19 Nov 2020 09:13
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Financial Results for the quarter and six months ended September 30, 2020
Rs. In Crores
Particulars | Three months ended | Year to date ended | Year ended | |||
September 30, 2020 | June 30, 2020 | September 30, 2019* | September 30, 2020 | September 30, 2019* | March 31, 2020 | |
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
Revenue from Operations | 2781.34 | 2713.91 | 2347.07 | 5495.25 | 4739.43 | 9637.42 |
Other Income | 26.22 | 32.71 | 28.03 | 58.93 | 61.12 | 111.59 |
Total Income | 2807.56 | 2746.62 | 2375.10 | 5554.18 | 4800.55 | 9749.01 |
Cost of Materials Consumed | 1208.11 | 1013.85 | 907.68 | 2221.96 | 1786.89 | 3606.66 |
Purchase of stock in trade | 518.98 | 533.32 | 436.46 | 1052.30 | 846.37 | 1796.24 |
Changes in inventories of finished goods, work in progress and stock in trade | (80.94) | (46.55) | (18.14) | (127.49) | 57.65 | 7.78 |
Employee Benefits Expense | 229.73 | 229.05 | 220.05 | 458.78 | 433.81 | 884.80 |
Finance Costs | 17.87 | 17.28 | 20.41 | 35.15 | 39.04 | 77.86 |
Depreciation and Amortisation Expense | 62.57 | 61.90 | 58.66 | 124.47 | 116.23 | 241.71 |
Advertisement and Sales charges | 166.38 | 133.76 | 162.68 | 300.14 | 293.96 | 676.72 |
Other Expenses | 339.50 | 367.83 | 323.55 | 707.33 | 655.09 | 1373.07 |
Total Expenses | 2462.20 | 2310.44 | 2111.35 | 4772.64 | 4229.04 | 8664.84 |
Profit before Exceptional Items and Tax | 345.36 | 436.18 | 263.75 | 781.54 | 571.51 | 1084.17 |
Exceptional Items (Net) | (23.90) | 63.31 | (1.50) | 39.41 | (9.56) | (274.79) |
Profit before Tax | 321.46 | 499.49 | 262.25 | 820.95 | 561.95 | 809.38 |
Tax Expense | ||||||
Current tax | (25.18) | (27.10) | (18.97) | (52.28) | (37.24) | (89.05) |
Deferred tax | (61.95) | (83.30) | (44.63) | (145.25) | (128.54) | (185.14) |
Total Tax Expense (Net) | (87.13) | (110.40) | (63.60) | (197.53) | (165.78) | (274.19) |
Net Profit after Tax | 234.33 | 389.09 | 198.65 | 623.42 | 396.17 | 535.19 |
Share of net profit/(loss) in Associates and Joint Ventures using equity method | 38.85 | (43.54) | 9.24 | (4.69) | 1.81 | (75.08) |
Group Consolidated Net Profit (A) | 273.18 | 345.55 | 207.89 | 618.73 | 397.98 | 460.11 |
Attributable to : | ||||||
Owners of the Parent | 257.06 | 327.56 | 193.16 | 584.62 | 366.90 | 459.76 |
Non Controlling Interest | 16.12 | 17.99 | 14.73 | 34.11 | 31.08 | 0.35 |
Other Comprehensive Income | ||||||
i) Items that will not be reclassified to profit or loss | ||||||
Remeasurement of the defined benefit plans | (7.18) | (61.73) | 20.75 | (68.91) | 16.89 | 31.18 |
Changes in fair valuation of equity instruments | 1.07 | 1.60 | (4.25) | 2.67 | (0.21) | 12.50 |
| (6.11) | (60.13) | 16.50 | (66.24) | 16.68 | 43.68 |
Tax impact on above items | 0.72 | 7.14 | (4.78) | 7.86 | (2.17) | (3.31) |
| (5.39) | (52.99) | 11.72 | (58.38) | 14.51 | 40.37 |
ii) Items that will be reclassified to profit or loss | ||||||
Exchange differences on translation of foreign operations | 29.91 | (10.22) | 30.88 | 19.69 | (59.73) | 225.69 |
Gains/(loss) on Effective portion of cash flow hedges | 30.84 | (38.27) | (24.06) | (7.43) | (1.14) | 13.48 |
| 60.75 | (48.49) | 6.82 | 12.26 | (60.87) | 239.17 |
Tax impact on above items | (6.60) | 8.25 | 4.63 | 1.65 | (1.04) | 1.94 |
| 54.15 | (40.24) | 11.45 | 13.91 | (61.91) | 241.11 |
Total Other Comprehensive Income (B) | 48.76 | (93.23) | 23.17 | (44.47) | (47.40) | 281.48 |
