TATACONSUMNSE2 February 2023

TATA CONSUMER PRODUCTS LIMITED has informed the Exchange about Investor Presentation

TATA CONSUMER PRODUCTS LIMITED

February 2, 2023

National Stock Exchange of India Limited Exchange Plaza, C-1, G Block Bandra Kurla Complex, Bandra (E) Mumbai 400 051 Scrip Code – TATACONSUM

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400001

Scrip Code - 500800

The Calcutta Stock Exchange Limited 7 Lyons Range Kolkata 700 001 Scrip Code – 10000027 (Demat) 27 (Physical)

Sub: Press Release & Investor Presentation - Financial Results for the quarter and period ended December 31, 2022

Dear Sir/Madam,

We enclose a copy of the Press Release and Investor Presentation with regard to the Company's Unaudited Financial Results for the quarter and period ended December 31, 2022.

We request you take this on record and treat the same as compliance with the applicable provisions of the Listing Regulations.

Thanking you,

Yours Sincerely,

For Tata Consumer Products Limited

Neelabja Chakrabarty Company Secretary & Compliance Officer

Encl.: as above

11/13 Botawala Building 1st Floor Office No 2-6 Horniman Circle Fort Mumbai 400 001 India Tel: 91-22-6121-8400 | Fax: 91-22-61218499 Registered Office: 1, Bishop Lefroy Road, Kolkata – 700 020 Corporate Identity Number (CIN): L15491WB1962PLC031425 Email: investor.relations@tataconsumer.com Website: www.tataconsumer.com

Investor Presentation

For the quarter ended December 2022

2nd February 2023

Disclaimer

Certain statements made in this presentation relating to the Company’s objectives, projections, outlook, expectations, estimates, among others may constitute ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results may differ from such expectations, projections etc., whether express or implied. These forward-looking statements are based on various assumptions, expectations and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, change in input costs, ability to maintain and manage key customer relationships and supply chain sources, new or changed priorities of trade, significant changes in political stability in India and globally, government regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate fluctuations, litigation among others over which the Company does not have any direct control. These factors may affect our ability to successfully implement our business strategy. The company cannot, therefore, guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events.

Agenda

Executive summary

Performance overview

Progress against strategic priorities

Macro environment

Business performance – India

Business performance – International

Financial performance

Concluding remarks

Other

We are Tata Consumer Products

In a nutshell

Integrated F&B company with rich heritage of Tata, aspiring for a larger share of the FMCG World

#2 branded tea player globally

₹ 12.4K crore consolidated revenue in FY22 with current market cap of ~₹71k* Cr

Reach north of 200mn households in India and distribute to ~3.5mm retail outlets

Largest salt brand in India

2nd Largest tea brand in India

4th largest tea brand in UK & largest tea brand in Canada

4th largest R&G coffee brand in USA

National brand in pulses, spices and mixes

#1 natural mineral water brand in India

Among the top 10 FMCG companies in India

~3000 employees worldwide

* As of 31st Dec 2022

Executive Summary

 During the quarter, Consolidated Revenue grew 8% YoY, bringing the YTD growth to 10%. On a 3-year CAGR basis, this translates to ~12%

revenue growth.

 Consolidated EBITDA for the quarter declined 2% YoY, bringing YTD growth to 5%. On a 3-year CAGR basis, the consolidated EBITDA grew

12%.

 During the quarter, India business1 grew 8% driven by

o India Beverages2 business decline of 5%, with a 5% volume decline, on a 3-year CAGR basis, the business grew revenues at 12% p.a. o India Foods3 business growth of 29%, with 4% volume growth, on a 3-year CAGR basis, the business grew revenues at 21% p.a.



International business revenue was up 4% during the quarter, bringing YTD revenue growth to 7%. 4

 EBITDA for the India business grew 13% YoY however inflationary pressures, currency weakness, and lag in pricing in the International business

dragged down the Consolidated EBITDA. Margins in the International business improved QoQ.

 Continued stress in rural & delayed winter, in some of our salient markets led to market share softness in tea. We continued to gain market share in

salt.

 Growth businesses continued their strong trajectory, growing 53% YoY during the quarter – these now account for 13% of our India branded

business.

1 Includes India beverages & India Foods business, including NourishCo. 2 Including NourishCo revenue, but volume doesn’t include Nourishco volumes 3 Including Tata Soulfull, Tata Q revenues. Volume doesn’t include Soulfull/Tata Q volumes 4 Q3FY23 constant currency growth of 2%, 9MFY23 constant currency growth of 5%.

