1 Jun 2017 14:07
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,
Website : www.tataglobalbeverages.com
Standalone Financial Results for the quarter and year ended March 31, 2017
Rs. in Crores
Particulars | Unaudited Three months ended | Audited Year ended | |||
March31, 2017 | December 31, 2016 | March31, 2016 | March31, 2017 | March 31, 2016 | |
Revenue from Operations | 696.57 | 786.43 | 676.75 | 3063.89 | 2986.79 |
Other Income | 14.37 | 18.24 | 26.33 | 96.34 | 111.48 |
Total Income | 710.94 | 804.67 | 703.08 | 3160.23 | 3098.27 |
Cost of materials consumed | 464.52 | 479.96 | 444.51 | 1867.72 | 1888.58 |
Purchase of stock-in-trade | 8.41 | 8.06 | 4.09 | 23.03 | 11.93 |
Changes in inventories of finished goods, work-in-progress & stock-in-trade | (60.98) | (10.48) | (32.32) | (1.79) | (3.92) |
Employees benefits expense | 45.41 | 48.83 | 39.69 | 187.82 | 168.62 |
Finance costs | 9.70 | 12.43 | 23.48 | 49.10 | 67.71 |
Depreciation and amortisation expense | 6.32 | 5.99 | 6.00 | 23.70 | 22.79 |
Advertisement and sales charges | 66.43 | 62.30 | 34.95 | 221.37 | 195.58 |
Other expenses | 107.98 | 100.82 | 108.70 | 403.09 | 366.88 |
Total Expenses | 647.79 | 707.91 | 629.10 | 2774.04 | 2718.17 |
Profit before Exceptional Items and Tax | 63.15 | 96.76 | 73.98 | 386.19 | 380.10 |
Exceptional Items (Net) | - | - | (59.25) | - | (63.22) |
Profit before Tax | 63.15 | 96.76 | 14.73 | 386.19 | 316.88 |
Tax Expense | (19.19) | (24.30) | (8.69) | (110.19) | (90.39) |
Net Profit after Tax (A) | 43.96 | 72.46 | 6.04 | 276.00 | 226.49 |
Other Comprehensive Income | |||||
i) Items that will not be reclassified to profit or loss | |||||
Remeasurement of defined benefit plans | (3.39) | (4.29) | (3.02) | (17.58) | (7.41) |
Changes in fair valuation of equity instruments | 110.57 | (26.14) | (46.13) | 255.55 | (135.96) |
107.18 | (30.43) | (49.15) | 237.97 | (143.37) | |
ii) Items that will be reclassified to profit or loss | |||||
Gains/(loss) on effective portion of cash flow hedges | 0.81 | 2.86 | 0.96 | 2.21 | (3.30) |
Other Comprehensive Income (Net of tax) (B) | 107.99 | (27.57) | (48.19) | 240.18 | (146.67) |
Total Comprehensive Income (A+B) | 151.95 | 44.89 | (42.15) | 516.18 | 79.82 |
Paid-up equity share capital (Face value of Re. 1 each) | 63.11 | 63.11 | 63.11 | 63.11 | 63.11 |
Reserves excluding Revaluation Reserves | 3699.58 | 3351.71 | |||
Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs. | 0.70 | 1.15 | 0.10 | 4.37 | 3.59 |
Notes:
1. The Company has adopted, Indian Accounting Standards (Ind AS) from 1st April 2016. Financial results of all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS.
2. (a) For the quarter as well as for the year, Revenue from operations increased over corresponding figures of the previous year reflecting improved performance in the branded tea operations. For the quarter, the benefit of lower commodity costs and sales improvements have been offset by higher expenditure on advertisement and sales charges , resulting in a decrease in profit from operations.
