Sustained high tea prices
Tea input costs remain elevated with only 40% passed through; if prices don't ease or further hikes aren't taken, margins could remain under pressure for two more quarters.
TATACONSUM / Q3-FY25 / 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
high
Coffee price volatility impacting non-branded demand
Coffee prices at 50-year highs; management is cautious on inventory and notes potential demand destruction if prices persist.
Competitive intensity in RTD business
Analyst raised concern about new entrants and pricing aggression; management acknowledged matching deeper retail margins, impacting revenue growth.
Urban slowdown impact on premium portfolio
Analyst questioned volume growth in Salt and Sampann given urban slowdown; management noted urban growth is low single digits excluding modern trade and e-commerce.