REG - Tata Consumer Prod. - Half-year Report
26/10/2022 09:00
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RNS Number : 1654E Tata Consumer Products Limited 26 October 2022
Tata Consumer Products 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, 2022
Rs. In Crores
Particulars Three months ended Year to date ended Year ended
September 30, 2022 June 30, September 30, 2021 September 30, 2022 September 30, 2021 March 31,
2022
2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Revenue from Operations 3363.05 3326.83 3033.12 6689.88 6041.58 12425.37
Other Income 29.31 35.34 39.62 64.65 67.63 140.06
Total Income 3392.36 3362.17 3072.74 6754.53 6109.21 12565.43
Cost of Materials Consumed 1327.27 1360.48 1232.02 2687.75 2545.66 4908.36
Purchase of stock in trade 677.49 693.47 485.15 1370.96 1027.83 2215.39
Changes in inventories of finished goods, work in progress and stock in (45.55) (144.87) 19.12 (190.42) (54.79) (39.78)
trade
Employee Benefits Expense 273.83 277.44 255.64 551.27 521.05 1048.00
Finance Costs 19.55 16.27 19.78 35.82 40.21 72.78
Depreciation and Amortisation Expense 73.14 72.92 69.31 146.06 136.10 278.01
Advertisement and Sales charges 216.90 211.60 211.88 428.50 370.09 840.99
Other Expenses 479.27 471.41 416.01 950.68 818.95 1733.63
Total Expenses 3021.90 2958.72 2708.91 5980.62 5405.10 11057.38
Profit before Exceptional Items and Tax 370.46 403.45 363.83 773.91 704.11 1508.05
Exceptional Items (Net) 111.22 (23.97) (16.31) 87.25 (20.23) (52.06)
Profit before Tax 481.68 379.48 347.52 861.16 683.88 1455.99
Tax Expense
Current tax (108.79) (82.65) (50.03) (191.44) (111.19) (220.24)
Deferred tax (17.91) (20.32) (36.10) (38.23) (70.65) (156.80)
Total Tax Expense (Net) (126.70) (102.97) (86.13) (229.67) (181.84) (377.04)
Net Profit after Tax 354.98 276.51 261.39 631.49 502.04 1078.95
Share of net profit/(loss) in Associates and Joint Ventures using equity 34.45 0.21 24.41 34.66 (16.00) (63.79)
method
Group Consolidated Net Profit (A) 389.43 276.72 285.80 666.15 486.04 1015.16
Attributable to :
Owners of the Parent 327.96 255.46 268.04 583.42 453.19 935.78
Non Controlling Interest 61.47 21.26 17.76 82.73 32.85 79.38
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of the defined benefit plans (50.79) (3.26) (37.26) (54.05) (38.65) 55.91
Changes in fair valuation of equity instruments 14.18 (0.25) 3.48 13.93 4.87 4.67
(36.61) (3.51) (33.78) (40.12) (33.78) 60.58
Tax impact on above items 9.71 0.28 5.81 9.99 (6.44) (25.61)
(26.90) (3.23) (27.97) (30.13) (40.22) 34.97
ii) Items that will be reclassified to profit or loss
Exchange differences on translation of foreign operations (188.33) (76.78) (141.78) (265.11) (18.75) 12.74
Gains/(loss) on Effective portion of cash flow hedges (5.73) (9.74) 21.77 (15.47) 55.81 10.63
(194.06) (86.52) (120.01) (280.58) 37.06 23.37
Tax impact on above items (0.91) 3.65 (4.53) 2.74 (15.64) 0.90
(194.97) (82.87) (124.54) (277.84) 21.42 24.27
Total Other Comprehensive Income (B) (221.87) (86.10) (152.51) (307.97) (18.80) 59.24
Attributable to :
Owners of the Parent (198.12) (78.99) (134.54) (277.11) (22.12) 50.78
Non Controlling Interest (23.75) (7.11) (17.97) (30.86) 3.32 8.46
Total Comprehensive Income (A+B) 167.56 190.62 133.29 358.18 467.24 1074.40
Attributable to :
Owners of the Parent 129.84 176.47 133.50 306.31 431.07 986.56
Non Controlling Interest 37.72 14.15 (0.21) 51.87 36.17 87.84
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 15027.92
Earnings per share (not annualised for the quarter and year to dateended)
Basic - Rs 3.56 2.77 2.91 6.33 4.92 10.15
Diluted - Rs 3.56 2.77 2.91 6.33 4.92 10.15
Notes:
1. For the quarter, Revenue from operations increased by 11% (10% in
constant currency) as compared to corresponding quarter of the previous year,
mainly driven by underlying growth of 9% in India Business, 6% in
International Business and 30% in Non-Branded Business. Profit before
exceptional items and tax at Rs 370 Crores is 2% higher as compared to
corresponding quarter of the previous year reflecting the impact of
inflationary pressures, weakness in currency and some lag in pricing. Group
Consolidated Net Profit at Rs 389 Crores is higher by 36% mainly aided by
exceptional income and improved performance of Joint ventures and Associates.
