Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Tata Consumer Products Ltd announces results for the quarter ended 30th June 2020

Posted On: 2020-08-04 07:32:10


Tata Consumer Products Ltd. today announced its results for the quarter ended June 2020.

For the quarter, Revenue from operations is higher by 13% (11% in constant currency) as compared to corresponding quarter of the previous year led by volume and value growth in branded businesses both in India and International. EBITDA at Rs 486 crores and Profit before exceptional items and tax at Rs 436 Crores is higher by 37% and 42% respectively, as compared to corresponding quarter of the previous year, mainly on account of higher revenue and lower level of expenditure including commodity costs.

The Company along with its subsidiaries and affiliates continues to manufacture and supply essential food and beverage items in domestic and international markets in the current COVID environment. The demand for the food and beverage products for in home consumption was buoyant, whereas segments in out of home consumption were adversely impacted. Based on the trends observed, there is some tapering off of demand across geographies and significant hardening of commodity costs in India. Impact on future operations would to a large extent depend on how the pandemic develops.

Some of the key Business updates are:

India update

- For the Quarter, the India branded tea business clocked a 4% volume growth and 8% value growth, despite the decline in the month of April, when the lockdown had just begun.

- Tata Tea Chakra Gold launched an innovative Crowd-funding campaign in Tamil Nadu to garner support for the Hot Tea Shop segment currently struggling financially due to Lockdown and COVID impact. The brand recorded good growth in Q1.

- For the Quarter, the India Foods business clocked an 8% volume growth and 19% value growth. There has been excellent growth across pulses and spices, due to significant increase in demand. The salt portfolio recorded steady growth during the Quarter.

- Post the merger of the consumer product business of TATA Chemicals with TATA Consumer, a new combined organisation structure has already been announced and implemented.

- As part of the integration of the foods and beverages businesses in India, the combined Sales and Distribution re-design is underway. The objective of the redesign is to expand direct reach and enable effective revenue and cost synergies.

International Update

- During the Quarter, the International Beverages business registered a 15% revenue growth, driven by improvements in retail and online sales due to COVID related stocking across our key markets.

- The Good Earth Fruit and Herbals range was launched in UK with the aim of creating new teas and beverages for a new generation of consumers. The portfolio includes a range of fruit & herbal, green and black teas and original and flavoured kombucha (a gently carbonated tea).

- Eight O' Clock Coffee (EOC) in the USA registered growth across its portfolio. Its recent innovations such as EOC Barista series, Flavors of America and new SKUs in K cups have achieved distribution gains.

- Tetley Cold Infusions, a range specially formulated to brew in cold water, was launched in Canada and has received good consumer feedback.

Tata Starbucks Update

- Tata Starbucks' operations for Q1 were adversely impacted due to COVID 19. As of June 30th 2020, close to 60% of the total 186 stores have reopened.

- It also launched its first drive-thru store in India at the Ambala Chandigarh Expressway in Zirkapur. The drive-thru format offers added convenience for customers who want to pick up their orders from their car, or travellers on the go.

Sunil D'Souza, Managing Director & CEO of Tata Consumer Products said "We have recorded good revenue and profit growth in Q1 due to increased demand in some categories, strong marketing campaigns and adopting new routes to reach the end consumer effectively. The integration of our foods and beverages businesses in India is progressing well and will unlock significant synergy benefits. In our international markets, we are investing behind our core brands and driving innovations in the tea and coffee segment. We are also strengthening key processes across the organization to scale up capability and build a future ready organization."

Shares of Tata Consumer Products Ltd was last trading in BSE at Rs.449.75 as compared to the previous close of Rs. 434. The total number of shares traded during the day was 325692 in over 6768 trades.

