Tata Consumer Products Limited (TCPL) has announced multiple senior management changes and reported strong quarterly results for the period ended September 30.

Management Changes

• P. B. Balaji has resigned as Non-Executive Non-Independent Director, effective November 3, citing additional time commitments.
• Puneet Das, President Packaged Beverages-India South Asia, has resigned to pursue new opportunities.
• Sharat Verma has been appointed as the new President Packaged Beverages-India South Asia, effective December 1.
• Prashant Parameswaran, President Soulfull Business, has resigned for personal reasons, effective December 15.

Q2 Financial Highlights

• Consolidated revenue grew 18% to Rs 4,966.00 crores
• Group Net Profit increased 11% to Rs 407.00 crores
• India core business recorded double-digit growth in both tea and salt segments for the second consecutive quarter
• Growth businesses expanded by 27%

Business Developments

• Launched 25 new products during the quarter
• Tata Starbucks added 7 new stores

TCPL continues to strengthen its position in the consumer goods sector, with a significant presence in India reaching over 275 million households and operations in international markets. The company's portfolio includes tea, coffee, water, salt, pulses, spices, and ready-to-eat offerings.

The company has informed the relevant stock exchanges about the changes in board composition, in compliance with regulatory requirements.

Tata Consumer Products Limited (TCPL) has delivered a robust performance in the second quarter, with significant growth across its business segments. The company's consolidated revenue from operations grew by 18% year-on-year to ₹4,966 crores, driven by strong performances in both its branded and non-branded businesses.

Key Highlights

• Consolidated revenue grew 18% (16% in constant currency terms) to ₹4,966 crores
• India business grew 18%, with the core business recording double-digit growth in both tea and salt
• International business delivered 9% constant currency growth
• Non-branded business grew 26% in constant currency terms
• Consolidated EBITDA stood at ₹675 crores, up 7% YoY
• Group Net Profit increased by 11% to ₹407 crores

Segment Performance

India Business

The India packaged beverages business revenue grew by 12%, with coffee continuing its strong trajectory, recording a 56% growth for the quarter. The Ready-to-Drink (RTD) business delivered a 25% revenue growth despite unseasonal rains and heightened competitive intensity.

The India Foods business revenue increased by 19%. Value-added salt portfolio performed well, growing 23% during the quarter. Tata Sampann portfolio continued its momentum, growing by 40% for the quarter.

International Business

The International business revenue grew by 9% in constant currency terms, primarily driven by strong coffee performance in the USA. Eight O'Clock coffee continued to gain market share within bags and K-Cups for the fourth consecutive quarter.

Non-Branded Business

The Non-Branded business, which includes plantation and extraction business for tea, coffee, and other produce, saw a significant growth of 26% in constant currency terms.

Innovation and Expansion

TCPL maintained a strong pace of innovation with 25 new product launches during the quarter across categories. Some notable launches include:

• Tata Tea Agni's category-first Energy tea with added caffeine in select markets
• Tata Sampann's gravy masala mixes and a range of unpolished millets
• Capital Foods' new products like Chings Chilli Oil, Korean Ramen, and Korean Kimchi noodles

Tata Starbucks

Tata Starbucks added 7 net new stores during the quarter, bringing the total number of stores to 492 across 80 cities. The joint venture also extended coffee experiential store formats in Mumbai, Hyderabad, and Chennai.

Management Commentary

Sunil D'Souza, Managing Director & CEO of Tata Consumer Products, commented on the results: "We delivered a strong topline growth of 18% in Q2, with steady net profit growth. This was the 2nd consecutive quarter of double-digit growth in the India core business across both tea and salt. Tata Sampann continued its growth momentum and launched several new products during the quarter. The RTD business recorded robust growth despite unfavourable weather conditions."

He further added, "We remain focused on building for the future with growth, innovation and consumer trust at the heart of everything we do."

Outlook

With its strong performance across segments and continued focus on innovation and expansion, Tata Consumer Products appears well-positioned for sustained growth. The company's ability to deliver robust results despite challenges such as unseasonal rains and heightened competition demonstrates its resilience and strong market position in the consumer products sector.