Guidance ledger · Q4 FY26

Tata Consumer Products Ltd TATACONSUM

3 revisions on record · 0 lowered · 2 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↑ raised EBITDA margin expansion commitment Q2 FY26 → Q4 FY26

~~Q4 ~15% exit ballpark (Q2FY26 guide)~~ → FY27 +50 to 75 bps explicit floor

“50 to 75, 80 bps is a given. I mean it's not an option. We will deliver it”

↔ widened A&P-to-sales ratio Q1 FY26 → Q4 FY26

~~7.5% to 8% (Q1FY26 step-up plan)~~ → 7.5% to 8.5% (Q4FY26 widened band)

“directionally, we will be the 7.5% to 8.5% ratio as we go forward.”

↑ raised Sampann margin path Q3 FY26 → Q4 FY26

~~Hit double-digit (Q3FY26 trough exit)~~ → Mid-teens medium-term (Q4FY26 raised target)

“Sampann per se is, I would say, headed towards the mid -teens sort of margin.”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.