Tata Consumer Products share price in focus after mixed Q1 results

Tata Consumer Products share price, Tata Consumer Products Q1 results: Shares of the Tata group FMCG company will be in focus in Wednesday's session (July 31) as the company posted mixed quarterly results for the first quarter of FY25. 

Revenue at the company logged 16 per cent growth for the quarter to Rs 4,352 crore against estimates of Rs 4,390 crore. PAT at the company also declined 12 per cent to Rs 314 crore as against estimates of Rs 338 crore. The company reported a decline in consolidated profit on account of exceptional items and a lower share of profits from its associates and joint ventures.

The margin at the company, however, came in higher with margin inching higher by 70 bps to 15.3 per cent in Q1FY25 as against 14.6 per cent in the same quarter last year.

Global brokerages on TCPL

Jefferies maintained hold call on TCPL with the target slashed marginally to Rs 1,190. The brokerage added that the company posted another weak qtr, especially in India business, both on revenue & margins.Tea biz key culprit, with NourishCo also disappointing Salt & Sampann however were bright spots along with International & unbranded segments.

Citi on Tata Consumer Products maintained buy for a target of Rs 1,268- suggesting an upside of over 6 per cent. The company posted mixed Q1 with India beverages biz (tea + NourishCo) a tad underwhelming
Few +ves as well as highlighted by the brokerage are:
a) salt biz (8% vol. growth/9% value growth)
b) other foods biz (34% comparable growth)
c) Int. biz growth (10% YoY)
d) non-branded growth (+33% YoY)

Morgan Stanley continued to remain overweight on the company for a target of Rs 1,288. 
 
JP Morgan on Tata Consumer Products, meanwhile, maintained neutral call on the stock for a target of Rs 1,068.