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TATA CONSUMER PRODUCTS LIMITED (TATACONSUM)

₹978.90 -1.27% last close, 16 Oct

📊 NSE: TATACONSUM 🏢 Tea 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, TATA CONSUMER's revenue was ₹5,349 Cr (+51.6% year on year, -1.6% on the previous quarter), and net profit ₹445 Cr (-37.7% year on year); the operating margin was 13.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹5,349	+51.6%	-1.6%
Operating profit	₹724	+107.5%	-8.6%
Net profit	₹445	-37.7%	+4.9%
EPS (₹)	4.31	+27.5%	+1.7%
Operating margin	13.5%	—	—

Full quarterly financials → Results calendar →

TATACONSUM delivery percentage and open interest

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 64.6% of the TATACONSUM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 62.23%. That is close to its usual level. In TATACONSUM futures, open interest fell 2.41% while the futures price fell 1.38%: long unwinding (longs closing out).

64.6%Delivery, 16 Oct

62.23%Own 20-session average

1.1×Volume vs its average

-2.41%Futures open interest

₹978.90NSE close · -1.27%

Delivery in the last 5 sessions: 63.3% · 73.0% · 68.4% · 58.3% · 64.6%

Delivery across the market →F&O open interest →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Tata Consumer Wins ITAT Appeal on Tax Depreciation on Intangibles for AY 2020-21

🟢 POSITIVE ⭐ 4/10

LEGAL 📅 08 Oct 2026, 02:10 PM

Tata Consumer Products Limited received a favorable order from the Income Tax Appellate Tribunal (ITAT), Kolkata Bench, on October 7, 2026. The matter pertained to an appeal against an Assessment Order for AY 2020-21 regarding the claim of tax depreciation on intangibles, where a demand including interest had previously been raised. The exact monetary tax demand involved was not disclosed in the filing. Given Tata Consumer's TTM revenue of ₹20,861 Cr and net worth of ₹17,805 Cr, the resolution removes potential tax liability risks relating to this matter.

Order passed in favour of the Company by ITAT Kolkata on October 7, 2026
Pertains to an Income Tax Assessment Order for Assessment Year 2020-21 first disclosed on June 29, 2024
Dispute related to adjustments made on the claim of tax depreciation on intangibles
Specific tax and interest demand amount was not disclosed in the filing

💡 Track subsequent quarterly financial disclosures or notes to accounts to confirm whether any tax provisions can be written back or if the Income Tax Department appeals to the High Court.

CARE Reaffirms Tata Consumer's CARE A1+ Rating on Rs 1,500 Cr Short-Term Instruments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Oct 2026, 01:17 PM

Tata Consumer Products Limited announced that CARE Ratings Limited has reaffirmed its highest short-term credit rating of 'CARE A1+' for its commercial paper and short-term loan facilities. The total rated amount stands unchanged at Rs 1,500.00 crore. The rated quantum represents roughly 7.7% of the company's TTM revenue of Rs 19,433 crore. This reaffirmation reflects a continuing strong short-term liquidity and low default risk profile.

CARE Ratings reaffirmed 'CARE A1+' rating on commercial paper and short-term loans
Total rated facility amount remains unchanged at Rs 1,500.00 crore
Letter received from CARE Ratings dated September 30, 2026
Rated amount represents ~7.7% of TTM revenue (Rs 19,433 crore)

💡 Track ongoing borrowing costs and commercial paper issuances to verify access to low-cost short-term operational liquidity.

Tata Consumer Allots 5,163 Equity Shares Under ESOP Scheme

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Sep 2026, 11:58 PM

Tata Consumer Products Limited has approved the allotment of 5,163 fully paid equity shares of face value Re. 1 each under its Share Based Long Term Incentive Scheme 2021. Following the allotment on September 10, 2026, the company's paid-up equity share capital increased marginally from Rs. 98,96,90,012 to Rs. 98,96,95,175. The newly issued equity shares will rank pari passu in all respects with the existing shares.

