Motilal Oswal's research report on Tata Consumer Products
Tata Consumer Products (TATACONS) reported ~11% YoY revenue growth, driven by a strong traction in India food business (up 16% YoY) and NourishCo (up 25% YoY). EBIT grew 22% YoY to INR4.4b in 2QFY24 led by a healthy performance of the International business (EBIT up 60% YoY due to pricing interventions and savings from restructuring).
Outlook
We retain our FY24/FY25 EPS estimates. Reiterate BUY with an SoTP-based TP of INR1,040.
For all recommendations report, click here
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