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ICICI Direct Report
Tata Consumer Products Ltd.'s Q1 revenue witnessed growth of 10.9% to Rs 3008.5 crore on the back of 28% growth in India beverage business led by 25% price hike and 3% volume growth.
Tata Consumer Products took aggressive price hikes in the last one year due to elevated tea procurement prices.
It has gained 175 basis points market share in India tea segment. U.S. coffee and international tea business dragged growth with 15% and 10% sales decline on a high base.
The international business witnessed pantry loading in base quarter due restricted out of home activity.
India food business saw 20% growth led by 17% volumes growth largely aided by strong growth in salt.
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