TATA CONSUMER PRODUCTS LTD SCREENER.

IN

Narration Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24
Sales 3,175.41 3,326.83 3,363.05 3,474.55 3,618.73 3,741.21 3,733.78 3,803.92 3,926.94 4,352.07
Expenses 2,731.08 2,869.53 2,929.21 3,020.89 3,107.06 3,196.18 3,196.69 3,231.54 3,297.34 3,684.69
Operating Profit 444.33 457.30 433.84 453.66 511.67 545.03 537.09 572.38 629.60 667.38
Other Income 28.74 11.37 140.53 127.50 48.93 52.59 75.28 -31.94 -177.35 22.07
Depreciation 72.11 72.92 73.14 75.16 82.86 81.95 93.93 85.51 115.76 148.00
Interest 16.41 16.27 19.55 23.68 27.66 26.23 27.56 33.19 42.83 93.60
Profit before tax 384.55 379.48 481.68 482.32 450.08 489.44 490.88 421.74 293.66 447.85
Tax 95.32 102.97 126.70 112.87 104.50 130.87 131.70 106.21 25.95 133.70
Net profit 217.54 255.46 327.96 351.76 268.59 316.59 338.24 278.87 216.63 290.32

OPM 14% 14% 13% 13% 14% 15% 14% 15% 16% 15%
TATA CONSUMER PRODUCTS LTD SCREENER.IN

Narration Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Trailing Best Case Worst Case
Sales 7,993.39 6,636.54 6,779.55 6,815.35 7,251.50 9,637.42 11,602.03 12,425.37 13,783.16 15,205.85 15,816.71 16,775.39 16,377.33
Expenses 7,201.19 6,270.63 5,988.42 5,976.44 6,465.59 8,345.27 10,058.27 10,706.59 11,926.69 12,921.75 13,410.26 14,223.08 14,329.66
Operating Profit 792.20 365.91 791.13 838.91 785.91 1,292.15 1,543.76 1,718.78 1,856.47 2,284.10 2,406.45 2,552.31 2,047.68
Other Income -77.36 37.54 88.40 73.02 123.84 -163.20 90.73 88.00 328.33 -81.42 -111.94 - -
Depreciation 133.10 116.79 126.04 116.04 122.57 241.71 254.74 278.01 304.08 377.15 443.20 443.20 443.20
Interest 81.86 116.90 91.53 42.76 52.47 77.86 68.69 72.78 87.16 129.81 197.18 197.18 197.18
Profit before tax 499.88 169.76 661.96 753.13 734.71 809.38 1,311.06 1,455.99 1,793.56 1,695.72 1,654.13 1,911.93 1,407.30
Tax 215.52 200.01 198.31 185.87 260.88 274.19 317.27 377.04 447.04 394.73 397.56 24% 24%
Net profit 247.82 -5.52 389.44 495.56 408.19 459.76 856.69 935.78 1,203.77 1,150.33 1,124.06 1,452.41 1,069.06
EPS 3.86 -0.08 5.94 7.56 6.23 4.80 8.95 9.78 12.48 11.63 11.36 14.68 10.81
Price to earning 38.07 -1,421.93 25.03 33.80 32.35 60.62 70.50 78.53 56.11 93.14 103.32 103.32 59.15
Price 146.97 119.76 148.70 255.57 201.45 291.23 631.06 767.86 700.15 1,082.74 1,173.85 1,516.74 639.07

RATIOS:
Dividend Payout 5.61% 0.00% 38.08% 29.93% 38.65% 54.12% 43.57% 59.58% 65.21% 64.19%
OPM 9.91% 5.51% 11.67% 12.31% 10.84% 13.41% 13.31% 13.83% 13.47% 15.02% 15.21%

TRENDS: 10 YEARS 7 YEARS 5 YEARS 3 YEARS RECENT BEST WORST

Sales Growth 7.41% 12.23% 15.96% 9.44% 10.32% 10.32% 7.41%
OPM 12.50% 13.45% 13.88% 14.15% 15.21% 15.21% 12.50%
Price to Earning 59.15 66.04 77.04 82.77 103.32 103.32 59.15
COMPANY NAME TATA CONSUMER PRODUCTS LTD
LATEST VERSION 2.10 PLE
CURRENT VERSION 2.10

META
Number of shares 98.94
Face Value 1.00
Current Price 1,173.85
Market Capitalization 116,141.14

PROFIT & LOSS

Report Date Mar-15 Mar-16 Mar-17 Mar-18
Sales 7,993.39 6,636.54 6,779.55 6,815.35
Raw Material Cost 3,416.05 3,601.49 3,165.65 3,746.11
Change in Inventory 51.25 -20.11 0.69 46.80
Power and Fuel 84.78 81.26 83.19 87.07
Other Mfr. Exp 691.21 190.32 597.61 194.69
Employee Cost 857.67 805.06 834.95 821.37
Selling and admin 1,919.35 922.88 926.92 857.64
Other Expenses 283.38 649.51 380.79 316.36
Other Income -77.36 37.54 88.40 73.02
Depreciation 133.10 116.79 126.04 116.04
Interest 81.86 116.90 91.53 42.76
Profit before tax 499.88 169.76 661.96 753.13
Tax 215.52 200.01 198.31 185.87
Net profit 247.82 -5.52 389.44 495.56
Dividend Amount 13.91 142.00 148.31 148.31

