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 ended June 30, 2020

Rs. in Crores

* Restated (Refer Note 6)

Notes:

1.  For the quarter, Revenue from operations is higher by 13% (11% in constant currency) as compared to corresponding quarter of the previous year led by volume and value growth in branded business both in India and International. Profit before exceptional items and tax at Rs 436 Crores is higher by 42% as compared to corresponding quarter of the previous year, mainly on account of higher revenue and lower level of expenditure including commodity costs. Group Consolidated Net Profit is higher as compared to corresponding quarter of the previous year on account of higher exceptional items partly offset by higher shares of losses in Associates & Joint Ventures.

2.  The Company along with its subsidiaries and affiliates continues to manufacture and supply essential food and beverage items in domestic and international markets in the current COVID environment. The demand for the Group's food and beverage products for in home consumption was buoyant, whereas business segments in out of home consumption were adversely impacted, with an overall favourable impact on the revenue from operations. Share of profit/(loss) from Associates/Joint Ventures were impacted due to the adverse impact of COVID on operations of Tata Starbucks. Lock down conditions will have adverse impact on out of home segments, may cause supply constraints and result in commodity cost volatility. Based on the trends observed, there is some tapering off of demand across geographies and significant hardening of commodity costs in India. Impact on future operations would to a large extent depend on how the pandemic develops.

3.  Exceptional item for the current quarter represent gain of Rs 84 Crores on conversion of a Joint Venture into a Subsidiary (Refer Note 4) and costs relating to the business integration of foods business Rs 21 Crores. Exceptional items for the corresponding quarter of the previous year represent costs relating to scheme of merger.

4.  The Parent Company has acquired 50% stake of PepsiCo India Holdings Pvt. Ltd. in NourishCo Beverages Limited, consequently converting the Joint Venture into a wholly owned subsidiary with effect from May 18, 2020.

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 ended June 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.  Figures of the quarter ended March 31, 2020 are the balancing figures between audited figures in respect of the full financial year and year to date figures up to the third quarter of the relevant financial year.

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 August 3, 2020 and subsequently taken on record by the Board of Directors at its Meeting held on August 4, 2020. The Statutory Auditors of the Company have conducted limited review on these results.

10. The Consolidated and Standalone result for the quarter ended June 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).

Mumbai: August 4, 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

Consolidated Segment wise Revenue, Results, Assets and Liabilities for the quarter ended June 30, 2020

Rs. in Crores

* 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 Standalone Financial Results for the quarter ended June 30, 2020

Rs. in Crores

*Restated (Refer Note 6)

Notes:

1.  For the quarter, Revenue from operations at Rs 1605 crores increased by 10% over corresponding quarter of the previous year due to improvements in volume and value realisation in both branded beverages and food business. Profit before exceptional items at Rs 335 crores is higher by 38% as compared to corresponding quarter of previous year due to growth in revenue coupled with lower commodity costs and lower spends on advertisement and sales charges. Profit after tax is also higher than corresponding quarter of previous year.

2.  The Company continues to manufacture and supply essential food and beverage items in the current COVID environment. The demand for the food and beverage products for in home consumption was buoyant, with favourable impact on revenue from the operations. Lock down conditions can cause supply constraints and result in commodity cost volatility. Based on the trends observed, there is some tapering off of demand and significant hardening of commodity costs. Impact on future operations would to a large extent depend on how the pandemic develops.

3.  Exceptional item for the current quarter represent business integration costs of foods business.

4.  During the quarter, the Company has acquired entire 50% stake of PepsiCo India Holdings Pvt. Ltd in NourishCo Beverages Limited (NCBL) consequently converting the Joint- Venture into a wholly-owned subsidiary of the Company with effect from May 18, 2020.

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 ended June 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.  Figures of the quarter ended March 31, 2020 is the balancing figures between audited figures in respect of the full financial year and year to date figures up to the third quarter of the relevant financial year.

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 August 3, 2020 and subsequently taken on record by the Board of Directors at its meeting held on August 4, 2020. The Statutory Auditors of the Company have conducted limited review on these results.