5 Nov 2018 14:15
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com, Website : www.tataglobalbeverages.com
Unaudited Standalone Financial Results for the quarter and six months ended September 30, 2018
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 |
| 2018 | 2018 | 2017 | 2018 | 2017 | 2018 |
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited |
Revenue from Operations | 847.28 | 908.60 | 794.80 | 1755.88 | 1654.24 | 3217.32 |
Other Income | 74.15 | 59.90 | 52.17 | 134.05 | 97.19 | 147.58 |
Total Income | 921.43 | 968.50 | 846.97 | 1889.93 | 1751.43 | 3364.90 |
Cost of materials consumed | 535.67 | 456.77 | 452.38 | 992.44 | 907.40 | 1871.55 |
Purchase of stock-in-trade | 4.68 | 5.91 | 7.62 | 10.59 | 16.32 | 33.00 |
Changes in inventories of finished goods, work-in-progress & stock-in-trade | (19.96) | 78.56 | 20.55 | 58.60 | 68.28 | (1.67) |
Employees benefits expense | 56.14 | 55.05 | 50.48 | 111.19 | 101.48 | 208.13 |
Finance costs | 2.69 | 3.69 | 3.50 | 6.38 | 6.62 | 13.65 |
Depreciation and amortisation expense | 7.72 | 7.32 | 6.61 | 15.04 | 12.89 | 27.20 |
Advertisement and sales charges | 67.73 | 41.35 | 54.18 | 109.08 | 102.11 | 216.12 |
Other expenses | 104.74 | 104.01 | 87.09 | 208.75 | 175.94 | 388.81 |
Total Expenses | 759.41 | 752.66 | 682.41 | 1512.07 | 1391.04 | 2756.79 |
Profit before Exceptional Items and Tax | 162.02 | 215.84 | 164.56 | 377.86 | 360.39 | 608.11 |
Exceptional Items (Net) | - | - | - | - | 18.77 | 115.36 |
Profit before Tax | 162.02 | 215.84 | 164.56 | 377.86 | 379.16 | 723.47 |
Tax Expense | (41.72) | (68.13) | (44.31) | (109.85) | (106.43) | (189.15) |
Net Profit after Tax (A) | 120.30 | 147.71 | 120.25 | 268.01 | 272.73 | 534.32 |
Other Comprehensive Income |
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|
|
i) Items that will not be reclassified to profit or loss (net of tax) |
|
|
|
|
|
|
Remeasurement of defined benefit plans | (0.52) | 5.31 | (0.90) | 4.79 | (0.90) | 12.58 |
Changes in fair valuation of equity instruments | (2.02) | 2.73 | 42.51 | 0.71 | 51.43 | 53.31 |
| (2.54) | 8.04 | 41.61 | 5.50 | 50.53 | 65.89 |
ii) Items that will be reclassified to profit or loss (net of tax) |
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|
|
|
|
Gains/(loss) on effective portion of cash flow hedges | (1.94) | (1.58) | (1.07) | (3.52) | (1.61) | (1.76) |
Other Comprehensive Income (Net of tax) (B) | (4.48) | 6.46 | 40.54 | 1.98 | 48.92 | 64.13 |
Total Comprehensive Income (A+B) | 115.82 | 154.17 | 160.79 | 269.99 | 321.65 | 598.45 |
Paid-up equity share capital (Face value of Re. 1 each) | 63.11 | 63.11 | 63.11 | 63.11 | 63.11 | 63.11 |
Reserves excluding Revaluation Reserves |
|
|
|
|
| 4128.38 |
Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs. | 1.90 | 2.35 | 1.90 | 4.25 | 4.32 | 8.47 |
Notes:
1. For the quarter, Revenue from operations at Rs 847 crores increased by 7% over corresponding quarter of the previous year. Profit before exceptional items at Rs 162 crores for the quarter is marginally lower as compared to corresponding quarter of previous year, on account of higher commodity costs and higher spends on advertisement and sales charges partly offset by increase in other income attributable to reversal of provisions. Tax charge for the current quarter is net of reversal of earlier years of Rs 10 crores.