Quarters
Report Date Mar-22 Jun-22 Sep-22 Dec-22
Sales 3,175.41 3,326.83 3,363.05 3,474.55
Expenses 2,731.08 2,869.53 2,929.21 3,020.89
Other Income 28.74 11.37 140.53 127.50
Depreciation 72.11 72.92 73.14 75.16
Interest 16.41 16.27 19.55 23.68
Profit before tax 384.55 379.48 481.68 482.32
Tax 95.32 102.97 126.70 112.87
Net profit 217.54 255.46 327.96 351.76
Operating Profit 444.33 457.30 433.84 453.66
BALANCE SHEET
Report Date Mar-15 Mar-16 Mar-17 Mar-18
Equity Share Capital 61.84 63.11 63.11 63.11
Reserves 5,430.95 6,184.06 6,202.39 6,968.49
Borrowings 1,324.02 1,354.05 786.56 1,067.58
Other Liabilities 2,640.77 2,293.54 2,499.35 2,361.58
Total 9,457.58 9,894.76 9,551.41 10,460.76
Net Block 4,921.69 4,661.80 4,572.59 4,798.18
Capital Work in Progress 47.17 39.42 63.19 135.16
Investments 622.02 1,365.94 1,451.04 1,161.33
Other Assets 3,866.70 3,827.60 3,464.59 4,366.09
Total 9,457.58 9,894.76 9,551.41 10,460.76
Receivables 616.09 592.43 592.45 648.28
Inventory 1,625.30 1,629.01 1,452.96 1,448.31
Cash & Bank 544.24 501.03 574.82 1,238.14
No. of Equity Shares ### ### ### ###
New Bonus Shares
Face value 1.00 1.00 1.00 1.00

CASH FLOW:
Report Date Mar-15 Mar-16 Mar-17 Mar-18
Cash from Operating Activity 417.81 115.98 741.20 355.58
Cash from Investing Activity -207.05 144.62 145.05 -31.10
Cash from Financing Activity -392.38 -281.80 -815.84 -30.39
Net Cash Flow -181.62 -21.20 70.41 294.09

PRICE: 146.97 119.76 148.70 255.57

DERIVED:
Adjusted Equity Shares in Cr 64.20 65.54 65.54 65.54
 PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

7,251.50 9,637.42 11,602.03 12,425.37 13,783.16 15,205.85
4,022.05 5,402.90 6,367.79 6,323.22 7,107.06 7,364.06
14.41 -7.78 149.54 39.78 273.88 121.60
89.28 103.84 97.36 123.90 149.43 156.90
209.59 238.47 941.75 1,139.59 1,578.20 1,768.03
806.30 884.80 970.23 1,048.00 1,120.36 1,258.59
968.23 1,278.16 1,421.46 1,691.83 1,785.26 1,927.15
384.55 429.32 409.22 419.83 460.26 568.62
123.84 -163.20 90.73 88.00 328.33 -81.42
122.57 241.71 254.74 278.01 304.08 377.15
52.47 77.86 68.69 72.78 87.16 129.81
734.71 809.38 1,311.06 1,455.99 1,793.56 1,695.72
260.88 274.19 317.27 377.04 447.04 394.73
408.19 459.76 856.69 935.78 1,203.77 1,150.33
157.78 248.83 373.25 557.57 785.00 738.42

Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24

3,618.73 3,741.21 3,733.78 3,803.92 3,926.94 4,352.07
3,107.06 3,196.18 3,196.69 3,231.54 3,297.34 3,684.69
48.93 52.59 75.28 -31.94 -177.35 22.07
82.86 81.95 93.93 85.51 115.76 148.00
27.66 26.23 27.56 33.19 42.83 93.60
450.08 489.44 490.88 421.74 293.66 447.85
104.50 130.87 131.70 106.21 25.95 133.70
268.59 316.59 338.24 278.87 216.63 290.32
511.67 545.03 537.09 572.38 629.60 667.38
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
63.11 92.16 92.16 92.16 92.90 95.28
7,268.58 13,722.70 14,442.35 15,049.78 16,183.81 15,961.51
1,141.10 1,586.32 1,633.55 1,412.01 1,600.04 3,477.22
2,407.89 3,071.86 4,049.76 4,520.92 4,885.74 8,344.78
10,880.68 18,473.04 20,217.82 21,074.87 22,762.49 27,878.79
4,913.31 11,656.04 12,023.13 12,599.35 13,070.04 19,357.90
424.41 95.35 112.85 246.97 294.90 189.60
1,187.66 1,322.85 805.89 797.28 1,432.97 870.55
4,355.30 5,398.80 7,275.95 7,431.27 7,964.58 7,460.74
10,880.68 18,473.04 20,217.82 21,074.87 22,762.49 27,878.79
680.55 922.41 761.32 835.15 798.33 896.75
1,608.54 1,712.03 2,249.16 2,266.51 2,701.67 2,769.35
1,033.61 1,621.46 3,074.88 2,599.89 2,796.94 2,454.49
### ### ### ### ### ###