Allotment of 5,163 equity shares of face value Re. 1/- each upon exercise of ESOPs
Paid-up equity share capital increased from Rs. 98,96,90,012 to Rs. 98,96,95,175
Total number of issued shares increased to 98,96,95,175
Issued under TCPL - Share Based Long Term Incentive Scheme 2021

💡 This is a routine administrative allotment under an existing employee incentive scheme; no specific investor action is required.

Tata Consumer acquires additional 5% stake in Capital Foods, taking holding to 80%

🟢 POSITIVE ⭐ 5/10

M&A 📅 01 Sep 2026, 02:53 PM

Tata Consumer Products Limited has acquired an additional 5% equity stake in Capital Foods Private Limited from Wildflower Private Trust on September 1, 2026. Following this transaction, the company's total holding in Capital Foods has increased from 75% to 80%, representing 27,95,533 equity shares of Rs 10 each. This acquisition follows the original board approval from early 2024 to acquire up to 100% of Capital Foods in phases within three years. Consideration value for this 5% tranche was not disclosed in the filing.

Acquired a 5% equity stake in Capital Foods Private Limited on September 1, 2026
Total shareholding in Capital Foods increased to 80%, comprising 27,95,533 equity shares of Rs 10 face value
Residual stake bought out from Wildflower Private Trust per the staged buyout plan
Fulfills part of the 3-year plan announced in Jan/Feb 2024 to acquire up to 100% of Capital Foods

💡 Track the integration timeline and margin contributions of Capital Foods in quarterly results, as well as updates on acquiring the remaining 20% stake.

Tata Consumer Schedules Investor Meetings in Hong Kong on Sep 21-22, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 05:06 PM

Tata Consumer Products Limited has scheduled participation in two institutional investor conferences in Hong Kong. The management will attend the 33rd CITIC CLSA Investors' Forum 2026 on September 21, 2026, followed by the BofA Asia Pacific Conference 2026 on September 22, 2026. The interactions will involve one-on-one and group meetings. The company confirmed that no unpublished price sensitive information (UPSI) will be shared during these interactions.

Participation in 33rd CITIC CLSA Investors' Forum 2026 on September 21, 2026 in Hong Kong
Participation in BofA Asia Pacific Conference 2026 on September 22, 2026 in Hong Kong
Format includes one-on-one and group meetings with institutional investors
Company affirmed that no unpublished price sensitive information (UPSI) will be shared

💡 Track any post-meet presentations or disclosures uploaded by the company following the conferences for operational strategy updates.

Tata Consumer Issues KYC Update Communication to Identified Shareholders

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 21 Aug 2026, 04:23 PM

Tata Consumer Products Limited has issued communications to identified shareholders in compliance with SEBI Master Circular dated February 6, 2026 regarding KYC requirements. This is a standard regulatory compliance filing under Regulation 30 of SEBI Listing Regulations. The filing has zero financial or operational impact on the company's business or earnings.

Issued intimation under Regulation 30 of SEBI LODR Regulations on August 21, 2026
Communication sent to identified shareholders following SEBI Master Circular dated February 6, 2026
Filing is purely administrative concerning shareholder KYC details

💡 Identified physical or demat shareholders should verify their KYC status with the RTA; no operational or commercial action is required for equity investors.

61/100 ESG Rating: Tata Consumer Products Receives Unsolicited NSE Sustainability Score

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 11 Aug 2026, 12:18 PM

Tata Consumer Products Limited has disclosed its ESG ratings as assigned by NSE Sustainability Ratings & Analytics Limited for the last two fiscal years. The company received a score of 61/100 for FY 2025-26, compared to 63/100 for FY 2024-25. Crucially, these are unsolicited ratings based on public domain data, as the company did not formally engage the rating agency. While ESG scores are relevant for institutional investors, this marginal 2-point decline is unlikely to impact core operations or financial performance.

