REG - Tata Global Bev.Ltd - 1st Quarter Results

Tata Consumer ProductsAnnouncement

14/08/2018 11:20

RNS Number : 7664X
Tata Global Beverages Limited
14 August 2018
 


 
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road  Kolkata-700020
 
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,
Website : www.tataglobalbeverages.com
 
Unaudited Standalone Financial Results for the quarter ended June 30, 2018
Rs. in Crores



Particulars
 
 
 


Three months ended


Year ended




June 30
2018


March 31
2018


June 30
2017


March 31
2018




Unaudited


Refer Note 4


Unaudited


Audited




Revenue from Operations


                 908.60


714.65


859.44


3217.32




Other Income


                   59.90


24.10


45.02


147.58




Total Income


                 968.50


738.75


904.46


3364.90




Cost of materials consumed


                 456.77


458.46


             455.02


1871.55




Purchase of stock-in-trade


                     5.91


7.65


                 8.70


33.00




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


                   78.56


            (49.93)


               47.73


             (1.67)




Employees benefits expense


                   55.05


50.10


               51.00


208.13




Finance costs


                     3.69


3.52


                 3.12


13.65




Depreciation and amortisation expense


                     7.32


7.32


                 6.28


27.20




Advertisement and sales charges


                   41.35


61.39


               47.93


216.12




Other expenses


                 104.01


116.79


               88.85


388.81




Total Expenses


                 752.66


655.30


708.63


2756.79




Profit before Exceptional Items and Tax


                 215.84


83.45


195.83


608.11




Exceptional Items (Net)


                        -  


             (5.49)


           18.77


            115.36




Profit before Tax


                 215.84


              77.96


           214.60


            723.47




Tax Expense


                (68.13)


           (24.80)


           (62.12)


         (189.15)




Net Profit after Tax (A)


                 147.71


              53.16


             152.48


            534.32




Other Comprehensive Income




















i) Items that will not be reclassified to profit or loss (net of tax)




















Remeasurement of defined benefit plans


                     5.31


                5.59


                     -  


             12.58




Changes in fair valuation of equity instruments


                     2.73


             (5.08)


                 8.92


             53.31








                     8.04


                0.51


                 8.92


             65.89




ii) Items that will be reclassified to profit or loss (net of tax)




















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


                  (1.58)


             (0.85)


              (0.54)


             (1.76)




Other Comprehensive Income (Net of tax) (B)


                     6.46


             (0.34)


                 8.38


             64.13




Total Comprehensive Income (A+B)


                 154.17


              52.82


             160.86


598.45




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


                   63.11


63.11


63.11


63.11




Reserves excluding Revaluation Reserves


- 


- 


-


4128.38




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


                     2.35


                0.84


                  2.42


               8.47



 
Notes:
1.  For the quarter, Revenue from operations at Rs 909 crores increased by 6% over corresponding quarter of the previous year. Profit before exceptional items at Rs 216 crores is higher by 10% as compared to corresponding quarter of previous year reflecting improvements in operating profits and higher other income. Profit after tax at Rs 148 crores is marginally lower than corresponding quarter of previous year on account of exceptional income in the prior year.
 
2.  The Company has organised its business into Branded Segment and Non Branded Segment. Branded Segment is further categorised 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.
 
3.  Effective April 1, 2018, the Company has adopted Ind AS 115 using the cumulative effect method and the comparative information is not restated. The adoption of the standard did not have any material impact on the results of the Company.
 
4.  Figures for the quarter ended March 31, 2018 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.  The aforementioned results were reviewed by the Audit Committee of the Board on July 31, 2018 and subsequently taken on record by the Board of Directors at its meeting held on August 01, 2018. The Statutory Auditors of the Company have conducted limited review on these results.
 