1.00 1.00 1.00 1.00 1.00 1.00

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

209.87 1,082.23 1,656.37 1,515.81 1,461.29 1,936.68
53.17 -622.04 -346.50 -1,317.11 -833.61 -1,910.77
-223.73 -308.33 -426.03 -994.77 -714.40 255.55
39.31 151.86 883.84 -796.07 -86.72 281.46

201.45 291.23 631.06 767.86 700.15 1,082.74

65.54 95.70 95.70 95.70 96.47 98.95

 Historical Financial Statements - TATA CONSUM
Years Mar-15 Mar-16 Mar-17 Mar-18

# Income Statement
Sales ₹ 7,993.4 ₹ 6,636.5 ₹ 6,779.6 ₹ 6,815.4
Sales Growth - -16.97% 2.15% 0.53%

COGS ₹ 4,998.5 ₹ 4,698.2 ₹ 4,680.7 ₹ 4,802.4

COGS % Sales 62.53% 70.79% 69.04% 70.47%

Gross Profit ₹ 2,994.93 ₹ 1,938.30 ₹ 2,098.84 ₹ 2,012.91

Gross Margin 37.47% 29.21% 30.96% 29.53%

Selling & General Expenses ₹ 2,202.73 ₹ 1,572.39 ₹ 1,307.71 ₹ 1,174.00

S & G Expenses % Sales 27.56% 23.69% 19.29% 17.23%

EBITDA ₹ 792.20 ₹ 365.91 ₹ 791.13 ₹ 838.91

EBITDA % Sales 9.91% 5.51% 11.67% 12.31%

Interest ₹ 81.86 ₹ 116.90 ₹ 91.53 ₹ 42.76

Interest % Sales 1.64% 2.49% 1.96% 0.89%

Depreciation ₹ 133.10 ₹ 116.79 ₹ 126.04 ₹ 116.04

Depreciation % Sales 1.67% 1.76% 1.86% 1.70%

Earnings Before Tax ₹ 577.2 ₹ 132.2 ₹ 573.6 ₹ 680.1

EBT % Sales 7.22% 1.99% 8.46% 9.98%

Tax ₹ 215.5 ₹ 200.0 ₹ 198.3 ₹ 185.9

Effective Tax Rate 37.34% 151.27% 34.58% 27.33%

Net Profit ₹ 361.7 (₹ 67.8) ₹ 375.3 ₹ 494.2

Net Margins 4.53% -1.02% 5.54% 7.25%

No. of Equity Shares ₹ 64.2 ₹ 65.5 ₹ 65.5 ₹ 65.5

Earnings Per Shares ₹ 5.6 (₹ 1.0) ₹ 5.7 ₹ 7.5

EPS Growth % - -118.36% -653.55% 31.71%

Dividend Per Share ₹ 0.2 ₹ 2.2 ₹ 2.3 ₹ 2.3

Dividend Payout Ratio 3.85% -209.47% 39.52% 30.01%

Retained Earnings 96.15% 0.00% 60.48% 69.99%

# Balance Sheet
Equity Share Capital ₹ 61.8 ₹ 63.1 ₹ 63.1 ₹ 63.1
Reserves ₹ 5,431.0 ₹ 6,184.1 ₹ 6,202.4 ₹ 6,968.5
Borrowings ₹ 1,324.0 ₹ 1,354.1 ₹ 786.6 ₹ 1,067.6
Other Liabilities ₹ 2,640.8 ₹ 2,293.5 ₹ 2,499.4 ₹ 2,361.6
Total Liabilities ₹ 9,457.6 ₹ 9,894.8 ₹ 9,551.4 ₹ 10,460.8
 Fixed Assets Net Block ₹ 4,921.7 ₹ 4,661.8 ₹ 4,572.6 ₹ 4,798.2
Capital Work in Progress ₹ 47.2 ₹ 39.4 ₹ 63.2 ₹ 135.2
Investments ₹ 622.0 ₹ 1,365.9 ₹ 1,451.0 ₹ 1,161.3
Other Assets ₹ 1,081.1 ₹ 1,105.1 ₹ 844.4 ₹ 1,031.4
Total Non Current Asstes ₹ 6,671.9 ₹ 7,172.3 ₹ 6,931.2 ₹ 7,126.0

Receivables ₹ 616.1 ₹ 592.4 ₹ 592.5 ₹ 648.3

Inventory ₹ 1,625.3 ₹ 1,629.0 ₹ 1,453.0 ₹ 1,448.3
Cash & Bank ₹ 544.2 ₹ 501.0 ₹ 574.8 ₹ 1,238.1
Total Current Assets ₹ 2,785.6 ₹ 2,722.5 ₹ 2,620.2 ₹ 3,334.7

Total Assets ₹ 9,457.6 ₹ 9,894.8 ₹ 9,551.4 ₹ 10,460.8

Check 1 1 1 1

# Cash Flow Statement

Operating Activities
Profit from operations ₹ 43,397.0 ₹ 38,626.0 ₹ 28,840.0 ₹ 33,312.0
Receivables (₹ 3,179.0) (₹ 2,223.0) (₹ 4,152.0) (₹ 10,688.0)
Inventory (₹ 3,692.0) (₹ 5,743.0) (₹ 6,621.0) (₹ 3,560.0)
Payables ₹ 3,598.0 ₹ 3,947.0 ₹ 9,301.0 ₹ 7,320.0
Loans Advances ₹ 0.0 (₹ 520.0) ₹ 0.0 ₹ 0.0
Other WC items (₹ 398.0) ₹ 5,852.0 ₹ 4,727.0 ₹ 494.0
Working capital changes (₹ 3,672.0) ₹ 1,313.0 ₹ 3,254.0 (₹ 6,434.0)
Direct taxes (₹ 4,194.0) (₹ 2,040.0) (₹ 1,895.0) (₹ 3,021.0)
Cash From Operating Activities ₹ 31,860.0 ₹ 39,212.0 ₹ 33,454.0 ₹ 17,423.0

