REG - Tata Consumer Prod. - Half-year Result

Tata Consumer ProductsAnnouncement

19/11/2020 09:15

RNS Number : 8631F
  
Tata Consumer Products Limited
  
19 November 2020
  
 

 
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, 2020
                 Rs. In Crores



Particulars


Three months ended


Year to date ended


Year ended




September 30,  2020


June 30,

 2020


September 30,  2019*


September 30,  2020


September 30,  2019*


March 31,

 2020




Unaudited


Unaudited


Unaudited


Unaudited


Unaudited


Audited 




Revenue from Operations


2781.34 


2713.91 


2347.07 


5495.25 


4739.43 


9637.42 




 Other Income


26.22 


32.71 


28.03 


58.93 


61.12 


111.59 




 Total Income


2807.56 


2746.62 


2375.10 


5554.18 


4800.55 


9749.01 




 Cost of Materials Consumed


1208.11 


1013.85 


907.68 


2221.96 


1786.89 


3606.66 




 Purchase of stock in trade


518.98 


533.32 


436.46 


1052.30 


846.37 


1796.24 




 Changes in inventories of finished goods, work in progress and stock in trade


(80.94)


(46.55)


(18.14)


(127.49)


57.65 


7.78 




 Employee Benefits Expense


229.73 


229.05 


220.05 


458.78 


433.81 


884.80 




 Finance Costs


17.87 


17.28 


20.41 


35.15 


39.04 


77.86 




 Depreciation and Amortisation Expense


62.57 


61.90 


58.66 


124.47 


116.23 


241.71 




 Advertisement and Sales charges


166.38 


133.76 


162.68 


300.14 


293.96 


676.72 




 Other Expenses


339.50 


367.83 


323.55 


707.33 


655.09 


1373.07 




 Total Expenses


2462.20 


2310.44 


2111.35 


4772.64 


4229.04 


8664.84 




 Profit before Exceptional Items and Tax


345.36 


436.18 


263.75 


781.54 


571.51 


1084.17 




 Exceptional Items (Net)


(23.90)


               63.31 


(1.50)


39.41 


(9.56)


(274.79)




 Profit before Tax


321.46 


499.49 


262.25 


820.95 


561.95 


809.38 




 Tax Expense




























 Current tax


(25.18)


(27.10)


(18.97)


(52.28)


(37.24)


(89.05)




 Deferred tax


(61.95)


(83.30)


(44.63)


(145.25)


(128.54)


(185.14)




 Total Tax Expense (Net)


(87.13)


(110.40)


(63.60)


(197.53)


(165.78)


(274.19)




 Net Profit after Tax


234.33 


389.09 


198.65 


623.42 


396.17 


535.19 




 Share of net profit/(loss) in Associates and Joint Ventures using equity method


38.85 


(43.54)


9.24 


(4.69)


1.81 


(75.08)




 Group Consolidated Net Profit (A)


273.18 


345.55 


207.89 


618.73 


397.98 


460.11 




 Attributable to :




























 Owners of the Parent


257.06 


327.56 


193.16 


584.62 


366.90 


459.76 




 Non Controlling Interest


16.12 


17.99 


14.73 


34.11 


31.08 


0.35 




 Other Comprehensive Income




























 i) Items that will not be reclassified to profit or loss




























 Remeasurement of the defined benefit plans


(7.18)


(61.73)


20.75 


(68.91)


16.89 


31.18 




 Changes in fair valuation of equity instruments


1.07 


1.60 


(4.25)


2.67 


(0.21)


12.50 




 
 


(6.11)


(60.13)


16.50 


(66.24)


16.68 


43.68 




Tax impact on above items


0.72 


7.14 


(4.78)


7.86 


(2.17)


(3.31)




 
 


(5.39)


(52.99)


11.72 


(58.38)


14.51 


40.37 




ii) Items that will be reclassified to profit or loss




























Exchange differences on translation of foreign operations


29.91 


(10.22)


30.88 


19.69 


(59.73)


225.69 




Gains/(loss) on Effective portion of cash flow hedges


30.84 


(38.27)


