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Motilal Oswal Report
Tata Consumer Products Ltd. is following a two-pronged growth approach:
focusing on new growth engines such as Tata Sampann, NourishCo, Tata Soulfull and the readyto-eat/ready-to-consume business (Tata Smartfoodz); and
rapidly scaling up its distribution network along with digitisation prowess across the supply chain, which will drive the next leg of growth.
We expect a revenue/Ebitda/profit after tax compound annual growth rate of 10%/15%/22% over FY23-26 and arrive at our SoTP-based target price of Rs 1,110. We reiterate our 'Buy' rating.
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