Investing Activities
Fixed assets purchased (₹ 31,962.0) (₹ 31,503.0) (₹ 16,072.0) (₹ 35,079.0)
Fixed assets sold ₹ 74.0 ₹ 59.0 ₹ 53.0 ₹ 30.0
Investments purchased (₹ 5,461.0) (₹ 4,728.0) (₹ 6.0) (₹ 329.0)
Investments sold ₹ 42.0 ₹ 89.0 ₹ 1,965.0 ₹ 2,381.0
Interest received ₹ 698.0 ₹ 731.0 ₹ 638.0 ₹ 690.0
Dividends received ₹ 80.0 ₹ 58.0 ₹ 620.0 ₹ 1,797.0
Investment in group cos (₹ 160.0) ₹ 0.0 (₹ 107.0) (₹ 4.0)
Redemp n Canc of Shares ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 14.0
Acquisition of companies ₹ 0.0 (₹ 111.0) ₹ 0.0 ₹ 0.0
Inter corporate deposits ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0
Other investing items ₹ 456.0 (₹ 1,289.0) (₹ 26,663.0) ₹ 5,360.0
Cash From Investing Activity (₹ 36,233.0) (₹ 36,694.0) (₹ 39,572.0) (₹ 25,140.0)

Financing Activity
Proceeds from shares ₹ 0.0 ₹ 7,433.0 ₹ 5.0 ₹ 0.0
Redemption of debentures (₹ 744.0) ₹ 0.0 ₹ 0.0 ₹ 0.0
Proceeds from borrowings ₹ 36,363.0 ₹ 19,519.0 ₹ 33,390.0 ₹ 37,482.0
Repayment of borrowings (₹ 23,332.0) (₹ 24,924.0) (₹ 21,732.0) (₹ 29,964.0)
Interest paid fin (₹ 6,307.0) (₹ 5,716.0) (₹ 5,336.0) (₹ 5,411.0)
Dividends paid (₹ 720.0) (₹ 108.0) (₹ 121.0) (₹ 96.0)
Financial liabilities ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0
Other financing items (₹ 57.0) ₹ 0.0 ₹ 0.0 ₹ 0.0
 Cash From Financing Activity ₹ 5,203.0 (₹ 3,796.0) ₹ 6,206.0 ₹ 2,011.0

Net Cash Flow ₹ 830.0 (₹ 1,278.0) ₹ 88.0 (₹ 5,706.0)

# Cash Flow Statement

Cash from Operating Activity 35531.26 37899.54 30199.25 23857.42

Cash from Investing Activity -36232.35 -36693.9 -39571.4 -25139.14
Cash from Financing Activity 5201.44 -3795.12 6205.3 2011.71
Net Cash Flow 4500.35 -2589.48 -3166.85 729.99
Statements - TATA CONSUMER PRODUCTS LTD
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 LTM

₹ 7,251.5 ₹ 9,637.4 ₹ 11,602.0 ₹ 12,425.4 ₹ 13,783.2 ₹ 15,205.9 ₹ 15,816.7

6.40% 32.90% 20.39% 7.10% 10.93% 10.32% 4.02%

₹ 5,112.8 ₹ 6,637.8 ₹ 8,227.6 ₹ 8,594.9 ₹ 9,681.2 ₹ 10,426.0 ₹ 13,410.3

70.51% 68.88% 70.92% 69.17% 70.24% 68.57% 84.79%

₹ 2,138.69 ₹ 2,999.63 ₹ 3,374.44 ₹ 3,830.44 ₹ 4,101.99 ₹ 4,779.87 ₹ 2,406.45

29.49% 31.12% 29.08% 30.83% 29.76% 31.43% 15.21%

₹ 1,352.78 ₹ 1,707.48 ₹ 1,830.68 ₹ 2,111.66 ₹ 2,245.52 ₹ 2,495.77

18.66% 17.72% 15.78% 16.99% 16.29% 16.41% 0.00%

₹ 785.91 ₹ 1,292.15 ₹ 1,543.76 ₹ 1,718.78 ₹ 1,856.47 ₹ 2,284.10

10.84% 13.41% 13.31% 13.83% 13.47% 15.02% 0.00%

₹ 52.47 ₹ 77.86 ₹ 68.69 ₹ 72.78 ₹ 87.16 ₹ 129.81 ₹ 197.18

1.03% 1.17% 0.83% 0.85% 0.90% 1.25% 1.47%

₹ 122.57 ₹ 241.71 ₹ 254.74 ₹ 278.01 ₹ 304.08 ₹ 377.15 ₹ 443.2

1.69% 2.51% 2.20% 2.24% 2.21% 2.48% 2.80%

₹ 610.9 ₹ 972.6 ₹ 1,220.3 ₹ 1,368.0 ₹ 1,465.2 ₹ 1,777.1 (₹ 640.4)

