TATA CONSUMER PRODUCTS LIMITED Q3 FY2026 Results
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Overview
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Detailed Analysis
Sentiment
Positive
Executive Summary
Tata Consumer Q3 FY2026: Revenue ₹5,112.00 Cr (vs ₹4,443.56 Cr YoY), PAT ₹384.52 Cr (vs ₹281.92 Cr YoY)
In Q3 FY2026 Tata Consumer reported consolidated Revenue from Operations of ₹5,112.00 Cr and Group Consolidated Net Profit of ₹384.52 Cr. Revenue grew on broad-based strength across Branded India, International and Non‑Branded businesses while operating performance improved with lower finance costs. Results include Exceptional Items of (₹22.86) Cr reflecting sale of non‑core asset and incremental impact of new labour codes and write‑offs. Management noted ongoing investments behind brands and will evaluate the impact of labour code rules when notified.Revenue (Consolidated) Q3 FY2026
₹5,112.00 Crvs ₹4,443.56 Cr in Q3 FY2025
Group Consolidated Net Profit Q3 FY2026
₹384.52 Crvs ₹281.92 Cr in Q3 FY2025
Profit before Exceptional items and Tax (Consolidated) Q3 FY2026
₹562.77 Crvs ₹408.09 Cr in Q3 FY2025
Operating margin (Consolidated) Q3 FY2026
11.13%vs 9.62% in Q3 FY2025
Net profit margin (Consolidated) Q3 FY2026
7.52%vs 6.34% in Q3 FY2025
Finance Costs (Consolidated) Q3 FY2026
₹31.62 Crvs ₹57.92 Cr in Q3 FY2025
Exceptional Items (Net) (Consolidated) Q3 FY2026
-₹22.86 Crvs ₹
Branded India Revenue (Segment) Q3 FY2026
₹3,203.12 Crvs ₹2,833.68 Cr in Q3 FY2025
Key Highlights
10
Consolidated Revenue of ₹5,112.00 Cr in Q3 FY2026 grew 15% YoY driven by 13% underlying growth in India Business, 11% in International and 20% in Non‑Branded Business as noted by management.
Profit before exceptional items and tax rose to ₹562.77 Cr in Q3 FY2026 from ₹408.09 Cr in Q3 FY2025 primarily due to higher operating profits and lower finance costs.
Exceptional item of ₹(22.86) Cr in Q3 FY2026 comprises profit on sale of non‑core asset of ₹35 Cr, incremental impact of New Labour Codes of ₹23 Cr and assets written off of ₹35 Cr as disclosed in notes.
Branded Business total revenue was ₹4,602.79 Cr in Q3 FY2026 with India Business at ₹3,203.12 Cr and International Business at ₹1,399.67 Cr, indicating India remains the largest revenue driver.
Finance costs fell to ₹31.62 Cr in Q3 FY2026 from ₹57.92 Cr in Q3 FY2025, contributing to improved profitability.
Non‑Branded Business revenue of ₹546.67 Cr in Q3 FY2026 was supported by plantation/extraction sales but reported lower margins versus prior year due to reversals of prior fair value gains.
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Key Highlights
10
Consolidated Revenue of ₹5,112.00 Cr in Q3 FY2026 grew 15% YoY driven by 13% underlying growth in India Business, 11% in International and 20% in Non‑Branded Business as noted by management.
Profit before exceptional items and tax rose to ₹562.77 Cr in Q3 FY2026 from ₹408.09 Cr in Q3 FY2025 primarily due to higher operating profits and lower finance costs.
Exceptional item of ₹(22.86) Cr in Q3 FY2026 comprises profit on sale of non‑core asset of ₹35 Cr, incremental impact of New Labour Codes of ₹23 Cr and assets written off of ₹35 Cr as disclosed in notes.
Branded Business total revenue was ₹4,602.79 Cr in Q3 FY2026 with India Business at ₹3,203.12 Cr and International Business at ₹1,399.67 Cr, indicating India remains the largest revenue driver.
Finance costs fell to ₹31.62 Cr in Q3 FY2026 from ₹57.92 Cr in Q3 FY2025, contributing to improved profitability.
Non‑Branded Business revenue of ₹546.67 Cr in Q3 FY2026 was supported by plantation/extraction sales but reported lower margins versus prior year due to reversals of prior fair value gains.
Other comprehensive income included a foreign exchange translation gain of ₹114.11 Cr in Q3 FY2026 versus a loss of ₹83.13 Cr in Q3 FY2025, materially boosting total comprehensive income.
Total expenses (excluding tax) increased to ₹4,582.64 Cr in Q3 FY2026 from ₹4,087.07 Cr in Q3 FY2025 reflecting higher cost of materials and other operating spends.
Share of loss from Associates and Joint Ventures was ₹(18.27) Cr in Q3 FY2026 and marginally larger versus ₹(17.83) Cr in Q3 FY2025, slightly offsetting Group profits.
Net worth at consolidated level stood at ₹22,140.67 Cr as of Q3 FY2026 per Regulation 52(4) disclosures.
Guidance & Outlook
4
Management highlighted continued investments behind brands which will support growth into Q4 FY2026 while monitoring input cost trends.
The Group will evaluate and account for the detailed rules under the New Labour Codes when notified, indicating potential further one‑time impacts to be assessed.
Management expects to sustain branded margin expansion in India aided by tapering tea cost inflation, subject to commodity cost volatility.
No specific capex quantum was disclosed in the quarterly release; investors should monitor subsequent disclosures for capital allocation updates.
Risks & Concerns
5
Incremental impact of the New Labour Codes resulted in a charge (part of Exceptional Items) and further rule notifications may create additional non‑recurring costs.
Exceptional Items of ₹(22.86) Cr in Q3 FY2026 include write‑offs and restructuring elements which reduce comparability of underlying operating profitability.
Exposure to commodity cost inflation (tea and coffee) remains a margin risk, with coffee inflation noted as a headwind in International business.
Non‑Branded Business margins declined due to reversals of prior fair value gains, exposing volatility in plantation/extraction profitability.
Share of loss from Associates and Joint Ventures of ₹(18.27) Cr in Q3 FY2026 could drag consolidated earnings if associate performance does not recover.
AI-generated analysis. May contain inaccuracies — verify against original sources.