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Premium salt segment is driving the image of the brand. There is a lot of room for growth within the segment, said Richa Arora, president, packaged foods, Tata Consumer Products.
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Consumers, especially youngsters, have become more health conscious amid the pandemic.
Bengaluru: Edible salt market will be 100% branded in the next 4-5 years and the market for value-added salt category, accelerated by the pandemic, will gain a lot more visibility now, said Tata Consumer Products. The maker of the eponymous salt brand Tata Salt and market leader in the category estimates the salt market growing at 2-4% driven by increasing consumer awareness about health and quality. Currently, about 7% of the salt market is accounted by unbranded players.
Tata Chemicals rose 3.99% to Rs 543.70, following the media report that the Tata Group company is in advanced talks to acquire the industrial salt unit of Archean Group.The media reported that Tata Chemicals is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at Rs 450 crore ($61 million) at a minimum. The board of Tata Chemicals is set to discuss the potential offer as soon as this month, the report added.
The BSE has sought clarification from Tata Chemicals on 13 January 2021, with reference to a media report. The reply is awaited.
Archean Group is a privately held business conglomerate, with diversified business interests across sectors including industrial salt, industrial chemicals & fertilizers, mining & minerals and granites. operations and strategic investments are spread across India, South America, Middle East, Africa, Far East and South East Asia.
At the same time, it reaffirmed the rating for short-term instruments worth Rs 715 crore at A1-plus.
ICRA also upgraded the company s fund-based working capital facilities at AAA with a stable outlook from AA-plus earlier. Besides, it reaffirmed the non-fund based facility at A1-plus. Tata Consumer Products earlier known as Tata Global Beverages Ltd has a consolidated revenue of Rs 10,000 crore and employs over 2,200 people in its branded business. The portfolio of products includes tea, coffee, water, salt, pulses, spices and packaged food offerings. It is the second-largest branded tea company in the world with key beverage brands like Tata Tea, Tetley, Eight O Clock Coffee, Tata Coffee Grand and Himalayan Natural Mineral Water.