Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Financial Results for the quarter and six months ended September 30, 2021
Rs. In Crores
|
Particulars |
Three months ended |
Year to date ended |
Year ended |
||||
|
September 30, 2021 |
June 30, |
September 30, 2020 |
September 30, 2021 |
September 30, 2020 |
March 31, |
|
|
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Audited |
|
|
|
Revenue from Operations |
3033.12 |
3008.46 |
2781.34 |
6041.58 |
5495.25 |
11602.03 |
|
|
Other Income |
39.62 |
28.01 |
26.22 |
67.63 |
58.93 |
121.38 |
|
|
Total Income |
3072.74 |
3036.47 |
2807.56 |
6109.21 |
5554.18 |
11723.41 |
|
|
Cost of Materials Consumed |
1232.02 |
1313.64 |
1208.11 |
2545.66 |
2221.96 |
4937.45 |
|
|
Purchase of stock in trade |
485.15 |
542.68 |
518.98 |
1027.83 |
1052.30 |
2114.40 |
|
|
Changes in inventories of finished goods, work in progress and stock in trade |
19.12 |
(73.91) |
(80.94) |
(54.79) |
(127.49) |
(149.54) |
|
|
Employee Benefits Expense |
255.64 |
265.41 |
229.73 |
521.05 |
458.78 |
970.23 |
|
|
Finance Costs |
19.78 |
20.43 |
17.87 |
40.21 |
35.15 |
68.69 |
|
|
Depreciation and Amortisation Expense |
69.31 |
66.79 |
62.57 |
136.10 |
124.47 |
254.74 |
|
|
Advertisement and Sales charges |
211.88 |
158.21 |
166.38 |
370.09 |
300.14 |
726.27 |
|
|
Other Expenses |
416.01 |
402.94 |
339.50 |
818.95 |
707.33 |
1459.46 |
|
|
Total Expenses |
2708.91 |
2696.19 |
2462.20 |
5405.10 |
4772.64 |
10381.70 |
|
|
Profit before Exceptional Items and Tax |
363.83 |
340.28 |
345.36 |
704.11 |
781.54 |
1341.71 |
|
|
Exceptional Items (Net) |
(16.31) |
(3.92) |
(23.90) |
(20.23) |
39.41 |
(30.65) |
|
|
Profit before Tax |
347.52 |
336.36 |
321.46 |
683.88 |
820.95 |
1311.06 |
|
|
Tax Expense |
|
|
|
|
|
|
|
|
Current tax |
(50.03) |
(61.16) |
(25.18) |
(111.19) |
(52.28) |
(98.16) |
|
|
Deferred tax |
(36.10) |
(34.55) |
(61.95) |
(70.65) |
(145.25) |
(219.11) |
|
|
Total Tax Expense (Net) |
(86.13) |
(95.71) |
(87.13) |
(181.84) |
(197.53) |
(317.27) |
|
|
Net Profit after Tax |
261.39 |
240.65 |
234.33 |
502.04 |
623.42 |
993.79 |
|
|
Share of net profit/(loss) in Associates and Joint Ventures using equity method |
24.41 |
(40.41) |
38.85 |
(16.00) |
(4.69) |
(63.33) |
|
|
Group Consolidated Net Profit (A) |
285.80 |
200.24 |
273.18 |
486.04 |
618.73 |
930.46 |
|
|
Attributable to : |
|
|
|
|
|
|
|
|
Owners of the Parent |
268.04 |
185.15 |
257.06 |
453.19 |
584.62 |
856.69 |
|
|
Non Controlling Interest |
17.76 |
15.09 |
16.12 |
32.85 |
34.11 |
73.77 |
|
|
Other Comprehensive Income |
|
|
|
|
|
|
|
|
i) Items that will not be reclassified to profit or loss |
|
|
|
|
|
|
|
|
Remeasurement of the defined benefit plans |
(37.26) |
(1.39) |
(7.18) |
(38.65) |
(68.91) |
(145.58) |
|
|
Changes in fair valuation of equity instruments |
3.48 |
1.39 |
1.07 |
4.87 |
2.67 |
5.88 |
|
|
|
(33.78) |
0.00 |
(6.11) |
(33.78) |
(66.24) |
(139.70) |
|
|
Tax impact on above items |
5.81 |
(12.25) |
0.72 |
(6.44) |
7.86 |
22.06 |
|
|
|
(27.97) |
(12.25) |
(5.39) |
(40.22) |
(58.38) |
(117.64) |
|
|
ii) Items that will be reclassified to profit or loss |
|
|
|
|
|
|
|
|
Exchange differences on translation of foreign operations |
(141.78) |
123.03 |
29.91 |
(18.75) |
19.69 |
262.68 |
|
|
Gains/(loss) on Effective portion of cash flow hedges |
21.77 |
34.04 |
30.84 |
55.81 |
(7.43) |
3.56 |
|
|
|
(120.01) |
157.07 |
60.75 |
37.06 |
12.26 |
266.24 |
