Sharekhan has given Buy recommendation for Tata Consumer Products with a target price of Rs. 740 in its research report issued on Feb 25, 2021

Sharekhan’s research report on Tata Consumer Products

Inclusion in the Nifty50 and strong earning visibility make it at preferred pick in the consumer goods space. Market share gains in branded tea and staples space, scale-up of new ventures and foray into new categories through new launches remain near-term growth catalysts. Synergistic benefits from integration of Tata Chemicals’ consumer business will sustain OPM at 14.5-15% in FY2022/23. Sustained correction in the tea prices (corrected by ~40% from its peak) might further provide upside to our earnings estimates. We revenues and PAT to grow at CAGR of 13% and 23% over FY2020-23.


We maintain a Buy on Tata Consumer Products (TCPL) with a revised PT of Rs. 740.