TATA CONSUMER PRODUCTS

“So as we've seen any bit of pressure on costs, we've translated into price to make sure we maintain volume. We remain aggressively focused on expanding margins for the year.”

“So despite the fact that we delivered higher margins in H2 versus H1 last year, we remain confident of continuing to deliver that this year as well.”

“We continue to guide salt for mid-single-digit volume, a couple of basis points of price, and that is what we remain committed to delivering.”

“So Vivek, I'll just go back to my standard answer, right? My tea salt will grow mid- to high single digits.”

“So Tejash, I would say we'll get back to, I would say, low single digits to mid-single-digit volume growth.”

“Salt was another strong quarter of 9% volume and 15% revenue.”

“So India Salt crossed -- was close to INR1,100 crores.”

“India tea volumes were flat. Revenue was marginally lower year-on-year.”

“Growth businesses up 40% to close to INR1,400 crores, continue to be now powering ahead of our salt and tea-coffee businesses.”

“Growth businesses up 40%, now contribute to 38% of India business.”

“I think if I look at overall third-party numbers, it's about negative 6% is what the number shows.”

“There is no spoilsport on the competitive front. So the entire industry table is starting to move up, which should give us comfort on getting margins back quickly.”

“And our growth in quick commerce is almost in the same ballpark. So we are growing with the quick commerce players as they're expanding dark stores, number two.”

“More than a quarter, close to 30% of the industry is still unbranded. So there is leeway on that piece as well. So structurally, I don't see an issue.”

“So overall in terms of direct reach, I think we are now close to around 19 lakh plus stores, number one.”

“Consolidated EBITDA was up 18%, with margins expanding 40 bps to bring EBITDA margin to 14%.”

“Commodities are starting to ease off, especially U.S. coffee, where now coffee is trending at, 3.10, 3.15 versus the 3.30, 3.50 of last year.”

“We have taken pricing roughly, I would say, between Q1 to now, you would have seen roughly around 8% to 10% pricing, which is in line with the inflation that we've seen in tea.”

“Looking at segments. India for the quarter, there was a bit of a contraction of the margin, largely on account of the inflationary pressures that we are seeing on tea and salt.”

“Having said that, of course, we have taken calibrated pricing, which should start from quarter 3.”

“This quarter also, we launched Tata Salt Plus, which is a double purified solar salt variant in the market.”

“We've launched Gold Reserve, which is at a higher than gold. We've launched Chakra Select, which is at a lower than Chakra, trying to grow penetration and market share down south.”

“Ghee, you will see expansion. We've launched Himalayan ghee, which is the Pahadi ghee.”

“Apart from that, we've launched a bunch of other innovations, which are all at the -- aimed at the higher revenue, higher-margin segments, whether it is expanding coffee, whether it is expanding our fruit teas, whether it is Tata Lyfe, which has just got launched in alkaline and is getting expanded”

“And we've launched the Kanan Devan Gold, which is at a 1 notch higher than Kanan Devan.”

“India Tea/Coffee largely impacted by weather, a little bit of price increases in tea and a little bit of a hangover of the disruptions in Q1, of the LPG issues, was down 1%.”

“As I said, this quarter, the disruption in shipping and I think about 10 to 12 days of disruption at the Mundra port was the prime reason for international not coming to the party completely.”

“If oil was not at USD115 and there was no huge swings on the entire packaging, freight, fuel, all these kind of pieces, I think we would be in a position to deliver.”

“So shipping got disrupted a bit apart from the fact that now a lot of shipping is getting diverted instead of going through the Middle East, it's going all the way around.”

“In terms of financial performance, revenue up 14%, EBITDA up 18%, profit before taxes up 21% and net profit at INR470 crores, growing 16%.”

“For the first half, revenue up 13%, EBITDA 18%, profit before tax 24%, net profit up 22%, adjusted EPS of 9.85.”

“because we amortize certain brands, if I take that off, our adjusted EPS is 5.18.”

“In terms of buying, the peak buying is going on right now as we speak because after Puja is the big swing which happens in the north, and that is what is in progress.”

“And in Sampann, also remember, there is no capex, nothing. It's a completely asset-light model.”