6 Aug 2015 13:43
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
Audited Financial Results
for three months ended June 30, 2015
Rs. In Lakhs
Particulars | Three Months Ended | Year Ended | ||
June 30 2015 | March 31 2015 | June 30 2014 | March 31 2015 | |
Net Sales / Income from Operations (Net of excise duty) | 80465 | 64914 | 70753 | 279771 |
Other Operating Income | 1850 | 2235 | 1852 | 8681 |
Total Income from Operations (Net) | 82315 | 67149 | 72605 | 288452 |
a) Cost of materials consumed | 47771 | 46008 | 42251 | 187287 |
b) Purchase of stock-in-trade | 113 | 68 | 30 | 153 |
c) Charges in inventories of finished goods and stock-in-trade | 4215 | (6256) | 5216 | (2799) |
d) Employee benefits expense | 4509 | 4810 | 3600 | 16192 |
e) Depreciation & Amortization expense | 541 | 554 | 451 | 1994 |
f) Other Expenses | 14626 | 13861 | 12989 | 55925 |
Total Expenses | 71685 | 59045 | 64537 | 258752 |
Profit from Operations before Other Income, Finance Cost & Exceptional Items | 10630 | 8104 | 8068 | 29700 |
Other Income | 234 | 1339 | 755 | 15516 |
Profit from ordinary activities before Finance cost & Exceptional Items | 10864 | 9443 | 8823 | 45216 |
Finance Cost | (408) | (1015) | (427) | (3419) |
Profit from ordinary activities after Finance cost but before Exceptional Items | 10456 | 8428 | 8396 | 41797 |
Exceptional items (Net) | - | (6762) | (95) | (6892) |
Profit from ordinary activities before Tax | 10456 | 1666 | 8301 | 34905 |
Tax Expense | (3672) | 2625 | (2375) | (6005) |
Net Profit for the period | 6784 | 4291 | 5926 | 28900 |
Paid up Equity Share Capital (face value of Rs. 1 each) (*) | 6311 | 6311 | 6184 | 6311 |
Reserves excluding Revaluation Reserve | 241667 | |||
Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs | 1.07 | 0.68 | 0.96 | 4.58 |
PARTICULARS OF SHAREHOLDING | ||||
Public Shareholding | ||||
- Number of Shares | 401315380 | 401315380 | 400715380 | 401315380 |
- Percentage of Shareholding | 64.90% | 64.90% | 64.80% | 64.90% |
Promoters and Promoters Group Shareholding | ||||
(a) Pledged / Encumbered | ||||
- Number of Shares | 11500000 | 11500000 | 40800000 | 11500000 |
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) | 5.30% | 5.30% | 5.30% | 5.30% |
- Percentage of shares ( as a percentage of the total share capital of the company) | 1.86% | 1.86% | 6.60% | 1.86% |
(b) Non Encumbered | ||||
- Number of Shares | 205583190 | 205583190 | 205583190 | 205583190 |
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) | 94.70% | 94.70% | 94.70% | 94.70% |
- Percentage of shares ( as a percentage of the total share capital of the company) | 33.24% | 33.24% | 33.24% | 33.24% |
(*) Includes 127.31 lakhs shares to be issued consequent to the amalgamation between Mount Everest Mineral Water Ltd and the Company, out of which 122.24 lakhs shares have been allotted on 2nd July 2015.
Notes:
1. For the quarter, Income from operations at Rs 823 crores increased by 13% over corresponding quarter of previous year reflecting improved performance in the branded tea operations. Profit from operations and Profit after tax is higher than corresponding quarter of previous year reflecting improved operating performance.
2. Earnings Per Share (EPS) (basic and diluted) and EPS, net of exceptional items (basic and diluted) for the quarter and the year are given below:
In Rs | Three months ended | Year Ended | ||
June 30 2015 | March 31 2015 | June 30 2014 | March 31 2015 | |
Earnings Per Share - Rs * | 1.07 | 0.68 | 0.96 | 4.58 |
Earnings Per Share - Rs* (excluding impact of exceptional items) | 1.07 | 1.72 | 0.97 | 5.63 |
*Not annualized for the quarter end.
3. As per the threshold limits prescribed under Accounting Standard (AS-17) on "Segment Reporting" specified under section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014, the Company's reportable activity falls within a single business segment, viz "Buying /Blending and Sale of tea in bulk and value added form", hence the disclosure requirements are not applicable.
4. Investor complaints :
Pending at the beginning of the Quarter | Received during the Quarter | Disposed of during the Quarter | Remaining unresolved at the end of the Quarter* |
- | 4 | 1 | 3 |
5. Previous period's figures have been rearranged/ regrouped to the extent necessary, to conform to the current period's figures. Consequent to a scheme of amalgamation, figures for current quarter include the results of erstwhile Mount Everest Mineral Water Limited and hence not strictly comparable with the previous periods.
6. The aforementioned results were reviewed by the Audit Committee of the Board on August 5, 2015 and subsequently taken on record by the Board of Directors at its Meeting held on August 6, 2015. The statutory auditors of the company have audited these results.
