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RNS Number : 7454L Tata Consumer Products Limited 17 May 2022
Tata Consumer Products Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com,
Website : www.tataconsumer.com
Consolidated Financial Results for the quarter and year ended March 31, 2022
Rs. in Crores
Particulars Three months ended Year ended
March 31, 2022 December 31, 2021 March 31, 2021 March 31, 2022 March 31, 2021
Refer Note 6 Unaudited Refer Note 6 Audited Audited
Revenue from Operations 3175.41 3208.38 3037.22 12425.37 11602.03
Other Income 47.39 25.04 42.96 140.06 121.38
Total Income 3222.80 3233.42 3080.18 12565.43 11723.41
Cost of Materials Consumed 1201.12 1161.58 1322.93 4908.36 4937.45
Purchase of stock in trade 635.92 551.64 533.70 2215.39 2114.40
Changes in inventories of finished goods, work in progress and stock in (78.35) 93.36 (10.65) (39.78) (149.54)
trade
Employee Benefits Expense 268.04 258.91 270.22 1048.00 970.23
Finance Costs 16.41 16.16 15.45 72.78 68.69
Depreciation and Amortisation Expense 72.11 69.80 65.87 278.01 254.74
Advertisement and Sales charges 225.56 245.34 216.42 840.99 726.27
Other Expenses 478.79 435.89 404.40 1733.63 1459.46
Total Expenses 2819.60 2832.68 2818.34 11057.38 10381.70
Profit before Exceptional Items and Tax 403.20 400.74 261.84 1508.05 1341.71
Exceptional Items (Net) (18.65) (13.18) (63.93) (52.06) (30.65)
Profit before Tax 384.55 387.56 197.91 1455.99 1311.06
Tax Expense
Current tax (46.10) (62.95) (25.71) (220.24) (98.16)
Deferred tax (49.22) (36.93) (38.86) (156.80) (219.11)
Total Tax Expense (Net) (95.32) (99.88) (64.57) (377.04) (317.27)
Net Profit after Tax 289.23 287.68 133.34 1078.95 993.79
Share of net profit/(loss) in Associates and Joint Ventures using equity (50.18) 2.39 (58.99) (63.79) (63.33)
method
Group Consolidated Net Profit (A) 239.05 290.07 74.35 1015.16 930.46
Attributable to :
Owners of the Parent 217.54 265.05 53.90 935.78 856.69
Non Controlling Interest 21.51 25.02 20.45 79.38 73.77
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss (Net of Tax)
Remeasurement of the defined benefit plans 40.38 54.18 (9.57) 55.91 (145.58)
Changes in fair valuation of equity instruments (0.02) (0.18) 0.94 4.67 5.88
40.36 54.00 (8.63) 60.58 (139.70)
Tax impact on above items (8.27) (10.90) 1.54 (25.61) 22.06
32.09 43.10 (7.09) 34.97 (117.64)
ii) Items that will be reclassified to profit or loss (Net of Tax)
Exchange differences on translation of foreign operations 13.05 18.44 47.45 12.74 262.68
Gains/(loss) on effective portion of cash flow hedges (31.17) (14.01) (14.43) 10.63 3.56
(18.12) 4.43 33.02 23.37 266.24
Tax impact on above items 13.80 2.74 5.62 0.90 0.82
(4.32) 7.17 38.64 24.27 267.06
Total Other Comprehensive Income, Net of Tax (B) 27.77 50.27 31.55 59.24 149.42
Attributable to :
Owners of the Parent 28.38 44.52 28.22 50.78 127.49
Non Controlling Interest (0.61) 5.75 3.33 8.46 21.93
Total Comprehensive Income (A+B) 266.82 340.34 105.90 1074.40 1079.88
Attributable to :
Owners of the Parent 245.92 309.57 82.12 986.56 984.18
Non Controlling Interest 20.90 30.77 23.78 87.84 95.70
Paid-up equity share capital (Face value of Re 1 each) 92.16 92.16 92.16 92.16 92.16
Reserves excluding Revaluation Reserve 15027.92 14420.49
Earnings per share (not annualised for the quarter)
Basic - Rs 2.36 2.88 0.58 10.15 9.30
Diluted - Rs 2.36 2.88 0.58 10.15 9.30
Notes:
1. For the quarter, Revenue from operations increased by 5% (4% in
constant currency) as compared to corresponding quarter of the previous year,
mainly driven by growth in the India branded business. Profit before
exceptional items and tax at Rs 403 Crores is higher by 54%. Group
Consolidated Net Profit at Rs 239 Crores is higher by 222% mainly aided by
growth in underlying profitability and lower exceptional costs.
