The past decade was the most productive for Tata Sons in terms of dividend income from group companies. The holding company cumulatively earned Rs 1.78 trillion as dividends and proceeds via share buybacks by group firms since 2013-14 — the highest among India’s private sector business groups.
A big chunk of this income, however, was used by Tata Sons to either write off bad assets or fund the recurring losses incurred by its unlisted subsidiaries in the telecom, retail, e-commerce, and aviation sectors.
Tata Sons cumulatively had a dividend income of only Rs 20,000 crore in the preceding 10 years