Tata Consumer Products (TCPL) delivered a robust Q2 FY27

Operating Performance Operational efficiency and scale drove healthy margin expansion. EBITDA increased 16.5% YoY to ₹783 crore, beating the expected ₹775 crore. Consequently, the EBITDA margin expanded by 34 basis points to 13.84%, reflecting improved realization and cost management despite broader macroeconomic volatility. Domestic Market & Portfolio Transformation The core India Branded Business anchored the quarter with a solid 11% underlying volume growth. TCPL’s strategic portfolio transformation is accelerating, with its designated "growth businesses" expanding 40% YoY, now accounting for 38% of the total India business. Key segmental highlights include: Tata Sampann & RTD: Tata Sampann registered exceptional 57% revenue growth across pulses, spices, and new categories. The Ready-to-Drink (RTD) beverage portfolio surged 47% on the back of expanded distribution and premiumization. Core Staples: Tata Salt achieved 15% revenue growth driven by strong volume gains. Domestic tea volumes remained flat due to weak category demand, though pricing interventions helped stabilize value realization. Acquisitions: Capital Foods and Organic India delivered 15% consolidated revenue growth. Domestic revenue for these brands jumped 24%, counterbalancing export delays caused by global logistics disruptions. International Operations & Joint Ventures The international segment posted a mixed performance, with reported revenue up 7% YoY but down 2% in constant currency terms, primarily due to a high base and unseasonably warm weather affecting UK tea consumption. However, Tetley outpaced the broader UK tea category, and the Canadian division gained market share. Tata Starbucks executed one of its strongest quarters recently, with revenue growing 15% fueled by a multi-quarter high in same-store sales. The joint venture expanded its footprint by 7 net new stores, bringing the total network to 505 locations across 81 Indian cities.