Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 12 Oct
Source: Bse
TATA CONSUMER PRODUCTS LIMITED (TATACONSUM)
Large CapFMCG stocks · Large cap · NSE
Tata Consumer Products is an integrated F&B company, part of the Tata Group, aiming for a larger share of the FMCG market. It is India's largest salt brand, 2nd largest tea brand, and #1 natural mineral water brand. Globally, it is the #2 branded tea player and 4th largest R&G coffee brand in the USA.
₹970.65
+4.15 · +0.43%
Market cap ₹96,882 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result24 Jul, 09:27 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · FMCG P/E 37.8 (n=42)
Technical timing lens
Trend score and candlestick chart
27BearishSMA20 -4.8% / mo · MACD + · near 52W low · sector -5.7pp vs Nifty 500 (3M)
Stock trend: 37
Sector RS: 14
Sector 3M: -11.3% vs Nifty 500 -5.6%
FMCG FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TATACONSUMD candles · FIT view-16.4%Latest close ₹970.65 on 2026-10-21
Bar
+0.8%
RSI
45
MACD hist
4.15
52W pos
8%
2026-10-21O ₹963.10H ₹972.80L ₹960.90C ₹970.65Vol 7.3L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TATACONSUMNifty FMCGNifty 500
- TATACONSUM
- -10.2%
- Nifty 500
- -6.5%
- Nifty FMCG
- -10.7%
- Vs Nifty 500
- -3.8 pp
Chart stats
21 Oct 2026- From 52W high
- -24.3%
- 52W range position
- 8%
- ATR (14)
- 1.9%
- Volume vs 20D
- 0.56x
- Avg traded value
- ₹128 Cr
- 20D price channel
- ₹945 - ₹1,011.2
₹1,282.7
₹945 - ₹1,282.7
₹18.7
Latest completed session
20-session average
21.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED31
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good70
Revenue +11.9% · PAT +28.6% YoY
Technical
Bearish27
Price trend and sector-relative-strength timing.
Valuation
Legacy model-30.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence79
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 70/100Rev +12% YoY · PAT +29% YoY · margin expansion · operating leverage
Filed 24 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹5,349 Cr | +11.9% | -1.6% |
| EBITDA | ₹724 Cr | +19.3% | -8.6% |
| Operating margin | 14.0% | +100 bps | -100 bps |
| PAT | ₹427 Cr | +28.6% | +0.7% |
| PAT margin | 8.0% | +103 bps | +18 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 58.70
- P/B
- 4.45
- EV/EBITDA
- 28.07
- Market Cap
- 96882.00Cr
Profitability
- ROE
- 7.35%
- ROCE
- 9.24%
- ROA
- 4.79%
- Dividend Y
- 1.02%
Growth (CAGR)
- Revenue 5Y
- 12.00%
- EPS 5Y
- 12.00%
- Revenue 3Y
- 14.00%
- EPS 3Y
- 13.00%
Balance Sheet
- Debt/Equity
- 0.13
- Interest Coverage
- 20.49×
- Altman Z
- 6.66
- Book Value
- 220.00
Cash Flow
- FCF Yield
- 0.53%
- FCF Positive Y
- 10/5
- OCF
- 2422.00 Cr
- EPS TTM
- 16.53
Shareholding
- Promoter Hold
- 33.83%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 10%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 5,349-1.6% vs prev
Net Profit
₹ CrLatest: 427+0.7% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 45. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~5.0% over last month) — short-term momentum negative.
- RSI(14) at 45 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
33
RS percentile
Stage 4 Downtrend
1M return
-3.0%
3M return
-10.2%
6M return
-18.0%
1Y return
-17.5%
RS 1D
+4
RS 20D
+7
Sector rank
#13
Industry rank
#18
Stage evidence
- Price is 10.5% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.7%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 89.99+1.36%
RS vs Nifty 50090
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation1/30
Growth11/25
Quality0/20
Balance Sheet9/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
31
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
31/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 9/15 to the score.
- Growth contributes 11/25 to the score.
Main drags
- Fair-value margin of safety is negative at -30.5%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 1/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
58.7
PB
4.5
EV/EBITDA
28.1
ROE
7.3%
ROCE
9.2%
FCF Yield
0.5%
Debt/Equity
0.1
MoS
-30.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
31
Previous: 32 (-1)
Legacy U-Score band
OVERVALUED
Previous: WATCHLIST
Margin of safety
-30.5%
Previous: -29.9%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
32
32
32
32
32
32
32
32
32
32
32
32
Factor attribution
Balance sheet
9-1
was 10
Modelled fair value
Graham Number
₹286.05
-239.3% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹743.85
-30.5% MoS
PEG
4.73
Comparable companies
Peers
Business-comparable peers in FMCG — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BRITANNIA
Large
Britannia Industries Limited
FMCG
match 136
48
45.4
53.5%
-209%
FAIR VALUE
VBL
Large
Varun Beverages Limited
FMCG
match 134
49
42.9
16.2%
+7%
FAIR VALUE
BIKAJI
Large
Bikaji Foods International Limited
FMCG
match 130
47
45.5
17.5%
-1%
FAIR VALUE
MARICO
Mid
Marico Limited
FMCG
match 128
50
53.6
42.8%
-122%
FAIR VALUE
HONASA
Large
Honasa Consumer Limited
FMCG
match 127
43
59.0
15.7%
-28%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-12T00:54:35.072Z
Management commentary snapshot
Consolidated revenue grew 18% in Q4FY26 and 15% in FY26, driven by strong India business volume growth. Q4 EBITDA expanded 100bps to 14.6%, up 27% YoY, though FY26 EBITDA margin saw a slight contraction.
