Tata Consumer Products Sets 63rd AGM for June 10, 2026

6 min read     Updated on 18 May 2026, 06:08 PM
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Tata Consumer Products Limited has filed its Integrated Annual Report for FY 2025-26 and issued the notice for its 63rd Annual General Meeting scheduled for June 10, 2026. The Board has recommended a final dividend of Rs. 10 per equity share, subject to shareholder approval, with a record date of May 25, 2026. The meeting will be held via Video Conference, with remote e-voting commencing on June 6, 2026.

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Tata Consumer Products Limited has filed its Integrated Annual Report for FY 2025-26 with the National Stock Exchange of India Limited, BSE Limited, and The Calcutta Stock Exchange Limited. The filing was made in furtherance of the Company's earlier communication regarding its 63rd Annual General Meeting scheduled for Wednesday, June 10, 2026. In compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, the Company has also dispatched a letter to shareholders whose email addresses are not registered with the Company, Registrar & Transfer Agent, or Depository Participants, providing the weblink to access the Integrated Annual Report on the Company's website. The Integrated Annual Report is additionally available on the NSDL website and the websites of BSE, NSE, and The Calcutta Stock Exchange. Additionally, the Company disclosed a newspaper advertisement published in Business Standard and Aajkaal, informing shareholders about the AGM and e-voting details in compliance with Regulation 30 and 47 of the SEBI Listing Regulations.

Key AGM and Dividend Dates

The company has outlined the following critical timeline for the dividend distribution and AGM process:

Event: Details
63rd AGM Date: June 10, 2026
AGM Time: 10:30 a.m. (IST)
AGM Mode: Video Conference / Other Audio Visual Means
Record Date: May 25, 2026
Last Date for TDS Exemption Forms: May 25, 2026
Dividend Per Share: Rs. 10 (face value Re. 1 each, 1000%)
Financial Year: Ended March 31, 2026
Dividend Payment Start Date: On or after June 15, 2026
Cut-off Date for E-Voting: June 3, 2026
E-Voting Start: June 6, 2026, 9:00 a.m. (IST)
E-Voting End: June 9, 2026, 5:00 p.m. (IST)

The Board has recommended a dividend of Rs. 10 per equity share of face value Re. 1 each (1000%) for the financial year ended March 31, 2026, subject to shareholder approval at the AGM. If approved, the dividend would result in a cash outflow of Rs. 989.56 Crores, representing 60.52% of the Company's standalone net profit for the year. Members holding shares as on Monday, May 25, 2026 (Record Date) will be eligible for the final dividend.

FY 2025-26 Financial Performance

Tata Consumer Products crossed the historic revenue threshold of Rs. 20,000 Crores in FY 2025-26. The following table summarises key consolidated and standalone financial highlights:

Metric: FY 2025-26 FY 2024-25 YoY Change
Consolidated Revenue from Operations: Rs. 20,290 Crores Rs. 17,618 Crores +15%
EBITDA: Rs. 2,815 Crores Rs. 2,502 Crores +12%
EBITDA Margin: 13.90% 14.20% -30 bps
Profit Before Exceptional Items and Tax: Rs. 2,193 Crores Rs. 1,782 Crores +23%
Group Net Profit: Rs. 1,547 Crores Rs. 1,287 Crores +20%
Earnings Per Share (Basic): Rs. 15.59 Rs. 13.60 +19%
Net Cash Position: Rs. 2,978 Crores — —
Standalone Revenue from Operations: Rs. 14,700 Crores Rs. 12,801.85 Crores +15%
Standalone Profit After Tax: Rs. 1,635 Crores Rs. 1,254.75 Crores +30%

India Branded Business reported revenue growth of 14%, while growth businesses grew 24%, contributing 31% to India Branded Business revenue. International Business revenue grew 16% (9% in constant currency), and Non-Branded Business delivered strong growth of 25% (23% in constant currency). New-age channels contributed 41% of India business revenue, with E-commerce including Quick Commerce growing 62%.

