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 - Annual Financial Report

Fri 26th April, 2019 1:46pm
RNS Number : 2817X
Tata Global Beverages Limited
26 April 2019
 

 

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, 2019

Rs. in Crores

Particulars

Three months ended

Year Ended

March 31, 2019

December 31, 2018

March 31, 2018

March 31, 2019

March 31, 2018

Refer Note 5

Unaudited

Refer Note 5

Audited

Audited

Revenue from Operations

1775.46

1912.58

1688.40

7251.50

6815.35

Other Income

35.23

22.59

25.72

157.13

94.15

Total Income

1810.69

1935.17

1714.12

7408.63

6909.50

Cost of Materials Consumed

813.05

861.77

797.56

3294.18

3203.22

Purchase of stock in trade

189.63

148.69

198.35

727.87

542.89

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

(30.34)

46.47

(56.13)

(14.41)

(46.80)

Employee Benefits Expense

203.01

205.14

210.70

806.30

821.37

Finance Costs

15.48

12.95

13.58

52.47

42.76

Depreciation and Amortisation Expense

32.98

29.62

28.47

122.57

116.04

Advertisement and Sales charges

129.59

155.23

135.28

547.52

508.91

Other Expenses

296.25

299.06

256.94

1104.13

946.85

Total Expenses

1649.65

1758.93

1584.75

6640.63

6135.24

Profit before Exceptional Items and Tax

161.04

176.24

129.37

768.00

774.26

Exceptional Items (Net)

(8.39)

                -  

(1.65)

(33.29)

(21.13)

Profit before Tax

152.65

176.24

127.72

734.71

753.13

Tax Expense (Net of reversal)

(58.83)

(54.92)

(13.02)

(260.88)

(185.87)

Net Profit after Tax

93.82

121.32

114.70

473.83

567.26

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

(57.83)

(12.43)

(43.14)

(16.85)

(10.76)

Group Consolidated Net Profit (A)

35.99

108.89

71.56

456.98

556.50

Attributable to :

 

 

 

 

 

Owners of the Parent

22.90

99.32

59.45

408.19

495.56

Non Controlling Interest

13.09

9.57

12.11

48.79

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

43.80

(13.19)

16.33

73.37

59.97

Changes in fair valuation of equity instruments

(10.47)

4.15

(0.99)

(5.37)

59.40

 

33.33

(9.04)

15.34

68.00

119.37

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

 

 

 

 

 

Exchange differences on translation of foreign operations

38.15

(288.81)

208.69

17.04

407.80

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

(4.60)

7.02

(9.01)

(11.18)

(21.86)

 

33.55

(281.79)

199.68

5.86

385.94

Total Other Comprehensive Income, net of tax  (B)

66.88

(290.83)

215.02

73.86

505.31

Attributable to :

 

 

 

 

 

Owners of the Parent

59.68

(248.06)

181.05

70.58

436.30

Non Controlling Interest

7.20

(42.77)

33.97

3.28

69.01

Total Comprehensive Income (A+B)

102.87

(181.94)

286.58

530.84

1061.81

Attributable to :

 

 

 

 

 

Owners of the Parent

82.58

(148.74)

240.50

478.77

931.86

Non Controlling Interest

20.29

(33.20)

46.08

52.07

129.95

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

63.11

63.11

63.11

63.11

63.11

Reserves excluding Revaluation Reserve

 

 

 

7246.72

6946.63

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

0.36

1.57

0.94

6.47

7.85

 

 

                Notes:

1.  For the quarter, Revenue from operations increased by 5%. At constant currency revenue growth is 2%. Profit before exceptional items and tax at Rs 161 Crores is higher by 24% as compared to corresponding quarter of the previous year mainly due to higher sales, lower commodity cost in International markets and improved performance of non-branded business partly offset by higher tea cost in India and discretionary/one off items. Tax expense for the quarter is not comparable to that of the corresponding quarter of the previous year due to one time tax credits which significantly reduced the tax expense for the prior quarter and due to adjustments to deferred tax assets during the current quarter. Share of losses from JVs/ Associates increased primarily due to the impact of seasonal and one off items. Resultantly, Group net profit reported a decline during the quarter.