8.42% 10.09% 10.52% 11.01% 10.63% 11.69% -4.05%

₹ 260.9 ₹ 274.2 ₹ 317.3 ₹ 377.0 ₹ 447.0 ₹ 394.7 ₹ 397.6

42.71% 28.19% 26.00% 27.56% 30.51% 22.21% -62.08%

₹ 350.0 ₹ 698.4 ₹ 903.1 ₹ 991.0 ₹ 1,018.2 ₹ 1,382.4 (₹ 1,037.9)

4.83% 7.25% 7.78% 7.98% 7.39% 9.09% -6.56%

₹ 65.5 ₹ 95.7 ₹ 95.7 ₹ 95.7 ₹ 96.5 ₹ 99.0 ₹ 0.0

₹ 5.3 ₹ 7.3 ₹ 9.4 ₹ 10.4 ₹ 10.6 ₹ 14.0 ₹ 0.0

-29.19% 36.66% 29.31% 9.73% 1.93% 32.37% -100.00%

₹ 2.4 ₹ 2.6 ₹ 3.9 ₹ 5.8 ₹ 8.1 ₹ 7.5 ₹ 0.0

45.08% 35.63% 41.33% 56.27% 77.10% 53.42% 0.00%

54.92% 64.37% 58.67% 43.73% 22.90% 46.58% 0.00%

₹ 63.1 ₹ 92.2 ₹ 92.2 ₹ 92.2 ₹ 92.9 ₹ 95.3

₹ 7,268.6 ₹ 13,722.7 ₹ 14,442.4 ₹ 15,049.8 ₹ 16,183.8 ₹ 15,961.5
₹ 1,141.1 ₹ 1,586.3 ₹ 1,633.6 ₹ 1,412.0 ₹ 1,600.0 ₹ 3,477.2
₹ 2,407.9 ₹ 3,071.9 ₹ 4,049.8 ₹ 4,520.9 ₹ 4,885.7 ₹ 8,344.8
₹ 10,880.7 ₹ 18,473.0 ₹ 20,217.8 ₹ 21,074.9 ₹ 22,762.5 ₹ 27,878.8
 ₹ 4,913.3 ₹ 11,656.0 ₹ 12,023.1 ₹ 12,599.4 ₹ 13,070.0 ₹ 19,357.9
₹ 424.4 ₹ 95.4 ₹ 112.9 ₹ 247.0 ₹ 294.9 ₹ 189.6
₹ 1,187.7 ₹ 1,322.9 ₹ 805.9 ₹ 797.3 ₹ 1,433.0 ₹ 870.6
₹ 1,032.6 ₹ 1,142.9 ₹ 1,190.6 ₹ 1,729.7 ₹ 1,667.6 ₹ 1,340.1
₹ 7,558.0 ₹ 14,217.1 ₹ 14,132.5 ₹ 15,373.3 ₹ 16,465.6 ₹ 21,758.2

₹ 680.6 ₹ 922.4 ₹ 761.3 ₹ 835.2 ₹ 798.3 ₹ 896.8

₹ 1,608.5 ₹ 1,712.0 ₹ 2,249.2 ₹ 2,266.5 ₹ 2,701.7 ₹ 2,769.4
₹ 1,033.6 ₹ 1,621.5 ₹ 3,074.9 ₹ 2,599.9 ₹ 2,796.9 ₹ 2,454.5
₹ 3,322.7 ₹ 4,255.9 ₹ 6,085.4 ₹ 5,701.6 ₹ 6,296.9 ₹ 6,120.6

₹ 10,880.7 ₹ 18,473.0 ₹ 20,217.8 ₹ 21,074.9 ₹ 22,762.5 ₹ 27,878.8

1 1 1 1 1 TRUE

₹ 28,771.0 ₹ 23,352.0 ₹ 31,198.0 ₹ 26,943.0 ₹ 41,694.0 ₹ 65,106.0

(₹ 9,109.0) ₹ 9,950.0 (₹ 5,505.0) ₹ 185.0 (₹ 2,213.0) (₹ 1,875.0)
₹ 2,069.0 ₹ 2,326.0 ₹ 3,814.0 ₹ 472.0 (₹ 5,665.0) (₹ 7,265.0)
(₹ 4,692.0) (₹ 8,085.0) ₹ 5,748.0 (₹ 7,012.0) ₹ 6,945.0 ₹ 13,706.0
₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0
₹ 4,512.0 ₹ 875.0 (₹ 4,150.0) (₹ 4,396.0) (₹ 2,194.0) ₹ 2,760.0
(₹ 7,221.0) ₹ 5,065.0 (₹ 93.0) (₹ 10,750.0) (₹ 3,127.0) ₹ 7,325.0
(₹ 2,659.0) (₹ 1,785.0) (₹ 2,105.0) (₹ 1,910.0) (₹ 3,179.0) (₹ 4,516.0)
₹ 11,671.0 ₹ 31,698.0 ₹ 28,907.0 ₹ 3,532.0 ₹ 32,261.0 ₹ 75,241.0