Key Businesses Snapshot – Q3FY23

In ₹ Cr (unless specified)

Revenue

Revenue growth

Constant currency growth

India Beverages

1,218

-5%

India Foods

947

29%

Volume growth

-5%

US Coffee

International Tea

Tata Coffee (incl. Vietnam)

Consolidated

380

11%

-17%

549

-1%

364

28%

25%

-9%

3,475

Key Brands

Notes:

a) India Beverages revenue includes India Packaged Beverages + NourishCo (subsidiary effective May’2020), but volume doesn’t include NourishCo volumes

b) India Foods revenue includes Tata Soulfull (subsidiary effective Feb’21) and Tata Q (subsidiary effective Nov’21)

c) International tea business includes UK, Canada, USA, Australia, Europe and Middle East (Middle East has been regrouped from India Beverages in FY21 to International tea from FY22)

d) Tata Coffee incl. Vietnam and excl. USCoffee (EOC)

e) Consolidated revenue includes other non-branded business and Inter-segment eliminations

Key Businesses Snapshot – 9MFY23

In ₹ Cr (unless specified)

Revenue

Revenue growth

Constant currency growth

India Beverages

3,765

-1%

India Foods

2,706

26%

Volume growth

-2%

US Coffee

International Tea

Tata Coffee (incl. Vietnam)

Consolidated

1,112

1,493

1,008

10,164

18%

10%

-7%

-1%

-2%

31%

29%

-1%

10%

Key Brands

Notes:

a) India Beverages revenue includes India Packaged Beverages + NourishCo (subsidiary effective May’2020), but volume doesn’t include NourishCo volumes

b) India Foods revenue includes Tata Soulfull (subsidiary effective Feb’21) and Tata Q (subsidiary effective Nov’21)

c) International tea business includes UK, Canada, USA, Australia, Europe and Middle East (Middle East has been regrouped from India Beverages in FY21 to International tea from FY22)

d) Tata Coffee incl. Vietnam and excl. USCoffee (EOC)

e) Consolidated revenue includes other non-branded business and Inter-segment eliminations

Summary of Group Performance – Q3FY23

₹ 3,475 Cr.

₹ 458 Cr.

₹ 404 Cr.

₹ 364 Cr.

₹ 284 Cr.

~₹ 2,099 Cr.

Revenue

EBITDA

PBT (bei)^

Group Net Profit

Group Net Profit (bei)^

Net Cash$

Growth (YoY)

8% [7%]

-2%

Margin

13.2%

11.6%

26%

10.5%

-5%

8.2%

Margin expansion (YoY)

-140 bps

-90 bps

+150 bps

-120 bps

EPS

EPS growth (YoY)

[ ] Constant currency growth.

^ before exceptional items.

3.79

32%1

$ Cash and cash equivalents (net of total borrowings) as of December 31, 2022.

1 Group Net Profit and EPS growth rates differ owing to acquisition of residual minority stake in Tata Consumer Products UK Group Limited from Tata Enterprises (Overseas) AG (TEO) thereby making it a wholly owned subsidiary. Please refer to note 3 in the financials for the exact details.

Summary of Group Performance – 9MFY23

₹ 10,164 Cr.

₹ 1,356 Cr.

₹ 1,178 Cr.

₹ 1,031 Cr.

₹ 882 Cr.

~₹ 2,099 Cr.

Revenue

EBITDA

PBT (bei)^

Group Net Profit

Group Net Profit (bei)^

Net Cash$

Growth (YoY)

10% [9%]

Margin

13.3%

11.6%

33%

10.1%

10%

8.7%

Margin expansion (YoY)

-60 bps

-40 bps

+170 bps

+0 bps

EPS

EPS growth (YoY)

[ ] Constant currency growth.

^ before exceptional items.

10.12

30%1

$ Cash and cash equivalents (net of total borrowings) as of December 31, 2022.

Strategic Priorities

The picture can't be displayed.

Strengthen & accelerate core business

Drive Digital & Innovation

Unlock synergies

Create Future Ready Org

Explore new opportunities

Embed sustainability

Making consistent progress on reach

Sub-distributors

Distributors

Ecommerce

Modern Trade

8.8% of Sales

Revenue

NPD contribution

14.8% of Sales

Revenue

All numbers above are for Q3FY23, and growth is for Q3FY23 vs Q3FY22

New SKUs on shelf in Q3FY23

Packaged Beverages – continued focus on execution

Tata Tea Chakra Gold celebrated Deepavali in TN with the launch of a limited-edition festive pack paying an ode to the festival of lights.

Tata Coffee Grand Premium, a 100% coffee blend with flavor-locked decoction crystals was launched to cater to non-south region consumer tastes and preferences. This was supported by a unique ASMR campaign.

Tata Tea Agni Masterbrand architecture consolidation completed

Launched Tetley Green Tea Immune Tulsi. This new launch has the goodness of antioxidants with added Vitamin C, now in the flavor of Tulsi.

Market share – Tea

Volume -46 bps1 Value -113 bps1

1 Source: Nielsen –MAT basis, Dec22 vs Dec’21

India Foods – portfolio approach to salt and focus on Sampann

Functional campaign launched for Tata Salt Immuno to create awareness about the benefits of zinc fortification. Zinc is known to support a healthy immune system.

Shuddh by Tata Salt was re-launched with a renewed marketing mix establishing product superiority over key competition, with a South first aspirational pack to unlock gains in the mid-tier salt segment.

