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Consumer Defensives
Size
Large Cap
Market Cap £4.08bn
Enterprise Value £4.09bn
Revenue £982.9m
Position in Universe 75th / 2996

Tata Global Bev.Ltd - Annual Financial Report

Thu 1st June, 2017 2:07pm
RNS Number : 8949G
Tata Global Beverages Limited
01 June 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 and year ended March 31, 2017

Rs. in Crores

Particulars

Unaudited Three months ended

Audited Year ended

March
31, 2017

December
31, 2016

March
31, 2016

March
31, 2017

March 31, 2016

Revenue from Operations

696.57

3063.89

Other Income

14.37

96.34

Total Income

710.94

3160.23

Cost of materials consumed

464.52

1867.72

Purchase of stock-in-trade

8.41

23.03

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

(60.98)

(1.79)

Employees benefits expense

45.41

187.82

Finance costs

9.70

49.10

Depreciation and amortisation expense

6.32

23.70

Advertisement and sales charges

66.43

221.37

Other expenses

107.98

403.09

Total Expenses

647.79

2774.04

Profit before Exceptional Items and Tax

63.15

386.19

Exceptional Items (Net)

-

-

Profit before Tax

63.15

386.19

Tax Expense

(19.19)

(24.30)

(8.69)

(110.19)

(90.39)

Net Profit after Tax (A)

43.96

276.00

Other Comprehensive Income



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



Remeasurement of defined benefit plans

(3.39)

(17.58)

Changes in fair valuation of equity instruments

110.57

255.55


107.18

237.97

ii) Items that will be reclassified to profit or loss



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

0.81

2.21

Other Comprehensive Income (Net of tax) (B)

107.99

240.18

Total Comprehensive Income (A+B)

151.95

516.18

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

63.11

63.11

Reserves excluding Revaluation Reserves


3699.58

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

0.70

4.37

Notes:

1. The Company has adopted, Indian Accounting Standards (Ind AS) from 1st April 2016. Financial results of all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS.

2. (a) For the quarter as well as for the year, Revenue from operations increased over corresponding figures of the previous year reflecting improved performance in the branded tea operations. For the quarter, the benefit of lower commodity costs and sales improvements have been offset by higher expenditure on advertisement and sales charges , resulting in a decrease in profit from operations.

Reconciliation of Profit before tax and exceptional items to Profit from operations is given below:

In Rs. Crores

Three months ended

Year ended

March 31, 2017

December 31, 2016

March 31,

2016

March 31,

2017

March 31, 2016

Profit before Exceptional Items and Tax

63.15

96.76

73.98

386.19

380.10

Less : Other income

(14.37)

(18.24)

(26.33)

(96.34)

(111.48)

Add : Finance cost

9.70

12.43

23.48

49.10

67.71

Profit from Operations

58.48

90.95

71.13

338.95

336.33

Profit after tax, for the quarter as well as for the year, records an improvement over the previous year's levels mainly due to lower exceptional expenditure and finance costs.

(b) Profit after tax of the previous year as well as of the corresponding quarter of the previous year as reported under previous GAAP had profit from sale of equity investments of Rs. 327.79 crores, which under Ind AS has been accounted under retained earnings.

3. Exceptional item for the previous year represents provision for impairment/obligations relating to a subsidiary company of Rs 52 crores, provision for impairment of intangible of Rs. 7 crores , levy relating to past demerged business of Rs 3 crores and provision for retrospective amendment of legislation relating to employee benefit of Rs 1 crore.

4. (a) Reconciliation between standalone financial results, as previously reported referred to as previous GAAP and Ind AS are as under:



Adjustments under Ind AS

For the Quarter

In Rs. Crores

Previous GAAP

Revenue

(Note i)

Effective interest method for debenture redemption premium

Profit on sale of equity investments (Note ii)

Others

(Note iii)

Ind AS

March 31, 2016


March 31,

2016

Revenue from Operations

700.18

(23.43)

-

-

-

676.75

Profit from Operations

65.01

-

-

-

6.12

71.13

Net Profit after Tax

336.50

-

(4.32)

(327.79)

1.65

6.04


Adjustments under Ind AS

For the Year

In Rs. Crores

Previous GAAP

Ind AS

March 31, 2016


March 31, 2016

Revenue from Operations

3083.92

-

2986.79

Profit from Operations

319.44

336.33

Net Profit after Tax

563.67

226.49

Note i - Expenditure required to be offset from sales on account of measurement criteria for Revenue.

