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 Financial Results for the quarter and year ended March 31, 2021
Rs. in Crores
| Particulars | Three months ended | Year ended | |||
| March 31, 2021 | December 31, 2020 | March 31, 2020 | March 31, 2021 | March 31, 2020 | |
| Refer Note 6 | Unaudited | Refer Note 6 | Audited | Audited | |
| Revenue from Operations | 3037.22 | 3069.56 | 2405.03 | 11602.03 | 9637.42 |
| Other Income | 42.96 | 19.49 | 21.93 | 121.38 | 111.59 |
| Total Income | 3080.18 | 3089.05 | 2426.96 | 11723.41 | 9749.01 |
| Cost of Materials Consumed | 1322.93 | 1392.56 | 872.98 | 4937.45 | 3606.66 |
| Purchase of stock in trade | 533.70 | 528.40 | 483.56 | 2114.40 | 1796.24 |
| Changes in inventories of finished goods, work in progress and stock in trade | (10.65) | (11.40) | (44.60) | (149.54) | 7.78 |
| Employee Benefits Expense | 270.22 | 241.23 | 231.57 | 970.23 | 884.80 |
| Finance Costs | 15.45 | 18.09 | 18.70 | 68.69 | 77.86 |
| Depreciation and Amortisation Expense | 65.87 | 64.40 | 64.04 | 254.74 | 241.71 |
| Advertisement and Sales charges | 216.42 | 209.71 | 181.37 | 726.27 | 676.72 |
| Other Expenses | 404.40 | 347.73 | 371.79 | 1459.46 | 1373.07 |
| Total Expenses | 2818.34 | 2790.72 | 2179.41 | 10381.70 | 8664.84 |
| Profit before Exceptional Items and Tax | 261.84 | 298.33 | 247.55 | 1341.71 | 1084.17 |
| Exceptional Items (Net) | (63.93) | (6.13) | (264.39) | (30.65) | (274.79) |
| Profit before Tax | 197.91 | 292.20 | (16.84) | 1311.06 | 809.38 |
| Tax Expense | | | | | |
| Current tax | (25.71) | (20.17) | (28.73) | (98.16) | (89.05) |
| Deferred tax | (38.86) | (35.00) | (4.64) | (219.11) | (185.14) |
| Total Tax Expense (Net) | (64.57) | (55.17) | (33.37) | (317.27) | (274.19) |
| Net Profit after Tax | 133.34 | 237.03 | (50.21) | 993.79 | 535.19 |
| Share of net profit/(loss) in Associates and Joint Ventures using equity method | (58.99) | 0.35 | (72.27) | (63.33) | (75.08) |
| Group Consolidated Net Profit (A) | 74.35 | 237.38 | (122.48) | 930.46 | 460.11 |
| Attributable to : | | | | | |
| Owners of the Parent | 53.90 | 218.17 | (76.49) | 856.69 | 459.76 |
| Non Controlling Interest | 20.45 | 19.21 | (45.99) | 73.77 | 0.35 |
| Other Comprehensive Income | | | | | |
| i) Items that will not be reclassified to profit or loss (Net of Tax) | | | | | |
| Remeasurement of the defined benefit plans | (9.57) | (67.10) | 83.67 | (145.58) | 31.18 |
| Changes in fair valuation of equity instruments | 0.94 | 2.27 | 6.08 | 5.88 | 12.50 |
|
| (8.63) | (64.83) | 89.75 | (139.70) | 43.68 |
| Tax impact on above items | 1.54 | 12.66 | (13.21) | 22.06 | (3.31) |
|
| (7.09) | (52.17) | 76.54 | (117.64) | 40.37 |
| ii) Items that will be reclassified to profit or loss (Net of Tax) | | | | | |
| Exchange differences on translation of foreign operations | 47.45 | 195.54 | 21.06 | 262.68 | 225.69 |
| Gains/(loss) on effective portion of cash flow hedges | (14.43) | 25.42 | (37.11) | 3.56 | 13.48 |
|
| 33.02 | 220.96 | (16.05) | 266.24 | 239.17 |
| Tax impact on above items | 5.62 | (6.45) | 15.44 | 0.82 | 1.94 |
|
| 38.64 | 214.51 | (0.61) | 267.06 | 241.11 |
| Total Other Comprehensive Income, Net of Tax (B) | 31.55 | 162.34 | 75.93 | 149.42 | 281.48 |
| Attributable to : | | | | | |
| Owners of the Parent | 28.22 | 137.91 | 65.71 | 127.49 | 233.89 |
| Non Controlling Interest | 3.33 | 24.43 | 10.22 | 21.93 | 47.59 |
| Total Comprehensive Income (A+B) | 105.90 | 399.72 | (46.55) | 1079.88 | 741.59 |
| Attributable to : | | | | | |
| Owners of the Parent | 82.12 | 356.08 | (10.78) | 984.18 | 693.65 |
| Non Controlling Interest | 23.78 | 43.64 | (35.77) | 95.70 | 47.94 |
| Paid-up equity share capital (Face value of Re 1 each) | 92.16 | 92.16 | 92.16 | 92.16 | 92.16 |
| Reserves excluding Revaluation Reserve | | | | 14420.49 | 13700.84 |
| Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs | 0.58 | 2.37 | (0.83) | 9.30 | 4.99 |
Notes:
1. For the quarter, Revenue from operations increased by 26% (24% in constant currency) as compared to corresponding quarter of the previous year, mainly driven by volume and value growth in the India branded business and improved performance of non-branded business. Profit before exceptional items and tax at Rs 262 Crores is higher by 6% as compared to corresponding quarter of the previous year, mainly on account of growth in revenue and good control over expenditure, however, margins were impacted by tea cost inflation in India. Group Consolidated Net Profit is higher as compared to corresponding quarter of the previous year on account of lower exceptional items and lower share of losses in Associates & Joint Ventures.