Market share

Salt 90bps1

Tata Salt’s #HarSawaalUthega campaign is an attempt to amplify the sound of India’s youth by encouraging them to ask the right questions for a better India

Tata Sampann Spices’ foray into Karnataka expanded its total addressable market and this was supported by an ad campaign featuring superstar Priyamani.

1 Source: Nielsen –Value Share, MAT basis, Dec’22 vs Dec’21

Continuing the momentum on innovation (1/2)

Tata Tea Premium Street Chai Range Unique range recreating the taste of popular street chais (teas)

Tata Coffee Café Specials Upgrading the in-home coffee consumption experience to a café style hot coffee

Tata Fruski Juice Jelly Launched a disruptive format of drinkable jelly in three delicious home-grown flavors

Tata Sampann Chef Style Masala Launch of tastemakers in three variants

Continuing the momentum on innovation (2/2)

Range of RTE & RTC developed for specific International markets

Tata Raasa

Tata Soulfull Ragi Bites Fills Enhanced cream version of our popular Ragi Bites in three variants

Tata Sampann range of South Spices Flavorful spices made the authentic way catering to regional consumers

Tata Salt Rock Salt and Pink Salt Launch of premium and popular variants of rock salt with natural minerals

Tata Salt+ Vitamin Shakti Tata Salt fortified with Vitamin D + Calcium

Creating a strong foundation to fuel future innovation

We have revamped our R&D facilities with state-of-the-art

infrastructure to accelerate the pace of innovation and to

future-proof and embed innovation across the organization

– Vikas Gupta, Global Head, R&D

Bengaluru World class ‘R&D Centre of Excellence’

Sri City Process Excellence Centre

Mumbai R&D Foods Innocentre

Momentum continues in the new Engines of Growth

Growth Businesses as a % of India Branded Business

13%

10%

Combined YoY revenue growth Q3FY23

FY20

FY21

FY22

Q3FY22 Q3FY23

The rapid scale-up of our growth businesses has seen them consistently increase their contribution to TCP’s revenue

Growth businesses include Tata Sampann, NourishCo, Tata Soulfull, and the RTE/RTC business (Tata Smartfooz). Tata Soulfull & Tata SmartFoodZ became subsidiaries effective Feb’21 & Nov’21, respectively.

Striving towards a sustainable future

Tata Consumer received the Gold Award in

Food loss management: We have

The Damdim Packaging Centre received the

Category 2 – Climate Change of

ICAI

partnered

with Wastelink

and

First Prize in the Consumer Goods category

International

Sustainability

Reporting

together

collected

and

recycled

the National Energy Conservation

Awards 2021-22.

1,592 MT of waste into animal feed.

Awards 2022 (NECA 2022).

For the love of Products, Planet, and People #ForBetter

Through its first Sustainability Report, Tetley takes you on a journey

The first-ever impact report of teapigs explores Teapigs’ journey to

through its business from tea bush to final sip Read the report here.

becoming a B-Corp, sourcing & carbon footprint, etc. Read the report

here.

Key Commodities’ movement

Tea

Coffee

N. India Tea (INR/kg)

S. India Tea (INR/kg)

Kenya Tea ($c/kg)

Arabica Coffee ($c/lbs)

246

233

229

224

234

225

Robusta Coffee ($c/lbs) 236

223

222

215

180

191

188

186

194

189

153

158

145

122

1 2 3 Q

1 2 4 Q

2 2 1 Q

100

101

2 2 2 Q

2 2 3 Q

212

195

149

115

2 2 4 Q

101

3 2 1 Q

104

3 2 2 Q

177

117

3 2 3 Q

128

115

1 2 3 Q

1 2 4 Q

147

2 2 1 Q

177

2 2 2 Q

105

103

2 2 3 Q

2 2 4 Q

3 2 1 Q

3 2 2 Q

177

3 2 3 Q

• North India tea prices continued to come off sequentially as we

moved to the end of the plucking season.

• South India tea on the other hand, saw an uptick coming in higher

sequentially as well as YoY.

• Arabica prices saw a sharp correction during the quarter and were significantly lower YoY owing to favorable weather in Brazil and rising global stocks.

• Robusta followed a similar trend, down sequentially as well as a

• Kenyan tea saw a slight increase from the previous quarter but was

YoY.

flat YoY in $ terms.

Source: North India and South India tea auction (Tea Board of India) Mombasa tea auction (EATTA) | International Coffee Exchange

Market context – category growth rates

+10.4%

+11.1%

Canada

India

+8.0%

10.5%

+5.2%

+5.6%

3.0%

• US markets saw category growth in Coffee

(both Bags and K-cups) and Tea on account of price increases. In volume terms, the category saw a decline.

• UK – The tea category in both regular and

F&H saw growth led by pricing.

2.4%

• Canada – Both regular black tea and

specialty tea grew, led by pricing. In volume terms, the category saw a decline.

•

India branded tea category continued to see muted growth, lower than its long-term trend rate.

