Kolkata: Tata Global Beverages (erstwhile Tata Tea) is targetting revenue of USD 5 billion, its Chairman Ratan Tata said on Tuesday.
"We will have to meet the target of USD five billion to move up the value chain and increase presence in the high-end business," Tata told shareholders at the company's AGM here.
"This will be done through acquisitions and organic growth," he said.
Tata said the roadmap for Tata Global was to become a beverages company and food products which have nutritious value.
"We have also introduced ayurvedic products," he said.
About the joint venture company with Pepsico, he said the entity would help distribution and increase the marketing reach of Tata Global products.
Tata said the company would not enter the carbonated drinks segment.
"We will also focus on new geographies", he said.  "I will just say that the year under review has been challenging for the company because of the increase in ra materials prices which reached very high level. Despite that, we have been able to, more or less, provide a stable set of results," Tata said.
Consolidated revenue for the last fiscal stood at USD 1.3 billion.
"This is the first year after the company is meeting after the change in name," he told shareholders.
"The name is changed to reflect the change in the company's objective and direction," he said.
The company had acquired 31 per cent stake in Rising Beverages Inc of USA to market a brand of products which is again vitamin water based products which is the fastest growing beverage category in that country.