Note ii - Profit on sale of equity investments is derecognized, as these instruments are fair valued at period ends under Ind AS.

Note iii - Others mainly include agricultural produce required to be fair valued, impact of actuarial gain/ losses and impact of fair value measurement of financial instruments.

(b) Equity reconciliation as at March 31, 2016 and March 31, 2015:

In Rs. Crores

Notes

Year Ended

March 31, 2016

March 31, 2015

Equity as per previous GAAP


2895.90

2500.38

Fair value of equity instrument

(a)

359.53

822.88

Reversal of proposed dividend including tax

(b)

171.72

171.72

Effective interest method for debenture redemption premium


10.78

27.26

Others


(1.25)

(2.28)

Total Transition Adjustments


540.78

1019.58

Equity as per Ind AS


3436.68

3519.96

Note (a): Under Ind AS, equity instruments are measured at fair values.

Note (b): Under Ind AS, proposed dividends are only recognized when approved by the shareholders in the general meeting

5. With effect from 1st April 2016, 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.

6. Figures of the quarter ended March 31, 2017 and March 31, 2016 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. Statement of Assets and Liabilities as at March 31, 2017 along with comparatives is annexed.

8. The Board of Director has recommended a dividend payment of Rs. 2.35 per share (Face Value Re 1 each) for the year ended March 31, 2017.

9. The aforementioned results were reviewed by the Audit Committee of the Board on May 29, 2017 and subsequently taken on record by the Board of Directors at its meeting held on May 30, 2017. The Statutory Auditors of the Company have audited these results.


Harish Bhat

Mumbai, May 30, 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

Audited Statement of Assets and Liabilities as at March 31, 2017

Rs. in Crores


2017

2016

As at 1st April 2015

ASSETS




Non-Current Assets




Property, Plant and Equipment

197.76

182.50

168.17

Investment Property

0.69

0.71

0.73

Capital work-in-progress

11.50

10.10

11.28

Intangible Assets

16.03

16.05

24.43

Financial Assets




Investments

2903.97

2624.49

3055.36

Loans

24.73

24.75

30.68

Other Financial Assets

21.07

20.47

21.64

Deferred Tax Assets (Net)

38.86

73.61

28.30

Non-Current Tax Assets (Net)

62.89

44.64

33.28

Other Non-Current Assets

76.69

74.29

74.30


3354.19

3071.61

3448.17

Current Assets




Inventories

764.19

890.00

819.59

Financial Assets




Investments

67.70

173.33

10.92

Trade Receivables

99.62

109.70

83.11

Cash and Cash Equivalents

13.76

59.57

4.13

Other Bank Balances

7.02

6.30

6.05

Loans

11.97

14.31

27.03

Other Financial Assets

26.80

40.09

32.80

Other Current Assets

53.23

54.48

39.22


1044.29

1347.78

1022.85

TOTAL ASSETS

4398.48

4419.39

4471.02

EQUITY AND LIABILITIES




Equity




Equity share capital

63.11

63.11

61.84

Other Equity

3721.44

3373.57

3458.12

TOTAL EQUITY

3784.55

3436.68

3519.96

Share Suspense Account

-

-

1.27

Non-Current Liabilities




Financial Liabilities




Borrowings

-

-

357.48

Others Financial Liabilities

-

1.25

4.64

Provisions

130.87

177.87

114.02


130.87

179.12

476.14

Current Liabilities




Financial Liabilities




Borrowings

32.26

52.61

152.50

Trade Payables

244.33

174.92

133.37

Other Financial Liabilities

88.06

467.42

80.22

Other Current Liabilities

72.32

71.73

73.25

Provisions

46.09

36.91

34.31


483.06

803.59

473.65

TOTAL EQUITY AND LIABILITIES

4398.48

4419.39

4471.02

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 and year ended March 31, 2017