 
 
In terms of our report attached



For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
Firm's Registration No. 117366W/W-100018
 
 
 
Sanjiv V. Pilgaonkar
Partner
Membership No. 039826
Mumbai: August 01, 2018 


 
 
 
 
 
                      Ajoy Misra
Managing Director and CEO



 
 
 
 
 
 
 
 
 
 
               
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road  Kolkata-700020
 
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,
Website : www.tataglobalbeverages.com
 
Unaudited Consolidated Financial Results for the quarter ended June 30, 2018
Rs. in Crores



Particulars


Three months ended


Year Ended




June 30,

2018


March 31,

2018


June 30,

2017


March 31,

2018




Unaudited


Refer Note 5


Unaudited


Audited




Revenue from Operations


1802.59


1688.40


1704.42


6815.35




Other Income


28.52


25.72


14.34


94.15




Total Income


1831.11


1714.12


1718.76


6909.50




Cost of Materials Consumed


777.36


797.56


791.66


3203.22




Purchase of stock in trade


214.69


198.35


127.98


542.89




Changes in inventories of finished goods, work in progress

and stock in trade


(11.69)


(56.13)


(10.13)


(46.80)




 Employee Benefits Expense


203.20


210.70


203.22


821.37




 Finance Costs


12.57


13.58


11.06


42.76




 Depreciation and Amortisation Expense


29.49


28.47


29.05


116.04




 Advertisement and Sales charges


118.05


135.28


118.19


508.91




 Other Expenses


252.21


256.94


229.33


946.85




 Total Expenses


1595.88


1584.75


1500.36


6135.24




 Profit before Exceptional Items and Tax


235.23


129.37


218.40


774.26




 Exceptional Items (Net)


(18.18)


(1.65)


5.11


(21.13)




 Profit before Tax


217.05


127.72


223.51


753.13




 Tax Expense


(83.45)


(13.02)


(80.54)


(185.87)




 Net Profit after Tax


133.60


114.70


142.97


567.26




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


(5.46)


(43.14)


(1.16)


(10.76)




 Group Consolidated Net Profit (A)


128.14


71.56


141.81


556.50




 Attributable to :




















 Owners of the Parent


116.24


59.45


124.44


495.56




 Non Controlling Interest


11.90


12.11


17.37


60.94




 Other Comprehensive Income




















 i) Items that will not be reclassified to profit or loss (Net of tax)




















 Remeasurement of the defined benefit plans


25.88


16.33


17.02


59.97




 Changes in fair valuation of equity instruments


3.06


(0.99)


8.98


59.40




  


28.94


15.34


26.00


119.37




 ii) Items that will be reclassified to profit or loss (Net of tax)




















 Exchange differences on translation of foreign operations


(0.13)


208.69


111.23


407.80




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


2.20


(9.01)


(11.33)


(21.86)




  


2.07


199.68


99.90


385.94




 Total Other Comprehensive Income, net of tax  (B)


31.01


215.02


125.90


505.31




 Attributable to :




















 Owners of the Parent


31.63


181.05


109.88


436.30




 Non Controlling Interest


(0.62)


33.97


16.02


69.01




 Total Comprehensive Income (A+B)


159.15


286.58


267.71


1061.81




 Attributable to :




















 Owners of the Parent


147.87


240.50


234.32


931.86




 Non Controlling Interest


11.28


46.08


33.39


129.95




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


63.11


63.11


63.11


63.11




 Reserves excluding Revaluation Reserve














6946.63




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


1.84


0.94


1.97


7.85



 




               
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, 2018
Rs. in Crores



Particulars


  Three months ended


 Year ended




June 30,

2018


March 31, 2018


 June 30,

2017


 March

31, 2018




Unaudited


Refer Note 5


Unaudited


Audited




Segment Revenue




















Branded Business




















(a) Tea


1314.31


1177.24


1245.66


4922.79




 (b) Coffee


291.66


286.44


249.85


1079.52




 (c) Others


10.16


9.67


8.87


35.73




Total Branded Business


1616.13


1473.35


1504.38


6038.04




Non Branded Business


192.85


219.47


209.36


815.17




Total Segment Revenue


1808.98


1692.82


1713.74


6853.21




Less: Inter segment Sales


(6.39)


(4.42)


(9.32)


(37.86)




Revenue from Operations


1802.59


1688.40


1704.42


6815.35




Segment Results




















Branded Business




















(a) Tea


210.02


147.06


183.12


689.72




(b) Coffee


43.50


43.33


40.10


197.63




(c) Others


(3.75)


(6.87)


(3.17)


(18.24)




Total Branded Business


249.77


183.52


220.05


869.11




Non Branded Business


17.70


(10.30)


