consumer Products UK Group Limited. I am just since there was a preferential issue, this may affect the earnings per share and dividend payout of the company but I am very, very much confident that the company will create more wealth because Tata Group is the only among the few who has created long shareholder value creation for them. I have an advice that if you can provide economic value added to the shareholders because it is a very important figure that shareholders must know. It is more important than EPS right now in the coming years. If economic value added figure is provided, it will clearly reflect the performance measurement and this will show the economic profit also. If the EVA is positive even if the EPS has gone down, if the EVA is positive, I feel that the company is worth investing. At present, it is my personal view that this company is positioned very well and I'm very happy with all the effort that the management is making. I hope everyone good health. This is Abhirup Nandy signing off from here. Thank you. Mr. Hiranand Kotwani. Yes, sir. Namaste sir. It is a great pleasure to be here. Namaste to all. Generally, this company is doing well. It is a young company, four years old. We are associated with this company from 1988, Tata Tea, erstwhile Tata Tea Limited. Certainly, I look at the marketing as well, marketing is not up to the expectation. Your products are good, no doubt. I used to go to the market, ask for your product because of the goodwill. Salt to teas available, other products are not available. How we are going to increase the market? At various geographical market is very low, gentlemen, particularly the Middle East and Europe, Canada, there's a huge market. Long way to go, 52% growth, I heard from your plan that people adopt from one year to scale is not there. Our revenue is not there. How you are going to improve this company? It is your vision and mission. How you're advertising, marketing, digital platform, investment in this advertisement and marketing? Thank you. Please state all this. Thank you, sir. Mr. Gautam Tiwari. Yes, sir. Can you hear me sir? Yeah. Probably you can see me also sir. Yes Gautam. Sir, so nice to see you, first of all because you are here. I have made it a point to attend the meeting and to greet you, sir. First of all, I must greet you. For the first time that the Padma Bhushan award which is the country's greatest award which you have got, sir, it is a very good feather in the Tatas and we are very much proud of as shareholders of your company with this award with you. Sir, I also thank you for many awards and accolades which our company has won. Sir, now to start with sir, very good morning to our esteemed and highly respectable chairman sir, all eminent and very well-respected board of directors, very eminent, highly respectable team, Tata Consumer Products Limited. Sir, I'm Gautam Tiwari, as explained and I'm participating at this AGM from Bombay. I would like to specially thank sir, our CEO; Sunil D'Souza for the way he has explained this in the beginning about the working of the company. Marvelous, sir. I was listening each and every word carefully and I was very happy after knowing this. Many of the questions have been already answered. Also, our CFO; Mr. Krishna Kumar, our CS Neelabja Chakrabarty, and full secretarial finance team along with the entire management team with all staff and employees for delivering outstanding, eye-catching, unmatched quality performance, sir, during this year. Although with so many geopolitical glitches in the way and challenging circumstances still given so much of the happiness thing. You have paid a dividend of excellent dividend sir, 605% v ery generous. It is very generously given. Sir, our company has really worked hard, as usual, for identifying the area and project of CSR activities which are very much beneficial to the public at large. Thank you very much to the relevant departments and the CSR committee for this. Sir, balance sheet and is quite informative, transparent as usual and it is well-designed with all facts and figures in place, well received by us in due time. Also investor care service, investor care of our central department is very much shareholder-friendly. Thanks to relevant department for this excellent investor service. Also sir, the services of our NSDL and the Webex team, technical team is very good, sir. Thank you very much for selecting such nice and popular service providers for all, we shareholders, sir. Sir, I support all appointments and reappointments of directors on board and I support all resolutions which are already voted in favor of them. Sir, a few small things which I would like to know, sir, if you can enlighten, sir, now or afterwards also. Sir, how many new, probably you might have enlightened but I might have noticed that, sir, how many new products launched during the year, and how many are in the pipeline? Sir, what is our roadmap and CapEx plan for next two years? Sir, our R&D spend is, sir, INR 24 crore. Don't you feel it is quite low, sir? We can do much better with better R&D spend in our company t hat is what we feel, sir. Your opinion is very important for us about this, sir. Sir, how many outlets we have opened this year, especially in urban, semi-urban and metro cities? Sir, you have said in your speech sir, that we have got the target of having 1.5 million outlets. So when do we intend to achieve this target? We must have decided some timeframe to achieve these targets, sir. Sir, Tata Coffee and Tata Starbucks are contributing to what percentage of our total profits, which is, I think, going quite good? Sir, what is your view for single-use plastic ban circular has come from government, sir? Sir, this question has been asked. I am also equally anxious to know what is your view about this, sir? Sir, bonus share, everybody has said, but I am very sure, sir, you will give it at appropriate time. Sir, last thing is there, sir. How many profit-making subsidiaries do we have, and what are we doing about our loss-making subsidiary company's strategy? Sir, as usual, I wish you all especially and all others also, a very safe, healthy, wealthy, happy, prosperous, long life sir, and bright future for the company in your hands. Our company is very safe, healthy in your hands. I thank you very much sir, for your excellent performance everywhere for country also and for our organization also and for shareholders and stakeholders also. Thank you very much, sir. Here is Namaste. Jai Hind. Jai Bharat. Thank you very much, sir. God bless you. Thank you. Ms. Lekha Shah? Hello. Can you hear me sir? Yes. Respected chairman sir, board of directors, and my fellow members, good morning to all of you. Myself Ms. Lekha Shah from Mumbai. First of all, I'm very much thankful to your company secretary team for extending very good investor services and also sending me the AGM notice well in time which is full of knowledge, facts and figures in place. Sir, I would thank all the personnel company for receiving awards and recognition by the various clients during the year 2021 and 2022. I am glad the company is doing very well in the field of CSR activities. Sir, Tata Consumer Products, what are the new ready-to-eat brands introduced in the domestic market? My second question, since plastic is used for the packaging of our products, what alternatives do you have due to government regulations to ban plastics? My third question is, how many R&D centers we have in different states? I would like to say I strongly support all the resolutions for today's meeting and my best wishes always our company and its prosperity. Thank you sir. Mr. Gautam Nandi? Yes, sir. Am I audible and visible sir? Yes. Good morning and namaskar. Respected chairman, board of directors, and my online fellow shareholders. Myself Gautam Nandi of Kolkata, very old Equity Shareholder of Tata Consumer Products Limited. Sir firstly, I'd like to give thanks to your secretariat department for sending me annual report and other necessary relevant papers through email well in advance. Specially thanks to our respected Company Secretary; Mr. Neelabja Chakrabarty, very sober, well-behaved, and most dynamic person, and his whole team for rendering very good services to our minority shareholders. Sir, you are organizing your annual general meeting through video conference for the third time and I find it is a grand success. Sir, a few years back, we had faced GST and demonetization. Sir, "ye dono ka effect khatam hote na hote 2020 main hum logoko COVID-19 attack kiya" and "abhi tak uska effect jari hai" sir. We are very much affected. Each and every company is suffering very, very much. I am very glad to see that despite a tough pandemic and most challenging year, you are giving healthy dividend to our minority shareholders. Sir, I find from your page number 134, your CSR is very strong. Thank you, sir. Please keep it up, sir. Sir, I also find good amount of investments done in subsidiaries, joint ventures and associates. Sir, our TCPL is growing both organically and inorganically. Sir, very pleased to see your distribution channels optimized. One more thing, sir. Your rebranding of Tata Copper+ is a very good step. Sir, congratulations for various types of awards won. Sir, 呜 我 们 很 开 心 成 为 你 的 股 东. Sir, your market share has also been increased. 这 两 个 月 除 外. the recognition we get, Sir, we must appreciate it. Sir, we are proud, very proud to see you always take care of our minority shareholders. Sir, your performance is very good, your behavior is also very good. Sir, what can I say? I must give my hearty thanks to each and every employee of your company for their good gesture, good behavior, and good hospitality, sir. Because in your Kolkata office, Mr. Shiv Shankar Roy of your Kolkata office is very sober, well behaved, and efficient person. His whole team, including Mr. Arghya Chakraborty, is very cooperative. Sir, I am very proud to be a shareholder of your company and I am very hopeful towards the prospect of our company sir. I have full trust with your strong management like you, sir. I wholeheartedly support your all resolutions which I have already cast through my e-voting. Sir, I am very happy with your company. Nothing to say more, sir. Looking forward with a positive outlook towards our company with higher profit margin, handsome dividend, and return. Sir, may God bless you, sir. Stay safe, stay healthy. Signing off. Gautam Nandi, sir. Thank you. Next, Mr. Pranab Da. Yes. Good morning, o ne minute. Good morning sir. Yes, I'm very happy to see your smiling face again. I want to see my lifelong your smiling face and your dynamic personality which we have actually very much in our heart, touching our heart always. First thing, you have actually given me opportunity to tell something about the 59th AGM of our group companies like TCPL. Also congratulating to you for Padma Bhushan Award for Trade and Industry on January 26th from our government of India. We are proud of you, sir, w e are always proud of you. Now, I should say if I will maybe fail my duty regarding Neelabja Chakrabarty and his team members like Shiv Shankar Roy and Arghya Chatterjee from Kolkata and whole his team members. Yes, they are giving me chance to connect the VC. Not only that, this, just now, Madam Marlene D'Mello she has also given me a chance to connect with you. Sir, TCPL is integrating its distribution and supply chain network to drive efficiency in the current market condition and increase more and more distributors, dealers, retailers for all the times. I am extremely sorry to tell you that our dealers and distributors network and also retailers network are very poor in India. Somehow we have to develop. New business for FMCG in TCPL. The growth ambitions of our company is evident with the recent acquisition made in the food and ready-to-eat categories as well as the scheme of arrangements with Tata Coffee to build up larger and more focused FMCG company is move in the right direction on right way. Sir, my appeal to you, kindly think about the diversify the business little bit, say 50% diversification to be required from non-beverages and non-food segments over a period of time which will help turning our company more profitable industry in India as well as abroad and also into the full-fledged FMCG company. My suggestion is this. Beauty and wellness products, healthcare products that some shampoo, soaps, all these things, floor cleaner, biscuit also, paper and pulp, including hardboard, cardboards industry, vegetable