12 Aug 2021 11:25
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Financial Results for the quarter ended June 30, 2021
Rs. in Crores
Particulars | Three months ended | Year ended | ||
June 30, 2021 | March 31, 2021 | June 30, 2020 | March 31, 2021 | |
Unaudited | Refer Note 5 | Unaudited | Audited | |
Revenue from Operations | 3008.46 | 3037.22 | 2713.91 | 11602.03 |
Other Income | 28.01 | 42.96 | 32.71 | 121.38 |
Total Income | 3036.47 | 3080.18 | 2746.62 | 11723.41 |
Cost of Materials Consumed | 1313.64 | 1322.93 | 1013.85 | 4937.45 |
Purchase of stock in trade | 542.68 | 533.70 | 533.32 | 2114.40 |
Changes in inventories of finished goods, work in progress and stock in trade | (73.91) | (10.65) | (46.55) | (149.54) |
Employee Benefits Expense | 265.41 | 270.22 | 229.05 | 970.23 |
Finance Costs | 20.43 | 15.45 | 17.28 | 68.69 |
Depreciation and Amortisation Expense | 66.79 | 65.87 | 61.90 | 254.74 |
Advertisement and Sales charges | 158.21 | 216.42 | 133.76 | 726.27 |
Other Expenses | 402.94 | 404.40 | 367.83 | 1459.46 |
Total Expenses | 2696.19 | 2818.34 | 2310.44 | 10381.70 |
Profit before Exceptional Items and Tax | 340.28 | 261.84 | 436.18 | 1341.71 |
Exceptional Items (Net) | (3.92) | (63.93) | 63.31 | (30.65) |
Profit before Tax | 336.36 | 197.91 | 499.49 | 1311.06 |
Tax Expense |
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Current tax | (61.16) | (25.71) | (27.10) | (98.16) |
Deferred tax | (34.55) | (38.86) | (83.30) | (219.11) |
Total Tax Expense (Net) | (95.71) | (64.57) | (110.40) | (317.27) |
Net Profit after Tax | 240.65 | 133.34 | 389.09 | 993.79 |
Share of net profit/(loss) in Associates and Joint Ventures using equity method | (40.41) | (58.99) | (43.54) | (63.33) |
Group Consolidated Net Profit (A) | 200.24 | 74.35 | 345.55 | 930.46 |
Attributable to : |
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Owners of the Parent | 185.15 | 53.90 | 327.56 | 856.69 |
Non Controlling Interest | 15.09 | 20.45 | 17.99 | 73.77 |
Other Comprehensive Income |
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i) Items that will not be reclassified to profit or loss |
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Remeasurement of the defined benefit plans | (1.39) | (9.57) | (61.73) | (145.58) |
Changes in fair valuation of equity instruments | 1.39 | 0.94 | 1.60 | 5.88 |
| - | (8.63) | (60.13) | (139.70) |
Tax impact on above items | (12.25) | 1.54 | 7.14 | 22.06 |
| (12.25) | (7.09) | (52.99) | (117.64) |
ii) Items that will be reclassified to profit or loss |
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Exchange differences on translation of foreign operations | 123.03 | 47.45 | (10.22) | 262.68 |
Gains/(loss) on Effective portion of cash flow hedges | 34.04 | (14.43) | (38.27) | 3.56 |
| 157.07 | 33.02 | (48.49) | 266.24 |
Tax impact on above items | (11.11) | 5.62 | 8.25 | 0.82 |
| 145.96 | 38.64 | (40.24) | 267.06 |
Total Other Comprehensive Income (B) | 133.71 | 31.55 | (93.23) | 149.42 |
Attributable to : |
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Owners of the Parent | 112.42 | 28.22 | (80.85) | 127.49 |
Non Controlling Interest | 21.29 | 3.33 | (12.38) | 21.93 |
Total Comprehensive Income (A+B) | 333.95 | 105.90 | 252.32 | 1079.88 |
Attributable to : |
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Owners of the Parent | 297.57 | 82.12 | 246.71 | 984.18 |
Non Controlling Interest | 36.38 | 23.78 | 5.61 | 95.70 |
Paid-up equity share capital (Face value of Re 1 each) | 92.16 | 92.16 | 92.16 | 92.16 |
Reserves excluding Revaluation Reserve |
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| 14420.49 |
Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs | 2.01 | 0.58 | 3.55 | 9.30 |
Notes:
1. For the quarter, Revenue from operations increased by 11% (10% in constant currency) as compared to corresponding quarter of the previous year, mainly driven by growth of 28% in India Beverages and 20% in India Foods, International business reported lower revenue as previous year had Covid induced pantry stocking. Profit before exceptional items and tax at Rs 340 Crores is lower as previous year had the benefits of softer tea commodity cost in India and pantry stocking gains in the International business. Group Consolidated Net Profit is lower also on account of exceptional gains in the previous year.