2. 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.
3. Effective April 1, 2018, the Company has adopted Ind AS 115 using the cumulative effect method and the comparative information is not restated. The adoption of the standard did not have any material impact on the results of the Company.
4. Statement of Assets and Liabilities as at September 30, 2018 is annexed.
5. Previous period's figures have been regrouped / rearranged, to the extent necessary, to confirm to current period's classifications.
6. The aforementioned results were reviewed by the Audit Committee of the Board on October 30, 2018 and subsequently taken on record by the Board of Directors at its meeting held on October 30, 2018. The Statutory Auditors of the Company have conducted limited review on these results.
In terms of our report attached
For DELOITTE HASKINS & SELLS LLP Chartered Accountants Firm's Registration No. 117366W/W-100018
Sanjiv V. Pilgaonkar Partner Membership No. 039826 Mumbai: October 30, 2018 |
Ajoy Misra Managing Director and CEO |
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com, Website : www.tataglobalbeverages.com
Unaudited Statement of Assets and Liabilities as at September 30, 2018
Rs. In Crores
| As at September 30 2018 | As at March 31 2018 |
ASSETS |
|
|
Non-Current Assets |
|
|
Property, Plant and Equipment | 218.82 | 207.59 |
Capital work-in-progress | 4.64 | 11.49 |
Investment Property | 0.66 | 0.67 |
Intangible Assets | 16.65 | 19.21 |
Intangible Assets under development | 1.81 | 1.16 |
Financial Assets |
|
|
Investments | 2303.68 | 2284.28 |
Loans | 18.69 | 20.44 |
Other Financial Assets | 22.58 | 22.05 |
Deferred Tax Assets (Net) | 55.96 | 99.01 |
Non-Current Tax Assets (Net) | 45.31 | 42.90 |
Other Non-Current Assets | 81.97 | 82.94 |
| 2770.77 | 2791.74 |
Current assets |
|
|
Inventories | 898.62 | 744.40 |
Financial Assets |
|
|
Investments | 270.30 | 536.98 |
Trade Receivables | 301.16 | 136.66 |
Cash and Cash Equivalents | 409.28 | 232.80 |
Other Bank Balances | 83.52 | 302.47 |
Loans | 59.09 | 8.10 |
Other Financial Assets | 51.87 | 34.09 |
Other Current Assets | 154.73 | 104.93 |
| 2228.57 | 2100.43 |
TOTAL ASSETS | 4999.34 | 4892.17 |
EQUITY AND LIABILITIES |
|
|
Equity |
|
|
Equity share capital | 63.11 | 63.11 |
Other Equity | 4237.78 | 4150.24 |
TOTAL EQUITY | 4300.89 | 4213.35 |
Non-Current Liabilities |
|
|
Provisions | 111.84 | 109.65 |
| 111.84 | 109.65 |
Current Liabilities |
|
|
Financial Liabilities |
|
|
Borrowings | 35.00 | 84.25 |
Trade Payables |
|
|
Due to Micro and Small Enterprises | 1.98 | 4.17 |
Due to Others | 331.93 | 244.29 |
Other Financial Liabilities | 85.93 | 91.33 |
Other Current Liabilities | 63.35 | 71.88 |
Provisions | 20.35 | 47.30 |
Current Tax Liabilities (Net) | 48.07 | 25.95 |
| 586.61 | 569.17 |
TOTAL EQUITY AND LIABILITIES | 4999.34 | 4892.17 |
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com, Website : www.tataglobalbeverages.com
Unaudited Consolidated Financial Results for the quarter and six months ended September 30, 2018
Rs. In Crores
Particulars | Three months ended | Year to Date ended | Year Ended | |||
September 30, 2018 | June 30, 2018 | September 30, 2017 | September 30, 2018 | September 30, 2017 | March 31, 2018 | |
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
Revenue from Operations | 1760.87 | 1802.59 | 1692.14 | 3563.46 | 3396.56 | 6815.35 |