oil, coconut oil and vanaspati, instant noodles, pasta, potato chips. Nowadays, actually this is covered up in India. Dairy products also, like ghee, makhan, all these things. Moreover, plastic and rubber molded goods. My suggestion is this. When we are discussing with this thing about this AGM. Kindly discuss with the Tata Chemicals also. If we are unable to do it, basically, we can market the system through our channels. Sir, another appeal to you. This is the Tata Tea and Coffee business which should minimize chemical fertilizers. Mixing chemicals to be used in our gardens that will hamper export purposes. The foreign countries may refuse to accept our products. Kindly minimize this thing. Now I will come to the points. That is page number 32, measuring our progress, financial. Return on capital employed, FY 2021-2022, 32.8% and FY 2020-2021, 34.7%. Reduced some crores of rupees. Page number 33 that is the social learning hours. In the year FY 2021, 33,511 hours spent. Unfortunately, FY 2021, 2022, 2023, 360 hours that is also reduced. Now I am coming to the provisions. Page number 313, item number 17. The non-current employee benefit that is, 2020, 2021, INR 192 crore and 2022, INR 175 crore t hat is also reduced. Current employee benefits, INR 40.93 crore. This 2022 and 2021, INR 45.32 crore. Other provisions, INR 32.28 crore and 2021, INR 56 crore. So almost total provisions, INR 248.80 crore, 2022, and 2021, INR 294 crore. So almost INR 45 crore that is reduced. I don't know what is that. Reserve and surplus, that is a major part in any organization to stand up his own feet. We have to accommodate somehow to increase the reserve and surplus. That is only INR 538 crores difference between March 2021 to March 2022. Now I'm coming the online business. Needs to be developed. More and more adoption, digital tools, so we can able to capture more and more market in India as well as abroad. This is my small suggestions to you, sir. Why we not introduce the share-based incentive or the performance bonus to our senior employees of TCPL? First thing, they will bring stronger performance of new culture in the company to be adopted and they will be more responsible to achieve our target of profit of the company. Sir, kindly think about it also, because this is my small suggestions to you. This is not actually compulsory, but think about it also. Nowadays, coming to us sir, I'm telling you this thing. Reduce price of drinking water, coffee, and other items. Perhaps you know, we have certain capacity in the market to occupy the market percentage also, in this regard. Nowadays challenge is everywhere, so we have to accept the challenge. For that challenge, we have to minimize our cost price or selling price. Kindly try to think about it also. Now, this is not last, this is my last points to you. We need more strong financial position in the company and market share to be improved day by day. For that, we have to work hard to fulfill our ambitions. Next year, definitely, I will expect that you are making always the double profit, triple profit in our Tata systems, Tata all organizations. Hats off to you for your silently working for the people of Tata Steel as well as the country. Hats off to you for your patience. Very calm and quiet you are taking the decision. We know our driven Chairman, Mr. Ratan Tata, his performance, all these things, but you are also taking the same path of our driven chairman. Hats off to you. A loyal salute to you, sir. Please, please sir, bear with the Tata company and always thinking the double profit or market sharing to be high for the future generation. God bless you. Namaskaram. God bless you. Thank you. Thank you. Ashish Kumar Pathak. Hello. Am I audible sir? Yes, you are. Very good. Very good morning respected Chairman; Mr. Natarajan Chandrasekaran, respected MD and CEO; Mr. Sunil D'Souza, board of directors, company secretary, fellow members joining at 59th AGM of Tata Consumer Products Limited. My name is Ashish Kumar Pathak, joining from Dum Dum, Kolkata. My esteemed gratitude to Company Secretary, Mr. Neelabja Chakrabarty, and secretarial team for sending me the notice of AGM and hard copy of annual report very well in advance by courier and allow me to speak. They also nicely conducted the site verification. Thanks to Mr. Gayatri Saras. Kolkata Registered Office secretarial team is excellent in cooperation to us, leading by Mr. Shiv Shankar Roy, Mr. Arghya Chatterjee. Excellent delivery from respected Chairman and respected MD and CEO. I also noted most of the valuable points about company's present financial performance, activities, product portfolios, business strategies, and domestic and overseas business developments and future strategies and roadmap. Sir, I have successfully casted the all nine resolutions mentioned in the notice. Most welcome Mr. David Crean has joined as Non-Executive Independent Director to my company on May 4th, 2022. I think my company will perform excellent business in Europe and other international market by his leadership, as well as in domestic market with strengthening in innovation and food quality and safety, and also research and development. Also, thanks to Mr. K. P. Krishnan joining as the independent director to my company. Sir, I have brief views which I like to share. I congratulate my company's management team for excellent financial performance, financial year 2022, where 11% growth in standalone revenue and also 31% growth in PBIT and PAT INR 886 crores against INR 622.20 crores previous year. Sir, members are getting dividends INR 6.05 per share which is 63% on the standalone net profit. Sir, regarding consolidated revenue from operations, it mentioned INR 12,425 crores against INR 11,602 crores previous year, 7% growth. Sir, it mentioned 9% growth in top line net of exited business. Please show some highlights about the exited net, exited business you mentioned. Sir, our capital employed, return on capital employed also decreased. We have investment in, we have also, 32. One minute. We have also 32 foreign subsidiaries and three joint ventures. Pages 200 and 239 mentioned investment in associates and JV, 208, INR 2,835.636 crore against INR 2,308.50 crore previous year. International business net sales was marginally lower compared to previous year. That is mentioned 5% lower, international beverage business 5% decreased, INR 336 crore against INR 350 crore previous year. What steps, what strategies and roadmap my company taken for enhancing international business where Canada contributed 3.3%, USA 13.2%, U.K., and Europe only 11.6%, and Middle East very low 0.3%, where Middle East has heavy demand in black tea also. In respect to Tata Starbucks, what our planning? Because we have investment INR 472.30 crore and mentioned net 268 stores across 26 cities in India. What strategies and roadmap my company taken to make it profitable? This is my view I like to share. Sir, we have also at present five plants and present capacity of utilizations and present attrition rate, if possible show some highlights. Financial year 2023 is very much more challenging, where inflation, WPI inflation 15.9% as on May 2022 and also repo rate hiking by Reserve Bank of India and that will be more because to fight against inflation. The raw materials prices is very volatile. Strategies and roadmap about in domestic business, if possible show some highlights. About cost optimization, what my company taken? I here in page 251 mentioned manufacturing contract, packaging expenses which is very higher than previous year. Freight also, which is very higher than previous years. Sir, Tea Board of India has mandated 5% of single or combined natural flavors can be added with tea leaves sold as a flavored tea. Also said addition of flavor beyond 5% shall be considered for the issuance of manufacturing registration certificates, where various flavoring agents used in tea include essential oils, crude filter, water extracts of spices and aromatic products. Tea Board advises manufacturers to minimize flavored substances to retain original quality. Aroma of leaves where they were found using less than 51% tea leaves and excessive amount of artificial flavor. We are maintaining all the specification strategies by the guidelines of Tea Board. This is my view I like to share here. Also in respect of food business, a domestic FMCG company is doing all the cooperation with farmers for obtaining good quality of fruit and food grains. Our company management team also following these strategies. This is my view, which I like to share here. Page 212. My company provides loan during financial year 2021-2022. In the independent auditor report Annexure B, subsidiary is INR 49 crore. Other ICD INR 1,234.75. Mentioned balance outstanding as on balance sheet in respect to three cases. Please possible throw some light the present status of this outstanding amount. Also, Mr. Sarab mentioned about pending dispute. This is my views. I do not repeat here because we are giving the legal fees which is INR 104.12 crore against INR 95.15 crore previous year. In page 206, this is my last question. Impairment of investment in an associate independent auditor's reporting mentioned during financial year 2021-2022, an associate has incurred significant losses and has not been able to recover increase in input costs through increased prices. That has triggered an impairment of INR 288 crore in the associate in standalone financial statements of the company. The company also engaged valuation expert to evaluate this recoverable value of the investment through sale lease assets. Present status, if possible throw some highlights about these disputes. Nothing to say more because I think my company is doing after the business of Tata Coffee for the enhanced performance and business strategies. I think my company will be more benefited with these strategies. I pray to God, everybody associate to Tata Consumer Products Limited with good health and mind. Thanking you sir. Thank you. Pooja Agarwal. Good morning, sir. Sir, can you hear me? Good morning, sir. Sir, I'm Pooja Agarwal, a proud member of Millennium Minds from Kolkata. Sir, I have two questions today. Sir, the coffee business is merged with our company and the prices of coffee is very high globally. What will be its impact on the profitability of our company? Also, sir, is the Tata Neu App helping our company to grow further? Since digitalization is the next big thing, how do you see our company use- Tamal Kumar Majumdar. Yes, sir. Okay, sir. Tamal Kumar Majumdar. Hi, sir. Is it okay? Tamal. Is it okay, sir? Yes. Can you speak? No problem. Sir, respected Chandrasekaran, sir. Mr. Sunil D'Souza, Mr. P. B. Balaji, and other directors of the company, myself, Tamal Kumar Majumdar, an equity shareholder from Kolkata. My special thanks to our beloved Company Secretary, Neelabja Chakrabarty and his dedicated team of executives like ever-smiling Shiv Shankar Roy and Arghya Chatterjee and others for sending annual report well in time and maintaining good relations with shareholders. We also welcome Mr. David Crean, Ex-VP of Corporate R&D and Chief Science Officer of $40 billion company, Mars Incorporated, as an independent director of our company. His expertise will help us in our food and other business immensely. I believe that the formidable team of him and Vikas Gupta, our R&D Head, Vikas Gupta and others will bring variety in our business in the coming years with increased dependence on R&D which is a mere 0.24% during the on net sales during the current year. I hope arrival of Mr. Crean will increase the R&D expenses of our company. Sir, the company is in a growth path with focused vision. Do you believe that the growth momentum in Indian branded business and international business will continue in the current year, and it will surpass consolidated revenue improvement of 9% and in Indian branded business of 13%, whether it will surpass the last year's figure? Sir, after exit of global food service business, how the global business is faring during the financial year 2021? 