Annual Report: 2022
Being agile. Tata Capital Limited ("TCL"), a subsidiary of Tata Sons Private Limited, is registered with the Reserve Bank of India as a Systemically Important Non-Deposit Accepting Core Investment Company. Tata Capital caters to retail, corporate, and institutional customers with financial services.
Our Purpose and Pillars: A responsible financial partner fulfilling India’s aspirations through Lead with Trust, Better Together, Future Ready, Faster Forward, Capital & More, and Delivering Delight.
Corporate Social Responsibility (CSR) Initiatives: Tata Capital’s CSR is oriented towards stakeholder participation methodology, where the well-being of the target groups, like the community and the environment, are integral to the long-term success of the company. Some initiatives include:
Product Portfolio: As a one-stop financial services provider, Tata Capital caters to retail, corporate, and institutional customers with a comprehensive suite of products and service offerings:
Digital Initiatives: In FY 21-22, Tata Capital accelerated its digital transformation to achieve business growth, drive customer centricity, and attain operational excellence by building new digital platforms and improving direct-to-customer journeys.
New Products Introduced:
Snapshot of Numbers:
Awards: The company won several awards across different categories, including Human Excellence Awards, TISS and Leapvault CLO Awards, Assocham CSR & Sustainability Summit Awards, Drivers of Digital Awards, CII(WR) SHE Excellence and Innovation Award, Marketing Campaign of the Year, and Excellence in Water Conservation.
Message from the Chairman (Saurabh Agrawal): The last year was a sound reminder of how the human spirit has the ability to overcome all odds, and the pandemic's impact on the economy was limited by proactive government and regulator measures. Financial services reinforced its vital place, and NBFCs displayed resilience. He notes that the financial sector has come out of years of balance sheet repair and is well capitalized, and that Tata Capital has corrected its cost structure and restructured the business. He comments on the focus on growth, credit quality, and digital capabilities, and the empowerment of people. Consolidated balance sheet expanded to Rs 94,349 crore, with a Y-o-Y growth of 22%, and Company recorded its highest ever profits of Rs 1,648 crore, with a Y-o-Y growth of 46%, resulting in a ROE of 15%+. Despite some geo-political and inflationary uncertainty, he feels confident in India's potential to grow and emerge as the fastest-growing major economy in Asia, and expects Tata Capital to continue to play a pivotal role in bringing together pools of capital and providing credit to a diverse set of customers, expanding its footprint to 450+ locations.
Message from the Managing Director and CEO (Rajiv Sabharwal): The company navigated the debilitating impact of the pandemic and consolidated its position amongst the Top 3 diversified NBFCs in India. The year 2021 will be remembered as the year in which the human spirit rose above the adversity caused by the pandemic and embraced the 'new normal'. Registered a strong recovery in disbursements during the year - higher by 109% as compared to last year; recorded highest ever quarterly disbursals in the retail segment during Q4 FY 21-22. Loan book also grew by 22% over the year, which is considerably higher than the industry growth. Margins improved by ~60 bps over the year in FY 21-22. As of March 2022, the gross NPA and net NPA stood at 1.9% and 0.6% respectively. Tata Capital has adopted the RBI circular dated 12th Nov, 2021 pertaining to reclassification of NPA accounts on a prudent basis, instead of opting for deferment.
Transformation Journey:
Evolving regulatory landscape: The regulations between the Banks and NBFCs are being gradually harmonized, and scale based regulations have been introduced. These changes are welcomed. Future outlook: Remains cautious of economic headwinds. Tata Capital will be guided by the Tata Group's principle of Simplicity, Scale, and Synergy as One-Tata Philosophy. Rajiv Sabharwal expresses gratitude towards colleagues and the Board and thanks customers and shareholders.
Board’s Report: Tata Capital Limited is registered with the RBI as a Systemically Important Non-Deposit Accepting Core Investment Company. The Board reports on the financial results for the year ended March 31, 2022, including consolidated and standalone figures.
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