Mumbai, August 6, 2015 Cyrus P Mistry
(Chairman)
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
Unaudited Consolidated Financial Results
for the three months ended June 30, 2015
Rs. In Lakhs
Particulars | Three Months Ended | Audited Year Ended | ||
June 30 2015 | March 31 2015 | June 30 2014 | March 31 2015 | |
Net Sales / Income from Operations (Net of excise duty) | 200399 | 187458 | 188395 | 783267 |
Other Operating Income | 2500 | 4807 | 2671 | 16072 |
Total Income from Operations (Net) | 202899 | 192265 | 191066 | 799339 |
a) Cost of materials consumed | 90492 | 91921 | 82087 | 362512 |
b) Purchase of stock-in-trade | 7133 | 6661 | 7350 | 26347 |
c) Changes in inventories of finished goods, work in progress and stock-in-trade | 3651 | (9779) | 4044 | (5125) |
d) Employee benefits expense | 21227 | 22127 | 20902 | 85767 |
e) Depreciation & Amortization (Net of amount drawn from Revaluation Reserve) | 3513 | 2566 | 3500 | 13311 |
f) Advertisement and Sales Charges | 32609 | 30791 | 28580 | 132557 |
g) Other Expenses | 28953 | 31708 | 27973 | 119795 |
Total Expenses | 187578 | 175995 | 174436 | 735164 |
Profit from Operations before Other Income, Finance Cost & Exceptional Items | 15321 | 16270 | 16630 | 64175 |
Other Income | 1164 | 847 | 1799 | 6998 |
Profit from ordinary activities before Finance cost & Exceptional Items | 16485 | 17117 | 18429 | 71173 |
Finance Cost | (1419) | (1837) | (1511) | (8186) |
Profit from ordinary activities after Finance cost but before Exceptional Items | 15066 | 15280 | 16918 | 62987 |
Exceptional items (Net) | (278) | (10252) | (269) | (12999) |
Profit from ordinary activities before Tax | 14788 | 5028 | 16649 | 49988 |
Tax Expense | (5992) | (3558) | (5406) | (21552) |
Profit after Tax | 8796 | 1470 | 11243 | 28436 |
Share of Profit/(Loss) from Associates | 310 | (2402) | 2 | (1088) |
Minority Interest in Consolidated Profit | (875) | 1322 | (1522) | (2566) |
Group Consolidated Net Profit | 8231 | 390 | 9723 | 24782 |
Paid-up equity share capital (Face value of Re 1 each) | 6311 | 6311 | 6184 | 6311 |
Reserve excluding Revaluation Reserves | 538845 | |||
Earnings per share (Basic & Diluted) (not annulised) - Rs | 1.30 | 0.06 | 1.57 | 3.93 |
PARTICULARS OF SHAREHOLDING | ||||
Public Shareholding | ||||
- Number of Shares | 401315380 | 401315380 | 401315380 | 401315380 |
- Percentage of Shareholding | 64.90% | 64.90% | 64.90% | 64.90% |
Promoters and Promoters Group Shareholding | ||||
(a) Pledged / Encumbered | ||||
- Number of Shares | 11500000 | 11500000 | 11500000 | 11500000 |
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) | 5.30% | 5.30% | 5.30% | 5.30% |
- Percentage of shares ( as a percentage of the total share capital of the company) | 1.86% | 1.86% | 1.86% | 1.86% |
(b) Non Encumbered | ||||
- Number of Shares | 205583190 | 205583190 | 205583190 | 205583190 |
- Percentage of shares ( as a percentage of the total shareholding of the promoter and promoter group ) | 94.70% | 94.70% | 94.70% | 94.70% |
- Percentage of shares ( as a percentage of the total share capital of the company) | 33.24% | 33.24% | 33.24% | 33.24% |
(*) includes 127.31 Lakh shares to be issued consequent to the amalgamation between Mount Everest Mineral Water Ltd and the Holding Company, out of which, 122.24 Lakh shares have been allotted on 2nd July 2015.
Notes:
1. For the quarter, Income from operations at Rs 2029 crores increased by 6% as compared to corresponding quarter of the previous year. At previous year exchange rate the increase is 9%. Profit from operations Rs 153 crores is lower than the comparative quarter of the previous year due to higher expenditure on brands and new initiatives. Post the adverse impact of exceptional items, the Group Consolidated Net Profit is Rs 82 crores.
2. Exceptional items for the current and corresponding quarter of the previous year represents cost relating to business restructuring.
