you are here: HomeNewsBusiness

Buy Tata Consumer Products; target of Rs 685: Sharekhan

Sharekhan is bullish on Tata Consumer Products has recommended buy rating on the stock with a target price of Rs 685 in its research report dated February 02, 2021.

February 09, 2021 / 10:31 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Tata Consumer Products

Tata Consumer Products Ltd (TCPL) Q3FY2021 was a mixed bag, as revenues grew by ~23%, but gross margins declined by 574 bps, synergistic benefits and efficiencies resulted in just a 99 bps decline in OPM to 11.8%. India beverages business grew by 46%; India foods revenues rose by 19%, US Coffee by 11% and International tea by 14%. Acquisition of Soulfull will add value to India foods business with ‘better for you’ products. Out-of-home businesses NourishCo and Tata Starbucks have seen substantial improvement and will add-on to growth in the coming quarters.


We have fine-tuned earnings estimates for FY21/22/23 to factor in higher-than-expected revenue growth and lower OPM. We maintain a Buy with unchanged PT of Rs. 685.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 9, 2021 10:31 pm

stay updated

Get Daily News on your Browser