Rs. in Crores

Particulars

Unaudited Three months ended

Audited Year ended

March 31, 2017

December 31, 2016

March 31, 2016

March 31, 2017

March 31, 2016

Revenue from Operations

1674.26

1743.86

1598.35

6779.55

6636.54

Other Income

16.82

14.30

26.34

83.10

82.00

Total Income

1691.08

1758.16

1624.69

6862.65

6718.54

Cost of Materials Consumed

791.52

848.47

789.19

3205.82

3312.52

Purchase of stock in trade

117.18

114.26

74.70

356.44

288.97

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

(77.45)

(28.18)

(18.47)

(0.69)

20.11

Employee Benefits Expense

213.21

204.33

198.99

834.95

805.06

Finance Costs

24.77

21.57

44.43

91.53

116.90

Depreciation and Amortisation Expenses

31.20

31.08

24.61

126.04

116.79

Advertisement and Sales charges

165.86

179.10

134.00

584.65

577.52

Other Expenses

285.03

241.89

259.89

1007.25

978.03

Total Expenses

1551.32

1612.52

1507.34

6205.99

6215.90

Profit before Exceptional Items and Tax

139.76

145.64

117.35

656.66

502.64

Exceptional Items (Net)

(42.50)

49.54

(314.76)

5.30

(332.88)

Profit before Tax

97.26

195.18

(197.41)

661.96

169.76

Tax Expense

(12.90)

(50.32)

(52.22)

(198.31)

(200.01)

Net Profit after Tax

84.36

144.86

(249.63)

463.65

(30.25)

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

(33.24)

(0.32)

(19.27)

(8.85)

(6.84)

GROUP CONSOLIDATED NET PROFIT (A)

51.12

144.54

(268.90)

454.80

(37.09)

Attributable to :





Owners of the Parent

31.41

127.63

(216.07)

389.44

(5.52)

Non Controlling Interest

19.71

16.91

(52.83)

65.36

(31.57)

Other Comprehensive Income






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






Remeasurement of the defined benefit plan

30.96

15.52

(28.23)

10.24

(51.49)

Changes in fair valuation of equity instruments

112.46

(26.62)

(46.63)

259.37

(137.10)

143.42

(11.10)

(74.86)

(188.59)

ii) Items that will be reclassified to profit and loss





Exchange differences on translation of foreign operations

(144.98)

66.12

(58.83)

(567.36)

150.49

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

8.36

(18.70)

(4.48)

19.78

(9.14)


(136.62)

47.42

(63.31)

141.35

Total Other Comprehensive Income, net of tax (B)

6.80

36.32

(138.17)

(47.24)

Attributable to :





Owners of the Parent

20.59

42.23

(129.10)

(198.83)

(67.16)

Non Controlling Interest

(13.79)

(5.91)

(9.07)

(79.14)

19.92

Total Comprehensive Income (A+B)

57.92

180.86

(407.07)

(84.33)

Attributable to :





Owners of the Parent

52.00

169.86

(345.17)

190.61

(72.68)

Non Controlling Interest

5.92

11.00

(61.90)

(13.78)

(11.65)

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

6162.20

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

0.50

2.02

(3.42)

6.17

(0.09)

Notes:

1. The Company has adopted, Indian Accounting Standards (Ind AS) from April 1, 2016. Financial results of all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS.

2. (a) For the quarter, Income from operations at Rs 1674 Crores increased by 5% as compared to corresponding quarter of the previous year. At previous year exchange rate the increase is 7%. For the year, income from operations at Rs 6780 Crores increased by 2% as compared to the corresponding year. At previous year exchange rate the increase is 3%.

For the quarter, Profit from operations at Rs 148 Crores is higher by 9% as compared to the corresponding quarter of the previous year despite higher advertising spends. For the year, profit from operations at Rs 665 Crores is higher by 24%. The improvements in operating profits reflect higher sales, good cost management and lower commodity costs.