Other Income | 70.79 | 28.52 | 33.54 | 99.31 | 47.88 | 94.15 |
Total Income | 1831.66 | 1831.11 | 1725.68 | 3662.77 | 3444.44 | 6909.50 |
Cost of Materials Consumed | 842.00 | 777.36 | 777.08 | 1619.36 | 1568.74 | 3203.22 |
Purchase of stock in trade | 174.86 | 214.69 | 105.93 | 389.55 | 233.91 | 542.89 |
Changes in inventories of finished goods, work in progress and stock in trade | (18.85) | (11.69) | 39.50 | (30.54) | 29.37 | (46.80) |
Employee Benefits Expense | 194.95 | 203.20 | 200.74 | 398.15 | 403.96 | 821.37 |
Finance Costs | 11.47 | 12.57 | 9.62 | 24.04 | 20.68 | 42.76 |
Depreciation and Amortisation Expense | 30.48 | 29.49 | 29.47 | 59.97 | 58.52 | 116.04 |
Advertisement and Sales charges | 144.65 | 118.05 | 128.76 | 262.70 | 246.95 | 508.91 |
Other Expenses | 256.61 | 252.21 | 226.17 | 508.82 | 455.50 | 946.85 |
Total Expenses | 1636.17 | 1595.88 | 1517.27 | 3232.05 | 3017.63 | 6135.24 |
Profit before Exceptional Items and Tax | 195.49 | 235.23 | 208.41 | 430.72 | 426.81 | 774.26 |
Exceptional Items (Net) | (6.72) | (18.18) | (12.18) | (24.90) | (7.07) | (21.13) |
Profit before Tax | 188.77 | 217.05 | 196.23 | 405.82 | 419.74 | 753.13 |
Tax Expense | (63.68) | (83.45) | (72.75) | (147.13) | (153.29) | (185.87) |
Net Profit after Tax | 125.09 | 133.60 | 123.48 | 258.69 | 266.45 | 567.26 |
Share of net profit/(loss) in Associates and Joint Ventures using equity method | 58.87 | (5.46) | 31.01 | 53.41 | 29.85 | (10.76) |
Group Consolidated Net Profit (A) | 183.96 | 128.14 | 154.49 | 312.10 | 296.30 | 556.50 |
Attributable to : |
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|
Owners of the Parent | 169.73 | 116.24 | 143.80 | 285.97 | 268.24 | 495.56 |
Non Controlling Interest | 14.23 | 11.90 | 10.69 | 26.13 | 28.06 | 60.94 |
Other Comprehensive Income |
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i) Items that will not be reclassified to profit or loss (Net of tax) |
|
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|
|
|
Remeasurement of the defined benefit plans | 16.88 | 25.88 | 6.28 | 42.76 | 23.30 | 59.97 |
Changes in fair valuation of equity instruments | (2.11) | 3.06 | 43.10 | 0.95 | 52.08 | 59.40 |
| 14.77 | 28.94 | 49.38 | 43.71 | 75.38 | 119.37 |
ii) Items that will be reclassified to profit or loss (Net of tax) |
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Exchange differences on translation of foreign operations | 267.83 | (0.13) | 163.62 | 267.70 | 274.85 | 407.80 |
Gains/(loss) on Effective portion of cash flow hedges | (15.80) | 2.20 | (4.27) | (13.60) | (15.60) | (21.86) |
| 252.03 | 2.07 | 159.35 | 254.10 | 259.25 | 385.94 |
Total Other Comprehensive Income, net of tax (B) | 266.80 | 31.01 | 208.73 | 297.81 | 334.63 | 505.31 |
Attributable to : |
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|
|
Owners of the Parent | 227.33 | 31.63 | 181.49 | 258.96 | 291.37 | 436.30 |
Non Controlling Interest | 39.47 | (0.62) | 27.24 | 38.85 | 43.26 | 69.01 |
Total Comprehensive Income (A+B) | 450.76 | 159.15 | 363.22 | 609.91 | 630.93 | 1061.81 |
Attributable to : |
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|
|
|
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|
Owners of the Parent | 397.06 | 147.87 | 325.29 | 544.93 | 559.61 | 931.86 |
Non Controlling Interest | 53.70 | 11.28 | 37.93 | 64.98 | 71.32 | 129.95 |
Paid-up equity share capital (Face value of Re 1 each) | 63.11 | 63.11 | 63.11 | 63.11 | 63.11 | 63.11 |
