Tata Consumer Q2 Review: Yes Securities Maintains 'Buy', Hikes Target Price Post Robust Numbers— Check Details

Tata Consumer Products' consolidated revenue was up 18% YoY to Rs 49.7 billion (vs estimate Rs 47.7 billion). Consolidated Ebitda was up 7.3% YoY to Rs 6.7 billion (Rs 6.3 billion). Group net profit up 11% YoY to Rs 4 billion..NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.Tata Consumer Products Ltd. Q2 FY26 operating topline was strong and slightly ahead of our expectations on both topline and margins. Core India saw second consecutive quarter of double-digit growth with ‘Growth’ businesses rebounding after a quarter of miss even while Capital Foods, Organic India, and Tata Soulfull were impacted by the GST 2.0 transition for few days. ‘Growth’ businesses rebounds: After miss in Q1 FY26, combined ‘Growth’ businesses (32% of India business in Q2 FY26) grew by 27% YoY. Management believes new businesses’ growth to continue at >30% levels for some time. Margins to improve QoQ: Important to note, coffee prices are on a downward trajectory in the short term and tea prices remains favorable. As expected, Q2 FY26 onwards the company is seeing Ebitda margins profile improving and by Q3 it would reach to 15-16% margins largely led by improvement in tea margins. Brief Valuation and View: Price hikes already taken in tea portfolio and expectation of softer tea input cost will continue to aid margin recovery in FY26. Even in a difficult environment, Tata Consumer Products executed on its strategic priorities (strengthening GT, driving new channels, innovations, etc.). With visibility of better margins in rest of FY26, we maintain our positive view of the stock. We thus maintain our Buy rating with a revised target price of Rs 1,420 (Rs 1,260 earlier)..Click on the attachment to read the full report:.Gland Pharma Q2 Review — Motilal Oswal Hikes Target Price Post Inline Revenue; Maintains 'Buy'.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Tata Consumer Q2 Review: Yes Securities Maintains 'Buy', Hikes Target Price Post Robust Numbers— Check Details

With visibility of better margins in rest of FY26, Yes Securities maintains positive view on the stock.

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