Reconciliation of Profit before tax and exceptional items to Profit from operations is given below:

Rs in Crores

Three months ended

Year ended

March 31, 2017

December 31, 2016

March 31, 2016

March 31, 2017

March 31, 2016

Profit before Exceptional Items and Tax

139.76

145.64

117.35

656.66

502.64

Less : Other income

(16.82)

(14.30)

(26.34)

(83.10)

(82.00)

Add : Finance cost

24.77

21.57

44.43

91.53

116.90

Profit from Operations

147.71

152.91

135.44

665.09

537.54

Group Consolidated net profit for the quarter as well for the year record significant growth due to improved operating performance and lower level of exceptional expenditure.

(b) Profit after tax of the previous year as well as of the corresponding quarter of the previous year as reported under previous GAAP had profit from sale of equity investments of Rs 327.79 Crores, which under Ind AS have been accounted under retained earnings.

3. The financial results includes following under Exceptional items:

Rs in Crores

Particulars

Three months ended

Year ended

March 31 2017

March 31 2016

March 31 2017

March 31 2016

Gain on conversion of a Joint Venture into a subsidiary*

-

-

50

-

Impairment of intangible / other assets**

(27)

(288)

(27)

(288)

Reorganisation and Restructuring cost

(9)

(9)

(11)

(19)

Loss on assets held for sale ***

(7)

-

(7)

-

Acquisition related expenditure

-

(13)

-

(13)

Provision for retrospective amendment of legislation relating to employee benefits

-

-

-

(5)

Levy relating to past demerged business

-

-

-

(3)

Other exceptional items

-

(5)

-

(5)

Income / (Expenditure)(net)

(43)

(315)

5

(333)



* Represent a gain, based on fair valuation, determined as per Ind AS 103 - Business Combinations, arising out of the conversion of an overseas joint venture to a subsidiary pursuant to amendments in the operating agreement.

** Represents non-cash impairment loss mainly on goodwill relating to branded business in Australia. While the Group is actively pursuing various growth opportunities, the accounting impairment has been recognised due to factors like decline in category growth rate and higher competitive intensity.

*** Represent write down of net assets, relating to a business in East Europe, classified as held for sale.

4. (a) Reconciliation between consolidated financial results for the quarter and year ended March 31, 2016, as previously reported referred to as previous GAAP and Ind AS are as under:



Adjustments under Ind AS


For the Quarter

Rs in Crores

Previous GAAP

Revenue

(Note i)

Equity Accounting

of JV results

Fair

valuation

of

Agricultural Produce

Effective interest

method for debenture redemption premium

Profit on sale of equity investments

(Note ii)

Others

(Note iii)

Ind AS

March

31, 2016

March 31, 2016

Revenue from Operations

1965.57

(209.73)

(147.49)

-

-


(10.00)

1598.35

Profit from Operations

132.15

-

1.41

(5.88)

-


7.76

135.44

Group Consolidated Net Profit before Minority interest

85.04

-

(0.20)

(5.88)

(4.32)

(327.79)

(15.75)

(268.90)



Adjustments under Ind AS


Year ended

Rs in Crores

Previous GAAP

Revenue

(Note i)

Equity Accounting

of JV results

Fair

Valuation

of Agricultural Produce

Effective interest

method for debenture redemption premium

Profit on sale of equity investments

(Note ii)

Others

(Note iii)

Ind AS

March

31, 2016

March 31, 2016

Revenue from Operations

8110.51

(843.48)

(620.49)

-

-


(10.00)

6636.54

Profit from Operations

531.73

-

10.71

(32.45)

-

-

28.25

537.54

Group Consolidated Net Profit before Minority interest

333.63

-

(1.90)

(24.73)

(16.48)

(327.79)

0.18

(37.09)

Note i - Expenditure required to be offset from sales on account of measurement criteria for Revenue.

Note ii - Profit on sale of equity investments is de-recognized, as these instruments are fair valued at period ends under Ind AS and profit or loss recognised under Other comprehensive income.