2. Exceptional item for the current quarter mainly represent costs relating to the business restructure of Rs 4 Crores. Exceptional item for the corresponding quarter of the previous year represents gain of Rs 84 Crores on conversion of a Joint Venture into a Subsidiary and costs relating to the business integration Rs 21 Crores.
3. During the quarter ended June 30, 2021, the Group's performance was not adversely impacted by the Covid pandemic, except for some businesses, in particular, those in out of home consumption sectors. There can be future business uncertainties depending on developments in relation to the pandemic, which could include market closures, supply constraints and commodity cost volatility.
4. Share of profits/(loss) in Associates and Joint Ventures include the profits/(loss) of an Associate operating in North India plantations, which are seasonal in nature.
5. Figures of the quarter ended March 31, 2021 are the balancing figures between audited figures in respect of the full financial year and year to date figures up to the third quarter of the relevant financial year.
6. Previous period's figures have been regrouped / rearranged, to the extent necessary, to conform to current period's classifications.
7. The aforementioned results were reviewed by the Audit Committee of the Board on August 02, 2021 and subsequently taken on record by the Board of Directors at its Meeting held on August 03, 2021. The Statutory Auditors of the Company have conducted limited review on these results.
8. The Consolidated and Standalone result for the quarter ended June 30, 2021 are available on the BSE website (URL: www.bseindia.com), the National Stock Exchange website (URL: www.nseindia.com) and on the Company's website (URL: www.tataconsumer.com).
Sunil D'Souza
Managing Director and CEO
Mumbai: August 3, 2021
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Consolidated Segment wise Revenue, Results, Assets and Liabilities for the quarter ended June 30, 2021
Rs. in Crores
Particulars | Three months ended | Year ended | ||
June 30, 2021 | March 31, 2021 | June 30, 2020 | March 31, 2021 | |
Unaudited | Refer Note 5 | Unaudited | Audited | |
Segment Revenue |
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Branded Business |
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India - Beverages | 1267.09 | 1200.14 | 988.62 | 4561.55 |
India - Foods | 704.67 | 641.68 | 589.06 | 2441.69 |
International - Beverages | 767.58 | 879.91 | 879.22 | 3508.43 |
Total Branded Business | 2739.34 | 2721.73 | 2456.90 | 10511.67 |
Non Branded Business | 277.64 | 323.64 | 264.42 | 1122.17 |
Total Segment Revenue | 3016.98 | 3045.37 | 2721.32 | 11633.84 |
Others | 2.73 | 0.75 | 1.07 | 13.45 |
Less: Inter segment Sales | (11.25) | (8.90) | (8.48) | (45.26) |
Revenue from Operations | 3008.46 | 3037.22 | 2713.91 | 11602.03 |
Segment Results |
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Branded Business |