ESG rating for FY 2025-26 stands at 61/100
ESG rating for FY 2024-25 was 63/100, indicating a 2-point decrease
Rating communicated to the company on August 10, 2026
Assessment was conducted independently by NSE Sustainability using public domain data without company engagement

💡 Investors should monitor the company's next Business Responsibility and Sustainability Report (BRSR) to see if improved disclosures address the factors leading to this marginal rating decline.

Tata Consumer schedules 4 institutional investor conferences for August-September 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Aug 2026, 12:44 PM

Tata Consumer Products Limited has disclosed its schedule for four upcoming institutional investor conferences between August 19 and September 22, 2026. The company will participate in events hosted by Motilal Oswal, Elara India, Jefferies, and J.P. Morgan in Mumbai and Gurgaon. These meetings will consist of one-on-one and group interactions. The company explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during these sessions.

Participation in 4 major institutional investor conferences scheduled over a 35-day period.
First meeting at the Motilal Oswal 22nd Annual Global Investor Conference on August 19, 2026.
Final scheduled interaction at the J.P. Morgan India Conference on September 22, 2026.
Meetings will include both one-on-one and group formats across Mumbai and Gurgaon locations.

💡 Investors should look for any updated investor presentations or transcripts released on the exchange following these dates for insights into the integration of Capital Foods and Organic India.

Tata Consumer to Participate in ICICI Securities CIO Round Table on August 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Aug 2026, 04:08 PM

Tata Consumer Products Limited (TATACONSUM) has scheduled a group meeting with analysts and institutional investors for August 7, 2026. The company will be participating in the ICICI Securities CIO Round Table held in Mumbai. This is a routine regulatory disclosure under SEBI (LODR) Regulations. The company has clarified that no unpublished price sensitive information (UPSI) will be shared during the session.

Participation in the ICICI Securities CIO Round Table scheduled for August 7, 2026
Intimation provided on August 6, 2026, following recent confirmation of participation
Company maintains a significant market capitalization of Rs 1,30,381 Cr
TTM Revenue stands at Rs 17,613 Cr with an operating profit margin of 13.9%
Growth business portfolio (Sampann, Soulfull, etc.) recently reported 76% YoY growth

💡 Investors should monitor the company's website for any post-event presentations or transcripts to gauge management's outlook on commodity price volatility (Tea/Coffee) and the integration of recent acquisitions like Capital Foods.

Allotment of 38,054 Equity Shares under ESOP Scheme

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Jul 2026, 06:16 PM

Tata Consumer Products Limited (TCPL) has allotted 38,054 equity shares of Re. 1 each to employees under its Share Based Long Term Incentive Scheme 2021. This allotment, approved on July 30, 2026, increases the total paid-up equity capital from Rs. 98,96,51,958 to Rs. 98,96,90,012. The dilution resulting from this issuance is negligible, representing approximately 0.0038% of the total share capital. These shares will rank pari passu with existing equity shares.

Allotment of 38,054 fully paid equity shares approved on July 30, 2026
Shares issued at a face value of Re. 1/- each under the 2021 Incentive Scheme
Paid-up equity capital increased to Rs. 98,96,90,012 from Rs. 98,96,51,958
Total number of equity shares now stands at 98,96,90,012

💡 This is a routine administrative filing. No specific action is required from investors as the equity dilution is immaterial.

12% Revenue Growth in Q1 FY27; Growth Businesses Now 36% of India Revenue

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 28 Jul 2026, 06:11 PM

Tata Consumer Products reported a 12% YoY revenue growth to ₹5,349 Cr for Q1 FY27, with net profit rising 29% to ₹427 Cr. The company's 'Growth Businesses' (Sampann, RTD, Capital Foods, Organic India) were the primary drivers, growing 47% YoY and now accounting for 36% of India business revenue. While India Tea revenue declined 4% due to price pass-throughs of lower costs, Salt revenue grew 7% supported by a June price hike. EBITDA margins expanded by 70 bps to 13.6%, reflecting improved operational efficiencies and the integration of high-margin acquisitions.