Reserves excluding Revaluation Reserve |
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|
|
|
| 6946.63 |
Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs | 2.69 | 1.84 | 2.28 | 4.53 | 4.25 | 7.85 |
Notes:
1. For the quarter, Revenue from operations increased by 7% after excluding the impact of business exit as compared to the corresponding quarter of the previous year. At constant currency revenue growth is 4%. Profit before exceptional items at Rs 195 Crores is lower as compared to corresponding quarter of the previous year mainly due to higher commodity cost and higher spends behind brands and listings partly offset by higher other income attributable to reversal of provisions and profit on sale of property. The Group net profit for the quarter is higher by 19% mainly on account of lower tax and higher share of profits from Associates and Joint Ventures.
2. Exceptional items for the current quarter represent redundancy costs relating to business restructure. Exceptional items for the corresponding quarter of the previous year represents cost relating to restructuring of operating model in certain markets.
3. Share of profits in Associates and Joint Ventures include a credit of Rs 37 Crores on account of recognition of deferred tax assets. Further, share of profits include results of an Associate, relating to North India plantations which are seasonal in nature. In respect of a subsidiary, the Madras High Court has, during the quarter, passed a judgement, on a stamp duty matter relating to certain tea and coffee estates acquired by the subsidiary in an earlier year, remanding the matter to the jurisdictional officer for due consideration and assessment in accordance with law. The assessment is to commence and the amount of stamp duty payable is indeterminate.
4. 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 Company's standalone financial results are given below:
In Rs Crores | Three months ended | Year to date ended | Year ended | |||
Sep 30, 2018 | Jun 30, 2018 | Sep 30, 2017 | Sep 30, 2018 | Sep 30, 2017 | March 31, 2018 | |
Total Income | 921.43 | 968.50 | 846.97 | 1889.93 | 1751.43 | 3364.90 |
Profit before Tax | 162.02 | 215.84 | 164.56 | 377.86 | 379.16 | 723.47 |
Profit after Tax | 120.30 | 147.71 | 120.25 | 268.01 | 272.73 | 534.32 |
Total Comprehensive Income | 115.82 | 154.17 | 160.79 | 269.99 | 321.65 | 598.45 |
Earnings per share - Rs (not annualised for the quarter and year to date) | 1.90 | 2.35 | 1.90 | 4.25 | 4.32 | 8.47 |
5. Effective April 1, 2018, the Group has adopted Ind AS 115 using the cumulative effect method and the comparative information is not restated. The adoption of the standard did not have any material impact on the results of the Group.
6. The Consolidated Statement of Assets and Liabilities as at September 30, 2018 is annexed.
7. Previous period's figures have been regrouped / rearranged, to the extent necessary, to conform to current period's classifications.
8. The aforementioned results were reviewed by the Audit Committee of the Board on October 30, 2018 and subsequently taken on record by the Board of Directors at its Meeting held on October 30, 2018. The Statutory Auditors of the Company have conducted limited review on these results.
9. The Consolidated and Standalone result for the quarter and six months ended September 30, 2018 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).