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 six
months ended September 30, 2022.
3. Exceptional items for the current quarter mainly represent profit on
sale of land of Rs 147 Crores and costs relating to the business restructure
& reorganisation of Rs 35 Crores and cost relating to scheme of
arrangement of Rs 1 Crore. Exceptional item for the corresponding quarter of
the previous year represents costs relating to the business restructure and
redundancy of Rs 16 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 September
30, 2022 and Consolidated Cash Flow Statement for the period ended September
30, 2022 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 19, 2022 and subsequently taken on record by the Board of
Directors at its Meeting held on October 20, 2022. The Statutory Auditors of
the Company have conducted limited review on these results.
8. The Consolidated and Standalone results for the quarter and six months
ended September 30, 2022 are available on the BSE Limited's website (URL:
www.bseindia.com (http://www.bseindia.com) ), the National Stock Exchange of
India Limited's website (URL: www.nseindia.com (http://www.nseindia.com) ) and
on the Company's website (URL: www.tataconsumer.com
(http://www.tataconsumer.com) ).
Sunil D'Souza
Managing Director and CEO
Mumbai: October 20, 2022
Tata Consumer Products 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, 2022
Rs. In Crores
Particulars Three months ended Year to date ended Year ended
September 30, 2022 June 30, September 30, 2021 September 30, 2022 September 30, 2021 March 31,
2022
2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Segment Revenue
Branded Business
India Business 2159.95 2145.20 1978.08 4305.15 3949.84 7913.54
International Business 838.87 836.62 781.27 1675.49 1548.85 3335.66
Total Branded Business 2998.82 2981.82 2759.35 5980.64 5498.69 11249.20
Non Branded Business 371.80 351.70 279.91 723.50 557.55 1214.44
Total Segment Revenue 3370.62 3333.52 3039.26 6704.14 6056.24 12463.64
Others 13.71 7.41 6.28 21.12 9.01 13.78
Less: Inter segment Sales (21.28) (14.10) (12.42) (35.38) (23.67) (52.05)
Revenue from Operations 3363.05 3326.83 3033.12 6689.88 6041.58 12425.37
Segment Results
Branded Business
India Business 307.68 273.15 244.52 580.83 491.25 1011.67
International Business 59.71 104.46 109.69 164.17 205.69 478.37
Total Branded Business 367.39 377.61 354.21 745.00 696.94 1490.04
Non Branded Business 29.98 39.41 21.54 69.39 40.17 92.65
Total Segment Results 397.37 417.02 375.75 814.39 737.11 1582.69
Add/(Less)
Other Income 25.41 33.13 32.71 58.54 57.25 109.94
Finance Cost (19.55) (16.27) (19.78) (35.82) (40.21) (72.78)
Unallocable items (32.77) (30.43) (24.85) (63.20) (50.04) (111.80)
Exceptional Items 111.22 (23.97) (16.31) 87.25 (20.23) (52.06)
Profit Before Tax 481.68 379.48 347.52 861.16 683.88 1455.99
Segment Assets
Branded Business
India Business 9197.90 8631.72 8643.10 9197.90 8643.10 9099.75
International Business 5420.05 5410.88 5256.56 5420.05 5256.56 5384.58
Total Branded Business 14617.95 14042.60 13899.66 14617.95 13899.66 14484.33
Non Branded Business 1831.69 1796.75 1637.48 1831.69 1637.48 1752.27