2. a) The Board of Directors of the Holding Company in its meeting held on
March 29, 2022, have approved the composite scheme of arrangement (the
scheme), amongst the Holding Company and its subsidiaries, Tata Coffee Limited
(TCL) and TCPL Beverages & Foods Limited (TBFL), in terms of Section
230-232 and other applicable provisions of Companies Act, 2013.
The Scheme inter alia provides for the demerger of the Plantation Business (as
defined in the Scheme) of TCL into TBFL and as consideration, issue equity
shares of the Holding Company to all the shareholders of TCL (other than to
itself) in accordance with the Share Entitlement Ratio mentioned in the
Scheme. This would be followed immediately by the amalgamation of the TCL
comprising of the Remaining Business (as defined in the Scheme) with the
Holding Company and as consideration, issue equity shares of the Holding
Company to all the shareholders of TCL (other than to itself) in accordance
with the Share Exchange Ratio mentioned in the Scheme.
The Scheme would become effective after receipt of all requisite approvals as
mentioned in the Scheme. Pending receipt of necessary approvals, no effect of
the Scheme has been given in the financial results for the quarter and year
ended March 31, 2022.
b) The Board of Directors of the Holding Company in its meeting held on March
29, 2022 have also approved acquisition of additional 10.15% stake in Tata
Consumer Products UK Group Limited, an overseas subsidiary, through an issue
of equity shares of the Holding Company on a preferential basis, as
consideration for the acquisition. Post completion of this acquisition after
requisite approvals, Tata Consumer Products UK Group Limited will become a
wholly owned subsidiary of the Holding Company.
3. Exceptional item for the current quarter mainly represent costs
relating to the business restructure and reorganisation of Rs 15 Crores and
cost relating to the proposed scheme of arrangement of Rs 4 Crores.
Exceptional items for the corresponding quarter of the previous year represent
costs relating to the business restructure and reorganisation of Rs 18 Crores
and loss on disposal of an overseas subsidiary/Joint Venture of Rs 46 Crores.
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 March 31,
2022 and Consolidated Cash Flow Statement for the year ended March 31, 2022 is
annexed.
6. Figures of the quarter ended March 31, 2022 and March 31, 2021 are the
balancing figures between audited figures in respect of the full financial
year and year to date figures up to the third quarter of the relevant
financial year.
7. The Board of Directors has recommended a dividend payment of Rs 6.05
per share (Face value Re. 1 each) for the year ended March 31, 2022.
8. Previous period's figures have been regrouped / rearranged, to the
extent necessary, to conform to current period's classifications.
9. The aforementioned results were reviewed by the Audit Committee of the
Board on May 03, 2022 and subsequently taken on record by the Board of
Directors at its Meeting held on May 04, 2022. The Statutory Auditors of the
Company have audited the annual results.
10. The Consolidated and Standalone result for the quarter and year ended
March 31, 2022 are available on the BSE website (URL: www.bseindia.com
(http://www.bseindia.com) ), the National Stock Exchange website (URL:
www.nseindia.com (http://www.nseindia.com) ) and on the Company's website
(URL: www.tataconsumer.com (http://www.tataconsumer.com) ).
