Tata Starbucks announces Sushant Dash as CEO Designate effective April 1
February 10, 2021
Sushant Dash×
Dash joins Tata Starbucks from Tata Consumer Products where he is currently President – Packaged Beverages Business, India, Bangladesh and Middle East.
Tata Starbucks on Wednesday announced that Sushant Dash will join the company as CEO Designate effective April 1, 2021 and take over as CEO on May 1, 2021.
Navin Gurnaney, CEO, has made the decision to pursue an opportunity outside of the company. Under Gurnaney’s leadership, the company has experienced accelerated growth, new city entries and store formats, numerous contributions related to social impact initiatives, as well as innovative product offerings.
Tata Starbucks announces Sushant Dash CEO Designate effective April 1st
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Q3FY21 Result Update - Tata Consumer Products - ICICI Direct
Posted On: 2021-02-03 23:35:44 (Time Zone: Arizona, USA)
Tata Consumer Products reported strong revenue growth of 23.1% led by robust growth in India beverage & India foods segment. Overall volume growth was ~7%. The sharp increase (70-80%) in tea procurement prices led the company to take aggressive price hikes in tea. In turn, this resulted in 43% growth in the India beverages segment. Still price hikes were insufficient to pass on the entire commodity price rise, which impacted India beverage segment margin by 839 bps. India food business grew 19% led by 12% volume growth. Tata Sampann & Tata Salt Lite saw 40% & 110% sales growth in Q3. International tea business & US coffee business revenue grew 7% & 6%, respectively, led by similar volumes. Gross margins contracted 574 bps but savings in employee spends, marketing spends & other overhead of 94 bps, 125 bps & 256 bps, respectively, restricted operating margins
Tata Consumer Products - Q3 FY21 Result Update - YES Securities
Posted On:
(Rating: BUY, TP: Rs617, Upside 8%)
Market share gains continue in both tea and salt; RM headwinds should normalize by 1QFY22
- While revenues were ahead of expectations, profitability fell short of expectations despite strong cost controls and premiumization.
- Other than the India tea business, most other businesses delivered a strong performance led by strong growth in the salt business, sequential recovery in Starbucks and Nourishco and strong profitability and growth in international beverages.
- While near-term margin headwinds remain for the tea business, sustained improvement in foods and international business margins should help offset that in addition to synergy benefits flowing in.
Tata Consumer Products - The show ( show me story ) is on track - ICICI Securities
Posted On: 2021-02-02 22:28:21 (Time Zone: Arizona, USA)
TCPL delivered a high quality 3Q (10% volume growth in India Beverages and 12% in India Foods). Benefits of distribution integration are visible now. We note (1) despite steep input inflation and price hikes, it reported strong volume growth across segments with market share gains, (2) while there is steep impact on gross margin, the EBITDA margin decline is lower due to operating leverage and cost savings (adspends were higher by 4.1%) and (3) reduction in receivable days by 50% in Dec 20 from 35 days as of Mar 20. We believe strategic acquisitions such as Soulfull can potentially drive strong value in medium term as these small but strong brands can leverage distribution network of TCPL and benefit from TATA brand equity (please see our thematic on BOLT-ONS). There is faster-than-expected recovery in Starbucks with 92% stores open now.
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