REG - Tata Consumer Prod. - Final Results
26/04/2023 12:45
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RNS Number : 5693X Tata Consumer Products Limited 26 April 2023
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, 2023
Rs. in Crores
Particulars Three months ended Year ended
March 31, 2023 December 31, 2022 March 31, 2022 March 31, 2023 March 31, 2022
Refer Note 7 Unaudited Refer Note 7 Audited Audited
Revenue from Operations 3618.73 3474.55 3175.41 13783.16 12425.37
Other Income 55.30 48.93 47.39 168.88 140.06
Total Income 3674.03 3523.48 3222.80 13952.04 12565.43
Cost of Materials Consumed 1338.31 1350.50 1201.12 5376.56 4908.36
Purchase of stock in trade 826.57 705.50 635.92 2903.03 2215.39
Changes in inventories of finished goods, work in progress and stock in (59.48) (23.98) (78.35) (273.88) (39.78)
trade
Employee Benefits Expense 286.07 283.02 268.04 1120.36 1048.00
Finance Costs 27.66 23.68 16.41 87.16 72.78
Depreciation and Amortisation Expense 82.86 75.16 72.11 304.08 278.01
Advertisement and Sales charges 1338.31 1350.50 1201.12 5376.56 4908.36
Other Expenses 715.59 705.85 704.35 2800.62 2574.62
Total Expenses 3217.58 3119.73 2819.60 12317.93 11057.38
Profit before Exceptional Items and Tax 456.45 403.75 403.20 1634.11 1508.05
Exceptional Items (Net) (6.37) 78.57 (18.65) 159.45 (52.06)
Profit before Tax 450.08 482.32 384.55 1793.56 1455.99
Tax Expense
Current tax (89.21) (96.11) (46.10) (376.76) (220.24)
Deferred tax (15.29) (16.76) (49.22) (70.28) (156.80)
Total Tax Expense (Net) (104.50) (112.87) (95.32) (447.04) (377.04)
Net Profit after Tax 345.58 369.45 289.23 1346.52 1078.95
Share of net profit/(loss) in Associates and Joint Ventures using equity (56.02) (5.02) (50.18) (26.38) (63.79)
method
Group Consolidated Net Profit (A) 289.56 364.43 239.05 1320.14 1015.16
Attributable to :
Owners of the Parent 268.59 351.76 217.54 1203.77 935.78
Non Controlling Interest 20.97 12.67 21.51 116.37 79.38
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss (Net of Tax)
Remeasurement of the defined benefit plans (16.81) (33.82) 40.38 (104.68) 55.91
Changes in fair valuation of equity instruments (4.75) 2.86 (0.02) 12.04 4.67
(21.56) (30.96) 40.36 (92.64) 60.58
Tax impact on above items 6.27 7.37 (8.27) 23.63 (25.61)
(15.29) (23.59) 32.09 (69.01) 34.97
ii) Items that will be reclassified to profit or loss (Net of Tax)
Exchange differences on translation of foreign operations 51.99 385.91 13.05 172.79 12.74
Gains/(loss) on effective portion of cash flow hedges 13.26 (26.01) (31.17) (28.22) 10.63
65.25 359.90 (18.12) 144.57 23.37
Tax impact on above items (3.97) 9.35 13.80 8.12 0.90
61.28 369.25 (4.32) 152.69 24.27
Total Other Comprehensive Income, Net of Tax (B) 45.99 345.66 27.77 83.68 59.24
Attributable to :
Owners of the Parent (2.79) 368.62 28.38 88.72 50.78
Non Controlling Interest 48.78 (22.96) (0.61) (5.04) 8.46
Total Comprehensive Income (A+B) 335.55 710.09 266.82 1403.82 1074.40
Attributable to :
Owners of the Parent 265.80 720.38 245.92 1292.49 986.56
Non Controlling Interest 69.75 (10.29) 20.90 111.33 87.84
Paid-up equity share capital (Face value of Re 1 each) 92.90 92.90 92.16 92.90 92.16
Reserves excluding Revaluation Reserve 16161.95 15027.92
Earnings per share (not annualised for the quarter)
Basic - Rs 2.89 3.79 2.36 13.02 10.15
Diluted - Rs 2.89 3.79 2.36 13.02 10.15
Notes:
1. For the quarter, Revenue from operations increased by 14% (12% in
constant currency) as compared to corresponding quarter of the previous year,
mainly driven by underlying growth of 15% in India Business, 6% in
International Business and 9% in Non-Branded Business. Profit before
exceptional items and tax at Rs 456 Crores is 13% higher as compared to
corresponding quarter of the previous year reflecting strong growth in the
India branded business and stable performance in International and Non-branded
business. After considering exceptional items, Group Consolidated Net Profit
at Rs 290 Crores is higher by 21%.
