TATACONSUM — Tata Consumer Products News Story

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Tata Global Bev.. - Half Yearly Report

Tata Consumer Products

06/11/2014 07:00

RNS Number : 2922W

Tata Global Beverages Limited.

06 November 2014

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Audited Financial Results

for three months ended September 30, 2014

 Rs. In Lakhs

Particulars Three Months Ended Year to date ended Year Ended
Sep 30
2014 Jun 30
2014 Sep 30
2013 Sep 30
2014 Sep 30
2013 Mar 31 2014
Net Sales / Income from Operations (Net of excise duty) 68190 70753 63452 138943 130117 260990
Other Operating Income 3047 1852 1750 4899 3044 7305
Total Income from Operations (Net) 71237 72605 65202 143842 133161 268295
a) Cost of materials consumed 49066 42251 45200 91317 83756 173011
b) Purchase of stock-in-trade 50 30 38 80 83 344
c) Charges in inventories of finished goods and stock-in-trade (1694) 5216 (1460) 3522 4037 (510)
d) Employees benefits expense 3738 3600 3444 7338 6861 13157
e) Depreciation & Amortization expense 483 451 415 934 819 1635
f) Other Expense 14201 12989 13603 27190 25611 53899
Total Expenses 65844 64537 61240 130381 121167 241536
Profit from Operations before Other Income, Finance Cost & Exceptional Items 5393 8068 3962 13461 11994 26759
Other Income 11923 755 4798 12678 6128 18489
Profit from ordinary activities before Finance cost & Exceptional Items 17316 8823 8760 26139 18122 45248
Finance Cost (625) (427) (910) (1052) (1409) (3920)
Profit from ordinary activities after Finance cost but before Exceptional Items 16691 8396 7850 25087 16713 41328
Exceptional items (Net) (35) (95) 15789 (130) 18287 17221
Profit from ordinary activities before Tax 16656 8301 23639 24957 35000 58549
Tax Expense (3534) (2375) (6331) (5909) (9235) (13852)
Net Profit for the period 13122 5926 17308 19048 25765 44697
Paid up Equity Share Capital
(face value of Rs. 1 each) 6184 6184 6184 6184 6184 6184
Reserves excluding Revaluation Reserve 248955
Earnings per share (Basic & Diluted) (not annualised) - Rs 2.12 0.96 2.80 3.08 4.17 7.23
Debt Service Coverage Ratio (DSCR) 0.78 12.86 1.24
Interest Service Coverage Ration (ISCR) 24.85 12.86 11.54
PARTICULARS OF SHAREHOLDING 
Public Shareholding 
- Number of Shares 401315380 401315380 401315380 401315380 401315380 401315380
- Percentage of Shareholding 64.90% 64.90% 64.90% 64.90% 64.90% 64.90%
Promoters and Promoters Group Shareholding 
(a) Pledged / Encumbered 
Number of Shares 11500000 11500000 - 11500000 - 11500000
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) 5.30% 5.30% - 5.30% - 5.30%
- Percentage of shares ( as a percentage of the total share capital of the company) 1.86% 1.86% - 1.86% - 1.86%
(b) Non Encumbered 
- Number of Shares 205583190 205583190 217083190 205583190 217083190 205583190
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) 94.70% 94.70% 100.00% 94.70% 100.00% 94.70%
- Percentage of shares ( as a percentage of the total share capital of the company) 33.24% 33.24% 35.10% 33.24% 35.10% 33.24%

Note:- DSCR = Earnings before Interest ,Exceptional items and Tax / Gross Interest and Principal repayment of long term loan

 ISCR = Earnings before Interest ,Exceptional items and Tax / Gross Interest

Notes:

1. For the quarter, Income from operations at Rs 712 crores increased by 9% overcorresponding quarter of previous year driven by higher volume and value realisations in thebranded tea operations. Profit from Operations at Rs 54 crores is 36% ahead of thecorresponding quarter of the previous year on account of improvement in branded teaoperations. Profit after tax at Rs 131 crores is lower compared to the corresponding quarterof previous year due to impact of exceptional items in corresponding quarter of previousyear partly offset by higher other income in current quarter. Effective tax rate for thequarter is lower due to lower rate of tax on overseas dividend income.

2. Exceptional tem during the quarter of Rs. 0.35 crore represents expenditure on restructuringactivities. Exceptional items for the corresponding quarter of previous year represent profitfrom sale of property in Bangalore Rs 192 crores net of expenditure on new productdevelopment Rs 3 crores, expenditure on revision of post retirement pension obligations ofRs 11 crores and provision against long term Investment Rs 20 crores pertaining to anoverseas Joint Venture company engaged in non-branded business.