Sd/-
Sunil D'Souza
Managing Director and CEO
Mumbai: May 4, 2022
Tata Consumer Products Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com,
Website : www.tataconsumer.com
Consolidated Segment wise Revenue, Results, Assets and Liabilities for the
year ended March 31, 2022
Rs. in Crores
Particulars Three months ended Year ended
March 31, 2022 December 31, 2021 March 31, 2021 March 31, 2022 March 31, 2021
Refer Note 6 Unaudited Refer Note 6 Audited Audited
Segment Revenue
Branded Business
India Business 1953.66 2010.04 1841.82 7913.54 7003.24
International Business 890.19 896.62 879.91 3335.66 3508.43
Total Branded Business 2843.85 2906.66 2721.73 11249.20 10511.67
Non Branded Business 344.64 312.25 323.64 1214.44 1122.17
Total Segment Revenue 3188.49 3218.91 3045.37 12463.64 11633.84
Others 0.27 4.50 0.75 13.78 13.45
Less: Inter segment Sales (13.35) (15.03) (8.90) (52.05) (45.26)
Revenue from Operations 3175.41 3208.38 3037.22 12425.37 11602.03
Segment Results
Branded Business
India Business 257.53 262.89 140.63 1011.67 875.53
International Business 128.47 144.21 108.60 478.37 467.32
Total Branded Business 386.00 407.10 249.23 1490.04 1342.85
Non Branded Business 29.31 23.17 38.47 92.65 90.89
Total Segment Results 415.31 430.27 287.70 1582.69 1433.74
Add/Less
Other Income 33.75 18.94 26.45 109.94 95.82
Finance Cost (16.41) (16.16) (15.45) (72.78) (68.69)
Unallocable items (29.45) (32.31) (36.86) (111.80) (119.16)
Exceptional Items (18.65) (13.18) (63.93) (52.06) (30.65)
Profit Before Tax 384.55 387.56 197.91 1455.99 1311.06
Segment Assets
Branded Business
India Business 9099.75 9391.59 8754.30 9099.75 8754.30
International Business 5384.58 5338.40 5206.59 5384.58 5206.59
Total Branded Business 14484.33 14729.99 13960.89 14484.33 13960.89
Non Branded Business 1752.27 1646.85 1577.24 1752.27 1577.24
Total Segment Assets 16236.60 16376.84 15538.13 16236.60 15538.13
Unallocable Corporate Assets 4880.99 4072.81 4717.74 4880.99 4717.74
Total Assets 21117.59 20449.65 20255.87 21117.59 20255.87
Segment Liabilities
Branded Business
India Business 1756.03 1691.30 1602.89 1756.03 1602.89
International Business 785.88 716.98 756.98 785.88 756.98
Total Branded Business 2541.91 2408.28 2359.87 2541.91 2359.87
Non Branded Business 178.91 158.58 174.35 178.91 174.35
Total Segment Liabilities 2720.82 2566.86 2534.22 2720.82 2534.22
Unallocable Corporate Liabilities 2103.21 1809.38 2094.61 2103.21 2094.61
Total Liabilities 4824.03 4376.24 4628.83 4824.03 4628.83
Notes:
a. The Group has organised business into Branded Segment and Non Branded
Segment. Branded Segment is further sub-categorised as India Business and
International Business. Accordingly, the Group has reported its segment
results for these segments.
b. Business Segments: The internal business segmentation and the
activities encompassed therein are as follows:
i) Branded Business -
India Business : Sale of branded Tea, Coffee & Water and sale of food
products in various value added forms
International Business : Sale of branded Tea, Coffee & Water and sale of
food products 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.
d. The Group has revised the composition of its reportable segments to
align with the changes in the manner in which the Group's CODM allocates
resource and reviews performance. The corresponding segment information for
the earlier periods has been restated as per the requirements of Ind AS 108 -
Operating Segments.
