ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ₹964 at the close on 23 Oct 2026, 12:00 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
44
out of 100
P/E
58.3x
forward 40.4x
1-year return
-17.0%
Dividend yield
1.04%
Tata Consumer Products Limited in four questions
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Overview
ACCE thesis
Tata Consumer Products makes Tata Tea, Tata Salt, Tata Sampann pulses and spices, Starbucks-branded coffee in India, and the Tata Soulfull and Tata Gluco Plus brands, with packaged staples sold through a large general-trade distribution network. The moat is brand strength and reach in everyday categories where repeat purchase is high, which gives the business pricing power and steady volumes through cycles. The near-term story is premiumisation and mix, with growth in branded salt, coffee and Ready-to-Drink beverages lifting gross margins from the 41.1% in the data toward a higher base as commodity input costs ease. Revenue is growing 11.9%, but the stock trades at 58.1x trailing and 40.2x forward earnings, so the investment case rests on margin expansion arriving on schedule to justify that multiple. Operating margin of 10.5% is the figure to pressure-test, since the gap between gross and operating margin is where any real earnings upside has to come from.
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
moderate
Rich valuation multiples
Trailing P/E of 58.1 and EV/EBITDA of 35.0 leave little room for earnings misses, though forward P/E of 40.2 is more reasonable. Price trades 6.3% above the ACCE price target of ₹907.00.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Revenue grew 11.9% year over year, and the five-year average annual growth rate is 13.8%.
Analysts' mean price target of INR 1311.96 sits 36.7% above the current share price.
Earnings per share beat expectations, coming in at 4.31 against 4.28 expected, a 0.7% surprise.
Why it could disappoint
At 58.1x trailing earnings, the stock is expensive even after the forward P/E falls to 40.2x.
The stock trades 6.3% above the ACCE price target of ₹907.00, so our valuation sees less upside.
A net margin of 7.8% leaves little cushion, and the dividend yield of 1.0% offers modest income.
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