Total Segment Assets 16449.64 15839.35 15537.14 16449.64 15537.14 16236.60
Unallocable Corporate Assets 4361.56 4428.12 4254.35 4361.56 4254.35 4880.99
Total Assets 20811.20 20267.47 19791.49 20811.20 19791.49 21117.59
Segment Liabilities
Branded Business
India Business 1692.93 1278.53 1490.28 1692.93 1490.28 1756.03
International Business 805.77 680.26 692.98 805.77 692.98 785.88
Total Branded Business 2498.70 1958.79 2183.26 2498.70 2183.26 2541.91
Non Branded Business 194.04 199.96 195.84 194.04 195.84 178.91
Total Segment Liabilities 2692.74 2158.75 2379.10 2692.74 2379.10 2720.82
Unallocable Corporate Liabilities 2041.66 2197.18 1716.85 2041.66 1716.85 2103.21
Total Liabilities 4734.40 4355.93 4095.95 4734.40 4095.95 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
Unaudited Consolidated Statement of Assets and Liabilities as at September 30,
2022
Rs. In Crores
As at September 30, 2022 As at March 31, 2022
Unaudited Audited
ASSETS
Non-Current Assets
Property Plant and Equipment 1512.41 1480.31
Capital Work in Progress 245.03 209.44
Investment Property 14.95 17.31
Investment Property under Development 214.78 214.78
Right of Use Assets 383.88 378.44
Goodwill 7687.34 7754.11
Other Intangible Assets 2754.45 2754.40
Intangible Assets under Development 8.01 37.53
Investments accounted for using Equity method 250.46 234.31
Financial Assets
Investments 427.22 364.94
Loans 14.98 14.01
Other Financial Assets 40.28 35.69
Deferred Tax Assets (Net) 42.15 42.72
Non-current Tax Assets (Net) 138.02 141.66
Other Non Current Assets 230.92 302.26
13964.88 13981.91
Current Assets
Inventories 2581.86 2266.51
Financial Assets
Investments 362.17 198.03
Trade Receivables 860.09 835.15
Cash and Cash Equivalent 1005.61 1497.97
Other Bank balances 738.89 1101.92
Loans 750.58 659.94
Other Financial Assets 151.38 184.30
Current Tax Assets (net) 15.98 1.33
Other Current Assets 379.76 390.53
6846.32 7135.68
TOTAL ASSETS 20811.20 21117.59
EQUITY AND LIABILITIES
Equity
Equity Share Capital 92.16 92.16
Other Equity 14797.29 15049.78
Equity attributable to the equity holders of the company 14889.45 15141.94
Non Controlling Interest 1187.35 1151.62
Total Equity 16076.80 16293.56
Non-Current Liabilities
Financial Liabilities
Borrowings 225.43 241.87
Lease Liability 356.73 350.91
Other Financial Liabilities 94.08 93.14
Provisions 174.11 175.59
Deferred Tax Liabilities (Net) 795.28 776.41
Non Current Tax Liabilities 12.46 13.49
1658.09 1651.41
Current Liabilities
Financial Liabilities
Borrowings 661.26 768.72
Lease Liability 51.00 50.51
Trade Payables 1889.84 1915.85
Other Financial Liabilities 216.30 211.78
Other Current Liabilities 115.99 132.15
Provisions 106.14 73.21
Current Tax Liabilities (net) 35.78 20.40
3076.31 3172.62
TOTAL EQUITY AND LIABILITIES 20811.20 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
Unaudited Consolidated Statement of Cash Flows for the six months ended
September 30, 2022
Rs. In Crores
Particulars September 30, September 30,
2022
2021
A. Cash Flow from Operating Activities
Net Profit before Tax 861.16 683.88
Adjusted for :
Depreciation and Amortisation 146.06 136.10
Finance Cost 35.82 40.21
Dividend Income (2.51) (2.54)
Profit on sale of current investments (net) (6.50) (5.01)
