Bangalore: Tata Consumer Products Ltd. (TCPL) reported positive results for the quarter ending December 31, 2023, with revenue growth of 9% and EBITDA growth of 26%.
Key Highlights:
- Revenue: Reached Rs 3,804 crore, driven by strong performance in India (+10%).
- EBITDA: Grew to Rs 576 crore, reflecting efficient operations.
- Profit: Profit before exceptional items rose 27% to Rs 513 crore.
- India Business: Packaged beverages grew 4%, coffee delivered 32% growth, and salt saw volume-led growth with highest ever market share.
- Premiumization: Tata Coffee Grand partnered with Koffee with Karan and launched “Kaapi Pattu” song, while Tata Tea’s “No Compromise” campaign emphasized quality.
- Innovation: Innovation-to-sales ratio remained above 5% in India for the third consecutive quarter.
- Distribution: Reached 3.9 million outlets, with focus on expanding to rural areas.
- International Business: Revenue grew 11% (6% in constant currency), led by strong performance in teapigs, Good Earth, and Joyfull brands.
- Tata Starbucks: Added 22 new stores, reaching 392 across 55 cities.
- Acquisitions: Completed acquisition of Capital Foods (Ching’s Secret, Smith & Jones) and announced Organic India acquisition to expand into high-growth markets.
Sunil D’Souza, Managing Director & CEO of TCPL: “We delivered strong operating performance with a revenue growth of 9% and EBITDA growth of 26%. We are making good progress on our strategic priorities, expanding our reach, driving premiumization, and entering new categories through acquisitions. We are confident of continued growth in the future.”
TCPL is a leading consumer products company offering tea, coffee, water, salt, pulses, spices, ready-to-eat meals, and more. It is the world’s second-largest branded tea company and has a consolidated annual turnover of approximately Rs 13,783 crore.