Buy Tata Consumer Products, target price Rs 950: ICICI Direct

ICICI Direct has buy call on Tata Consumer Products with a target price of Rs 950. The current market price of Tata Consumer Products is Rs 732.55.

Tata Consumer Products , incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 68751.51 Crore) operating in FMCG sector.

Tata Consumer Products Ltd. key Products/Revenue Segments include Tea, Other Operating Revenue, Royalty Income, Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 3392.36 Crore, up .90 % from last quarter Total Income of Rs 3362.17 Crore and up 10.40 % from last year same quarter Total Income of Rs 3072.74 Crore. Company has reported net profit after tax of Rs 354.98 Crore in latest quarter.

The company’s top management includes Mr.N Chandrasekaran, Mr.Sunil D�Souza, Mr.L Krishnakumar, Mr.P B Balaji, Mr.David Crean, Mr.Bharat Puri, Mrs.Shikha Sharma, Mr.Siraj Chaudhry, Dr.K P Krishnan. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2022, the company has a total of 93 Crore shares outstanding.

Investment Rationale
Strong innovation & premiumisation strategy in salt, tea, Sampann & Soulful in the Indian market are expected to drive sales & margins.