Consolidated revenue grew 12% YoY to ₹5,349 Cr, with India business delivering 13% underlying volume growth.
Net profit increased 29% to ₹427 Cr, while EBITDA grew 19% with margins expanding to 13.6%.
Growth businesses scaled significantly, growing 47% YoY and now contributing 36% of India revenue compared to 18% previously.
Capital Foods and Organic India contributed ₹232 Cr and ₹118 Cr respectively, maintaining healthy gross margins near 50%.
India Salt revenue grew 7% following a price increase for the core product from ₹30 to ₹32 in June.

💡 Watch for the company's ability to maintain margins as tea inflation is currently trending at 7-10%, and monitor the continued scaling of the high-margin Capital Foods and Organic India portfolios.

Tata Consumer Products Releases Audio Recording of Q1 FY27 Earnings Call

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Jul 2026, 10:13 PM

Tata Consumer Products has published the audio recording of its Analysts/Investors Call held on July 24, 2026. The call discussed the unaudited financial results for the quarter ended June 30, 2026, which were approved by the Board on the same day. This is a standard regulatory compliance filing under SEBI LODR Regulations. Investors can access the recording via the company's website to gain insights into management's commentary on the quarter's performance and future outlook.

Audio recording of the analyst call held on July 24, 2026, is now available.
The call pertains to the unaudited financial results for the quarter ended June 30, 2026.
The recording link is hosted on the company's official investor relations portal.
TTM revenue for the company stands at Rs 17,613 Cr as of the latest available data.

💡 Investors should review the recording for management commentary on commodity price volatility (Tea/Coffee) and the growth trajectory of the 'Growth Business' portfolio, which previously grew 76% YoY.

12% Revenue Growth in Q1FY27; Growth Businesses Scale to 36% of India Portfolio

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 24 Jul 2026, 04:08 PM

Tata Consumer Products reported a 12% YoY revenue growth to ₹5,349 Cr for Q1 FY27, driven by a 47% surge in its 'Growth Businesses' (Sampann, RTD, Soulfull, etc.). While the core India Tea segment saw a 4% revenue decline due to price pass-through of lower costs, the Salt business grew 7% in both volume and value. Consolidated EBITDA margins expanded by 70 bps to 13.6%, leading to a 29% increase in Group Net Profit to ₹427 Cr. The company is successfully diversifying, with non-core growth segments now contributing over a third of India revenues.

Consolidated Revenue grew 12% YoY to ₹5,349 Cr, with India business underlying volume growth at 13%.
Growth Businesses now contribute 36% of India revenue, a significant jump from 28% in the same quarter last year.
Tata Sampann delivered 58% revenue growth, while Ready-to-Drink (RTD) revenue grew 41%.
Consolidated EBITDA increased 19% to ₹730 Cr, with margins improving from 12.9% to 13.6% YoY.
Capital Foods and Organic India combined revenue reached ₹350 Cr (₹232 Cr and ₹118 Cr respectively) with a 49% gross margin.

💡 Watch for the continued scaling of the 'Growth Businesses' and the margin trajectory as the company integrates Capital Foods and Organic India. Monitor global coffee price trends which impacted the non-branded segment realizations by -10% in constant currency.

29% Profit Growth in Q1 FY27; India Branded Volume Up 13%

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 24 Jul 2026, 04:04 PM

Tata Consumer Products delivered a strong Q1 FY27 with revenue growing 12% YoY to ₹5,349 Cr and net profit rising 29% to ₹427 Cr. The India branded business saw a robust 13% underlying volume growth, although tea revenue was slightly lower as cost benefits were passed to consumers. A key highlight is the 'Growth Businesses' (Sampann, RTD, etc.), which grew 47% and now contribute 36% of India revenue. International business grew 16% in INR terms, while Starbucks reached a total of 498 stores.