2023? Sorry. Sir, it is nice to note that by the end of financial year 2022, operations of 50-50 joint venture, Tata Starbucks, normalized. Our company made a further investment of INR 86 crore in it, making the total investment at INR 472.30 crore. It is in page 238. How do you believe it will be able to wipe out its accumulated losses and start giving us return by way of dividend, within which period? Sir, the company has 268 outlets. How many outlets they want to open during the financial year 2023? How its home delivery business is doing which they started during the lockdown period. How it is doing? Sir, during the year, company took control of Tata SmartFoodz Limited from Tata Industries at a consideration of INR 395 crore and invested INR 35.58 crore in its equity. The said company is in a very bad shape with revenue from operations was a mere INR 11.87 crore with a loss before tax of INR 82.87 crore. Its employee cost was nearly double than the revenue during the year. Sir, against an enhanced equity base of INR 498 crore, it has an accumulated loss balance of INR 233.3 crore. In addition to that, it failed to fulfill the export obligation after enjoying less duty on imports on EPCG scheme. Whether the company applied for its extension as on date and would you please share your thoughts on its turnaround? Tata Consumer Soulfull Private Limited which was taken over by the company during financial year 2021, paying INR 155.8 crore, is also losing money and it has an accumulated loss balance of INR 110 crore. It has launched new products which is available through Amazon also. What is your thinking in respect of the said company's turnaround? Is there any possibility of its merger with Tata SmartFoodz in the near future or both will act as a separate profit center? Whether it will be merged or it will remain as separate profit center. Sir, NourishCo Beverages Limited started declaring better results after snapping up its ties with PepsiCo. It booked a PBT of INR 21.15 crore during financial year 2022 after considering business support service income from TCPL of INR 25 crore for specific ready-to-drink products. Without this TCPL help, it again incur losses. It has also an accumulated loss balance of INR 149 crore. How the packaged water business did during financial year 2022. Mr. D'Souza said that it breakeven. I want to know your position in this respect as regards the water business is concerned. How much of the estimated current packaged water market of INR 118,000 crore contributed by the company in the next five years? Do you believe it will be able to liquidate accumulated loss balance within a short period of time? Sir, on October 15th 2015, Tata Chemicals announced launch of Tata Sampann Masalas. Subsequently, it was transferred to our company through a scheme of arrangement. Nearly after seven years from its launch, it has not become a formidable food player despite Tata tag in it. Mr. Sunil D'Souza in his presentation said the increase during the year as regards masala is 28% in relation to last year. After its transfer to our company, it started growing. What is your viewpoint in the respect of this vertical? When we may expect it as a profit center of our company? Sir, it is noted from page 117 that the company invested in an SPV, special purpose vehicle, with Tata Realty and Infrastructure Limited, named TRIL Constructions Limited with the sole object of real estate development of a land parcel in Bengaluru. What is the current status of the said real estate development? Whether the land parcel owned by our company or by any other subsidiaries. What is its status? Sir, it is noted from page 212 that the company provided INR 1,234 crores as intercorporate deposits to others which has an outstanding balance of INR 541 crores as on March 31, 2022. What was the contribution of interest in other income in respect of the said ICD, said intercorporate deposits during financial year 2022? What is the status of outstanding amount as on date? Sir, how Tata Neu is helping our company's business during the current year? Because our digital business mentioned during last year was 7.3%. Whether the introduction of Tata Neu as well as BigBasket will help us to increase it in a big way. It will reach double digit in the current year. It was 7.3% during the current year. Sir, during your tenure as the chairman, you took several strategic decisions like transfer of salt and spices business from Tata Chemicals to our company with a fantastic scheme beneficial to its shareholders. Transfer of food business into our company. Proposed merger of Tata Coffee with our company. Merged Mundra unit of Tata Power into it for tax benefits and better results. Turnaround Tata Communications appointing a taskmaster CEO. Sold money-guzzling mobile business. Created all-new Tata Motors demerging Tata passenger vehicle business into a separate unit and consolidated defense business under one umbrella. Launched all-in-one super app, Tata Neu April 17, 2022. These developments had a positive impact on our group and took our group in a better position with more visibility as well as increase in profitability with clear directions also in the better market cap. Mr. Sanjiv Mehta recently coined a new word. Sanjiv Mehta, Chairman/CEO of Hindustan Unilever, coined a new word. Ambition. Humility with ambition which I think is applicable to to you, sir. Sir, you have chosen a fantastic CEO, Mr. Sunil D'Souza who is taking our company into greater heights with his hands-on approach and with a clear vision and hope. I hope that the jugalbandi between you and the CEO will continue and will take our company into greater heights in the coming years. Thank you all for patient hearing. Thank you. Mr. Bimal Agarwal? Hello, can you hear me? Yes. Hello? Hello? Yes, I can hear you. Good afternoon to everyone. First of all, I thank the company secretary and his team for their excellent work. Now, I'll come to the as everyone has asked that, my question was already asked by some of the shareholder, I got nothing to say. Only one thing I have to say, like, you all have a gift card, no? It should be valid in all the Tata stores. Why only, like, Trent coupon is valid in Trent and the Croma coupon is valid in Croma. It should be valid in all the stores t hat's my differing. Thank you for, sir. Last year I had spoken regarding that signature deposit. At least you all have simplified by the process that you have to only take that signature from the bank verification. That's all from me. Thank you very much. Thank you. Vasudeva Ramaswamy? Good afternoon, sir. Good afternoon, sir. Am I audible? Yeah. I'm Vasudeva Ramaswamy, speaking from Delhi, sir. How are you, sir? Chandrasekaran, sir. Thank you. I'm fine. Uh- Thank you. Good afternoon, Sir Sunil D'Souza. Congratulations to the team under your leadership, sir. We are in the top 10 FMCG company, sir. What is our plan to at least become in the top five and to the top one, sir? We have a basic next point, sir. Talking about our portfolio expansion and inorganic acquisition. We have got around INR 2,500 crores cash with us, sir. Keeping this in view, what is your allocation for the CapEx for this financial year? You know, our budget for organic and inorganic expansion in this financial year and, you know, way ahead. Sir, we are, you know, number two in tea brand for quite long number of years, sir. When are we going to be number one? Sir, our market share is 22.23%. If you can see the, you know, commercials, etc., they are doing good. If we give a more, one more push, it will be number one very soon, sir. You know, all the very best to the team. Thanks to Mr. Neelabja for this smooth meeting and also the very fine internet available. Thank you very much, sir. All the very best for the future endeavors, sir. Congratulations to you all. Thank you. Mr. Biswendra Kundu? Mr. Biswendra Kundu? Yes. Can you hear me? Hello? Yeah. Yeah, respected Chairman, Mr. Chandrasekaran, members of the board, fellow online shareholder, and friends, I am Biswendra Kundu. At the outset, I would like to thank the management for steady progress of the company year after year. According to Stock Coffee, the report presented to us has been very nicely prepared with exhaustive details and I have nothing further to say on it. We, the shareholder, are very happy to see that you have declared very good dividend that is 605% per share. It means that you have increased 200% dividend this year. I have seen your balance sheet very minutely that our TCPL is performing very well in all sectors. I salute your marketing team. They are very seriously performed. Of course, it's the teamwork but I should mention one person name, that is Mr. Ankit Gupta, Senior Brand Manager, Packed Beverage in Indian market. Sir, I have one specific question. What is your roadmap next three-four years? Sir, everybody asks regarding bonus. Sir, this is my humble request to you. Don't declare any bonus because bonus itself a liability. Sir, I myself and my wife holding 1,200 share, I will benefited. This is my humble request to you. Don't declare any bonus share. Bonus itself liability. You have to maintain dividend. You have to maintain the price. Before I close, I convey my sincere thanks to the entire secretarial team, particularly Mr. Prabal Mahapatra, Legal, and Mr. Neelabja Chakrabarty. With this observation, I am closing here. We thank you all. Thank you. Mr. Amit Kumar Banerjee. Hello. Yes. I think I'm audible now. Good morning everyone, r espected chairman of the meeting, board members, myself, Amit Kumar Banerjee from city of Kolkata. Thank you for giving me an opportunity to speak such a beautiful occasion, 59th Tata Consumer Products Limited. First of all, I thank to the team members for presenting us such a wonderful meeting, wonderful balance sheet during the year ending March 31st, 2022. As regards the performance is concerned, yes, it is very nice. Good growth, strong financial performance, reflecting total revenue growth about 11%. Profit after tax in the tune of around INR 886 crore about 43% higher than previous year in standalone. Book value is also very good, 127.39 from 121.56. Market price is also very good, 733.70. Dividend is also very good, 6.05% at the rate of INR 1 per share. CSR activities also very nice, a bout INR 13.54 spent during this year. I hope our company will perform much better profitability in near future and will expand into a new high. Sustainability of the operating performance and will be able to maintain relevant technology, quality of products, and definitely will expand our company into a new high. Keeping in mind the benefit of minority shareholders. Sir, what is your key challenges? About merger with the Tata Coffee. Kindly share your views about capital expenditure plan for the next two years. Sir, situation permits, try to organize AGM meeting by both physical and VC simultaneously, as recently done by Kesoram Industries. It is much. It is a great success. Much appreciated to the shareholders also. Yes, being shareholders, kindly consider bonus issues. Last, I thank also to our Company S ecretary, Mr. Neelabja Chakrabarty, who is well experienced maintaining good, cordial relationship, and his secretarial team also at Kolkata, Mr. Shiv Shankar Roy, Avak Chatterjee, also are very cordial, try to resolve the issues as and when required. I thank to other team members conducting such a beautiful, smooth meeting through VC today. Thank you, Mr. Chairman. I am Amit Kumar Banerjee. Over to you, sir, for further proceedings. Thank you. Thank you. Mr. Amit Gowda? Sir, Mr. Gowda hasn't logged in, sir. We could move on to the next speaker. Mr. Alok Kumar Pal. Alok Kumar Pal. Sir, Alok Kumar Pal, sir, appears to be a techni- Hello. Connectivity issue. Yes. Yes, I am audible? audible? Yes, yes. Hello, sir. Yes, please. Okay. Myself Alok Kumar Pal from Calcutta. First, I express my sincere gratitude to our C ompany Secretary, Mr. N. Chakrabarty. Also, I express gratitude our secretarial member of Calcutta, Mr. Shiv Shankar Roy, for his remarkable investor service throughout the year. I also thanks to our board of director for stellar performance, higher dividend. Hope this will continue next year also. Now, I have some specific question. First, do you think the company is capital efficient? Second, how would you define the future that Tata Consumer Products beholds? Third, what is the strategic steps to achieve the targeted growth? Fourth, how important is your human capital in your aspiration to take the company to greater heights? Fifth, what is the next phase of organizational development for our company? Sixth, how are you reducing your environmental footprint? Seventh, what is your CapEx plan for modernization, expansion, and diversification plan? Have you got all types ISO certification for running the business? Also, sir, I'd like to know what is the fee of cost audit. What is the secretarial audit fee? What is the expense of