Reconciliation of Profit before tax and exceptional items to Profit from operations is given below:
In Rs. Crores | Three months ended | Year ended | |||
March 31, 2017 | December 31, 2016 | March 31, 2016 | March 31, 2017 | March 31, 2016 | |
Profit before Exceptional Items and Tax | 63.15 | 96.76 | 73.98 | 386.19 | 380.10 |
Less : Other income | (14.37) | (18.24) | (26.33) | (96.34) | (111.48) |
Add : Finance cost | 9.70 | 12.43 | 23.48 | 49.10 | 67.71 |
Profit from Operations | 58.48 | 90.95 | 71.13 | 338.95 | 336.33 |
Profit after tax, for the quarter as well as for the year, records an improvement over the previous year's levels mainly due to lower exceptional expenditure and finance costs.
(b) Profit after tax of the previous year as well as of the corresponding quarter of the previous year as reported under previous GAAP had profit from sale of equity investments of Rs. 327.79 crores, which under Ind AS has been accounted under retained earnings.
3. Exceptional item for the previous year represents provision for impairment/obligations relating to a subsidiary company of Rs 52 crores, provision for impairment of intangible of Rs. 7 crores , levy relating to past demerged business of Rs 3 crores and provision for retrospective amendment of legislation relating to employee benefit of Rs 1 crore.
4. (a) Reconciliation between standalone financial results, as previously reported referred to as previous GAAP and Ind AS are as under:
Adjustments under Ind AS |
| |||||
For the Quarter In Rs. Crores | Previous GAAP | Revenue (Note i) | Effective interest method for debenture redemption premium
| Profit on sale of equity investments (Note ii) |
Others (Note iii) | Ind AS |
March 31, 2016 | March 31, 2016 | |||||
Revenue from Operations | 700.18 | (23.43) | - | - | - | 676.75 |
Profit from Operations | 65.01 | - | - | - | 6.12 | 71.13 |
Net Profit after Tax | 336.50 | - | (4.32) | (327.79) | 1.65 | 6.04 |
Adjustments under Ind AS |
| |||||
For the Year In Rs. Crores | Previous GAAP | Revenue (Note i) | Effective interest method for debenture redemption premium
| Profit on sale of equity investments (Note ii) |
Others (Note iii) | Ind AS |
March 31, 2016 | March 31, 2016 | |||||
Revenue from Operations | 3083.92 | (97.13) | - | - | - | 2986.79 |
Profit from Operations | 319.44 | - | - | - | 16.89 | 336.33 |
Net Profit after Tax | 563.67 | - | (12.16) | (327.79) | 2.77 | 226.49 |
Note i - Expenditure required to be offset from sales on account of measurement criteria for Revenue.
Note ii - Profit on sale of equity investments is derecognized, as these instruments are fair valued at period ends under Ind AS.
Note iii - Others mainly include agricultural produce required to be fair valued, impact of actuarial gain/ losses and impact of fair value measurement of financial instruments.
(b) Equity reconciliation as at March 31, 2016 and March 31, 2015:
In Rs. Crores | Notes | Year Ended | |
March 31, 2016 | March 31, 2015 | ||
Equity as per previous GAAP | 2895.90 | 2500.38 | |
Fair value of equity instrument | (a) | 359.53 | 822.88 |
Reversal of proposed dividend including tax | (b) | 171.72 | 171.72 |
Effective interest method for debenture redemption premium | 10.78 | 27.26 | |
Others | (1.25) | (2.28) | |
Total Transition Adjustments | 540.78 | 1019.58 | |
Equity as per Ind AS | 3436.68 | 3519.96 |
Note (a): Under Ind AS, equity instruments are measured at fair values.
Note (b): Under Ind AS, proposed dividends are only recognized when approved by the shareholders in the general meeting
5. With effect from 1st April 2016, the Company has organized its business into Branded Segment and Non Branded Segment. Branded Segment is further categorized as Branded Tea, Branded Coffee and the residual as Branded Others. As per the threshold limits prescribed under Indian Accounting Standard (Ind AS-108) on "Segment Reporting", the Company's reportable activity falls within a single business segment and hence, the segment disclosure requirements are not applicable.
6. Figures of the quarter ended March 31, 2017 and March 31, 2016 are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year.
