This has helped total m-cap of group companies to rise by 45% to Rs 12 lakh crore during this period. “It took a lot of approvals and time to demerge the consumer business from Tata Chemicals to build TGBL as the next big FMCG company. One cannot get impatient with effort of this magnitude,” the official said.Former Tata Sons director R Gopalakrishnan said Chandrasekaran has adapted well to the challenges where his leadership and actions have been supported by the board. It has massively underperformed peers including Mahindra & Mahindra and Maruti Suzuki.Similarly, Tata Steel has employed Rs 1.8 lakh crore and its m-cap is only Rs 50,000 crore, down 6% in three years. So that is clearly manageable and not a worry at all,” a Tata Sons official said.Defending the group performance, a former Tata Sons official said a conglomerate like Tatas would have commitments in markets such as the UK that it cannot walk away from.

Source: Economic Times February 21, 2020 02:15 UTC