Tata Consumer Products Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com,
Website : www.tataconsumer.com
Audited Consolidated Statement of Assets and Liabilities as at March 31, 2022
Rs in Crores
March 31, 2022 March 31, 2021
ASSETS
Non-Current Assets
Property Plant and Equipment 1480.31 1222.67
Capital Work in Progress 209.44 93.17
Investment Property 17.31 33.17
Investment Property under Development 214.78 -
Right of Use Assets 378.44 386.41
Goodwill 7754.11 7596.57
Other Intangible Assets 2754.40 2784.31
Intangible Assets under Development 37.53 19.68
Investments accounted for using Equity method 234.31 207.27
Financial Assets
Investments 364.94 275.46
Loans 14.01 21.87
Other Financial Assets 35.69 74.92
Deferred Tax Assets (Net) 42.72 38.05
Non-current Tax Assets (Net) 141.66 142.30
Other Non Current Assets 302.26 311.39
13981.91 13207.24
Current Assets
Inventories 2266.51 2249.16
Financial Assets
Investments 198.03 323.16
Trade Receivables 835.15 761.32
Cash and Cash Equivalent 1497.97 2041.99
Other Bank balances 1101.92 1032.89
Loans 659.94 185.12
Other Financial Assets 184.30 116.35
Current Tax Assets (net) 1.33 1.37
Other Current Assets 390.53 337.27
7135.68 7048.63
TOTAL ASSETS 21117.59 20255.87
EQUITY AND LIABILITIES
Equity
Equity Share Capital 92.16 92.16
Other Equity 15049.78 14442.35
Equity attributable to the equity holders of the company 15141.94 14534.51
Non Controlling Interest 1151.62 1092.53
Total Equity 16293.56 15627.04
Non-Current Liabilities
Financial Liabilities
Borrowings 241.87 287.54
Lease Liability 350.91 389.10
Other Financial Liabilities 93.14 80.24
Provisions 175.59 192.46
Deferred Tax Liabilities (Net) 776.41 570.16
Non Current Tax Liabilities 13.49 14.87
1651.41 1534.37
Current Liabilities
Financial Liabilities
Borrowings 768.72 919.10
Lease Liability 50.51 37.81
Trade Payables 1915.85 1625.47
Other Financial Liabilities 211.78 250.19
Other Current Liabilities 132.15 136.09
Provisions 73.21 101.71
Current Tax Liabilities (net) 20.40 24.09
3172.62 3094.46
TOTAL EQUITY AND LIABILITIES 21117.59 20255.87
Tata Consumer Products Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com,
Website : www.tataconsumer.com
Audited Consolidated Statement of Cash Flows for the year ended March 31, 2022
Rs. In Crores
Particulars March 31, 2022 March 31, 2021
A. Cash Flow from Operating Activities
Net Profit before Tax 1455.99 1311.06
Adjusted for :
Depreciation and amortisation 278.01 254.74
Finance Cost 72.78 68.69
Dividend Income (2.12) (2.02)
Profit on sale of current investments (net) (8.94) (13.00)
Fair value movement in Financial instruments at fair value through profit (13.49) (8.11)
and loss
Interest Income (85.39) (72.70)
Unrealised foreign exchange (gain) / loss (0.51) 4.13
Impairment loss recognised in trade receivables and advances (net of 1.23 21.49
reversal)
(Profit) / Loss on sale of Property, Plant & Equipment including 1.61 (11.75)
investment property (net)
Rental Income from Investment Property (2.42) (3.81)
Exceptional Items -
Gain on conversion of a Joint Venture into a Subsidiary - (84.30)
Impairment of Asset - 46.45
Loss on disposal of a business - 4.25
Other Exceptional Items 52.06 64.25
Operating Profit before working capital changes 1748.81 1579.37
Adjustments for:
Trade Receivables & Other Assets (148.78) 186.14
Inventories (0.91) (533.45)
Trade payables & Other Liabilities 151.96 530.74
Cash generated from /(used in) operations 1751.08 1762.80
Direct taxes paid (235.27) (106.43)
Net Cash from Operating Activities 1515.81 1656.37
B. Cash Flow from Investing Activities
Payment for Property, Plant and Equipment including Intangibles (273.34) (210.68)
Sale of Property, Plant and Equipment 27.26 31.50
Rental Income from Investment Property 2.42 3.81
Sale of Non Current Investments carried at Fair value through OCI 1.20 0.02
Acquisition of Subsidiaries (465.00) (168.80)
Investments in Joint Ventures (86.00) (112.32)
Investments in Associate (150.00) -
Purchase of additional stake in a Subsidiary (46.45) -
Proceeds from disposal of Subsidiary / Joint Venture - 56.99
Deferred consideration pertaining to disposal of a Subsidiary 11.30 -
Dividend Income received (including dividend from Associates & JVs) 12.84 5.10
Interest Income received 75.21 67.96
