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 reported a robust performance for the second quarter, with significant growth in both revenue and profit. The company's strategic focus on its branded business and operational efficiency has contributed to this strong showing.

Revenue Growth

TCPL's consolidated revenue from operations for Q2 stood at ₹3,595.00 crores, marking an impressive 18% increase compared to the same quarter of the previous year. This growth was driven by strong performances across various business segments.

Profit Performance

The company's standalone net profit grew 28% year-on-year to ₹285.00 crore for the quarter ending September 30.

Segment-wise Performance

• International Business: Revenue grew 9% in constant currency terms
• Starbucks Joint Venture: Achieved 8% revenue growth with 492 stores across 80 cities

GST Transition Impact

Tata Consumer Products managing director Sunil D'Souza reported that three brands - Capital Foods, Organic India, and Tata Soulfull - experienced sales impact during the GST rate cut transition phase, with business disruption exceeding expectations. The company had been achieving decent double-digit growth before the GST transition.

• New GST rates were implemented from September 22 following the August 15 announcement
• Capital Foods sales were particularly affected in modern trade during September
• The ready-to-drink business remained unimpacted due to its impulse consumption nature

Brand Performance

Management Commentary

Sunil D'Souza, Managing Director and CEO of Tata Consumer Products, commented on the GST transition impact and overall performance. The company remains focused on navigating the challenges posed by the GST rate changes while maintaining growth momentum across its diverse portfolio.

Outlook

While TCPL has shown strong growth, the company is addressing the short-term impacts of the GST transition on specific brands. The management continues to focus on innovation, brand building, and operational efficiency to maintain growth momentum and improve profitability across all segments.

Investors and analysts will be closely watching TCPL's performance in the coming quarters, particularly its ability to manage the GST transition effects and maintain growth in various business segments. The company's diverse portfolio and strong market position in both domestic and international markets position it well for continued growth, despite temporary challenges in certain brand segments.