Tata Global Beverages (TGBL) reported consolidated sales of | 1674.3 crore, up 4.7% YoY. Revenues of the branded division grew marginally by 4.4% (tea grew 6.6% YoY but coffee segment continued to remain under pressure and declined 7.1% YoY). Nonbranded segment grew strongly by 12.7% YoY TGBL continued higher advertisement expense at 23.8% (up 152 bps as percentage of net sales to 9.9%) on new launches and existing business, EBITDA for the company grew 11.8% YoY to | 178.9 crore (I-direct estimate: | 195.2 crore) on account of subdued tea and...