Latest news with #NoelN.Tata
India.com
4 days ago
- Automotive
- India.com
Months after Ratan Tata's death, BIG decision by Tata Sons shareholders, appoints Noel Tata as…, passes resolutions at…
Shareholders of Tata Sons, the principal holding company of the Tata group have unanimously cleared all six resolutions at its annual general meeting (AGM) on Thursday, including the appointment of Noel N. Tata as a director. The AGM, conducted virtually, was described as being held in a highly positive atmosphere, with every resolution under both ordinary and special business categories receiving unanimous approval, reported PTI citing sources. Tata Sons Shareholders Appoint Noel Tata As Director Among the special business was the appointment of Noel N Tata, the Chairman of Tata Trusts, as a director of the company. He was appointed by the board of directors as an Additional Director with effect from October 22, 2024, after the death of Ratan Tata. 'His appointment and all six other resolutions were passed unanimously. The Shapoorji Pallonji Group also supported all the resolutions. These are good times for the (Tata) group,' said a source. Tata Sons AGM 2025: What Are Key Decisions? The other resolutions in the AGM include reappointment of Venu Srinivasan, Chairman Emeritus of TVS Motor Company, as a Director of Tata Sons and declare dividend on preference shares and ordinary shares of the company for the financial year 2024-25. As per Tata Sons annual report for 2024-25, the directors had recommended a dividend of Rs 64,900 per share on 4,04,146 ordinary shares as compared to Rs 35,000 in previous fiscal. The directors had also recommended a dividend on cumulative redeemable preference shares amounting to Rs 13 lakh for 2024-25. It was Rs 19.78 crore in the previous fiscal. The other special business approved in the AGM was the appointment of Anita Marangoly George as a director. The board of directors had appointed George as an Additional Director with effect from July 12, 2025. The re-appointment of Saurabh Agrawal as a director, along with the standalone and consolidated financial statements, was also approved unanimously by the shareholders of Tata Sons, the sources said. (With Inputs From PTI)
Business Standard
29-04-2025
- Business
- Business Standard
Trent Q4 PAT tumbles 56% YoY to Rs 312 cr; recommends dividend of Rs 5/sh
Trent has reported 56.24% fall in consolidated net profit to Rs 311.60 crore in Q4 FY25 as against Rs 712.09 crore posted in Q4 FY24. Revenue from operations jumped 27.87% YoY to Rs 4,216.94 crore in the quarter ended 31 March 2025. Profit before tax in the fourth quarter of FY25 was at Rs 415.75 crore, down 54.76% from Rs 919.03 crore recorded in the corresponding quarter last year. The Star business registered operating revenue growth of 17% in Q4 FY25. The Star business now consists of 78 stores, including the addition of 12 stores in the current year, and witnessed an all-around improved operating performance, driven by its own brands, staples, fresh & general merchandise offerings. On a standalone basis, the company's net profit declined by 46.51% to Rs 349.92 crore, despite a 28.84% increase in revenue from operations to Rs 4,106.10 crore in Q4 FY25 compared to Q4 FY24. The company operates a significant portfolio of over 1,000 large-box fashion stores. It also continues to selectively refresh its store footprint across concepts, with a presence in 242 cities. In FY25, it opened 40 Westside stores and 244 Zudio stores and consolidated 24 Westside and 24 Zudio stores. As of 31st March, its store portfolio included 248 Westside stores, 765 Zudio stores (including 2 in the UAE), and 30 stores across other lifestyle concepts. In Q4 FY25, the fashion portfolio saw mid-single-digit like-for-like growth, with double-digit growth for the full year. The company continued expanding its presence in metro and Tier 1 cities, focusing on increasing store density and revenue share in key markets. It emphasized that evaluating growth by micro-market performance offers a more accurate view than traditional store comparisons, with strong results reported in FY25. As of the year-end, the company operates with a footprint of over 13 million sq. ft. across its fashion brands. Emerging categories, including beauty & personal care, innerwear, and footwear, continued to gain traction with customers. These categories now contribute over 20% of the company's revenues. The company stated that along with its presence on the Tata Neu platform, continues to gain traction and grow profitably. In FY25, online revenues grew by 43%, contributing over 6% to Westsides total revenues. Westside online offers a unique convenience proposition, fully aligned with the brand's approach in stores, including product offerings, pricing, end-of-season sales, and returns policies. Among standalone brands, Westside now registers some of the highest online volumes compared to its peers in the Indian market. Noel N. Tata, chairman of Trent, said, "In FY25, we built on the agenda of strongly growing our reach and becoming more accessible to our customers. Given the seasonality of the business, nature of the real estate market, and our approach to inventory management, the full-year performance is more representative with respect to revenues, operating profitability and network expansion vis-vis any individual quarter. Our fashion portfolio continues to be differentiated by disciplines & choices. In FY25, Zudio revenues exceeded a billion dollars. Both Westside and Zudio now have the scale & reach and enjoy significant consumer awareness & love. The Indian consumer has evolved rapidly in recent years and is seeking an aspirational product proposition, attractive pricing, and, importantly, ready accessibility. We believe building density of our presence in key markets allows us proximity and the ability to service our customers readily. The market opportunity associated with building brands and a pure-play direct-to-customer business like ours remains immense. In our Star business, we are applying Trents playbook, and the contribution of our own brands is now trending over 70% of revenues. The opportunity in the food space for the Star proposition is exciting while being competitive. We remain convinced that this business is well poised to deliver much consumer value and growth in the years ahead. Meanwhile, the companys board has recommended a dividend of Rs 5 per equity share, subject to the approval of shareholders. The dividend, if approved, shall be paid on or after the fourth day from the conclusion of the 73rd Annual General Meeting. Trent is part of the Tata Group and operates a portfolio of retail concepts. The primary customer propositions of Trent include Westside, one of India's leading chains of fashion retail stores; Zudio, a one-stop destination for great fashion at great value; and Trent Hypermarket, which operates in the competitive food, grocery, and daily needs segment under the Star banner. Trent's new fashion concepts include Samoh, a differentiated & elevated occasion wear offering, and Misbu, which offers a curated & compelling range of beauty, personal care, and fashion accessories. The counter rallied 3.28% to end at Rs 5,380.40 on the BSE.