(Purchase) / Sale of Current Investments (net) 135.27 523.39
(Placement) / Redemption Fixed deposits (net) (67.80) (532.38)
Inter Corporate Loans and Deposits including FX (net) (498.75) (73.00)
Net cash from /(used in) Investing Activities (1321.84) (408.41)
C. Cash Flow from Financing Activities
Proceeds from / (Repayment of) Long term borrowings (net) (493.00) (69.16)
Proceeds from / (Repayment of) short term borrowings (net) (1.71) 11.82
Payment of Lease Liabilities (52.78) (45.06)
Dividend & Dividend Tax paid (398.19) (267.29)
Finance Cost paid (62.51) (65.41)
Refund of Dividend Distribution Tax paid in an earlier year 13.42 9.07
Net Cash from/(used in) Financing Activities (994.77) (426.03)
Net increase/ (decrease) in Cash and Cash Equivalents (A+B+C) (800.80) 821.93
Opening balance of Cash & Cash Equivalent 1773.18 889.34
Add: Cash and Cash equivalent of the acquired companies 0.90 44.08
Less: Cash and Cash equivalent on disposal of a subsidiary - (22.80)
Exchange Gain/ (Loss) on translation of foreign currency cash/cash equivalents 3.83 40.63
Closing Cash & Cash Equivalent 977.11 1773.18
Reconciliation with Balance Sheet
Cash and Cash Equivalents 977.11 1773.18
Add : Bank Overdraft 520.86 268.81
Balance at the end of the year 1497.97 2041.99
Tata Consumer Products Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com,
Website : www.tataconsumer.com (http://www.tataconsumer.com)
Standalone Financial Results for the quarter and year ended March 31, 2022
Rs. in Crores
Particulars Three months ended Year ended
March 31, 2022 December 31, 2021 March 31, 2021 March 31, 2022 March 31, 2021
Refer Note 5 Unaudited Refer Note 5 Audited Audited
Revenue from Operations 1948.42 2030.48 1850.06 7932.29 7154.36
Other Income 37.88 23.80 28.72 238.96 133.01
Total Income 1986.30 2054.28 1878.78 8171.25 7287.37
Cost of materials consumed 735.95 746.38 892.96 3195.72 3421.65
Purchase of stock-in-trade 441.18 440.47 363.65 1701.63 1425.63
Changes in inventories of finished goods, work-in-progress & (10.18) 57.64 22.65 46.40 (116.90)
stock-in-trade
Employees benefits expense 80.27 90.91 92.18 348.41 321.58
Finance costs 7.19 7.28 7.92 29.78 28.13
Depreciation and amortisation expense 35.05 35.73 33.37 141.75 126.21
Advertisement and sales charges 142.07 150.14 123.66 511.25 396.83
Other expenses 271.51 264.30 212.91 1017.99 787.00
Total Expenses 1703.04 1792.85 1749.30 6992.93 6390.13
Profit before Exceptional Items and Tax 283.26 261.43 129.48 1178.32 897.24
Exceptional Items (Net) (10.63) (9.41) (14.43) (27.23) (61.10)
Profit before Tax 272.63 252.02 115.05 1151.09 836.14
Tax Expense
Current Tax (28.70) (28.31) (1.10) (130.09) 1.05
Deferred Tax (37.74) (36.23) (32.26) (135.25) (217.68)
Total Tax Expense (net of reversals) (66.44) (64.54) (33.36) (265.34) (216.63)
Net Profit after Tax (A) 206.19 187.48 81.69 885.75 619.51
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans 31.46 2.62 10.67 30.15 (4.44)
Changes in fair valuation of equity instruments 0.29 (0.18) 0.93 4.98 5.87
31.75 2.44 11.60 35.13 1.43
Tax impact of above items (8.51) (0.69) (3.79) (9.06) 0.01
23.24 1.75 7.81 26.07 1.44
ii) Items that will be reclassified to profit or loss
Gains/(loss) on effective portion of cash flow hedges (2.54) (0.61) 1.43 (1.65) 2.62
Tax impact of above item 0.63 0.16 (0.36) 0.41 (0.66)
(1.91) (0.45) 1.07 (1.24) 1.96
Other Comprehensive Income (B) 21.33 1.30 8.88 24.83 3.40
Total Comprehensive Income (A+B) 227.52 188.78 90.57 910.58 622.91
Paid-up equity share capital (Face value of Re. 1 each) 92.16 92.16 92.16 92.16 92.16
Reserves excluding Revaluation Reserves 11647.89 11110.08
Earnings per Shares ( not annualised for the quarter)
Basic - Rs 2.24 2.03 0.89 9.61 6.72
Diluted - Rs 2.24 2.03 0.89 9.61 6.72
Notes
1. For the quarter, Revenue from operations at Rs 1948 Crores
increased by 5% over corresponding quarter of the previous year driven by
growth in branded business. Profit before tax at Rs 273 Crores is higher by
137% as compared to corresponding quarter of previous year mainly on account
of revenue growth and improved gross margins which have been partly offset by
higher spends behind brands. Profit after tax is also higher by 152% over the
corresponding quarter of previous year.