|
|
Tax impact on above items |
(4.53) |
(11.11) |
(6.60) |
(15.64) |
1.65 |
0.82 |
|
|
|
(124.54) |
145.96 |
54.15 |
21.42 |
13.91 |
267.06 |
|
|
Total Other Comprehensive Income (B) |
(152.51) |
133.71 |
48.76 |
(18.80) |
(44.47) |
149.42 |
|
|
Attributable to : |
|
|
|
|
|
|
|
|
Owners of the Parent |
(134.54) |
112.42 |
42.21 |
(22.12) |
(38.64) |
127.49 |
|
|
Non Controlling Interest |
(17.97) |
21.29 |
6.55 |
3.32 |
(5.83) |
21.93 |
|
|
Total Comprehensive Income (A+B) |
133.29 |
333.95 |
321.94 |
467.24 |
574.26 |
1079.88 |
|
|
Attributable to : |
|
|
|
|
|
|
|
|
Owners of the Parent |
133.50 |
297.57 |
299.27 |
431.07 |
545.98 |
984.18 |
|
|
Non Controlling Interest |
(0.21) |
36.38 |
22.67 |
36.17 |
28.28 |
95.70 |
|
|
Paid-up equity share capital (Face value of Re 1 each) |
92.16 |
92.16 |
92.16 |
92.16 |
92.16 |
92.16 |
|
|
Reserves excluding Revaluation Reserve |
|
|
|
|
|
14420.49 |
|
|
Earnings per share (Basic & Diluted) (not annualised for the quarter and year to date) - Rs |
2.91 |
2.01 |
2.79 |
4.92 |
6.34 |
9.30 |
|
Notes:
1. For the quarter, Revenue from operations increased by 9% (8% in constant currency) as compared to corresponding quarter of the previous year, mainly driven by growth of 14% in India Beverages and 23% in India Foods, International business revenues, excluding exited businesses, were marginally higher. Profit before exceptional items and tax at Rs 364 Crores is higher by 5% on account of improved gross margin partly offset by higher spends behind brands. Group Consolidated Net Profit at Rs 286 Crores is higher by 5%.
2. Exceptional item for the current quarter of Rs 16 Crores mainly represent costs relating to the business restructure and redundancy. Exceptional item for the corresponding quarter of the previous year represents costs relating to the business integration of foods business of Rs 10 Crores, redundancy cost of Rs 9 Crores and impairment of assets of Rs 5 Crores.
3. During the quarter ended September 30, 2021, the Group's performance was not adversely impacted by the Covid pandemic, except for some businesses, in particular, those in out of home consumption sectors although there is an improving trend. There can be future business uncertainties depending on developments in relation to the pandemic, which could include market closures, supply constraints and commodity cost volatility.
4. Share of profits/(loss) in Associates and Joint Ventures include the profits/(loss) of an Associate operating in North India plantations, which are seasonal in nature.
5. The Consolidated Statement of Assets and Liabilities as at September 30, 2021 and Consolidated Cash Flow Statement for the period ended September 30, 2021 is annexed.
6. Previous period's figures have been regrouped / rearranged, to the extent necessary, to conform to current period's classifications.
7. The aforementioned results were reviewed by the Audit Committee of the Board on October 21, 2021 and subsequently taken on record by the Board of Directors at its Meeting held on October 22, 2021. The Statutory Auditors of the Company have conducted limited review on these results.
8. The Consolidated and Standalone result for the quarter and six months ended September 30, 2021 are available on the BSE website (URL: www.bseindia.com), the National Stock Exchange website (URL: www.nseindia.com) and on the Company's website (URL: www.tataconsumer.com).