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India - Beverages | 150.73 | 50.90 | 212.14 | 487.87 |
India - Foods | 96.00 | 86.79 | 114.56 | 387.66 |
International - Beverages | 96.00 | 111.54 | 128.65 | 467.32 |
Total Branded Business | 342.73 | 249.23 | 455.35 | 1342.85 |
Non Branded Business | 18.63 | 38.47 | 13.95 | 90.89 |
Total Segment Results | 361.36 | 287.70 | 469.30 | 1433.74 |
Add/Less |
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Other Income | 24.54 | 26.45 | 29.29 | 95.82 |
Finance Cost | (20.43) | (15.45) | (17.28) | (68.69) |
Unallocable items | (25.19) | (36.86) | (45.13) | (119.16) |
Exceptional Items | (3.92) | (63.93) | 63.31 | (30.65) |
Profit Before Tax | 336.36 | 197.91 | 499.49 | 1311.06 |
Segment Assets |
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Branded Business |
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India - Beverages | 1897.09 | 2311.90 | 1528.56 | 2311.90 |
India - Foods | 6533.87 | 6442.40 | 6204.81 | 6442.40 |
International - Beverages | 5375.41 | 5206.59 | 5369.88 | 5206.59 |
Total Branded Business | 13806.37 | 13960.89 | 13103.25 | 13960.89 |
Non Branded Business | 1594.30 | 1577.24 | 1575.68 | 1577.24 |
Total Segment Assets | 15400.67 | 15538.13 | 14678.93 | 15538.13 |
Unallocable Corporate Assets | 4404.29 | 4717.74 | 4308.73 | 4717.74 |
Total Assets | 19804.96 | 20255.87 | 18987.66 | 20255.87 |
Segment Liabilities |
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Branded Business |
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India - Beverages | 1011.09 | 1309.12 | 706.19 | 1309.12 |
India - Foods | 326.00 | 293.77 | 243.15 | 293.77 |
International - Beverages | 718.26 | 756.98 | 762.96 | 756.98 |
Total Branded Business | 2055.35 | 2359.87 | 1712.30 | 2359.87 |
Non Branded Business | 183.01 | 174.35 | 158.34 | 174.35 |
Total Segment Liabilities | 2238.36 | 2534.22 | 1870.64 | 2534.22 |
Unallocable Corporate Liabilities | 2004.13 | 2094.61 | 1976.10 | 2094.61 |
Total Liabilities | 4242.49 | 4628.83 | 3846.74 | 4628.83 |
Notes:
a) The Group has organised business into Branded Segment and Non Branded Segment. Branded Segment is further sub-categorised as India Beverages, India Foods and International Beverages. Accordingly, the Group has reported its segment results for these segments. A business unit has been regrouped between the segments in the current year, the corresponding segment information for the comparative periods have been restated as per the requirements of Ind AS 108.
b) Business Segments: The internal business segmentation and the activities encompassed therein are as follows:
i) Branded Business -
India Beverages : Sale of branded Tea, Coffee and Water in various value added forms
India Foods : Sale of food products in various value added forms
International Beverages : Sale of branded Tea, Coffee and Water in various value added forms
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 excludes allocable income to segment results.