The stock hit an intraday high of Rs. 452.3 and intraday low of 436.4. The net turnover during the day was Rs. 144972331.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

ITC Ltd increases stake in Delectable Technologies Pvt Ltd

PNB associate bank, JSC Tengri Bank's License revoked

ITC Ltd.'s Sunfeast YiPPee!'s 10th Anniversary celebrations make a GUINNESS WORLD RECORDS® achievement

RITES Ltd board approves buy back through tender offer at Rs. 265

Route Mobile Limited shares to list on Monday - Sep 21, 2020

Mysore Petro Chemicals Limited to write-off GBP 770,000

Somany Ceramics adds a dash of style at T2, Mumbai Airport.

United Spirits Ltd announces resignation of CFO

Lords Chloro Alkali Ltd posts loss of Rs. 1.08 crore in Q1FY21

Zydus Cadila receives final approval from USFDA for Potassium Chloride Extended-Release Tablets

ICRA upgrades rating of Escorts Ltd

Bhatia Mobile to Migrate to main board of BSE

Avantel Ltd receives order of Rs. 15.97 crore from Bharat Electronics Ltd

Magna Electro Castings Ltd board approves buy back at Rs. 175

TATA Tea Chakra Gold Becomes Official Tea Partner for Chennai Super Kings in IPL 2020

Tiger Logistics India Limited provides future Business Outlook

Dr. Reddy's Laboratories announces settlement of U.S. Revlimid® Capsules patent litigation with Celgene

TVS Motor Company expands and strengthens its presence in Colombia

ICICI Securities successfully closes ~INR 6,000 mm IPO of Route Mobile Limited

EIH Limited approves rights issue, fixes Sep 23, 2020 as record date

Hindalco and Hindustan Copper sign MoU for supply of copper concentrate

Kilpest India Limited to merge subsidiary with itself, change name as 3B BlackBio Dx Ltd

Sterling and Wilson Solar Limited Signs order of 106.71 MW worth USD 62.6 mn in Chile

South Korea donates One lakh masks to TVS Motor Company for free distribution to aid India's fight against COVID-19

TCS Recognized as a Leader in Cloud-Native Application Development Services by Everest Group

Power Grid Corporation of India Ltd receives approval for setting up of InvIT

Mahindra Happinest® sells 100+ homes online within a week at 'Happinest Palghar'

Ramco Systems signs agreement with Arla Foods

IRCON International Ltd secures order worth Rs. 1900 crore

Phoenix Group Partners with TCS to Introduce Enhanced Analytics for Workplace Pension Clients

L&T Construction secures order from Northern Coalfields Ltd

Dr. Reddy's announces the launch of Over-the-Counter Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% and 0.1%, the store-brand equivalent of Pataday®, the Eye Allergy Drop in the U.S. Market

Ashok Leyland receives an order for 1400 ICVs from Procure Box

PTC India Financial Services Ltd receives Rs. 115.57 crore IT refund

Thomas Cook India & SOTC partner with India's favourite storyteller Amar Chitra Katha

Shankar Lal Rampal Dye-Chem Ltd Board to consider Bonus Issue of Equity Shares

Dhanuka Agritech Ltd fixes Sep 28, 2020 as record date for buy-back

Sterling and Wilson Solar Limited declares financial results for quarter ending 30th June 2020

JMC secures new orders of Rs. 1,342 Crores

ABM Knowledgeware Ltd bags Rs 127.44 Crores order for SAP Technology Modernization

Titan Company with SBI launches India's first contactless payment watches

Bajaj Consumer Care Joins hand with IndiaMART, to enhance their digital presence in B2B market segment

ICICI Securities successfully closes ~INR 7,020 mm IPO of Happiest Minds Technologies Limited

The Bank of Bahrain and Kuwait goes live with iGTB's Contextual Digital Transaction Banking platform to support growth

HCL and Google Cloud Expand Partnership to Deliver Accelerated Business Intelligence Platform

CARE Ratings reaffirms 'CARE A-' rating with stable outlook for Jindal Stainless (Hisar) Limited

CRISIL upgrades long term outlook of Deepak Nitrite Ltd

HSIL Ltd Board to consider Buyback of equity shares

Subex launches Partner Ecosystem Management platform

ICRA assigned Credit Rating for Rs. 395.00 crore Line of Credit of Action Construction Equipment Ltd







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019