Tata Consumer Products logo

TATACONSUM - Tata Consumer Products News Story

₹518.6 33.9  7.0%

Last Trade - 07/08/20

Sector
Consumer Defensives
Size
Large Cap
Market Cap £4.85bn
Enterprise Value £4.85bn
Revenue £1.06bn
Position in Universe 61st / 3003

Tata Global Bev.Ltd - 1st Quarter Results

Mon 14th August, 2017 7:00am
RNS Number : 8473N
Tata Global Beverages Limited
12 August 2017

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road Kolkata-700020

CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,

Website : www.tataglobalbeverages.com

Standalone Financial Results for the quarter ended June 30, 2017

Rs. in Crores

Particulars

Three months ended

Year Ended

June 30

2017

Unaudited

March 31

2017

Refer Note 4

June 30

2016

Unaudited

March 31

2017

Audited

Revenue from Operations

859.44

696.57

820.08

3063.89

Other Income

45.02

14.37

12.74

96.34

Total Income

904.46

710.94

832.82

3160.23

Cost of materials consumed

455.02

464.52

463.04

1867.72

Purchase of stock-in-trade

8.70

8.41

1.31

23.03

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

47.73

(60.98)

66.36

(1.79)

Employees benefits expense

51.00

45.41

46.10

187.82

Finance costs

3.12

9.70

12.18

49.10

Depreciation and amortisation expense

6.28

6.32

5.56

23.70

Advertisement and sales charges

47.93

66.43

36.32

221.37

Other expenses

88.85

107.98

90.86

403.09

Total Expenses

708.63

647.79

721.73

2774.04

Profit before Exceptional Items and Tax

195.83

63.15

111.09

386.19

Exceptional Items

18.77

-

-

-

Profit before Tax

214.60

63.15

111.09

386.19

Tax Expense

(62.12)

(19.19)

(37.83)

(110.19)

Net Profit after Tax (A)

152.48

43.96

73.26

276.00

Other Comprehensive Income





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





Remeasurement of defined benefit plans

-

(3.39)

(0.89)

(17.58)

Changes in fair valuation of equity instruments

8.92

110.57

65.43

255.55


8.92

107.18

64.54

237.97

ii) Items that will be reclassified to profit or loss





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

(0.54)

0.81

(0.53)

2.21

Other Comprehensive Income (Net of tax) (B)

8.38

107.99

64.01

240.18

Total Comprehensive Income (A+B)

160.86

151.95

137.27

516.18

Paid-up equity share capital (Face value of Re. 1 each)

63.11

63.11

63.11

63.11

Reserves excluding Revaluation Reserves




3699.58

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

2.42

0.70

1.16

4.37

Notes:

1. For the quarter, Revenue from operations at Rs 859 crores increased over corresponding quarter of the previous year reflecting improved performance in the branded tea operations. Sales growth in the quarter was muted due to the implementation of GST.Profit before exceptional items at Rs 196 crores is higher by 76% as compared to corresponding quarter of previous year reflecting improved operating performance, higher dividend income and lower finance costs. Total income for the quarter included Rs 40 crores of dividend from overseas subsidiaries (Previous year Nil). After exceptional items, profit after tax at Rs 152 crores was higher by 108%.

2. Exceptional item for the current quarter represents gain on disposal of stake in Zhejiang Tata Tea Extractions Company Limited.

3. The Company has organized its business into Branded Segment and Non Branded Segment. Branded Segment is further categorized as Branded Tea, Branded Coffee and the residual as Branded Others. As per the threshold limits prescribed under Indian Accounting Standard (Ind AS-108) on "Segment Reporting", the Company's reportable activity falls within a single business segment and hence, the segment disclosure requirements are not applicable.

4. Figures for the quarter ended March 31, 2017 are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year.

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 August 10, 2017 and subsequently taken on record by the Board of Directors at its meeting held on August 11, 2017. The Statutory Auditors of the Company have conducted limited review on these results.