In terms of our report attached
For DELOITTE HASKINS & SELLS LLP Chartered Accountants Firm's Registration No. 117366W/W-100018
Sanjiv V. Pilgaonkar Partner Membership No. 039826 Mumbai: October 30, 2018 |
Ajoy Misra Managing Director and CEO |
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 six months ended September 30, 2018
Rs. In Crores
Particulars | Three months ended | Year to Date ended | Year ended | |||
September 30, 2018 | June 30, 2018 | September 30, 2017 | September 30, 2018 | September 30, 2017 | March 31, 2018 | |
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
Segment Revenue |
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Branded Business |
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(a) Tea | 1248.22 | 1314.31 | 1208.42 | 2562.53 | 2454.08 | 4922.79 |
(b) Coffee | 303.47 | 291.66 | 290.00 | 595.13 | 539.85 | 1079.52 |
(c) Others | 6.36 | 10.16 | 8.97 | 16.52 | 17.84 | 35.73 |
Total Branded Business | 1558.05 | 1616.13 | 1507.39 | 3174.18 | 3011.77 | 6038.04 |
Non Branded Business | 209.66 | 192.85 | 197.37 | 402.51 | 406.73 | 815.17 |
Total Segment Revenue | 1767.71 | 1808.98 | 1704.76 | 3576.69 | 3418.50 | 6853.21 |
Less: Inter segment Sales | (6.84) | (6.39) | (12.62) | (13.23) | (21.94) | (37.86) |
Revenue from Operations | 1760.87 | 1802.59 | 1692.14 | 3563.46 | 3396.56 | 6815.35 |
Segment Results |
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Branded Business |
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|
(a) Tea | 165.01 | 210.02 | 166.22 | 375.03 | 349.34 | 689.72 |
(b) Coffee | 38.14 | 43.50 | 51.12 | 81.64 | 91.22 | 197.63 |
(c) Others | (6.51) | (3.75) | (2.31) | (10.26) | (5.48) | (18.24) |
Total Branded Business | 196.64 | 249.77 | 215.03 | 446.41 | 435.08 | 869.11 |
Non Branded Business | 10.06 | 17.70 | 15.26 | 27.76 | 45.99 | 41.71 |
Total Segment Results | 206.70 | 267.47 | 230.29 | 474.17 | 481.07 | 910.82 |
Add/Less |
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|
Finance Cost | (11.47) | (12.57) | (9.62) | (24.04) | (20.68) | (42.76) |
Unallocable items | (6.46) | (37.85) | (24.44) | (44.31) | (40.65) | (114.93) |
Profit Before Tax | 188.77 | 217.05 | 196.23 | 405.82 | 419.74 | 753.13 |
Segment Assets |
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Branded Business |
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|
(a) Tea | 4965.22 | 4339.96 | 4468.09 | 4965.22 | 4468.09 | 4420.96 |
(b) Coffee | 2022.07 | 1909.08 | 1778.84 | 2022.07 | 1778.84 | 1772.84 |
(c) Others | 41.39 | 34.92 | 39.39 | 41.39 | 39.39 | 47.41 |
Total Branded Business | 7028.68 | 6283.96 | 6286.32 | 7028.68 | 6286.32 | 6241.21 |
Non Branded Business | 1426.49 | 1316.07 | 1075.01 | 1426.49 | 1075.01 | 1255.68 |
Total Segment Assets | 8455.17 | 7600.03 | 7361.33 | 8455.17 | 7361.33 | 7496.89 |
Unallocable Corporate Assets | 2890.27 | 3142.56 | 2777.18 | 2890.27 | 2777.18 | 3095.32 |
Total Assets | 11345.44 | 10742.59 | 10138.51 | 11345.44 | 10138.51 | 10592.21 |
Segment Liabilities |
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Branded Business |
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(a) Tea | 811.48 | 783.01 | 826.90 | 811.48 | 826.90 | 794.52 |
(b) Coffee | 216.17 | 177.96 | 165.46 | 216.17 | 165.46 | 163.78 |
(c) Others | 11.05 | 4.78 | 12.26 | 11.05 | 12.26 | 18.18 |
Total Branded Business | 1038.70 | 965.75 | 1004.62 | 1038.70 | 1004.62 | 976.48 |
Non Branded Business | 183.22 | 132.57 | 125.09 | 183.22 | 125.09 | 140.35 |
Total Segment Liabilities | 1221.92 | 1098.32 | 1129.71 | 1221.92 | 1129.71 | 1116.83 |
Unallocable Corporate Liabilities | 1689.02 | 1455.44 | 1401.28 | 1689.02 | 1401.28 | 1434.74 |
Total Liabilities | 2910.94 | 2553.76 | 2530.99 | 2910.94 | 2530.99 | 2551.57 |
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.
