30 May 2008 15:12
Tata Tea Limited Registered Office: 1 Bishop Lefroy Road, Kolkata-700020 | |||||||||||||||||
Audited Financial Results | |||||||||||||||||
for three months ended March 31, 2008 | |||||||||||||||||
Rs in crores | |||||||||
Nine months ended December | Quarter ended | Year ended | |||||||
March 31 | March 31 | ||||||||
2007 | 2008 | 2007 | 2008 | 2007 | |||||
Income from Operations | 878.41 | 275.02 | 251.23 | 1153.43 | 1070.35 | ||||
Other Income - Income from Investments (Net) | 88.84 | 21.02 | 7.80 | 109.86 | 75.76 | ||||
Total Expenditure | 735.81 | 251.48 | 240.93 | 987.29 | 891.21 | ||||
(a) (Increase) / Decrease in stock | 14.59 | 3.80 | 23.48 | 18.39 | (15.59) | ||||
(b) Consumption of raw materials | 410.78 | 138.47 | 79.39 | 549.25 | 322.63 | ||||
(c) Purchase of traded goods | 26.14 | 0.35 | 0.20 | 26.49 | 32.55 | ||||
(d) Staff Costs | 52.16 | 19.67 | 40.59 | 71.83 | 179.15 | ||||
(e) Advertisement & Sales charges | 76.99 | 23.21 | 24.44 | 100.20 | 92.75 | ||||
(f) Depreciation & Amortization | 7.80 | 2.37 | 4.66 | 10.17 | 18.54 | ||||
(g) Other Expenditure | 147.35 | 63.61 | 68.17 | 210.96 | 261.18 | ||||
Profit before Interest | 231.44 | 44.56 | 18.10 | 276.00 | 254.90 | ||||
Interest (Net) | 17.16 | 4.72 | 2.16 | 21.88 | 11.63 | ||||
Interest on Loans for acquisition | 24.47 | - | 14.27 | 24.47 | 26.68 | ||||
Profit before Tax and exceptional items | 189.81 | 39.84 | 1.67 | 229.65 | 216.59 | ||||
Exceptional Income / (Expenditure) (Net) | (3.29) | 159.50 | 6.03 | 156.21 | 133.18 | ||||
Profit before Tax | 186.52 | 199.34 | 7.70 | 385.86 | 349.77 | ||||
Provision for Taxation | |||||||||
(a) Current | 51.72 | 21.42 | 2.25 | 73.14 | 40.30 | ||||
(b) Deferred | (0.70) | (1.54) | 0.76 | (2.24) | 0.25 | ||||
(c) Fringe Benefit Tax | 1.50 | 0.60 | 0.80 | 2.10 | 2.65 | ||||
Profit after Tax | 134.00 | 178.86 | 3.89 | 312.86 | 306.57 | ||||
Paid up Equity Share Capital (face value of Rs 10 each) | 61.84 | 61.84 | 59.03 | 61.84 | 59.03 | ||||
Reserves excluding Revaluation Reserves | - | 1720.35 | 1462.83 | ||||||
Earnings per share (Basic & diluted) (Not annualised) - Rs | 21.78 | 28.92 | 0.66 | 50.79 | 53.56 | ||||
Aggregate of Public Shareholding (excludes shares held against GDRs) | |||||||||
-Number of Shares | 399,28,634 | 399,78,634 | 399,17,866 | 399,78,634 | 399,17,866 | ||||
-Percentage of Share holding | 64.56% | 64.65% | 67.62% | 64.65% | 67.62% | ||||
Notes:
Particulars of Complaints | Numbers |
Outstanding as on January 1, 2008 Received during the quarter Resolved during the quarter Outstanding as on March 31, 2008 | Nil 4 4 Nil |
7. Previous period's figures have been rearranged to the extent necessary, to conform to the current period's figures. These figures are strictly not comparable with the figures reported in the current year, due to the transfer of North India Plantation Division during the current year. Figures for the nine months ended December 31, 2007 have been restated to exclude NIPD consequent to its transfer to APPL.
8. The Board of Directors has recommended a normal dividend payment of 150% (Previous year 150%) and a special onetime dividend of 200%.