Sunil D'Souza
Managing Director and CEO
Mumbai: October 22, 2021
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Segment wise Revenue, Results, Assets and Liabilities for the quarter and six months ended September 30, 2021
Rs. In Crores
|
Particulars |
Three months ended |
Year to date ended |
Year ended |
|||
|
September 30, 2021 |
June 30, |
September 30, 2020 |
September 30, 2021 |
September 30, 2020 |
March 31, |
|
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Audited |
|
|
Segment Revenue |
|
|
|
|
|
|
|
Branded Business |
|
|
|
|
|
|
|
India - Beverages |
1265.86 |
1267.09 |
1107.96 |
2532.95 |
2096.58 |
4561.55 |
|
India - Foods |
712.22 |
704.67 |
580.31 |
1416.89 |
1169.37 |
2441.69 |
|
International Business |
781.27 |
767.58 |
812.54 |
1548.85 |
1691.76 |
3508.43 |
|
Total Branded Business |
2759.35 |
2739.34 |
2500.81 |
5498.69 |
4957.71 |
10511.67 |
|
Non Branded Business |
279.91 |
277.64 |
287.64 |
557.55 |
552.06 |
1122.17 |
|
Total Segment Revenue |
3039.26 |
3016.98 |
2788.45 |
6056.24 |
5509.77 |
11633.84 |
|
Others |
6.28 |
2.73 |
3.24 |
9.01 |
4.31 |
13.45 |
|
Less: Inter segment Sales |
(12.42) |
(11.25) |
(10.35) |
(23.67) |
(18.83) |
(45.26) |
|
Revenue from Operations |
3033.12 |
3008.46 |
2781.34 |
6041.58 |
5495.25 |
11602.03 |
|
Segment Results |
|
|
|
|
|
|
|
Branded Business |
|
|
|
|
|
|
|
India - Beverages |
169.68 |
150.73 |
144.71 |
320.41 |
356.85 |
487.87 |
|
India - Foods |
74.84 |
96.00 |
92.95 |
170.84 |
207.51 |
387.66 |
|
International Business |
109.69 |
96.00 |
105.34 |
205.69 |
233.99 |
467.32 |
|
Total Branded Business |
354.21 |
342.73 |
343.00 |
696.94 |
798.35 |
1342.85 |
|
Non Branded Business |
21.54 |
18.63 |
18.11 |
40.17 |
32.06 |
90.89 |
|
Total Segment Results |
375.75 |
361.36 |
361.11 |
737.11 |
830.41 |
1433.74 |
|
Add/(Less) |
|
|
|
|
|
|
|
Other Income |
32.71 |
24.54 |
23.97 |
57.25 |
53.26 |
95.82 |
|
Finance Cost |
(19.78) |
(20.43) |
(17.87) |
(40.21) |
(35.15) |
(68.69) |
|
Unallocable items |
(24.85) |
(25.19) |
(21.85) |
(50.04) |
(66.98) |
(119.16) |
|
Exceptional Items |
(16.31) |
(3.92) |
(23.90) |
(20.23) |
39.41 |
(30.65) |
|
Profit Before Tax |
347.52 |
336.36 |
321.46 |
683.88 |
820.95 |
1311.06 |
|
Segment Assets |
|
|
|
|
|
|
|
Branded Business |
|
|
|
|
|
|
|
India - Beverages |
2143.98 |
1897.09 |
2464.42 |
2143.98 |
2464.42 |
2311.90 |
|
India - Foods |
6499.12 |
6533.87 |
6188.80 |
6499.12 |
6188.80 |
6442.40 |
|
International Business |
5256.56 |
5375.41 |
5318.81 |
5256.56 |
5318.81 |
5206.59 |
|
Total Branded Business |
13899.66 |
13806.37 |
13972.03 |
13899.66 |
13972.03 |
13960.89 |
|
Non Branded Business |
1637.48 |
1594.30 |
1515.36 |
1637.48 |
1515.36 |
1577.24 |
|
Total Segment Assets |
15537.14 |
15400.67 |
15487.39 |
15537.14 |
15487.39 |
15538.13 |
|
Unallocable Corporate Assets |
4254.35 |
4404.29 |
3916.82 |
4254.35 |
3916.82 |
4717.74 |
|
Total Assets |
19791.49 |
19804.96 |
19404.21 |
19791.49 |
19404.21 |
20255.87 |
|
Segment Liabilities |
|
|
|
|
|
|
|
Branded Business |
|
|
|
|
|
|
|
India - Beverages |
1176.23 |
1011.09 |
1029.70 |
1176.23 |
1029.70 |
1309.12 |
|
India - Foods |
314.05 |
326.00 |
284.15 |
314.05 |
284.15 |
293.77 |
|
International Business |
692.98 |
718.26 |
718.98 |
692.98 |
718.98 |
756.98 |
|
Total Branded Business |
2183.26 |
2055.35 |
2032.83 |
2183.26 |
2032.83 |
2359.87 |
|
Non Branded Business |
195.84 |
183.01 |
178.36 |
195.84 |
178.36 |
174.35 |
|
Total Segment Liabilities |
2379.10 |
2238.36 |
2211.19 |
2379.10 |
2211.19 |
2534.22 |
|
Unallocable Corporate Liabilities |
1716.85 |
2004.13 |
1972.15 |
1716.85 |
1972.15 |
2094.61 |
|
Total Liabilities |
4095.95 |
4242.49 |
4183.34 |
4095.95 |
4183.34 |
4628.83 |
Notes:
a. The Group has organised business into Branded Segment and Non Branded Segment. Branded Segment is further sub-categorised as India Beverages, India Foods and International Business. Accordingly, the group has reported its segment results for these segments. A business unit has been regrouped between the segments in the current year, the corresponding segment information for the comparative periods have been restated as per the requirements of Ind AS 108.
