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Our Bureau

Forays into health, wellness segment

MR P.T. SIGANPORIA, MD, Tata Tea Ltd, at the launch in the Capital on Monday. — Ramesh Sharma

New Delhi March 12 Owing to healthy growth in the domestic market, Tata Tea on Monday said it is gunning for the top slot, currently occupied by Hindustan Unilever Ltd (HUL) in the Rs 6,000-crore organised tea market in India.

"We have been achieving double-digit growth while the industry is growing only at 3.3 per cent. We aim to be the number one in the domestic market," said Mr P.T. Siganporia, Managing Director, Tata Tea Ltd.

Currently, HUL leads the domestic tea market with 19 per cent shares, closely followed by Tata Tea's 18 per cent shares. "We are not yet there but very close. By next year we should be able to reach the number one slot," he added.

The company, earlier during the day, launched its new flavoured product, Tata Tea Life, thereby making its foray into the health and wellness segment of tea.

The company's Executive Director, Ms Sangeeta Talwar, said the new product will not be positioned as a niche product but will be promoted as a mainstream one that has additional tastes of herbs and spices known to provide overall health and wellness. Initially, the company will make available its new brands in 250 gm and 100 gm packs priced at Rs 52 and Rs 20 respectively.

On Tata Tea's performance, Mr Siganporia said that this fiscal the company was already significantly ahead of its target, but declined to give out the figures. In the third quarter ended December 2006, the company had reported an increase of 53.72 per cent in net profit to Rs 94.2 crore as against Rs 61.28 crore in the corresponding quarter previous year. Its total income during the quarter stood at Rs 298.72 crore as against Rs 281.68 crore in the same period last year.

More Stories on : Market Shares | Tea | New Products & Services | Tata Tea Ltd

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