(24.06)


(7.43)


(1.14)


13.48 




  


60.75 


(48.49)


6.82 


12.26 


(60.87)


239.17 




Tax impact on above items


(6.60)


8.25 


4.63 


1.65 


(1.04)


1.94 




  


54.15 


(40.24)


11.45 


13.91 


(61.91)


241.11 




Total Other Comprehensive Income (B)


48.76 


(93.23)


23.17 


(44.47)


(47.40)


281.48 




 Attributable to :




























 Owners of the Parent


42.21 


(80.85)


21.40 


(38.64)


(36.40)


233.89 




 Non Controlling Interest


6.55 


(12.38)


1.77 


(5.83)


(11.00)


47.59 




 Total Comprehensive Income (A+B)


321.94 


252.32 


231.06 


574.26 


350.58 


741.59 




 Attributable to :




























 Owners of the Parent


299.27 


246.71 


214.56 


545.98 


330.50 


693.65 




 Non Controlling Interest


22.67 


5.61 


16.50 


28.28 


20.08 


47.94 




 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






















13700.84 




 Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs


2.79 


3.55 


2.10 


6.34 


3.98 


4.99 



* Restated (Refer Note 6)




Notes:
 
1.      For the quarter, Revenue from operations increased by 19% (16% in constant currency) as compared to corresponding quarter of the previous year led by volume and value growth in both branded and non-branded business. Profit before exceptional items and tax at Rs 345 Crores is higher by 31% as compared to corresponding quarter of the previous year, mainly on account of growth in revenue, and control over expenditure partly offset by higher commodity costs in India. Group Consolidated Net Profit is higher by 31% benefitting from higher shares of profits in Associates & Joint Ventures partly offset by exceptional costs.
2.      In the current COVID environment, the Group's business segments in out of home consumption continues to be adversely impacted although there is an improving trend (including operations of the Group's joint venture Tata Starbucks). There can be future business uncertainties depending on developments in relation to the pandemic which would include supply constraints and commodity cost volatility.
3.      Exceptional item for the current quarter represent 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. Exceptional items for the corresponding quarter of the previous year represent costs relating to scheme of merger.
4.      The Indian Parliament has approved the Code on Social Security, 2020. Pending notification of the effective date and the relevant rules, the financial impact has not been quantified.
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.      Figures of the quarter and year to date ended September 30, 2019 as reported have been restated consequent to the demerger and transfer of Consumer Product Business (foods business) of Tata Chemicals Limited with the Company as the 'Appointed date' of the Scheme was April 1, 2019.
7.      The Consolidated Statement of Assets and Liabilities as at September 30, 2020 and Consolidated Cash Flow Statement for the period ended September 30, 2020 is annexed.
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 November 05, 2020 and subsequently taken on record by the Board of Directors at its Meeting held on November 06, 2020. The Statutory Auditors of the Company have conducted limited review on these results. 
10.   The Consolidated and Standalone result for the quarter and six months ended September 30, 2020 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: November 6, 2020
 




 
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, 2020
                 Rs. In Crores



Particulars


Three months ended


Year to date ended


Year ended




September 30, 2020


June 30,

2020


September 30, 2019*


September 30, 2020


September 30, 2019*


March 31,

2020




Unaudited


Unaudited


Unaudited


Unaudited


Unaudited


Audited




Segment Revenue




























Branded Business




























India - Beverages


1120.00 


1000.46 


847.57 


2120.46 


1748.94 


3376.89 




India - Foods


580.31 


589.06 


           513.02 


1169.37 


1008.24 


2063.74 




International - Beverages


800.50 


867.38 


745.71 


1667.88 


1499.99 


3226.04 




Total Branded Business


2500.81 


2456.90 


2106.30 


4957.71 


4257.17 


8666.67 




Non Branded Business


287.64 


264.42 


242.23 


552.06 


485.15 


974.94 




Total Segment Revenue


2788.45 


2721.32 


2348.53 


5509.77 


4742.32 


9641.61 




Others


3.24 


1.07 


5.97 


4.31 


12.01 


26.63 




Less: Inter segment Sales


(10.35)