2. The Board of Directors of the Holding Company in its meeting held on
March 29, 2022, had 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, 2023.
3. The Group has acquired 50% stake of the Joint Venture partner's in
Tetley ACI (Bangladesh) Limited, consequently converting the Joint Venture
into a wholly owned subsidiary with effect from February 9, 2023.
4. Exceptional items for the current quarter represent costs relating to
the business restructure & reorganisation of Rs 14 Crores, gain of Rs 6
Crores, based on fair valuation, arising out of the acquiring control of an
overseas joint venture (Refer Note 3 above) and other exceptional income of Rs
2 Crores. Exceptional item for the corresponding quarter of the previous year
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.
5. 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.
6. The Consolidated Statement of Assets and Liabilities as at March 31,
2023 and Consolidated Cash Flow Statement for the year ended March 31, 2023 is
annexed.
7. Figures of the quarter ended March 31, 2023 and March 31, 2022 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.
8. The Board of Directors has recommended a dividend payment of Rs 8.45
per share (Face value Re. 1 each) for the year ended March 31, 2023.
9. Previous period's figures have been regrouped / rearranged, to the
extent necessary, to conform to current period's classifications.
10. The aforementioned results were reviewed by the Audit Committee of the
Board on April 24, 2023 and subsequently taken on record by the Board of
Directors at its Meeting held on April 25, 2023. The Statutory Auditors of the
Company have audited the annual results.
11. The Consolidated and Standalone result for the quarter and year ended
March 31, 2023 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: April 25, 2023
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, 2023
Rs. in Crores
Particulars Three months ended Year ended
March 31, 2023 December 31, 2022 March 31, 2022 March 31, 2023 March 31, 2022
Refer Note 7 Unaudited Refer Note 7 Audited Audited
Segment Revenue
Branded Business
India Business 2246.49 2165.34 1953.66 8716.98 7913.54
International Business 984.05 929.93 890.19 3589.47 3335.66
Total Branded Business 3230.54 3095.27 2843.85 12306.45 11249.20
Non Branded Business 385.27 391.30 344.64 1500.07 1214.44
Total Segment Revenue 3615.81 3486.57 3188.49 13806.52 12463.64
Others 16.78 10.78 0.27 48.68 13.78
Less: Inter segment Sales (13.86) (22.80) (13.35) (72.04) (52.05)
Revenue from Operations 3618.73 3474.55 3175.41 13783.16 12425.37
Segment Results
Branded Business
India Business 311.62 300.40 257.53 1192.85 1011.67
International Business 127.22 88.42 128.47 379.81 478.37
Total Branded Business 438.84 388.82 386.00 1572.66 1490.04
Non Branded Business 25.85 27.18 29.31 122.42 92.65
Total Segment Results 464.69 416.00 415.31 1695.08 1582.69
Add/Less
Other Income 48.60 44.28 33.75 151.42 109.94
Finance Cost (27.66) (23.68) (16.41) (87.16) (72.78)
Unallocable items (29.18) (32.85) (29.45) (125.23) (111.80)
Exceptional Items (6.37) 78.57 (18.65) 159.45 (52.06)
Profit Before Tax 450.08 482.32 384.55 1793.56 1455.99
Segment Assets
Branded Business
India Business 9305.33 9600.51 9099.75 9305.33 9099.75
International Business 6070.66 6092.08 5384.58 6070.66 5384.58
Total Branded Business 15375.99 15692.59 14484.33 15375.99 14484.33
Non Branded Business 1880.04 1776.42 1752.27 1880.04 1752.27
Total Segment Assets 17256.03 17469.01 16236.60 17256.03 16236.60
Unallocable Corporate Assets 5555.10 4362.58 4880.99 5555.10 4880.99
Total Assets 22811.13 21831.59 21117.59 22811.13 21117.59
Segment Liabilities
Branded Business
India Business 2058.79 1922.02 1756.03 2058.79 1756.03
International Business 947.29 831.43 785.88 947.29 785.88
Total Branded Business 3006.08 2753.45 2541.91 3006.08 2541.91
Non Branded Business 210.45 188.83 178.91 210.45 178.91
Total Segment Liabilities 3216.53 2942.28 2720.82 3216.53 2720.82
Unallocable Corporate Liabilities 2467.72 2095.08 2103.21 2467.72 2103.21
Total Liabilities 5684.25 5037.36 4824.03 5684.25 4824.03
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.
