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Tata Consumer Products to acquire Kottaram Agro Foods Tata Consumer Products has announced the signing of definitive agreements to acquire 100% equity shares of Kottaram Agro Foods (KAF), owner of the brand Soulfull.
Sunil D’Souza, MD and CEO, Tata Consumer Products, said, “This acquisition is a good strategic fit for us. It opens significant new market opportunities in the fast growing mini-meals segments and helps us partner a passionate and ambitious team of entrepreneurs who will remain and become a part of the Tata Consumer Products team.
KAF was founded by Prashant Parameswaran, Rasika Prashant, Dr KK Narayanan and Amith Sebastian. Its Soulfull brand which was launched in 2013 operates in the health and wellness food segment with its portfolio of millet-based products for kids and adults. “Soulfull synergises well with our existing product portfolio, our distribution network as well as the supply chain. We believe Tata Consume
We’re looking at expanding into high-margin FMCG businesses & acquisitions: Tata Consumer MD Sunil D’Souza
D’Souza said the quarter was driven by improvement in top-line and profit and that integration of its food and beverage businesses is progressing ahead of plan.
Synopsis
“The premise of creating the consumer business was to create a much bigger space in FMCG; but we will go ahead with clearly differentiated products, our approach will be measured, and we will enter categories where we can drive margins,” D’Souza told ET.
New Delhi: Tata Consumer Products will expand its fast-moving consumer goods portfolio with “clearly differentiated products” that command good margins, company managing director Sunil D’Souza said.
On a consolidated basis, Tata Consumer Products reported a 29% rise in net profit to Rs 237 crore on 23% increase in revenue from operations to Rs 3,070 crore in Q3 FY21 over Q3 FY20.
The growth in revenue was driven by strong growth across India and International business. Sequential recovery continues for our out-of-home India businesses i.e. NourishCo & Tata Starbucks.
On the segmental front, total branded business revenue rose by 26% to Rs 2,832 crore while the non branded business revenue increased by 4% to Rs 246 crore in Q3 December 2020 over Q3 December 2019. In the Branded business, the growth was led by India Beverages (up 46% YoY), followed by India Foods (up 19% YoY) and International Beverages (up 9% YoY).
Tata Consumer gains 2%, analysts see further upside
February 03, 2021
Posts net profit of ₹237 crore in Dec-quarter
The shares of Tata Consumer Private Limited were up 2 per cent on Wednesday after the company announced its results for the quarter ended December 2020.
At 10:26 am, TCPL shares were trading at ₹591.70 on the BSE, up ₹16.15 or 2.81 per cent.
It opened at 587.00 as against the previous close of ₹575.55. It hit an intra-day high of ₹597.50 and an intra-day low of ₹571.30.
It was trading at ₹592.35 on the NSE, up ₹17.00 or 2.95 per cent.
The company’s net profit for the quarter stood at ₹237 crores, up by 29 per cent, per regulatory filings. Its revenue from operations for the quarter were ₹3,070 crore, up 23 per cent. Consolidated EBITDA for the quarter grew by 12 per cent to ₹365 crore.