AGM and AGM related? What is the fee of registrar and transfer agent? Thank you sir, for giving me a patient hearing. Mr. Aspi Bhesania. Chairman sir, can you see me and hear me? I can hear you, but not yet see you, yeah, I can. Okay. Sir, I congratulate the management on quite good results in spite of all the hurdles coming in our way. Earlier, we, Tata Global Beverages used to make Himalayan Natural Mineral Water. What happened to that? Now that's not visible anywhere. Sir, then our company is silent as to how much unpaid dividend has been transferred to IEPF? See, Infosys transfers every year INR 2 crore to IEPF, INR 2 crore of shareholders' money is transferred to IEPF which is just too much. In future, in annual reports of our company, I would like you to mention year-wise how much is unpaid dividend? Example, dividend for March 2016, how much was unpaid in March 2017, March 2018, March 2019, March 2020, and so on? That everybody, including the chairman of the audit committee, can question the company secretary and the registrar as to what is being done to pay the shareholders. This will reveal the efficiency not only of the share department but also of the RTA. Now, there is oligopoly in RTAs, so the company doesn't have more options but to go only for between the two of them. The company has to go either to A or to B. I would prefer Tata Group have its own share department like earlier. We had Tata share department at Army and Navy Building. I'm sure they will give better service to the shareholders. At present, the RTA sends reminder letters to the shareholders about unpaid dividend and thinks our job is over. When the shareholder tries to claim the unpaid dividend, he is harassed. Bring this, bring that. I'm talking from my own experience of trying to claim unpaid dividends. I've stopped even trying to claim unclaimed dividends due to harassment. Please ensure that the unpaid dividend is taken care of every year. What is the roadmap for the next two, three years, if you can highlight that also? Sir thank you very much and all the best for the future. Sharad Kumar Shah. Can you hear me sir? Yes, I can. Can you see me now? Can you see me sir? Yes, I can see you. Okay. Now, I have already sent an email but I'll just read all the points. Sir, I'm very happy with the company because it is a wealth creator company for all shareholders. From 1996 to 2022, in 26 years, it is appreciated by 170 x and it is more or less like Asian Paints. Only thing is this, that in balance sheet, equity history is missing. So if you can include this, that will be much better. Next thing is that company secretary. Her service is excellent. It is a Calcutta company. I never talk in this company b ut she has sent me hard copy. She has arranged speaker registration, site verification. What I expect, I expect this service already there from TCS and Tata Steel but not from all other balance companies and which is missing. They should look into this fact that regular speakers, at least they should give a good service. I refer, sir, page seven and I'm happy to note that page seven says that we have got 8 lakh employees worldwide. It means this figure is bigger than TCS. It shows me that the company is not only wealth creator but employment creator also. Sir, attrition rate is not appear in the balance sheet if you can guide on that issue. Page 32 say our revenue is INR 12,000 crore up. Basically you are talking about you want to make company FMCG. I'm not keen on making it FMCG but what I'm looking here is that my revenue is INR 4,422 crore and food and refreshment business of HUL is INR 14,425 crore. We are very close to FMCG food business, HUL business. Try to see that how we can cross at least food business of HUL. What I feel personally that you can get lot of people from HUL who have got expertise in this and at least cross food business and then we'll start thinking of FMCG. Sir, I look page number 63. We have got 10,000 distributors. When a company has got such a good marketing team, why not use all this team for marketing of all company's products, information, anything worldwide for Tata Group, and that will be very easy for us? What I look here, the page number 183. Sir, our P/E ratio is 80 and if you just see share price, this financial year it is totally stagnant. Because, see, because it is, earnings per share is INR 10 and the price is around INR 725, INR 750 or so. My suggestion is that how we can overcome this, it is only to make more profit, to make more EPS, so that we can cross HUL revenue in food products, and otherwise also we can go for buyback. Once the buyback is over then we can have an IPO also. Once I look into page number 281, it is a consolidated profit and loss share page. The employment cost in consolidated is INR 1,048 crore. If I see standalone profit and loss employment cost is only INR 348 crores. Somehow it is in consolidated increased by INR 700 crores? My PAT is INR 1,015 crores in consolidated. What it gives me figure that we run company for employment and not for profit. This figure. See this conclusion or impression for TCS it is okay that the cost of employment is higher than the profit because the raw material is employed. But that is not the case with Tata Consumer Products. Definitely you should look into this. Say, if standalone it is 348 and consolidated is 1,048 and it is close to the PAT of the company, definitely it is something wrong with the company. Please look into it. Sir, another thing what I feel that among the Tata Group companies, the company which gives me best return is Tata Steel, which is price is INR 868.51, and our consumer company is INR 726 today, gives me only INR 6. The best company is only Tata Steel. Sir, my last point is only thing that I will visit Tata Starbucks store, our first store in the world in Seattle in July. Thank you very much for giving me opportunity for speaking. Thank you very much. Mr. Anil Kumar Parekh. Hello? Hello. Yes. Sir, am I audible? Yeah, you are. Am I visible, sir? Chairman sir. Yeah, you are visible. You are visible. Chairman sir, board of directors and fellow shareholders. Sir, I'm Anil Kumar Parekh here from Bombay. First of all, good afternoon to you all. Hope that everybody is safe and sound at respective end. Chairman sir, I would like to thank our Company Secretary, Mr. Neelabja Chakrabarty and his entire team for extending very good investor service, and I'm really satisfied with their cooperation wherever needed. Chairman sir, everybody has said a lot about company financial performance, this, that. I will not take much of your time but some of the questions I would like to ask you. Before that, Chairman sir, excellent performance as every time you are performing. After you have taken charge as a chairman, company is flourishing. Chairman sir, you are more congratulated. Chairman sir, my question is. We have made investment in TRIL Constructions. We have extended our stake from 48% to 80%. I would like to have your views that what is the company will do in this TRIL Constructions? It is mentioned that we have a land parcel in Bangalore, so what is the activity we would like to do there? Sir, also c ompany has three unlisted material subsidiaries. That is Tata Consumer Products GB, Tata Consumer Products UK, and Eight O'Clock Coffee Company Limited. Sir, I would like to have your views on those companies, what are their activities and how it will part contribute to the balance sheet? Sir, many congratulations for turning Tata Starbucks from huge losses to 76% declined losses significantly this year. Sir, you are-h ats off to you and your team. Sir, I don't have much questions to ask. These are the questions. Thank you for patient hearing. Once again, thanks for CS team. Thank you, sir. Thank you. Miss Akansha Gupta. Good morning sir. Good morning. Good morning. Yeah. Sir, I am Akansha Gupta from Calcutta. I'm a Millennium Minds member and a proud shareholder. Sir, I would like to ask you, what will be the growth model for our company? We would like to understand the vision and visibility both. Do you plan any takeovers, since Mr. D'Souza had mentioned it? No, it is not easy to make takeovers in an FMCG industry. Also, how do you plan to make the company more visible like in IPL or in another sports event? Thank you, sir. Thank you. Mr. Mahesh Kumar Bubna. Hello, sir. Good morning. Chairman sir, good morning. Good morning. Sir, first of all, congratulate to the chairman, board of directors, company secretary, CFO, other dignitaries on the dais, as well as my colleague shareholder, who has spared their valuable time to join this AGM. Sir, this is the 59th annual general meeting of the company. This Tata Consumer Products Limited started with the name of Tata-Finlay. I joined the Tata-Finlay AGM. I remember in 1982 when Darbari Seth was the Chairman of the company. My speech was also in 1982 in the Tata-Finlay AGM. I am not a new shareholder. I am a very oldest shareholder in this company. Sir, you had enhanced our product range by adding lot of transferring our product from Tata Chemicals and a joint venture with foreign partners, etc. One thing I want to tell you that what is the benefit we are achieving from all this capital expenditure? It must be properly scrutinized, assessed, and it must be to the benefit of the shareholders. Sir, one thing, I would suggest, another shareholder also suggested you that it is a FMCG company. We are saying that it is a FMCG company. In FMCG company, entire range, one shareholder has also clarified that so many FMCG product you are not having. Only we having only the food and beverage division of the FMCG. Why we will not change the name of this company to Tata Foods and Beverages Limited? The name of the company will reflect itself that what nature of business we are doing. Sir, one suggestion to you that in your chairman statement and MD statement, there was no date mentioned. No year, no date was mentioned. Must have a date so that people can understand that you had given the statement for this date, for this year. This is my suggestion to you. Sir, one thing, I will not take much more time because I discussed with our Company Secretary, Neelabja Chakrabarty. He interacted with me. He is a very nice fellow, young, energetic. I know him for long back. When Mr. Madan was Company sSecretary, he was assistant to him. Now he is the company secretary. Your earnings per share is INR 9.61. You are from the stand-alone this financial highlight you have given. From there I am telling you dividend you are going to pay INR 4.50. This year dividend is also taxable in the hands of the shareholder. If you less the dividend then it will come less than the INR 4.50. Last year the dividend payout was INR 2.70. It has enhanced. One thing I am very much remarking about the FMCG other companies. Hindustan Unilever this year three days back their AGM held. They had paid out of INR 37.53 earnings per share INR 34 per share they had divided to the shareholder as a dividend. Much higher. Their capital is INR 256 crore only. When we can able to compete with Hindustan Unilever in FMCG companies? We must have to compete with the other FMCG company. Hello? May I be audible and visible? Okay. Sir, one thing that we had paid a lot of money to Tetley for our joint venture but till date, we had not received any benefit from the Tetley. Again, we are going to make the joint venture which is also in loss. I know very much personally that these American two companies, Starbucks in U.S., every quarter, everywhere, Starbucks with their own showrooms. They never give you the benefit worldwide. These are the American company never try to give benefit to the other company. You must be aware that our money should be safe. One thing I want to tell you, I will not take much more time but my two, three questions you have to listen. On page number 186, you have given the distribution of shareholding pattern. Our promoter holding is 34.68%, and individual is 21.63%, and foreign portfolio investor is 25.34%. Why you are not increasing the public shareholding as per the ministry guideline that minimum 25%, the shareholding in the public category? You have to enhance. My suggestion that promoter shareholding also must be enhanced to 51% so that the promoter should not be losing any day in future, for this handicap. Sir, one thing, because the foreign portfolio already achieve 34%, 25%. Regarding this you are given the corporate governance report, where you are given the data of the stock market of our company's