Salt revenue grew 5% YoY, driven by volume growth of 3% YoY.
International business recorded 5% YoY growth in CC terms in Q4FY24.
Retain ‘BUY’ with a target price of Rs 1,400," said Nuvama.For the quarter, its international business revenue was 5% in constant currency terms.
"Our growth businesses (Tata Sampann, RTD, Tata Soulfull, Tata SmartFoodz) continued their strong growth trajectory with a revenue growth of 40% in FY24.
Tata Starbucks made consistent progress in its expansion agenda with a store footprint spanning 61 cities," Sunil D’Souza, Managing Director & CEO of Tata Consumer Products said.
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Shares of FMCG major Tata Consumer fell up to 5% to day's low to Rs 1,112 on BSE in Wednesday’s trade after its March quarter consolidated net profit fell 19% year-on-year (YoY) to Rs 217 crore. Goldman Sachs has maintained a neutral rating on the stock with a target price of Rs 1,030.Goldman noted that the company's India beverages growth slowed down, partly due to the delayed onset of summer and margins were driven by international and unbranded business.Global brokerage CLSA has also maintained an underperform on the stock with a target price of Rs 1,288.Also read | Tata Consumer Q4 Results: Net profit falls 19% YoY to Rs 217 crore Tata Consumer's India business grew 10% YoY (7% on a like-to-like basis) led by strong growth in the foods business (20% YoY) in Q4FY24. Salt revenue grew 5% YoY, driven by volume growth of 3% YoY. Coffee grew 45% YoY. International business recorded 5% YoY growth in CC terms in Q4FY24. Growth businesses (combined) grew 40% YoY in FY24 and accounted for 18% of India business."TCPL continues to drive growth via innovation, distribution expansion and foray into new segments. Retain ‘BUY’ with a target price of Rs 1,400," said Nuvama.For the quarter, its international business revenue was 5% in constant currency terms. The UK business saw its EBITDA margin touch historic highs led by restructuring initiatives taken during the year."Our growth businesses (Tata Sampann, RTD, Tata Soulfull, Tata SmartFoodz) continued their strong growth trajectory with a revenue growth of 40% in FY24. Tata Starbucks made consistent progress in its expansion agenda with a store footprint spanning 61 cities," Sunil D’Souza, Managing Director & CEO of Tata Consumer Products said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
