In the midst of the reports that Tata is planning to acquire 51 percent stake in India’s leading snack company Haldiram, know its 5 year revenue and its finances.
As reports emerge that Ratan Tata’s firm Tata Consumer Products Ltd has plans to acquire 51 percent stake in leading Indian snack and sweets brand Haldiram against a massive valuation, Tata soon came forward to issue a clarification on the news.
Haldiram reportedly demanded a whopping USD 10 billion valuation of the company, which comes out to over Rs 83,000 crore. This brought to the light the massive revenue Haldiram and its other companies have been bringing in over the last few years.
According to a report by Business Today, Haldiram and its other registered companies in India brought in revenue of USD 981 million in the financial year ending in March 2022, which comes out to over Rs 8,162 crore in Indian currency.
The company reportedly sought a valuation of USD 10 billion (Rs 83,000 crore), which is currently times its revenue in last year. According to this reported valuation, the revenue of Haldiram and its other companies over the last five years should be around USD 5 billion, which is Rs 41,500 crore.
Clarifying the rumours after the report broke out, Tata Consumer Products has denied entering into a negotiation with Haldiram to acquire 51 percent of its shares, since it is not comfortable with the high valuation of USD 10 billion at the moment.
A third person with direct knowledge of the discussions said Tata wants to buy more than 51% but has told Haldiram's that its "ask is very high,” according to Reuters reports.
As per the exclusive report by Reuters, the potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. Haldiram's is huge in the consumer space and has a wide market share."
(With Reuters inputs)
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