3. Earnings Per Share (EPS) (basic and diluted) and EPS, net of exceptional items (basic anddiluted) for the three months and the year to date ended are given below:

Three Months Ended Year to date ended Year Ended
Sep 30
2014 Jun 30
2014 Sep 30
2013 Sep 30
2014 Sep 30
2013 Mar 31 2014
Earnings Per Share - Rs* 2.12 0.96 2.80 3.08 4.17 7.23
Earnings per share - Rs*
(excluding impact of exceptional items) 2.13 0.97 0.91 3.09 1.92 5.07

 * not annualised for the quarter end

EPS, excluding the impact of exceptional items, for the current quarter is higher as comparedto the corresponding quarter of previous year due to improved results from operation andhigher other income.

4. During the quarter, the Company has adopted estimated useful life of fixed assets asstipulated by Schedule II to the Companies Act 2013, applicable for accounting periodscommencing 1st April 2014 or re-assessed useful life based on technical evaluation.Accordingly, depreciation of Rs 0.66 crore (net of deferred tax of Rs 0.34 crore) on accountof assets whose useful life is already exhausted as on 1st April 2014 has been adjustedagainst Retained earnings. Depreciation expense for the quarter is higher by an amount ofRs 0.08 crore consequent to the revision in useful life effective 1st April 2014.

5. The Board of Directors of the Company in its meeting held on November 12, 2013 hadapproved the scheme of merger of its subsidiary, Mount Everest Mineral Water Limited(MEMWL), with the Company in terms of a scheme of amalgamation under Section 391-394and other applicable provisions of the Companies Act, 1956. The necessary approvals fromthe Stock exchanges and SEBI have been obtained. Further, the scheme was approved by theshareholders at the court convened meeting held on June 4, 2014 and also by non-promotershareholders through postal ballot. The appointed date of the scheme is April 1, 2013. Thescheme would be effective on the receipt of necessary approvals and completion of formalities as laid down thereunder. Accordingly, the operating results of MEMWL would bereflected by the Company from the appointed date of April 1, 2013 after the schemebecomes effective post obtaining all the requisite approvals. In terms of the scheme, till suchdate the scheme becomes effective, the merging entity's business operations are beingcarried out in trust on behalf of the Company.

6. As the Company's activity falls within a single business segment, viz "Buying / Blending andSale of tea in bulk and value added form" the disclosure requirements of AccountingStandard (AS-17) on "Segment Reporting" notified by the Companies (Accounting Standard)Rules 2006, are not applicable.

7. Investor complaints :

Pending at the beginning of the Quarter Received during the Quarter Disposed off during the Quarter Remaining unresolved at the
end of the Quarter
3 1 2 2

8. Statement of Assets and Liabilities as at September 30, 2014 is annexed.

9. Previous periods' figures have been regrouped / rearranged, to the extent necessary, toconform to current period's classification.

10. The aforementioned results were reviewed by the Audit Committee of the Board onNovember 5, 2014 and subsequently taken on record by the Board of Directors at itsMeeting held on November 5, 2014. The statutory auditors of the company have auditedthese results.

  Cyrus P Mistry

Mumbai, November 5, 2014  (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Audited Statement of Assets and Liabilities as at September 30, 2014

 Rs. In Lakhs

Particulars As at
Sep 30
2014 As at
March 31 2014
A EQUITY AND LIABILITIES 
1 SHAREHOLDERS' FUNDS 
(a) Share Capital 6184 6184
(b) Reserves and Surplus 271135 251141
Sub-total - Shareholders' funds 277319 257325
2 Non-current liabilities 
(a) Long-term borrowings 32500 32500
(b) Other long-term liabilities 7254 7254
(c) Long-term provisions 8923 8882
Sub-total - Non-current liabilities 48677 48636
3 Current Liabilities 
(a) Short term borrowings 39024 13151
(b) Trade Payables 28029 14929
(c) Other Current liabilities 14380 15452
(d) Short-term provisions 6423 19912
Sub-total - Current Liabilities 87856 63444
TOTAL - EQUITY AND LIABILITIES 413852 369405
B ASSETS 
1 Non-current assets 
(a) Fixed Assets 16951 16195
(b) Non-current investments 246775 240567
(c) Deferred tax Assets 4775 4955
(d) Long-term loans and advances 5735 4681
(e) Other Non Current Assets 7050 7050
Sub-total - Non-current assets 281286 273448
2 Current assets 
(a) Inventories 94837 63592
(b) Trade Receivables 21261 11487
(c) Cash & Bank balance 4460 788
(d) Short-term loans and advances 10717 18992
(e) Other current assets 1291 1098
Sub-total - Current assets 132566 95957
TOTAL ASSETS 413852 369405