(₹ 35,304.0) (₹ 29,702.0) (₹ 20,205.0) (₹ 15,168.0) (₹ 19,230.0) (₹ 31,414.0)

₹ 67.0 ₹ 171.0 ₹ 351.0 ₹ 230.0 ₹ 285.0 ₹ 231.0
(₹ 130.0) (₹ 1,439.0) (₹ 7,530.0) (₹ 3,008.0) (₹ 50.0) (₹ 74.0)
₹ 5,644.0 ₹ 21.0 ₹ 226.0 ₹ 104.0 ₹ 6,895.0 ₹ 10,820.0
₹ 761.0 ₹ 1,104.0 ₹ 428.0 ₹ 653.0 ₹ 973.0 ₹ 2,493.0
₹ 232.0 ₹ 21.0 ₹ 18.0 ₹ 32.0 ₹ 46.0 ₹ 47.0
(₹ 9.0) (₹ 606.0) (₹ 10.0) ₹ 0.0 ₹ 0.0 (₹ 150.0)
₹ 533.0 ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 19.0 ₹ 108.0
(₹ 8.0) (₹ 27.0) ₹ 0.0 (₹ 98.0) ₹ 0.0 ₹ 0.0
₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0 (₹ 24.0)
₹ 7,335.0 (₹ 2,659.0) ₹ 1,051.0 ₹ 12,813.0 (₹ 4,357.0) (₹ 4,817.0)
(₹ 20,879.0) (₹ 33,116.0) (₹ 25,671.0) (₹ 4,442.0) (₹ 15,419.0) (₹ 22,780.0)

₹ 0.0 ₹ 3,889.0 ₹ 2,603.0 ₹ 19.0 ₹ 20.0 ₹ 82.0

₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0 ₹ 0.0
₹ 51,128.0 ₹ 38,297.0 ₹ 46,641.0 ₹ 46,578.0 ₹ 43,934.0 ₹ 18,747.0
(₹ 35,198.0) (₹ 29,847.0) (₹ 29,709.0) (₹ 42,816.0) (₹ 62,557.0) (₹ 47,332.0)
(₹ 7,005.0) (₹ 7,518.0) (₹ 8,123.0) (₹ 9,251.0) (₹ 9,336.0) (₹ 9,332.0)
(₹ 95.0) (₹ 57.0) (₹ 30.0) (₹ 100.0) (₹ 141.0) (₹ 1,059.0)
₹ 0.0 (₹ 1,346.0) (₹ 1,477.0) (₹ 1,559.0) (₹ 1,517.0) (₹ 1,924.0)
₹ 0.0 (₹ 29.0) ₹ 0.0 ₹ 3,750.0 ₹ 3,355.0 ₹ 3,812.0
₹ 8,830.0 ₹ 3,389.0 ₹ 9,905.0 (₹ 3,379.0) (₹ 26,242.0) (₹ 37,006.0)

(₹ 378.0) ₹ 1,971.0 ₹ 13,141.0 (₹ 4,289.0) (₹ 9,400.0) ₹ 15,455.0

18890.75 26632.94 29000.51 14282.83 35388.01 67915.36

-20878.07 -33114.55 -25672.5 -4443.66 -15417.17 -22781.56
8830.37 3389.61 9904.2 -3380.17 -26242.9 -37005.99
6843.05 -3092 13232.21 6459 -6272.06 8127.81
 Ratio Analysis - TATA CONSUMER PRODUCTS LTD
Years Mar-15 Mar-16 Mar-17 Mar-18 Mar-19

Sales Growth - -16.97% 2.15% 0.53% 6.40%

EBITDA Growth - -53.81% 116.21% 6.04% -6.32%
EBIT Growth - -77.09% 333.79% 18.58% -10.18%
Net Profit Growth - -118.74% -653.55% 31.71% -29.19%
Dividend Growth - 899.98% 4.44% 0.00% 6.39%

Gross Margin 37.47% 29.21% 30.96% 29.53% 29.49%

EBITDA Margin 9.91% 5.51% 11.67% 12.31% 10.84%
EBIT Margin 8.25% 3.75% 9.81% 10.61% 9.15%
EBT Margin 7.22% 1.99% 8.46% 9.98% 8.42%
Net Profit Margin 4.53% -1.02% 5.54% 7.25% 4.83%

SalesExpenses % Sales 27.56% 23.69% 19.29% 17.23% 18.66%

Depreciation % Sales 1.67% 1.76% 1.86% 1.70% 1.69%
Operating Income % Sales 8.25% 3.75% 9.81% 10.61% 9.15%

Return on Capital Employed 9.67% 3.28% 9.43% 8.93% 7.83%

Retained Earnings % 96.15% 0.00% 60.48% 69.99% 54.92%
Return on Equity % 6.59% -1.09% 5.99% 7.03% 4.77%
Self Sustained Growth Rate 6.33% 0.00% 3.62% 4.92% 2.62%
Interest Coverage Ratio 8.05 x 2.13 x 7.27 x 16.91 x 12.64 x

Debtor Turnover Ratio 12.97 x 11.20 x 11.44 x 10.51 x 10.66 x

Creditor Turnover Ratio 3.03 x 2.89 x 2.71 x 2.89 x 3.01 x
Inventory Turnover 4.92 x 4.07 x 4.67 x 4.71 x 4.51 x
Fixed Asset Turnover 1.62 x 1.42 x 1.48 x 1.42 x 1.48 x
Capital Turnover Ratio 1.46 x 1.06 x 1.08 x 0.97 x 0.99 x