2.  Exceptional item for the current quarter represent past service cost of Rs 8 Crores recognised for UK pension scheme based on recent judicial ruling in the UK. Exceptional items for the corresponding quarter of the previous year represent reorganisation and restructuring cost of Rs 12 Crores and gains on assets held for sale of Rs 10 Crores.

3.  Share of profits in Associates and Joint Ventures include results of an Associate, operating in North India plantations which are seasonal in nature.

4.  Effective April 1, 2018, the Group has adopted Ind AS 115 - Revenue from Contracts with Customers, 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, 2019 and 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.  Consolidated Statement of Asset and Liabilities as at March 31, 2019 along with comparatives is annexed.

7.  The Board of Directors has recommended a dividend payment of Rs. 2.50 per share (Face value Re. 1 each) for the year ended March 31, 2019.

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

9.  The aforementioned results were reviewed by the Audit Committee of the Board on April 22, 2019 and subsequently taken on record by the Board of Directors at its Meeting held on April 23, 2019. The Statutory Auditors of the Company have audited the annual results. 

10. The Consolidated and Standalone result for the quarter and year ended March 31, 2019 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: April 23, 2019 

 

 

 

 

 

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

 

Consolidated Segment wise Revenue, Results, Assets and Liabilities

 for the quarter and year ended March 31, 2019

Rs. in Crores 

Particulars

  Three months ended

  Year to Date ended

March 31, 2019

December 31, 2018

March 31, 2018

March 31, 2019

 March 31, 2018

Revenue from Operations

1775.46

1912.58

1688.40

7251.50

6815.35

Total Segment Results

205.46

213.44

173.22

893.07

910.82

Profit Before Tax

152.65

176.24

127.72

734.71

753.13

Total Assets

10938.72

11031.48

10592.21

10938.72

10592.21

Total Liabilities

2579.35

2783.80

2551.57

2579.35

2551.57

 

 

 

 

 

 

 

 

 

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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, unallocable other income and exceptional items.

 

 

 

 

 

 

 

 

 

 

Ajoy Misra

 

 

Mumbai: April 23, 2019

 

 

 

(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

 

Audited Consolidated Statement of Assets and Liabilities as at March 31, 2019

Rs. in Crores

TOTAL ASSETS

10938.72

10592.21

TOTAL EQUITY AND LIABILITIES

10938.72

10592.21

 

 

 

 

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, 2019

                                                                                                                                                                                                                                                Rs. in Crores

Particulars

Three months ended

Year ended

Year ended

 

 

 March 31

2019

 December 31

2018

 March 31

2018

 March 31

2019

March 31

2018

 

Refer Note 4

Unaudited

Refer Note 4

Audited

Audited

Revenue from Operations

                784.05

889.73

714.65

3429.66

3217.32

Other Income

                   26.61

21.85

24.10

            182.51

147.58

Total Income

                 810.66

911.58

738.75

3612.17

3364.90

Cost of materials consumed

                 500.86

562.67

              458.46

2055.97

1871.55

Purchase of stock-in-trade

                     8.25

4.81

                  7.65

              23.65

33.00

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

                 (30.85)

             (27.59)

              (49.93)

                0.16

             (1.67)

Employees benefits expense

                   49.67

55.99

                50.10

            216.85

208.13

Finance costs

                     3.24

3.56

                  3.52

              13.18

13.65

Depreciation and amortisation expense

                     8.73

7.91

                  7.32

              31.68

27.20

Advertisement and sales charges

                   62.85

54.62

                61.39

            226.55

216.12

Other expenses

                 134.21

125.25

              116.79

            468.21

388.81

Profit before Exceptional Items and Tax

                   73.70

124.36

83.45

            575.92

608.11

Exceptional Items (Net)

                        -  

                   -  

                (5.49)

                    -  

            115.36

Profit before Tax

                   73.70

             124.36

                77.96

            575.92

            723.47

Net Profit after Tax (A)