30.73


41.71




Total Segment Results


267.47


173.22


250.78


910.82




Add/Less




















Finance Costs


(12.57)


(13.58)


(11.06)


(42.76)




Other Unallocable items, Other Income & Exceptional Items


(37.85)


(31.92)


(16.21)


(114.93)




Profit Before Tax


217.05


127.72


223.51


753.13




Segment Assets




















Branded Business




















 (a) Tea


4339.96


4420.96


4172.69


4420.96




 (b) Coffee


1909.08


1772.84


1764.16


1772.84




 (c) Others


34.92


47.41


40.56


47.41




Total Branded Business


6283.96


6241.21


5977.41


6241.21




Non Branded Business


1316.07


1255.68


1021.10


1255.68




Total Segment Assets


7600.03


7496.89


6998.51


7496.89




Unallocable Corporate Assets


3142.56


3095.32


2857.08


3095.32




Total Assets


10742.59


10592.21


9855.59


10592.21




Segment Liabilities




















Branded Business




















(a) Tea


783.01


794.52


792.87


794.52




(b) Coffee


177.96


163.78


165.31


163.78




(c) Others


4.78


18.18


14.65


18.18




Total Branded Business


965.75


976.48


972.83


976.48




Non Branded Business


132.57


140.35


130.38


140.35




Total Segment Liabilities


1098.32


1116.83


1103.21


1116.83




Unallocable Corporate Liabilities


1455.44


1434.74


1315.20


1434.74




Total Liabilities


2553.76


2551.57


2418.41


2551.57



 



Notes:












































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.




























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 branded 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.




































The segment wise revenue, results, assets and liabilities figures relate to the respective amounts directly attributable or reasonably allocable to each of the segments. Finance costs are excluded from segment results. Unallocable items include expenses incurred on common services at the corporate level, other income, exceptional items and corporate assets/liabilities which are not attributable or reasonably allocable to the segments.
 
 
 
 
 











 






















 





 














Ajoy Misra






 





 


Mumbai: August 1, 2018










(Managing Director and CEO)






 





 






















 















 



 




 
  Notes:
1.   For the quarter, Revenue from branded business increased by 7% and after excluding the impact of business restructuring and at constant currency the increase is 8%, as compared to the corresponding quarter of the previous year. The reported Revenue from operations grew by 6% due to lower sales from the non-branded business. Profit before exceptional items at Rs 235 Crores is higher by 8% as compared to corresponding quarter of the previous year mainly due to improved performance of branded business and higher other income partly offset by adverse performance of non-branded business. The Group net profit for the quarter is lower due to the impact of exceptional items.
2.   Exceptional items for the current quarter represent redundancy costs relating to internal restructure. Exceptional items for the corresponding quarter of the previous year represent a gain from disposal of stake in its Chinese subsidiary.
3.   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 Company's standalone financial results are given below :
 




In Rs Crores


Three months ended


Year ended




June 30,
2018


March 31, 2018


June 30,
2017


March 31,
2018





Total Income 


968.50


738.75


904.46


3364.90




Profit before Tax


215.84


77.96


214.60


723.47




Profit after Tax


147.71


53.16


152.48


534.32




Total Comprehensive Income


154.17


52.82


160.86


598.45




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


2.35


0.84


2.42


8.47



 
 
 
 
 
 
 
 
 
 
 
4.     Effective April 1, 2018, the Group has adopted Ind AS 115 using the cumulative effect method and the comparative information is not restated. The adoption of the standard did not have any material impact on the results of the Group.
5.     Figures for the quarter ended March 31, 2018 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.
6.     The aforementioned results were reviewed by the Audit Committee of the Board on July 31, 2018 and subsequently taken on record by the Board of Directors at its Meeting held on August 1, 2018. The Statutory Auditors of the Company have conducted limited review on these results.
7.     The Consolidated and Standalone result for the quarter ended June 30, 2018 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).
 
In terms of our report attached



For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
Firm's Registration No. 117366W/W-100018
 
 
 
 
Sanjiv V. Pilgaonkar
Partner
Membership No. 039826
Mumbai: August 1, 2018 


 
 
 
 
Ajoy Misra
Managing Director and CEO



 




 




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
QRFGGUWGRUPRGUC