US coffee softness and promotional intensity
US coffee revenue declined due to falling coffee prices and increased promotional activity; corrective actions taken late in Q2 may take time to reflect.
TATACONSUM / Q2-FY24 / risks
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TATA CONSUMER PRODUCTS · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Rural demand stress and erratic monsoons
Management noted rural stress from inflation and erratic monsoons, impacting volume growth in certain categories.
Tea market share loss on MAT basis
Tea market share declined 95 bps on a MAT basis, though management highlighted stability on a quarter-on-quarter basis.
NourishCo growth deceleration due to weather
NourishCo growth slowed to 25% in Q2 from 60% in Q1, attributed to unseasonal rains; analyst questioned sustainability of the aspirational target.