ICICI Securities: Tata Consumer’s Transformational Journey Has Well Begun

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Tata Consumer Products Ltd.’s volumes grew 4% and 8%, respectively in Q1, a top decile performance in Consumer Staples.Drivers are (1) focus on distribution expansion and increase in direct reach, (2) Higher in-home consumption of beverages leading to market share gains for Tata Tea and (3) rising acceptance of packaged food brands like Tata Sampann. There is gradual improvement in Starbucks business activities with 60% stores open now.Tata Consumers reported revenue, Ebitda and profit after tax growth of 13.4%, 37.6% and 42.1%, respectively. Constant currency growth was 11%. Segment-wise revenue growth rates: India Beverages 11%, India Foods 18.9% and International Beverages 15%.Stocking due to Covid-19 resulted in strong revenue growth of International Beverages. Gross and Ebitda margin improved 180 basis points and 310 basis points due to higher revenues of branded products and deflation in commodity prices. Standalone revenues and PAT were up 9.7% and 55.8%, respectively..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: Tata Consumer’s Transformational Journey Has Well Begun

ICICI Securities: Tata Consumer’s Transformational Journey Has Well Begun

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