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Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Audited Financial Results

for three months ended December 31, 2013

 Rs. In Lakhs

Notes:

1. Total Operating Income for the quarter at Rs 719 crores grew by 15% over the corresponding quarter of the previous year driven mainly by improvement in branded operations. Profit from Operations at Rs. 85 crores is higher by 34% from the corresponding quarter of the previous year driven by improved operating performance. Profit after tax for the Quarter at Rs. 88 crores improved by 24% over the corresponding quarter of previous year.

2. Exceptional items during the quarter represent expenditure on new product development Rs 4 crores and expenditure on New Initiatives and Restructuring activities Rs. 3 cores. Exceptional items for corresponding quarter of the previous year represents expenditure on new product development Rs. 6 crores and one time ex gratia payment to pensioners Rs. 5 crores.

3. Earnings per share (EPS) (basic and diluted) for the quarter of Rs. 1.42 is higher than Rs 1.15 reported for the corresponding quarter of the previous year mainly due to improved operational performance. Net of the impact of exceptional items, EPS (basic and diluted) for the current quarter is higher at Rs. 1.50 as compared to Rs. 1.28 for the corresponding quarter of the previous year.

4. The Board of Directors of the Company in its meeting held on 12th November 2013 had approved the scheme of merger of its subsidiary Mount Everest Mineral Water Ltd with the Company in terms of a scheme of amalgamation under Section 391-394 and other applicable provisions of the Companies Act, 1956. The appointed date of the scheme is 1st April 2013. The Scheme would become effective after receipt of all requisite statutory and court approvals including shareholders approval.

5. 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.

6. Investor complaints :

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

8. The aforementioned results were reviewed by the Audit Committee of the Board on January 29, 2014 and subsequently taken on record by the Board of Directors at its Meeting held on January 29, 2014. The Statutory Auditors of the company have audited these results.

Cyrus P Mistry

Mumbai, January 29, 2014 (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Unaudited Consolidated Financial Results

for the three months ended December 31, 2013

Rs. In Lakhs

Notes:

1. For the quarter, Income from operations at Rs 2081 crores increased by 9% year on year reflecting good performance in some key markets coupled with favourable foreign exchange translation impact. Profit from operations at Rs 164 crores is lower due to higher investment behind brands and impact of ongoing new initiatives during the quarter. Group Consolidated Net Profit is 49% higher than the same period in the previous year mainly reflecting impact of tax credit (refer note 3) and improved performance of Associates.

2. Exceptional items for the quarter represents cost relating to business transformation and restructuring of Rs 4 crores, long term initiatives and product development costs of Rs 7 crores and other costs of Rs 7 crores partly offset by reversal of provision on discontinuation of investments consequent to its sale of Rs 5 crores. In the corresponding period of the previous year exceptional items consisted of cost relating to business restructuring of Rs 3 crores, expenditure on one time ex-gratia payment to pensioners of Rs 5 crores, expenditure on long term initiatives and new projects of Rs 4 crores.

3. During the quarter the Holding Company's overseas subsidiaries sold their stake in a US based functional beverage Company which had been fully impaired in the previous quarter. The consideration for the sale is contingent on future performance and restructuring of the business. Provision for tax, for the quarter, includes a credit of Rs 45.72 crores arising on sale of stake.

4. Earnings per share (EPS) (basic and diluted) for the quarter at Rs 1.93 is higher than the corresponding period of prior year by 49% mainly due to favourable tax credit and improved performance of Associates. Net of impact of exceptional items, EPS (basic and diluted) for the current quarter at Rs 1.44 is higher by 1% as compared to the corresponding period of the previous year.

5. Actuarial gains relating to defined benefit pension scheme of overseas subsidiaries of Rs 2.79 crores (net of tax and minority interest) for the quarter 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. 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 for the quarter and nine months ended December 2013 would have been higher by Rs 2.79 crores and Rs 24.02 crores respectively.

The Statutory Auditors have invited attention to this in their Limited Review report.

6. The Board of Directors of the Holding Company in its meeting held on 12th November 2013 approved the scheme of merger of its subsidiary Mount Everest Mineral Water Ltd with the Holding Company in terms of a scheme of amalgamation under Section 391-394 and other applicable provisions of the Companies Act, 1956. The appointed date of the scheme is 1st April 2013. The Scheme would become effective after receipt of all requisite statutory and court approvals, including shareholders approval.

7. 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 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 January 29, 2014 and subsequently taken on record by the Board of Directors at its Meeting held on January 29, 2014. The Statutory Auditors of the company have conducted a limited review of these results.

Cyrus P Mistry

Mumbai, January 29, 2014 (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 December 31, 2013

 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 : Cultivation of coffee and related plantation crops and sale of coffee in various value added form.

Others : Sale of Water products, curing operations of coffee and other business.

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 the corporate level, finance costs and exceptional items. Unallocable income includes income from investments and exceptional items.

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

Cyrus P Mistry

Mumbai, January 29, 2014 (Chairman)

Rs. In Crores

* Not annualised for the quarter