-9.7% -0.8% +4.5%

-5.1%

-1.2%

-7.5%

-2.5%

+10.1%

US Regular Black Tea

US Bags Coffee

US K-cup Coffee

UK Regular Black Tea

UK Fruit & Herbals Tea

Canada Regular Black Tea

India Branded Tea

Canada Speciality Tea

Source: Nielsen: 12 weeks (Value) – Dec ’22

Base period growth rates

India Packaged Beverages

Performance commentary

-9%

Revenue Growth

• Revenue for the quarter declined 9% led by pricing corrections and volume decline, owing to demand slowdown in some of our key markets.

• Coffee revenue grew 34% YTD.

• On a 3-year CAGR basis, the

business delivered 9% revenue growth.

In line with our hyperlocal strategy, Tata Tea Lal Ghoda was restaged including new pack graphics as well as a new TVC celebrating the unique taste of Rajasthani hospitality and the warmth of relationships.

-5% Volume Growth1

-113bps Market Share gain2

Tata Tea Agni Leaf celebrated the festival of Chatt with the launch of four special packs commemorating each day of the festival and was backed by a 360- degree impactful campaign in Bihar & Jharkhand.

Other updates

• Tata Tea Gold Care, Chakra Gold

• Tata Tea Premium TeaVeda

Care and Tata Tea Gold Darjeeling continue to perform in line with our premiumization agenda.

continues to accelerate its growth trajectory with growth increasing sequentially.

1 Tea volume growth 2 Source: Nielsen – Value share, Moving Annual Total (MAT) basis Dec’22 vs Dec’21

27 27

India Foods

Performance commentary

Continuing to drive momentum for Tata Sampann Dry Fruits with special assorted festive packs

+29%

Revenue Growth

• Salt revenue grew 27% during the quarter YoY. The 3-year revenue CAGR for salt stood at 19% in Q3FY23.

• Tata Sampann portfolio delivered strong growth of 37%, with broad- based performance across staples and dry fruits.

• Rock salt continued its strong

• Tata Soulfull continued its strong

trajectory with revenue growth of 97% during the quarter.

growth trajectory.

Tata Sampann creates large packs for pantry staples exclusively for the e-commerce channel.

+4%

Volume Growth

+90bps Market share gain1

Other updates • Driving premiumization in Tata Salt with 1) Vitamin Shakti fortified with Vitamin D & Calcium 2) Pink Salt to accelerate upgradation from base iodized salt.

• Momentum continues on South spices backed by media support for South Pures and the launch of blends in Karnataka.

• Tata Salt Immuno saw a good initial response to its rollout in Punjab, Haryana, and HP.

• Soulfull Masala Oats+ tracking ahead of target metrics post its launch.

1 Source: Nielsen – Value share, Moving Annual Total (MAT) basis Dec’22 vs Dec’21

28 28

NourishCo (100% Subsidiary)

Performance commentary

119Cr

Revenue

• Delivered yet another strong quarter with a robust revenue growth of 66% YoY.

• Operating leverage and continued cost-saving initiatives across the P&L helped drive margin improvement over the previous year.

Launched a disruptive format of drinkable jelly in select markets

• NourishCo achieved yet another milestone with its revenue for 9MFY23 crossing Rs 400 cr.

Himalayan Spreads and Honey roped in celebrities and top chefs for an influencer-led campaign

+66%

Revenue growth

2.1x Tata Copper+#

Other updates • GTM expansion and capacity expansion initiatives continue.

• The business now reaches nearly

600k outlets.

#113% revenue growth YoY

29 29

Tata Coffee (inc Vietnam ex EOC) (~58% Subsidiary)

Performance commentary

+25%#

Revenue Growth

• Revenue for the quarter grew 25%#

led by strong growth in the extractions business. The plantations business saw lower volumes of coffee & pepper.

Extractions

• Overall extractions business grew by 33% driven by both the domestic and the Vietnam business.

• Vietnam sales grew 33% in constant

currency terms (46% reported).

TCPL proposed a merger with Tata Coffee Limited (TCL) in March 2022 with the objective of unlocking synergies and creating a simpler organizational structure. TCPL shareholders approved the merger on 12th November 2022.

The process of obtaining TCL shareholders’ approval along with other regulatory steps (including requisite NCLT approvals) is underway.

-14%

Plantations Revenue Growth

+33%

Extractions Revenue Growth

Other updates

• Theni Instant Coffee plant now uses

100% renewable energy.

# Tata Coffee including Vietnam in constant currency terms. Does not include EOC

30 30

Tata Starbucks (JV)

Launched the first Starbucks Reserve store at its Flagship Mumbai location

Net new stores opened during the quarter*

311

Total stores

‘

Cities present

• Tier-2 expansion continues

with store launches in Vijaywada and Lonavala.

Celebrating Coffee – Launched Christmas and Diwali special blends

Performance commentary • Revenue for the quarter grew 42% YoY, led by a revival in out-of-home consumption and strong store addition.

• Opened 15 new stores during

the quarter* and entered 2 new cities.

• The business continued to

remain EBIT-positive for the quarter.