7. Statement of Assets and Liabilities as at March 31, 2017 along with comparatives is annexed.
8. The Board of Director has recommended a dividend payment of Rs. 2.35 per share (Face Value Re 1 each) for the year ended March 31, 2017.
9. The aforementioned results were reviewed by the Audit Committee of the Board on May 29, 2017 and subsequently taken on record by the Board of Directors at its meeting held on May 30, 2017. The Statutory Auditors of the Company have audited these results.
Harish Bhat | |
Mumbai, May 30, 2017 | (Chairman) |
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,
Website : www.tataglobalbeverages.com
Audited Statement of Assets and Liabilities as at March 31, 2017
Rs. in Crores
2017 | 2016 | As at 1st April 2015 | |
ASSETS | |||
Non-Current Assets | |||
Property, Plant and Equipment | 197.76 | 182.50 | 168.17 |
Investment Property | 0.69 | 0.71 | 0.73 |
Capital work-in-progress | 11.50 | 10.10 | 11.28 |
Intangible Assets | 16.03 | 16.05 | 24.43 |
Financial Assets | |||
Investments | 2903.97 | 2624.49 | 3055.36 |
Loans | 24.73 | 24.75 | 30.68 |
Other Financial Assets | 21.07 | 20.47 | 21.64 |
Deferred Tax Assets (Net) | 38.86 | 73.61 | 28.30 |
Non-Current Tax Assets (Net) | 62.89 | 44.64 | 33.28 |
Other Non-Current Assets | 76.69 | 74.29 | 74.30 |
3354.19 | 3071.61 | 3448.17 | |
Current Assets | |||
Inventories | 764.19 | 890.00 | 819.59 |
Financial Assets | |||
Investments | 67.70 | 173.33 | 10.92 |
Trade Receivables | 99.62 | 109.70 | 83.11 |
Cash and Cash Equivalents | 13.76 | 59.57 | 4.13 |
Other Bank Balances | 7.02 | 6.30 | 6.05 |
Loans | 11.97 | 14.31 | 27.03 |
Other Financial Assets | 26.80 | 40.09 | 32.80 |
Other Current Assets | 53.23 | 54.48 | 39.22 |
1044.29 | 1347.78 | 1022.85 | |
TOTAL ASSETS
| 4398.48
| 4419.39
| 4471.02
|
EQUITY AND LIABILITIES | |||
Equity | |||
Equity share capital | 63.11 | 63.11 | 61.84 |
Other Equity | 3721.44 | 3373.57 | 3458.12 |
TOTAL EQUITY
| 3784.55
| 3436.68
| 3519.96
|
Share Suspense Account | - | - | 1.27 |
Non-Current Liabilities | |||
Financial Liabilities | |||
Borrowings | - | - | 357.48 |
Others Financial Liabilities | - | 1.25 | 4.64 |
Provisions | 130.87 | 177.87 | 114.02 |
130.87 | 179.12 | 476.14 | |
Current Liabilities | |||
Financial Liabilities | |||
Borrowings | 32.26 | 52.61 | 152.50 |
Trade Payables | 244.33 | 174.92 | 133.37 |
Other Financial Liabilities | 88.06 | 467.42 | 80.22 |
Other Current Liabilities | 72.32 | 71.73 | 73.25 |
Provisions | 46.09 | 36.91 | 34.31 |
483.06 | 803.59 | 473.65 | |
TOTAL EQUITY AND LIABILITIES | 4398.48 | 4419.39 | 4471.02 |
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,
Website : www.tataglobalbeverages.com
Consolidated Financial Results for the quarter and year ended March 31, 2017
Rs. in Crores
Particulars |
Unaudited Three months ended
| Audited Year ended | |||
| March 31, 2017 | December 31, 2016 | March 31, 2016 | March 31, 2017 | March 31, 2016 |
Revenue from Operations | 1674.26 | 1743.86 | 1598.35 | 6779.55 | 6636.54 |
Other Income | 16.82 | 14.30 | 26.34 | 83.10 | 82.00 |