2. (a) The Board of Directors of the Company in its meeting held on
March 29, 2022, have approved the composite scheme of arrangement (the scheme)
, amongst the Company and its subsidiaries, Tata Coffee Limited (TCL) and TCPL
Beverages & Foods Limited (TBFL), in terms of Section 230-232 and other
applicable provisions of Companies Act, 2013.
The Scheme inter alia provides for the demerger of the Plantation Business (as
defined in the Scheme) of TCL into TBFL and as consideration, issue equity
shares of the Company to all the shareholders of TCL (other than to itself) in
accordance with the Share Entitlement Ratio mentioned in the Scheme. This
would be followed immediately by the amalgamation of the TCL comprising of the
Remaining Business (as defined in the Scheme) with the Company and as
consideration, issue equity shares of the Company to all the shareholders
of TCL (other than to itself) in accordance with the Share Exchange Ratio
mentioned in the Scheme.
The Scheme would become effective after receipt of all requisite approvals as
mentioned in the Scheme. Pending receipt of necessary approvals, no effect of
the Scheme has been given in the financial results for the quarter and year
ended March 31, 2022.
b) The Board of Directors of the Company in its meeting held on March 29, 2022
have also approved acquisition of additional 10.15% stake in Tata Consumer
Products UK Group Limited, an overseas subsidiary, through an issue of equity
shares of the Company on a preferential basis, as consideration for the
acquisition. Post completion of this acquisition after requisite approvals,
Tata Consumer Products UK Group Limited will become a wholly owned subsidiary
of the Company.
3. Exceptional item for the current quarter represent costs relating
to the business restructure and reorganization of Rs 8 crores and cost
pertaining to the proposed Scheme of arrangement of Rs 3 Crores. Exceptional
costs for the corresponding quarter of previous year of Rs 14 Crores represent
costs relating to the business restructure and reorganization.
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. Figures of the quarter ended March 31, 2022 and March 31, 2021 are
the balancing figures between audited figures in respect of the full financial
year and year to date figures up to the third quarter of the relevant
financial year.
6. Statement of Assets and Liabilities as at March 31, 2022 and Cash
flow Statement for the year ended March 31, 2022 is annexed.
7. The Board of Directors has recommended a dividend payment of Rs
6.05 per share (Face value Re. 1 each) for the year ended March 31, 2022.
8. Previous period's figures have been regrouped / rearranged, to the
extent necessary, to conform to current period's classifications.
9. The aforementioned results were reviewed by the Audit Committee of
the Board on May 03, 2022 and subsequently taken on record by the Board of
Directors at its meeting held on May 04, 2022. The Statutory Auditors of the
Company have audited the annual
results.