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, 2023
Rs in Crores
March 31, 2023 March 31, 2022
ASSETS
Non-Current Assets
Property Plant and Equipment 1604.68 1480.31
Capital Work in Progress 286.10 209.44
Investment Property - 17.31
Investment Property under Development 214.78 214.78
Right of Use Assets 384.04 378.44
Goodwill 8025.38 7754.11
Other Intangible Assets 2841.16 2754.40
Intangible Assets under Development 8.80 37.53
Investments accounted for using Equity method 292.66 234.31
Financial Assets
Investments 385.57 364.94
Loans 12.52 14.01
Other Financial Assets 42.80 35.69
Deferred Tax Assets (Net) 48.64 42.72
Non-current Tax Assets (Net) 160.30 141.66
Other Non Current Assets 195.12 302.26
14502.55 13981.91
Current Assets
Inventories 2701.67 2266.51
Financial Assets
Investments 754.74 198.03
Trade Receivables 798.33 835.15
Cash and Cash Equivalent 1539.56 1497.97
Other Bank balances 1257.38 1101.92
Loans 529.72 659.94
Other Financial Assets 192.86 184.30
Current Tax Assets (net) 20.83 1.33
Other Current Assets 513.49 390.53
8308.58 7135.68
TOTAL ASSETS 22811.13 21117.59
EQUITY AND LIABILITIES
Equity
Equity Share Capital 92.90 92.16
Other Equity 16183.81 15049.78
Equity attributable to the equity holders of the company 16276.71 15141.94
Non Controlling Interest 850.17 1151.62
Total Equity 17126.88 16293.56
Non-Current Liabilities
Financial Liabilities
Borrowings 206.12 241.87
Lease Liability 362.21 350.91
Other Financial Liabilities 160.71 93.14
Provisions 167.49 175.59
Deferred Tax Liabilities (Net) 863.04 776.41
Non Current Tax Liabilities - 13.49
1759.57 1651.41
Current Liabilities
Financial Liabilities
Borrowings 976.70 768.72
Lease Liability 55.01 50.51
Trade Payables 2348.18 1915.85
Other Financial Liabilities 227.98 211.78
Other Current Liabilities 173.49 132.15
Provisions 77.40 73.21
Current Tax Liabilities (net) 65.92 20.40
3924.68 3172.62
TOTAL EQUITY AND LIABILITIES 22811.13 21117.59
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, 2023
Rs. In Crores
Particulars March 31, 2023 March 31, 2022
A. Cash Flow from Operating Activities
Net Profit before Tax 1793.56 1455.99
Adjusted for :
Depreciation and amortisation 304.08 278.01
Finance Cost 87.16 72.78
Dividend Income (2.58) (2.12)
Profit on sale of current investments (net) (17.55) (8.94)
Fair value movement in Financial instruments at fair value through profit (6.65) (13.49)
and loss
Interest Income (124.65) (85.39)
Unrealised foreign exchange (gain) / loss - (0.51)
Impairment loss recognised in trade receivables and advances (net of 0.42 1.23
reversal)
Share based payment to employees 4.04 0.46
(Profit) / Loss on sale of Property, Plant & Equipment including (0.05) 1.61
investment property (net)
Deferred Revenue (2.16) -
Rental Income from Investment Property (0.80) (2.42)
Exceptional Items -
Gain on conversion of a Joint Venture into a Subsidiary (93.15)
Profit on sale of Investment Property (147.54) -
Other Exceptional Items 81.24 52.06
Operating Profit before working capital changes 1875.37 1749.27
