Tata Consumer Q1 FY27 Results (NSE: TATACONSUM)
Signal: Margin expansion
The read
Q1FY27 marks a strong start: revenue +12% YoY with 13% volume growth, EBITDA margin expanding ~134bps YoY to 14.9% on mix shift to growth businesses and accretive international margins, leading to PAT +28% – the second consecutive quarter of YoY margin expansion after three quarters of contraction.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹5,348.88 Cr | 11.9% | -73.6% |
| EBIT | ₹631.3 Cr | 26.5% | |
| Net profit | ₹426.98 Cr | 27.8% | |
| EPS | ₹4.31 | 27.5% | |
| EBIT margin | 14.9% |
P&L walk
Consolidated revenue grew 12% YoY led by 13% UVG in India branded business; EBITDA margin expanded 134bps YoY to 14.9% on mix shift to growth businesses and accretive international margins, driving PAT up 28%.
Key positives
- India Branded Business UVG of 13% – volume-led growth.
- Revenue growth of 12% YoY to ₹5,349 Cr.
- EBITDA margin expanded 134bps YoY to 14.9%.
- PAT growth of 28% YoY to ₹427 Cr.
- Growth businesses scaled to 36% of India business, growing 47%.
- 14 new product launches in the quarter.
Key concerns
- International business constant currency growth muted at 3% – reported growth of 16% is currency-driven.
- Standalone PAT flat YoY due to reliance on other income (51.4% of PBT); operational profit ex-other income barely grew.
- QoQ comparisons in the filing are distorted by lack of sequential data – the -73% QoQ appears to be a data anomaly and not a business trend.
Research and educational content only. Not investment advice.