Attributable to : | ||||||
Owners of the Parent | 42.21 | (80.85) | 21.40 | (38.64) | (36.40) | 233.89 |
Non Controlling Interest | 6.55 | (12.38) | 1.77 | (5.83) | (11.00) | 47.59 |
Total Comprehensive Income (A+B) | 321.94 | 252.32 | 231.06 | 574.26 | 350.58 | 741.59 |
Attributable to : | ||||||
Owners of the Parent | 299.27 | 246.71 | 214.56 | 545.98 | 330.50 | 693.65 |
Non Controlling Interest | 22.67 | 5.61 | 16.50 | 28.28 | 20.08 | 47.94 |
Paid-up equity share capital (Face value of Re 1 each) | 92.16 | 92.16 | 92.16 | 92.16 | 92.16 | 92.16 |
Reserves excluding Revaluation Reserve | 13700.84 | |||||
Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs | 2.79 | 3.55 | 2.10 | 6.34 | 3.98 | 4.99 |
* Restated (Refer Note 6)
Notes:
1. For the quarter, Revenue from operations increased by 19% (16% in constant currency) as compared to corresponding quarter of the previous year led by volume and value growth in both branded and non-branded business. Profit before exceptional items and tax at Rs 345 Crores is higher by 31% as compared to corresponding quarter of the previous year, mainly on account of growth in revenue, and control over expenditure partly offset by higher commodity costs in India. Group Consolidated Net Profit is higher by 31% benefitting from higher shares of profits in Associates & Joint Ventures partly offset by exceptional costs.
2. In the current COVID environment, the Group's business segments in out of home consumption continues to be adversely impacted although there is an improving trend (including operations of the Group's joint venture Tata Starbucks). There can be future business uncertainties depending on developments in relation to the pandemic which would include supply constraints and commodity cost volatility.
3. Exceptional item for the current quarter represent costs relating to the business integration of foods business of Rs 10 Crores, redundancy cost of Rs 9 Crores and impairment of assets of Rs 5 Crores. Exceptional items for the corresponding quarter of the previous year represent costs relating to scheme of merger.
4. The Indian Parliament has approved the Code on Social Security, 2020. Pending notification of the effective date and the relevant rules, the financial impact has not been quantified.
5. Share of profits/(loss) in Associates and Joint Ventures include the profits/(loss) of an Associate operating in North India plantations, which are seasonal in nature.
6. Figures of the quarter and year to date ended September 30, 2019 as reported have been restated consequent to the demerger and transfer of Consumer Product Business (foods business) of Tata Chemicals Limited with the Company as the 'Appointed date' of the Scheme was April 1, 2019.
7. The Consolidated Statement of Assets and Liabilities as at September 30, 2020 and Consolidated Cash Flow Statement for the period ended September 30, 2020 is annexed.
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 November 05, 2020 and subsequently taken on record by the Board of Directors at its Meeting held on November 06, 2020. The Statutory Auditors of the Company have conducted limited review on these results.
10. The Consolidated and Standalone result for the quarter and six months ended September 30, 2020 are available on the BSE website (URL: www.bseindia.com), the National Stock Exchange website (URL: www.nseindia.com) and on the Company's website (URL: www.tataconsumer.com).
