RNS Number : 6528O
Tata Consumer Products Limited
10 February 2021
 

 

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 nine months ended December 31, 2020

                 Rs. In Crores

Particulars

Three months ended

Year to date ended

Year ended

December 31,  2020

September 30,
 2020

December 31,  2019 *

December 31,  2020

December 31,  2019 *

March 31,
 2020

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

 Revenue from Operations

3069.56

2781.34

2492.96

8564.81

7232.39

9637.42

 Other Income

19.49

26.22

28.54

78.42

89.66

111.59

 Total Income

3089.05

2807.56

2521.50

8643.23

7322.05

9749.01

 Cost of Materials Consumed

1392.56

1208.11

946.79

3614.52

2733.68

3606.66

 Purchase of stock in trade

528.40

518.98

466.31

1580.70

1312.68

1796.24

 Changes in inventories of finished goods, work in progress and stock in trade

(11.40)

(80.94)

(5.27)

(138.89)

52.38

7.78

 Employee Benefits Expense

241.23

229.73

219.42

700.01

653.23

884.80

 Finance Costs

18.09

17.87

20.12

53.24

59.16

77.86

 Depreciation and Amortisation Expense

64.40

62.57

61.44

188.87

177.67

241.71

 Advertisement and Sales charges

209.71

166.38

201.39

509.85

495.35

676.72

 Other Expenses

347.73

339.50

346.19

1055.06

1001.28

1373.07

 Total Expenses

2790.72

2462.20

2256.39

7563.36

6485.43

8664.84

 Profit before Exceptional Items and Tax

298.33

345.36

265.11

1079.87

836.62

1084.17

Exceptional Items (Net)

(6.13)

             (23.90)

(0.84)

33.28

(10.40)

(274.79)

 Profit before Tax

292.20

321.46

264.27

1113.15

826.22

809.38

 Tax Expense







 Current tax

(20.17)

(25.18)

(23.08)

(72.45)

(60.32)

(89.05)

 Deferred tax

(35.00)

(61.95)

(51.96)

(180.25)

(180.50)

(185.14)

 Total Tax Expense (Net)

(55.17)

(87.13)

(75.04)

(252.70)

(240.82)

(274.19)

 Net Profit after Tax

237.03

234.33

189.23

860.45

585.40

535.19

 Share of net profit/(loss) in Associates and Joint Ventures using equity method

0.35

38.85

(4.62)

(4.34)

(2.81)

(75.08)

 Group Consolidated Net Profit (A)

237.38

273.18

184.61

856.11

582.59

460.11

 Attributable to :







 Owners of the Parent

218.17

257.06

169.35

802.79

536.25

459.76

 Non Controlling Interest

19.21

16.12

15.26

53.32

46.34

0.35

 Other Comprehensive Income







 i) Items that will not be reclassified to profit or loss







 Remeasurement of the defined benefit plans

(67.10)

(7.18)

(69.38)

(136.01)

(52.49)

31.18

 Changes in fair valuation of equity instruments

2.27

1.07

6.63

4.94

6.42

12.50


(64.83)

(6.11)

(62.75)

(131.07)

(46.07)

43.68

 Tax impact on above items

12.66

0.72

12.07

20.52

9.90

(3.31)

  

(52.17)

(5.39)

(50.68)

(110.55)

(36.17)

40.37

 ii) Items that will be reclassified to profit or loss







 Exchange differences on translation of foreign operations

195.54

29.91

264.36

215.23

204.63

225.69

 Gains/(loss) on Effective portion of cash flow hedges

25.42

30.84

51.73

17.99

50.59

13.48

  

220.96

60.75

316.09

233.22

255.22

239.17

 Tax impact on above items

(6.45)

(6.60)

(12.46)

(4.80)

(13.50)

1.94


214.51

54.15

303.63

228.42

241.72

241.11

 Total Other Comprehensive Income (B)

162.34

48.76

252.95

117.87

205.55

281.48

 Attributable to :







 Owners of the Parent

137.91

42.21

204.58

99.27

168.18

233.89

 Non Controlling Interest

24.43

6.55

48.37

18.60

37.37

47.59

 Total Comprehensive Income (A+B)

399.72

321.94

437.56

973.98

788.14

741.59

 Attributable to :







 Owners of the Parent

356.08

299.27

373.93

902.06

704.43

693.65

 Non Controlling Interest

43.64

22.67

63.63

71.92

83.71

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 and year to date) - Rs

2.37

2.79

1.84

8.71

5.82

4.99

 

* Restated (Refer Note 5)

Notes:

 

1.        For the quarter, Revenue from operations increased by 23% (21% in constant currency) as compared to corresponding quarter of the previous year, led by volume and value growth in the branded business. The Group's business segments catering to out of home consumption continue to be adversely impacted, with progressive recovery from the earlier lows. Profit before exceptional items and tax at Rs 298 Crores is higher by 13% as compared to corresponding quarter of the previous year, mainly on account of growth in revenue and good control over expenditure despite record tea cost inflation in India. Lower tax provision in the current quarter is on account of one time credits and profit mix. Group Consolidated Net Profit is higher by 29%.

