Tata International has partnered with Switzerland-based Mercuria in a strategic joint venture that sees the latter acquiring a 51% stake in Tata’s trading business, as per news reports. This move aims to solidify Tata International’s global presence amidst volatile trade dynamics and ongoing geopolitical challenges.
Mercuria, a Swiss commodities and energy trading major, has secured a 51% stake in Tata International’s trading operations. This majority ownership will allow Mercuria strategic control over Tata’s global trading activities, which are critical for the conglomerate's footprint across commodities, metals, minerals, and agri-products. The decision follows Tata International’s request to Tata Sons for approval, indicating a major structural shift for the company’s trading business managed under Noel Tata.
This partnership is seen as a measured response to the ongoing geopolitical, energy, and supply chain disruptions. Tata International has been under pressure, as indicated by its recent ₹1,000 crore funding request to Tata Sons. The move to form a JV aligns with the broader objective of creating a more resilient and sustainable trading framework.
The trading segment contributes to 84% of Tata International’s total revenue, with distribution making up 8%. Key regional contributions include Asia at 48%, India at 37%, and Africa at 8%. The company also engages in specialised manufacturing across segments such as leather, footwear, aluminium products, and cycles.
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Revenue at Tata International doubled in FY25 to ₹32,027 crore from ₹16,367 crore in FY20. Despite the growth, the company reported a net loss of ₹477 crore in FY25, signalling pressure on profitability. Tata Sons had earlier increased its stake in the company to 66.85%, highlighting its strategic importance within the Tata Group's portfolio.
The formation of a JV with Mercuria marks a significant milestone in Tata International’s business evolution. With a 51% ownership, Mercuria is well-positioned to steer the trading operations towards long-term sustainability and profitability in a complex global environment.
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Published on: Sep 15, 2025, 2:01 PM IST
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