24 Apr 2023 , 10:23 AM
Result date: 25th April, 2023
Recommendation: Add
Target price: Rs 760
Tata Consumer Products is likely to put up a mixed performance for the March 2023 quarter. Analysts at IIFL Securities believe the company’s tea business could witness low-to-mid-single digit volume growth, but marginally positive in value terms. The Salt and Sampann portfolio is expected to witness low double-digit volume growth during the quarter. NourishCo should continue its momentum and deliver strong growth in the quarter. Overall, domestic business is likely to perform well even as international business lags behind.
Sales growth is expected at ~10%, whereas EBITDA growth is expected to be ~2% as compared to the year-ago quarter.
The company’s Profit After Tax or PAT though could decline 2.9% over the year-ago quarter.
Important management insights to watch out for:
Rs Million |
March 2023 estimates |
YoY change |
Revenue |
35,085 |
10.5% |
EBITDA |
4,543 |
2.3% |
Profit After Tax |
2,248 |
(2.9)% |
Source: IIFL Research
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