2.        Exceptional item for the current quarter mainly represent costs relating to the business integration in India of Rs 6 Crores. Exceptional items for the corresponding quarter of the previous year represent costs relating to scheme of merger.

3.        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.

4.       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.

5.       Figures of the quarter and year to date ended December 31, 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.

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

7.       The aforementioned results were reviewed by the Audit Committee of the Board on February 01, 2021 and subsequently taken on record by the Board of Directors at its Meeting held on February 02, 2021. The Statutory Auditors of the Company have conducted limited review on these results.

8.       The Consolidated and Standalone result for the quarter and nine months ended December 31, 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: February 2, 2021

 



 

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 nine months ended December 31, 2020

                 Rs. In Crores

Particulars

  Three months ended

 Year to date ended

 Year ended

As at December 31, 2020

As at September 30, 2020

As at December 31, 2019*

As at December 31, 2020

 As at December 31, 2019*

As at
March 31,
2020

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited













1275.43

1120.00

873.12

3395.89

2622.06

3376.89

630.64

580.31

           531.06

1800.01

1539.30

2063.74

926.16

800.50

851.64

2594.04

2351.63

3226.04

2832.23

2500.81

2255.82

7789.94

6512.99

8666.67

246.47

287.64

238.51

798.53

723.66

974.94

3078.70

2788.45

2494.33

8588.47

7236.65

9641.61

8.39

3.24

8.20

12.70

20.21

26.63

(17.53)

(10.35)

(9.57)

(36.36)

(24.47)

(30.82)

Revenue from Operations

3069.56

2781.34

2492.96

8564.81

7232.39

9637.42













79.31

149.33

127.56

443.94

377.99

465.14

93.36

92.95

66.21

300.87

           209.18

           266.45

122.60

100.72

79.00

348.81

232.25

360.76

295.27

343.00

272.77

1093.62

819.42

1092.35

20.36

18.11

16.16

52.42

54.46

55.65

Total Segment Results

315.63

361.11

288.93

1146.04

873.88

1148.00







16.11

23.97

20.13

69.37

75.41

93.35

(18.09)

(17.87)

(20.12)

(53.24)

(59.16)

(77.86)

Unallocable items

(15.32)

(21.85)

(23.83)

(82.30)

(53.51)

(79.32)

(6.13)

(23.90)

(0.84)

33.28

(10.40)

(274.79)

292.20

321.46

264.27

1113.15

826.22

809.38













2766.70

2478.25

1906.25

2766.70

1906.25

1554.03

6163.14

6188.80

6222.86

6163.14

6222.86

6231.66

5434.89

5304.98

5511.71

5434.89

5511.71

5352.99

14364.73

13972.03

13640.82

14364.73

13640.82

13138.68

1521.20

1515.36

1532.26

1521.20

1532.26

1599.93

15885.93

15487.39

15173.08

15885.93

15173.08

14738.61

3981.94

3916.82

3199.57

3981.94

3199.57

3763.99

 Total Assets

19867.87

19404.21

18372.65

19867.87

18372.65

18502.60













1106.58

1036.99

573.22

1106.58

573.22

538.32

257.62

284.15

           165.58

257.62

           165.58

           240.72

750.50

711.69

744.51

750.50

744.51

759.99

2114.70

2032.83

1483.31

2114.70

1483.31

1539.03

162.65

178.36

155.02

162.65

155.02

186.98

2277.35

2211.19

1638.33

2277.35

1638.33

1726.01

1970.17

1972.15

1776.55

1970.17

1776.55

1869.26

Total Liabilities

4247.52

4183.34

3414.88

4247.52

3414.88

3595.27

* Restated (Refer Note 5)

 

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 and nine months ended December 31, 2020

                 Rs. In Crores

Particulars

 

 