Sunil D'Souza
Managing Director and CEO
Mumbai: November 6, 2020
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Segment wise Revenue, Results, Assets and Liabilities for the quarter and six months ended September 30, 2020
Rs. In Crores
Particulars | Three months ended | Year to date ended | Year ended | |||
September 30, 2020 | June 30,2020 | September 30, 2019* | September 30, 2020 | September 30, 2019* | March 31,2020 | |
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
Segment Revenue | ||||||
Branded Business | ||||||
India - Beverages | 1120.00 | 1000.46 | 847.57 | 2120.46 | 1748.94 | 3376.89 |
India - Foods | 580.31 | 589.06 | 513.02 | 1169.37 | 1008.24 | 2063.74 |
International - Beverages | 800.50 | 867.38 | 745.71 | 1667.88 | 1499.99 | 3226.04 |
Total Branded Business | 2500.81 | 2456.90 | 2106.30 | 4957.71 | 4257.17 | 8666.67 |
Non Branded Business | 287.64 | 264.42 | 242.23 | 552.06 | 485.15 | 974.94 |
Total Segment Revenue | 2788.45 | 2721.32 | 2348.53 | 5509.77 | 4742.32 | 9641.61 |
Others | 3.24 | 1.07 | 5.97 | 4.31 | 12.01 | 26.63 |
Less: Inter segment Sales | (10.35) | (8.48) | (7.43) | (18.83) | (14.90) | (30.82) |
Revenue from Operations | 2781.34 | 2713.91 | 2347.07 | 5495.25 | 4739.43 | 9637.42 |
Segment Results | ||||||
Branded Business | ||||||
India - Beverages | 149.33 | 215.30 | 112.40 | 364.63 | 250.43 | 465.14 |
India - Foods | 92.95 | 114.56 | 68.48 | 207.51 | 142.97 | 266.45 |
International - Beverages | 100.72 | 125.49 | 74.01 | 226.21 | 153.25 | 360.76 |
Total Branded Business | 343.00 | 455.35 | 254.89 | 798.35 | 546.65 | 1092.35 |
Non Branded Business | 18.11 | 13.95 | 16.35 | 32.06 | 38.30 | 55.65 |
Total Segment Results | 361.11 | 469.30 | 271.24 | 830.41 | 584.95 | 1148.00 |
Add/(Less) | ||||||
Other Income | 23.97 | 29.29 | 25.25 | 53.26 | 55.28 | 93.35 |
Finance Cost | (17.87) | (17.28) | (20.41) | (35.15) | (39.04) | (77.86) |
Unallocable items | (21.85) | (45.13) | (12.33) | (66.98) | (29.68) | (79.32) |
Exceptional Items | (23.90) | 63.31 | (1.50) | 39.41 | (9.56) | (274.79) |
Profit Before Tax | 321.46 | 499.49 | 262.25 | 820.95 | 561.95 | 809.38 |
Segment Assets | ||||||
Branded Business | ||||||
India - Beverages | 2478.25 | 1543.00 | 1697.68 | 2478.25 | 1697.68 | 1554.03 |
India - Foods | 6188.80 | 6204.81 | 6,251.61 | 6188.80 | 6251.61 | 6,231.66 |
International - Beverages | 5304.98 | 5355.44 | 5305.35 | 5304.98 | 5305.35 | 5352.99 |
Total Branded Business | 13972.03 | 13103.25 | 13254.64 | 13972.03 | 13254.64 | 13138.68 |
Non Branded Business | 1515.36 | 1575.68 | 1540.06 | 1515.36 | 1540.06 | 1599.93 |
Total Segment Assets | 15487.39 | 14678.93 | 14794.70 | 15487.39 | 14794.70 | 14738.61 |
Unallocable Corporate Assets | 3916.82 | 4308.73 | 3049.37 | 3916.82 | 3049.37 | 3763.99 |
Total Assets | 19404.21 | 18987.66 | 17844.07 | 19404.21 | 17844.07 | 18502.60 |
Segment Liabilities | ||||||
Branded Business | ||||||
India - Beverages | 1036.99 | 715.00 | 570.10 | 1036.99 | 570.10 | 538.32 |
India - Foods | 284.15 | 243.15 | 164.91 | 284.15 | 164.91 | 240.72 |
International - Beverages | 711.69 | 754.15 | 695.64 | 711.69 | 695.64 | 759.99 |
Total Branded Business | 2032.83 | 1712.30 | 1430.65 | 2032.83 | 1430.65 | 1539.03 |
Non Branded Business | 178.36 | 158.34 | 161.33 | 178.36 | 161.33 | 186.98 |
Total Segment Liabilities | 2211.19 | 1870.64 | 1591.98 | 2211.19 | 1591.98 | 1726.01 |
Unallocable Corporate Liabilities | 1972.15 | 1976.10 | 1727.42 | 1972.15 | 1727.42 | 1869.26 |
Total Liabilities | 4183.34 | 3846.74 | 3319.40 | 4183.34 | 3319.40 | 3595.27 |
* Restated (Refer Note 6)
Notes:
a. The Group has organised business into Branded Segment and Non Branded Segment. Branded Segment is further sub-categorised as India Beverages, India Foods and International Beverages. Accordingly, the group has reported its segment results for these segments.
