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Half-year Result

Published: 19/11/2020, 09:13

RNS Number : 8631F

Tata Consumer Products Limited

19 November 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 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 at September 30, 2020	As at March 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 other than 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	September 2020	September 2019
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

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