Adjustments for:
Trade Receivables & Other Assets (36.06) (148.78)
Inventories (367.98) (0.91)
Trade payables & Other Liabilities 378.61 151.50
Cash generated from /(used in) operations 1849.94 1751.08
Direct taxes paid (388.65) (235.27)
Net Cash from Operating Activities 1461.29 1515.81
B. Cash Flow from Investing Activities
Payment for Property, Plant and Equipment including Intangibles (311.75) (273.34)
Sale of Property, Plant and Equipment 171.85 27.26
Rental Income from Investment Property 0.80 2.42
Sale of Non Current Investments carried at Fair value through OCI 3.80 1.20
Acquisition of Subsidiaries (52.19) (465.00)
Investments in Joint Ventures (100.00) (86.00)
Investments in Associate (50.00) (150.00)
Purchase of additional stake in a Subsidiary (2.88) (46.45)
Deferred consideration pertaining to disposal of a Subsidiary 9.33 11.30
Dividend Income received (including dividend from Associates and Joint 12.72 12.84
Ventures)
Interest Income received 108.67 75.21
(Purchase) / Sale of Current Investments (net) (436.37) 135.27
Purchase of Government securities (96.14) -
Fixed Deposits Placed (1797.18) (2008.56)
Fixed Deposits Redeemed 1641.72 1940.76
Inter Corporate Deposits and Loans Placed (including FX) (1083.70) (731.50)
Inter Corporate Deposits and Loans Redeemed (including FX) 1153.50 232.75
Net Cash from/(used in) Investing Activities (827.82) (1321.84)
C. Cash Flow from Financing Activities
Repayment of Long term borrowings (56.32) (493.00)
Proceeds from / (Repayment of) Short term borrowings (net) 52.55 (1.71)
Payment of Lease Liabilities (55.55) (52.78)
Dividend paid (573.42) (398.19)
Finance Cost paid (81.66) (62.51)
Refund of Dividend Distribution Tax paid in an earlier year - 13.42
Net Cash from/(used in) Financing Activities (714.40) (994.77)
Net increase/ (decrease) in Cash and Cash Equivalents (A+B+C) (80.93) (800.80)
Opening balance of Cash & Cash Equivalent 977.11 1773.18
Cash and Cash Equivalents of the acquired companies 2.92 0.90
Exchange Gain/ (Loss) on translation of foreign currency cash/cash equivalents (8.71) 3.83
Closing Cash & Cash Equivalent 890.39 977.11
Reconciliation with Balance Sheet
Cash and Cash Equivalents 890.39 977.11
Add : Bank Overdraft 649.17 520.86
Balance at the end of the year 1539.56 1497.97
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, 2023
Rs. in Crores
Particulars Three months ended Year ended
March 31, 2023 December 31, 2022 March 31, 2022 March 31, 2023 March 31, 2022
Refer Note 5 Unaudited Refer Note 5 Audited Audited
Revenue from Operations 2177.85 2153.31 1948.42 8538.82 7932.29
Other Income 37.39 43.42 37.88 158.80 238.96
Total Income 2215.24 2196.73 1986.30 8697.62 8171.25
Cost of materials consumed 765.13 779.59 735.95 3084.23 3195.72
Purchase of stock-in-trade 567.90 602.03 441.18 2273.21 1701.63
Changes in inventories of finished goods, work-in-progress & 3.58 (66.49) (10.18) (122.27) 46.40
stock-in-trade
Employees benefits expense 99.74 100.77 80.27 394.02 348.41