(8.48)


(7.43)


(18.83)


(14.90)


(30.82)




Revenue from Operations


2781.34 


2713.91 


2347.07 


5495.25 


4739.43 


9637.42 




Segment Results




























Branded Business 




























India - Beverages


149.33 


215.30 


112.40 


364.63 


250.43 


465.14 




India - Foods


92.95 


114.56 


             68.48 


207.51 


           142.97 


             266.45 




International - Beverages


100.72 


125.49 


74.01 


226.21 


153.25 


360.76 




Total Branded Business


343.00 


455.35 


254.89 


798.35 


546.65 


1092.35 




Non Branded Business


18.11 


13.95 


16.35 


32.06 


38.30 


55.65 




Total Segment Results


361.11 


469.30 


271.24 


830.41 


584.95 


1148.00 




Add/(Less)




























Other Income


23.97 


29.29 


25.25 


53.26 


55.28 


93.35 




Finance Cost


(17.87)


(17.28)


(20.41)


(35.15)


(39.04)


(77.86)




Unallocable items


(21.85)


(45.13)


(12.33)


(66.98)


(29.68)


(79.32)




Exceptional Items


(23.90)


63.31 


(1.50)


39.41 


(9.56)


(274.79)




Profit Before Tax


321.46 


499.49 


262.25 


820.95 


561.95 


809.38 




Segment Assets




























Branded Business 




























India - Beverages


2478.25 


1543.00 


1697.68 


2478.25 


1697.68 


1554.03 




India - Foods


6188.80 


6204.81 


        6,251.61 


6188.80 


6251.61 


           6,231.66 




International - Beverages


5304.98 


5355.44 


5305.35 


5304.98 


5305.35 


5352.99 




Total Branded Business


13972.03 


13103.25 


13254.64 


13972.03 


13254.64 


13138.68 




Non Branded Business


1515.36 


1575.68 


1540.06 


1515.36 


1540.06 


1599.93 




Total Segment Assets


15487.39 


14678.93 


14794.70 


15487.39 


14794.70 


14738.61 




Unallocable Corporate Assets


3916.82 


4308.73 


3049.37 


3916.82 


3049.37 


3763.99 




Total Assets


19404.21 


18987.66 


17844.07 


19404.21 


17844.07 


18502.60 




Segment Liabilities




























 Branded Business 




























India - Beverages


1036.99 


715.00 


570.10 


1036.99 


570.10 


538.32 




India - Foods


284.15 


243.15 


          164.91 


284.15 


           164.91 


             240.72 




International - Beverages


711.69 


754.15 


695.64 


711.69 


695.64 


759.99 




Total Branded Business


2032.83 


1712.30 


1430.65 


2032.83 


1430.65 


1539.03 




Non Branded Business


178.36 


158.34 


161.33 


178.36 


161.33 


186.98 




Total Segment Liabilities


2211.19 


1870.64 


1591.98 


2211.19 


1591.98 


1726.01 




Unallocable Corporate Liabilities


1972.15 


1976.10 


1727.42 


1972.15 


1727.42 


1869.26 




Total Liabilities


4183.34 


3846.74 


3319.40 


4183.34 


3319.40 


3595.27 



* Restated (Refer Note 6)
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 Beverages. 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 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 Beverages : 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, 2020
                 Rs. In Crores







As at

September 30, 2020


As at

March 31,

2020








Unaudited


Audited




ASSETS












Non-Current Assets












Property Plant and Equipment


1179.02 


1207.50 




Capital Work in Progress


80.42 


87.56 




Investment Property


49.59 


50.04 




Right of Use Assets


279.66 


293.46 




Goodwill


7426.80 


7333.83 




Other Intangible Assets


2745.04 


2771.21 




Intangible Assets under Development


9.11 


7.79 




Investments accounted for using Equity method


307.01 


228.19 




Financial Assets












Investments


268.19 


261.11 




Loans


22.99 


22.50 




Other Financial Assets


34.37 


32.17 




Deferred Tax Assets (Net)


28.87 


29.56 




Non-current Tax Assets (net)


