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Yes Securities Report
The key positives for Tata Consumer Products Ltd.'s quarter were a decent volume growth momentum in tea despite a high base, strong share gains in salt and solid growth in Tata Sampann, EOC and out-of-home businesses like Nourishco and Starbucks in addition to strong margins in India beverages business led by tea deflation and EOC led by price hikes.
The key negatives were muted margin performance in foods given a combination of investments in acquired businesses like Soulfull and Tata Q and delayed price hikes in salt in addition soft revenue and margin performance of international tea business.
With tea prices now stable, Tata Consumer's margins have recovered strongly and volume growth is sustaining in high single-digits.
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