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Motilal Oswal Report
Tata Consumer Products Ltd.'s Q2 FY21 results were robust, mainly led by improvement in standalone and overseas tea performance.
Standalone Ebitda grew 25% YoY due to operating leverage and cost savings initiatives.
Overseas tea reported 81% Ebitda growth due to low commodity cost and operating leverage.
Overall performance of the company was partly impacted by higher tea prices, which led to consolidated gross margin contraction of 270 basis points.
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