b. Business Segments: The internal business segmentation and the activities encompassed therein are as follows:
i) Branded Business -
India Beverages : Sale of branded Tea, Coffee and Water in various value added forms
India Foods : Sale of food products in various value added forms
International Business : Sale of branded Tea, Coffee and Water in various value added forms
ii) Non Branded Business - Plantation and Extraction business for Tea, Coffee and other produce.
c. The segment wise revenue, results, assets and liabilities figures relate to the respective amounts directly identifiable to each of the segments. Unallocable items includes expenses incurred on common services at the corporate level. Other Income excludes allocable income to segment results.
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Statement of Assets and Liabilities as at September 30, 2021
Rs. In Crores
|
|
As at September 30, 2021 |
As at March 31, 2021 |
|
|
Unaudited |
Audited |
|
ASSETS |
|
|
|
Non-Current Assets |
|
|
|
Property Plant and Equipment |
1252.19 |
1222.67 |
|
Capital Work in Progress |
66.95 |
93.17 |
|
Investment Property |
32.86 |
33.17 |
|
Right of Use Assets |
371.01 |
386.41 |
|
Goodwill |
7601.22 |
7596.57 |
|
Other Intangible Assets |
2773.62 |
2784.31 |
|
Intangible Assets under Development |
10.98 |
19.68 |
|
Investments accounted for using Equity method |
242.61 |
207.27 |
|
Financial Assets |
|
|
|
Investments |
434.31 |
275.46 |
|
Loans |
20.16 |
21.87 |
|
Other Financial Assets |
68.63 |
74.92 |
|
Deferred Tax Assets (Net) |
37.28 |
38.05 |
|
Non-current Tax Assets (net) |
136.53 |
142.30 |
|
Other Non Current Assets |
277.76 |
311.39 |
|
|
13326.11 |
13207.24 |
|
Current Assets |
|
|
|
Inventories |
2281.93 |
2249.16 |
|
Financial Assets |
|
|
|
Investments |
175.38 |
323.16 |
|
Trade Receivables |
651.99 |
761.32 |
|
Cash and Cash Equivalent |
1214.73 |
2041.99 |
|
Other Bank balances |
1349.38 |
1032.89 |
|
Loans |
222.12 |
185.12 |
|
Other Financial Assets |
185.43 |
116.35 |
|
Current Tax Assets (net) |
3.13 |
1.37 |
|
Other Current Assets |
381.29 |
337.27 |
|
|
6465.38 |
7048.63 |
|
TOTAL ASSETS |
19791.49 |
20255.87 |
|
EQUITY AND LIABILITIES |
|
|
|
Equity |
|
|
|
Equity Share Capital |
92.16 |
92.16 |
|
Other Equity |
14500.59 |
14442.35 |
|
Equity attributable to the equity holders of the company |
14592.75 |
14534.51 |
|
Non Controlling Interest |
1102.79 |
1092.53 |
|
Total Equity |
15695.54 |
15627.04 |
|
Non-Current Liabilities |
|
|
|
Financial Liabilities |
|
|
|
Borrowings |
264.42 |
287.54 |
|
Lease Liability |
367.59 |
389.10 |
|
Other Financial Liabilities |
83.82 |
80.24 |
|
Provisions |
197.41 |
192.46 |
|
Deferred Tax Liabilities (Net) |
658.75 |
570.16 |
|
Non Current Tax Liabilities |
13.18 |
14.87 |
|
|
|
|
|
Current Liabilities |
|
|
|
Financial Liabilities |
|
|
|
Borrowings |
488.78 |
919.62 |
|
Lease Liability |
47.38 |
37.81 |
|
Trade Payables |
1505.41 |
1625.47 |
|
Other Financial Liabilities |
226.31 |
249.67 |
|
Other Current Liabilities |
126.61 |
136.09 |
|
Provisions |
97.61 |
101.71 |
|
Current Tax Liabilities (net) |
18.68 |
24.09 |
|
|
2510.78 |
3094.46 |
|
TOTAL EQUITY AND LIABILITIES |
19791.49 |
20255.87 |
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Statement of Cash Flows for the six months ended September 30, 2021
Rs. In Crores
|
|
Particulars |
September 30, |
September 30, |
|
A. |