Debtor Days 28 days 33 days 32 days 35 days 34 days

Payable Days 121 days 126 days 135 days 126 days 121 days
Inventory Days 74 days 90 days 78 days 78 days 81 days
Cash Conversion Cycle -18 days -4 days -24 days -14 days -6 days

CFO/Sales 444.51% 571.07% 445.45% 350.05% 260.51%

CFO/Total Assets 375.69% 383.03% 316.18% 228.07% 173.62%
CFO/Total Debt 2683.59% 2798.98% 3839.41% 2234.72% 1655.49%
MER PRODUCTS LTD
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Trend

32.90% 20.39% 7.10% 10.93% 10.32%

64.41% 19.47% 11.34% 8.01% 23.03%
59.21% 25.47% 12.10% 7.11% 21.29%
99.55% 29.31% 9.73% 2.75% 35.77%
8.01% 50.00% 49.38% 39.67% -8.29%

31.12% 29.08% 30.83% 29.76% 31.43%

13.41% 13.31% 13.83% 13.47% 15.02%
10.90% 11.11% 11.60% 11.26% 12.54%
10.09% 10.52% 11.01% 10.63% 11.69%
7.25% 7.78% 7.98% 7.39% 9.09%

17.72% 15.78% 16.99% 16.29% 16.41%

2.51% 2.20% 2.24% 2.21% 2.48%
10.90% 11.11% 11.60% 11.26% 12.54%

6.82% 7.97% 8.70% 8.68% 9.76%

64.37% 58.67% 43.73% 22.90% 46.58%
5.06% 6.21% 6.54% 6.26% 8.61%
3.25% 3.65% 2.86% 1.43% 4.01%
13.49 x 18.77 x 19.80 x 17.81 x 14.69 x

10.45 x 15.24 x 14.88 x 17.26 x 16.96 x

3.14 x 2.86 x 2.75 x 2.82 x 1.82 x
5.63 x 5.16 x 5.48 x 5.10 x 5.49 x
0.83 x 0.96 x 0.99 x 1.05 x 0.79 x
0.70 x 0.80 x 0.82 x 0.85 x 0.95 x

35 days 24 days 25 days 21 days 22 days

116 days 127 days 133 days 129 days 200 days
65 days 71 days 67 days 72 days 66 days
-17 days -33 days -42 days -37 days -112 days

276.35% 249.96% 114.95% 256.75% 446.64%

144.17% 143.44% 67.77% 155.47% 243.61%
1678.91% 1775.31% 1011.52% 2211.70% 1953.15%
Mean Median

8.19% 7.10%
20.93% 11.34%
43.36% 18.58%
-65.85% 9.73%
116.62% 8.01%

30.89% 30.29%
11.93% 12.81%
9.90% 10.75%
9.00% 10.04%
6.06% 7.25%

18.96% 17.47%
2.03% 2.03%
9.90% 10.75%

8.11% 8.69%
51.78% 56.79%
5.60% 6.23%
3.27% 3.44%
13.16 x 14.09 x

13.16 x 12.21 x
2.79 x 2.88 x
4.97 x 5.01 x
1.20 x 1.24 x
0.97 x 0.96 x

29 days 30 days
134 days 127 days
74 days 73 days
-31 days -21 days

341.62% 313.20%
223.10% 200.84%
2184.28% 2082.42%
 TATA CONSUMER PRODUCTS LTD - Sales TATA CONSUMER PRODUCTS LTD - EBITDA
Year Weight Year Sales Sales Growth Year Weight Year Sales Sales Growth
1 2015 A 7,993.39 1 2015 A 792.20
2 2016 A 6,636.54 -16.97% 2 2016 A 365.91 -53.81%
3 2017 A 6,779.55 2.15% 3 2017 A 791.13 116.21%
4 2018 A 6,815.35 0.53% 4 2018 A 838.91 6.04%
5 2019 A 7,251.50 6.40% 5 2019 A 785.91 -6.32%
6 2020 A 9,637.42 32.90% 6 2020 A 1,292.15 64.41%
7 2021 A 11,602.03 20.39% 7 2021 A 1,543.76 19.47%
8 2022 A 12,425.37 7.10% 8 2022 A 1,718.78 11.34%
9 2023 A 13,783.16 10.93% 9 2023 A 1,856.47 8.01%
10 2024 A 15,205.85 10.32% 10 2024 A 2,284.10 23.03%
11 2025 E 15,143.47 -0.41% 11 2025 E 2,264.27 -0.87%
12 2026 E 16,112.64 6.40% 12 2026 E 2,452.87 8.33%
13 2027 E 17,081.81 6.01% 13 2027 E 2,641.48 7.69%
14 2028 E 18,050.99 5.67% 14 2028 E 2,830.09 7.14%
15 2029 E 19,020.16 5.37% 15 2029 E 3,018.69 6.66%
16 2030 E 19,989.33 5.10% 16 2030 E 3,207.30 6.25%
 Year Weight Year Sales Sales Growth
1 2013 A 188,793
2 2014 A 232,834 23.33%
3 2015 A 263,159 13.02%
4 2016 A 273,046 3.76%
5 2017 A 269,693 -1.23% Sales R
6 2018 A 291,550 8.10%
500,000
7 2019 A 301,938 3.56%
450,000
8 2020 A 261,068 -13.54%
400,000
9 2021 A 249,795 -4.32%
10 2022 A 278,454 11.47% 350,000
11 2023 A 345,967 24.25% 300,000
12 2024 A 437,928 26.58% 250,000
13 2025 E 367715.83333 -16.03% 200,000
14 2026 E 380771.79487 3.55% 150,000
15 2027 E 393827.75641 3.43% 100,000
16 2028 E 406883.71795 3.32%
50,000
17 2029 E 419939.67949 3.21%
0
2012 A 2014 A 2016 A 2018

