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Tata Consumer Products sees a huge opportunity in the coffee business in India and will focus on scaling up cafes under its joint venture Tata Starbucks, according to its MD & CEO Sunil D'souza. Tata Starbucks, a 50:50 JV between Tata Consumer Products Ltd (TCPL) and Starbucks Corporation which runs Starbucks cafes in India, plans to take the number to 1,000 cafes by FY2027-28. The JV has 457 stores across 70 cities as of the September quarter. TCPL also expects growth from its vending business Tata MyBistro', a relatively new entrant in the segment offering a variety of coffee, tea and other drinks mainly to institutional customers. "With Starbucks, we are very clear that the store profitability is not an issue. And as we get to scale, we know that we can generate profits out of it," D'souza told PTI. Though, now Starbucks with over 500 outlets has become the largest coffee chain in the country," though it is "significantly under-penetrated" in comparison to similar per capita ..
Tata Consumer Products Ltd (TCPL) beverage business got a hit from the aggressive pricing from rival Campa Cola, forcing it to go for a downward revision of its Tata Gluco Plus. Tata Consumer Product Ltd (TCPL) revenue from its ready-to-drink business declined 11 per cent in the September quarter owing to "competitive pricing action", said its Managing Director and CEO Sunil D'Souza during the post-result investors' call. Reliance Retails Campa Cola has disrupted the beverage market with its Rs 10 pack in PET bottle, forcing the rival beverage makers to reduce their prices to retain their market share and growth. When asked about the penetration and growth, without naming Campa, D'Souza said: "A new player coming in with a different price point disrupted the industry. While on paper it is Rs 10 versus Rs 10 ... it didn't surface quickly enough ... while the Rs 10 was the same to the consumer, the trade price was dramatically different." However other big multinationals such as Coke
Tata Consumer Products Ltd (TCPL) on Friday reported a marginal increase in its consolidated net profit to Rs 367.21 crore in the second quarter ended on September 2024. The company had posted a consolidated net profit of Rs 363.92 crore in the July-September quarter a year ago, according to a regulatory filing from TCPL. Its revenue from operations rose 12.87 per cent to Rs 4,214.45 crore during the quarter under review. It was at Rs 3,733.78 crore in the year-ago period. Total expenses of the TCPL, earlier known as Tata Global Beverages Limited (TGBL), stood at Rs 3,836.18 crore, up 15.61 per cent in the September quarter. In the September quarter, TCPL's overall branded business was up 12.44 per cent to Rs 3,771.2 crore. It was at Rs 3,353.81 crore in the corresponding quarter last fiscal. TCPL's branded businesses include tea, coffee, water and other various value-added businesses. Its revenue from the branded business in India was up 10.44 per cent to Rs 2,655.19 crore in th
FMCG maker Tata Consumer Products Ltd (TCPL) has merged its three wholly-owned subsidiaries after getting approval from NCLT and other regulatory clearances. TCPL has merged its wholly-owned subsidiaries Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd with the company, according to a statement from Tata Group FMCG arm. "We wish to inform you that the conditions outlined under Clause 17 of the Scheme, including the filing of certified copies of the order with the Registrar of Companies, of the respective companies, in Form INC-28, have been duly completed. Accordingly, in terms of the Scheme, the effective date of the scheme (of merger) is September 1, 2024," the company said in a regulatory filing. This is in line with the company's focus on simplifying and streamlining the business. This consolidation of legal entity structure will unlock efficiencies and synergies, it added. "There is no change in the operating structure for these business units a
Tata Consumer Products Ltd on Monday said it has closed its rights issue of Rs 3,000 crore. The company had opened the issue on August 5, Tata Consumer Products Ltd (TCPL) said in a regulatory filing. The meeting of the capital raising committee of the board of the company held on July 23, 2024, approved the terms of the issuance of equity shares face value of Re 1 each by way of rights issue for an amount aggregating up to Rs 2,997.77 crore, it added. "The issue opened on Monday, August 5, 2024 at 9 am and closed today (Monday), August 19, 2024 at 5 pm," the filing said. In January this year, the company's board had approved a fundraising proposal of Rs 3,500 crore, which was meant to be utilised for the acquisitions of stakes in Capital Foods Pvt Ltd and Organic India Pvt Ltd. The company had stated that raising of funds by way of issue of equity shares of face value Re 1 each would not exceed Rs 3,000 crore.