Tata group continues to battle legacy issues; TCS remains prime cash cow

Ex-TCS, group posted net loss for the third straight year in FY21

Nearly a decade after the retirement of Ratan Tata from the group and almost five years after the ouster of Cyrus Mistry from Tata Sons, India’s largest business conglomerate in the private sector continues to be bogged down with legacy issues.

If the earnings of Tata Consultancy Services are excluded, the group’s listed companies reported a net loss on a consolidated basis for the third consecutive year in FY21. Ex-TCS, the group listed companies, reported a combined net loss of Rs 3,405 crore in FY21, up from a combined loss of Rs 2,996 crore a year before. Including TCS, the group’s