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Last Updated : Jul 24, 2020 04:47 PM IST | Source: Moneycontrol.com

Buy Tata Consumer Products; target of Rs 484 : Sharekhan

Sharekhan is bullish on Tata Consumer Products has recommended buy rating on the stock with a target price of Rs 484 in its research report dated July 23, 2020.

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Sharekhan's research report on Tata Consumer Products


TCPL will become strong play with integration of Tata Chemicals’ consumer business; share of consistently-performing India business in revenue to rise to 61% from 48%, margins too can rise 60-80 bps in the near term. Appointment of consumer expert Mr. Sunil D’Souza as MD & CEO improves earnings visibility; consolidated revenue and earnings (including TCL’s consumer business) to clock CAGR of 10% and 20% over FY2020-23E. Balance sheet strengthening despite commodity-linked business; FCF rose to Rs. 711 crore in FY2020 from negative Rs. 103 crore in FY2019; debt/equity ratio at 0.1x.


Outlook


Initiating coverage on Tata Consumer Products Limited (TCPL) earlier named Tata Global Beverages with a Buy rating and PT of Rs. 484.




For all recommendations report, click here

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First Published on Jul 24, 2020 04:42 pm
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