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Unaudited Consolidated Financial Results for the three months ended September 30, 2014

 Rs. In Lakhs

Particulars Unaudited Three Months Ended Unaudited Year to date ended Audited Year Ended
Sep 30
2014 Jun 30
2014 Sep 30
2013 Sep 30
2014 Sep 30
2013 Mar 31 2014
Net Sales / Income from Operations (Net of excise duty) 196441 188395 190623 384836 370238 762198
Other Operating Income 5729 2916 2725 8645 4456 11563
Total Income from Operations (Net) 202170 191311 193348 393481 374694 773761
a) Cost of materials consumed 92492 82087 92063 174679 175567 352809
b) Purchase of stock in trade 6288 7350 6519 13638 12365 26356
c) Charges in inventories of finished goods work in progress and stock in trade (731) 4044 (4222) 3313 (4850) (11419)
d) Employee benefits expense 21570 20888 20072 42458 38740 78799
e) Depreciation & Amortization expenses (net of amount drawn from Revaluation Reserve) 3441 3500 3148 6941 6026 12906
f) Advertisement and Sales Charges 35480 28580 36667 64060 65404 140226
g) Other Expense 28473 28232 26493 56705 50970 111801
Total Expenses 187013 174681 180710 361694 344222 711478
Profit from Operations before Other Income, Finance Cost & Exceptional Items 15157 16630 12638 31787 30472 62283
Other Income 3191 1799 3229 4990 5063 8180
Profit from ordinary activities before Finance cost & Exceptional Items 18348 18429 15867 36777 35535 70463
Finance Cost (2160) (1511) (1813) (3671) (3850) (8653)
Profit from ordinary activities after Finance cost but before Exceptional Items 16188 16918 14054 33106 31685 61810
Exceptional items (Net) (2478) (269) 9205 (2747) 11368 8876
Profit from ordinary activities before Tax 13710 16649 23259 30359 43053 70685
Tax Expense (6813) (5406) (7203) (12219) (13408) (18449)
Profit after Tax 6897 11243 16056 18140 29645 52237
Share of Profit / (Loss) from Associates 651 2 408 653 (518) (1287)
Minority interest in Consolidated Profit (1303) (1522) 1539 (2825) 39 (2899)
Group Consolidated Net Profit 6245 9723 18003 15968 29166 48051
Paid-up equity share capital (face value of Rs. 1 each) 6184 6184 6184 6184 6184 6184
Reserves excluding revaluation Reserves 574493
Earnings per share (basic & diluted) (not annulised) - Rs. 1.01 1.57 2.91 2.58 4.72 7.77
PARTICULARS OF SHAREHOLDING 
Public Shareholding 
- Number of Shares 401315380 401315380 401315380 401315380 401315380 401315380
- Percentage of Shareholding 64.90% 64.90% 64.90% 64.90% 64.90% 64.90%
Promoters and Promoters Group Shareholding 
(a) Pledged / Encumbered 
- Number of Shares 11500000 11500000 - 11500000 - 11500000
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) 5.30% 5.30% - 5.30% - 5.30%
- Percentage of shares ( as a percentage of the total share capital of the company) 1.86% 1.86% - 1.86% - 1.86%
(b) Non Encumbered 
- Number of Shares 205583190 205583190 217083190 205583190 217083190 205583190
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) 94.70% 94.70% 100.00% 94.70% 100.00% 94.70%
- Percentage of shares ( as a percentage of the total share capital of the company) 33.24% 33.24% 35.10% 33.24% 35.10% 33.24%

Notes:

1. For the quarter, Income from operations at Rs 2022 crores increased by 5% as compared to thecorresponding quarter of the previous year. Profit from operations at Rs 152 crores is 20% higherthan the corresponding quarter of the previous year with improvements in both tea and coffeesegments. The increase in Profit from Operations is attributable to improved performance in thebranded business and notwithstanding the impact of lower crop available for sale in the plantationbusiness and spends in new ventures. Post the impact of exceptional items and tax, the GroupConsolidated Net Profit is Rs 62 crores. Tax charge is high mainly due to tax on higher quantumof dividend received from overseas subsidiaries a substantial part of which can be offset againstdividend distribution tax which is not a charge against profits but a subsequent appropriation.