9. The aforementioned results were reviewed by the Audit Committee of the Board on May 28, 2008 and subsequently taken on record by the Board of Directors at its Meeting held on May 30, 2008. The statutory auditors of the company have audited these results.
Ratan N Tata
Mumbai: May 30, 2008 (Chairman)
Audited Consolidated Financial Results | |||||||||||||
for the year ended March 31, 2008 | |||||||||||||
Rs in crores | |||||||||||||
Nine months ended December | Three months ended | Year Ended | |||||||||||
March 31 | March 31 | ||||||||||||
2007 | 2008 | 2007 | 2008 | 2007 | |||||||||
Income from Operations | 3215.51 | 1176.80 | 1159.10 | 4392.31 | 4044.55 | ||||||||
Other Income - Income from Investments (Net) | 33.80 | 5.90 | 3.49 | 39.70 | 58.67 | ||||||||
Total Expenditure | 2735.04 | 1038.72 | 1017.74 | 3773.76 | 3437.05 | ||||||||
(a) (Increase) / Decrease in stock | 22.82 | 7.79 | 21.94 | 30.61 | (47.31) | ||||||||
(b) Consumption of raw materials | 877.36 | 335.21 | 262.02 | 1212.57 | 921.25 | ||||||||
(c) Purchase of traded goods | 130.49 | 42.18 | 55.57 | 172.67 | 172.96 | ||||||||
(d) Staff Costs | 318.71 | 115.19 | 140.70 | 433.90 | 520.02 | ||||||||
(e) Advertisement & Sales charges | 682.18 | 255.61 | 258.81 | 937.79 | 846.70 | ||||||||
(f) Depreciation and Amortization (net of amount drawn from Revaluation Reserve) | 68.18 | 23.45 | 24.49 | 91.63 | 96.71 | ||||||||
(g) Other Expenditure | 635.30 | 259.29 | 254.21 | 894.59 | 926.72 | ||||||||
Profit before Interest | 514.27 | 143.98 | 144.85 | 658.25 | 666.17 | ||||||||
Interest Expense (Net) | 67.98 | (7.12) | 30.76 | 60.86 | 106.82 | ||||||||
Interest on Loans for acquisition | 141.62 | 18.88 | 76.64 | 160.50 | 166.11 | ||||||||
Exchange gain / (loss) | 60.31 | (4.13) | 1.66 | 56.18 | 34.72 | ||||||||
Profit before Tax and exceptional items | 364.98 | 128.09 | 39.11 | 493.07 | 427.96 | ||||||||
Exceptional Income/(Expenditure) (Net) | |||||||||||||
- Profit on sale of Investments in Energy Brands Inc. (Refer Note 2) | 1604.74 | 2.78 | - | 1607.52 | - | ||||||||
- Actuarial (Loss)/ /Gain on defined benefit scheme. | - | (27.28) | 27.49 | (27.28) | 27.49 | ||||||||
- Others | (87.47) | 73.44 | 2.65 | (14.03) | 110.16 | ||||||||
Profit before Tax | 1882.25 | 177.03 | 69.25 | 2059.28 | 565.61 | ||||||||
Provision for Taxation | |||||||||||||
(a) Current Tax | 88.88 | 53.45 | 5.53 | 142.33 | 96.35 | ||||||||
(b) Deferred Tax | 3.05 | 5.11 | (1.70) | 8.16 | 3.38 | ||||||||
(c) Fringe Benefit Tax | 2.07 | 0.84 | 5.48 | 2.91 | 7.87 | ||||||||
Profit after Tax | 1788.25 | 117.63 | 59.94 | 1905.88 | 458.01 | ||||||||
Share of Profit from Associates | 25.06 | 3.81 | 9.14 | 28.87 | 17.95 | ||||||||
Minority Interest in Consolidated Profit | (383.76) | (8.44) | (17.07) | (392.20) | (32.61) | ||||||||
Group Consolidated Net Profit | 1429.55 | 113.00 | 52.01 | 1542.55 | 443.35 | ||||||||
Paid up Equity Share Capital(face value of | 61.84 | 61.84 | 59.03 | 61.84 | 59.03 | ||||||||
Rs 10 each) | |||||||||||||
Reserves excluding Revaluation Reserves | - | - | - | 3373.90 | 2044.20 | ||||||||
Earnings per share (Basic & Diluted ) (Not annualised) - Rs | 232.36 | 18.27 | 8.81 | 250.41 | 77.46 | ||||||||
Aggregate of Public Shareholding (excludes shares held against GDRs) | |||||||||||||
-Number of Shares | 399,28,634 | 399,78,634 | 399,17,866 | 399,78,634 | 39,917,866 | ||||||||
-Percentage of Share holding | 64.56% | 64.65% | 67.62% | 64.65% | 67.62% | ||||||||
Ratan N Tata
Mumbai: May 30, 2008 (Chairman)
Notes:
Under Indian GAAP, The Tetley Group's (the Company's 77.78% UK subsidiary) turnover for the Financial Year 2007/08 was Rs 2301 crores compared to Rs 2298 crores in the previous year. The turnover increased by 6% over the previous year at constant exchange rates. The Tetley Group, inclusive of profit on sale of investment in EBI, reported a PAT of Rs 1697.72 crores compared to Rs 126.63 crores during the previous year.