Total Income | 1691.08 | 1758.16 | 1624.69 | 6862.65 | 6718.54 |
Cost of Materials Consumed | 791.52 | 848.47 | 789.19 | 3205.82 | 3312.52 |
Purchase of stock in trade | 117.18 | 114.26 | 74.70 | 356.44 | 288.97 |
Changes in inventories of finished goods, work in progress and stock in trade | (77.45) | (28.18) | (18.47) | (0.69) | 20.11 |
Employee Benefits Expense | 213.21 | 204.33 | 198.99 | 834.95 | 805.06 |
Finance Costs | 24.77 | 21.57 | 44.43 | 91.53 | 116.90 |
Depreciation and Amortisation Expenses | 31.20 | 31.08 | 24.61 | 126.04 | 116.79 |
Advertisement and Sales charges | 165.86 | 179.10 | 134.00 | 584.65 | 577.52 |
Other Expenses | 285.03 | 241.89 | 259.89 | 1007.25 | 978.03 |
Total Expenses | 1551.32 | 1612.52 | 1507.34 | 6205.99 | 6215.90 |
Profit before Exceptional Items and Tax | 139.76 | 145.64 | 117.35 | 656.66 | 502.64 |
Exceptional Items (Net) | (42.50) | 49.54 | (314.76) | 5.30 | (332.88) |
Profit before Tax | 97.26 | 195.18 | (197.41) | 661.96 | 169.76 |
Tax Expense | (12.90) | (50.32) | (52.22) | (198.31) | (200.01) |
Net Profit after Tax | 84.36 | 144.86 | (249.63) | 463.65 | (30.25) |
Share of net profit/(loss) in Associates and Joint Ventures using equity method | (33.24) | (0.32) | (19.27) | (8.85) | (6.84) |
GROUP CONSOLIDATED NET PROFIT (A) | 51.12 | 144.54 | (268.90) | 454.80 | (37.09) |
Attributable to : | |||||
Owners of the Parent | 31.41 | 127.63 | (216.07) | 389.44 | (5.52) |
Non Controlling Interest | 19.71 | 16.91 | (52.83) | 65.36 | (31.57) |
Other Comprehensive Income | |||||
i) Items that will not be reclassified to profit and loss | |||||
Remeasurement of the defined benefit plan | 30.96 | 15.52 | (28.23) | 10.24 | (51.49) |
Changes in fair valuation of equity instruments | 112.46 | (26.62) | (46.63) | 259.37 | (137.10) |
| 143.42 | (11.10) | (74.86) | 269.61 | (188.59) |
ii) Items that will be reclassified to profit and loss | |||||
Exchange differences on translation of foreign operations | (144.98) | 66.12 | (58.83) | (567.36) | 150.49 |
Gains/(loss) on Effective portion of cash flow hedges | 8.36 | (18.70) | (4.48) | 19.78 | (9.14) |
(136.62) | 47.42 | (63.31) | (547.58) | 141.35 | |
Total Other Comprehensive Income, net of tax (B)
| 6.80 | 36.32 | (138.17) | (277.97) | (47.24) |
Attributable to : | |||||
Owners of the Parent | 20.59 | 42.23 | (129.10) | (198.83) | (67.16) |
Non Controlling Interest | (13.79) | (5.91) | (9.07) | (79.14) | 19.92 |
Total Comprehensive Income (A+B) | 57.92 | 180.86 | (407.07) | 176.83 | (84.33) |
Attributable to : | |||||
Owners of the Parent | 52.00 | 169.86 | (345.17) | 190.61 | (72.68) |
Non Controlling Interest | 5.92 | 11.00 | (61.90) | (13.78) | (11.65) |
Paid-up equity share capital (Face value of Re 1 each) | 63.11 | 63.11 | 63.11 | 63.11 | 63.11 |
Reserves excluding Revaluation Reserve | 6180.53 | 6162.20 | |||
Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs | 0.50 | 2.02 | (3.42) | 6.17 | (0.09) |
Notes:
1. The Company has adopted, Indian Accounting Standards (Ind AS) from April 1, 2016. Financial results of all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS.