2. Exceptional item for the current quarter mainly represent costs relating to the business restructure and reorganisation of Rs 18 Crores and loss on disposal of an overseas subsidiary/Joint Venture of Rs 46 Crores. Exceptional items for the corresponding quarter of the previous year represent impairment of Goodwill of Rs 223 Crores, costs relating to the Merger scheme and Integration cost relating to Foods business of Rs 41 Crores, cost relating to business restructure and reorganisation of Rs 10 Crores and gain on disposal of Czech business Rs 10 Crores.
3. During the quarter and financial year ended March 31, 2021, the Group's performance was not adversely impacted by the Covid pandemic but recorded good top line growth in many markets, except for some businesses, in particular, those in out of home consumption sectors. Commodity costs were adversely impacted in India. There can be future business uncertainties depending on developments in relation to the pandemic, particularly those arising from the second wave in India, which could include market closures, supply constraints and commodity cost volatility.
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. The Consolidated Statement of Assets and Liabilities as at March 31, 2021 and Consolidated Cash Flow Statement for the year ended March 31, 2021 is annexed.
6. Figures of the quarter ended March 31, 2021 and 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.
7. The Board of Directors has recommended a dividend payment of Rs 4.05 per share (Face value Re. 1 each) for the year ended March 31, 2021.
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 May 05, 2021 and subsequently taken on record by the Board of Directors at its Meeting held on May 06, 2021. The Statutory Auditors of the Company have audited the annual results.
10. The Consolidated and Standalone result for the quarter and year ended March 31, 2021 are available on the BSE Limited website (URL: www.bseindia.com), National Stock Exchange of India Limited website (URL: www.nseindia.com) and on the Company's website (URL: www.tataconsumer.com).
Sd/-
Sunil D'Souza
Managing Director and CEO
Mumbai: May 6, 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
Consolidated Segment wise Revenue, Results, Assets and Liabilities for the year ended March 31, 2021
Rs. in Crores
| Particulars | Three months ended | Year ended | |||
| March 31, 2021 | December 31, 2020 | March 31, 2020 | March 31, 2021 | March 31, 2020 | |
| Refer Note 6 | Unaudited | Refer Note 6 | Audited | Audited | |
| Segment Revenue | | | | | |
| Branded Business | | | | | |
| India - Beverages | 1204.84 | 1275.43 | 754.83 | 4600.73 | 3376.89 |
| India - Foods | 641.68 | 630.64 | 524.44 | 2441.69 | 2063.74 |
| International - Beverages | 875.21 | 926.16 | 874.41 | 3469.25 | 3226.04 |
| Total Branded Business | 2721.73 | 2832.23 | 2153.68 | 10511.67 | 8666.67 |
| Non Branded Business | 323.64 | 246.47 | 251.28 | 1122.17 | 974.94 |
| Total Segment Revenue | 3045.37 | 3078.70 | 2404.96 | 11633.84 | 9641.61 |
| Others | 0.75 | 8.39 | 6.42 | 13.45 | 26.63 |
| Less: Inter segment Sales | (8.90) | (17.53) | (6.35) | (45.26) | (30.82) |
| Revenue from Operations | 3037.22 | 3069.56 | 2405.03 | 11602.03 | 9637.42 |
| Segment Results | | | | | |
| Branded Business | | | | | |
| India - Beverages | 52.37 | 79.31 | 87.15 | 496.31 | 465.14 |
| India - Foods | 86.79 | 93.36 | 57.27 | 387.66 | 266.45 |
