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Tata Global Beverages Limited

(Formerely Tata Tea Limited)

Registered Office: 1 Bishop Lefroy Road, Kolkata - 700020

Audited Financial Results

For three months ended Sep 30, 2011

Rs. in Lakhs

Notes:

1. Total Operating Income for the quarter at Rs 511.13 crores grew by 14% over the corresponding quarter of previous year driven primarily by improved performance in the Branded Tea operations.

2. Profit from Operations for the quarter at Rs 47.95 crores increased by 39% from the corresponding quarter of the pr evious year attributable to improvement in operations. The Profit before Tax at Rs 70.30 crores and the Profit after Tax at Rs 50.46 crores are also substantially higher compared to the corresponding quarter of the previous year driven by improvement in operations, lower interest char g e, and favorable impact of exceptional items partly offset by lower investment income..

3. Exceptional items during the quarter represent costs on long term initiatives Rs. 2.73 crores, and estimated loss on discard of assets Rs. 0.71 crores.

4. Current tax for the half year is after considering MAT credit entitlement of Rs 10.09 crores.

5. Earnings per share (EPS) (basic and diluted) for the quarter of Rs. 0.82 is higher than Rs 0.49 reported for the corr esponding quarter of the previous year mainly due to improved operating performance and the impact of exceptional items. Net of the impact of exceptional items, EPS (basic and diluted) f or the current quarter is Rs. 0.85 as compared to Rs 0. 71 f or the corresponding quarter of the previous year.

6. The financial Results for the half year ended September 30, 2011 includes under Exceptional items Prof it arising out of sale of non -c ore investments aggregating to Rs. 137.21 cr ores net of provision for future payment under contractual obligation of Rs 1 7. 67 crores, estimated loss on discard of assets Rs 4.94 crores, provision for settlement of clai ms Rs 5.71 crores and costs on long term initiatives Rs 3.09 crores.

7. 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 (A S- 17) on "Segment Reporting" notified b y the C ompanies (Accounting Standard) Rules 2006, are not applicable.

8. The Company had no investor complaints pending resolution as on July 01, 2011. Ten investors' complaints were received during the three months ended September 3 0, 201 1 and three were resolved during the period. There were s even i investor complaints pending resoluti on as on September 30, 2011.

9. Statement of Assets and Liabilities as at September 30, 2011 along with comparatives is annexed.

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

11. The aforementioned results were reviewed by the Audit Committee of the Board on October 27, 2011 and subsequently taken on record b y the Board of Directors at its meeting held on October 28, 2011. The statutory auditor s of the company have audited these results.

Mumbai, October 28, 2011 R K Krishna Kumar

(Vice Chairman)

Rs. in Lakhs

Unaudited Consolidated Financial Results

For three months ended Sep 30, 2011

Rs. in Lakhs

Notes:

1 Total operating income for the quarter at Rs 1630 crores increased b y 12% as compared to the corresponding period of the previous year, reflecting improved performance in most major markets also aided by the impact of price increases in some markets.

2 Whilst commodity costs continue to remain fir m, pr of it after interest but before exceptional items f or the quarter at Rs 129 crores improved by 16% a s compared to the corresponding period of the previous year mainl y due t o improved operating performance in branded tea, coffee plantation and extraction business and lower interest costs. Resultantly, profit before tax at Rs 118 crores is higher b y 51% as compared to a corresponding period of the previous year aided by reduction in exceptional expenditure.

3 Exceptional items f or t he quarter represent s redundancy costs incurred in relation to business restructure Rs 4 cr ores, l ong term initiatives of Rs 4 crores and other expenses rel at ing to business restructure of Rs 2 crores. In the corresponding period of the previous year exceptional items consisted of translation loss on foreign currency hedges in overseas subsidiar ies of Rs 4 crores, employee separation scheme in India of Rs 20 crores, redundancy cost s in relation to business r estructure of Rs 4 crores and expenses relating to restructuring of business of Rs 4 crores.

4 Earnings per share (EP S) (basic and diluted) f or t he quarter of Rs. 1.24 is higher than Rs 0.83 reported f or the correspo nding period of the previous year mainly due to improved operating performance and impact of exceptional items. Net of t he impact of except ional items, EP S (basic and diluted) f or the quarter at Rs. 1.34 i s higher than Rs 1.15 as compared corresponding period of the previous year mainly due to improved operating performance and lower interest expense.

5 The major part of the Company' s business arise s from operations outside India and through its subsidiaries. In view of this t he Company ha s opted to publish only consolidated results f or t he period a s permitted under SE BI guidelines. The st andalone results shall be avail able on t he Company' s website a s well as on the website of t he stock exchanges where the Company's share s are list ed. The Tot al Operating Income, Net Prof it after Tax an d Earnings per share of the Holding Company's stand al one financial result s are given below:

6 The financial Results f or t he half year ended September 30, 2011 includes under Exceptional items Prof it arising out of sale of non-core investments aggregating t o Rs. 137 crores net of estimated loss on discard d of asset s Rs 4 crores, long term initiatives of Rs 4 crores, provision f or future payment under contractual obligation of Rs 20 crores, redundancy co st s incurred in relation to business re structure Rs 18 crore s, provision f or settlement of claims Rs 6 crores and other business re structure/reorganization costs of Rs 7 crores

7 Consolidated statement of Asset and Li abilities as at September 30, 2011 along with comparatives is annexed.

8 Figures f or the corresponding period of t he previous year have been regrouped / rearranged, to the extent necessary, to conform t o current period figures.

9 The aforementioned results were reviewed by the Audit Committee of t he Board on October 27, 2011 and subsequent ly taken on record by the Board of Directors at its Meeting held on October 28, 2011 The statutory auditor s of the company have conducted a limited review of these results.

Mumbai, October 28, 2011 R K Krishna Kumar

(Vice Chairman)

Rs. in Lakhs

Unaudited Consolidated Segment wise Revenue, Results and Capital Employed, under Clause 41, of the Listing Agreement for the three months ended September 30, 2011