TGBL.L Regulatory News (TGBL)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Consolidated Financial Results

for the three months ended March 31, 2014

 Rs. In Lakhs

Notes:

1. For the financial year, Income from operations at Rs 2683 crores increased by 15% over the previous year driven by improved performance in branded tea operations. Profit before exceptional items at Rs 413 crores is 36% higher than the previous year due to improved operating performance coupled with increase in Other Income. Profit after tax at Rs 447 crores is higher by 73% compared to previous year mainly reflecting the favorable impact of exceptional items.

2. For the quarter, Income from operations at Rs 633 crores increased by 9% over corresponding quarter of previous year reflecting improved performance in the branded tea operations. Profit before exceptional items at Rs 126 crores is 149% higher than corresponding quarter of previous year on account of improved operating performance and increase in Other Income. Consequently Profit after tax at Rs. 101 crores is also higher by 174% compared to corresponding quarter of previous year.

3. The financial results include the following under Exceptional Items :

In Rs Crores

4. 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 :

5. 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 (MEMW), 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. The scheme is proposed to be placed for approval at a Court convened meeting ot he shareholders of the Company to be held on June 4, 2014. 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 operation results of MEMW 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.

6. 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.

7. Investor complaints :

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

9. Figures of the quarter ended March 31, 2014 and March 31, 2013 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.

10. Statement of Asset and Liabilities as at march 31, 2014 along with comparatives is annexed.

11. The Board of Directors has recommended a dividend payment of Rs. 2.25 per share (Face value Re. 1 each) for the year ended March 31, 2014.

12. The aforementioned results were reviewed by the Audit Committee of the Board on May 27, 2014 and subsequently taken on record by the Board of Directors at its Meeting held on may 28, 2014. The statutory auditors of the company have audited these results.

Cyrus P Mistry

(Chairman)

Mumbai: May 28, 2014

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Audited Statement of Assets and Liabilities as at March 31, 2014

 Rs. In Lakhs

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Consolidated Financial Results

for the three months ended March 31, 2014

 Rs. In Lakhs

Notes:

1. For the financial year, Income from operations at Rs 7738 crores increased by 5%. Profit before exceptional items at Rs 618 crores is 7% lower than the previous year due to higher expenditure on brands and new initiatives. Post the favourable impact of exceptional items, the Group Consolidated Net Profit is Rs. 481 crores, an increase of 29%.

2. For the quarter, Income from operations at Rs. 1910 crores increased by 3% year on year. Profit before exceptional items at Rs. 150 crores is 17% lower than the corresponding quarter due to higher expenditure on brands and new initiatives. Post the impact of exceptional items, the Group Consolidated Net Profit is Rs 69 crores, lower by 28%.

3. The financial results includes following under Exceptional items :

In Rs Crores

4. 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 :

EPS, excluding the impact of exceptional items, for the year is lower by 8% as compared to the previous year due to higher expenditure on brands and new initiatives.

5. Actuarial gain (net of tax and minority interest) of Rs. 5.24 crores for the year (los of Rs. 18.77 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 recognizing 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 wolf have been higher by Rs. 5.24 crores for the year (lower by Rs. 18.77 crores for the quarter)

The Statutory Auditors have invited attention to this in their Audit Report.

6. 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. The scheme is proposed to be placed for approval at a Court convened meeting of shareholders of the Holding Company to be held on June 4, 2014. 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 could 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.

7. During the year, Tata Coffee Limited (TCL), Indian subsidiary of the Holding Company, has filed for merger of its wholly owned subsidiary Alliance Coffee Limited (ACL) with the Honorable High Court of Karnataka. The operating results of ACL would be reflected by TCL from the appointed date of April 1, 2013 on approval of the said scheme which is pending with Honorable High Court of Karnataka. 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 TCL.

8. 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 :

9. Figures for the quarter ended March 31, 2014 and March 31, 2013 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.

10. Consolidated statement of Asset and Liabilities as at March 31, 2014 along with comparatives is annexed.

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

12. The aforementioned results were reviewed by the Audit Committee of the Board on May 27, 2014 and subsequently taken on record by the Board of Directors at its Meeting held on may 28, 2014. The statutory auditors of the company have audited the annual results.

Cyrus P Mistry

(Chairman)

Mumbai: May 28, 2014

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Consolidated Segment wise Revenue, Results and Capital Employed,

under Clause 41, of the Listing Agreement for the three months ended March 31, 2014

 Rs. In Lakhs

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 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 periods classifications.

Mumbai : May 28, 2014 Cyrus P Mistry

(Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Audited Consolidated Statement of Assets and Liabilities as at March 31, 2014

Rs. In Lakhs