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, unallocable other income and exceptional items.
Ajoy Misra
Mumbai: October 30, 2018 (Managing Director and CEO)
Tata Global Beverages Limited
Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020
CIN - L15491WB1962PLC031425, Email : investor.relations@tgbl.com, Website : www.tataglobalbeverages.com
Unaudited Consolidated Statement of Assets and Liabilities as at September 30, 2018
Rs. In Crores
| As at September 30, 2018 | As at March 31, 2018 |
ASSETS |
|
|
Non-Current Assets |
|
|
Property Plant and Equipment | 753.29 | 739.71 |
Capital Work in Progress | 427.78 | 129.52 |
Investment Property | 52.07 | 50.33 |
Goodwill | 3978.99 | 3723.50 |
Other Intangible Assets | 296.18 | 284.64 |
Intangible Assets under Development | 4.60 | 5.64 |
Investments accounted for using Equity method | 334.90 | 262.84 |
Financial Assets |
|
|
Investments | 332.74 | 329.96 |
Loans | 19.28 | 21.02 |
Other Financial Assets | 30.80 | 40.22 |
Deferred Tax Assets (Net) | 89.01 | 131.77 |
Non-current Tax Assets (net) | 56.22 | 56.48 |
Other Non Current Assets | 247.85 | 281.57 |
| 6623.71 | 6057.20 |
Current Assets |
|
|
Inventories | 1689.27 | 1448.31 |
Financial Assets |
|
|
Investments | 330.96 | 568.53 |
Trade Receivables | 815.78 | 648.28 |
Cash and Cash Equivalent | 1020.85 | 933.49 |
Other Bank balances | 85.69 | 304.65 |
Loans | 321.08 | 272.25 |
Other Financial Assets | 151.12 | 107.22 |
Current Tax Assets (net) | 11.25 | 40.64 |
Other Current Assets | 258.94 | 173.78 |
| 4684.94 | 4497.15 |
Assets of disposal group | 36.79 | 37.86 |
TOTAL ASSETS | 11345.44 | 10592.21 |
EQUITY AND LIABILITIES |
|
|
Equity |
|
|
Equity Share Capital | 63.11 | 63.11 |
Other Equity | 7327.35 | 6968.49 |
Equity attributable to the equity holders of the company | 7390.46 | 7031.60 |
Non Controlling Interest | 1044.04 | 1009.04 |
Total Equity | 8434.50 | 8040.64 |
Non-Current Liabilities |
|
|
Financial Liabilities |
|
|
Borrowings | 819.44 | 655.99 |
Other Financial Liabilities | 6.46 | 6.37 |
Provisions | 148.93 | 144.22 |
Deferred Tax Liabilities (Net) | 139.01 | 131.45 |
Non Current Tax Liabilities | 17.95 | 16.97 |
| 1131.79 | 955.00 |
Current Liabilities |
|
|
Financial Liabilities |
|
|
Borrowings | 401.80 | 400.19 |
Trade Payables |
|
|
Due to Micro and Small Enterprises | 2.52 | 4.75 |
Due to Others | 823.27 | 700.98 |
Other Financial Liabilities | 304.95 | 261.75 |
Other Current Liabilities | 77.05 | 88.98 |
Provisions | 102.94 | 98.80 |
Current Tax Liabilities (net) | 54.57 | 30.59 |
| 1767.10 | 1586.04 |
Liabilities of disposal group | 12.05 | 10.53 |
TOTAL EQUITY AND LIABILITIES | 11345.44 | 10592.21 |