Tata Consumer Q1 Review - The 'Show Me Story' Continues With Minor Breaks In Profitability: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.While Tata Consumer Products Ltd. had not-so-easy macros to tackle (including (abnormally) high input inflation) in India and higher base in international (pantry up-stocking in Q1 FY21), it continued to gain market shares. It gained 170 basis points market shares in India tea and 370 bps in salt.It also gained shares in regular and specialty tea in Canada. While near-term impact of steep inflation in input prices is unavoidable, we highlight that market share gains are discounted cash flow-accretive. We model it to gain market shares in FY21-23 due to-expansion of direct coverage and strengthening of rural distribution,differentiated launches and premiumisation (premium salt grew 34% in Q1 FY22). Tata Consumer has largely completed integration of Soulfull with expansion of general trade outlet reach by three times. .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 author entity 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.

Tata Consumer Q1 Review - The 'Show Me Story' Continues With Minor Breaks In Profitability: ICICI Securities

Tata Consumer Q1 Review - The 'Show Me Story' Continues With Minor Breaks In Profitability: ICICI Securities

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