Tata Power, set up in 1915, held its 100th annual general meeting on June 18, 2019. While it should have been an occasion to celebrate, with net debt of ₹47,552 crore in FY19 and a net debt-to-EBITDA (earnings before interest, taxation, depreciation and amortisation) ratio of seven, there was not much to celebrate. When shareholders asked Tata Group Chairman N. Chandrasekaran what he was doing to reduce the company’s liabilities, he looked visibly irritated. “We’re working on a solution; it’s not that we are not trying hard,” he said.
In the first nine months of FY2020, Tata Power repaid ₹2,257 crore debt. But for Chandrasekaran, who completes three years as the head of the Tata group on February 21, that is little relief. The gross debt of 11 major indebted listed companies in the group – excluding financing companies and holding company Tata Sons — stood at ₹2.46 lakh crore in FY19 compared to ₹2.22 lakh crore in FY18 and ₹2.1 lakh crore in FY17.
Debt pressure is mounting on marquee Tata companies such as Tata Steel and Tata Motors. In the first nine months of FY2020, Tata Steel’s net debt increased 10.2 per cent to ₹1,04,628 crore, while that of Tata Motors’ automotive business (excluding lending subsidiary Tata Motors Finance) surged 59.8 per cent to ₹45,376 crore. While the steel business has been dogged by troubles in Europe, the auto business faces headwinds in India and China and slowdown in demand for diesel cars, which account for a vast chunk of its UK and European business.
BT sent a questionnaire to the Tata group, which provided details of its debt handling plan. Besides, Tata Sons executives briefed Business Today.
Diese Geschichte stammt aus der March 08, 2020-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der March 08, 2020-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