• Opened a total of 47 new

stores (gross) and entered 12 new cities in 9MFY23.

Other updates • The ‘My Starbucks Rewards’ loyalty program crossed 2 million customers.

• Tata Starbucks now has 20 'All

Women Stores’. Women representation at Tata Starbucks is 38.4%.

* Opened 15 stores; closed 4

Performance commentary

+1%

Revenue Growth#

• Revenue for the quarter grew 1% (constant currency), reversing the decline seen in the previous quarter.

• Tetley held share in everyday black

segment.*

• Teapigs declined, with growth in offline channels being more than offset by post-COVID decline in the online channel.

•

Inflation and GBP depreciation vs USD (tea costs are in USD) impacted profitability during the quarter. Some of this will be mitigated through pricing. Price hikes have been announced across all brands.

text

A clear strategy to grow our franchise by way of new and pertinent offerings

Encouraging trials with first box of tea free on our website while encouraging customers to purchase in store

Morrisons, the UK’s fifth largest supermarket chain listed several new Tetley SKUs.

19.2%

Value Market share* (in everyday black)

Other updates • Morrisons, the UK’s fifth largest supermarket chain listed 12 new Tetley lines across 230 stores.

# Constant currency including teapigs ^ Constant currency * Source: Nielsen – Value share, Moving Annual Total (MAT) basis – Dec’22

USA

Tetley & EOC hosted events to engage with shoppers on our flagship British Blend and innovative Barista Blends range

Tata Raasa launched in the US during the quarter within select Ethnic channels.

+1%

Coffee Revenue Growth^

Performance commentary

• Coffee: Revenue for the quarter

grew 1% (constant currency) driven by pricing. The 3-year revenue CAGR for coffee stood at 9%.

• EOC K Cups grew 2x the category during the quarter, led by focused execution.

• Tea: Revenue declined 8% (constant currency) led by a decline in Tetley Black Iced tea.

• Teapigs continues to be the fastest- growing brand in Specialty tea, growing 4X the category during the quarter.

-8%

Tea Revenue Growth^

• While the margin has come down

YoY due to the escalation in coffee costs, the new pack/price initiatives have helped improve profitability sequentially.

Other updates

• Tata Raasa RTE range launched within select Ethnic grocery stores during the quarter.

4.3%

*Coffee Bags Market Share

^ Constant Currency Source: *Nielsen – Value share, Moving Annual Total (MAT) basis – Dec’22

Canada

Rolled out Tata Sampann and Tata Tea digital video ads on popular South Asian websites during Diwali to drive awareness & trial.

Showcased Tata Tea and Tata Sampann to retail customers at Canadian Grocery Innovation Show.

Performance commentary

+5%

Revenue Growth^

• Revenue for the quarter grew 5% (constant currency). The 3-year revenue CAGR for the quarter stood at 12%.

• Tetley outperformed both regular tea and specialty tea segments during the quarter.

• We gained significant volume and value share during the quarter.

+1%

Revenue growth in Specialty tea^

Tetley kicked off an integrated campaign featuring the tagline “Live in The Moment” to support the launch of Tetley Live Teas. The communication includes digital/TV, in-store, social and sampling.

27.7%

*Value Market share in overall tea

Other updates • Tetley celebrated its 21st year of

support for breast cancer research by launching a limited- edition Anniversary Pink Pack design to raise funds for the cause.

• Tetley continues to support

vitamin-fortified Super Teas with social media content and sampling activities including roadshows and direct-to- consumer sampling.

^ Constant Currency Source: *Nielsen – Value share, Moving Annual Total (MAT) basis – Dec’22

3535

Performance Highlights – Q3FY23

Standalone

(in ₹ Cr)

Consolidated

(in ₹ Cr)

m o r f

e u n e v e R

s n o i t a r e p o

A D T B E

2,030

2,153

123

+6%

3,208

266

3,475

+8%

[7%]

Consolidated revenue at Rs 3,475 cr

•

India business +8%

International business +2% (constant currency)

• Non-branded business +22% (constant currency)

EBITDA at Rs 458 cr (-2% YoY) and EBITDA

margin at 13.2% (-1.4% over PY)

Q3FY22

Growth

Q3FY23

Q3FY22

Growth

Q3FY23

•

India business EBITDA +13%; led by optimization

281

328

+17%

468

-9

458

-2%

[-4%]

of other expenses even as gross margin remained

stable v/s PY.

•

International Business EBITDA -34%, owing to

input cost inflation, currency weakness, and lag in

pricing.

• Non-branded business EBITDA +14%,

led by

revenue growth and partly offset by input cost

Q3FY22

Growth

Q3FY23

Q3FY22

Growth

Q3FY23

inflation.