134.48 


146.06 




Other Non Current Assets


361.02 


349.56 








12926.57 


12820.54 




Current Assets












Inventories


2574.73 


1712.03 




Financial Assets












Investments


233.86 


833.55 




Trade Receivables


750.74 


922.41 




Cash and Cash Equivalent


1418.27 


1121.67 




Other Bank balances


862.92 


499.79 




Loans


144.76 


116.54 




Other Financial Assets


117.18 


173.24 




Current Tax Assets (net)


4.13 


1.17 




Other Current Assets


371.05 


301.66 








6477.64 


5682.06 




TOTAL ASSETS


19404.21 


18502.60 




EQUITY AND LIABILITIES












Equity












Equity Share Capital


92.16 


92.16 




Other Equity


14019.89 


13722.70 




Equity attributable to the equity holders of the company


14112.05 


13814.86 




Non Controlling Interest


1108.82 


1092.47 




Total Equity


15220.87 


14907.33 




Non-Current Liabilities












Financial Liabilities












Borrowings


728.16 


794.67 




Lease Liability


286.62 


291.96 




Other Financial Liabilities


11.49 


13.93 




Provisions


197.86 


183.22 




Deferred Tax Liabilities (Net)


458.72 


316.03 




Non Current Tax Liabilities


16.39 


16.86 








1699.24 


1616.67 




Current Liabilities












Financial Liabilities












Borrowings


411.97 


387.81 




Lease Liability


34.31 


37.97 




Trade Payables


1431.23 


943.99 




Other Financial Liabilities


370.95 


382.55 




Other Current Liabilities


114.73 


100.25 




Provisions


88.72 


92.41 




Current Tax Liabilities (net)


32.19 


33.62 








2484.10 


1978.60 




TOTAL EQUITY AND LIABILITIES


19404.21 


18502.60 



 
 
 




 
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, 2020
                 Rs. In Crores







Particulars


September 30,

2020


September 30,

2019




A.


Cash Flow from Operating Activities
















Net Profit before Tax 


820.95


561.95








Adjusted  for  :
















Depreciation and Amortisation


124.47


116.23








Finance Cost


35.15


39.04








Dividend Income


(2.30)


(3.24)








Profit on sale of current investments (net)


(8.76)


(18.06)








Fair value movement in Financial instruments at fair value through profit or loss


(4.82)


(1.24)








Interest Income


(37.43)


(32.92)








Unrealised foreign exchange (gain) / loss


5.00


(1.83)








Impairment loss recognised in trade receivables


16.12


3.84








Other non operating income


-


(1.83)








(Profit) / Loss on sale of Property, Plant & Equipment including Investment property (net)


0.23


0.03








Rental Income from Investment Property


(2.08)


(1.21)








Exceptional items - 
















Gain on conversion of a Joint Venture into a Subsidiary


(84.30)


-








Impairment of Asset


4.59


-








Other Exceptional Expenses


40.30


9.56








Operating Profit before working capital changes


907.12


670.32








Adjustments for:
















Trade Receivables & Other Assets


165.93


(347.28)








Inventories


(854.21)


3.81








Trade payables & Other Liabilities


359.39


(23.64)








Cash generated from /(used in) operations


578.23


303.21








Direct taxes paid (net)


(45.46)


(73.39)








Net Cash from /(used in) Operating Activities


532.77


229.82




B.


Cash Flow from Investing Activities
















Payment for  Property, Plant and Equipment including Intangibles assets


(63.12)


(59.17)








Sale of Property, Plant and Equipment


1.10


1.75








Rental Income from Investment Property


2.08


1.21








Purchase of Non-Current Investments


-


(0.16)








Acquisition of Business


-


(101.01)








Acquisition of a Subsidiary


(13.00)


-








Investments in Joint Ventures


(97.50)


(53.00)








(Purchase) / Sale of Current Investments (net)


608.92


321.27








(Placement) / Redemption Fixed deposits (net)


(363.89)


(288.00)








Inter Corporate Loans and Deposits (net)


(33.00)


86.04








Dividend Income received (including dividend from Associates & JVs)


5.04


4.73








Interest Income received


32.71


15.01








Net cash from /(used in) Investing Activities


79.34


(71.33)




C.