2. (a) For the quarter, Income from operations at Rs 1674 Crores increased by 5% as compared to corresponding quarter of the previous year. At previous year exchange rate the increase is 7%. For the year, income from operations at Rs 6780 Crores increased by 2% as compared to the corresponding year. At previous year exchange rate the increase is 3%.
For the quarter, Profit from operations at Rs 148 Crores is higher by 9% as compared to the corresponding quarter of the previous year despite higher advertising spends. For the year, profit from operations at Rs 665 Crores is higher by 24%. The improvements in operating profits reflect higher sales, good cost management and lower commodity costs.
Reconciliation of Profit before tax and exceptional items to Profit from operations is given below:
Rs in Crores | Three months ended | Year ended | |||
March 31, 2017 | December 31, 2016 | March 31, 2016 | March 31, 2017 | March 31, 2016 | |
Profit before Exceptional Items and Tax | 139.76 | 145.64 | 117.35 | 656.66 | 502.64 |
Less : Other income | (16.82) | (14.30) | (26.34) | (83.10) | (82.00) |
Add : Finance cost | 24.77 | 21.57 | 44.43 | 91.53 | 116.90 |
Profit from Operations | 147.71 | 152.91 | 135.44 | 665.09 | 537.54 |
Group Consolidated net profit for the quarter as well for the year record significant growth due to improved operating performance and lower level of exceptional expenditure.
(b) Profit after tax of the previous year as well as of the corresponding quarter of the previous year as reported under previous GAAP had profit from sale of equity investments of Rs 327.79 Crores, which under Ind AS have been accounted under retained earnings.
3. The financial results includes following under Exceptional items:
Rs in Crores
Particulars | Three months ended | Year ended | ||
March 31 2017 | March 31 2016 | March 31 2017 | March 31 2016 | |
Gain on conversion of a Joint Venture into a subsidiary* | - | - | 50 | - |
Impairment of intangible / other assets** | (27) | (288) | (27) | (288) |
Reorganisation and Restructuring cost | (9) | (9) | (11) | (19) |
Loss on assets held for sale *** | (7) | - | (7) | - |
Acquisition related expenditure | - | (13) | - | (13) |
Provision for retrospective amendment of legislation relating to employee benefits | - | - | - | (5) |
Levy relating to past demerged business | - | - | - | (3) |
Other exceptional items | - | (5) | - | (5) |
Income / (Expenditure)(net) | (43) | (315) | 5 | (333) |
* Represent a gain, based on fair valuation, determined as per Ind AS 103 - Business Combinations, arising out of the conversion of an overseas joint venture to a subsidiary pursuant to amendments in the operating agreement.
** Represents non-cash impairment loss mainly on goodwill relating to branded business in Australia. While the Group is actively pursuing various growth opportunities, the accounting impairment has been recognised due to factors like decline in category growth rate and higher competitive intensity.
*** Represent write down of net assets, relating to a business in East Europe, classified as held for sale.
4. (a) Reconciliation between consolidated financial results for the quarter and year ended March 31, 2016, as previously reported referred to as previous GAAP and Ind AS are as under:
Adjustments under Ind AS | ||||||||
For the Quarter Rs in Crores | Previous GAAP | Revenue
(Note i) | Equity Accounting of JV results | Fair valuation of Agricultural Produce
| Effective interest method for debenture redemption premium | Profit on sale of equity investments (Note ii) | Others
(Note iii) | Ind AS |
March 31, 2016 | March 31, 2016 | |||||||
Revenue from Operations | 1965.57 | (209.73) | (147.49) | - | - | (10.00) | 1598.35 | |
Profit from Operations | 132.15 | - | 1.41 | (5.88) | - | 7.76 | 135.44 | |
Group Consolidated Net Profit before Minority interest | 85.04 | - | (0.20) | (5.88) | (4.32) | (327.79) | (15.75) | (268.90) |
Adjustments under Ind AS | ||||||||
Year ended Rs in Crores | Previous GAAP | Revenue
(Note i) | Equity Accounting of JV results
| Fair Valuation of Agricultural Produce
| Effective interest method for debenture redemption premium | Profit on sale of equity investments (Note ii) | Others
(Note iii) | Ind AS |
March 31, 2016 | March 31, 2016 | |||||||
Revenue from Operations | 8110.51 | (843.48) | (620.49) | - | - | (10.00) | 6636.54 | |
Profit from Operations | 531.73 | - | 10.71 | (32.45) | - | - | 28.25 | 537.54 |
Group Consolidated Net Profit before Minority interest | 333.63 | - | (1.90) | (24.73) | (16.48) | (327.79) | 0.18 | (37.09) |
Note i - Expenditure required to be offset from sales on account of measurement criteria for Revenue.