N Chandrasekaran

Mumbai, August 11, 2017

(Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road Kolkata-700020

CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,

Website : www.tataglobalbeverages.com

Consolidated Financial Results for the quarter ended June 30, 2017

Rs. in Crores

Particulars

Three months ended

Year ended

June 30, 2017

Unaudited

March 31, 2017

Refer Note 6

June 30, 2016

Unaudited

March 31, 2017

Audited

Revenue from Operations

1704.42

1674.26

1735.46

6779.55

Other Income

14.34

16.82

21.04

83.10

Total Income

1718.76

1691.08

1756.50

6862.65

Cost of Materials Consumed

791.66

791.52

781.97

3205.82

Purchase of stock in trade

127.98

117.18

67.88

356.44

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

(10.13)

(77.45)

101.97

(0.69)

Employee Benefits Expense

203.22

213.21

208.70

834.95

Finance Costs

11.06

24.77

22.04

91.53

Depreciation and Amortisation Expenses

29.05

31.20

36.25

126.04

Advertisement and Sales charges

118.19

165.86

103.94

584.65

Other Expenses

229.33

285.03

232.51

1007.25

Total Expenses

1500.36

1551.32

1555.26

6205.99

Profit before Exceptional Items and Tax

218.40

139.76

201.24

656.66

Exceptional Items (Net)

5.11

(42.50)

(1.74)

5.30

Profit before Tax

223.51

97.26

199.50

661.96

Tax Expense

(80.54)

(12.90)

(73.21)

(198.31)

Net Profit after Tax

142.97

84.36

126.29

463.65

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

(1.16)

(33.24)

(6.77)

(8.85)

Group Consolidated Net Profit (A)

141.81

51.12

119.52

454.80

Attributable to :





Owners of the Parent

124.44

31.41

103.65

389.44

Non Controlling Interest

17.37

19.71

15.87

65.36

Other Comprehensive Income





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





Remeasurement of the defined benefit plan

17.02

30.96

(12.30)

10.24

Changes in fair valuation of equity instruments

8.98

112.46

67.13

259.37


26.00

143.42

54.83

269.61

ii) Items that will be reclassified to profit and loss





Exchange differences on translation of foreign operations

111.23

(144.98)

(243.68)

(567.36)

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

(11.33)

8.36

39.96

19.78


99.90

(136.62)

(203.72)

(547.58)

Total Other Comprehensive Income, net of tax (B)

125.90

6.80

(148.89)

(277.97)

Attributable to :





Owners of the Parent

109.88

20.59

(122.97)

(198.83)

Non Controlling Interest

16.02

(13.79)

(25.92)

(79.14)

Total Comprehensive Income (A+B)

267.71

57.92

(29.37)

176.83

Attributable to :





Owners of the Parent

234.32

52.00

(19.32)

190.61

Non Controlling Interest

33.39

5.92

(10.05)

(13.78)

Paid-up equity share capital (Face value of Re 1 each)

63.11

63.11

63.11

63.11

Reserves excluding Revaluation Reserve




6180.53

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

1.97

0.50

1.64

6.17

Notes:

1. For the quarter, Revenue from operations at Rs 1704 Crores grew by 1% in underlying terms. However, the reported number reflects a decrease of 2% due to adverse translation impact. Sales growth during the quarter was muted due to introduction of GST in India and phasing of promotions in developed markets.

2. Profit before exceptional items at Rs 218 Crores is higher by 9% as compared to the corresponding quarter of the previous year reflecting good cost management, lower commodity and finance costs partially offset by higher advertising spends. The Groups Consolidated net profit for the quarter at Rs 142 Crores increased by 19% due to improved operating performance, higher exceptional income and lower losses from its Joint Ventures and Associates. The Company's Joint Ventures had a strong quarter with a turnover growth in excess of 20%.

3. Exceptional item for the current quarter represent a gain from disposal of stake in its Chinese Joint venture, Zhejiang Tata Tea Extraction Company Limited. Exceptional items for the corresponding quarter of the previous year represents cost relating to business restructuring.

4. The major part of the Holding Company's business arises from operations outside India and through its subsidiaries. In view of this the Company has opted to publish only consolidated results for the year as permitted under SEBI guidelines. The Total Income, Profit before tax and Profit after tax of the Holding Company's standalone financial results are given below :



In Rs Crores

Particulars

Three months ended

Year ended

June 30, 2017

March 31, 2017

June 30, 2016

March 31, 2017

Total Income

904.46

710.94

832.82

3160.23

Profit before Tax

214.60

63.15

111.09

386.19

Profit after Tax

152.48

43.96

73.26

276.00

Total Comprehensive Income

160.86

151.95

137.27

516.18

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

2.42

0.70

1.16

4.37

Total income for the quarter includes Rs 40 Crores of dividend from overseas subsidiaries (Previous year - Nil).