                   53.26

               89.66

                53.16

            410.93

            534.32

Other Comprehensive Income

 

 

 

 

 

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

 

 

 

 

 

Remeasurement of defined benefit plans

                     7.00

               (8.75)

                  5.59

                3.04

              12.58

 

                   (1.57)

               (4.83)

                  0.51

              (0.90)

              65.89

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

 

 

 

 

 

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

                     0.99

                5.28

                (0.85)

                2.75

              (1.76)

Other Comprehensive Income (Net of tax) (B)

                   (0.58)

                0.45

                (0.34)

                1.85

              64.13

Total Comprehensive Income (A+B)

                   52.68

               90.11

                52.82

            412.78

598.45

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

                   63.11

63.11

63.11

              63.11

63.11

Reserves excluding Revaluation Reserves

 

 

 

4358.71

4128.38

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

                     0.84

                1.42

                  0.84

                6.51

               8.47

 

 

 

Notes:

1. For the quarter, Revenue from operations at Rs. 784 crores increased by 10% over corresponding quarter of the previous year reflecting improved performance in the branded tea operations. Profit after tax was impacted on account of higher commodity costs and discretionary/one off items.

2. 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.

3. Effective April 1, 2018, the Company has adopted Ind AS 115 - Revenue from Contracts with Customers, 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 of the quarter ended March 31, 2019 and 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. Statement of Assets and Liabilities as at March 31, 2019 along with comparatives is annexed.

6. The Board of Directors has recommended a dividend payment of Rs. 2.50  per share (Face value Re. 1 each) for the year ended March 31, 2019.

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 April 22, 2019 and subsequently taken on record by the Board of Directors at its meeting held on April 23, 2019. The Statutory Auditors of the Company have audited 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: April 23, 2019

 

 

 

 

                     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

 

Audited Statement of Assets and Liabilities as at March 31, 2019

Rs. in Crores

 

As at March 31 2019

As at March 31 2018

ASSETS

 

 

Non-Current Assets

 

 

Property, Plant and Equipment

223.84

207.59

Capital work-in-progress

10.52

11.49

Investment Property

0.65

0.67

Intangible Assets

18.06

19.21

Intangible Assets under development

6.73

1.16

Financial Assets

 

 

Investments

2318.59

2284.28

Loans

16.77

20.44

Other Financial Assets

20.41

22.05

Deferred Tax Assets (Net)

33.86

99.01

Non-Current Tax Assets (Net)

63.38

42.90

Other Non-Current Assets

83.49

82.94

 

2796.30

2791.74

Current Assets

 

 

Inventories

846.91

744.40

Financial Assets

 

 

Investments

497.74

536.98

Trade Receivables

181.92

136.66

Cash and Cash Equivalents

408.96

232.80

Other Bank Balances

63.99

302.47

Loans

8.13

8.10

Other Financial Assets

37.42

34.09

Other Current Assets

163.08

104.93

 

2208.15

2100.43

TOTAL ASSETS

5004.45

4892.17

EQUITY AND LIABILITIES

 

 

Equity

 

 

Equity Share Capital

63.11

63.11

Other Equity

4380.57

4150.24

TOTAL EQUITY

4443.68

4213.35

Non-Current Liabilities

 

 

Provisions

115.25

109.65

 

115.25

109.65

Current Liabilities

 

 

Financial Liabilities

 

 

Borrowings

4.53

84.25

Trade Payables

 

 

Total outstanding dues of Micro enterprises
 and Small enterprises

3.50

4.17

Total outstanding dues of creditors other
than Micro enterprises and Small enterprises

235.92

244.29

Other Financial Liabilities

99.17

91.33

Other Current Liabilities

65.31

71.88

Provisions

20.65

47.30

Current Tax Liabilities (Net)

16.44

25.95

 

445.52

569.17

TOTAL EQUITY AND LIABILITIES

5004.45

4892.17

 


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
 
 
FR SELFEMFUSEDL
© 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.