The company delivered robust top-line growth, particularly in India and its 'Growth' businesses, with strong Q4 EBITDA expansion. While India Tea revenue declined due to price pass-through, Salt and Sampann showed strong momentum. International and Non-branded segments had mixed profitability, with geopolitical issues impacting exports. Overall strategic priorities are progressing well.
Current business mix
Branded Business Revenue by Geography (Q4FY26)
Latest issuer-disclosed distribution across 2 reported categories.
India Business75.0%
International Business25.0%
Growth engines
'Growth' Businesses
'Growth' businesses crossed ₹4,000 crore revenue in FY26, growing 24% in FY26 and 33% in Q4FY26.
Tata Sampann
Tata Sampann recorded strong momentum, growing 69% in Q4FY26 and 46% in FY26, with broad-based contribution.
India Salt Business
Salt delivered 14% revenue growth in FY26 to cross ₹4,000 crore, supported by double-digit volume growth.
US Coffee Business
The US business delivered 24% YoY growth in Q4FY26, driven by pricing actions, and 23% for the full year.
Capacity and execution
Tata Starbucks Store Expansion
Tata Starbucks expanded its network with 23 net new store openings during FY26, reaching 502 total stores across 80 cities.
Tailwinds
Moderating Tea Prices
Tea prices in North India moderated in Q4FY26, witnessing a seasonal correction post earlier peaks.
Softening Robusta Coffee Prices
Robusta prices softened sequentially in Q4FY26, with average prices at an 8-quarter low.
Headwinds
Geopolitical Disruptions
Capital Foods had a softer Q4FY26 due to export disruption from geopolitical developments, causing combined exports to decline 9%.
International Business Gross Margin Pressure
International EBITDA declined 6% (CC) YoY in Q4FY26, with margin 220 bps lower, driven by gross margin pressure.
Non-Branded Business Margin Contraction
Non-branded EBITDA declined 29% (CC) in Q4FY26, with margin contracting 1,280 bps due to reversal of prior-year fair value benefits.
Risk radar
Commodity Price Fluctuations
The company's forward-looking statements acknowledge risks from commodity price fluctuations, which can impact input costs and pricing environment.
Competitive Intensity
The disclaimer highlights competitive intensity as a factor that may affect actual results.
Geopolitical Instability
Geopolitical disruptions impacted Capital Foods' exports in Q4FY26, demonstrating vulnerability to global events.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The investor presentation primarily reports Q4FY26 results against Q4FY25 and full-year FY26 results against FY25. For a consumer business, year-on-year comparison is crucial to account for seasonality and provide a consistent view of performance trends.
Sector KPIs management disclosed
Consolidated Revenue Growth
Consolidated revenue grew 18% in Q4FY26 and 15% in FY26.
India Business Underlying Volume Growth (UVG)
India business delivered 16% underlying volume growth in Q4FY26 and 13% in FY26.
Consolidated EBITDA Growth & Margin
Consolidated EBITDA grew 27% in Q4FY26, with margin expanding 100 bps to 14.6%. FY26 EBITDA grew 12% with margin at 13.9% (-30bps YoY).
India Tea Volume & Revenue Growth
India Tea volumes grew 4% in Q4FY26, but revenue marginally declined as lower input costs were passed on to consumers. FY26 revenue grew 6%.
Management forward view
Strengthen Core & Accelerate Growth Businesses
Management aims to drive more focus on 'Growth' businesses in Tea and Salt dominant markets through a new GTM model.
Drive Execution Excellence Everyday
The company is embracing Channels of the Future, with Modern Trade, E-commerce, Q-commerce, and Emerging Channels showing strong growth.
Drive Digital & Innovation
Management emphasizes innovation-led growth, with innovation revenue scaling 7x since FY21 and 80 new products launched in FY26.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| India Business Underlying Volume Growth (UVG) | 16% in Q4FY26, 13% in FY26 | Sustained double-digit UVG in India, indicating continued market penetration and demand. |
| 'Growth' Businesses Revenue Growth | 33% in Q4FY26, 24% in FY26 | Continued high growth rates in these segments to drive overall portfolio premiumization and diversification. |
| Innovation-to-Sales Ratio | 4.5% in FY26 | Maintenance or improvement of this ratio, reflecting effective new product development and market acceptance. |
| India Tea Market Share (Value) | -50 bps (MAT Mar'26 vs Mar'25) | Stabilization or recovery of market share, especially after price pass-throughs, to ensure core business strength. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
79Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 88th percentile of the scored universe and 70th percentile within FMCG. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
191 docs text-extracted · 55 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
88th percentile
overall median 67 · FMCG: 70th pctile, median 79 · Large: 74th pctile, median 73
Evidence depth
Financial-only
191 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.5%.
- ▸10 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸ROE is low at 7.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching TATA CONSUMER PRODUCTS LIMITED
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Oct
Source: Bse
Credit ratingSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 1 Oct - CARE Ratings reaffirmed A1+ rating for Tata Consumer’s ₹1,500 crore short-term instruments on September 30, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 10 Sep
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 6 Aug - Tata Consumer Products will join ICICI Securities CIO Round Table on August 7, 2026 in Mumbai.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 26 Aug - Tata Consumer to attend investor forums in Hong Kong on September 21-22, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 30 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 2 Jul
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.