E-Voting and Shareholder Participation

The remote e-voting period commences on Saturday, June 6, 2026, from 9:00 a.m. (IST) and ends on Tuesday, June 9, 2026, at 5:00 p.m. (IST). The e-voting event number (EVEN) is 139309, hosted on the NSDL platform. Members holding shares as on the cut-off date of Wednesday, June 3, 2026, are eligible to vote. The Board has appointed Dr. Asim Kumar Chattopadhyay (FCS 2303, CP 880) as Scrutinizer. Members wishing to register as speaker shareholders may send their request to AGM2026@tataconsumer.com from June 3, 2026 (9:00 a.m. IST) to June 5, 2026 (5:00 p.m. IST). Shareholders who have not registered their email addresses may do so with the Company's Registrar & Transfer Agent, MUFG Intime India Private Limited, or their respective Depository Participant, on or before Friday, June 5, 2026. Members seeking a physical copy of the Integrated Annual Report for FY 2025-26 may write to AGM2026@tataconsumer.com , mentioning their Folio No./DP ID and Client ID.

With EBITDA margins contracting 30 bps despite 15% revenue growth, what strategic initiatives is Tata Consumer Products likely to pursue to restore margin expansion in FY 2026-27?

Given that e-commerce including quick commerce grew 62% and new-age channels now contribute 41% of India business revenue, how might this shift in distribution strategy impact Tata Consumer's traditional retail partnerships and overall profitability going forward?

With a net cash position of Rs. 2,978 Crores and strong standalone profit growth of 30%, what potential acquisitions or capacity expansion plans could Tata Consumer Products pursue to sustain its growth trajectory beyond the Rs. 20,000 Crore revenue milestone?

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Tata Consumer Q4 FY26: MD Assures Double-Digit Revenue Growth; Revenue ₹5433 Cr

6 min read     Updated on 12 May 2026, 10:36 AM
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Tata Consumer Products' MD reaffirmed double-digit revenue growth ahead, with Q4 FY26 consolidated revenue at ₹5433.62 crores and EBITDA margin expanding to 14.57%. Management guided 50–75 bps EBITDA margin expansion for FY27, while CLSA (Outperform, ₹1337) and Goldman Sachs (Buy, ₹1450) maintained bullish ratings citing 16% India volume growth and strong operational performance.

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Tata Consumer Products Limited has released its audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2026. The results were published in compliance with Regulation 33 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and were signed off by Managing Director and CEO Sunil D'Souza on May 08, 2026. Following the results, the MD reaffirmed double-digit revenue growth ahead for the company, while management shared its comprehensive FY27 outlook on a concall. Leading global brokerages CLSA and Goldman Sachs also reaffirmed their bullish stance on the stock, citing strong operational performance and healthy volume growth.

Management Guidance (FY27 Concall)

Management provided a comprehensive set of forward-looking operational targets during the post-results concall. The MD assured double-digit revenue growth ahead, with the company expecting full-year EBITDA margin expansion of 50 to 75 basis points for FY27, acknowledging quarterly seasonality, with EBITDA expected to grow ahead of topline.

Key guidance parameters shared by management are summarised below:

Parameter: Guidance
FY27 EBITDA Margin Expansion: 50–75 bps
Topline Growth Target: Double-digit
EBITDA Growth vs Topline: EBITDA to grow ahead of topline
Tea Prices Outlook: Largely benign for the year ahead
US Coffee Margins: Expected to improve as current inventory cycles through
A&P-to-Sales Ratio (Normalised): 7.5%–8.5%
NourishCo & Growth Businesses Growth: ~30% in the near term
Sampann Margins Target: Heading towards mid-teens

Analyst Views

CLSA has maintained an Outperform rating on Tata Consumer Products with a target price of ₹1337, driven by strong Q4 sales and EBITDA growth that beat estimates. The brokerage highlighted healthy 16% India volume growth, strong traction in Salt and Sampann brands, and rapid 62%+ FY26 growth in quick commerce and ecommerce channels as key growth drivers. Goldman Sachs has maintained a Buy rating with a target price of ₹1450, citing a strong Q4 FY26 beat driven by robust revenue growth and margin expansion. The brokerage noted industry-leading India volume growth of 16%, fast-growing segments contributing over 30% of revenues, and management maintaining FY27 EBITDA margin expansion guidance of 50–75 bps.

Brokerage: Rating Target Price
CLSA: Outperform ₹1337
Goldman Sachs: Buy ₹1450

Consolidated Financial Performance

On a consolidated basis, the company reported total income from operations of ₹5433.62 crores for the quarter ended March 31, 2026, compared to ₹5112.00 crores in the preceding quarter ended December 31, 2025, and ₹4608.22 crores in the quarter ended March 31, 2025. For the full financial year ended March 31, 2026, consolidated total income from operations stood at ₹20280.43 crores, against ₹17618.30 crores in the year ended March 31, 2025. EBITDA for Q4 FY26 came in at 7.92b rupees versus 6.21b rupees in Q4 FY25, with the EBITDA margin expanding to 14.57% from 13.47% in the year-ago period, reflecting improved operational efficiency.