Note ii - Profit on sale of equity investments is de-recognized, as these instruments are fair valued at period ends under Ind AS and profit or loss recognised under Other comprehensive income.
Note iii - Others mainly include expenditure capitalised, depreciation & amortisation adjustments and impact on the results of Associates mainly on account of fair valuation of agricultural produce.
(c) Equity reconciliation as at March 31, 2016 and March 31, 2015:
Rs in Crores | Note | Year Ended | |
March 31, 2016 | March 31, 2015 | ||
Equity as per previous GAAP | 6599.61 | 6367.73 | |
Fair value of equity instrument | (a) | 336.23 | 801.57 |
Reversal of proposed dividend including tax | (b) | 186.99 | 186.99 |
Others | (13.89) | 18.71 | |
Total Transition Adjustments | 509.33 | 1007.27 | |
Equity as per Ind AS | 7108.94 | 7375.00 |
Note (a): Under Ind AS, equity instruments are measured at fair values.
Note (b): Under Ind AS, proposed dividends are only recognised when approved by the shareholders in the general meeting.
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 Total Income, Profit before tax and Profit after tax of the Holding Company's standalone financial results are given below :
In Rs Crores | Three months ended | Year ended | |||
March 31, 2017 | December 31, 2016 | March 31, 2016 | March 31, 2017 | March 31, 2016 | |
Total Income | 710.94 | 804.67 | 703.08 | 3160.23 | 3098.27 |
Profit before Tax | 63.15 | 96.76 | 14.73 | 386.19 | 316.88 |
Profit after Tax [refer note 2 (b)] | 43.96 | 72.46 | 6.04 | 276.00 | 226.49 |
Total Comprehensive Income | 151.95 | 44.89 | (42.15) | 516.18 | 79.82 |
Earnings per share - Rs (not annualised for the quarter) | 0.70 | 1.15 | 0.10 | 4.37 | 3.59 |
6. Figures for the quarter ended March 31, 2017 and March 31, 2016 are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year.
7. Consolidated Statement of Asset and Liabilities as at March 31, 2017 along with comparatives is annexed.
8. The Board of Directors has recommended a dividend payment of Rs. 2.35 per share (Face value Re. 1 each) for the year ended March 31, 2017.
9. Previous period's figures have been regrouped / rearranged, to the extent necessary, to conform to current period's classifications.
10. The aforementioned results were reviewed by the Audit Committee of the Board on May 29, 2017 and subsequently taken on record by the Board of Directors at its Meeting held on May 30, 2017. The Statutory Auditors of the company have audited the annual results.
11. The Consolidated and Standalone result for the year ended March 31, 2017 are available on the Bombay Stock Exchange website (URL: www.bseindia.com ), the National Stock Exchange website (URL: www.nseindia.com) and on the Company's website (URL: www.tataglobalbeverages.com ).
