BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Tata Consumer Products Ltd.'s Q2 FY24 was largely in-line with our expectations. We note the positives-
post completing split-routes for salesmen in one million plus cities, it is focussing on ‘rurban' strategy. It has inducted 1,000 distributors in 50,000 plus population towns,
Starbucks has added 22 outlets and now focuses on highway stores. In-spite of rapid increase in outlets post Covid, Starbucks has remained Ebit positive (ahead of expectations) and
Growth businesses (18% of India branded sales) reported strong 39% YoY growth rate.
We highlight one concern (likely to be transitory) as it has lost market shares in India Tea and India Salt for second successive quarter.
We reckon Tata Consumer will likely attempt to implement the biggest M&A strategy in our consumer staples coverage. 'Buy'.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.