Consolidated Net Profit grew 29% YoY to ₹427 Crores for the quarter.
India Branded Business achieved 13% underlying volume growth, showing strong consumer demand.
Growth businesses (Sampann, RTD, Soulfull, etc.) grew 47% and now represent 36% of India revenue.
Tata Sampann recorded exceptional revenue growth of 58% across multiple categories.
Consolidated EBITDA for the quarter stood at ₹730 Crores, up 19% YoY.

💡 Monitor the sustainability of the 13% volume growth in the India business and the margin impact as 'Growth Businesses' scale to a larger portion of the portfolio. Watch for the integration efficiency of recent acquisitions like Capital Foods and Organic India.

14% Revenue Growth for Tata Consumer in Q1 FY27; Standalone PAT Flat at Rs 714 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 24 Jul 2026, 03:57 PM

Tata Consumer Products reported a 14.1% YoY increase in standalone revenue to Rs 4,028.32 Cr for the quarter ended June 30, 2026. Despite the top-line growth, standalone Net Profit remained stagnant at Rs 714.27 Cr compared to Rs 713.96 Cr in the previous year, impacted by higher operating expenses and coffee cost inflation. Consolidated operating margins showed improvement, rising to 10.56% from 9.76% YoY. The India Branded business segment profit saw a significant jump of 36% YoY, reaching Rs 606.06 Cr.

Standalone Revenue from Operations grew 14.1% YoY to Rs 4,028.32 Cr.
Standalone Profit After Tax (PAT) remained flat at Rs 714.27 Cr vs Rs 713.96 Cr YoY.
Consolidated Operating Margin improved by 80 basis points to 10.56%.
India Branded Business segment results increased 36.2% YoY to Rs 606.06 Cr.
Consolidated Debt-Equity ratio remains low at 0.14, indicating a strong balance sheet.

💡 Investors should monitor the margin trajectory as the company balances tapering tea costs against rising coffee price inflation. Watch for the continued scaling of 'Growth Businesses' like Tata Sampann and Soulfull, which are key to long-term premiumization.

View All TATACONSUM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 18% YoY to ₹4,966 Cr in Q2FY26. Segment growth: India Business grew 18% to ₹3,122 Cr; International Business grew 15% to ₹1,288 Cr; Non-branded business grew 28% to ₹590 Cr. For H1FY26, consolidated revenue was ₹9,745 Cr, up 14% YoY.

Geographic Revenue Split

India Branded business contributed 71% of total branded revenue (₹3,122 Cr) in Q2FY26, while International Branded business contributed 29% (₹1,288 Cr). Historically, India branded business accounted for ~63% of consolidated revenue in FY23.

Profitability Margins

Consolidated EBITDA margin stood at 13.6% in Q2FY26, expanding 70 bps sequentially. However, H1FY26 EBITDA margin was 13.2%, a contraction of 200 bps YoY. India business EBITDA grew 33% in Q2FY26 with a margin expansion of 180 bps, while International margins contracted by 400 bps due to lower gross margins.

EBITDA Margin

Consolidated EBITDA for Q2FY26 was ₹675 Cr, up 7% YoY. H1FY26 EBITDA was ₹1,291 Cr, down 1% YoY. The decline in H1 was primarily driven by adverse gross margins in International and Non-Branded businesses, partially offset by 11% EBITDA growth in the India business.

Capital Expenditure

Not explicitly disclosed in INR Cr for future periods; however, the company completed major acquisitions including Capital Foods (75% stake) in FY24 and Organic India (100% stake) in FY25 to expand its growth portfolio.

Credit Rating & Borrowing

ICRA reaffirmed [ICRA]A1+ rating. Interest coverage ratio was 19.0 times in 9M FY2024. Total debt/OPBDIT stood at 0.9 times in FY2023. The company maintains a comfortable financial risk profile with a net cash surplus of ₹968 Cr as of September 30, 2025.

⚙️ Operational Drivers

Raw Materials

Tea and Coffee are the primary raw materials. Tea gross margins are targeted at 34-36% of revenue. Coffee price volatility acts as a significant headwind, particularly impacting the US and non-branded segments.

