Tata Consumer Products Ltd. share price target

Revenue decreased by 3.99% to Rs. 1674.26 Cr in Q4FY17 when compared to the previous quarter.

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...

Tata Global Beverages consolidated revenue grew by ~2.6%/7.1% to Rs.17.4bn YoY/QoQ respectively. The company's EBITDA margin expanded by ~49 bps to 8% YoY. Adjusted PAT grew by ~34% to Rs.953 mn in 3QFY17 vs Rs.710 mn in 3QFY16 led by growth in operating profit,...

Revenue rose by 7.08% to Rs. 1717.96 Cr in Q3FY17 when compared to the previous quarter. Also, it rose by 2.69% when compared with Q3FY16.

ICICI Securities Ltd | Retail Equity Research Tata Global Beverages (TGBL) reported consolidated sales of | 1743.9 crore, up 2.6% YoY. Revenues of the branded division grew marginally by 1.8% (tea grew 2.4% YoY led by volumes but coffee...

ICICI Securities Ltd | Retail Equity Research Tata Global Beverages (TGBL) reported a mixed set of Q2FY17 numbers. Consolidated sales for the quarter declined 2.6% YoY to | 1626.0 crore. The revenue of the branded division declined 2.0% (tea, coffee segments declined 0.3%, 9.6%, respectively). Nonbranded segment also witnessed 1.8% YoY de-growth. Though the underlying witnessed some volume growth, the same got offset by price reductions taken during the quarter and adverse impact of currency translations in the areas under operation...

On the Recovery Path: TGBL reported good performance during the quarter with improvement in topline,Operating profit margins and the bottomline. Total Operating Income increased by3.7% to Rs. 17342 Mn, Operating profits improved by 32.6% to Rs. 2595 Mn and net profits improved by 51.9% to Rs. 1195 mn.

Tata Global Beverages reported good set of results in 1QFY17. Consolidated revenue grew by ~4%/-11% to Rs.17.1bn/Rs.19.2 bn YoY/QoQ. The company’s EBITDA margin expanded by 283/531 bps to ~31%/44% YoY/QoQ. Adjusted PAT was Rs.1178 mn in 1QFY17 vs Rs.814 mn in 1QFY16 led by strong growth in operating profit.BOB Capital Markets Ltd value the stock at an average PE of 23x FY18e EPS with target price Rs.175 (28% upside).

Tata Global Beverages (TGBL) reported muted Q1FY17 sales whereas it performed ahead of our expectations on operational & earnings front. Sales grew 3.8% YoY to | 1711.5 crore (I-direct estimate: | 2125.2 crore) on the back of YoY growth of 20.8% & 17.1% in coffee segment & non branded business respectively. However, tea segment declined by 1.3%. TGBL reported Q1FY17 results as per Ind AS, which led to promotional expenses being netted off from sales, thus resulting in lower topline in absolute terms . EBITDA margins improved 283 bps to 13.8% (I-direct estimate: 8.8%) driven by lower advertising spend (down 247 bps as percentage of sales) & benign commodity cost (down 103 bps as percentage of sales). PAT increased by 51.9% YoY to | 119.5 crore (I-direct estimate: | 89.5 crore) led by higher EBITDA. ICICI Securities Limited value the stock on an SOTP basis arriving at a target price of | 147 & maintain HOLD rating.

ICICI Securities Ltd | Retail Equity Research Tata Global Beverages (TGBL) reported tepid net sales growth of 2.8% YoY to | 1928 crore (I-direct estimate: | 1949.9 crore) mainly...