Fair value movement in Financial instruments at fair value through profit or 1.20 (4.41)
loss
Interest Income (50.79) (45.23)
Unrealised foreign exchange (gain) / loss (3.00) (0.47)
Impairment loss recognised in trade receivables & advances (net of 1.58 -
reversal)
Debts and advances written off 0.86 -
(Profit) / Loss on sale of Property, Plant & Equipment including 0.43 (2.07)
Investment property (net)
Rental Income from Investment Property (0.64) (1.24)
Exceptional items -
Profit on sale of Investment Property (147.04) -
Other Exceptional Items 59.79 20.23
Operating Profit before working capital changes 896.42 819.45
Adjustments for:
Trade Receivables & Other Assets (21.02) 16.77
Inventories (316.96) (32.38)
Trade payables & Other Liabilities (74.30) (130.99)
Cash generated from /(used in) operations 484.14 672.85
Direct taxes paid (net) (187.99) (130.03)
Net Cash from /(used in) Operating Activities 296.15 542.82
B. Cash Flow from Investing Activities
Payment for Property, Plant and Equipment including Intangibles assets (140.32) (88.75)
Sale of Property, Plant and Equipment / Investment Property 151.07 0.59
Rental Income from Investment Property 0.64 1.24
Sale of Non Current Investments carried at Fair value through OCI - 0.15
Investments in Joint Ventures - (61.00)
Investments in Associate (50.00) (150.00)
Dividend Income received (including dividend from Associates & JVs) 7.90 9.13
Interest Income received 41.52 34.83
(Purchase) / Sale of Current Investments (net) (157.69) 152.80
Fixed deposits Placed (719.81) (1158.02)
Fixed Deposits Redeemed 1085.25 843.50
Inter Corporate Deposits and Loans Placed (including FX) (756.67) (132.68)
Inter Corporate Deposits and Loans Redeemed (including FX) 562.75 81.75
Net cash from /(used in) Investing Activities 24.64 (466.46)
C. Cash Flow from Financing Activities
Proceeds from / (Repayment of) Long term borrowings (net) (32.89) (465.42)
Proceeds from / (Repayment of) Short term borrowings (net) 12.74 (0.73)
Payment of Lease Liabilities (27.14) (26.07)
Dividend paid (573.23) (398.45)
Finance Cost paid (28.42) (33.17)
Refund of Dividend Distribution Tax paid in an earlier year - 13.38
Net Cash from / (used in) Financing Activities (648.94) (910.46)
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) (328.15) (834.10)
Opening balance of Cash and Cash Equivalent 977.11 1773.18
Exchange Gain/ (Loss) on translation of foreign currency Cash and Cash (31.49) 6.89
equivalents
Closing Cash and Cash Equivalent 617.47 945.97
Reconciliation with Balance Sheet
Cash and Cash Equivalents 617.47 945.97
Add : Bank Overdraft 388.14 268.76
Balance at the end of the period 1005.61 1214.73
Tata Consumer Products 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, 2022
Rs. In Crores
Three months ended Year to date ended Year ended
Particulars
September 30 June 30 September 30 September 30 September 30 March 31
2022 2022 2021 2022 2021 2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Revenue from Operations 2130.78 2076.88 1987.50 4207.66 3953.39 7932.29
Other Income 24.09 53.90 31.05 77.99 177.28 238.96
Total Income 2154.87 2130.78 2018.55 4285.65 4130.67 8171.25