stocks? Where you are given only the BSE and NSE data? While we having four exchanges listing, Luxembourg and London Stock Exchange. Why you are not giving the data on these two exchanges so that we Indian people can also able to access this data and we can able to see that how the international stock exchange reacting to our scrip? Both exchanges data should also be given in the corporate governance report. If we having the so many committee meetings, audit committee, remuneration committee, et c.. When you talk shareholders committee, why the committee member are not coming directly throughout the year to interact with the shareholder by providing their direct mobile number so that even our MD is also the committee member of the shareholder committee. I tried lot of time to your Bombay office. I want to speak to our MD. Since last year, before the last AGM, his secretary Rashmi Shetty assured me that we will inform to MD but till date, I did not interact with the MD. Only in the AGM, chairman is coming. While they are the KMP of the company under Section 203 of the Companies Act, 2013, they are totally MD is also the whole ground responsible for the company instead of the chairman. Because chairman is independent director and the MD is responsible. He must come to interact with the shareholder whenever shareholder are approaching to him. This is my humble request to tell the board that shareholder are the valuable part of our industry and we must have to interact with them throughout the year when they want to speak to us. MD is also the shareholder committee meeting, so he is also responsible to speak to the shareholders. It is not only the decoration that we will have to decorate the annual report and to just give the data. This meeting has held. Thank you sir. Your point is noted sir. Just a minute. This is a very analyzed annual report you have given. I did not because due to my ill health, I could not able to go through 374 pages, 110 pages for the this director report, management discussion. So many you have given the photograph, very nice. But one thing I am telling you, to curtail the cost so that we can also have to save. Because I've seen that a lot of products have been repeatedly given over there. So what is the necessity to give the-i n a nutshell, like Hindustan Unilever, they are giving two pages, all the products category-wise, they are displayed over there in the annual report. So save lot of money for this cost of the annual report. I will not take much more time. I'm thanking you for having a good relationship with the shareholders by our company secretary. Thank you. Thank you for presenting. Thank you. Mr. Anindya Sundar Ray. Hello. Good morning, r espected chairman of the meeting, board of directors, employees of the company. I don't say, sir, employees of the company, the mercenaries of the company, and all my fellow shareholders and our Company Secretary, Mr. Neelabja Chakrabarty, and Webex, all the way, the Webex team under the supervision of Ms. Marlene de Mello and Trevor Fernandez. For without their effort, I could not be able to speak to this AGM. Sir, I am with two of our, I mean, mercenaries at the Bishop Lefroy Road, Mr. Sri S.S. Roy and Mr. Arghya Chatterjee without whom I couldn't make it to this AGM, sir. Sir, I have only one request. Since Himalayan, it is, when I speak the name then all the good vibes come in my body, in my psyche, in my psychology. Sir, this is to my worry that this brand is not affordable for the consumer like me. Sir, could it be possible to make it affordable for within a some pouch recyclable 500 ml or 1000 ml pouch packet in local market so that that way we could be more helpful to consume one more thing of Tata Consumer Products as a consumer. Sir, when I speak at this AG then the references of other company or the Tata Group of companies come into essence. Why I say this, sir, just allow me 10 seconds to sing a song. Why I sing this song, you just all know after. It is a very renowned song sang by Elvis Presley and then after Andy Williams and Andrea Bocelli. This song is: Wise men say, "Only fools rush in. I can't help falling in love with you." Why I say sing this song? Just because once love created by our J.R.D., it went and this creation went out of the hand of him. After enduring patience, I mean with wise man's advice, that the same thing came back to this Tata Group of companies. With the, I mean, suitable successor as our Ratan Tata, t his is Air India. The nation rejoices as well as every Indian rejoices. Those who once, those parents who once knew about the love and the creation of J.R.D., sir. Somebody said to me that when you are talking to Tata Consumer Products Limited, why you just give reference of other units of the company? I said, I just look at his face and I said to him, I ask him, "Can you just give a speech or talk to somebody just moving your only two lips and without moving your fingers, body or hands or giving any gesture? Is that possible?" He just gave a large look to me, I said, "Tata Group of companies is a like a human body, whole human body. If you would like to talk to some other company, then references of other companies come automatic." This is in form of some, moving of your fingers, of your gestures of your hands like that, a heads like that. Sir, I read last week in a local newspaper some foreign national, he just leave a message and complimented that if Tata, Ratan Tata cannot revive Air India, nobody does. It is in good hand. To his compliment, I would add a few words more. It is not only in good hand, it is in the best hand. Sir, I just compliment you all for all because Tata Group of companies doesn't leave any chance to anybody to ask any complaint, I mean, question about their efforts in online or offline for the online production or offline production of any product. They only deserve the compliments. I compliment everybody and I say wholeheartedly, you all welcome one. Sir, I just mention also Mr. S.S. Roy, who just injected me into this because it was not possible for me to attend this meeting without himself. He and his colleague, Mr. Arghya Chatterjee, they are, sir, most decent, most good persons. I wish them well and you all, sir, all a big salute and all good for the coming years. I would be able to speak something more in the next year at the AGM. Stay a while. Stay well, sir, with your family, and rejoice. Let us rejoice in this company as a member. Thank you sir. Thank you. Mr. Shailesh Mahadevia Respected chairman, distinguished directors, and all the members of the company. Sir, congratulations to the company for excellent integrated report with your assurance statement as a chairman of our FMCG company which is coming up for the last two years. The question and answer session given by MD and wealth of information throughout the report and your particular emphasis throughout on the principles of sustainability and the wellness of the society. I appreciate the assistance of the secretarial department. Sir, having said all this, I wish to put some questions with a view to increase my understanding and appreciation of the good work being done by the company. Sir, my first question is that we are producing five varieties of salts. One is for general use, one is for people suffering from low blood pressure. Sir, may I know what are the specific uses for the remaining three varieties of salts? Sir, my second question is regarding the staple food of India. We are trying to emphasize all the foods through our Sampann organization. Sir, the real food of India is ragi and not wheat or rice. Sir, I would like to know whether we are giving sufficient information or sufficient emphasis in our business to bring in ragi as the main staple food of the people in India. Sir, we have done some research work on the subject and I will submit my papers to our office in Bombay for whatever use they will make of it. Sir, my third question is regarding our tea business. Sir, many years ago, maybe even now also, we had an excellent tea center in London and it was a place of attraction for Londoners all the time. Sir, in India, just as we have Starbucks stalls at various places, I would request that at least we should have tea center in principal towns of India, like Mumbai. We have one tea center at Churchgate run by the Tea Board. Actually, it has been given out to some private company for running it as a business. Sir, we should make an effort to approach the Tea Board and take the license for running a tea center in Mumbai with immediate effect. Sir, that will give us benefit of enjoying different varieties of teas which are being made by our company. Sir, in particular, I would like to know is whether we are making white tea which is being used by Queen of England and the Queen of Japan, to say the most eminent people. Sir, my next question is regarding Starbucks coffee. Sir, one information which has gone viral on the social media that you buy Starbucks of any quantity, small cup, medium cup, or large cup, the quantity of coffee used remains the same, although we are given it as in three different sizes. Sir, I was surprised to know this but I realized a comparative example of koi fish or koi fish of Japan which makes its size according to the space available. If the fish is put in a small place that will be the size of the fish. If the container is larger, the size of the fish will increase and accordingly. Is our coffee something on those lines? Sir, then my next question is, regarding all Tata Company offices and all other official centers should offer only the Himalayan water. Sir, even the glass which we see in front of us, which you are using, and the bottle which you have, I wonder whether you are sipping Himalayan water. Sir, if not, each and every person of Tata Group, as a rule and compulsion, should use and offer only the Himalayan water. Sir, then my next question is regarding the EVA of our company. Sir, I am sure our EVA must be positive, and if you can share that information and the rate of interest at which is it has been asserting. Sir, my last question, which is of universal importance and certainly on the principle of sustainability that the Earth itself has become weak or Earth itself requires richness. The richness of the earth, if it is increased only by addition of fertilizer like NPK, etc., it is not going to give us real richness of the earth. We may get larger production but not the real vitamins which the people deserve and should have. So, sir, what is required is to introduce live microbes in the earth? This may be a long-term project but it is in the interest of the society at large and for national as well as of international importance. Sadhguru of Coimbatore, Jaggi Vasudev, has been working on this project for the last several days, and he has visited many countries of Europe with the same message. Sir, are we also thinking on these lines? Sir, with this, I wish your organization all success, which is our way of life in any case. Thank you very much for giving me the opportunity to speak. Thank you. Ms. Prakashini Shenoy? Hello. Yes. Can you hear me, sir? I'm Prakashini Ganesha Shenoy from Bombay. Chandrasekaran, sir. Yeah, I can. Vanakkam. I can hear you. Vanakkam. Namaskara. Respected honorable Chairman; Sri Natarajan Chandrasekaran Ji, other dignitaries on the board, and my fellow shareholders, good afternoon to all of you. I received the annual report well in time which is colorful, transparent, informative, and contains all the information as per the corporate governance. I thank the company secretary and his team for the same. I should not forget to thank once again Ms. Gayathri for giving me the link and just now phoning me and telling me that my turn has come for the next. I once again thank Ms. Gayathri for your good deeds to me. I'm glad that the chairman has given an excellent explanation regarding all the aspects of the company. Sir, I'm thankful to the board for recommending dividend at the rate 6.05% for the financial year 2021/2022. I'm very proud that the company has done excellent work in respect of CSR activities. I thank one and all staff for getting number of awards for the financial year 2021/2022 which shows their hard work and sincerity. Sir, I have few questions. What is the roadmap for the next five years? What is the market cap? Since the plastic used for packaging our products, what alternative have we due to the government's regulations to ban pla- Yes, ma'am. If yes, what is the rate? This is not the last but