b. Business Segments: The internal business segmentation and the activities encompassed therein are as follows:
i) Branded Business -
India Beverages : Sale of branded Tea, Coffee and Water in various value added forms
India Foods : Sale of food products in various value added forms
International Beverages : Sale of branded Tea, Coffee and Water in various value added forms
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 excludes allocable income to segment results.
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Statement of Assets and Liabilities as at September 30, 2020
Rs. In Crores
As atSeptember 30, 2020 | As atMarch 31,2020 | |
Unaudited | Audited | |
ASSETS | ||
Non-Current Assets | ||
Property Plant and Equipment | 1179.02 | 1207.50 |
Capital Work in Progress | 80.42 | 87.56 |
Investment Property | 49.59 | 50.04 |
Right of Use Assets | 279.66 | 293.46 |
Goodwill | 7426.80 | 7333.83 |
Other Intangible Assets | 2745.04 | 2771.21 |
Intangible Assets under Development | 9.11 | 7.79 |
Investments accounted for using Equity method | 307.01 | 228.19 |
Financial Assets | ||
Investments | 268.19 | 261.11 |
Loans | 22.99 | 22.50 |
Other Financial Assets | 34.37 | 32.17 |
Deferred Tax Assets (Net) | 28.87 | 29.56 |
Non-current Tax Assets (net) | 134.48 | 146.06 |
Other Non Current Assets | 361.02 | 349.56 |
12926.57 | 12820.54 | |
Current Assets | ||
Inventories | 2574.73 | 1712.03 |
Financial Assets | ||
Investments | 233.86 | 833.55 |
Trade Receivables | 750.74 | 922.41 |
Cash and Cash Equivalent | 1418.27 | 1121.67 |
Other Bank balances | 862.92 | 499.79 |
Loans | 144.76 | 116.54 |
Other Financial Assets | 117.18 | 173.24 |
Current Tax Assets (net) | 4.13 | 1.17 |
Other Current Assets | 371.05 | 301.66 |
6477.64 | 5682.06 | |
TOTAL ASSETS | 19404.21 | 18502.60 |
EQUITY AND LIABILITIES | ||
Equity | ||
Equity Share Capital | 92.16 | 92.16 |
Other Equity | 14019.89 | 13722.70 |
Equity attributable to the equity holders of the company | 14112.05 | 13814.86 |
Non Controlling Interest | 1108.82 | 1092.47 |
Total Equity | 15220.87 | 14907.33 |
Non-Current Liabilities | ||
Financial Liabilities | ||
Borrowings | 728.16 | 794.67 |
Lease Liability | 286.62 | 291.96 |
Other Financial Liabilities | 11.49 | 13.93 |
Provisions | 197.86 | 183.22 |
Deferred Tax Liabilities (Net) | 458.72 | 316.03 |
Non Current Tax Liabilities | 16.39 | 16.86 |
1699.24 | 1616.67 | |
Current Liabilities | ||
Financial Liabilities | ||
Borrowings | 411.97 | 387.81 |
Lease Liability | 34.31 | 37.97 |
Trade Payables | 1431.23 | 943.99 |
Other Financial Liabilities | 370.95 | 382.55 |
Other Current Liabilities | 114.73 | 100.25 |
Provisions | 88.72 | 92.41 |
Current Tax Liabilities (net) | 32.19 | 33.62 |
2484.10 | 1978.60 | |
TOTAL EQUITY AND LIABILITIES | 19404.21 | 18502.60 |
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Consolidated Statement of Cash Flows for the six months ended September 30, 2020
Rs. In Crores
Particulars | September 30,2020 | September 30,2019 | |
A. | Cash Flow from Operating Activities | ||
Net Profit before Tax | 820.95 | 561.95 | |
Adjusted for : | |||
Depreciation and Amortisation | 124.47 | 116.23 | |
Finance Cost | 35.15 | 39.04 | |
Dividend Income | (2.30) | (3.24) | |
Profit on sale of current investments (net) | (8.76) | (18.06) | |
Fair value movement in Financial instruments at fair value through profit or loss | (4.82) | (1.24) | |