| International - Beverages | 110.07 | 122.60 | 128.51 | 458.88 | 360.76 |
| Total Branded Business | 249.23 | 295.27 | 272.93 | 1342.85 | 1092.35 |
| Non Branded Business | 38.47 | 20.36 | 1.19 | 90.89 | 55.65 |
| Total Segment Results | 287.70 | 315.63 | 274.12 | 1433.74 | 1148.00 |
| Add/Less | | | | | |
| Other Income | 26.45 | 16.11 | 17.94 | 95.82 | 93.35 |
| Finance Cost | (15.45) | (18.09) | (18.70) | (68.69) | (77.86) |
| Unallocable items | (36.86) | (15.32) | (25.81) | (119.16) | (79.32) |
| Exceptional Items | (63.93) | (6.13) | (264.39) | (30.65) | (274.79) |
| Profit Before Tax | 197.91 | 292.20 | (16.84) | 1311.06 | 809.38 |
| Segment Assets | | | | | |
| Branded Business | | | | | |
| India - Beverages | 2326.34 | 2766.70 | 1554.03 | 2326.34 | 1554.03 |
| India - Foods | 6442.40 | 6163.14 | 6231.66 | 6442.40 | 6231.66 |
| International - Beverages | 5192.15 | 5434.89 | 5352.99 | 5192.15 | 5352.99 |
| Total Branded Business | 13960.89 | 14364.73 | 13138.68 | 13960.89 | 13138.68 |
| Non Branded Business | 1577.24 | 1521.20 | 1599.93 | 1577.24 | 1599.93 |
| Total Segment Assets | 15538.13 | 15885.93 | 14738.61 | 15538.13 | 14738.61 |
| Unallocable Corporate Assets | 4717.74 | 3981.94 | 3763.99 | 4717.74 | 3763.99 |
| Total Assets | 20255.87 | 19867.87 | 18502.60 | 20255.87 | 18502.60 |
| Segment Liabilities | | | | | |
| Branded Business | | | | | |
| India - Beverages | 1317.93 | 1106.58 | 538.32 | 1317.93 | 538.32 |
| India - Foods | 293.77 | 257.62 | 240.72 | 293.77 | 240.72 |
| International - Beverages | 748.17 | 750.50 | 759.99 | 748.17 | 759.99 |
| Total Branded Business | 2359.87 | 2114.70 | 1539.03 | 2359.87 | 1539.03 |
| Non Branded Business | 174.35 | 162.65 | 186.98 | 174.35 | 186.98 |
| Total Segment Liabilities | 2534.22 | 2277.35 | 1726.01 | 2534.22 | 1726.01 |
| Unallocable Corporate Liabilities | 2094.61 | 1970.17 | 1869.26 | 2094.61 | 1869.26 |
| Total Liabilities | 4628.83 | 4247.52 | 3595.27 | 4628.83 | 3595.27 |
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
Audited Consolidated Statement of Assets and Liabilities as at March 31, 2021
Rs in Crores
| | March 31, 2021 | March 31, 2020 |
| ASSETS | | |
| Non-Current Assets | | |
| Property Plant and Equipment | 1222.67 | 1207.50 |
| Capital Work in Progress | 93.17 | 87.56 |
| Investment Property | 33.17 | 50.04 |
| Right of Use Assets | 386.41 | 293.46 |
| Goodwill | 7596.57 | 7333.83 |
| Other Intangible Assets | 2784.31 | 2771.21 |
| Intangible Assets under Development | 19.68 | 7.79 |
| Investments accounted for using Equity method | 207.27 | 228.19 |
| Financial Assets | | |
| Investments | 275.46 | 261.11 |
| Loans | 21.87 | 22.50 |
| Other Financial Assets | 74.92 | 32.17 |
| Deferred Tax Assets (Net) | 38.05 | 29.56 |
| Non-current Tax Assets (net) | 142.30 | 146.06 |
| Other Non Current Assets | 311.39 | 349.56 |
| | 13207.24 | 12820.54 |
| Current Assets | | |
| Inventories | 2249.16 | 1712.03 |
| Financial Assets | | |
| Investments | 323.16 | 833.55 |
| Trade Receivables | 761.32 | 922.41 |
| Cash and Cash Equivalent | 2041.99 | 1121.67 |
| Other Bank balances | 1032.89 | 499.79 |
| Loans | 185.12 | 116.54 |
| Other Financial Assets | 116.35 | 173.24 |
| Current Tax Assets (net) | 1.37 | 1.17 |
| Other Current Assets | 337.27 | 301.66 |
| | 7048.63 | 5682.06 |
| TOTAL ASSETS | 20255.87 | 18502.60 |
| EQUITY AND LIABILITIES | | |