Cash Flow from Financing Activities
















Proceeds / (Repayment) from Long term borrowings (net)


(30.85)


(2.24)








Availment / (Repayment) of short term borrowings (net)


20.82


76.24








Payment of Lease Liabilities


(22.43)


(20.58)








Finance Cost paid


(32.36)


(35.04)








Dividend & Dividend Tax paid


(260.75)


(216.06)








Refund of Dividend Distribution Tax paid in an earlier year


9.07


-








Net Cash from / (used in) Financing Activities


(316.50)


(197.68)








Net increase / (decrease) in Cash and Cash Equivalents  (A+B+C)


295.61


(39.19)








Opening balance of Cash and Cash Equivalent


889.34


737.48








Cash and Cash equivalent on acquisition of a subsidiary


5.11


-








Exchange Gain/ (Loss) on translation of foreign currency Cash and Cash equivalents


(10.00)


(8.13)








Closing Cash and Cash Equivalent


1180.06


690.16








Reconciliation with Balance Sheet
















Cash and Cash Equivalents


1180.06


690.16








Add : Bank Overdraft


238.21


244.73








Balance at the end of the period


1418.27


934.89



 
 




 
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, 2020
                 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 




2020


2020


2019


2020


2019


2020




Unaudited


Unaudited


Unaudited


Unaudited


Unaudited


Audited




Revenue from Operations


1736.14


1605.43


1427.16


3341.57


2891.20


5690.24 




Other Income 


                  33.57 


45.70


35.30


79.27


76.24


          117.75 




Total Income 


1769.71


1651.13


1462.46


3420.84


2967.44 


5807.99 




Cost of materials consumed


   863.14 


603.91


                 597.60 


1467.05


1176.47


2305.02




Purchase of stock-in-trade


               353.86 


340.15


                 274.94 


694.01 


                 527.23 


1123.86




Changes in inventories of finished goods, work-in-progress & stock-in-trade


              (87.74)


               5.62 


                   (0.10)


   (82.12)


                   81.06 


           44.36 




Employees benefits expense


                  77.45 


71.77


                   78.80 


             149.22 


                 146.69 


          283.44 




Finance costs


                    6.46 


6.53


                    5.90 


               12.99 


                   11.78 


           25.73 




Depreciation and amortisation expense


                  30.84 


29.59


                   27.17 


               60.43 


                   52.42 


          114.82 




Advertisement and sales charges


                  90.04 


56.49


                   96.65 


             146.53 


                 169.30 


          384.91 




Other expenses


               185.66 


201.81


                 175.48 


             387.47 


                 353.70 


          744.63 




Total Expenses


            1,519.71 


1315.87


1256.44


2835.58


2518.65 


5026.77 




Profit before Exceptional Items and Tax


               250.00 


335.26


206.02


585.26


                 448.79 


          781.22 




Exceptional Items (Net)


              (19.30)


           (21.00)


                   (1.50)


            (40.30)


                   (9.56)


         (51.81)




Profit before Tax


230.70 


           314.26 


                 204.52 


            544.96 


                 439.23 


         729.41 




Tax Expense 




























Current Tax


                 (1.83)


            (1.13)


                   (0.08)


              (2.96)


                   (0.08)


             0.61 




Deferred Tax


              (59.48)


           (80.82)


                 (49.31)


          (140.30)


               (129.53)


       (206.48)


































Total Tax Expense ( net of reversals)


              (61.31)


          (81.95)


                (49.39)


         (143.26)


               (129.61)


       (205.87)




Net Profit after Tax (A)


               169.39 


           232.31 


                 155.13 


             401.70 


                 309.62 


          523.54 




Other Comprehensive Income




























i) Items that will not be reclassified to profit or loss 




























Remeasurement of defined benefit plans


                    2.81 


           (14.43)


                   (5.47)


            (11.62)


                 (16.06)


         (28.18)




Changes in fair valuation of equity instruments 


                    1.07 


               1.60 


                   (3.69)