Sunil D'Souza
Managing Director and CEO
Mumbai: May 4, 2022
Tata Consumer Products Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com,
Website : www.tataconsumer.com
Audited Statement of Assets and Liabilities as at March 31, 2022
Rs. In Crores
March 31, 2022 March 31, 2021
ASSETS
Non-Current Assets
Property, Plant and Equipment 296.93 258.30
Capital work-in-progress 2.58 46.46
Right of Use Assets 210.97 224.64
Goodwill 3578.51 3578.51
Other Intangible Assets 2477.64 2509.90
Intangible Assets under development 37.18 16.44
Financial Assets
Investments 3368.76 2605.19
Loans 13.80 21.71
Other Financial Assets 104.44 103.59
Non-Current Tax Assets (Net) 121.97 122.61
Other Non-Current Assets 86.27 88.91
10299.05 9576.26
Current assets
Inventories 1271.94 1408.37
Financial Assets
Investments 156.94 287.77
Trade Receivables 281.76 257.23
Cash and Cash Equivalents 327.40 644.74
Other Bank Balances 1001.21 968.95
Loans 559.70 3.79
Other Financial Assets 48.75 31.57
Other Current Assets 279.46 253.08
3927.16 3855.50
TOTAL ASSETS 14226.21 13431.76
EQUITY AND LIABILITIES
Equity
Equity Share Capital 92.16 92.16
Other Equity 11669.75 11131.94
TOTAL EQUITY 11761.91 11224.10
Non-Current Liabilities
Financial Liabilities
Lease Liability 205.19 215.30
Other Financial Liability 76.91 76.20
Provisions 135.32 148.21
Deferred Tax Liabilities 511.22 367.55
928.64 807.26
Current Liabilities
Financial Liabilities
Borrowings
Lease Liability 29.71 28.94
Trade Payables
Total outstanding dues of Micro enterprises and Small enterprises 29.64 13.96
Total outstanding dues of creditors other than Micro enterprises and Small 1234.10 1088.67
enterprises
Other Financial Liabilities 77.68 81.93
Other Current Liabilities 96.66 99.73
Provisions 62.74 82.04
Current Tax Liabilities (Net) 5.13 5.13
1535.66 1400.40
TOTAL EQUITY AND LIABILITIES 14226.21 13431.76
Tata Consumer Products Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com,
Website : www.tataconsumer.com (http://www.tataconsumer.com)
Audited Statement of Cash Flows for the year ended March 31, 2022
Rs. In Crores
Particulars March 31, 2022 March 31, 2021
A. Cash Flow from Operating Activities
Net Profit before Tax 1151.09 836.14
Adjusted for :
Depreciation and Amortisation 141.75 126.21
Dividend Income (145.97) (55.20)
Unrealised Exchange (Gain) / Loss (0.03) 0.27
Finance Cost 29.78 28.13
Fair value movement in Financial instruments at fair value through profit and (13.49) (8.11)
loss
Interest Income (71.95) (57.96)
Profit on sale of Current Investments (net) (7.39) (11.57)
Impairment loss recognised in trade receivables (net of reversal) - 20.46
(Profit) / Loss on sale of Property, Plant & Equipment (net) 3.27 0.49
Exceptional Items 27.23 61.10
Operating Profit before working capital changes 1114.29 939.96
Adjustments for:
Trade Receivables & Other Assets (60.59) 36.02
Inventories 136.43 (488.42)
Trade payables & Other Liabilities 111.29 586.19
Cash generated from Operations 1301.42 1073.75
Direct Taxes paid (net) (143.10) (9.52)
Net Cash from/(used in) Operating Activities 1158.32 1064.23
B. Cash Flow from Investing Activities
Payment for Property, Plant and Equipment and Intangibles (93.25) (146.89)
Sale of Property, Plant and Equipment 4.40 0.17
Sale of Non Current Investments carried at Fair value through OCI 1.05 -
Investment in Associate (150.00)
Acquisition of Subsidiaries (465.00) (168.80)
Investment in Joint Venture (86.00) (97.50)
Investments in Subsidiary (45.13) -
Dividend Income received 145.97 55.20
Interest Income received 64.35 54.17
(Purchase) / Sale of Current Investments (net) 138.22 448.31
(Placement) / Redemption Fixed deposits (net) (30.92) (473.71)
Inter Corporate Deposits and Loans (net) (548.00) (3.00)
Net cash from / (used in) Investing Activities (1064.31) (332.05)
C. Cash Flow from Financing Activities
Working Capital facilities (net) - (35.00)
Payment of Lease Liabilities (31.21) (27.81)
Dividend paid (373.23) (248.82)
Finance Cost paid (20.33) (19.05)
Refund of Dividend Distribution Tax paid in an earlier year 13.42 -
Net Cash from / (used in) Financing Activities (411.35) (330.68)
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) (317.34) 401.50
Opening balance of Cash & Cash equivalent 644.74 243.24
Exchange Gain/ (Loss) on translation of foreign currency cash/cash equivalents
Closing Cash & Cash Equivalent 327.40 644.74
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