the least. We should not forget that our future of our company means we have a person, intelligent, all-rounder, transparent, none other than Natarajan Chandrasekaran, Chairman of the company. I wish the company good luck for a bright future and pray, God, that the profit of the company shall reach peak in due course. Sir, I strongly and wholeheartedly support all the resolutions put forth in today's meeting. Thank you, sir. Thank you. Mr. Nalin Shah. Am I audible, sir? Yeah, you are. Yes, sir. A lot of my points have been covered, so I won't take more than the requisite time. Sir, just to straightaway come to the point, when I compare, you know, Tata Consumer with likes of other FMCG companies, you know, Dabur, ITC, and so on and so forth. When I just compare on the face of it, you know, I find that our a lot of places we are very high in the expenses purely in the P&L front. That is the prime reason, you know, our profitability is only made at a bit less than 9% as against, you know, anything in the range of, you know, 11%-20%, 25% kind of a range in the other FMCG companies. Can you just help us out, you know, where in future we'll be able to contain the expenses and, you know, we'll be able to, you know, at least thrust on the margins. Second thing, when, you know, we go through your latest presentation, we find out that over last two-three years, though our, you know, CAGR is really decent enough for our FMCG companies but we have de-grown on practically all the fronts in FY 2022. Whereas FY 2022 was basically a turnaround year for a lot of companies where they have posted really good numbers. Just want to understand how we'll perform in the current financial year, that is FY 2023 and what is the management strategy to go forward in 2023, 2024, 2025, and so on, so forth. Sir, we are shareholders in the company, we support you on all the fronts. But just, you know, these margin points are creating a bit of a hindrance as an investor. I won't take much of your time. Just one request, sir. Tomorrow we have Tata Steel AGM also. Just try to keep it very concise in the timeline, you know, to 2 to 3 minutes per participant. Everyone can ask the questions and everyone can cover it. That's it all from my side. Best of luck sir and hope to see you soon in person next year. Again, thank you so much for the opportunity, sir. Thank you so much. Have a good day. Thank you. Ms. Vasudha Dakwe. Hello. Hello, can you hear me, sir? Yeah. Very good afternoon, respected chairman sir, board of directors, and my fellow shareholders. Myself, Vasudha Dakwe from Thane. I would like to congratulate our company secretary for sending me the soft copy of the report well in advance, which itself is clear and- Yeah. most of the question was asked by my previous shareholders. I don't want to take up much time. Only one suggestion. Please look into the matter of shareholders' unclaimed dividend, which is going to IEPF fund, which is the hard-earned money of the minority shareholders. With this, I support all the resolutions. Thank you very much and wish the company all the best for the coming financial year. Thank you, sir. Mr. Mascarenhas. Hello, can you Yeah. Can you hear me? Yes. Mr. Mascarenhas will talk first. Hello. Can I talk, sir? Yeah, please. Sir, am I audible? You are. Yeah. Respected chairman sir, very distinguished members of the board, and my fellow shareholders, good afternoon to you all. My name is Aloysius Mascarenhas. At the outset, I thank the management, our company secretary and his team, and the registrar for sending me the balance sheet which I received on time. It is full of knowledge, simple, exhaustive, informative, transparent, and above all, adhering to all the parameters required for a good corporate governance. Our results are excellent, as shown in facts and figures, and a handsome dividend of 605%. Very good. Keep it up, sir. You have explicitly explained in a nutshell in page number 112 the t10-year financial highlights, the financial progress of our company. Our PBT, PAT, EPS, book value, and earnings per share, ROC, everything is shown on page number 112, which gives us a glimpse of the financial progress of our company. On the annual report, you have shown us the pictures of our products. Really good. Sir, how many products have been launched this year, and how many new products are going to be launched in the next year? I would like to know, sir. And more importantly, what is our market share in the products, both nationally and internationally, percentage-wise? Sir, we are in the midst of war, Ukraine war and Russia, so I would like to know how it has impacted. Ours is an export-oriented company, so the U.S. dollar and rupee. Where the U.S. dollar is getting stronger day by day and the rupee is becoming weaker day by day. What is the impact of this rupee-dollar fluctuation on our profitability? Sir, many questions have been asked. I would not like to ask further question. My wife is there next to me. She will ask further question. With this, sir, I thank you very much for patiently hearing. Thank you. Good luck. Respected Chairman; Mr. Natarajan Chandrasekaran, MD and CEO; Sunil D'Souza, other board members, and my fellow shareholders in this VC. I am speaking from Mumbai, Mrs. C. Mascarenhas. First of all, I thank the company secretary and her team for sending me e-annual report and registering me as a speaker at my request. Thank you very much. About the report my husband has said, I find very good awards and accolades which are given, documented from 18 to 19 page. Also, good CSR work, all documented in our report. I would like to know here that ESG, any rating is done, and if so, by which agency and what is the rating? Now my queries. I straight come to the queries. In which product or products we enjoy the highest margin, market share, and which of the products our future demand will rise? Number two, do we face logistic bottlenecks, supply chain disturbances, and the rising crude oil prices on our products? Number three, what is the percentage of the total sales in online? Four, how many total Starbucks outlets we have? How many are owned and how many are leased? We have any more acquisition like Café Coffee Day outlets for inorganic growth? Can you just throw some light on that? Five, what is the CapEx for the next three years for funding organic and inorganic growth? Of course, we are sitting with a very good cash. Sir, we are not in biscuits at all. Could you just throw some light on that? I am very much impressed with the Tata Copper Water. Of course, I have not gone to store and I don't know what it is priced. Have you valued the Tata Tea brand, and what is the valuation? I support all the resolutions. I am very happy. One more, you know, unclaimed dividend, please you help us to get it, and plus that we don't lose our shares. Now, the new thing, sir, you are at the helm of. See, at least we should not lose our hard-earned shares which there is a SEBI thing that they will take our shares also to the investor fund and then we have to go apply and all that. Lot of hassle. Please, at this age, it is too much. We are 70+. You must take care of we small shareholders. Lastly, I support all the resolutions. I know Tata Consumer Products is committed to deliver and delight. With this, thank you. Wishing you all the good health, all the full team, and may God bless our company and bless the Tata Consumer Products team. Thank you so much once again. Atanu Saha. I am audible, sir? Yeah. Yes. Yes, you are. Good afternoon, sir. I am Atanu Saha, a small Shareholder of Tata Consumer Products Limited. My respected Chairman, the Chandrasekaran Ji, and CEO and board of directors and company secretary and CFO and all respected shareholders present in this meeting, sir. A special thanks to our secretary department that they connected before meeting. Just thanks to them. Also our thanks to our Puneet Das, who awarded as the Most Influential Chief Marketing Officer 2022 by Forbes. Sir, my first question is already so many person informed but sir, how about strengthening production capacity? Sir, the percentage of renewable energy used, sir. The shares, how many shares and unpaid dividends, sir, this returned back from the Investor Education and Protection Fund this year. Sir, currency is fluctuating sir, and it's U.S. dollar. Sir, is it tempering our profit margin, sir? Sir, we believe, sir, the virtual mode and physical mode both boosting our bond with shareholder connection, sir. In this regard, I wish to, sir, quoting our father of industry, Jamsetji Tata, speech. In an enterprise, the community is not just another stakeholder in business but is in fact the very purpose of its existence, sir. Do you highlight something about the subsidiary companies and their performance and research and development, R&D? Sir, what are the assets invested in, what policy, sir? Do you expect, sir, a bonus issue in the near future, sir? Sir, I humbly request, sir, our company meeting upload to YouTube, everybody will be benefited, sir, if possible, sir. Thanks to a good year ahead, sir with good health and good tidings to everybody, sir. Have a great day. Thank you. Jaspal Chopra. Hello? Yes. Hello. Am I audible? Yes, you are. Am I visible? No. Anyhow, I am speaking, sir. I'm Jaspal Chopra, calling from Delhi. I'm a Shareholder of the company, holding around 2,733 shares in three folios and I'm holding shares in almost all the Tata companies since 1980. I have got a great regard for Jamsetji and Ratan Ji and now you are our hero. If you remember, the last year in the AGM of Tata Steel, I had said that the government must award Bharat Ratna to late Jamsetji and Ratan Ji and all those people who have built the what you call pillars of the economy of our country. This year you have been awarded that honor. I'm very happy, and I congratulate you, sir. You have. This is a very deserved award you have got and I am proud of that. I am proud of Mr. Sunil D'Souza Ji also because he has given an exhaustive speech because he has left nothing to ask for that, because he has just given a detailed presentation. You know? I am very, very happy with the team for that even for the performance of our director of finance, Mr. L. Krishna Kumar Ji. You see the performance of the company is all-round best because there is all-round growth in revenue, total income, PBT, PAT, EPS, and dividend. Sir, your company is investor-friendly, and we are very, very much proud of that, sir. Sir, my query over here is that out of the total earning, just 25% is in the foreign exchange. Of the 25%, more than 24% is from USA and U.K. and Europe. The other countries in which we have just taken entry in Australia, Middle East and Africa, why should not we now concentrate on those in those cities? Why should not we hire the celebrities of those cities and expose our products and because the earning in foreign exchange there is far more valuable than the earning in our local currency. I would like, because that is another indirect effect. The indirect effect is that when those foreigners consume products, they know the name of Tata. They know the name of India. They know the name of Jai Modi. That is a very very big service that you are doing it by entering into the foreign market. Sir, I must congratulate our corporate governance. That is just of a high caliber, because I got registered on 23rd, on 24th I asked for a balance sheet and on 25th morning I got it. I must compliment our company secretary that she has done the fantastic job. I must thank Madam Gayatri, who has been just helping me out in conducting this meeting because I'm over here for more than around three hours since 10 A.M. and my number was 37. This was my patience has been tested and that is with the cooperation of that lady that I have been over there, sir. Sir, under corporate governance, I have got to honor two queries. The first query is that regarding that unpaid dividend, whatever has been spoken by my earlier person, please, just look into that matter because that is our money and that our money should not go to the government fund unnecessarily. If there's anything in line in the name of any shareholder, it, they should be communicated. So that is one of my pleas. The second thing is that, sir, I'm a shareholder with a big or small portfolio, and I'm calling from Delhi. Just telling you, confessing the truth that so far I have not tasted any product of my own company, whereas I say that I am a co-partner of the company. I would like to make a request that