                 2.67 


                   (0.21)


             9.84 








                    3.88 


           (12.83)


                   (9.16)


              (8.95)


                 (16.27)


         (18.34)




Tax impact of above items


                 (0.69)


               3.63 


                   (0.31)


                 2.94 


                    3.39 


             7.47 








                    3.19 


            (9.20)


                   (9.47)


              (6.01)


                 (12.88)


         (10.87)




ii) Items that will be reclassified to profit or loss 




























    Gains/(loss) on effective portion of cash flow hedges


                    2.67 


            (0.84)


                   (2.78)


                 1.83 


                   (2.66)


           (6.53)




Tax impact of above item


                 (0.67)


               0.21 


                    0.92 


              (0.46)


                    0.88 


             2.13 








                    2.00 


            (0.63)


                   (1.86)


                 1.37 


                   (1.78)


           (4.40)




Other Comprehensive Income (Net of tax) (B) 


                    5.19 


            (9.83)


                 (11.33)


              (4.64)


                 (14.66)


         (15.27)




Total Comprehensive Income (A+B)


               174.58 


           222.48 


                 143.80 


             397.06 


                 294.96 


          508.27 




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






















10735.99




Earnings per share (Basic & Diluted) (not annualised for the quarter and year to date end) - Rs. 


                    1.84 


                 2.52 


                    1.68 


                    4.36 


                    3.36 


           5.68 



*Restated (Refer Note 6)




Notes:
 
1.    For the quarter, Revenue from operations at Rs 1736 crores increased by 22% over corresponding quarter of the previous year driven by growth in volume and value realisation in both branded beverages and food business. Profit before exceptional items at Rs 250 crores is higher by 21% as compared to corresponding quarter of previous year mainly on account of growth in revenue and control over expenditures partly offset by higher commodity costs. Profit after tax is also higher than corresponding quarter of previous year.
2.    The Company's sales remain unaffected by the current COVID environment. However, there can be future business uncertainties depending on developments in relation to the pandemic which would include supply constraints and commodity cost volatility.
3.    Exceptional item for the current quarter represent costs relating to the business integration of foods business of Rs 10 crores and redundancy costs of Rs 9 crores. Exceptional costs for the corresponding quarter of previous year represents costs relating to scheme of merger
4.    The Indian Parliament has approved the Code on Social Security, 2020. Pending notification of the effective date and the relevant rules, the financial impact has not been quantified. 
5.    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.
6.    Figures of the quarter and year to date ended Sep 30, 2019 as reported has been restated consequent to the demerger and transfer of Consumer Product Business (foods business) of Tata Chemicals Limited with the Company as the 'Appointed date' of the Scheme was April 1, 2019.
7.    Statement of Assets and Liabilities as at September 30, 2020 along with Cash flow statement for the period ended September 30, 2020 is annexed.
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 November 5, 2020 and subsequently taken on record by the Board of Directors at its meeting held on November 6, 2020. The Statutory Auditors of the Company have conducted limited review on these results.
 
 
 



 
 
 
 
 
Mumbai: November 6, 2020


 
 
                Sunil D'Souza
Managing Director and CEO



 




 
 
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, 2020
                 Rs. In Crores







September 30 2020


March 31 2020








Unaudited


Audited




ASSETS












Non-Current Assets












Property, Plant and Equipment


           225.28 


225.32 




Capital work-in-progress


             18.63 


22.16 




Right of Use Assets


           123.72 


          124.88 




Goodwill


3578.51


3578.51




Other Intangible Assets


2516.05


2523.83 




Intangible Assets under development


               6.77 


5.99 




Financial Assets












Investments


2442.44 


2324.91 




Loans


             22.83 


22.35 




Other Financial Assets


             27.68 


24.68 




Non-Current Tax Assets (Net)