2. The financial results includes following under Exceptional items:

Particulars Three months ended
Sep 30 2014 Sep 30 2013
Profit on Sale of Property - 192
Realised profit - earlier unrecognized - 86
Loss on investments in a US based functional beverage company - (107)
Diminution in the value of long term investments (17) -
Reorganisation and restructuring cost (8) (41)
Expenditure on revision of post retirement pension obligations - (11)
Product development and long term initiatives - (9)
Other Exceptional Cost (net) - (18)
Income / (Expenditure) (net) (25) (92)

3. Earnings per Share (EPS) (basic and diluted) and EPS, net of impact of exceptional items (basicand diluted) for the three months and the year to date ended are given below:

In Rs. Three Months Ended Year to date
ended Year Ended
Sep 30
2014 Jun 30
2014 Sep 30
2013 Sep 30
2014 Sep 30
2013 Mar 31 2014
Earnings Per Share - Rs* 1.01 1.57 2.91 2.58 4.72 7.77
Earnings per share - Rs*
excluding impact of exceptional items 1.34 1.60 1.32 2.94 2.81 5.46

*not annualised for the three months ended and year to date ended

EPS, excluding the impact of exceptional items, for the quarter is higher by 2% as compared tothe corresponding quarter of the previous year due to improved operating performance partlyoffset by higher tax impact.

4. During the quarter, the group has, with effect from 1st April 2014, reassessed the estimateduseful life of fixed assets as stipulated by Schedule II of Companies Act 2013 or as appropriatebased on technical evaluation. The consequential impact (after considering the transitionprovision specified in Part C of Schedule II to Companies Act 2013) on the depreciation chargedand on the results for the quarter is not material.

5. Actuarial loss (net of tax and minority interest) of Rs 37.94 crores for the quarter, relating todefined benefit pension scheme of overseas subsidiaries have been accounted in Reserves in theConsolidated Financial Statement applying the principles of Accounting Standard 21 and in linewith the policy followed by the overseas subsidiaries and other companies in compliance with therelevant overseas accounting framework. Had the accounting policy of recognising the actuarialgains and losses of pension scheme of the overseas subsidiaries in the Statement of Profit andLoss been followed, the Consolidated Net profit for the Group would have been lower by Rs 37.94crores and Rs 37.25 crores for the quarter and year to date respectively.

 The Statutory Auditors have invited attention to this in their Limited Review Report.

6. The Board of Directors of the Holding Company in its meeting held on November 12, 2013 hadapproved the scheme of merger of its subsidiary, Mount Everest Mineral Water Limited (MEMW),with the Holding Company in terms of a scheme of amalgamation under Section 391-394 andother applicable provisions of the Companies Act, 1956. The necessary approvals from the Stockexchanges and SEBI have been obtained. Further, the scheme was approved by theshareholders at the court convened meeting held on June 4, 2014 and also by non-promotershareholders through postal ballot. The appointed date of the scheme is April 1, 2013. Thescheme would be effective on the receipt of necessary approvals and completion of formalities aslaid down there under. Accordingly, the operating results of MEMW would be reflected by theHolding Company from the appointed date of April 1, 2013 after the scheme becomes effectivepost obtaining all the requisite approvals. In terms of the scheme, till such date the schemebecomes effective, the merging entity's business operations are being carried out in trust onbehalf of the Holding Company.

7. During the previous year, Tata Coffee Limited (TCL), Indian subsidiary of the Holding Company,had filed for merger of its wholly owned subsidiary Alliance Coffee Limited (ACL) with theHonorable High Court of Karnataka. The operating results of ACL would be reflected by TCL fromthe appointed date of April 1, 2013 on approval of the said scheme which is pending withHonorable High Court of Karnataka. In terms of the scheme, till such date the scheme becomeseffective, the merging entity's business operations are being carried out in trust on behalf of TCL.