Harish Bhat | |
Mumbai: May 30, 2017 | (Chairman) |
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,
Website : www.tataglobalbeverages.com
Consolidated Segment wise Revenue, Results, Assets and Liabilities for the quarter and year ended March 31, 2017
Rs. in Crores
Particulars | Unaudited Three months ended | Audited Year ended | |||
March 31, 2017 | December 31, 2016 | March 31, 2016 | March 31, 2017 | March 31, 2016 | |
Segment Revenue | |||||
Branded Business | |||||
(a) Tea | 1185.27 | 1238.73 | 1111.39 | 4803.48 | 4715.58 |
(b) Coffee | 270.34 | 289.82 | 290.92 | 1117.84 | 1118.82 |
(c) Others | 11.16 | 9.05 | 7.71 | 35.96 | 28.87 |
Total Branded Business | 1466.77 | 1537.60 | 1410.02 | 5957.28 | 5863.27 |
Non Branded Business | 224.42 | 225.54 | 199.17 | 890.05 | 815.58 |
Total Segment Revenue | 1691.19 | 1763.14 | 1609.19 | 6847.33 | 6678.85 |
Less: Inter segment Sales | (16.93) | (19.28) | (10.84) | (67.78) | (42.31) |
Income from Operations | 1674.26 | 1743.86 | 1598.35 | 6779.55 | 6636.54 |
Segment Results | |||||
Branded Business | |||||
(a) Tea | 112.96 | 143.55 | 137.07 | 577.72 | 578.58 |
(b) Coffee | 48.54 | 30.85 | 37.32 | 178.92 | 129.51 |
(c) Others | (7.26) | (6.23) | (10.40) | (22.11) | (27.57) |
Total Branded Business | 154.24 | 168.17 | 163.99 | 734.53 | 680.52 |
Non Branded Business | 46.09 | 28.66 | 23.90 | 136.97 | 72.00 |
Total Segment Results | 200.33 | 196.83 | 187.89 | 871.50 | 752.52 |
Add/Less | |||||
Finance Cost | (24.77) | (21.57) | (44.43) | (91.53) | (116.90) |
Other Unallocable items, Other Income & Exceptional Items | (78.30) | 19.92 | (340.87) | (118.01) | (465.86) |
Profit Before Tax | 97.26 | 195.18 | (197.41) | 661.96 | 169.76 |
Segment Assets | |||||
Branded Business | |||||
(a) Tea | 4145.91 | 4652.28 | 4403.46 | 4145.91 | 4403.46 |
(b) Coffee | 1763.13 | 1876.60 | 1843.32 | 1763.13 | 1843.32 |
(c) Others | 44.81 | 44.03 | 32.59 | 44.81 | 32.59 |
Total Branded Business | 5953.85 | 6572.91 | 6279.37 | 5953.85 | 6279.37 |
Non Branded Business | 965.55 | 913.43 | 901.79 | 965.55 | 901.79 |
Total Segment Assets | 6919.40 | 7486.34 | 7181.16 | 6919.40 | 7181.16 |
Unallocable Corporate Assets | 2665.48 | 2822.86 | 2830.44 | 2665.48 | 2830.44 |
Total Assets | 9584.88 | 10309.20 | 10011.60 | 9584.88 | 10011.60 |
Segment Liabilities | |||||
Branded Business | |||||
(a) Tea | 795.74 | 832.61 | 796.93 | 795.74 | 796.93 |
(b) Coffee | 178.62 | 209.16 | 164.39 | 178.62 | 164.39 |
(c) Others | 40.42 | 24.20 | 13.08 | 40.42 | 13.08 |
Total Branded Business | 1014.78 | 1065.97 | 974.40 | 1014.78 | 974.40 |
Non Branded Business | 111.25 | 116.14 | 100.10 | 111.25 | 100.10 |
Total Segment Liabilities | 1126.03 | 1182.11 | 1074.50 | 1126.03 | 1074.50 |
Unallocable Corporate Liabilities | 1273.85 | 1953.80 | 1828.16 | 1273.85 | 1828.16 |
Total Liabilities | 2399.88 | 3135.91 | 2902.66 | 2399.88 | 2902.66 |
Notes:
a. The group has organised business into Branded Segment and Non Branded Segment. Branded Segment is further sub-categorised as Branded Tea, Branded Coffee and the residual as Branded Others. Accordingly, the group has reported its segment results for these segments. This complies with Ind AS - 108 - Segment reporting principles, and is made effective from 1st April, 2015.
b. Business Segments: The internal business segmentation and the activities encompassed therein are as follows:
i) Branded Business -
Branded Tea : Sale of branded tea and various value added forms
Branded Coffee : Sale of coffee in various value added forms
Branded Others : Sale of water products
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 and exceptional items.