The following table summarises key consolidated financial metrics:

Metric: Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25
Total Income from Operations (₹ Cr): 5433.62 5112.00 4608.22 20280.43 17618.30
EBITDA (b Rupees): 7.92 — 6.21 — —
EBITDA Margin (%): 14.57 — 13.47 — —
Net Profit (before tax & exceptional items) (₹ Cr): 641.37 562.77 484.38 2192.84 1781.66
Net Profit before tax (after exceptional items) (₹ Cr): 644.17 539.91 529.70 2172.78 1778.55
Net Profit after tax (after exceptional items) (₹ Cr): 424.02 384.52 348.72 1546.80 1287.10
Total Comprehensive Income (₹ Cr): 731.18 465.22 513.04 2387.55 1594.30
Basic EPS (₹): 4.24 3.88 3.49 15.58 13.06
Diluted EPS (₹): 4.24 3.88 3.49 15.58 13.06

Balance Sheet and Leverage Metrics

The consolidated net worth of the company as of March 31, 2026, stood at ₹23188.86 crores, compared to ₹22140.67 crores as of December 31, 2025, and ₹21390.30 crores as of March 31, 2025. Outstanding debt as of March 31, 2026, was ₹2819.51 crores, against ₹2504.37 crores at the end of Q3 FY26 and ₹2392.68 crores as of March 31, 2025. The debt equity ratio remained at 0.12 as of March 31, 2026, compared to 0.11 in the preceding quarter and in the year-ago period.

Key balance sheet and coverage metrics are presented below:

Metric: Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25
Equity Share Capital (₹ Cr): 88.96 98.95 98.95 98.96 98.95
Securities Premium Account (₹ Cr): 9986.29 9985.00 9981.10 9986.29 9981.10
Reserves excl. Revaluation Reserves (₹ Cr): — — — 21688.57 19902.13
Net Worth (₹ Cr): 23188.86 22140.67 21390.30 23188.86 21390.30
Outstanding Debt (₹ Cr): 2819.51 2504.37 2392.68 2819.51 2392.68
Debt Equity Ratio: 0.12 0.11 0.11 0.12 0.11
Debt Service Coverage Ratio: 14.71 7.90 10.10 10.19 5.79
Interest Service Coverage Ratio: 30.88 18.30 15.48 21.54 8.71

Standalone Financial Performance

On a standalone basis, total income from operations for the quarter ended March 31, 2026, was ₹3591.78 crores, compared to ₹3884.02 crores in Q3 FY26 and ₹3354.18 crores in Q4 FY25. For the full year ended March 31, 2026, standalone total income from operations was ₹14700.05 crores, against ₹12801.85 crores in FY25. Standalone profit before tax for Q4 FY26 stood at ₹421.11 crores versus ₹435.20 crores in Q3 FY26 and ₹356.79 crores in Q4 FY25, while profit after tax for the quarter came in at ₹315.16 crores compared to ₹320.84 crores in Q3 FY26 and ₹278.90 crores in Q4 FY25.

Metric: Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25
Total Income from Operations (₹ Cr): 3591.78 3884.02 3354.18 14700.05 12801.85
Profit before tax (₹ Cr): 421.11 435.20 356.79 2046.59 1503.24
Profit after tax (₹ Cr): 315.16 320.84 278.90 1635.15 1254.75

Regulatory Disclosures

The results represent an extract of the detailed format of quarterly financial results filed with the stock exchanges under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the quarterly financial results is available on the websites of BSE Limited, the National Stock Exchange of India Limited, and the company's own website at www.tataconsumer.com . As noted in the filing, figures for the quarters ended March 31, 2026, and March 31, 2025, are balancing figures between audited figures for the respective full financial years and year-to-date reviewed figures up to the third quarter of the relevant financial year.

How might Tata Consumer Products' aggressive quick commerce and e-commerce expansion strategy impact its traditional distribution channel margins and retailer relationships in FY27?

Given the expected improvement in US coffee margins as current inventory cycles through, what competitive risks could Tata Consumer face from established players like Starbucks and Nestlé in the premium coffee segment?

With NourishCo and growth businesses targeting ~30% near-term growth, which specific product categories or geographies are most likely to drive this expansion, and how sustainable is this trajectory beyond FY27?

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