Interest Income | (37.43) | (32.92) | |
Unrealised foreign exchange (gain) / loss | 5.00 | (1.83) | |
Impairment loss recognised in trade receivables | 16.12 | 3.84 | |
Other non operating income | - | (1.83) | |
(Profit) / Loss on sale of Property, Plant & Equipment including Investment property (net) | 0.23 | 0.03 | |
Rental Income from Investment Property | (2.08) | (1.21) | |
Exceptional items - | |||
Gain on conversion of a Joint Venture into a Subsidiary | (84.30) | - | |
Impairment of Asset | 4.59 | - | |
Other Exceptional Expenses | 40.30 | 9.56 | |
Operating Profit before working capital changes | 907.12 | 670.32 | |
Adjustments for: | |||
Trade Receivables & Other Assets | 165.93 | (347.28) | |
Inventories | (854.21) | 3.81 | |
Trade payables & Other Liabilities | 359.39 | (23.64) | |
Cash generated from /(used in) operations | 578.23 | 303.21 | |
Direct taxes paid (net) | (45.46) | (73.39) | |
Net Cash from /(used in) Operating Activities | 532.77 | 229.82 | |
B. | Cash Flow from Investing Activities | ||
Payment for Property, Plant and Equipment including Intangibles assets | (63.12) | (59.17) | |
Sale of Property, Plant and Equipment | 1.10 | 1.75 | |
Rental Income from Investment Property | 2.08 | 1.21 | |
Purchase of Non-Current Investments | - | (0.16) | |
Acquisition of Business | - | (101.01) | |
Acquisition of a Subsidiary | (13.00) | - | |
Investments in Joint Ventures | (97.50) | (53.00) | |
(Purchase) / Sale of Current Investments (net) | 608.92 | 321.27 | |
(Placement) / Redemption Fixed deposits (net) | (363.89) | (288.00) | |
Inter Corporate Loans and Deposits (net) | (33.00) | 86.04 | |
Dividend Income received (including dividend from Associates & JVs) | 5.04 | 4.73 | |
Interest Income received | 32.71 | 15.01 | |
Net cash from /(used in) Investing Activities | 79.34 | (71.33) | |
C. | Cash Flow from Financing Activities | ||
Proceeds / (Repayment) from Long term borrowings (net) | (30.85) | (2.24) | |
Availment / (Repayment) of short term borrowings (net) | 20.82 | 76.24 | |
Payment of Lease Liabilities | (22.43) | (20.58) | |
Finance Cost paid | (32.36) | (35.04) | |
Dividend & Dividend Tax paid | (260.75) | (216.06) | |
Refund of Dividend Distribution Tax paid in an earlier year | 9.07 | - | |
Net Cash from / (used in) Financing Activities | (316.50) | (197.68) | |
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) | 295.61 | (39.19) | |
Opening balance of Cash and Cash Equivalent | 889.34 | 737.48 | |
Cash and Cash equivalent on acquisition of a subsidiary | 5.11 | - | |
Exchange Gain/ (Loss) on translation of foreign currency Cash and Cash equivalents | (10.00) | (8.13) | |
Closing Cash and Cash Equivalent | 1180.06 | 690.16 | |
Reconciliation with Balance Sheet | |||
Cash and Cash Equivalents | 1180.06 | 690.16 | |
Add : Bank Overdraft | 238.21 | 244.73 | |
Balance at the end of the period | 1418.27 | 934.89 |
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Standalone Financial Results for the quarter and six months ended September 30, 2020
Rs. In Crores
Particulars
| Three months ended | Year to date ended | Year ended | |||
September 30 | June 30 | September 30 * | September 30 | September 30* | March 31 | |
2020 | 2020 | 2019 | 2020 | 2019 | 2020 | |
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