the company must send a small hamper of all the products, those sample products because at least I must know the taste of our company as to what the products we are marketing to others and all that. Because being a shareholder and being a co-partner of the company, we must also have a taste of all that. The third thing I would like to say is that over here, 90% speakers are from Calcutta, and of that, 5% has just taken more than one hour. If there's a limit of three minutes, please mark those persons, and in your next coming meeting, let those persons should be either put it at the end of the show, or they should be asked to ask their queries in writing by mail, because they cannot afford to take our precious time. Because our meeting started at 10 and now it is more than one, and still it has to go and then you have to give the reply. Please just look into that matter. Before I close, I must wish you good luck. Best of luck to all from the top to the bottom. Particularly, I must thank the corporate governance and our moderator for getting me a chance to express myself. Thank you, sir. Best of luck. Sir Kamal Kishore Jawa. Sir, मेरा आवाज़ आ रहा है sir? Hello. क्या है? Okay, thank you, sir. हमारे Chairman sir और हमारे Sunil D'Souza MD, Managing Director को मेरा नमस्कार। मैं Hyderabad, Telangana से बोल रहा हूं sir मैं सबसे पहले बात करता हूं, ये meeting मैं first meeting attend हो रहा हूं। इससे पहले मुझे मौका नहीं मिला था last year से तो आज मुझे मौका मिला है, कम से कम अभी तक net तक जा रहा हूं। मेरा net कम होता नहीं तो आ रहा, पर मैं बोला आज तो बात करना ही चाहिए। बड़े साहब, केंद्रीय साहब से। आपकी मुलाकात साहब मेरे को Hyderabad, Telangana में जब CMC merge हुआ T-Series में, जब आपसे मेरा मुलाकात हुआ था, आपको याद होगा कि CMC के time पे। तो sir, मैं ज्यादा बोलना नहीं चाहता हूं। Thirty six members और इसमें दो तीन question मेरे को पूछना था। मैं वो second repeat नहीं करना चाहता। और एक बात है sir, मेरे पास Tata Coffee के जब Asian Coffee, Tata Coffee हुआ, Sri R. K. Krishna Kumar Saab को जब support कर रहे थे Krishna Kumar साहब, उसके बाद Harish Bhat sir. मैं चाहता हूं आपका Hyderabad में, Telangana में आपका बहुत बड़ा land है, big, big land है, godown। तो मैं चाहता हूं आप, आपका company का भी Tata Coffee का Tata merge, Tata Consumer merge हो गया, तो आप उसमें वहां पे godown बना दिए, तो company का rental का income बढ़ जाएगा। और वहां पे इतना भी जरूरी है कि वहां बड़े tax भी आ सकते हैं, जो पूरा city के पूरा बाहर है। ये company का ध्यान रहेंगे तो बहुत अच्छा रहेगा। और sir, अभी Tata company में बहुत competition हो गया है। तो मैं चाहता हूं every year all over India में आप कम से कम competition में, Tata company में इतना competition हो गया है कि आप एक position दिखना पड़े five years to five years. तो company में इसको लाख से ज्यादा के करोड़ से फायदा होगा company को, लाख से ज्यादा के करोड़ रुपए में। तो उसके ऊपर जरा ध्यान दीजिए आप। आप ये company है ना, ये Telangana का जो land है, उसमें go down बनाएँ तो आपका rental income बन जाएगा। बहुत बड़ा जगह है sir. मैं कईयों बार research कर चुका हूं, इतना बड़ा acre land, वहां बड़े tax भी, बड़े tax भी आ सकते हैं। तो आपका ये company में लाख में होते-होते करोड़ से पैसा saving होगा। तो उसके साथ-साथ आप second time Tata Group के Chairman बने, मैं उसके लिए शुभकामनाएं देता हूं। और हमारे JRD Tata, Ratan जी को भी मेरा नमस्कार। आज मैं कितना, मेरे दिल में है कि ये Tata Group जो India का है, भगवान है, God है। कभी कोई investor को धोखा नहीं दिए। Market crash हुआ, then again वो rise आया, उस पर हमारे को सब benefit मिला। आज Tata Group है जो India का number one company है। Thank you, sir. Thank you. Mr. Deepankar Purkayastha. Yeah. Can you hear me? Yeah. Okay. My first question is on this, synergies with the BigBasket. You know, your company has a unique advantage in that you have an online grocer as a sister concern but I find that many of your products are simply not available on BigBasket. Not a single product under the Tata Gluco+ portfolio is available in BigBasket. Not a single product under the Tata Soulfull portfolio is available in BigBasket. Not a single product under the Tata Q portfolio is available in BigBasket. This is a unique advantage which you have vis-à-vis competitors like Unilever, Nestlé or Dabur, who don't have an online grocer as their sister concern. Please leverage this to the fullest, opportunity. My second issue is this key audit matter number one of your standalone financial statements which has stated that an associate has incurred significant losses as it has not been able to recover increase in output costs through increased prices and which has triggered an impaired assessment, impairment assessment in the carrying value of your investment which is INR 288 crores. Three questions on this point. What is the name of this associate company? What is the eventual impairment, if it has been finalized by now? And what are the reasons why this company was not able to recover the input costs? Third point I would like to make is that in the scheme of arrangement which you have made with Tata Coffee, the plantation business of Tata Coffee is going to be held as a subsidiary, as a separate vertical while the extraction and all other residual businesses of Tata Coffee is going to be merged with the main company with Tata Consumer Products. The way I see it is that this will facilitate the disposal of the plantation business at a later time. We are the only beverage company in the world, I think, with having a plantation business which has low margins, low return ratios, which drags the overall return ratios of the company down and is labor-intensive and it doesn't fit well with a modern marketing beverage company. Will the company consider disposal of this business and also exit the stakes in the various associate companies which are involved with tea plantation? If not, could you just state what is the economic rationale for continuing with this business? Are there any other legal or sociopolitical reasons for holding on to this business? A couple of years back, we had read in the press that you were actively scouting for buyers for these businesses but you were not getting remunerative prices. I would respectfully suggest that this business, the prices will go on decreasing, and the longer you take time to exit, the ultimate loser will be the company. The other point I would like to make, my final point, is that some shareholders have already referred to economic value analysis being done for the company. I had also made the suggestion last year. I would strongly recommend that you do this, and you don't do this for the company as a whole only, you do it for all material subsidiaries. It will be very interesting to see if this analysis is rigorously done, how many of our international material subsidiaries would pass this test? That's all that I have to say. Thank you for the time and good day. Mr. Ravikumar Mareddy. Hello. Yeah. Am I audible, sir? Yeah, you are. Sir, good afternoon, sir. Sir, I have some questions. First, what growth will you expect from U.S. coffee business and international tea business in next three-five years? As per the previous three-five-year data, growth was negligible. Second question. Currently, we have 23% share from food business, which is showing 19% growth in previous year. In next two-three years, what do you expect in food segment growth? Last one, currently we have 2,000+ distributors and 8,000+ semi-urban and rural distributors. What is expansion plan in two-three years? Thank you. Mr. Jaideep Bakshi. Go on. Good afternoon, Chairman. Good afternoon. Good afternoon chairman, managing director, CFO and board directors. Jaideep Bakshi connecting from there. Sir, the speaker I guess has asked investment. Now the brands are down. Sir, how much has been the percentage of penetration in the Tier 2 and 3 cities? Sir, to mitigate the input cost inflation as affecting the economy. Sir, are we thinking of graduation on innovation packs? Congrats for growth in revenue and dividend passed on and the performance share units employees will surely motivate them. Also for obtaining the certificate for Great Place to Work, a positive culture. Sir, great initiative for digitalizing distribution chain enable supply chain to be smooth. Sir, I have one suggestion regarding Tata Q, our ready-to-eat category. It's expansion can be done by tie-up with offices and education institution as an easy alternative for street food and brand value will add an advantage. Also same goes for Tata Gluco+, a choice of the young generation. Sir, a new digital campaign has been launched for Eight O'Clock Coffee, can we pursue for the other brands? Sir, what steps are we taking for data protection? Regarding our thought process for the single-use plastics packaging, are we going for paper straws for the Tetrapaks? Lastly, request if we can focus more on water management and not just on emissions. Sir, I'd like to end with a thanks to our energetic company secretary, Mr. Neelabja Chakrabarty, for presenting a colorful and vivid annual report, and also to Mr. Shiv Shankar Rai and Mr. Arghya Chatterjee of Kolkata office for maintaining a cordial relation with the shareholders and entire secretariat team for conducting this video conference in a smooth manner. I have full faith in management, and I hope under your leadership and entire management become a leading FMCG player and create a lasting value and future-ready organization as mentioned in page 82 of annual report. Thank you and all stay safe. Thank you sir. Thank you. With that, we have come to the end of shareholder speeches. Let me give a quick response to all the shareholder observations. First, Dr. Arun Kumar Boppana, thank you for your overall comments. Tata Coffee integration, you asked, it'll take about 9-12 months to complete the whole NCLT and other processes. We expect the synergy to be in the upper single-digit in terms of PAT. We have fortification plans for all our products. We already do Tata Salt Immuno with zinc, and then we have a Gold Care, and then Cholera Care, and there are a number of such initiatives for each category. You asked about inorganic expansion. Yes, inorganic expansion is one of the key strategies for the company. The cash in the company will be used definitely for the right inorganic growth opportunities. You asked about the plastics. India, we are part of the India Plastics Pact as well as the U.K. Plastics Pact. 80% of the Tata Salt packaging today is recyclable and we are working on a fully sustainable packaging initiative overall. This question was raised by many people, so I will not repeat this answer but basically, we are working on fully sustainable packaging initiative. Mr. Manoj Kumar Gupta, you asked about CapEx. Last year, our CapEx spend was INR 250 crores. For FY 2023, it's going to be INR 361 crores of which the projects work will be about INR 161 crores. Many other people also asked the same question. Russia and Ukraine, we do not see much impact on the Tata Consumer Products. Mr. Naveen Bothra, you asked about what we can be, and you asked about Tata Neu, BB, and our R&D budget, et c.. Many people have similar comments. The company has a very aspirational growth plan. If you really see what steps we have taken in the last two-three years, it has been, first of all, in consolidating the company, the portfolio within the company as well as across the group. We have launched both the beverages and foods as two different verticals, and we are scaling up our distribution. We have also made acquisitions, whether it is Soulfull or the Ready to Eat acquisition. We will continue to do two or three things. A, increase our distribution footprint. B, increase our portfolio so that we can successfully leverage the distribution we have in terms of the number of products that we have. We also have focus on water, and somebody asked whether there is going to be acquisition on water. Yes, we will continue to look for any expansive opportunities both on the water side and also on the food and beverage sid and into completely new categories, which will also may come through acquisitions. Our R&D budget was INR 24 crore last year to INR 30 crore in FY 2023. Yes, there will be substantial increase in the R&D budget as we go into the future. You asked about why NourishCo is not available in the North, primarily because there is no manufacturing facility, and we are addressing that. Overall, the comment that has been mentioned by many other shareholders about our products not being available, we are addressing it. It's been improving the last two years. We have a long way to go. We definitely