Ratan N Tata (Chairman)
Mumbai: May 30, 2008
Audited Consolidated Segment wise Revenue, Results and Capital Employed, under | ||||||
Clause 41, of the Listing Agreement for the Year ended March 31, 2008 | ||||||
Rs in crores | ||||||
Particulars | Nine months ended December 31st 2007 | 3 months ended March 31st 2008 | Year Ended March 31st 2008 | Previous year ended March 31st 2007 | ||
1. | Segment Revenue | |||||
(a) Tea | 2523.42 | 908.96 | 3432.38 | 3332.19 | ||
(b) Coffee & Other Produce | 673.98 | 255.32 | 929.30 | 692.26 | ||
(c) Others | 13.42 | 18.87 | 32.29 | 18.79 | ||
(d) Unallocated | 38.49 | (0.45) | 38.04 | 59.98 | ||
Total Revenue | 3249.31 | 1182.70 | 4432.01 | 4103.22 | ||
2. | Segment Results | |||||
(a) Tea | 413.01 | 114.72 | 527.73 | 551.34 | ||
(b) Coffee & Other Produce | 107.81 | 27.55 | 135.36 | 101.90 | ||
(c) Others | 1.27 | (4.06) | (2.79) | 1.13 | ||
Total | 522.09 | 138.21 | 660.30 | 654.37 | ||
Add/(Less) | ||||||
i) Interest | (67.98) | 7.12 | (60.86) | (106.82) | ||
ii) Interest on loans for acquisition | (141.62) | (18.88) | (160.50) | (166.11) | ||
| iii) Exchange gain | 60.31 | (4.13) | 56.18 | 34.72 | |
iv) Other Un-allocable Income net of Un-allocable Expenditure | 1509.45 | 54.71 | 1564.16 | 149.45 | ||
Total Profit before Tax | 1882.25 | 177.03 | 2059.28 | 565.61 | ||
3. | Capital Employed | |||||
(a) Tea | 2909.54 | 2648.95 | 2648.95 | 2957.01 | ||
(b) Coffee & Other Produce | 1266.80 | 1221.17 | 1221.17 | 1278.84 | ||
(c) Others | 4.81 | 30.25 | 30.25 | 6.22 | ||
(d) Unallocated | 29.20 | 562.97 | 562.97 | (1459.39) | ||
Total | 4210.35 | 4463.34 | 4463.34 | 2782.68 |
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 : Growing and sales of coffee, pepper and other plantation crops and sales of coffee converted into value added | |||||
products such as roast and ground coffee & instant coffee. | |||||
Others : Sale of natural Mineral Water , other minor crops and curing operations of coffee and trading of items required for coffee plantations. | |||||
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 and includes | |||||
Exceptional items. Unallocable income includes income from investments. | |||||
c. Comparative quarterly figures for previous period have not been given as segment results are being reported, as required under the | |||||
clause 41 of the listing agreement, with effect from the current year. | |||||