Note iii - Others mainly include expenditure capitalised, depreciation & amortisation adjustments and impact on the results of Associates mainly on account of fair valuation of agricultural produce.

(c) Equity reconciliation as at March 31, 2016 and March 31, 2015:

Rs in Crores

Note

Year Ended

March 31, 2016

March 31, 2015

Equity as per previous GAAP


6599.61

6367.73





Fair value of equity instrument

(a)

336.23

801.57

Reversal of proposed dividend including tax

(b)

186.99

186.99

Others


(13.89)

18.71

Total Transition Adjustments


509.33

1007.27





Equity as per Ind AS


7108.94

7375.00

Note (a): Under Ind AS, equity instruments are measured at fair values.

Note (b): Under Ind AS, proposed dividends are only recognised when approved by the shareholders in the general meeting.

5. 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

Three months ended

Year ended

March 31, 2017

December 31, 2016

March 31, 2016

March 31, 2017

March 31, 2016

Total Income

710.94

804.67

703.08

3160.23

3098.27

Profit before Tax

63.15

96.76

14.73

386.19

316.88

Profit after Tax [refer note 2 (b)]

43.96

72.46

6.04

276.00

226.49

Total Comprehensive Income

151.95

44.89

(42.15)

516.18

79.82

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

0.70

1.15

0.10

4.37

3.59

6. Figures for the quarter ended March 31, 2017 and March 31, 2016 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. Consolidated Statement of Asset and Liabilities as at March 31, 2017 along with comparatives is annexed.

8. The Board of Directors has recommended a dividend payment of Rs. 2.35 per share (Face value Re. 1 each) for the year ended March 31, 2017.

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

10. The aforementioned results were reviewed by the Audit Committee of the Board on May 29, 2017 and subsequently taken on record by the Board of Directors at its Meeting held on May 30, 2017. The Statutory Auditors of the company have audited the annual results.

11. The Consolidated and Standalone result for the year ended March 31, 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 ).


Harish Bhat

Mumbai: May 30, 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 and year ended March 31, 2017

Rs. in Crores

Particulars

Unaudited Three months ended

Audited Year ended

March 31, 2017

December 31, 2016

March 31, 2016

March 31, 2017

March 31,

2016

Segment Revenue






Branded Business






(a) Tea

1185.27

1238.73

1111.39

4803.48

4715.58

(b) Coffee

270.34

289.82

290.92

1117.84

1118.82

(c) Others

11.16

9.05

7.71

35.96

28.87

Total Branded Business

1466.77

1537.60

1410.02

5957.28

5863.27

Non Branded Business

224.42

225.54

199.17

890.05

815.58

Total Segment Revenue

1691.19

1763.14

1609.19

6847.33

6678.85

Less: Inter segment Sales

(16.93)

(19.28)

(10.84)

(67.78)

(42.31)

Income from Operations

1674.26

1743.86

1598.35

6779.55

6636.54

Segment Results






Branded Business






(a) Tea

112.96

143.55

137.07

577.72

578.58

(b) Coffee

48.54

30.85

37.32

178.92

129.51

(c) Others

(7.26)

(6.23)

(10.40)

(22.11)

(27.57)

Total Branded Business

154.24

168.17

163.99

734.53

680.52

Non Branded Business

46.09

28.66

23.90

136.97

72.00

Total Segment Results

200.33

196.83

187.89

871.50

752.52

Add/Less






Finance Cost

(24.77)

(21.57)

(44.43)

(91.53)

(116.90)

Other Unallocable items, Other Income & Exceptional Items

(78.30)

19.92

(340.87)

(118.01)

(465.86)

Profit Before Tax

97.26

195.18

(197.41)

