India · Delayed Price · Currency is INR Tata Consumer Products Earnings Call Transcripts
Fiscal Year 2026
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Q4 revenue grew 18% year-over-year, with strong India and international performance. EBITDA margin expanded to 14.6% in Q4, and management expects double-digit top-line growth and further margin expansion in FY 2027. Sampann and salt segments delivered robust growth.
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Q3 FY26 saw 15% revenue growth, strong double-digit gains across India, international, and non-branded segments, and EBITDA up 26% with margin expansion. Growth businesses now contribute 30% of India business, and innovation remains robust with 15 new launches.
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Q2 saw 18% revenue growth, strong double-digit volume gains in India, and robust expansion in growth businesses. Margins are recovering, with EBITDA up 7% and a 13.6% margin, while international and U.S. coffee remain exposed to commodity volatility.
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Double-digit revenue and profit growth were achieved, though EBITDA margin declined due to higher tea and lower coffee prices. Core India businesses performed strongly, while growth businesses faced transitory issues but are expected to recover and deliver 30% growth from Q2.
Fiscal Year 2025
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Q4 revenue grew 17% (12% organic), with strong India foods and beverages performance, but margins were pressured by tea cost inflation. Integration of acquisitions is complete, innovation remains high, and guidance is for continued double-digit growth and margin expansion as input costs normalize.
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Revenue grew 17% year-over-year, with strong performance in India Beverages and Foods, but EBITDA was flat due to tea margin pressure. Margin headwinds from high tea and coffee costs are expected to ease after Q1/Q2, with growth businesses and new channels set to accelerate.
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Q2 FY25 saw 13% revenue growth, led by strong India foods and international segments, while India beverages faced margin pressure from high tea costs. The company is now debt-free, expects further price increases, and anticipates margin improvement as input costs are passed on.
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Revenue grew 16% year-over-year in Q1 FY25, with 23% EBITDA growth and margin expansion. Integration of recent acquisitions is progressing, while strong performance in India Foods and international segments offset challenges from heat waves and commodity volatility.