8. The major part of the Holding Company's business arises from operations outside India andthrough its subsidiaries. In view of this the Company has opted to publish only consolidatedresults for the year as permitted under SEBI guidelines. The standalone results shall be availableon the Company's website as well as on the website of the stock exchanges where theCompany's shares are listed. The Total Income from Operations, Net Profit for the period andEarnings per share of the Holding Company's standalone financial results are given below:

In Rs. Crores Three Months Ended Year to date ended Year Ended
Sep 30
2014 Jun 30
2014 Sep 30
2013 Sep 30
2014 Sep 30
2013 Mar 31 2014
Total Income from Operations (Net) 712 726 652 1438 1332 2683
Net Profit for the period 131 59 173 190 258 447
Earnings per share - Rs* 2.12 0.96 2.80 3.08 4.17 7.23
Earnings per share - Rs*
excluding impact of exceptional items 2.13 0.97 0.91 3.09 1.92 5.07

*not annualised for the three months ended and year to date ended

Profit for the quarter ended September 30, 2013 was higher mainly due to the impact ofexceptional items.

9. Statement of Asset and Liabilities as at September 30, 2014 is annexed.

10. Previous period's figures have been regrouped / rearranged, to the extent necessary, to conformto current period's classifications.

11. The aforementioned results were reviewed by the Audit Committee of the Board on November 5,2014 and subsequently taken on record by the Board of Directors at its Meeting held onNovember 5, 2014. The Statutory Auditors of the company have conducted limited review ofthese results.

  Cyrus P Mistry

Mumbai, November 5, 2014  (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Unaudited Consolidated Statement of Assets and Liabilities as at September 30, 2014

 Rs. In Lakhs

Particulars As at
Sep 30
2014 Audited
March 31 2014
A EQUITY AND LIABILITIES 
1 Shareholders' Funds 
(a) Share Capital 6184 6184
(b) Reserves and Surplus 595594 578701
Sub-total - Shareholders' funds 601778 584885
2 Minority Interest 94120 92407
3 Non-current liabilities 
(a) Long-term borrowings 91522 105375
(b) Deferred tax liabilities (net) 5210 4625
(c) Other long-term liabilities 7864 8055
(d) Long-term provisions 24649 21851
Sub-total - Non-current liabilities 129245 139906
4 Current liabilities 
(a) Short-term borrowings 64834 34759
(b) Trade payables 89811 76888
(c) Other current liabilities 35800 36803
(d) Short-term provisions 12716 25499
Sub-total - current liabilities 233161 173949
TOTAL - EQUITY AND LIABLITIES 1028304 991147
B ASSETS 
1 Non-current assets 
(a) Fixed Assets 107529 105233
(b) Goodwill on Consolidation 429041 418824
(c) Non-current investments 59506 60787
(d) Long-term loans and advances 17238 13579
(e) Other non-current assets 7050 7050
Sub-total - Non-current assets 620364 605473
2 Current assets 
(a) Current investments 350 310
(b) Inventories 175612 151846
(c) Trade Receivables 81024 65435
(s) Cash & Bank balance 65080 72524
(e) Short-term loans and advances 82873 92789
(f) Other current assets 3001 2770
Sub-total - Current assets 407940 385674
TOTAL ASSETS 1028304 991147

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Unaudited Consolidated Segment wise Revenue, Results and Capital Employed,

under Clause 41, of the Listing Agreement for the three months ended September 30, 2014

 Rs. In Lakhs

Particulars Unaudited Three Months Ended Unaudited Year to date ended Audited
Year Ended
Sep 30
2014 Jun 30
2014 Sep 30
2013 Sep 30
2014 Sep 30
2013 Mar 31 2014
1. Segment Revenue 
(a) Tea 146584 145110 137024 291694 268764 570120
(b) Coffee & Other Produce 52987 43024 53974 96011 100829 194749
(c) Others 2599 3177 2350 5776 5101 8892
Total Income from Operations (Net) 202170 191311 193348 393481 374694 773761
2. Segment Results 
(a) Tea 12437 16858 11593 29295 26763 63020
(b) Coffee & Other Produce 7474 5655 6017 13129 14416 21458
(c) Others (1033) (548) (639) (1581) (1781) (3223)
Total 18878 21965 16971 40843 39398 81255
Add/(Less) 
i) Finance Cost (2160) (1511) (1813) (3671) (3850) (8653)
ii) Other Un-allocable items, Other Income and Exceptional Items (3008) (3805) 8101 (6813) 7505 (1916)
Profit from ordinary activities before Tax 13710 16649 23259 30359 43053 70686
3. Capital Employed 
(a) Tea 431571 397621 424758 431571 424758 404457
(b) Coffee & Other Produce 253728 249429 242993 253728 242993 231727
(c) Others 24855 25351 24359 24855 24359 26018
(d) Unallocated including Investments (14256) 30856 (2462) (14256) (2462) 15090
Total 695898 703257 689648 695898 689648 677292

Notes:

a. Business Segments: The internal business segmentation and the activities encompassed therein are as follows:

Tea: Cultivation, manufacture, blending and sale of tea in packet, bulk or value added forms

Coffee and Other Produce : Cultivation, manufacture of coffee and related plantation crops and sale in various value added forms

Others: Sale of water products and other businesses

b. The segment wise revenue, results, capital employed figures relate to the respective amounts directly identifiable to each of the segments.

