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 foods products. Its subsidiary NourishCo is present in packaged water & other beverages. The company is in JV with Starbucks, which has 333 stores in India • The company has 2000+ distribution directly reaching to 1.5 million outlets in India. Its total distribution reach is 3.8 million outlets.
Outlook
We maintain our BUY rating on the stock. We value the stock at Rs 980 on ascribing 52x FY25 earnings multiple.
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