661.96

169.76

Segment Assets






Branded Business






(a) Tea

4145.91

4652.28

4403.46

4145.91

4403.46

(b) Coffee

1763.13

1876.60

1843.32

1763.13

1843.32

(c) Others

44.81

44.03

32.59

44.81

32.59

Total Branded Business

5953.85

6572.91

6279.37

5953.85

6279.37

Non Branded Business

965.55

913.43

901.79

965.55

901.79

Total Segment Assets

6919.40

7486.34

7181.16

6919.40

7181.16

Unallocable Corporate Assets

2665.48

2822.86

2830.44

2665.48

2830.44

Total Assets

9584.88

10309.20

10011.60

9584.88

10011.60

Segment Liabilities






Branded Business






(a) Tea

795.74

832.61

796.93

795.74

796.93

(b) Coffee

178.62

209.16

164.39

178.62

164.39

(c) Others

40.42

24.20

13.08

40.42

13.08

Total Branded Business

1014.78

1065.97

974.40

1014.78

974.40

Non Branded Business

111.25

116.14

100.10

111.25

100.10

Total Segment Liabilities

1126.03

1182.11

1074.50

1126.03

1074.50

Unallocable Corporate Liabilities

1273.85

1953.80

1828.16

1273.85

1828.16

Total Liabilities

2399.88

3135.91

2902.66

2399.88

2902.66

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. This complies with Ind AS - 108 - Segment reporting principles, and is made effective from 1st April, 2015.

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.


Harish Bhat

Mumbai: May 30, 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

Audited Consolidated Statement of Assets and Liabilities as at March 31, 2017

Rs. in Crores


2017

2016

April 1, 2015

ASSETS




Non-Current Assets




Property Plant and Equipment

698.17

731.37

666.57

Capital Work in Progress

60.36

33.12

33.91

Investment Property

68.66

70.09

71.18

Goodwill

3497.91

3709.55

3804.30

Other Intangible Assets

307.85

220.88

269.72

Intangible Assets under Development

2.83

6.30

4.19

Investments accounted for using Equity method

345.36

438.30

426.51

Financial Assets




Investments

939.33

684.22

1157.23

Loans

58.70

58.72

109.70

Other Financial Assets

37.67

39.87

36.49

Deferred Tax Assets (Net)

61.98

116.84

71.18

Non-current Tax Assets (net)

62.89

44.64

33.28

Other Non Current Assets

81.69

115.18

74.74


6223.40

6269.08

6759.00

Current Assets




Inventories

1452.96

1629.01

1562.10

Financial Assets




Investments

166.35

173.33

11.71

Trade Receivables

592.45

592.43

581.09

Cash and Cash Equivalent

565.72

492.87

554.80

Other Bank balances

9.10

8.16

7.71

Loans

277.57

601.18

585.12

Other Financial Assets

81.08

79.47

81.14

Current Tax Assets (net)

13.98

7.99

9.70

Other Current Assets

150.44

158.08

126.63


3309.65

3742.52

3520.00

Assets of disposal group

51.83

-

-

TOTAL ASSETS

9584.88

10011.60

10279.00

EQUITY AND LIABILITIES




Equity



Equity Share Capital

63.11

63.11

61.84

Other Equity

6202.39

6184.06

6422.42

Equity attributable to the equity holders of the company

6265.50

6247.17

6484.26

Non Controlling Interest

919.50

861.77

890.74

Total Equity

7185.00

7108.94

7375.00

Share Suspense Account

-

-

1.27

Non-Current Liabilities




Financial Liabilities




Borrowings

450.10

504.12

914.36

Other Financial Liabilities

6.71

7.33

11.63

Provisions

208.97

291.76

249.28

Deferred Tax Liabilities (Net)

207.36

195.41

160.98


873.14

998.62

1336.25

Current Liabilities




Financial Liabilities




Borrowings

320.23

408.56

385.92

Trade Payables

737.76

677.30

688.62

Other Financial Liabilities

244.08

636.86

303.67

Other Current Liabilities

78.57

74.79

75.43

Provisions

115.85

100.64

94.43

Current Tax Liabilities (net)

4.50

5.89

18.41


1500.99

1904.04

1566.48

Liabilities of disposal group

25.75

-

-

TOTAL EQUITY AND LIABILITIES

9584.88

10011.60

10279.00


This information is provided by RNS
The company news service from the London Stock Exchange
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