Cash Flow from Operating Activities |
|
|
|
|
Net Profit before Tax |
683.88 |
820.95 |
|
|
Adjusted for : |
|
|
|
|
Depreciation and Amortisation |
136.10 |
124.47 |
|
|
Finance Cost |
40.21 |
35.15 |
|
|
Dividend Income |
(2.54) |
(2.30) |
|
|
Profit on sale of current investments (net) |
(5.01) |
(8.76) |
|
|
Fair value movement in Financial instruments at fair value through profit or loss |
(4.41) |
(4.82) |
|
|
Interest Income |
(45.23) |
(37.43) |
|
|
Unrealised foreign exchange (gain) / loss |
(0.47) |
5.00 |
|
|
Impairment loss recognised in trade receivables & advances (net of reversal) |
- |
16.12 |
|
|
(Profit) / Loss on sale of Property, Plant & Equipment including Investment property (net) |
(2.07) |
0.23 |
|
|
Rental Income from Investment Property |
(1.24) |
(2.08) |
|
|
|
|
|
|
|
Exceptional items - |
|
|
|
|
Gain on conversion of a Joint Venture into a Subsidiary |
- |
(84.30) |
|
|
Impairment of Asset |
- |
4.59 |
|
|
Other Exceptional Expenses |
20.23 |
40.30 |
|
|
Operating Profit before working capital changes |
819.45 |
907.12 |
|
|
Adjustments for: |
|
|
|
|
Trade Receivables & Other Assets |
16.77 |
165.93 |
|
|
Inventories |
(32.38) |
(854.21) |
|
|
Trade payables & Other Liabilities |
(130.99) |
359.39 |
|
|
Cash generated from /(used in) operations |
672.85 |
578.23 |
|
|
Direct taxes paid (net) |
(130.03) |
(45.46) |
|
|
Net Cash from /(used in) Operating Activities |
542.82 |
532.77 |
|
B. |
Cash Flow from Investing Activities |
|
|
|
|
Payment for Property, Plant and Equipment including Intangibles assets |
(88.75) |
(63.12) |
|
|
Sale of Property, Plant and Equipment |
0.59 |
1.10 |
|
|
Rental Income from Investment Property |
1.24 |
2.08 |
|
|
Sale of Non Current Investments carried at Fair value through OCI |
0.15 |
- |
|
|
Acquisition of a Subsidiary |
- |
(13.00) |
|
|
Investments in Joint Ventures |
(61.00) |
(97.50) |
|
|
Investments in Associate |
(150.00) |
- |
|
|
Dividend Income received (including dividend from Associates & JVs) |
9.13 |
5.04 |
|
|
Interest Income received |
34.83 |
32.71 |
|
|
(Purchase) / Sale of Current Investments (net) |
152.80 |
608.92 |
|
|
(Placement) / Redemption Fixed deposits (net) |
(314.52) |
(363.89) |
|
|
Inter Corporate Loans and Deposits including FX (net) |
(50.93) |
(33.00) |
|
|
Net cash from /(used in) Investing Activities |
(466.46) |
79.34 |
|
C. |
Cash Flow from Financing Activities |
|
|
|
|
Proceeds from / (Repayment of) Long term borrowings (net) |
(465.42) |
(30.85) |
|
|
Proceeds from / (Repayment of) Short term borrowings (net) |
(0.73) |
20.82 |
|
|
Payment of Lease Liabilities |
(26.07) |
(22.43) |
|
|
Dividend paid |
(398.45) |
(260.75) |
|
|
Finance Cost paid |
(33.17) |
(32.36) |
|
|
Refund of Dividend Distribution Tax paid in an earlier year |
13.38 |
9.07 |
|
|
Net Cash from / (used in) Financing Activities |
(910.46) |
(316.50) |
|
|
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) |
(834.10) |
295.61 |
|
|
Opening balance of Cash and Cash Equivalent |
1773.18 |
889.34 |
|
|
Add: Cash and Cash equivalent of the acquired companies |
- |
5.11 |
|
|
Less: Cash and Cash equivalent on disposal of a subsidiary |
- |
- |
|
|
Exchange Gain/ (Loss) on translation of foreign currency Cash and Cash equivalents |
6.89 |
(10.00) |
|
|
Closing Cash and Cash Equivalent |
945.97 |
1180.06 |
|
|
Reconciliation with Balance Sheet |
|
|
|
|
Cash and Cash Equivalents |
945.97 |
1180.06 |