Revenue from Operations | 1736.14 | 1605.43 | 1427.16 | 3341.57 | 2891.20 | 5690.24 |
Other Income | 33.57 | 45.70 | 35.30 | 79.27 | 76.24 | 117.75 |
Total Income | 1769.71 | 1651.13 | 1462.46 | 3420.84 | 2967.44 | 5807.99 |
Cost of materials consumed | 863.14 | 603.91 | 597.60 | 1467.05 | 1176.47 | 2305.02 |
Purchase of stock-in-trade | 353.86 | 340.15 | 274.94 | 694.01 | 527.23 | 1123.86 |
Changes in inventories of finished goods, work-in-progress & stock-in-trade | (87.74) | 5.62 | (0.10) | (82.12) | 81.06 | 44.36 |
Employees benefits expense | 77.45 | 71.77 | 78.80 | 149.22 | 146.69 | 283.44 |
Finance costs | 6.46 | 6.53 | 5.90 | 12.99 | 11.78 | 25.73 |
Depreciation and amortisation expense | 30.84 | 29.59 | 27.17 | 60.43 | 52.42 | 114.82 |
Advertisement and sales charges | 90.04 | 56.49 | 96.65 | 146.53 | 169.30 | 384.91 |
Other expenses | 185.66 | 201.81 | 175.48 | 387.47 | 353.70 | 744.63 |
Total Expenses | 1,519.71 | 1315.87 | 1256.44 | 2835.58 | 2518.65 | 5026.77 |
Profit before Exceptional Items and Tax | 250.00 | 335.26 | 206.02 | 585.26 | 448.79 | 781.22 |
Exceptional Items (Net) | (19.30) | (21.00) | (1.50) | (40.30) | (9.56) | (51.81) |
Profit before Tax | 230.70 | 314.26 | 204.52 | 544.96 | 439.23 | 729.41 |
Tax Expense | ||||||
Current Tax | (1.83) | (1.13) | (0.08) | (2.96) | (0.08) | 0.61 |
Deferred Tax | (59.48) | (80.82) | (49.31) | (140.30) | (129.53) | (206.48) |
Total Tax Expense ( net of reversals) | (61.31) | (81.95) | (49.39) | (143.26) | (129.61) | (205.87) |
Net Profit after Tax (A) | 169.39 | 232.31 | 155.13 | 401.70 | 309.62 | 523.54 |
Other Comprehensive Income | ||||||
i) Items that will not be reclassified to profit or loss | ||||||
Remeasurement of defined benefit plans | 2.81 | (14.43) | (5.47) | (11.62) | (16.06) | (28.18) |
Changes in fair valuation of equity instruments | 1.07 | 1.60 | (3.69) | 2.67 | (0.21) | 9.84 |
3.88 | (12.83) | (9.16) | (8.95) | (16.27) | (18.34) | |
Tax impact of above items | (0.69) | 3.63 | (0.31) | 2.94 | 3.39 | 7.47 |
3.19 | (9.20) | (9.47) | (6.01) | (12.88) | (10.87) | |
ii) Items that will be reclassified to profit or loss | ||||||
Gains/(loss) on effective portion of cash flow hedges | 2.67 | (0.84) | (2.78) | 1.83 | (2.66) | (6.53) |
Tax impact of above item | (0.67) | 0.21 | 0.92 | (0.46) | 0.88 | 2.13 |
2.00 | (0.63) | (1.86) | 1.37 | (1.78) | (4.40) | |
Other Comprehensive Income (Net of tax) (B) | 5.19 | (9.83) | (11.33) | (4.64) | (14.66) | (15.27) |
Total Comprehensive Income (A+B) | 174.58 | 222.48 | 143.80 | 397.06 | 294.96 | 508.27 |
Paid-up equity share capital (Face value of Re. 1 each) | 92.16 | 92.16 | 92.16 | 92.16 | 92.16 | 92.16 |
Reserves excluding Revaluation Reserves | 10735.99 | |||||
Earnings per share (Basic & Diluted) (not annualised for the quarter and year to date end) - Rs. | 1.84 | 2.52 | 1.68 | 4.36 | 3.36 | 5.68 |
*Restated (Refer Note 6)
Notes:
1. For the quarter, Revenue from operations at Rs 1736 crores increased by 22% over corresponding quarter of the previous year driven by growth in volume and value realisation in both branded beverages and food business. Profit before exceptional items at Rs 250 crores is higher by 21% as compared to corresponding quarter of previous year mainly on account of growth in revenue and control over expenditures partly offset by higher commodity costs. Profit after tax is also higher than corresponding quarter of previous year.
