Tata Consumer Products - Parallels Between Growth Journey - ‘Parachute’ And ‘Tata Salt’: ICICI Securities

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ICICI Securities Report

There are brands. There are great brands. ‘Parachute’ (coconut oil brand of Marico Ltd.), in our view, is one of them.

It’s a classic case of building (and sustaining) a brand and earnings brand margins in a (hitherto) commoditised category.

We believe that ‘Tata Salt’, a great brand (already), has the opportunity to build on awareness more than availability and find similarities in it’s journey vis-a-vis Parachute.

In this report, we present why we believe ‘Tata Salt’ could potentially reach more than 60% market share (versus ~34% now) and be the significant value-driver for Tata Consumer Products Ltd. stock.

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