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Standalone Financial Results for the quarter ended June 30, 2021
Rs. in Crores
Particulars | Three months ended | Year ended | ||
| June 30, 2021 | March 31, 2021 | June 30, 2020 | March 31, 2021 |
| Unaudited | Refer note 5 | Unaudited | Audited |
Revenue from Operations | 1965.89 | 1850.06 | 1605.43 | 7154.36 |
Other Income | 146.23 | 28.72 | 45.70 | 133.01 |
Total Income | 2112.12 | 1878.78 | 1651.13 | 7287.37 |
Cost of materials consumed | 886.85 | 892.96 | 603.91 | 3421.65 |
Purchase of stock-in-trade | 416.94 | 363.65 | 340.15 | 1425.63 |
Changes in inventories of finished goods, work-in-progress & stock-in-trade | (20.11) | 22.65 | 5.62 | (116.90) |
Employees benefits expense | 88.36 | 92.18 | 71.77 | 321.58 |
Finance costs | 7.66 | 7.92 | 6.53 | 28.13 |
Depreciation and amortisation expense | 34.88 | 33.37 | 29.59 | 126.21 |
Advertisement and sales charges | 86.14 | 123.66 | 56.49 | 396.83 |
Other expenses | 233.79 | 212.91 | 201.81 | 787.00 |
Total Expenses | 1734.51 | 1749.30 | 1315.87 | 6390.13 |
Profit before Exceptional Items and Tax | 377.61 | 129.48 | 335.26 | 897.24 |
Exceptional Items (Net) | - | (14.43) | (21.00) | (61.10) |
Profit before Tax | 377.61 | 115.05 | 314.26 | 836.14 |
Tax Expense |
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Current Tax | (42.44) | (1.10) | (1.13) | 1.05 |
Deferred Tax | (31.43) | (32.26) | (80.82) | (217.68) |
Total Tax Expense (net of reversals) | (73.87) | (33.36) | (81.95) | (216.63) |
Net Profit after Tax (A) | 303.74 | 81.69 | 232.31 | 619.51 |
Other Comprehensive Income |
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i) Items that will not be reclassified to profit or loss |
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Remeasurement of defined benefit plans | (4.74) | 10.67 | (14.43) | (4.44) |
Changes in fair valuation of equity instruments | 1.39 | 0.93 | 1.60 | 5.87 |
| (3.35) | 11.60 | (12.83) | 1.43 |
Tax impact of above items | 1.19 | (3.79) | 3.63 | 0.01 |
| (2.16) | 7.81 | (9.20) | 1.44 |
ii) Items that will be reclassified to profit or loss |
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Gains/(loss) on effective portion of cash flow hedges | (0.05) | 1.43 | (0.84) | 2.62 |
Tax impact of above item | 0.01 | (0.36) | 0.21 | (0.66) |
| (0.04) | 1.07 | (0.63) | 1.96 |
Other Comprehensive Income (B) | (2.20) | 8.88 | (9.83) | 3.40 |
Total Comprehensive Income (A+B) | 301.54 | 90.57 | 222.48 | 622.91 |
Paid-up equity share capital (Face value of Re. 1 each) | 92.16 | 92.16 | 92.16 | 92.16 |
Reserves excluding Revaluation Reserves |
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| 11110.08 |
Earnings per share (Basic & Diluted) (not annualised for the quarter end)-Rs. | 3.30 | 0.89 | 2.52 | 6.72 |
Notes:
1. For the quarter, Revenue from operations increased by 22% over corresponding quarter of the previous year mainly due to volume and value growth in branded business. Profit before exceptional items at Rs 378 crores is higher by 13% as compared to corresponding quarter of previous year due to sales growth and higher dividend Income from Subsidiaries net of higher commodity costs and higher spends behind brands. Profit after tax is also higher by 31% over the corresponding quarter of previous year.
2. During the quarter ended June 30, 2021, the Company's performance was not adversely impacted by the Covid pandemic. There can be future business uncertainties depending on developments in relation to the pandemic, which could include market closures, supply constraints and commodity cost volatility.
3. Exceptional item for the previous quarter represent business integration costs of foods business.
4. In accordance with Ind AS 108 "Operating Segments", segment information has been given in the consolidated financial results, and therefore, no separate disclosure on segment information is given in these Standalone financial results.
5. Figures of the quarter ended March 31, 2021 is the balancing figures between audited figures in respect of the full financial year and year to date figures up to the third quarter of the relevant financial year.
6. Previous period's figures have been regrouped / rearranged, to the extent necessary, to conform to current period's classifications.
7. The aforementioned results were reviewed by the Audit Committee of the Board on August 2, 2021 and subsequently taken on record by the Board of Directors at its meeting held on August 3, 2021. The Statutory Auditors of the Company have conducted limited review on these results.
Sunil D'Souza
Managing Director and CEO
Mumbai: August 3, 2021