2. The Company's sales remain unaffected by the current COVID environment. However, there can be future business uncertainties depending on developments in relation to the pandemic which would include supply constraints and commodity cost volatility.
3. Exceptional item for the current quarter represent costs relating to the business integration of foods business of Rs 10 crores and redundancy costs of Rs 9 crores. Exceptional costs for the corresponding quarter of previous year represents costs relating to scheme of merger
4. The Indian Parliament has approved the Code on Social Security, 2020. Pending notification of the effective date and the relevant rules, the financial impact has not been quantified.
5. In accordance with Ind AS 108 "Operating Segments", segment information has been given in the consolidated financial results, and therefore, no separate disclosure on segment information is given in these standalone financial results.
6. Figures of the quarter and year to date ended Sep 30, 2019 as reported has been restated consequent to the demerger and transfer of Consumer Product Business (foods business) of Tata Chemicals Limited with the Company as the 'Appointed date' of the Scheme was April 1, 2019.
7. Statement of Assets and Liabilities as at September 30, 2020 along with Cash flow statement for the period ended September 30, 2020 is annexed.
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 November 5, 2020 and subsequently taken on record by the Board of Directors at its meeting held on November 6, 2020. The Statutory Auditors of the Company have conducted limited review on these results.
Mumbai: November 6, 2020 |
Sunil D'Souza Managing Director and CEO |
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Statement of Assets and Liabilities as at September 30, 2020
Rs. In Crores
September 30 2020 | March 31 2020 | |
Unaudited | Audited | |
ASSETS | ||
Non-Current Assets | ||
Property, Plant and Equipment | 225.28 | 225.32 |
Capital work-in-progress | 18.63 | 22.16 |
Right of Use Assets | 123.72 | 124.88 |
Goodwill | 3578.51 | 3578.51 |
Other Intangible Assets | 2516.05 | 2523.83 |
Intangible Assets under development | 6.77 | 5.99 |
Financial Assets | ||
Investments | 2442.44 | 2324.91 |
Loans | 22.83 | 22.35 |
Other Financial Assets | 27.68 | 24.68 |
Non-Current Tax Assets (Net) | 120.55 | 123.06 |
Other Non-Current Assets | 94.04 | 87.64 |
9176.50 | 9063.33 | |
Current assets | ||
Inventories | 1,682.05 | 919.95 |
Financial Assets | ||
Investments | 193.75 | 724.51 |
Trade Receivables | 291.47 | 314.17 |
Cash and Cash Equivalents | 362.00 | 243.24 |
Other Bank Balances | 860.44 | 494.53 |
Loans | 2.69 | 0.66 |
Other Financial Assets | 40.24 | 75.20 |
Other Current Assets | 264.98 | 214.84 |
3697.62 | 2987.10 | |
TOTAL ASSETS | 12874.12 | 12050.43 |
EQUITY AND LIABILITIES | ||
Equity | ||
Equity Share Capital | 92.16 | 92.16 |
Other Equity | 10906.09 | 10757.85 |
TOTAL EQUITY | 10998.25 | 10850.01 |
Non-Current Liabilities | ||
Financial Liabilities | ||
Lease Liability | 120.37 | 121.82 |
Provisions | 154.14 | 137.52 |
Deferred Tax Liabilities | 287.04 | 149.22 |
561.55 | 408.56 | |
Current Liabilities | ||
