ICICI Direct's research report on Tata Consumer Products
Tata Consumer Products (TCPL) is one of the major FMCG companies present in tea, coffee & other beverages in India, UK, US, Canada and some other geographies. In India, it also has salt, pulses, spices & other food products. Its subsidiary NourishCo is present in packaged water & other beverages. The company is in a JV with Starbucks, which has 233 stores in India. The company has 1500 distribution directly reaching to 1.1 million outlets in India. This will be increased to 1.3 million outlets by March 2022 TCPL is also increasing its rural presence by increasing rural distributors to 5000 by March 2022
Outlook
We continue to maintain our BUY rating on the stock We value the stock at Rs 910 on ascribing 56x FY24 earnings multiple
For all recommendations report, click here
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