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Below the Views on Tata Consumer Products Ltd. Q4 FY24 results by Parth Shah, Research Analyst, StoxBox

Tata Consumer Products Ltd. Q4FY24 Result First Cut - Revenue and PAT misses market estimates

• Revenue stood at Rs. 3,927 crores in Q4FY24 (up 3.2% QoQ / up 8.5% YoY) owing to strong performance of its India business. However, revenues were marginally lower than market expectations of Rs. 3,962 crores.
• In the company's branded business segment, India's business revenue rose to Rs. 2,480 crores in Q4FY24 (up 10.0% YoY), led by India Beverages business growing 3% YoY. India Foods business continued its strong trajectory, with revenue up 20% YoY including Capital Foods.
• The company's international business revenue stood at Rs. 1,052 crores in Q4FY24 (up 7.0% YoY).
• Non-branded business revenue stood at Rs. 402 crores in Q4FY24 (up 4.2% YoY).
• The company's EBITDA rose 10.0% QoQ / up 23.0% YoY to Rs. 630 crores in Q4FY24, surpassing street estimates of Rs. 594 crores. EBITDA margin rose to 16.0% (up 99 bps QoQ / up 189 bps YoY), led by improved profitability across businesses.
• Profit after Tax stood at Rs. 212 crores (down 29.6% QoQ / down 26.7% YoY) in Q4FY24, lower than market estimates of Rs. 303 crores, while PAT margin came in at 5.4% (down 252 bps QoQ / down 260 bps YoY).
• The Board has recommended a final dividend of Rs. 7.75 per equity share.

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