Finance costs 7.59 7.33 7.19 29.36 29.78
Depreciation and amortisation expense 38.07 36.55 35.05 145.90 141.75
Other expenses 389.55 409.32 413.58 1586.72 1529.24
Total Expenses 1871.56 1869.10 1703.04 7391.17 6992.93
Profit before Exceptional Items and Tax 343.68 327.63 283.26 1306.45 1178.32
Exceptional Items (Net) (13.03) (8.00) (10.63) (39.08) (27.23)
Profit before Tax 330.65 319.63 272.63 1267.37 1151.09
Tax Expense
Current Tax (59.81) (68.75) (28.70) (257.75) (130.09)
Deferred Tax (20.38) (13.62) (37.74) (59.55) (135.25)
Total Tax Expense (net of reversals) (80.19) (82.37) (66.44) (317.30) (265.34)
Net Profit after Tax (A) 250.46 237.26 206.19 950.07 885.75
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans 8.27 0.43 31.46 18.39 30.15
Changes in fair valuation of equity instruments (4.74) 2.86 0.29 12.05 4.98
3.53 3.29 31.75 30.44 35.13
Tax impact of above items (2.19) (0.45) (8.51) (6.66) (9.06)
1.34 2.84 23.24 23.78 26.07
ii) Items that will be reclassified to profit or loss
Gains/(loss) on effective portion of cash flow hedges 1.65 (0.63) (2.54) 0.26 (1.65)
Tax impact of above item (0.41) 0.16 0.63 (0.06) 0.41
1.24 (0.47) (1.91) 0.20 (1.24)
Other Comprehensive Income (B) 2.58 2.37 21.33 23.98 24.83
Total Comprehensive Income (A+B) 253.04 239.63 227.52 974.05 910.58
Paid-up equity share capital (Face value of Re. 1 each) 92.90 92.90 92.16 92.90 92.16
Reserves excluding Revaluation Reserves 12638.50 11647.89
Earnings per Shares ( not annualised for the quarter)
Basic - Rs 2.70 2.56 2.24 10.27 9.61
Diluted - Rs 2.70 2.56 2.24 10.27 9.61
Notes
1. For the quarter, Revenue from operations at Rs 2178 Crores increased
by 12% over corresponding quarter of the previous year driven by growth in
branded business. Profit before tax at Rs 331 Crores is higher by 21% as
compared to corresponding quarter of previous year reflecting strong growth in
the branded business. Consequently, Profit after tax is also higher by 21%
over the corresponding quarter of previous year.
2. 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, 2023.
3. Exceptional item for the current quarter primarily represents costs
relating to business restructure and reorganisation of Rs 13 Crores.
Exceptional item for the corresponding quarter of previous year represent
costs relating to the business restructure and reorganisation of Rs 8 crores
and cost pertaining to Scheme of arrangement of Rs 3 crs.
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, 2023 and March 31, 2022 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, 2023 and Cash
flow Statement for the year ended March 31, 2023 is annexed.
7. The Board of Directors has recommended a dividend payment of Rs 8.45
per share (Face value Re. 1 each) for the year ended March 31, 2023.
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 April 24, 2023 and subsequently taken on record by the Board of
Directors at its meeting held on April 25, 2023. The Statutory Auditors of the
Company have audited the annual
results.