Unallocable expenditure includes expenses incurred on common services at the corporate level and exceptional items.

Unallocable income includes income from investments and exceptional items.

c. Previous periods figures have been regrouped/rearranged to the extent necessary, to conform to current period classifications.

  Cyrus P Mistry

Mumbai, November 5, 2014  (Chairman)

Rs. In Crores

Particulars Three Months Ended Year to date ended Year Ended
Sep 30
2014 June 30
2014 Sep 30
2013 Sep 30
2014 Sep 30
2013 Mar 31 2014
Total Income from Operations (Net) 2021.70 1913.11 1933.48 3934.81 3746.94 7737.61
Profit before Exceptionals 161.88 169.18 140.54 331.06 316.85 618.10
Exceptionals Items (Net) (24.78) (2.69) 92.05 (27.47) 113.68 88.76
Net Profit before Tax 137.10 166.49 232.59 303.59 430.53 706.86
Net Profit after Tax 68.97 112.43 160.56 181.40 296.45 522.37
Earnings per Share - Rs* 1.01 1.57 2.91 2.58 4.72 7.77
Earnings per Share (Before Exceptionals)- on Core Operations - Rs * 1.34 1.60 1.32 2.94 2.81 5.46
Dividend - Rs per share (Face Value Re 1 per Share) Rs. 2.25

* Not annualised for the three months ended and year to date ended

This information is provided by RNS

The company news service from the London Stock Exchange

  END

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TATACONSUM — Tata Consumer Products News Story

Tata Global Bev.. - Half Yearly Report

Recent news on Tata Consumer Products

India's Tata Consumer jumps to two-year high on upbeat revenue forecast (updated)

India's Tata Consumer jumps to near 2-year high on double-digit growth outlook

India's Tata Consumer Products beats profit estimates on branded business growth (updated)

India's Tata Consumer Products posts 21.5% quarterly profit jump

Brief: Tata Consumer Products Q4 Consol Net Profit 4.19 Billion Rupees

Particulars	Three Months Ended			Year to date ended		Year Ended
	Sep 30 2014	Jun 30 2014	Sep 30 2013	Sep 30 2014	Sep 30 2013	Mar 31 2014
Net Sales / Income from Operations (Net of excise duty)	68190	70753	63452	138943	130117	260990
Other Operating Income	3047	1852	1750	4899	3044	7305
Total Income from Operations (Net)	71237	72605	65202	143842	133161	268295
a) Cost of materials consumed	49066	42251	45200	91317	83756	173011
b) Purchase of stock-in-trade	50	30	38	80	83	344
c) Charges in inventories of finished goods and stock-in-trade	(1694)	5216	(1460)	3522	4037	(510)
d) Employees benefits expense	3738	3600	3444	7338	6861	13157
e) Depreciation & Amortization expense	483	451	415	934	819	1635
f) Other Expense	14201	12989	13603	27190	25611	53899
Total Expenses	65844	64537	61240	130381	121167	241536
Profit from Operations before Other Income, Finance Cost & Exceptional Items	5393	8068	3962	13461	11994	26759
Other Income	11923	755	4798	12678	6128	18489
Profit from ordinary activities before Finance cost & Exceptional Items	17316	8823	8760	26139	18122	45248
Finance Cost	(625)	(427)	(910)	(1052)	(1409)	(3920)
Profit from ordinary activities after Finance cost but before Exceptional Items	16691	8396	7850	25087	16713	41328
Exceptional items (Net)	(35)	(95)	15789	(130)	18287	17221
Profit from ordinary activities before Tax	16656	8301	23639	24957	35000	58549
Tax Expense	(3534)	(2375)	(6331)	(5909)	(9235)	(13852)
Net Profit for the period	13122	5926	17308	19048	25765	44697
Paid up Equity Share Capital (face value of Rs. 1 each)	6184	6184	6184	6184	6184	6184
Reserves excluding Revaluation Reserve						248955
Earnings per share (Basic & Diluted) (not annualised) - Rs	2.12	0.96	2.80	3.08	4.17	7.23
Debt Service Coverage Ratio (DSCR)				0.78	12.86	1.24
Interest Service Coverage Ration (ISCR)				24.85	12.86	11.54
PARTICULARS OF SHAREHOLDING
Public Shareholding
- Number of Shares	401315380	401315380	401315380	401315380	401315380	401315380
- Percentage of Shareholding	64.90%	64.90%	64.90%	64.90%	64.90%	64.90%
Promoters and Promoters Group Shareholding
(a) Pledged / Encumbered
Number of Shares	11500000	11500000	-	11500000	-	11500000
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group )	5.30%	5.30%	-	5.30%	-	5.30%
- Percentage of shares ( as a percentage of the total share capital of the company)	1.86%	1.86%	-	1.86%	-	1.86%
(b) Non Encumbered
- Number of Shares	205583190	205583190	217083190	205583190	217083190	205583190
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group )	94.70%	94.70%	100.00%	94.70%	100.00%	94.70%
- Percentage of shares ( as a percentage of the total share capital of the company)	33.24%	33.24%	35.10%	33.24%	35.10%	33.24%

