9 Aug 2022 , 03:33 PM
Result date: 10th August
Recommendation: Add
Target Price: Rs840
Analysts at IIFL Securities forecast a flattish growth for the domestic tea business of Tata Consumer Products in the June 2022 quarter. This is because of the intense summer (leading to low single digit volume growth) and deflation in the prices of tea (passed on by the company). Salt business of the company is expected to grow in high teens in the quarter. This growth will be driven by increase in prices rather than volume. NourishCo business of the company is expected to do well this quarter because of demand momentum and a favorable base effect. Eight O' Clock business is also likely to post growth in double digits because of low base of the year-ago quarter. International tea business is forecasted to register growth in mid to high single digits in the June quarter.
Revenue of Tata Consumer Products in the June quarter is forecasted at Rs33,204 million. This will be a y-o-y growth of 10.4%. Profit After Tax (PAT) is forecasted at Rs2,973 million. This will be a y-o-y growth of 58.2%.
Key management insights to look into:
Rs. Million | June 2022 estimates | Y-o-Y |
Revenue | 33,204 | 10.4% |
EBITDA | 4,383 | 9.7% |
Profit After Tax | 2,973 | 58.2% |
Source: IIFL Research
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