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Nirmal Bang Report
With the task of bringing the fast moving consumer goods DNA under one company of Tata Group, i.e., Tata Consumer Products Ltd. done, the company has now started to take steps for its India business to become a long-term FMCG player - like overhauling the distribution network, widening distribution and strengthening its digital capabilities.
These steps, along with focus on market share movement to branded consumption and continuous innovations across categories bring visibility for long runway of growth for the India business.
On the international front, while the revenue growth is low, Tata Consumer has simplified the business over the last few years.
Going forward, we expect consolidated revenue to grow at a compound annual growth rate of 10.7% over FY21- 24E, led by ~15% growth in India business.
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