5. The Group has decided to restructure its operating model in Russia, by selling its business units along with all assets and operating liabilities for a consideration and to license the brand to the purchaser, Skhodnya Grand LLC and Coffee Pack LLC, Russia. The transaction is subject to completion of conditions precedent including regulatory approvals and expected to be closed over the next 3-4 months.

6. Figures for the quarter ended March 31, 2017 are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year.

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

8. The aforementioned results were reviewed by the Audit Committee of the Board on August 10, 2017 and subsequently taken on record by the Board of Directors at its Meeting held on August 11 2017. The Statutory Auditors of the company have conducted limited review of these results.

9. The Consolidated and Standalone result for the quarter ended June 30, 2017 are available on the Bombay Stock Exchange website (URL: www.bseindia.com), the National Stock Exchange website (URL: www.nseindia.com) and on the Company's website (URL: www.tataglobalbeverages.com ).


N Chandrasekaran

Mumbai, August 11, 2017

(Chairman)



Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road Kolkata-700020

CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,

Website : www.tataglobalbeverages.com

Consolidated Segment wise Revenue, Results, Assets and Liabilities

for the quarter ended June 30, 2017

Rs. in Crores

Particulars

Three months ended

Year ended

June 30, 2017

Unaudited

March 31, 2017

Refer Note 6

June 30, 2016

Unaudited

March 31, 2017

Audited

Segment Revenue





Branded Business





(a) Tea

1245.66

1185.27

1214.78

4803.48

(b) Coffee

249.85

270.34

296.63

1117.84

(c) Others

8.87

11.16

6.77

35.96

Total Branded Business

1504.38

1466.77

1518.18

5957.28

Non Branded Business

209.36

224.42

231.69

890.05

Total Segment Revenue

1713.74

1691.19

1749.87

6847.33

Less: Inter segment Sales

(9.32)

(16.93)

(14.41)

(67.78)

Revenue from Operations

1704.42

1674.26

1735.46

6779.55

Segment Results





Branded Business





(a) Tea

183.12

112.96

164.07

577.72

(b) Coffee

40.10

48.54

55.22

178.92

(c) Others

(3.17)

(7.26)

(3.40)

(22.11)

Total Branded Business

220.05

154.24

215.89

734.53

Non Branded Business

30.73

46.09

39.02

136.97

Total Segment Results

250.78

200.33

254.91

871.50

Add/Less





Finance Cost

(11.06)

(24.77)

(22.04)

(91.53)

Other Unallocable items, Other Income & Exceptional Items

(16.21)

(78.30)

(33.37)

(118.01)

Profit Before Tax

223.51

97.26

199.50

661.96

Segment Assets





Branded Business





(a) Tea

4172.69

4145.91

4078.35

4145.91

(b) Coffee

1764.16

1763.13

1881.92

1763.13

(c) Others

40.56

44.81

30.33

44.81

Total Branded Business

5977.41

5953.85

5990.60

5953.85

Non Branded Business

1021.10

965.55

880.78

965.55

Total Segment Assets

6998.51

6919.40

6871.38

6919.40

Unallocable Corporate Assets

2857.08

2665.48

3115.84

2665.48

Total Assets

9855.59

9584.88

9987.22

9584.88

Segment Liabilities





Branded Business





(a) Tea

792.87

795.74

740.94

795.74

(b) Coffee

165.31

178.62

147.63

178.62

(c) Others

14.65

40.42

11.95

40.42

Total Branded Business

972.83

1014.78

900.52

1014.78

Non Branded Business

130.38

111.25

116.79

111.25

Total Segment Liabilities

1103.21

1126.03

1017.31

1126.03

Unallocable Corporate Liabilities

1315.20

1273.85

1898.34

1273.85

Total Liabilities

2418.41

2399.88

2915.65

2399.88

Notes:

a. The group has organised business into Branded Segment and Non Branded Segment. Branded Segment is further sub-categorised as Branded Tea, Branded Coffee and the residual as Branded Others. 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 -

Branded Tea : Sale of branded tea and various value added forms

Branded Coffee : Sale of coffee in various value added forms

Branded Others : Sale of water products

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 and exceptional items.


N Chandrasekaran

Mumbai, August 11, 2017

(Chairman)


This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFGGUPURUPMGPP
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.