want to make sure that our products are widely available across the nation. Ms. Patel, you asked about why it is 6.05. It is because it is 60% is the payout ratio on the consolidated profits t hat's why that number 6.05. You asked about cash going down, inventory gone up and et cetera, but you know, they're all very marginal changes. Overall, the company is focused on return ratios. You're seeing a substantial improvement in return on capital deployed over the last two to three years. We will focus on ROE, ROCE, and free cash flow generation. All will continue to improve as we go into the future. You asked about the unlisted material subsidiaries, the Eight O'Clock Coffee and the Tata Consumer Products UK Limited. Mr. Santosh Kumar Saraf, you asked about are we going to enter into atta and rice? The answer is no. I already answered the question. The fourth booster dose, the company is facilitating vaccination for all the employees and their families. People asked about the share of digital income through Tata Neu and BigBasket. Tata Consumer Products is present in Tata Neu through BigBasket channel and it is about 2% of the overall sales, and we want to definitely see significant increase in this going forward. Ms. Paridhi Agarwal, you asked about the synergies due to Tata Chemicals acquisition. Already we have seen a synergy of more than INR 100 crore on the cost base on a sustainable basis. Manas Banerjee, thank you for your comments, and the product portfolio will continue to expand into the product portfolio. Last year we launched 40 new products and we will continue to expand. Nidhi Kanoi, yes, the commodity prices, we will continue to watch and I can't give you any definitive answer at this point in time. You asked about are we going to sell the plantation. Later on, some other shareholder also asked and we have no plans to sell the plantation business. All we are trying to do is to consolidate so that we can get the synergies and also ensure that the businesses are together and we can drive both growth and also optimize costs. You asked about Abhirup Nandy, you asked about the TCPL U.K.. It will help to simplify the business further. The number of subs will come down from 43 to 23. The comments on EVA is noted. I will pass on to the management to focus on the EVA calculation. Mr. Hiranand Kotwani, thank you for your comments, especially on improving the marketing as well as in terms of looking at expanding the presence in multiple markets. Mr. Gautam Tiwari, you asked about the percentage of revenue from new products. It is about 3%, 40 new products were launched last year. R&D spend, I already answered. You asked about what are all the R&D locations we have. We have four centers. Our R&D for beverages is in Bangalore, R&D for food and salt is in Pune, and ready-to-eat is in Mumbai and Sri City. Lekha Shah, thank you for your comments, and we will be expanding the ready-to-eat business. We are getting into new categories around gravy. Gautam Nandi, thank you for all your comments. Mr. Pranab Da, thank you for all your comments. You definitely specified about the improvements that is required in the distribution and the retailer network. Yes, we are working on it. In terms of your other comments, in terms of ROCE or social learning or employee benefits provisions, the employee benefit provision only is as per what is required by the calculation, and whatever is required we provide for. Otherwise, there is a strong focus on improving ROCE as well as in learning. Mr. Ashish Kumar Pathak, the businesses that we exited, you asked about it. There is a business in Australia, which is the MAP business that we exited, and also the empirical business in United States that we exited. In India, we are not going ahead with the Tata Cha. These are the three businesses that we exited. The comparison is excluding these. The Starbucks, you asked about when it will become profitable. Already the business is EBITDA positive this year and we have very promising outlook on the business, so we'll continue to expand strongly. You asked about this impairment of this associate company. Later on, some other shareholders also asked. It is the Amalgamated Plantations and the current value that is carried in the books is justified and the auditors have done the analysis, and they are satisfied with the current value that is carried in the books. You asked about the loan. Actually, the loan that is referred. Later on, Tamal Kumar Majumdar also asked. This actually refers to the intercorporate deposits that the company is carrying with firms like the HDFC Bank and others. Pooja Agarwal, I already answered that the online sales through BigBasket is about 2%, and we will continue to hope to increase this and leverage the digital channels. Kamal Majumdar, you made a number of points. Thank you for those points. You asked about Tata SmartFoodz. We think Tata SmartFoodz has a very good opportunity. We have already taken actions to right-size the fixed costs of that unit since we have taken over and now we will use the distribution channels we have to increase sales. The TRIL project, that particular project is under construction. There's a land that's owned by Tata Consumer Products, so we are building the headquarters. It's a development that we are doing with TRIL. Mr. Bimal Agarwal, your suggestion to make the gift card available across the Tata companies is noted. Mr. Vasudeva Ramaswamy, you asked about what is our plan to be the top five, top one, et cetera. I think the company is on a growth path. It's better for the company to focus on leveraging the product portfolio and expanding the distribution and continue to innovate in its product portfolio and enter new categories. We will support both organic and inorganic growth opportunities. Mr. Biswendra Kundu, although I already have told you about the expansion plans, I cannot give a specific target for the roadmap for three to four years, except to say, the company is focused on expanding the distribution, expanding the product portfolio, entering into new categories, and a lot of focus in the domestic market. International market focus will be in U.S., Canada, and U.K. We have rationalized our presence in all the other markets. Company has a lot of opportunity to increase the return ratios. Our margins will continue to improve as we see higher growth. Amit Kumar Banerjee, I've already answered all your questions and taken note of your suggestion to do the AGM in the physical and virtual medium. Mr. Alok Kumar Pal, I already answered the capital expenditure about INR 361 crores. Your suggestions to focus on next phase of organization is noted. You asked about the secretarial cost, it's about INR 5 lakhs. You asked about the registrars and transfers cost, that's INR 1.5 crores. AGM cost is approximately INR 15 lakhs. Mr. S.P. Basanya, Himalayan, yes, we will continue to focus on increasing the brand for the Himalayan. Lot of suggestions are made on the Himalayan water. I will take it up with the management. Also, I am drinking only the Himalayan water. Someone asked that question. The question on unpaid dividend was asked by many shareholders. I want to tell you that the 100% of the dividend has been paid to the shareholders. There is no unpaid dividend that is being transferred. Anytime such a situation arises in the future years, the company will engage with the shareholders and send them multiple reminders. This, we also take it very seriously, and we'll make every effort to ensure that the money goes to the shareholders. Mr. Sharad Kumar Shah, you asked about attrition, it is about 13%. You mentioned about eight lakh employees. The 8 lakh employees is for the entire group. Your other points are noted. Mr. Anil Kumar Parekh, I already answered the question on TRIL Constructions. Your comments on the land parcel is noted. Ms. Akansha Gupta, the growth model I already answered. It will be both inorganic and organic, and increase of our products by higher end of the distribution, and also by increasing products through innovation. Mr. Mahesh Kumar Bubna, the company has the aspiration to expand into other categories apart from beverages and foods. The promoters have increased their shareholding in the company substantially over the last two years. Whenever there is an opportunity, then we will look at that for further expansion. The MD will be reachable. In case if you want to speak to the MD, you can reach him through the company secretary, and if there is any material issues you have, and he'll be very happy to address. The fact that last two, three years have been pandemic, it has not been easy for anyone to engage directly with the shareholders. Mr. Anindya Sundar Roy, your comments on Himalayan is noted. Mr. Shailesh Mahadevia, you asked about the five different brands of Tata Salt. Tata Salt has the regular salt, and then the Tata Salt Lite which is the low sodium salt. Then there is Tata Salt Immuno which has high zinc content to promote immunity. Then we have the rock salt which is a natural salt. Then Shudh Salt which is the solar salt. Ragi, we are focusing on that. Tata Soulfull is based on millets led by ragi but definitely that's an area we are focusing. Your points on the tea center are noted. We will see what we can do. Your point about the soil is noted, and we will see how we can engage better in that initiative. Prakashini Shenoy, I already answered your question on plastic use as well as the roadmap. Ms. Nalini Shah, your points are noted. Nalin Shah, your points are noted, and I've already addressed them. Ms. Vasudha Dakwe, the unclaimed dividend, I already answered. Mr. Mascarenhas, your question is answered with regard to online sales. Your comments based on biscuits and other categories is noted. The company will look at food and other categories as we move forward. Mrs. Mascarenhas, your comments are also already answered. Mr. Atanu Saha, you asked about renewable energy, 25% of the energy is renewable energy, and it will continue to improve. Mr. Chopra, thank you for your comments and you talked about our international business contributing 25%. The company's focus will continue to expand growth in the domestic market. Your comments about keeping all shareholders to 3-minute, we will try to enforce. We continue to request shareholders to be brief in all meetings. Mr. Kamal Kishor Jawa, your comments on the land in Hyderabad is noted. We will see what we can do. Mr. Deepankar Purkayastha, we have already answered most of your questions. We will take note, and the company will work on the EVA and publish that number or share that number at least. We will improve the synergy with BigBasket by making the products available online. The associate company is Amalgamated Plantations. I already mentioned about that. Mr. Ravi Kumar Naredi, I answered your questions already. Mr. Jaideep Bakshi, your comments are also answered already. Thank you, all shareholders for participating and sharing your thoughts with us. Now, I would like to authorize Mr. Neelabja Chakrabarty, Company Secretary, to conduct the voting procedure and conclude the meeting. The e-voting facility will remain open for the next 15 minutes to enable the members to cast their vote. Dr. Asim Kumar Chattopadhyay, Practicing Company Secretary has been appointed as scrutinizer for this meeting. I also authorize the company secretary to accept, acknowledge, and countersign the scrutinizer's report and declare the consolidated voting results on receipt of the scrutinizer's report. The results will be announced within two working days of the conclusion of this meeting, and the same would be intimated to the stock exchanges and displayed on the website of the company and NSDL, as well as on the notice board of the registered office of the company. I once again take the opportunity to thank all shareholders for participating in the meeting and for your continued support. I also thank the directors for joining the meeting today through audiovisual means. With your consent, all the board members, the management team, and I would like to leave the meeting now. I wish all shareholders a safe and healthy year ahead. The e-voting has been kept open for 15 minutes as mentioned by the chairman. We now close the e-voting. I would like to say that the requisite quorum was present throughout the meeting. The results of the annual general meeting will be announced by the company within two working days. With this, I declare the meeting as concluded. Thank you for attending the meeting.