Tata Consumer Products; Revenue Rs 3327 Crs up 11%, EBITDA Rs 460 Crs grew by 14%, Net Profit at Rs 277 Crs grew by 38%

Tata Consumer Products Ltd. today announced its results for the quarter ended 30th June 2022.

Tata Consumer Products

Revenue from operations increased by 11% (10% in constant currency) as compared to corresponding quarter of the previous year. Profit before exceptional items and tax at Rs 403 Crores is higher by 19%. Group Consolidated Net Profit at Rs 277 Crores is higher by 38%.

For the quarter, as Tata Consumer Products corrected tea pricing, the India Packaged Beverages business recorded 4% revenue decline on an elevated base that saw 24% revenue growth in the same period last year. It continued to record market share gains in branded tea. Coffee volume grew 43% YoY with revenue growth of 73% during the quarter with new SKU launches and roll out in new geographies.

Tata Tea Teaveda was restaged in line with simplification and consolidation of brands under the Tata Tea Premium Masterbrand architecture. The Kanan Devan tea brand saw outstanding growth led by brand building and on ground execution. Tata Tea released a film on “JaagoRe to Fight Climate Change” with actor Pankaj Tripathi to sensitize people on how we can all take small steps together and help fight against climate change.

For the quarter, the India Foods business registered 19% revenue growth on an elevated base that saw 20% growth in the same period last year.

The salt portfolio continued its momentum and recorded double digit growth during the quarter despite a high base in Q1 last year. The salt portfolio also continued to record market share gains. The premium salts portfolio recorded 36% growth during the quarter, continuing its strong trajectory in line with its premiumisation agenda. Tata Salt Immuno with its category-first unique proposition of added Zinc is being rolled out Nation-wide post encouraging results in the pilot phase.

Tata Sampann relaunched its spices range with new and improved packaging. The relaunch takes a clutter breaking approach with a dialed up chef endorsement and strong shelf throw. The brand also launched bespoke pure spices for the South India market. Tata Sampann’s latest TVC with Manoj Bajpayee builds awareness about Tata Sampann Haldi which has essential oils intact and is sourced from the choicest farms to deliver an enhanced food experience. Tata Sampann dry fruits is scaling up well with positive reviews and higher offtakes across e-commerce. The brand is also expanding across select offline retail outlets.

Tata Consumer Products recently entered the alternate meat segment with the launch of Tata Simply Better- Plant Based Meat (PBM) range. With this new brand, the company is extending its product portfolio into a new category, targeting consumers who are looking to incorporate more plant-based ingredients for health, sustainability or other considerations.

Tata Soulfull delivered strong growth during the quarter. The brand recently expanded its wholesome snacking portfolio with the launch of Tata Soulfull Masala Oats+, a ‘better for you’ offering with oats and millets.

NourishCo sustained strong growth momentum during the quarter with a 110% revenue growth led by strong growth across products and geographies. Himalayan recorded excellent growth and was EBIT positive during the quarter. Capitalizing on the brand’s strong brand equity, it is being extended into a provenance brand with the launch of premium honey and preserves sourced from the Himalayan belt. A new campaign was launched for Tata Copper Water and the franchise has scaled to 2.9x.

The company reached new milestones in our Sales & Distribution transformation agenda. Its wholesale reach is now 2x compared to Q1 last year. It continued to see strong growth in alternate channels, with Modern Trade channel growing 35% YoY and Ecommerce channel now accounting for 8.2% of India business sales, up from 2.5% in FY20.