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Here you will find all the research and views that we post on Equitymaster. Use the tools to customize the results to suit your preference!


Kraft: Competition heating up?

Sep 10, 2009

Equitymaster gives its analysis and views on the possible scenarios of Kraft Foods acquiring Cadbury

FMCG majors: Not way behind!

Jun 6, 2007

Like the midcaps, though slower, the FMCG large caps continued to sustain robust growth momentum supported by the shift from the unorganised sector, increased realisations and acquisitions. The pressure from the rising input prices was visible leading to a fall in the margins. We give you a review of the performance of the majors like ITC, Dabur, Tata Tea and Britannia for the year.

FMCG: Shopping time!

Jan 10, 2007

The Rs 690 bn Indian FMCG sector was on an acquisition spree in 2006. As part of growth strategy, many FMCG companies clinched a string of major buy out deals in both domestic and international markets during the year. The companies have made acquisitions not only in the existing segments, but have scouted for acquisitions in newer categories. The FMCG companies have spread their wings across the globe last year.

Will FMCG move fast in FY06?

Jun 15, 2005

The results season is over with Tata Tea being the last one to come out with its numbers a few days back. We decided to take the top 5 FMCG companies under our coverage and compare its performance against that of last years. The five companies include HLL, ITC, Nestle, Britannia and Tata Tea.

Tata Tea: Checking out its blend!

Mar 21, 2005

A name associated with the Indian Tea industry for over 50 years, Tata Tea is today the world’s 2nd largest branded tea company with presence in over 35 countries across the globe and the country’s largest in value terms. The company has been in the limelight for sometime now because of its transition from a commodity led business to a dominantly branded one. We decided to take a closer look at the transformation and how the company has achieved major milestones over the years.

Tata Tea: The right blend

Oct 30, 2004

Tata Tea Limited has reported an encouraging 8% growth in consolidated revenues during the September quarter. The company's net profits are up over 55% led by improvement on the operating margin front, as well as higher other income owing to dividend received this quarter. The company's India operations continued to show a good turnaround reporting over 15% topline growth. Improved operating margins and buoyant other income saw profits growing by a significant 52% for the domestic business.

Tata Tea: Identifying its blend

Jul 13, 2004

Tea major, Tata Tea, is in the thick of news in recent times. The company reported strong FY04 results and there are reports that it is considering exiting the tea plantations altogether. Here we analyse the company's recent performance and its prospects.

FMCG: Temporary blip!

Dec 24, 2003

What a year! The Sensex has gained 57% from January till December 10, 2003, and the year is yet to come to a close. While most sectors either moved in tandem with the benchmark indices or outperformed them, the FMCG sector was one of the few that really got ‘left behind’ in relative terms.

FMCG: Fast moving...

Dec 17, 2003

Markets all over the world have been on a roll in 2003 and the Indian bourses are no exception having gained almost 60% in 2003. During this period, while there are sectors that have outperformed this benchmark index by substantial margins, there are also sectors that have not kept pace with the general market trend during the last one-year.

Britannia: Other income fillip…

Jul 29, 2003

Britannia Industries has reported just over 3% growth in 1QFY04 topline. The company has however finished the June quarter with a significant 53% net profit growth.

Tata Tea: Domestic woes continue…

Oct 29, 2002

Tata Tea's tryst with difficult market conditions continues. The beverage major reported a marginal 2.5% YoY rise in net sales during September quarter, that too aided by higher exports. Domestic sales was lower on account of the continued slowdown in the organized retail market for branded teas and lower CTC tea prices in auctions (which have fallen by around 20% since January this year).

Tata Tea: Dividend income saves day…

Jul 30, 2002

On first glance, Tata Tea Limited seems to have reported a much better performance in the first quarter of FY03, as compared to the dismal showing in 4QFY02. The company finished 1QFY03 with over 27% net profit growth during the June quarter. But in this, it was aided by Rs 78 m earned as dividend income (part of other income). Excluding this, on a like to like basis, Tata Tea would have finished 1QFY03 with a 24% drop in net profit.

Tata Tea: 4QFY02 hits annual numbers

Jun 27, 2002

Tata Tea's restructuring blues continue. The company has finished FY02 with a 7% drop in topline and a significant 28% decline in net profit. Tata Tea has finished the March quarter (4QFY02) with a similar 7% drop in sales and has posted Rs 163 m as net loss during the quarter.

HLL: 4Q extra charge dampens numbers

Jan 22, 2002

FMCG major, Hindustan Lever, has declared a 4.3% growth in topline during the fourth quarter and around 3.5% topline growth (Rs 109,719 m) for the whole year (FY02).

Tata Tea: Ad budget upsets applecart

Jan 21, 2002

Tata Tea's hiccups with restructuring continues. The company has declared a 2% drop in topline and a 17% drop in bottomline during the December quarter. The company's topline performance is however better than the 16% drop it witnessed during the preceding quarter (2QFY02).

Food: Riding on extraordinary effect

Nov 29, 2001

At first glance, the food processing sector seems to have done well in the September quarter despite the pressure companies faced on the topline growth. During the quarter, the top five companies in the sector reported a 6% rise in topline growth but managed to record a significant 22% growth in net profits (including extraordinary items).

Tata Tea: Strengthening operations

Oct 30, 2001

Tata Tea, one of the largest integrated producers of tea in the world, has declared an 18% decline in 2QFY02 topline and a 3% decline in net profits (excluding extraordinary income). However, if we include an extraordinary income of Rs 190 m received by way of dividends from subsidiaries, then 2QFY02 profits zoom 45% YoY.

Food sector: HLL trims growth

Aug 14, 2001

The Indian food and beverages sector reported a reasonable performance in the June quarter considering the difficult market conditions. In a sample that comprised Hindustan Lever, SmithKline Beecham, Nestle, Cadbury, Britannia and Tata Tea, the topline recorded a 4% growth but the sample bottomline surged by nearly 44%.

Tata Tea: An improving blend

Jul 27, 2001

Tata Tea Limited, one of the world's largest integrated tea companies has declared a significant 85% jump in its bottomline during 1QFY02. This growth is when we don't consider the extraordinary income accrued to the company in the first quarter of last year.

HLL: Beats expectations, but sales sluggish

Jul 24, 2001

Hindustan Lever Ltd. (HLL) has reported a net profit growth of 21% in its 2QFY02 to Rs 3,467 m. Net sales growth continue to be slack. Sales have grown by 1.8% during the quarter to Rs 29,313 m. Other income was up 18% to Rs 912 m.

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