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Consumer Defensives
Size
Large Cap
Market Cap £5.10bn
Enterprise Value £5.09bn
Revenue £1.07bn
Position in Universe 57th / 2999

Tata Global Bev.Ltd - 1st Quarter Results

Tue 14th August, 2018 11:18am
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

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

             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.
 
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