3. Earnings per Share (EPS) (basic and diluted) and EPS, net of impact of exceptional items (basic and diluted) for the quarter and the year are given below:
In Rs | Three months ended | Year Ended | ||
June 30 2015 | March 31 2015 | June 30 2014 | March 31 2015 | |
Earnings Per Share - Rs * | 1.30 | 0.06 | 1.57 | 3.93 |
Earnings Per Share - Rs* (excluding impact of exceptional items) | 1.34 | 1.22 | 1.60 | 5.52 |
**not annualised for the quarter end
4. Actuarial gain (net of tax and minority interest) of Rs 3.45 crores for the quarter, relating to defined benefit pension scheme of overseas subsidiaries have been accounted in Reserves in the Consolidated Financial Statement applying the principles of Accounting Standard 21 and in line with the policy followed by the overseas subsidiaries and other companies in compliance with the relevant overseas accounting framework. Further, the current policy is consistent with IND-AS 19 - Employee Benefits (mandatorily applicable from April 1, 2016) wherein, the actuarial gains and losses on defined benefit plans are not required to be recognised in the Statement of Profit and Loss. 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 for the Group would have been higher by Rs 3.45 crores for the quarter.
The Statutory Auditors have invited attention to this in their Limited Review Report.
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 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:
In Rs | Three months ended | Year Ended | ||
June 30 2015 | March 31 2015 | June 30 2014 | March 31 2015 | |
Total Income from Operations (Net) | 823 | 671 | 726 | 2885 |
Net Profit for the period | 68 | 43 | 59 | 289 |
Earnings per share - Rs* | 1.07 | 0.68 | 0.96 | 4.58 |
Earnings per share - Rs* (excluding impact of exceptional items) | 1.07 | 1.72 | 0.97 | 5.63 |
*not annualised for the quarter end
# reported numbers include impact of amalgamation of Mount Everest Mineral Water Ltd with the Holding Company which is not material.
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 5, 2015 and subsequently taken on record by the Board of Directors at its Meeting held on August 6, 2015. The Statutory Auditors of the company have conducted limited review of these results.
Mumbai, August 6, 2015 Cyrus P Mistry
(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, 2015
Rs. In Lakhs
Particulars | Three Months Ended | Audited Year ended | ||
June 30 2015 | March 31 2015 | June 30 2014 | March 31 2015 | |
1. Segment Revenue | ||||
(a) Tea | 152487 | 137602 | 145110 | 588024 |
(b) Coffee & Other Produce | 46876 | 52004 | 42779 | 201033 |
(c) Others | 3536 | 2659 | 3177 | 10282 |
Total Income from Operations (Net) | 202899 | 192265 | 191066 | 799339 |
2. Segment Results | ||||
(a) Tea | 16982 | 15285 | 16858 | 61497 |
(b) Coffee & Other Produce | 4350 | 8326 | 5655 | 26438 |
(c) Others | (966) | (1375) | (548) | (4426) |
Total | 20366 | 22236 | 21965 | 83509 |
Add/(Less) | ||||
i) Finance Cost | (1419) | (1837) | (1511) | (8186) |
ii) Other Un-allocable items, Other Income and Exceptional Items | (4159) | (15371) | (3805) | (25335) |
Profit from ordinary activities before Tax | 14788 | 5028 | 16649 | 49988 |
3. Capital Employed | ||||
(a) Tea | 394307 | 396443 | 397621 | 396443 |
(b) Coffee & Other Produce | 241279 | 236868 | 249429 | 236868 |
(c) Others | 5748 | 5465 | 25351 | 5465 |
(d) Unallocated including Investments | 35539 | (1876) | 30856 | (1876) |
Total | 676873 | 636900 | 703257 | 636900 |
Notes:
a. Business Segments: The internal business segmentation and the activities encompassed therein are as follows:
Tea : Cultivation, manufacture, blending and sale of tea in packet, bulk or value added forms.
Coffee and Other Produce : Cultivation of coffee and related plantation crops and sale of coffee in various value added forms
Others : Sale of water products and other businesses
b. The segment wise revenue, results, capital employed figures relate to the respective amounts directly identifiable to each of the segments.
Unallocable income and expenditure includes income from investments, expenses incurred on common services at the corporate leveland exceptional items
c. Previous periods figures have been regrouped/rearranged to the extent necessary, to conform to current period classifications.
Mumbai,August 6, 2015 Cyrus P Mistry
(Chairman)
Rs. In Crores
Particulars | Three Months Ended | Year ended | ||
June 30 2015 | March 31 2015 | June 30 2014 | March 31 2015 | |
Total Income from Operations (Net) | 2028.99 | 1922.65 | 1910.66 | 7993.39 |
Profit before Exceptionals | 150.66 | 152.80 | 169.18 | 629.87 |
Exceptionals Items (Net) | (2.78) | (102.52) | (2.69) | 129.99 |
Net Profit before Tax | 147.88 | 50.28 | 166.49 | 499.88 |
Net Profit after Tax | 87.96 | 14.70 | 112.43 | 284.36 |
Earnings per Share - Rs* | 1.30 | 0.06 | 1.57 | 3.93 |
Earnings per Share (Before Exceptionals)- on Core Operations - Rs * | 1.34 | 1.22 | 1.60 | 5.52 |
Dividend - Rs per share (Face Value Re 1 per Share) | Rs. 2.25 | |||
* Not annualised for the quarter end.