Tata Consumer Products reports 8% YoY EBIT growth after 3-quarter decline; driven by strong India branded performance

Tata Consumer Products (TATACONS) reported an ~8% YoY growth in EBIT, marking a turnaround after three consecutive quarters of decline. The improvement was driven by the India Branded segment, which delivered a robust 47% YoY growth in EBIT, offset partially by declines of 12% YoY in International Beverages and 28% YoY in Non-Branded businesses. The core India business continued its momentum, recording a second consecutive quarter of double-digit growth in both tea and salt. Tea: Revenue up 12% YoY, with 5% volume growth. Salt: Revenue up 16% YoY, with 6% volume growth. Outlook: We expect TATACONS to deliver a CAGR of 9%/12%/16% in revenue/EBITDA/PAT during FY25–28, supported by strong execution in core categories, premiumisation, and portfolio diversification. Valuation: We reiterate BUY with an SoTP-based target price of INR 1,450, implying further upside potential. #TataConsumer #EarningsUpdate #FMCG #Tea #Salt #EarningsGrowth #StockMarket #TATACONS #IndiaConsumption #StockYardResearch