Cost of materials consumed 791.57 747.94 826.54 1539.51 1713.39 3195.72
Purchase of stock-in-trade 551.73 551.55 403.04 1103.28 819.98 1701.63
Changes in inventories of finished goods, work-in-progress & (49.10) (10.26) 19.05 (59.36) (1.06) 46.40
stock-in-trade
Employees benefits expense 95.65 97.86 88.87 193.51 177.23 348.41
Finance costs 7.30 7.14 7.65 14.44 15.31 29.78
Depreciation and amortisation expense 36.19 35.09 36.09 71.28 70.97 141.75
Advertisement and sales charges 144.27 127.48 132.90 271.75 219.04 511.25
Other expenses 260.62 255.48 248.39 516.10 482.18 1017.99
Total Expenses 1838.23 1812.28 1762.53 3650.51 3497.04 6992.93
Profit before Exceptional Items and Tax 316.64 318.50 256.02 635.14 633.63 1178.32
Exceptional Items (Net) (6.95) (11.10) (7.19) (18.05) (7.19) (27.23)
Profit before Tax 309.69 307.40 248.83 617.09 626.44 1151.09
Tax Expense
Current Tax (67.37) (61.82) (30.64) (129.19) (73.08) (130.09)
Deferred Tax (12.80) (12.75) (29.85) (25.55) (61.28) (135.25)
Total Tax Expense ( net of reversals) (80.17) (74.57) (60.49) (154.74) (134.36) (265.34)
Net Profit after Tax (A) 229.52 232.83 188.34 462.35 492.08 885.75
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans (0.22) 9.91 0.81 9.69 (3.93) 30.15
Changes in fair valuation of equity instruments 14.19 (0.26) 3.48 13.93 4.87 4.98
13.97 9.65 4.29 23.62 0.94 35.13
Tax impact of above items (1.56) (2.46) (1.05) (4.02) 0.14 (9.06)
12.41 7.19 3.24 19.60 1.08 26.07
ii) Items that will be reclassified to profit or loss
Gains/(loss) on effective portion of cash flow hedges (0.54) (0.22) 1.55 (0.76) 1.50 (1.65)
Tax impact of above item 0.13 0.06 (0.39) 0.19 (0.38) 0.41
(0.41) (0.16) 1.16 (0.57) 1.12 (1.24)
Other Comprehensive Income (Net of tax) (B) 12.00 7.03 4.40 19.03 2.20 24.83
Total Comprehensive Income (A+B) 241.52 239.86 192.74 481.38 494.28 910.58
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 11647.89
Earnings per Shares ( not annualised for the quarter and year to date ended)
Basic - Rs 2.49 2.53 2.04 5.02 5.34 9.61
Diluted - Rs 2.49 2.53 2.04 5.02 5.34 9.61
Notes:
1. For the quarter, Revenue from operations at Rs 2131 Crores
increased by 7% over corresponding quarter of the previous year driven by
growth in branded business. Profit before tax at Rs 310 Crores is higher by
24% as compared to corresponding quarter of previous year on account of
revenue growth and improved gross margin. Consequently, Profit after tax is
also higher 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 six
months ended September 30, 2022.
3. Exceptional items for the current quarter represent costs relating
to the business restructure and reorganisation of Rs 6 Crores and cost
pertaining to Scheme of arrangement of Rs 1 Crore.
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. Previous period's figures have been regrouped / rearranged, to the
extent necessary, to conform to current period's classifications.
6. The aforementioned results were reviewed by the Audit Committee of
the Board on October 19, 2022 and subsequently taken on record by the Board of
Directors at its meeting held on October 20, 2022. The Statutory Auditors of
the Company have conducted limited review on these results.
