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ICICI Securities Report
Brokerage firm Deven Choksey Research has retained its 'Buy' rating on Tata Consumer Products Ltd. with a target price of Rs 1,301, implying an upside potential of around 18% from the current market price of Rs 1,101.
The brokerage believes the company is undergoing a structural transformation from a legacy tea and salt player into a diversified, high-growth FMCG platform.
According to the brokerage, Tata Consumer's growth businesses now contribute 36% of India revenues, compared with just 8% in FY21, and are growing at a robust pace of 30-50%. This shift toward higher-margin food and beverage categories is expected to drive both revenue growth and profitability over the coming years.
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