|
|
Add : Bank Overdraft |
268.76 |
238.21 |
|
|
Balance at the end of the period |
1214.73 |
1418.27 |
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Standalone Financial Results for the quarter and six months ended September 30, 2021
Rs. In Crores
|
Particulars
|
Three months ended |
Year to date ended |
Year ended |
|||
|
September 30 |
June 30 |
September 30 |
September 30 |
September 30 |
March 31 |
|
|
2021 |
2021 |
2020 |
2021 |
2020 |
2021 |
|
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Audited |
|
|
Revenue from Operations |
1987.50 |
1965.89 |
1736.14 |
3953.39 |
3341.57 |
7154.36 |
|
Other Income |
31.05 |
146.23 |
33.57 |
177.28 |
79.27 |
133.01 |
|
Total Income |
2018.55 |
2112.12 |
1769.71 |
4130.67 |
3420.84 |
7287.37 |
|
Cost of materials consumed |
826.54 |
886.85 |
863.14 |
1713.39 |
1467.05 |
3421.65 |
|
Purchase of stock-in-trade |
403.04 |
416.94 |
353.86 |
819.98 |
694.01 |
1425.63 |
|
Changes in inventories of finished goods, work-in-progress & stock-in-trade |
19.05 |
(20.11) |
(87.74) |
(1.06) |
(82.12) |
(116.90) |
|
Employees benefits expense |
88.87 |
88.36 |
77.45 |
177.23 |
149.22 |
321.58 |
|
Finance costs |
7.65 |
7.66 |
6.46 |
15.31 |
12.99 |
28.13 |
|
Depreciation and amortisation expense |
36.09 |
34.88 |
30.84 |
70.97 |
60.43 |
126.21 |
|
Advertisement and sales charges |
132.90 |
86.14 |
90.04 |
219.04 |
146.53 |
396.83 |
|
Other expenses |
248.39 |
233.79 |
185.66 |
482.18 |
387.47 |
787.00 |
|
Total Expenses |
1762.53 |
1734.51 |
1519.71 |
3497.04 |
2835.58 |
6390.13 |
|
Profit before Exceptional Items and Tax |
256.02 |
377.61 |
250.00 |
633.63 |
585.26 |
897.24 |
|
Exceptional Items (Net) |
(7.19) |
- |
(19.30) |
(7.19) |
(40.30) |
(61.10) |
|
Profit before Tax |
248.83 |
377.61 |
230.70 |
626.44 |
544.96 |
836.14 |
|
Tax Expense |
|
|
|
|
|
|
|
Current Tax |
(30.64) |
(42.44) |
(1.83) |
(73.08) |
(2.96) |
1.05 |
|
Deferred Tax |
(29.85) |
(31.43) |
(59.48) |
(61.28) |
(140.30) |
(217.68) |
|
|
|
|
|
|
|
|
|
Total Tax Expense ( net of reversals) |
(60.49) |
(73.87) |
(61.31) |
(134.36) |
(143.26) |
(216.63) |
|
Net Profit after Tax (A) |
188.34 |
303.74 |
169.39 |
492.08 |
401.70 |
619.51 |
|
Other Comprehensive Income |
|
|
|
|
|
|
|
i) Items that will not be reclassified to profit or loss |
|
|
|
|
|
|
|
Remeasurement of defined benefit plans |
0.81 |
(4.74) |
2.81 |
(3.93) |
(11.62) |
(4.44) |
|
Changes in fair valuation of equity instruments |
3.48 |
1.39 |
1.07 |
4.87 |
2.67 |
5.87 |
|
|
4.29 |
(3.35) |
3.88 |
0.94 |
(8.95) |
1.43 |
|
Tax impact of above items |
(1.05) |
1.19 |
(0.69) |
0.14 |
2.94 |
0.01 |
|
|
3.24 |
(2.16) |
3.19 |
1.08 |
(6.01) |
1.44 |
|
ii) Items that will be reclassified to profit or loss |
|
|
|
|
|
|
|
Gains/(loss) on effective portion of cash flow hedges |
1.55 |
(0.05) |
2.67 |
1.50 |
1.83 |
2.62 |
|
Tax impact of above item |
(0.39) |
0.01 |
(0.67) |
(0.38) |
(0.46) |
(0.66) |
|
|
1.16 |
(0.04) |
2.00 |
1.12 |
1.37 |
1.96 |
|
Other Comprehensive Income (Net of tax) (B) |
4.40 |
(2.20) |
5.19 |
2.20 |
(4.64) |
3.40 |
|
Total Comprehensive Income (A+B) |
192.74 |
301.54 |
174.58 |
494.28 |
397.06 |
622.91 |
|
Paid-up equity share capital (Face value of Re. 1 each) |
92.16 |
92.16 |
92.16 |
92.16 |
92.16 |
92.16 |
|
Reserves excluding Revaluation Reserves |
|
|
|
|
|
11110.08 |
|
Earnings per share (Basic & Diluted) (not annualised for the quarter and year to date end) - Rs. |
