Tata Consumer Products Ltd. share price target

Gross margin pressure eased off in 2QFY22 which has been impacting since the last four quarters due to tea cost inflation. The management expects gross margin to improve on a QoQ basis going forward. However, quarterly...

Tea price inflation has impacted TCP's performance since the last four quarters. However, we expect gross margin to improve from 2QFY22 onwards as tea prices have declined (down 32% from their peak in Aug'20 to INR175/kg in Aug'21). In this note, we have analyzed the impact of the fall in tea prices on TCP in the near term. Here are the key insights:...

Tata Consumer Products (TCPL) is a packaged foods company unifying the food and beverage interests.

Tata Consumer Products (previously known as Tata Global Beverages Limited -TGBL) is an Indian multinational non-alcoholic beverages company and a subsidiary of Tata group TGBL markets under the major brands like...

Higher Tea prices impacted standalone gross margin, and higher A&P; investments affected consolidated EBITDA margin. However, the impact of Tea cost inflation is subsiding as gross margin improved QoQ. The management expects the same to reach FY20 levels in one or two quarters. Volume growth in the India Foods business rose 17% YoY, whereas revenue grew 20% in the Salt business on the back of market share gains. However, the India Packaged Beverages business recorded 3% YoY volume growth, due to disruption caused by the second COVID wave. Tata Sampann's...

We lower our earnings estimates for FY22 by 7% on the back of near-term margin pressure in Tea. We maintain our earnings estimates for FY23 and arrive at an FY23 SOTP-based TP of INR725/share. Maintain Buy....

The company reported an exceptional loss of Rs 63.93 crore during the quarter. It mainly represents the costs relating to the business restructure and re-organisation of Rs 18 crore and loss on disposal of an overseas subsidiary/joint venture of Rs 46 crore. Net sales soared 26.28% (24% in constant currency) to Rs 3,037.22 crore in Q4 FY21 from Rs 2,405.03 crore in Q4 FY20, mainly driven by strong volume and value growth in the India Food & Beverage business. Tata Consumer Products' consolidated net profit stood at Rs 133.34 crore in Q4 FY21 compared with net loss of Rs 50.21 crore in Q4 FY20. Profit before exceptional items and tax at Rs 262 crore in Q4 FY21 is higher by 6%, as compared...

Tata Consumer Products (previously known as Tata Global Beverages Limited -TGBL) is an Indian multinational non-alcoholic beverages company and a subsidiary of Tata group. TGBL markets under the major brands like...

Higher tea price impacted standalone gross margin by 840bp YoY to 30%. The consolidated EBITDA margin was impacted by 100bp YoY to 11.8%. Consolidated EBITDA grew 14% YoY on the back of 23% revenue growth. Performance across business segments has improved (Tata Coffee standalone and overseas operations and overseas Tea). India Food and Beverage business showed double-digit volume growth. Factoring in its performance in 3QFY21, we decrease our FY21E EBITDA/adjusted PAT estimates by 6%/2%, but maintain our FY22E/FY23E...

Tata Consumer Products (previously known as Tata Global Beverages Limited -TGBL) is an Indian multinational non-alcoholic beverages company and a subsidiary of Tata group. TGBL markets under the major brands like...