Financial Liabilities | ||
Borrowings | 39.50 | 35.00 |
Lease Liability | 25.60 | 23.69 |
Trade Payables | ||
Total outstanding dues of Micro enterprises and Small enterprises | 5.89 | 4.31 |
Total outstanding dues of creditors otherthan Micro enterprises and Small enterprises | 969.58 | 442.73 |
Other Financial Liabilities | 98.81 | 120.11 |
Other Current Liabilities | 85.61 | 75.91 |
Provisions | 73.18 | 73.96 |
Current Tax Liabilities (Net) | 16.15 | 16.15 |
1314.32 | 791.86 | |
TOTAL EQUITY AND LIABILITIES | 12874.12 | 12050.43 |
Tata Consumer Products Limited
(Formerly Tata Global Beverages Limited)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tataconsumer.com, Website : www.tataconsumer.com
Unaudited Standalone Statement of Cash Flows for the six months ended September 30, 2020
Rs. In Crores
Particulars | September2020 | September2019 | |
A. | Cash Flow from Operating Activities | ||
Net Profit before Tax | 544.96 | 439.23 | |
Adjusted for : | |||
Depreciation and Amortisation | 60.43 | 52.42 | |
Finance Cost | 12.99 | 11.78 | |
Dividend Income | (38.14) | (32.89) | |
Profit on sale of current investments (net) | (8.16) | (17.26) | |
Fair value movement in Financial instruments at fair value through profit and loss | (4.35) | (0.41) | |
Interest Income | (28.56) | (23.22) | |
Unrealised Foreign Exchange (Gain) / Loss | 0.54 | (0.02) | |
Impairment loss recognised in trade receivables | 15.80 | 3.71 | |
(Profit) / Loss on sale of Property, Plant & Equipment (net) | 0.23 | 0.01 | |
Other Exceptional Expense / (Income) (net) | 40.30 | 9.56 | |
Operating Profit before working capital changes | 596.04 | 442.91 | |
Adjustments for: | |||
Trade Receivables & Other Assets | (4.52) | (354.45) | |
Inventories | (762.01) | 22.38 | |
Trade payables & Other Liabilities | 473.79 | 34.63 | |
Cash generated from Operations | 303.30 | 145.47 | |
Direct Taxes paid (net) | (0.45) | (35.45) | |
Net Cash from/(used in) Operating Activities | 302.85 | 110.02 | |
B. | Cash Flow from Investing Activities | ||
Payment for Property, Plant and Equipment and Intangibles | (41.45) | (9.83) | |
Sale of Property, Plant and Equipment | 0.03 | 0.01 | |
Acquisition of Business | - | (101.01) | |
Acquisition of a Subsidiary | (13.00) | - | |
Investment in Joint Ventures | (97.50) | (53.00) | |
(Purchase) / Sale of Current Investments (net) | 538.92 | 300.98 | |
(Placement) / Redemption Fixed deposits (net) | (366.77) | (288.00) | |
Inter Corporate Deposits and Loans (net) | (3.00) | 1.75 | |
Dividend Income received | 38.14 | 32.89 | |
Interest Income received | 26.70 | 12.80 | |
Net cash from / (used in) Investing Activities | 82.07 | (103.41) | |
C. | Cash Flow from Financing Activities | ||
Availment / (Repayment) of short term borrowings (net) | 4.50 | 35.88 | |
Payment of Lease Liabilities | (13.41) | (12.56) | |
Finance Cost paid | (8.43) | (7.42) | |
Dividend & Dividend Tax paid | (248.82) | (186.90) | |
Net Cash from / (used in) Financing Activities | (266.16) | (171.00) | |
Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) | 118.76 | (164.39) | |
Opening balance of Cash & Cash equivalent | 243.24 | 404.43 | |
Closing Cash & Cash Equivalent | 362.00 | 240.04 |