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    TATACONSUM   INE192A01025

TATA CONSUMER PRODUCTS LIMITED

(TATACONSUM)
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Tata Consumer Products : to sign MoU with IIMR to strengthen R&D efforts in millets

09/15/2021 | 10:52pm EDT

Tata Consumer Products (TCP) the consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella, will be signing a Memorandum of Understanding (MoU) with the Indian Institute of Millet Research (IIMR), to unlock the full potential of millets as a healthier and more sustainable alternative to traditional grains. TCP is the parent company of the Tata Soulfull brand, which has a portfolio of millet based products for kids and adults. The MoU will be signed by Dr Vilas A Tonapi, Director ICAR - Indian Institute of Millets Research and Vikas Gupta ,Global Head, R&D - Tata Consumer Products at the 'Nutri-Cereals Multi-stakeholders Mega Convention 3.0' Hyderabad, organized by Nutrihub, ICAR- IIMR. The event aims to highlight the UN's recent announcement of 2023 as the International Year of Millets (IYOM).

Tata Consumer Products has identified pantry and the mini meals segments as some of the key areas of focus in its growth strategy. Currently, it has the Tata Sampann brand in the pantry segment with a wide range of pulses and spices, and Tata Soulfull in the breakfast cereals, mini meals and snacking segment offering a range of millet based products for the modern Indian consumer. At the convention, Tata Consumer Products will also launch a new, improved version of Tata Soulfull No Maida Choco which comes with the added benefit of seven super grains in a delicious chocolate flavour. With the complete elimination of maida, preservatives and artificial ingredients, this healthy option offers parents and children the right balance of health, taste, and convenience since it is made of nutrient-rich millets, rich in fibre and protein.

The MoU will help combine the R&D expertise of the two entities and help TCP to strengthen the product portfolio in the area of millets, develop more value added formats for consumers and make millets available to many more consumers across India.

The MoU will cover the following key areas of collaboration between TCP and IIMR:

  • Ramp up innovation in millets: The MoU will strengthen innovation in millets, especially in areas related to the consumer experience
  • Leveraging IIMR's understanding of grains and millet varieties: Understand the suitability of grains and millets for specific consumer applications
  • Analytical expertise: Mutually supporting each other in gaining analytical and technical expertise in the area of millet research and processing
  • Spread awareness and strengthen advocacy for millets: Advocate and spread awareness on the benefits of millets at various forums and platforms in partnership with other government and industry bodies, ahead of the International Year of Millets in 2023.

Sunil D'Souza, Managing Director & CEO of Tata Consumer Products speaking about the association said, 'The UN's declaration of 2023 as the International Year of Millets (IYOM) is a very positive initiative to promote millets as a healthy and sustainable diet option. India is one of the largest producers of millets and we are happy to associate with IIMR to unlock the potential of millets. This partnership will help strengthen our innovation agenda, making the benefits of millets more mainstream and widely available to consumers in a variety of convenient and modern formats. Millets are an important category for Tata Consumer Products and the credibility of the Tata brand will help grow this segment with value added products. To mark this occasion, we are also happy to launch our offering, an improved version of the Tata Soulfull No Maida Choco at the Nutri-Cereals Convention, a platform that encourages millet consumption among the public. '

Dr Vilas A Tonapi, Director ICAR - Indian Institute of Millets Research (IIMR) said 'This MoU will help us further spread awareness on the nutrition and sustainability benefits of millets and make it widely available in formats that integrate with people's lifestyles, so that they become a key part of the Indian diet'. Dr B Dayakar Rao, CEO - Nutrihub, IIMR said, 'We are happy to associate with Tata Consumer Products in our objective to create awareness about millets and make them more mainstream'.

Tata Consumer Soulfull Pvt Limited became a 100% subsidiary of Tata Consumer Products in February 2021. Tata Soulfull currently offers a range of healthy snacks and breakfast cereals like Ragi Bites and Millet Muesli, as well as plant-based protein drinks like Smoothix. For more information visit http://www.tatasoulfull.com

About Tata Consumer Products Limited

Tata Consumer Products Limited is a focused consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella. The Company's portfolio of products includes tea, coffee, water, RTDs, salt, pulses, spices, ready-to-cook offerings, breakfast cereals, snacks, and mini meals. Tata Consumer Products is the 2nd largest branded tea company in the world. Its key beverage brands include Tata Tea, Tetley, Eight O'Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Water Plus and Tata Gluco Plus. Its foods portfolio includes brands such as Tata Salt, Tata Sampann and Tata Soulfull. In India, Tata Consumer Products has a reach of over 200 million households, giving it an unparalleled ability to leverage the Tata brand in consumer products. The Company has an annual turnover of ~Rs. 11,600 cr with operations in India and International markets. For more information, please visit www.tataconsumer.com

About Tata Consumer Soulfull

Tata Consumer Soulfull Pvt. Ltd is a 100% subsidiary of Tata Consumer Products and operates in the health and wellness focused food segment under the brand name 'Tata Soulfull' (earlier Soulfull). Tata Soulfull is one of the leading brands in India's 'better for you' packaged foods market. The brand Soulfull was launched in 2013 and offers a portfolio of millet-based products for children and adults in contemporary tastes and formats. With rich expertise in ancient millets like ragi (finger millet), Soulfull has an innovative portfolio of products such as breakfast cereals, healthy snacks, muesli, and plant-based protein drinks.

For more information, please visit http://www.tatasoulfull.com

About IIMR

Indian Institute of Millets Research (IIMR) is a premier agricultural research institute engaged in basic and strategic research on Sorghum and other millets under the Indian Council of Agricultural Research (ICAR). IIMR coordinates and facilitates Millets research at the national level through All India Coordinated Research Projects on Millets, Pearl Millet, and Small Millets and provides linkages with various national and international agencies. Nutrihub is Technology Business Incubator handholding 200 plus millet based startups establishing last mile connectivity with consumers. Nutrihub is commercial arm of IIMR providing technology backstopping, market connects, capacity building, mentoring and financial facilitation.

Disclaimer

Tata Consumer Products Ltd. published this content on 15 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 02:51:00 UTC.


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Sales 2022 128 B 1 705 M 1 705 M
Net income 2022 11 089 M 148 M 148 M
Net cash 2022 28 291 M 377 M 377 M
P/E ratio 2022 69,9x
Yield 2022 0,58%
Capitalization 783 B 10 439 M 10 438 M
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Nbr of Employees 2 852
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Sunil A. D'Souza Chief Executive Officer, Executive Director & MD
Krishna Kumar Lakshmanan Group Chief Financial Officer & Executive Director
John Jacob Chief Financial Officer
Natarajan Chandrasekaran Chairman
Vikas Gupta Global Head-Research & Development