From the Chairman's Desk

The last year has been an eventful one for the Company. The merger of Tata Chemicals' Consumer Products business with the Company has given Tata Consumer a much wider scope and exciting opportunities for growth in the new decade. The new name of the Company, 'Tata Consumer Products', signifies its ambition to become a leading force in the consumer products category and marks a new strategic direction for the Company. Its product portfolio currently spans a mix of iconic and emerging brands in tea, coffee, water, salt, pulses, spices and packaged foods. This gives us broader exposure to the large and fast growing FMCG market in India as well as the ability to explore options in the international markets where we have an existing strong base.

The integration of the Company's Foods and Beverages businesses in India is well underway. Unlocking the synergies from this process, and using combined scale to achieve rapid growth, will be critical for our future. We expect these revenue and cost synergies to add significant shareholder value. The combined consumer business will also benefit from a reach to over 200 million households in India, a broader portfolio to deepen distribution, enhanced innovation capabilities and a strong product pipeline.

During the COVID-19 pandemic, Tata Consumer has adapted by innovating new delivery models to consumers, launching brand campaigns that are relevant and meaningful in the current context and closely monitoring changes in consumer buying behavior. We have contributed to the community in various ways- financial assistance as well as making our products available to vulnerable sections of the population and frontline workers in essential services. At Tata Consumer, the health and safety of our employees and stakeholders is of prime importance to us. We are doing all we can to provide a safe working environment, with strong processes and protocols in place. While the road ahead is not an easy one, I believe we are well placed to deliver value to our consumers and other stakeholders.

I would like to thank Mr. Ajoy Misra for his contributions as the outgoing Managing Director & CEO of the Company and welcome Mr. Sunil D'Souza, who has taken charge as Managing Director & CEO in April 2020.

I would also like to take this opportunity to welcome the shareholders of Tata Chemicals, who are now the shareholders of Tata Consumer Products as well. On behalf of the Board, I would like to express my gratitude to all our employees for their commitment especially over the last few months and to our shareholders for their support and faith in the Company.

Warm regards,

N. Chandrasekaran