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Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Audited Financial Results

for three months ended June 30, 2012

Rs. In Lakhs

Notes:

1. Total Operating Income for the quarter at Rs 570.08 crores grew by 10% over the corresponding quarter of the previous year driven mainly by higher volumes and better price realization. Profit from operations at Rs 75.83 crores is higher by 31% from the corresponding quarter of the previous year driven by improved performance of the branded tea operations.

2. Exceptional items during the quarter represent expenditure on new product development Rs 1.5 crs. Exceptional items for the previous period represent profit arising out of sale of non-core investments aggregating to Rs. 137.21 crores net of future payment under contractual obligation of Rs. 17.67 crores, estimated loss on discard of assets Rs 4.23 crores and provision for settlement of claims of Rs. 5.71 crores.

3. Earnings per share (EPS) (basic and diluted) for the quarter of Rs. 0.91 is lower than Rs 2.66 reported for the corresponding quarter of the previous year mainly due to the impact of exceptional items. Net of the impact of exceptional items, EPS (basic and diluted) for the current quarter is Rs. 0.92 as compared to Rs 0.74 for the corresponding quarter of the previous year.

4. As the Company's activity falls within a single business segment, viz "Buying / Blending and Sale of tea in bulk and value added form" the disclosure requirements of Accounting Standard (AS-17) on "Segment Reporting" notified by the Companies (Accounting Standard) Rules 2006, are not applicable.

5. Investor complaints :

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

7. The aforementioned results were reviewed by the Audit Committee of the Board on July 20, 2012 and subsequently taken on record by the Board of Directors at its Meeting held on July 23, 2012. The statutory auditors of the company have audited these results.

Ratan Tata

Mumbai, July 23, 2012 (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Unaudited Consolidated Financial Results

for the three months ended June 30, 2012

Rs. In Lakhs

Notes:

1. For the quarter, Income from operations at Rs 1725 crores increased by 18% year on year reflecting improved performance in most major markets coupled with favourable foreign exchange translation impact

2. Profit after finance costs and before exceptional items for the quarter at Rs 153 crores improved by 55% year on year mainly due to improved operating performance. Profit from ordinary activities before tax for the quarter at Rs 148 crores is lower due to the impact of exceptional items.

3. Exceptional items for the quarter represents cost incurred for long term initiatives and new projects of Rs 4 crores and reorganization cost relating to business restructuring of Rs 1 crores. In the corresponding period of the previous year exceptional items consisted of profit arising out of sale of non-core investments aggregating to Rs 137 crores offset by estimated loss on discard of assets Rs 4 crores, provision for future payment under contractual obligation of Rs 20 crores, redundancy costs incurred in relation to business restructure of Rs 14 crores, provision for settlement of claims Rs 6 crores and other business restructure/reorganisation costs of Rs 4 crores.

4. Earnings per share (EPS) (basic and diluted) for the quarter at Rs 1.26 is lower than the corresponding period of previous year by 52% mainly due to the impact of exceptional items. Net of the impact of exceptional items, EPS (basic and diluted) for the quarter at Rs 1.30 is higher by 55% as compared to the corresponding period of the previous year mainly due to improved operating performance.

5. For purposes of consolidated financial statements for the quarter and year ending 31 March 2012, the Group had changed its accounting policy for actuarial gains and losses relating to defined benefit pension scheme of overseas subsidiaries by accounting for such gains and losses in the Reserves instead of in the Statement of Profit and Loss, applying the accounting principles of consolidation under Accounting Standard 21 and the policy followed by the overseas subsidiaries and as recognised by the relevant overseas accounting framework. This practice is also followed by other companies and facilitates better inter-firm comparison.

The actuarial gains and losses on such defined benefit plans of overseas subsidiaries is ascertained based on annual actuarial valuation. The management of the overseas subsidiaries has estimated the actuarial losses of the pension scheme of Rs 14.60 crores for the quarter ended June 30, 2012 and accounted the same in the reserves. Had the accounting policy of recognising the actuarial gains and losses of pension scheme of the overseas subsidiaries in the statement of Profit and Loss been followed, the consolidated Net Profit of the Group for quarter ended June 2012 and year ended March 2012 would have been lower by Rs 14.60 crores and Rs 70.72 crores respectively. The net profit for the quarters as well as the year reported is comparable and excludes the impact of actuarial gain/ losses.

The Statutory Auditors have invited attention to this Note in their review report

6. During the quarter the holding company has increased its holding in Mount Everest Mineral Water Ltd. to 50.07% post acquisition of equity shares and it continues to be accounted as subsidiary. Also in the current quarter, an overseas subsidiary's shareholding in The Rising Beverage Company LLC. increased to more than 50% after conversion of loan notes, however it continues to be accounted as an associate as the increase in stake is intended to be temporary.

7. The major part 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 standalone results shall be available on the Company's website as well as on the website of the stock exchanges where the Company's shares are listed. The Total Income from Operations, Net Profit for the period and Earnings per share of the Holding Company's standalone financial results are given below :

* not annualised for the quarter end

8. Previous year/quarter figures have been regrouped / rearranged, to the extent necessary, to conform to current year/quarter classifications.

9. The aforementioned results were reviewed by the Audit Committee of the Board on July 20, 2012 and subsequently taken on record by the Board of Directors at its Meeting held on July 23, 2012. The statutory auditors of the company have conducted a limited review of these results.

Ratan Tata

Mumbai, July 23, 2012 (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Unaudited Consolidated Segment wise Revenue, Results and Capital Employed, under Clause 41, of the Listing Agreement for the three months ended June 30, 2012

Rs in Lakhs

Notes:

a. Business Segments: The internal business segmentation and the activities encompassed therein are as follows:

Tea : Cultivation & manufacture of black tea and instant tea, tea buying/ blending and sale of tea in bulk or value added form. Coffee and Other Produce : Growing of coffee, pepper and other plantation crops and conversion of coffee into value added products such as roast and ground coffee & instant coffee.

Others : Sale of Natural Mineral Water , other minor crops and curing operations of coffee and trading of items required for coffee plantations.

b. The segment wise revenue, results, capital employed figures relate to the respective amounts directly identifiable to each of the segments. Unallocable expenditure include expenses incurred on common services at corporate level, interest

and exceptional items. Unallocable income includes income from investments & exceptional items.

c. Previous year/quarter figures have been regrouped/rearranged to the extent necessary, to conform to current year/quarter classifications.

Ratan Tata

Mumbai, July 23, 2012 (Chairman)

* Not annualised for the quarter