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Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Audited Financial Results

for three months ended September 30, 2014

 Rs. In Lakhs

Notes:

1. For the quarter, Income from operations at Rs 712 crores increased by 9% overcorresponding quarter of previous year driven by higher volume and value realisations in the branded tea operations. Profit from Operations at Rs 54 crores is 36% ahead of thecorresponding quarter of the previous year on account of improvement in branded tea operations. Profit after tax at Rs 131 crores is lower compared to the corresponding quarter of previous year due to impact of exceptional items in corresponding quarter of previousyear partly offset by higher other income in current quarter. Effective tax rate for the quarter is lower due to lower rate of tax on overseas dividend income.

2. Exceptional tem during the quarter of Rs. 0.35 crore represents expenditure on restructuringactivities. Exceptional items for the corresponding quarter of previous year represent profit from sale of property in Bangalore Rs 192 crores net of expenditure on new productdevelopment Rs 3 crores, expenditure on revision of post retirement pension obligations of Rs 11 crores and provision against long term Investment Rs 20 crores pertaining to an overseas Joint Venture company engaged in non-branded business.

3. Earnings Per Share (EPS) (basic and diluted) and EPS, net of exceptional items (basic and diluted) for the three months and the year to date ended are given below:

* not annualised for the quarter end

EPS, excluding the impact of exceptional items, for the current quarter is higher as comparedto the corresponding quarter of previous year due to improved results from operation andhigher other income.

4. During the quarter, the Company has adopted estimated useful life of fixed assets asstipulated by Schedule II to the Companies Act 2013, applicable for accounting periods commencing 1st April 2014 or re-assessed useful life based on technical evaluation.Accordingly, depreciation of Rs 0.66 crore (net of deferred tax of Rs 0.34 crore) on account of assets whose useful life is already exhausted as on 1st April 2014 has been adjusted against Retained earnings. Depreciation expense for the quarter is higher by an amount ofRs 0.08 crore consequent to the revision in useful life effective 1st April 2014.

5. The Board of Directors of the Company in its meeting held on November 12, 2013 hadapproved the scheme of merger of its subsidiary, Mount Everest Mineral Water Limited (MEMWL), with the Company in terms of a scheme of amalgamation under Section 391-394and other applicable provisions of the Companies Act, 1956. The necessary approvals from the Stock exchanges and SEBI have been obtained. Further, the scheme was approved by the shareholders at the court convened meeting held on June 4, 2014 and also by non-promotershareholders through postal ballot. 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 thereunder. Accordingly, the operating results of MEMWL would be reflected by the Company from the appointed date of April 1, 2013 after the schemebecomes 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 AccountingStandard (AS-17) on "Segment Reporting" notified by the Companies (Accounting Standard) Rules 2006, are not applicable.

7. Investor complaints :

8. Statement of Assets and Liabilities as at September 30, 2014 is annexed.

9. Previous periods' figures have been regrouped / rearranged, to the extent necessary, toconform to current period's classification.

10. The aforementioned results were reviewed by the Audit Committee of the Board onNovember 5, 2014 and subsequently taken on record by the Board of Directors at its Meeting held on November 5, 2014. The statutory auditors of the company have auditedthese results.

Cyrus P Mistry

Mumbai, November 5, 2014 (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Audited Statement of Assets and Liabilities as at September 30, 2014

Rs. In Lakhs

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Unaudited Consolidated Financial Results for the three months ended September 30, 2014

 Rs. In Lakhs

Notes:

1. For the quarter, Income from operations at Rs 2022 crores increased by 5% as compared to the corresponding quarter of the previous year. Profit from operations at Rs 152 crores is 20% higher than the corresponding quarter of the previous year with improvements in both tea and coffee segments. The increase in Profit from Operations is attributable to improved performance in the branded business and notwithstanding the impact of lower crop available for sale in the plantationbusiness and spends in new ventures. Post the impact of exceptional items and tax, the Group Consolidated Net Profit is Rs 62 crores. Tax charge is high mainly due to tax on higher quantum of dividend received from overseas subsidiaries a substantial part of which can be offset against dividend distribution tax which is not a charge against profits but a subsequent appropriation.

2. The financial results includes following under Exceptional items:

3. Earnings per Share (EPS) (basic and diluted) and EPS, net of impact of exceptional items (basic and diluted) for the three months and the year to date ended are given below:

*not annualised for the three months ended and year to date ended

EPS, excluding the impact of exceptional items, for the quarter is higher by 2% as compared to the corresponding quarter of the previous year due to improved operating performance partlyoffset by higher tax impact.

4. During the quarter, the group has, with effect from 1st April 2014, reassessed the estimated useful life of fixed assets as stipulated by Schedule II of Companies Act 2013 or as appropriate based on technical evaluation. The consequential impact (after considering the transitionprovision specified in Part C of Schedule II to Companies Act 2013) on the depreciation charged and on the results for the quarter is not material.

5. Actuarial loss (net of tax and minority interest) of Rs 37.94 crores for the quarter, relating to defined benefit pension scheme of overseas subsidiaries have been accounted in Reserves in theConsolidated 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 recognising the actuarial gains and losses of pension scheme of the overseas subsidiaries in the Statement of Profit andLoss been followed, the Consolidated Net profit for the Group would have been lower by Rs 37.94 crores and Rs 37.25 crores for the quarter and year to date respectively.

The Statutory Auditors have invited attention to this in their Limited Review 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. Further, the scheme was approved by theshareholders at the court convened meeting held on June 4, 2014 and also by non-promoter shareholders through postal ballot. The appointed date of the scheme is April 1, 2013. Thescheme would be effective on the receipt of necessary approvals and completion of formalities as laid down there under. Accordingly, the operating results of MEMW would be reflected by the Holding Company from the appointed date of April 1, 2013 after the scheme becomes effectivepost 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 previous year, Tata Coffee Limited (TCL), Indian subsidiary of the Holding Company, had filed for merger of its wholly owned subsidiary Alliance Coffee Limited (ACL) with theHonorable 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 becomeseffective, 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 theCompany'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:

*not annualised for the three months ended and year to date ended

Profit for the quarter ended September 30, 2013 was higher mainly due to the impact of exceptional items.

9. Statement of Asset and Liabilities as at September 30, 2014 is annexed.

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

11. The aforementioned results were reviewed by the Audit Committee of the Board on November 5, 2014 and subsequently taken on record by the Board of Directors at its Meeting held onNovember 5, 2014. The Statutory Auditors of the company have conducted limited review of these results.

Cyrus P Mistry

Mumbai, November 5, 2014 (Chairman)

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Unaudited Consolidated Statement of Assets and Liabilities as at September 30, 2014

Rs. In Lakhs

Tata Global Beverages Limited

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

CIN - L15491WB1962PLC031425

Unaudited Consolidated Segment wise Revenue, Results and Capital Employed,

under Clause 41, of the Listing Agreement for the three months ended September 30, 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, manufacture of coffee and related plantation crops and sale 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 includes expenses incurred on common services at the corporate level 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 period classifications.

Cyrus P Mistry

Mumbai, November 5, 2014 (Chairman)

Rs. In Crores

* Not annualised for the three months ended and year to date ended