           120.55 


123.06 




Other Non-Current Assets


             94.04 


87.64 








9176.50 


9063.33




Current assets












Inventories


        1,682.05 


919.95 




Financial Assets












Investments


           193.75 


724.51 




Trade Receivables


           291.47 


314.17 




Cash and Cash Equivalents


           362.00 


243.24 




Other Bank Balances


           860.44 


494.53 




Loans


               2.69 


0.66 




Other Financial Assets


             40.24 


75.20 




Other Current Assets 


           264.98 


214.84 








3697.62 


2987.10 




TOTAL ASSETS


12874.12 


12050.43 




EQUITY AND LIABILITIES












Equity












Equity Share Capital


             92.16 


92.16 




Other Equity


10906.09 


10757.85 




TOTAL EQUITY


10998.25 


10850.01 




Non-Current Liabilities












Financial Liabilities












Lease Liability


           120.37 


          121.82 




Provisions


154.14 


          137.52 




Deferred Tax Liabilities


287.04 


          149.22 








561.55 


408.56 




Current Liabilities












Financial Liabilities












Borrowings


39.50 


            35.00 




Lease Liability


25.60 


            23.69 




Trade Payables












Total outstanding dues of Micro enterprises

 and Small enterprises


5.89 


              4.31 




Total outstanding dues of creditors other

than Micro enterprises and Small enterprises


969.58 


          442.73 




Other Financial Liabilities


             98.81 


          120.11 




Other Current Liabilities


             85.61 


            75.91 




Provisions


73.18 


            73.96 




Current Tax Liabilities (Net)


16.15 


            16.15 








1314.32 


791.86 




TOTAL EQUITY AND LIABILITIES


12874.12 


12050.43 



 




 
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, 2020
                 Rs. In Crores







Particulars


 September

2020


 September

2019




A.


Cash  Flow  from  Operating  Activities
















Net Profit before Tax 


544.96


439.23








Adjusted  for  :
















Depreciation and Amortisation


60.43


52.42








Finance Cost


12.99


11.78








Dividend Income


(38.14)


(32.89)








Profit on sale of current investments (net)


(8.16)


(17.26)








Fair value movement in Financial instruments at fair value through profit and loss


(4.35)


(0.41)








Interest Income


(28.56)


(23.22)








Unrealised Foreign Exchange (Gain) / Loss


0.54


(0.02)








Impairment loss recognised in trade receivables


15.80


3.71








(Profit) / Loss on sale of Property, Plant & Equipment (net)


0.23


0.01








Other Exceptional Expense / (Income) (net)


40.30


9.56








Operating Profit before working capital changes


596.04


442.91








Adjustments for:
















Trade Receivables & Other Assets


(4.52)


(354.45)








Inventories


(762.01)


22.38








Trade payables & Other Liabilities


473.79


34.63








Cash generated from Operations


303.30


145.47








Direct Taxes paid (net) 


(0.45)


(35.45)








Net  Cash  from/(used in)  Operating  Activities


302.85


110.02




B.


Cash  Flow  from  Investing  Activities
















Payment for  Property, Plant and Equipment and Intangibles


(41.45)


(9.83)








Sale of Property, Plant and Equipment


0.03


0.01








Acquisition of Business


-


(101.01)








Acquisition of a Subsidiary


(13.00)


-








Investment in Joint Ventures


(97.50)


(53.00)








(Purchase) / Sale of Current Investments (net)


538.92


300.98








(Placement) / Redemption Fixed deposits (net)


(366.77)


(288.00)








Inter Corporate Deposits and Loans (net)


(3.00)


1.75








Dividend Income received


38.14


32.89








Interest Income received


26.70


12.80








Net  cash from / (used in) Investing  Activities


82.07


(103.41)




C.


Cash  Flow  from  Financing  Activities
















Availment / (Repayment) of short term borrowings (net)


4.50


35.88








Payment of Lease Liabilities


(13.41)


(12.56)








Finance Cost paid


(8.43)


(7.42)








Dividend & Dividend Tax paid


(248.82)


(186.90)








Net Cash from / (used in) Financing  Activities


(266.16)


(171.00)








Net increase / (decrease) in  Cash and Cash Equivalents  (A+B+C)


118.76


(164.39)








Opening balance of Cash & Cash equivalent


243.24


404.43








Closing Cash & Cash Equivalent


362.00


240.04



 

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