Pending at the beginning of the Quarter	Received during the Quarter	Disposed off during the Quarter	Remaining unresolved at the end of the Quarter
3	1	2	2

Particulars		As at Sep 30 2014	As at March 31 2014
A	EQUITY AND LIABILITIES
1	SHAREHOLDERS' FUNDS
	(a) Share Capital	6184	6184
	(b) Reserves and Surplus	271135	251141
	Sub-total - Shareholders' funds	277319	257325
2	Non-current liabilities
	(a) Long-term borrowings	32500	32500
	(b) Other long-term liabilities	7254	7254
	(c) Long-term provisions	8923	8882
	Sub-total - Non-current liabilities	48677	48636
3	Current Liabilities
	(a) Short term borrowings	39024	13151
	(b) Trade Payables	28029	14929
	(c) Other Current liabilities	14380	15452
	(d) Short-term provisions	6423	19912
	Sub-total - Current Liabilities	87856	63444
	TOTAL - EQUITY AND LIABILITIES	413852	369405
B	ASSETS
1	Non-current assets
	(a) Fixed Assets	16951	16195
	(b) Non-current investments	246775	240567
	(c) Deferred tax Assets	4775	4955
	(d) Long-term loans and advances	5735	4681
	(e) Other Non Current Assets	7050	7050
	Sub-total - Non-current assets	281286	273448
2	Current assets
	(a) Inventories	94837	63592
	(b) Trade Receivables	21261	11487
	(c) Cash & Bank balance	4460	788
	(d) Short-term loans and advances	10717	18992
	(e) Other current assets	1291	1098
	Sub-total - Current assets	132566	95957
	TOTAL ASSETS	413852	369405