367715.8 -0.160328106
380771.8 0.0355055735
393827.8 0.0342881529 Intercept
406883.7 0.0331514509 Year Weight
419939.7 0.0320876972
 Sales Regression

2A 2014 A 2016 A 2018 A 2020 A 2022 A 2024 A 2026 A

Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0%
Upper 95.0%
197988.3333 25885.20992 7.648704952 1.741069E-05 140312.4914 255664.1753 140312.5 255664.2
13055.96154 3517.107446 3.712130419 0.004027148 5219.357791 20892.56529 5219.358 20892.57
Upper 95.0%
 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Cash from Operating Activity - 22,163 36,151 35,531 37,900 30,199 23,857
Profit from operations 24,406 36,303 43,397 38,626 28,840 33,312
Receivables -5,177 445 -3,179 -2,223 -4,152 -10,688
Inventory -2,656 -2,853 -3,692 -5,743 -6,621 -3,560
Payables 8,132 4,694 3,598 3,947 9,301 7,320
Loans Advances 0 0 0 -520 0 0
Other WC items -303 1,870 -398 5,852 4,727 494
Working capital changes -3 4,157 -3,672 1,313 3,254 -6,434
Direct taxes -2,240 -4,308 -4,194 -2,040 -1,895 -3,021
Cash from Investing Activity - -22,969 -27,991 -36,232 -36,694 -39,571 -25,139
Fixed assets purchased -18,863 -26,975 -31,962 -31,503 -16,072 -35,079
Fixed assets sold 37 50 74 59 53 30
Investments purchased 73 -429 -5,461 -4,728 -6 -329
Investments sold 34 4 42 89 1,965 2,381
Interest received 713 653 698 731 638 690
Dividends received 95 40 80 58 620 1,797
Investment in group cos 0 0 -160 0 -107 -4
Redemp n Canc of Shares 0 0 0 0 0 14
Acquisition of companies 0 -185 0 -111 0 0
Inter corporate deposits 45 0 0 0 0 0
Other investing items -5,103 -1,149 456 -1,289 -26,663 5,360
Cash from Financing Activity - -1,692 -3,883 5,201 -3,795 6,205 2,012
Proceeds from shares 1 0 0 7,433 5 0
Redemption of debentures -97 -658 -744 0 0 0
Proceeds from borrowings 27,863 33,258 36,363 19,519 33,390 37,482
Repayment of borrowings -20,395 -29,141 -23,332 -24,924 -21,732 -29,964
Interest paid fin -4,666 -6,171 -6,307 -5,716 -5,336 -5,411
Dividends paid -1,551 -722 -720 -108 -121 -96
Financial liabilities 0 0 0 0 0 0
Other financing items -2,849 -450 -57 0 0 0
Net Cash Flow -2,499 4,277 4,500 -2,589 -3,167 730
 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
18,891 26,633 29,001 14,283 35,388 67,915
28,771 23,352 31,198 26,943 41,694 65,106
-9,109 9,950 -5,505 185 -2,213 -1,875
2,069 2,326 3,814 472 -5,665 -7,265
-4,692 -8,085 5,748 -7,012 6,945 13,706
0 0 0 0 0 0
4,512 875 -4,150 -4,396 -2,194 2,760
-7,221 5,065 -93 -10,750 -3,127 7,325
-2,659 -1,785 -2,105 -1,910 -3,179 -4,516
-20,878 -33,115 -25,672 -4,444 -15,417 -22,782
-35,304 -29,702 -20,205 -15,168 -19,230 -31,414
67 171 351 230 285 231
-130 -1,439 -7,530 -3,008 -50 -74
5,644 21 226 104 6,895 10,820
761 1,104 428 653 973 2,493
232 21 18 32 46 47
-9 -606 -10 0 0 -150
533 0 0 0 19 108
-8 -27 0 -98 0 0
0 0 0 0 0 -24
7,335 -2,659 1,051 12,813 -4,357 -4,817
8,830 3,390 9,904 -3,380 -26,243 -37,006
0 3,889 2,603 19 20 82
0 0 0 0 0 0
51,128 38,297 46,641 46,578 43,934 18,747
-35,198 -29,847 -29,709 -42,816 -62,557 -47,332
-7,005 -7,518 -8,123 -9,251 -9,336 -9,332
-95 -57 -30 -100 -141 -1,059
0 -1,346 -1,477 -1,559 -1,517 -1,924
0 -29 0 3,750 3,355 3,812
6,843 -3,092 13,232 6,459 -6,272 8,128