Tata Consumer Products Delivers Strong Growth, Announces Acquisitions

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.