Particulars	Unaudited Three Months Ended			Unaudited Year to date ended		Audited Year Ended
	Sep 30 2014	Jun 30 2014	Sep 30 2013	Sep 30 2014	Sep 30 2013	Mar 31 2014
Net Sales / Income from Operations (Net of excise duty)	196441	188395	190623	384836	370238	762198
Other Operating Income	5729	2916	2725	8645	4456	11563
Total Income from Operations (Net)	202170	191311	193348	393481	374694	773761
a) Cost of materials consumed	92492	82087	92063	174679	175567	352809
b) Purchase of stock in trade	6288	7350	6519	13638	12365	26356
c) Charges in inventories of finished goods work in progress and stock in trade	(731)	4044	(4222)	3313	(4850)	(11419)
d) Employee benefits expense	21570	20888	20072	42458	38740	78799
e) Depreciation & Amortization expenses (net of amount drawn from Revaluation Reserve)	3441	3500	3148	6941	6026	12906
f) Advertisement and Sales Charges	35480	28580	36667	64060	65404	140226
g) Other Expense	28473	28232	26493	56705	50970	111801
Total Expenses	187013	174681	180710	361694	344222	711478
Profit from Operations before Other Income, Finance Cost & Exceptional Items	15157	16630	12638	31787	30472	62283
Other Income	3191	1799	3229	4990	5063	8180
Profit from ordinary activities before Finance cost & Exceptional Items	18348	18429	15867	36777	35535	70463
Finance Cost	(2160)	(1511)	(1813)	(3671)	(3850)	(8653)
Profit from ordinary activities after Finance cost but before Exceptional Items	16188	16918	14054	33106	31685	61810
Exceptional items (Net)	(2478)	(269)	9205	(2747)	11368	8876
Profit from ordinary activities before Tax	13710	16649	23259	30359	43053	70685
Tax Expense	(6813)	(5406)	(7203)	(12219)	(13408)	(18449)
Profit after Tax	6897	11243	16056	18140	29645	52237
Share of Profit / (Loss) from Associates	651	2	408	653	(518)	(1287)
Minority interest in Consolidated Profit	(1303)	(1522)	1539	(2825)	39	(2899)
Group Consolidated Net Profit	6245	9723	18003	15968	29166	48051
Paid-up equity share capital (face value of Rs. 1 each)	6184	6184	6184	6184	6184	6184
Reserves excluding revaluation Reserves						574493
Earnings per share (basic & diluted) (not annulised) - Rs.	1.01	1.57	2.91	2.58	4.72	7.77
PARTICULARS OF SHAREHOLDING
Public Shareholding
- Number of Shares	401315380	401315380	401315380	401315380	401315380	401315380
- Percentage of Shareholding	64.90%	64.90%	64.90%	64.90%	64.90%	64.90%
Promoters and Promoters Group Shareholding
(a) Pledged / Encumbered
- Number of Shares	11500000	11500000	-	11500000	-	11500000
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group )	5.30%	5.30%	-	5.30%	-	5.30%
- Percentage of shares ( as a percentage of the total share capital of the company)	1.86%	1.86%	-	1.86%	-	1.86%
(b) Non Encumbered
- Number of Shares	205583190	205583190	217083190	205583190	217083190	205583190
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group )	94.70%	94.70%	100.00%	94.70%	100.00%	94.70%
- Percentage of shares ( as a percentage of the total share capital of the company)	33.24%	33.24%	35.10%	33.24%	35.10%	33.24%

In Rs.	Three Months Ended			Year to date ended		Year Ended
	Sep 30 2014	Jun 30 2014	Sep 30 2013	Sep 30 2014	Sep 30 2013	Mar 31 2014
Earnings Per Share - Rs*	1.01	1.57	2.91	2.58	4.72	7.77
Earnings per share - Rs* excluding impact of exceptional items	1.34	1.60	1.32	2.94	2.81	5.46

In Rs. Crores	Three Months Ended			Year to date ended		Year Ended
	Sep 30 2014	Jun 30 2014	Sep 30 2013	Sep 30 2014	Sep 30 2013	Mar 31 2014
Total Income from Operations (Net)	712	726	652	1438	1332	2683
Net Profit for the period	131	59	173	190	258	447
Earnings per share - Rs*	2.12	0.96	2.80	3.08	4.17	7.23
Earnings per share - Rs* excluding impact of exceptional items	2.13	0.97	0.91	3.09	1.92	5.07

Particulars		As at Sep 30 2014	Audited March 31 2014
A	EQUITY AND LIABILITIES
1	Shareholders' Funds
	(a) Share Capital	6184	6184
	(b) Reserves and Surplus	595594	578701
	Sub-total - Shareholders' funds	601778	584885
2	Minority Interest	94120	92407
3	Non-current liabilities
	(a) Long-term borrowings	91522	105375
	(b) Deferred tax liabilities (net)	5210	4625
	(c) Other long-term liabilities	7864	8055
	(d) Long-term provisions	24649	21851
	Sub-total - Non-current liabilities	129245	139906
4	Current liabilities
	(a) Short-term borrowings	64834	34759
	(b) Trade payables	89811	76888
	(c) Other current liabilities	35800	36803
	(d) Short-term provisions	12716	25499
	Sub-total - current liabilities	233161	173949
	TOTAL - EQUITY AND LIABLITIES	1028304	991147
B	ASSETS
1	Non-current assets
	(a) Fixed Assets	107529	105233
	(b) Goodwill on Consolidation	429041	418824
	(c) Non-current investments	59506	60787
	(d) Long-term loans and advances	17238	13579
	(e) Other non-current assets	7050	7050
	Sub-total - Non-current assets	620364	605473
2	Current assets
	(a) Current investments	350	310
	(b) Inventories	175612	151846
	(c) Trade Receivables	81024	65435
	(s) Cash & Bank balance	65080	72524
	(e) Short-term loans and advances	82873	92789
	(f) Other current assets	3001	2770
	Sub-total - Current assets	407940	385674
	TOTAL ASSETS	1028304	991147