TGBL.L Regulatory News (TGBL)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425, Email : investor.relations@tataglobalbeverages.com, Website : www.tataglobalbeverages.com

Audited Financial Results for the three months ended December 31, 2014

Rs. In Lakhs

Notes:

1. For the quarter, Income from operations at Rs 782 crores increased by 9% over corresponding quarter of previous year driven by higher volume and value realisations in the branded tea operations. Profit from Operations at Rs 81 crores is marginally lower than corresponding quarter of the previous year due to higher spends behind brands in the current quarter. Profit after tax at Rs 56 crores is lower as compared to the corresponding quarter of previous year due to lower dividends, as bulk of the dividends were received in the previous quarter.

2. Earnings Per Share (EPS) (basic and diluted) and EPS, net of exceptional items (basic and diluted) for the three months and the year to date ended are given below:

*Not annualized for three months ended and year to date ended.

EPS for the current quarter is lower compared to the corresponding quarter of previous year due to higher dividend income in previous year.

3. During the year, the Company has with effect from 1st April 2014, adopted estimated useful life of fixed assets as stipulated by Schedule II to the Companies Act 2013 or re-assessed useful life based on technical evaluation. The consequential impact (after considering the transition provision specified in Part C of Schedule II of Companies Act, 2013) on the depreciation charged and on the results for the quarter and year to date is not material.

4. The Board of Directors of the Company in its meeting held on November 12, 2013 had approved the scheme of merger of its subsidiary, Mount Everest Mineral Water Limited (MEMWL), with the Company in terms of a scheme of amalgamation under Section 391-394 and other applicable provisions of the Companies Act, 1956. The necessary approvals from the Stock exchanges and SEBI have been obtained. Further, the scheme was approved by the shareholders at the court convened meeting held on June 4, 2014 and also by non-promoter shareholders through postal ballot. The appointed date of the scheme is April 1, 2013. The scheme would be effective on the receipt of necessary approvals and completion of formalities as laid down there under. Accordingly, the operating results of MEMWL would be reflected by the Company from the appointed date of April 1, 2013 after the scheme becomes effective post obtaining all the requisite approvals. In terms of the scheme, till such date the scheme becomes effective, the merging entity's business operations are being carried out in trust on behalf of the Company.

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 regrouped / rearranged, to the extent necessary, to conform to the current period's classification.

8. The aforementioned results were reviewed by the Audit Committee of the Board on January 29, 2015 and subsequently taken on record by the Board of Directors at its Meeting held on January 30, 2015. The Statutory Auditors of the company have audited these results.

Cyrus P Mistry

Mumbai, January 30, 2015 (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Unaudited Consolidated Financial Results

for the three months ended December 31, 2014

Rs. In Lakhs

Notes:

1. For the quarter, Income from operations at Rs 2144 crores increased by 3% as compared to the corresponding quarter of the previous year. Profit from operations at Rs 161 crores is 2% lower than the corresponding quarter of the previous year. The decrease in Profit from Operations is mainly attributable to lower profits in the plantation business due to lower crop available for sale. Group Consolidated Net Profit at Rs 84 crores is lower than corresponding quarter of the previous year mainly on account of tax credit of Rs 46 cores accounted in the corresponding quarter of the previous year.

2. Earnings per Share (EPS) (basic and diluted) and EPS, net of impact of exceptional items (basic and diluted) for the three months and the year to date ended are given below:

*not annualized for the three months ended and year to date ended

3. During the year, the group has, with effect from April 1, 2014, reassessed the estimated useful life of fixed assets as stipulated by Schedule II of Companies Act 2013 or as appropriate based on technical evaluation. The consequential impact (after considering the transition provision specified in Part C of Schedule II to Companies Act 2013) on the depreciation charged and on the results for the quarter and year to date is not material.

4. Actuarial loss (net of tax and minority interest) of Rs 24.54 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. 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 lower by Rs 24.54 crores and Rs 61.79 crores for the quarter and year to date respectively.

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

5. The Board of Directors of the Holding Company in its meeting held on November 12, 2013 had approved the scheme of merger of its subsidiary, Mount Everest Mineral Water Limited (MEMW), 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 necessary approvals from the Stock exchanges and SEBI have been obtained. Further, the scheme was approved by the shareholders at the court convened meeting held on June 4, 2014 and also by non-promoter shareholders through postal ballot. The appointed date of the scheme is April 1, 2013. The scheme would be effective on the receipt of necessary approvals and completion of formalities as laid down there under. Accordingly, the operating results of MEMW would be reflected by the Holding Company from the appointed date of April 1, 2013 after the scheme becomes effective post obtaining all the requisite approvals. In terms of the scheme, till such date the scheme becomes effective, the merging entity's business operations are being carried out in trust on behalf of the Holding Company.

6. During the quarter, Tata Coffee Limited (TCL), Indian subsidiary of the Holding Company, has merged Alliance Coffee Limited (ACL), wholly owned subsidiary of TCL vide the order dated November 20, 2014 of The High Court of Karnataka approving the scheme of merger.

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

Profit for the quarter ended December 31, 2014 is lower compared with the same period in the previous year due to higher spends behind brands and lower dividends, as bulk of the dividends were received in the previous quarter.

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, 2015 and subsequently taken on record by the Board of Directors at its Meeting held on January 30, 2015. The Statutory Auditors of the company have conducted limited review of these results.

Cyrus P Mistry

Mumbai, January 30, 2015 (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, 2014

 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 periods figures have been regrouped/rearranged to the extent necessary, to conform to current period classifications.

Cyrus P Mistry

Mumbai, January 30, 2015 (Chairman)

Rs. In Crores

* Not annualised for the three months ended and year to date ended