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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹4,608 Cr
verified against source
Revenue YoY
17%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Tata Consumer Products reported a strong Q4 FY25 with consolidated revenue of INR 4,608 crore, up 17% YoY (12% organic). India branded business UVG grew 6%, with tea volumes up 2% and salt volumes up 5%. EBITDA margin contracted 250 bps to 13.6% due to tea cost inflation, partially offset by price increases (46% recovery in Q4). PAT surged 64% to INR 349 crore, aided by one-off credits. Growth businesses (Sampann, Soulful, etc.) now account for 28% of India revenue, growing 24%. International EBITDA margins expanded 190 bps for the full year. Management expects tea costs to soften with a normal crop, targeting EBITDA margin recovery to ~16% by Q2/Q3 FY26. Key risk: sustained tea cost inflation or adverse crop conditions could delay margin recovery.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects EBITDA margins to normalize to ~16% as tea costs soften with a normal crop, with recovery starting by end of Q2 FY26.
- Sampann, Soulful, and other growth businesses are expected to continue growing at ~30% annually, maintaining their 30% revenue contribution target.
- Management remains confident of 30% revenue growth for Capital Foods and Organic India in FY26, with margins in line with business case.
- Capex for FY26 will be similar to FY25 levels, with no significant new investments; Vietnam capex continues into H1 FY26.
Risks flagged
- Tea prices remain ~15% higher YoY; if crop normalizes slower than expected, margin recovery could be delayed beyond Q2 FY26.
- Analyst noted that unlike previous cycles, branded players are not gaining market share; management attributed this to down-trading to cheaper options, which could persist if inflation continues.
- Potential U.S. tariffs could affect coffee and tea exports; management downplayed the impact but acknowledged uncertainty, especially for Organic India exports.
- Analyst raised concern about revenue momentum in U.K./U.S. due to recession risks; management expressed confidence in U.K. but was less certain on U.S.
Key quotes
- If you had added back the impact of the tea prices, my EBITDA margins would have expanded 80 basis points.
- We have passed on about 30% of the tea costs for the full year. For the quarter, it is now 46%.
- The only question I would ask Ray is what will be the final tariffs. If someone tells me that then I would be very happy to answer.
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