 "Sunil D'Souza, MD and CEO of Tata Consumer Products")
Sunil D’Souza, MD and CEO of Tata Consumer Products
Its revenue was up 16.3 per cent to Rs 4,352.1 crore during the quarter, driven by additional revenue from two acquisitions (Organic India and Capital Foods) and 10 per cent organic growth.
In its India business, the beverages segment’s revenue grew 6 per cent (1 per cent organic growth), impacted by an intense summer. The coffee business continued its strong trajectory with a revenue growth of 28 per cent for the quarter.
Nourishco (Ready-to-Drink business) recorded revenue growth of 7 per cent during the quarter. Its growth was muted due to a high base and the intense summer impacting out-of-home consumption.
The India foods business revenue grew over 30 per cent (14 per cent organic growth), continuing its double-digit growth trajectory, the company said in its results release.
The salt business revenue grew by 9 per cent on the back of strong volume growth.
The Tata Sampann portfolio continued its strong momentum and grew 37 per cent for the quarter. The growth businesses, including Capital Foods and Organic India, now account for 29 per cent of Tata Consumer’s India business.
In its international business, revenue grew 10 per cent excluding the Capital Foods and Organic India acquisitions (8 per cent constant currency), and the business’s profitability improved significantly, led by structural interventions and pricing actions.
“In India, we continue to strengthen our sales and distribution infrastructure and have implemented split routes as announced earlier, which is expected to add about 35 per cent additional feet on the street. Channels of the future (modern trade and e-commerce) continue to be strong contributors to our growth algorithm,” Sunil D’Souza, managing director and CEO at Tata Consumer Products, said in the results release.
He added, “In addition, we are piloting our go-to-market strategy in the pharma channel (for our health and wellness portfolio) and in the food service channel. We have completed the end-to-end integration of our recent acquisition, Capital Foods, and are on track to complete the integration of Organic India. Identified synergy benefits have started accruing in both businesses. Going forward, we will continue to execute against our strategic priorities and deliver consistent and profitable growth.”
First Published: Jul 30 2024 | 6:21 PM IST