2.04 |
3.30 |
1.84 |
5.34 |
4.36 |
6.72 |
Notes:
1. For the quarter, Revenue from operations at Rs 1988 crores increased by 14% over corresponding quarter of the previous year driven by growth in branded business. Profit before tax at Rs 249 crores is higher by 8% as compared to corresponding quarter of previous year mainly on account of growth in revenue and lower exceptional items partly offset by higher spends behind brands. Profit after tax is also higher by 11% over the corresponding quarter of previous year.
2. During the quarter ended September 30, 2021, the Company's performance was not adversely impacted by the Covid pandemic. There can be future business uncertainties depending on developments in relation to the pandemic, which could include market closures, supply constraints and commodity cost volatility.
3. Exceptional item for the current quarter primarily represents redundancy cost of Rs 6 crores. Exceptional item for the corresponding quarter of previous year represents costs relating to the business integration of foods business of Rs 10 crores and redundancy costs of Rs 9 crores.
4. In accordance with Ind AS 108 "Operating Segments", segment information has been given in the consolidated financial results, and therefore, no separate disclosure on segment information is given in these standalone financial results.
5. Statement of Assets and Liabilities as at September 30, 2021 along with Cash flow Statement for the period ended September 30, 2021 is annexed.
6. Previous period's figures have been regrouped / rearranged, to the extent necessary, to conform to current period's classifications.
7. The aforementioned results were reviewed by the Audit Committee of the Board on October 21, 2021 and subsequently taken on record by the Board of Directors at its meeting held on October 22, 2021. The Statutory Auditors of the Company have conducted limited review on these results.
Sunil D'Souza
Managing Director and CEO
Mumbai: October 22, 2021
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Statement of Assets and Liabilities as at September 30, 2021
Rs. In Crores
|
|
September 30 2021 |
March 31 2021 |
|
|
Unaudited |
Audited |
|
ASSETS |
|
|
|
Non-Current Assets |
|
|
|
Property, Plant and Equipment |
292.69 |
258.30 |
|
Capital work-in-progress |
9.50 |
46.46 |
|
Right of Use Assets |
216.39 |
224.64 |
|
Goodwill |
3578.51 |
3578.51 |
|
Other Intangible Assets |
2507.19 |
2509.90 |
|
Intangible Assets under development |
9.85 |
16.44 |
|
Financial Assets |
|
|
|
Investments |
2825.22 |
2605.19 |
|
Loans |
20.00 |
21.71 |
|
Other Financial Assets |
111.05 |
103.59 |
|
Non-Current Tax Assets (Net) |
112.37 |
122.61 |
|
Other Non-Current Assets |
89.47 |
88.91 |
|
|
9772.24 |
9576.26 |
|
Current assets |
|
|
|
Inventories |
1329.67 |
1408.37 |
|
Financial Assets |
|
|
|
Investments |
138.27 |
287.77 |
|
Trade Receivables |
217.82 |
257.23 |
|
Cash and Cash Equivalents |
344.41 |
644.74 |
|
Other Bank Balances |
1277.35 |
968.95 |
|
Loans |
88.80 |
3.79 |
|
Other Financial Assets |
68.70 |
31.57 |
|
Other Current Assets |
277.28 |
253.08 |
|
|
3742.30 |
3855.50 |
|
TOTAL ASSETS |
13514.54 |
13431.76 |
|
EQUITY AND LIABILITIES |
|
|
|
Equity |
|
|
|
Equity Share Capital |
92.16 |
92.16 |
|
Other Equity |
11252.99 |
11131.94 |
|
TOTAL EQUITY |
11345.15 |
11224.10 |
|
Non-Current Liabilities |
|
|
|
Financial Liabilities |
|
|
|
Lease Liability |