[ ] constant currency growth

37 37

Financials: Consolidated

Quarter ended Dec’22

Q3FY23

Q3FY22

Change %

Profit and Loss statement

(all nos. in ₹ Crores)

Year to date Dec’22

9MFY23

9MFY22

Change %

3,475

458

13.2 %

383

11.0 %

404

(113)

369

10.6%

364

3,208

468

14 6%

398

12.4%

401

(13)

(100)

288

9.0%

290

8 % Revenue from operations

-2 % EBITDA

-4 % EBIT

1 % PBT before exceptional items

Exceptional items

Tax

28 % PAT

26 % Group Net Profit (incl. JVs & Associates)

Group Consolidated Net Profits for the quarter grew 26% YoY on account of following: • • •

Revenue growth in both Branded and Non-branded business. Partly offset by margin decline due to inflation and GBP weakness for UK tea business Higher exceptional income on account of conversion of Joekels JV in South Africa into a subsidiary.

10,164

1,356

13.3 %

1,134

11.2 %

1,178

166

(343)

1,001

9.8 %

1,031

9,250

1,291

14.0 %

1,085

11.7 %

1,105

(33)

(282)

790

8.5 %

776

10 %

5 %

7 %

27 %

33 %

Financials: Standalone

Quarter ended Dec’22

Q3FY23

Q3FY22

Change %

Profit and Loss statement

(all nos. in ₹ Crores)

Year to date Dec’22

9MFY23

9MFY22

Change %

2,153

328

2,030

281

6 % Revenue from operations

17 % EBITDA

15.2 %

13.8 %

292

245

19 % EBIT

13.5 %

12.1 %

328

(8)

(82)

237

261

(9)

(65)

187

25 % PBT before exceptional items

Exceptional items

Tax

27 % PAT

11.0 %

9.2 %

Profit after tax on a standalone basis for the quarter grew by 27% on account of the following: • •

Revenue growth and margin improvement in India Branded business Margin improvement was driven by India Foods.

6,361

971

5,984

823

15.3 %

13.8 %

863

717

13.6 %

12.0 %

963

(26)

(237)

700

895

(17)

(199)

680

11.0 %

11.4 %

6 %

18 %

20 %

8 %

3 %

Segment-wise Performance Q3FY23

Particulars

Segment Revenue

Segment Results

₹ Cr

Q3 FY23 Q3 FY22

Change

Q3 FY23 Q3 FY22

Change

India Business

2,165

2,010

International Business

930

897

Total Branded Business

3,095

2,907

Non Branded Business

Others / Unallocated items

391

(12)

312

(11)

25%

300

389

Total

3,475

3,208

482

263

14%

144

(39)%

407

(4)%

17%

(43)

388

24%

Revenue – Branded business

70% India Business

30% International Business

Segment results – Branded business

77% India Business

23% International Business

40 40

Segment-wise Performance 9MFY23

Particulars

Segment Revenue

Segment Results

₹ Cr

9M FY23

9M FY22

Change

9M FY23

9M FY22

Change

Revenue – Branded business

India Business

6,470

5,960

International Business

2,605

2,445

Total Branded Business

9,076

8,405

Non Branded Business

1,115

Others / Unallocated items

(26)

870

(25)

28%

881

253

754

17%

350

(28)%

1,134

1,104

71% India Business

29% International Business

113

52%

(96)

Segment results – Branded business

Total

10,164

9,250

10%

1,343

1,071

25%

78% India Business

22% International Business

41 41

To conclude

Macros  Demand impacted by sluggishness in rural and semi-urban markets and a delayed winter in some of our salient markets for tea, however, we

continue to remain focused on execution.

 The impact of inflation and monetary tightening on the economies & currencies of our key International markets remains a key monitorable going

forward.

Business

 We have been able to deliver double-digit growth while balancing margins in an extremely challenging global macro environment this fiscal.

 While the tea business in India was subdued due to demand headwinds in our key markets, we have put measures in place to address some of the

challenges.

 Despite the steep price increase taken to mitigate input cost inflation, we have continued to gain market share in salt, driven by in-market execution.

The margin in the business has improved sequentially.

 Our growth businesses have sustained their strong growth trajectory and have increased their salience significantly over the last couple of years.

 Our Out of Home businesses i.e. both NourishCo & Starbucks have delivered yet another strong quarter and we will continue to drive these further.



In the international business, input cost inflation and adverse currency movement have impacted margins; we have taken further pricing and the

margins have improved sequentially vs Q2FY23; we will be looking at structural cost-saving actions going forward.

 Despite the inflationary environment and investments required for some of the new businesses, consolidated EBITDA margin has expanded QoQ.

Going forward we will continue to stay focused on driving growth, market share, and margins.