Import Sources

Sourced globally including India (Tea/Coffee), Vietnam, and Brazil (Coffee). International operations span the UK, US, Canada, and Australia.

Key Suppliers

Not specifically named in the documents, though the company operates its own plantations and sources from third-party estates and auctions.

Capacity Expansion

Current reach extends to 275+ million households in India. Distribution expansion is a key driver, with growth businesses (Sampann, Soulfull, etc.) increasing their contribution to India Business from 18% to 28% YoY.

Raw Material Costs

Tea costs were significantly inflated in Q1FY26, leading to flat H1 EBITDA. Procurement strategy involves maintaining a 34-36% gross margin range for tea to balance market share and profitability.

Manufacturing Efficiency

Efficiency is driven by innovation, with 25 new product launches in Q2FY26 and 41 launches in the previous year to maintain a competitive edge.

Logistics & Distribution

Distribution reach is a core metric; the company aims for outlet-to-outlet retail distribution for high-margin brands like Capital Foods, which is more labor-intensive than wholesale-driven salt distribution.

📈 Strategic Growth

Expected Growth Rate

14-18%

Growth Strategy

Growth will be achieved through the 'Growth Business' portfolio (Tata Sampann, RTD, Soulfull, Capital Foods, Organic India) which grew 76% YoY. Strategy includes full-portfolio distribution, premiumization in Salt (Value-added salts grew 23%), and aggressive innovation (25 launches in Q2).

Products & Services

Packaged tea, branded salt, pulses, spices, ready-to-drink beverages (Tata Copper+), breakfast cereals, snacks, and organic health products.

Brand Portfolio

Tata Tea, Tetley, Tata Salt, Eight O'Clock Coffee, Tata Sampann, Tata Soulfull, Ching's Secret, Smith & Jones, Organic India, Tata Copper+.

New Products/Services

25 new product launches in Q2FY26. Growth businesses now contribute 28% of India business revenue, up from 18% in the previous year.

Market Expansion

Focus on deepening India reach (275m+ households) and scaling the International branded business which grew 15% in Q2FY26.

Market Share & Ranking

Maintains market leadership in branded salt in India. Tea business growth was muted due to competition from regional/local players.

Strategic Alliances

Acquired 75% of Capital Foods and 100% of Organic India to enter the pantry and health/wellness categories.

🌍 External Factors

Industry Trends

Shift toward premiumization and health-conscious products. The industry is seeing a re-emergence of regional players in the tea segment, forcing national players to focus on distribution and brand strength.

Competitive Landscape

Faces competition from regional tea brands and established FMCG players in the foods and pantry segment.

Competitive Moat

Moat is built on the 'Tata' brand trust, a massive distribution reach of 275m+ households, and a diversified portfolio ranging from daily essentials (Salt) to high-margin growth brands (Organic India).

Macro Economic Sensitivity

Highly sensitive to commodity price cycles (Tea/Coffee) and rural demand in India. Inflation in tea costs significantly impacted Q1FY26 margins.

Consumer Behavior

Increasing preference for branded pulses/spices (Sampann) and ready-to-drink functional beverages (Tata Copper+ which grew 36%).

Geopolitical Risks

Exposure to international markets (UK, US, Canada) makes the company sensitive to global supply chain disruptions and trade policies.

⚖️ Regulatory & Governance

Industry Regulations

Strict adherence to FSSAI norms in India and international food safety standards. Impacted by GST disruptions in late Q2/early October 2025.

Environmental Compliance

Diligently complies with food safety measures and evolving regulations on packaging and sustainability.

Taxation Policy Impact

Effective tax rate impacted by non-taxable dividends from subsidiaries and one-time credits from mergers in previous periods.

⚠️ Risk Analysis

Key Uncertainties

Volatility in coffee prices (headwind for US/Non-branded) and tea price fluctuations (impacted Q1 margins). Potential for market share loss if pricing exceeds competitive levels.