Buy Tata Consumer Products; target of Rs 960: Sharekhan

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Sharekhan's research report on Tata Consumer Products

TCPL achieved significant success in its transformation journey by expanding its distribution reach, recording market share gains in core categories, accelerating growth in key businesses, continued innovation momentum, and expanding in new categories. Operating performance was stable in FY2022 with revenue growing by 7% and operating profit growing by 11% (with 53 bps expansion in OPM); FCF to EBITDA improved to 100% with strong cash kitty of Rs. 2,600 crore on books; Working capital days improved to 26 days from 36 days earlier. Going ahead, TCPL is focusing on enhancing shareholders’ value by simplifying the structure and unlocking significant financial value while generating consistent earnings growth and focusing on its six-pillar growth strategy.

Outlook

With lesser input cost headwinds, strong medium growth prospects, and focus on enhancing shareholders’ value, TCPL remains one of our top picks in the FMCG space. We maintain Buy with an unchanged PT of Rs. 960.

More Info

At 16:01 hrs TATA Consumer Products was quoting at Rs 723.60, down Rs 13.85, or 1.88 percent.

It has touched an intraday high of Rs 755.30 and an intraday low of Rs 719.80.

It was trading with volumes of 30,938 shares, compared to its thirty day average of 85,846 shares, a decrease of -63.96 percent.

In the previous trading session, the share closed up 0.27 percent or Rs 1.95 at Rs 737.45.

The share touched its 52-week high Rs 889.00 and 52-week low Rs 650.75 on 07 September, 2021 and 07 March, 2022, respectively.

Currently, it is trading 18.61 percent below its 52-week high and 11.19 percent above its 52-week low.

Market capitalisation stands at Rs 66,683.48 crore.

For all recommendations report, click here

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