4343

Quarter Ended June’20

Q&A

Shareholding information

Quarter Ended June’20

Stock data

BSE Ticker

NSE Ticker

500800

TATACONSUM

Market Capitalization (Dec 31, 2022)

₹ 712.7 bn

Number of Shares Outstanding

929.0 Mn

Pattern as on 31st December, 2022

Others 6%

Individual 20%

MFs/ UTI/ AIFs 6%

Insurance Companies/ Banks 8%

Promoter and promoter Group 34%

Foreign Institutional Investors 26%

Thank You

For more information Institutional investors – Contact Nidhi Verma Head – Investor Relations & Corporate Communication nidhi.verma@tataconsumer.com

Kaiwan Olia Manager – Investor Relations Kaiwan.olia@tataconsumer.com

Retail investors - Contact investor.relations@tataconsumer.com

For media queries nidhi.verma@tataconsumer.com satya.muniasamy@tataconsumer.com

Call us at +91-22-61218400

Last 10-year financials are available on Historical financial data

tataconsumer.com

TataConsumer

tata-consumer-products/

tataconsumerproducts/

Feb 2nd, 2023

Results for the Quarter ended 31st December 2022

Consolidated Results:

Revenue from Operations for the quarter at Rs 3,475 Crs up 8%. For nine months ended, Revenue at Rs 10,164 Crs up10%

Consolidated EBITDA for the quarter at Rs 458 Crs declined by 2% and for nine months ended EBITDA at Rs 1,356 Crs grew by 5%

Group Net Profit for the quarter at Rs 364 Crs grew by 26% Group Net Profit for nine months at Rs 1031 Crs grew by 33%

Tata Consumer Products Ltd. today announced its results for the quarter ended 31st December 2022.

For the quarter, Revenue from operations increased by 8% as compared to corresponding quarter of the previous year, mainly driven by underlying growth of 8% in India Business, 2% in International Business and 22% in Non-Branded Business. Profit before tax at Rs 482 Crores is 25% higher as compared to corresponding quarter of the previous year reflecting strong growth in the domestic business partly offset by lower profits in the international business due to inflationary pressures and weakness in currency. After considering exceptional items, Group Consolidated Net Profit at Rs 364 Crores is higher by 26%

Some of the key Business updates are:

India

• For the quarter, the India Packaged Beverages business recorded 9% revenue decline led by pricing corrections and demand slowdown and late onset of winter in our key markets of North and East. We are seeing demand recovery now.

• Coffee continued its strong performance with a revenue growth of 34% YTD.

• We continued the momentum on innovation with the launch of Tata Coffee Grand Premium- 100% coffee blend with flavour locked decoction crystals, Tetley Green

Kirloskar Business Park, 3rd & 4th Floor, Hebbal, Bangalore – 560 024 Tel: 91-80-6717 1200 | Fax: 91-80-6717 1201 Registered Office: 1, Bishop Lefroy Road, Kolkata – 700 020 Corporate Identity Number (CIN): L15491WB1962PLC031425 Email: investor.relations@tataconsumer.com Website: www.tataconsumer.com

Tea Immune Tulsi- a blend which has the goodness of antioxidants with added vitamin C and the flavour of Tulsi, Tata Tea Premium Street Chai range- a unique range recreating the taste of popular street chais, Tata Coffee café specials- upgrading the in-home coffee consumption experience to a café style hot coffee.

•

In line with our premiumization agenda, Tata Tea Gold Care, Chakra Gold Care, and Tata Tea Gold Darjeeling continued to see strong traction.

• Taking our hyperlocal strategy forward, Tata Tea Lal Ghoda was restaged with new pack graphics and a TVC celebrating the unique taste of Rajasthani hospitality and the warmth of relationships. Tata Tea Chakra Gold launched a limited edition festive pack in Tamil Nadu for Diwali and Tata Tea Agni Leaf celebrated the festival of Chatt with the launch of four special packs commemorating each day of the festival backed by an impactful 360 degree campaign in Bihar and Jharkhand.

• For the quarter, the India Foods business registered 29% revenue growth and 4%

volume growth.

• The salt portfolio continued its momentum and recorded double-digit revenue growth during the quarter. The salt portfolio also continued to record market share gains.

• We are building a robust portfolio of value-added salt variants to strengthen our play and expand our market, in addition to driving premiumization. Some of our recent launches include- 1) Tata Salt Vitamin Shakti fortified with vitamin D & calcium and 2) Pink Salt, to accelerate upgradation from base iodized salt. During the quarter, we launched a functional campaign to create awareness about the benefits of zinc fortification in Tata Salt Immuno. We also relaunched Shudh by Tata Salt with a renewed marketing mix establishing product superiority to unlock gains in the mid tier salt segment.

•

In keeping with its core theme ‘Desh Ki Sehat, Desh Ka Namak,’ the Tata Salt Masterbrand launched a new campaign #HarSawaalUthega to empower children by providing them with a one-of-a-kind platform to raise questions that could spark relevant conversations and nudge a societal change.

• The Tata Sampann portfolio recorded strong double-digit growth led by broad based performance across staples and dry fruits. We continued to see momentum in dry fruits with the launch of special assorted festival packs, and in the spices range with South pure spices and the launch of blended spices in Karnataka.

• Tata Soulfull continued its strong growth trajectory during the quarter. It launched

an enhanced cream version of its popular ragi bites in three variants.

• NourishCo sustained strong momentum during the quarter with a 66% revenue growth led by broad based performance across products and geographies. The business launched Tata Fruski Juice n Jelly, a disruptive format of drinkable jelly in select markets. Inspired by local Indian flavours, it is available in three exciting flavours- Kala Khatta, Mixed Fruit Chaat and Lemon Pudina.