Sunil D'Souza
Managing Director and CEO
Mumbai: October 20, 2022
Tata Consumer Products 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, 2022
Rs. In Crores
September 30 2022 March 31 2022
Unaudited Audited
ASSETS
Non-Current Assets
Property, Plant and Equipment 293.56 296.93
Capital work-in-progress 4.39 2.58
Right of Use Assets 209.82 210.97
Goodwill 3578.51 3578.51
Other Intangible Assets 2483.30 2477.64
Intangible Assets under development 7.54 37.18
Financial Assets
Investments 3519.02 3368.76
Loans 14.77 13.80
Other Financial Assets 108.47 104.44
Non-Current Tax Assets (Net) 119.20 121.97
Other Non-Current Assets 89.91 86.27
10428.49 10299.05
Current assets
Inventories 1412.42 1271.94
Financial Assets
Investments 253.73 156.94
Trade Receivables 379.98 281.76
Cash and Cash Equivalents 117.86 327.40
Other Bank Balances 630.82 1001.21
Loans 620.72 559.70
Other Financial Assets 39.58 48.75
Other Current Assets 266.08 279.46
3721.19 3927.16
TOTAL ASSETS 14149.68 14226.21
EQUITY AND LIABILITIES
Equity
Equity Share Capital 92.16 92.16
Other Equity 11595.35 11669.75
TOTAL EQUITY 11687.51 11761.91
Non-Current Liabilities
Financial Liabilities
Lease Liability 205.38 205.19
Other Financial Liabilities 80.38 76.91
Provisions 132.67 135.32
Deferred Tax Liabilities 540.60 511.22
959.03 928.64
Current Liabilities
Financial Liabilities
Lease Liability 31.25 29.71
Trade Payables
Total outstanding dues of Micro enterprises 25.25 29.64
and Small enterprises
Total outstanding dues of creditors other 1251.47 1234.10
than Micro enterprises and Small enterprises
Other Financial Liabilities 55.59 77.68
Other Current Liabilities 71.50 96.66
Provisions 62.95 62.74
Current Tax Liabilities (Net) 5.13 5.13
1503.14 1535.66
TOTAL EQUITY AND LIABILITIES 14149.68 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
Unaudited Standalone Statement of Cash Flows for the six months ended
September 30, 2022
Rs. In Crores
Particulars September 30, September 30,
2022
2021
A. Cash Flow from Operating Activities
Net Profit before Tax 617.09 626.44
Adjusted for :
Depreciation and Amortisation 71.28 70.97
Dividend Income (34.84) (130.80)
Unrealised Exchange (Gain) / Loss (0.62) (0.08)
Finance Cost 14.44 15.31
Fair value movement in Financial instruments at fair value through profit and 1.19 (4.41)
loss
Interest Income (38.91) (37.80)
Profit on sale of current investments (net) (5.40) (4.14)
Impairment loss recognised in trade receivables & advances (net of 1.37 -
reversal)
(Profit) / Loss on sale of Property, Plant & Equipment including 0.08 0.51
Investment Property (net)
Exceptional Items 18.05 7.19
Operating Profit before working capital changes 643.73 543.19
Adjustments for:
Trade Receivables & Other Assets (80.60) (20.76)
Inventories (140.48) 78.70
Trade payables & Other Liabilities (47.75) (111.69)
Cash generated from Operations 374.90 489.44
Direct Taxes paid (net) (126.42) (76.22)
Net Cash from/(used in) Operating Activities 248.48 413.22
B. Cash Flow from Investing Activities
Payment for Property, Plant and Equipment and Intangibles (31.80) (41.29)
Sale of Property, Plant and Equipment 0.27 0.33
Investment in Associate (50.00) (150.00)
Acquisition of a Joint Ventures - (61.00)
Investment in Subsidiary (87.52) -
Dividend Income received 34.84 130.80
Interest Income received 38.57 29.47
(Purchase) / Sale of Current Investments (net) (91.39) 153.64
Fixed deposits Placed (584.07) (981.99)
Fixed Deposits Redeemed 957.01 675.69
Inter Corporate Deposits and Loans Placed (619.00) (85.00)
Inter Corporate Deposits and Loans Redeemed 557.50 1.75
Net cash from / (used in) Investing Activities 124.41 (327.60)
C. Cash Flow from Financing Activities
Payment of Lease Liabilities (15.05) (15.52)
Dividend paid (557.54) (373.23)
Finance Cost paid (9.84) (10.58)
Refund of Dividend Distribution Tax paid in an earlier year - 13.38
Net Cash from / (used in) Financing Activities (582.43) (385.95)
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) (209.54) (300.33)
Opening balance of Cash & Cash equivalent 327.40 644.74
Closing Cash & Cash Equivalent 117.86 344.41
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