Sunil D'Souza
Managing Director and CEO
Mumbai: April 25, 2023
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, 2023
Rs. In Crores
March 31, 2023 March 31, 2022
ASSETS
Non-Current Assets
Property, Plant and Equipment 302.12 296.93
Capital work-in-progress 13.89 2.58
Right of Use Assets 205.70 210.97
Goodwill 3578.51 3578.51
Other Intangible Assets 2463.22 2477.64
Intangible Assets under development 8.45 37.18
Financial Assets
Investments 4184.25 3368.76
Loans 12.36 13.80
Other Financial Assets 114.78 104.44
Non-Current Tax Assets (Net) 130.63 121.97
Other Non-Current Assets 89.04 86.27
11102.95 10299.05
Current assets
Inventories 1400.60 1271.94
Financial Assets
Investments 651.39 156.94
Trade Receivables 341.65 281.76
Cash and Cash Equivalents 177.53 327.40
Other Bank Balances 1070.25 1001.21
Loans 430.56 559.70
Other Financial Assets 77.29 48.75
Other Current Assets 340.32 279.46
4489.59 3927.16
TOTAL ASSETS 15592.54 14226.21
EQUITY AND LIABILITIES
Equity
Equity Share Capital 92.90 92.16
Other Equity 12660.36 11669.75
TOTAL EQUITY 12753.26 11761.91
Non-Current Liabilities
Financial Liabilities
Lease Liability 201.45 205.19
Other Financial Liability 84.21 76.91
Provisions 130.11 135.32
Deferred Tax Liabilities 575.38 511.22
991.15 928.64
Current Liabilities
Financial Liabilities
Borrowings 39.50 -
Lease Liability 35.66 29.71
Trade Payables
Total outstanding dues of Micro enterprises and Small enterprises 20.87 29.64
Total outstanding dues of creditors other than Micro enterprises and Small 1497.30 1234.10
enterprises
Other Financial Liabilities 74.24 77.68
Other Current Liabilities 95.81 96.66
Provisions 56.82 62.74
Current Tax Liabilities (Net) 27.93 5.13
1848.13 1535.66
TOTAL EQUITY AND LIABILITIES 15592.54 14226.21
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, 2023
Rs. In Crores
Particulars March 31, 2023 March 31, 2022
A. Cash Flow from Operating Activities
Net Profit before Tax 1267.37 1151.09
Adjusted for :
Depreciation and Amortisation 145.90 141.75
Finance Cost 29.36 29.78
Dividend Income (51.32) (145.97)
Profit on sale of Current Investments (net) (19.18) (7.39)
Fair value movement in Financial instruments at fair value through profit and 3.96 (13.49)
loss
Interest Income (90.51) (71.95)
Unrealised foreign exchange (gain) / loss (0.16) (0.03)
Share based payment to employees 3.66 0.46
(Profit) / Loss on sale of Property, Plant & Equipment (net) (1.70) 3.27
Exceptional Items 39.08 27.23
Operating Profit before working capital changes 1326.46 1114.75
Adjustments for:
Trade Receivables & Other Assets (149.26) (60.59)
Inventories (128.66) 136.43
Trade payables & Other Liabilities 216.45 110.83
Cash generated from Operations 1264.99 1301.42
Direct Taxes paid (net) (245.72) (143.10)
Net Cash from/(used in) Operating Activities 1019.27 1158.32
B. Cash Flow from Investing Activities
Payment for Property, Plant and Equipment and Intangibles (85.99) (93.25)
Sale of Property, Plant and Equipment 3.62 4.40
Sale of Non Current Investments carried at Fair value through OCI 3.80 1.05
Acquisition of Subsidiaries - (465.00)
Investment in Joint Venture (100.00) (86.00)
Investment in Associate (50.00) (150.00)
Investment in Subsidiaries (90.39) (45.13)
Dividend Income received 51.32 145.97
Interest Income received 81.11 64.35
(Purchase) / Sale of Current Investments (net) (379.13) 138.22
Purchase of Government securities (96.14) -
Fixed Deposits Placed (1278.04) (1557.40)
Fixed Deposits Redeemed 1209.00 1526.48
Inter Corporate Deposits and Loans Placed (1004.00) (728.75)
Inter Corporate Deposits and Loans Redeemed 1133.50 180.75
Net cash from / (used in) Investing Activities (601.34) (1064.31)
C. Cash Flow from Financing Activities
Proceeds from / (Repayment of) Short term borrowings (net) 39.50 -
Payment of Lease Liabilities (30.05) (31.21)
Dividend paid (557.54) (373.23)
Finance Cost paid (19.71) (20.33)
Refund of Dividend Distribution Tax paid in an earlier year - 13.42
Net Cash from / (used in) Financing Activities (567.80) (411.35)
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) (149.87) (317.34)
Opening balance of Cash & Cash equivalent 327.40 644.74
Closing Cash & Cash Equivalent 177.53 327.40
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