• We strengthened our innovation capabilities by upgrading our R&D facilities to accelerate the pace of innovation and build future readiness. We now have 3 centres in India- R&D centre of excellence in Bengaluru, Process Excellence Centre in Sri City, Andhra Pradesh and a Foods Innocentre in Mumbai.

• We continued to make consistent progress in our Sales & Distribution reach. We have increased direct distributor coverage in semi-urban areas and split routes in larger towns to drive assortment and increase focus on growth drivers.

• Alternate channels continue to fuel our growth and innovation agenda. Modern Trade channel grew 17%, contributing to 14.8% of India business sales. The E- commerce channel grew 34%, contributing to 8.2% of India business sales. Approximately 11% of E-commerce revenue came from NPD (New Product Development) during the quarter.

International

• For the quarter, the International Beverages business revenue grew 4%

•

In the UK, we are focusing on premiumizing black tea, and expanding into new segments in non black tea category and have put in place a clear strategy to grow our business.

In the USA, we launched Tata Raasa (a Ready to Eat and Ready to Cook range developed specifically for international markets), within select ethnic channels during the quarter.

In the branded coffee segment, Eight O’ Clock (EOC) coffee continued to hold share with K cups growing ahead of the category.

• Teapigs continued to be the fastest-growing brand in specialty tea in the USA.

•

In Canada, Tetley kicked off an integrated campaign ‘Live in the Moment’ to support the earlier launch of Tetley Live teas- a range of non-black specialty teas.

• Additionally, Tata Sampann and Tata Tea were promoted through digital video ads on popular South Asian websites in Canada to help drive awareness & trial among the Indian diaspora.

Tata Starbucks

• Tata Starbucks recorded strong revenue growth of 42% for the quarter, led by a

revival in out of home consumption and strong store addition.

• Launched the first Starbucks Reserve store in India at its Flagship Mumbai

location.

• Launched special festive blends for Diwali and Christmas.

• Opened 11 new stores during Q3, and entered 2 new cities. This brought the total

number of stores to 311 across 38 cities.

Sustainability Update

• Tata Consumer Products received the Gold Award in Category 2- Climate Change

of ICAI International Sustainability Reporting Awards 2021-22.

• Food loss management- We partnered with Wastelink and together collected and

recycled 1592 MT of waste into animal feed.

• The Damdim Tea Packaging centre received the First prize in the Consumer

Goods category at the National Energy Conservation Awards 2022.

• Tetley in UK published its first Sustainability report taking readers on a journey

through its business from tea bush to final sip. Read the report here.

• Teapigs published its first ever Impact report on its journey to becoming a B-Corp

, its sourcing and carbon footprint. Read the report here.

Sunil D’Souza, Managing Director & CEO of Tata Consumer Products said

“We delivered strong earnings growth this quarter while balancing revenue growth and margins in an extremely challenging macroeconomic environment.

While the branded tea business in India has been impacted by demand headwinds in some of our key markets, we are putting in place measures to address some of these challenges. In our other core business of salt, we have continued to gain market share despite pricing actions taken to mitigate input cost inflation. We continued to maintain momentum on innovation with a number of new launches across our Beverages and

Foods categories. Our new engines of growth- Tata Sampann, Tata Soulfull and NourishCo have continued their strong growth trajectory and collectively account for 13% of our India business now. Tata Starbucks has delivered yet another strong quarter with the addition of 47 stores across 12 cities so far this fiscal.

Our transformation journey to becoming a leading FMCG company is progressing well. We continue to expand & strengthen our reach in GT and E-commerce and modern trade channels continue to fuel our growth and innovation agenda. We have enhanced our R&D capability and infrastructure to better support our innovation agenda across categories. Going forward, we will continue to stay focused on driving consistent and profitable growth for the business.”

About Tata Consumer Products Limited

Tata Consumer Products Limited is a focused consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella. The Company’s portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals. Tata Consumer Products is the 2nd largest branded tea company in the world. Its key beverage brands include Tata Tea, Tetley, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water and Tata Gluco Plus. Its foods portfolio includes brands such as Tata Salt, Tata Sampann and Tata Soulfull. In India, Tata Consumer Products has a reach of over 201 million households, giving it an unparalleled ability to leverage the Tata brand in consumer products. The Company has a consolidated annual turnover of ~Rs. 12,400 Crs with operations in India and International markets. Last 10-year financials are available on Historical financial data.

For more www.tataconsumer.com

information on

the Company, please

visit our website

Disclaimer: Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. Actual results may differ from such expectations, projections etc., whether express or implied. These forward-looking statements are based on various assumptions, expectations and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, change in input costs, ability to maintain and manage key customer relationships and supply chain sources, new or changed priorities of trade, significant changes in political stability in India and globally,

government regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate fluctuations, litigation among others over which the Company does not have any direct control. These factors may affect our ability to successfully implement our business strategy. The Company cannot, therefore, guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events.

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