Harish Bhat | |
Mumbai: May 30, 2017 | (Chairman) |
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com,
Website : www.tataglobalbeverages.com
Audited Consolidated Statement of Assets and Liabilities as at March 31, 2017
Rs. in Crores
2017 | 2016 | April 1, 2015 | |
ASSETS | |||
Non-Current Assets | |||
Property Plant and Equipment | 698.17 | 731.37 | 666.57 |
Capital Work in Progress | 60.36 | 33.12 | 33.91 |
Investment Property | 68.66 | 70.09 | 71.18 |
Goodwill | 3497.91 | 3709.55 | 3804.30 |
Other Intangible Assets | 307.85 | 220.88 | 269.72 |
Intangible Assets under Development | 2.83 | 6.30 | 4.19 |
Investments accounted for using Equity method | 345.36 | 438.30 | 426.51 |
Financial Assets | |||
Investments | 939.33 | 684.22 | 1157.23 |
Loans | 58.70 | 58.72 | 109.70 |
Other Financial Assets | 37.67 | 39.87 | 36.49 |
Deferred Tax Assets (Net) | 61.98 | 116.84 | 71.18 |
Non-current Tax Assets (net) | 62.89 | 44.64 | 33.28 |
Other Non Current Assets | 81.69 | 115.18 | 74.74 |
6223.40 | 6269.08 | 6759.00 | |
Current Assets | |||
Inventories | 1452.96 | 1629.01 | 1562.10 |
Financial Assets | |||
Investments | 166.35 | 173.33 | 11.71 |
Trade Receivables | 592.45 | 592.43 | 581.09 |
Cash and Cash Equivalent | 565.72 | 492.87 | 554.80 |
Other Bank balances | 9.10 | 8.16 | 7.71 |
Loans | 277.57 | 601.18 | 585.12 |
Other Financial Assets | 81.08 | 79.47 | 81.14 |
Current Tax Assets (net) | 13.98 | 7.99 | 9.70 |
Other Current Assets | 150.44 | 158.08 | 126.63 |
3309.65 |
3742.52 |
3520.00 | |
Assets of disposal group | 51.83 | - | - |
TOTAL ASSETS | 9584.88 | 10011.60 | 10279.00 |
EQUITY AND LIABILITIES | |||
Equity |
| ||
Equity Share Capital | 63.11 | 63.11 | 61.84 |
Other Equity | 6202.39 | 6184.06 | 6422.42 |
Equity attributable to the equity holders of the company | 6265.50 | 6247.17 | 6484.26 |
Non Controlling Interest | 919.50 | 861.77 | 890.74 |
Total Equity | 7185.00 | 7108.94 | 7375.00 |
Share Suspense Account | - | - | 1.27 |
Non-Current Liabilities | |||
Financial Liabilities | |||
Borrowings | 450.10 | 504.12 | 914.36 |
Other Financial Liabilities | 6.71 | 7.33 | 11.63 |
Provisions | 208.97 | 291.76 | 249.28 |
Deferred Tax Liabilities (Net) | 207.36 | 195.41 | 160.98 |
873.14 | 998.62 | 1336.25 | |
Current Liabilities | |||
Financial Liabilities | |||
Borrowings | 320.23 | 408.56 | 385.92 |
Trade Payables | 737.76 | 677.30 | 688.62 |
Other Financial Liabilities | 244.08 | 636.86 | 303.67 |
Other Current Liabilities | 78.57 | 74.79 | 75.43 |
Provisions | 115.85 | 100.64 | 94.43 |
Current Tax Liabilities (net) | 4.50 | 5.89 | 18.41 |
1500.99 | 1904.04 | 1566.48 | |
Liabilities of disposal group | 25.75 | - | - |
TOTAL EQUITY AND LIABILITIES | 9584.88 | 10011.60 | 10279.00 |