Three months ended

Year to date ended

Year ended

 December 31

September 30

 December 31 *

 December 31

 December 31*

 March 31

2020

2020

2019

2020

2019

2020


Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

Revenue from Operations

1962.73

1736.14

1463.45

5304.30

4354.65

5690.24

Other Income

               25.02

33.57

24.81

104.29

101.05

              117.75

Total Income

1987.75

1769.71

1488.26

5408.59

4455.70

5807.99

Cost of materials consumed

1061.64

863.14

                601.49

2528.69

1777.96

2305.02

Purchase of stock-in-trade

             367.97

353.86

                309.21

1061.98

                836.44

1123.86

Changes in inventories of finished goods, work-in-progress & stock-in-trade

            (57.43)

             (87.74)

               (10.28)

          (139.55)

                  70.78

               44.36

Employees benefits expense

               80.18

77.45

                  69.09

             229.40

                215.78

              283.44

Finance costs

                 7.22

6.46

                   7.16

               20.21

                  18.94

               25.73

Depreciation and amortisation expense

               32.41

30.84

                  29.40

               92.84

                  81.82

              114.82

Advertisement and sales charges

             126.64

90.04

                107.69

             273.17

                276.99

              384.91

Other expenses

             186.62

185.66

                179.36

             574.09

                533.06

              744.63

Total Expenses

1805.25

1519.71

1293.12

4640.83

3811.77

5026.77

Profit before Exceptional Items and Tax

             182.50

250.00

195.14

767.76

                643.93

              781.22

Exceptional Items (Net)

              (6.37)

             (19.30)

                 (0.84)

            (46.67)

               (10.40)

             (51.81)

Profit before Tax

176.13

             230.70

194.30

721.09

633.53

              729.41

Tax Expense







Current Tax

                 5.11

              (1.83)

                 (1.42)

                 2.15

                 (1.50)

                 0.61

Deferred Tax

            (45.12)

             (59.48)

               (49.89)

          (185.42)

             (179.42)

           (206.48)

Total Tax Expense (net of reversals)

            (40.01)

            (61.31)

              (51.31)

          (183.27)

            (180.92)

(205.87)

Net Profit after Tax (A)

           136.12

           169.39

               142.99

             537.82

              452.61

            523.54

Other Comprehensive Income







i) Items that will not be reclassified to profit or loss







Remeasurement of defined benefit plans

              (3.49)

                 2.81

                 (2.56)

            (15.11)

               (18.62)

             (28.18)

Changes in fair valuation of equity instruments

                 2.27

                 1.07

                   5.38

                 4.94

                   5.17

                 9.84


              (1.22)

                 3.88

                   2.82

            (10.17)

               (13.45)

             (18.34)

Tax impact of above items

                 0.86

              (0.69)

                   0.64

                 3.80

                   4.03

                 7.47


              (0.36)

                 3.19

                   3.46

              (6.37)

                 (9.42)

             (10.87)

ii) Items that will be reclassified to profit or loss







Gains/(loss) on effective portion of cash flow hedges

              (0.64)

                2.67

                 (2.20)

                 1.19

                 (4.86)

               (6.53)

Tax impact of above item

                 0.16

              (0.67)

                   0.57

              (0.30)

                   1.45

                 2.13


              (0.48)

                2.00

                 (1.63)

                 0.89

                 (3.41)

               (4.40)

Other Comprehensive Income (Net of tax) (B)

              (0.84)

                5.19

                   1.83

              (5.48)

               (12.83)

             (15.27)

Total Comprehensive Income (A+B)

             135.28

            174.58

                144.82

             532.34

                439.78

              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) - Rs.

                    1.48

                  1.84

                    1.55

                    5.84

                    4.91

                5.68

* Restated (Refer Note 5)

 

 



 

 

 

Notes:

 

1.  For the quarter, Revenue from operations at Rs 1963 crores increased by 34% over corresponding quarter of the previous year driven by growth in volume and value mainly in the branded business. Profit before exceptional items at Rs 183 crores is lower as compared to corresponding quarter of previous year mainly on account of the adverse impact of record tea cost inflation and higher investments behind brands, which has been partly offset by growth in revenue and control over expenditure. Tax provision for the current quarter is net of one time credits. Consequently, Profit after tax is marginally lower than corresponding quarter of previous year.

2.  Exceptional item for the current quarter represent costs relating to the integration of foods business of Rs 6 crores. Exceptional costs for the corresponding quarter of previous year represents costs relating to scheme of merger.

3.  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.

4.  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.

5.  Figures of quarter and year to date ended December 31, 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.

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

7.  The aforementioned results were reviewed by the Audit Committee of the Board on February 1, 2021 and subsequently taken on record by the Board of Directors at its meeting held on February 2, 2021. The Statutory Auditors of the Company have conducted limited review on these results.

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                                        Sunil D'Souza

 

Mumbai:  February 02, 2021                                                                                                                                                     (Managing Director and CEO)

 

 

 

 

 

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