210.99 |
215.30 |
|
Other Financial Liabilities |
80.56 |
76.20 |
|
Provisions |
155.80 |
148.21 |
|
Deferred Tax Liabilities |
429.07 |
367.55 |
|
|
876.42 |
807.26 |
|
Current Liabilities |
|
|
|
Financial Liabilities |
|
|
|
Lease Liability |
28.69 |
28.94 |
|
Trade Payables |
|
|
|
Total outstanding dues of Micro enterprises |
12.76 |
13.96 |
|
Total outstanding dues of creditors other |
1006.95 |
1088.67 |
|
Other Financial Liabilities |
67.93 |
81.93 |
|
Other Current Liabilities |
88.83 |
99.73 |
|
Provisions |
82.68 |
82.04 |
|
Current Tax Liabilities (Net) |
5.13 |
5.13 |
|
|
1292.97 |
1400.40 |
|
TOTAL EQUITY AND LIABILITIES |
13514.54 |
13431.76 |
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Standalone Statement of Cash Flows for the six months ended September 30, 2021
Rs. In Crores
|
|
Particulars |
September 30, |
September 30, |
|
A. |
Cash Flow from Operating Activities |
|
|
|
|
Net Profit before Tax |
626.44 |
544.96 |
|
|
Adjusted for : |
|
|
|
|
Depreciation and Amortisation |
70.97 |
60.43 |
|
|
Dividend Income |
(130.80) |
(38.14) |
|
|
Unrealised Exchange (Gain) / Loss |
(0.08) |
0.54 |
|
|
Finance Cost |
15.31 |
12.99 |
|
|
Fair value movement in Financial instruments at fair value through profit and loss |
(4.41) |
(4.35) |
|
|
Interest Income |
(37.80) |
(28.56) |
|
|
Profit on sale of current investments (net) |
(4.14) |
(8.16) |
|
|
Impairment loss recognised in trade receivables & advances (net of reversal) |
- |
15.80 |
|
|
(Profit) / Loss on sale of Property, Plant & Equipment including Investment Property (net) |
0.51 |
0.23 |
|
|
Exceptional Items |
7.19 |
40.30 |
|
|
Operating Profit before working capital changes |
543.19 |
596.04 |
|
|
Adjustments for: |
|
|
|
|
Trade Receivables & Other Assets |
(20.76) |
(4.52) |
|
|
Inventories |
78.70 |
(762.01) |
|
|
Trade payables & Other Liabilities |
(111.69) |
473.79 |
|
|
Cash generated from Operations |
489.44 |
303.30 |
|
|
Direct Taxes paid (net) |
(76.22) |
(0.45) |
|
|
Net Cash from/(used in) Operating Activities |
413.22 |
302.85 |
|
B. |
Cash Flow from Investing Activities |
|
|
|
|
Payment for Property, Plant and Equipment and Intangibles |
(41.29) |
(41.45) |
|
|
Sale of Property, Plant and Equipment |
0.33 |
0.03 |
|
|
Investment in Associate |
(150.00) |
- |
|
|
Acquisition of a Subsidiary |
- |
(13.00) |
|
|
Investment in Joint Ventures |
(61.00) |
(97.50) |
|
|
Dividend Income received |
130.80 |
38.14 |
|
|
Interest Income received |
29.47 |
26.70 |
|
|
(Purchase) / Sale of Current Investments (net) |
153.64 |
538.92 |
|
|
(Placement) / Redemption Fixed deposits (net) |
(306.30) |
(366.77) |
|
|
Inter Corporate Deposits and Loans (net) |
(83.25) |
(3.00) |
|
|
Net cash from / (used in) Investing Activities |
(327.60) |
82.07 |
|
C. |
Cash Flow from Financing Activities |
|
|
|
|
Working Capital facilities (net) |
- |
4.50 |
|
|
Payment of Lease Liabilities |
(15.52) |
(13.41) |
|
|
Dividend paid |
(373.23) |
(248.82) |
|
|
Finance Cost paid |
(10.58) |
(8.43) |
|
|
Refund of Dividend Distribution Tax paid in an earlier year |
13.38 |
- |
|
|
Net Cash from / (used in) Financing Activities |
(385.95) |
(266.16) |
|
|
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) |
(300.33) |
118.76 |
|
|
Opening balance of Cash & Cash equivalent |
644.74 |
243.24 |
|
|
Closing Cash & Cash Equivalent |
344.41 |
362.00 |
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