| Equity | | |
| Equity Share Capital | 92.16 | 92.16 |
| Other Equity | 14442.35 | 13722.70 |
| Equity attributable to the equity holders of the company | 14534.51 | 13814.86 |
| Non Controlling Interest | 1092.53 | 1092.47 |
| Total Equity | 15627.04 | 14907.33 |
| Non-Current Liabilities | | |
| Financial Liabilities | | |
| Borrowings | 287.54 | 794.67 |
| Lease Liability | 389.10 | 291.96 |
| Other Financial Liabilities | 80.24 | 13.93 |
| Provisions | 192.46 | 183.22 |
| Deferred Tax Liabilities (Net) | 570.16 | 316.03 |
| Non Current Tax Liabilities | 14.87 | 16.86 |
| | 1534.37 | 1616.67 |
| Current Liabilities | | |
| Financial Liabilities | | |
| Borrowings | 433.06 | 387.81 |
| Lease Liability | 37.81 | 37.97 |
| Trade Payables | 1625.47 | 943.99 |
| Other Financial Liabilities | 736.23 | 382.55 |
| Other Current Liabilities | 136.09 | 100.25 |
| Provisions | 101.71 | 92.41 |
| Current Tax Liabilities (net) | 24.09 | 33.62 |
| | 3094.46 | 1978.60 |
| TOTAL EQUITY AND LIABILITIES | 20255.87 | 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
Audited Consolidated Statement of Cash Flows for the year ended March 31, 2021
Rs. In Crores
| Particulars | March 31, 2021 | March 31, 2020 |
| A. Cash Flow from Operating Activities | | |
| Net Profit before Tax | 1311.06 | 809.38 |
| Adjusted for : | | |
| Depreciation and amortisation | 254.74 | 241.71 |
| Finance Cost | 68.69 | 77.86 |
| Dividend Income | (2.02) | (3.47) |
| Profit on sale of current investments (net) | (13.00) | (25.50) |
| Fair value movement in Financial instruments at fair value through profit and loss | (8.11) | (2.57) |
| Interest Income | (72.70) | (61.81) |
| Unrealised foreign exchange (gain) / loss | 4.13 | (7.18) |
| Impairment loss recognised in trade receivables and advances (net of reversal) | 21.49 | (3.41) |
| (Profit) / Loss on sale of Property, Plant & Equipment including investment property (net) | (11.75) | (4.03) |
| Rental Income from Investment Property | (3.81) | (3.14) |
| Exceptional Items - | | |
| Gain on conversion of a Joint Venture into a Subsidiary | (84.30) | - |
| (Gain) / Loss on Dispoal of a Subsidiary/Joint Venture | 46.45 | (10.38) |
| Impairment of Goodwill | - | 222.94 |
| Loss on disposal of a business | 4.25 | - |
| Other Exceptional Items | 64.25 | 62.23 |
| Operating Profit before working capital changes | 1579.37 | 1292.63 |
| Adjustments for: | | |
| Trade Receivables & Other Assets | 186.14 | (177.30) |
| Inventories | (533.45) | 81.46 |
| Trade payables & Other Liabilities | 530.74 | 13.82 |
| Cash generated from operations | 1762.80 | 1210.61 |
| Direct taxes paid | (106.43) | (128.38) |
| Net Cash from Operating Activities | 1656.37 | 1082.23 |
| B. Cash Flow from Investing Activities | | |
| Payment for Property, Plant and Equipment including Intangibles | (210.68) | (159.58) |
| Sale of Property, Plant and Equipment | 31.50 | 8.82 |
| Rental Income from Investment Property | 3.81 | 3.14 |
| Sale of Non Current Investments carried at Fair value through OCI | 0.02 | 65.27 |
| Acquisition of Business | - | (101.01) |
| Acquisition of Subsidiary | (168.80) | - |
| Investments in Joint Ventures | (112.32) | (53.00) |
| Proceeds from disposal of a Subsidiary/Joint Venture | 56.99 | 30.38 |
| Purchase of Non-Current Investments | - | (0.16) |
| Dividend Income received (including dividend from associates & Joint Ventures) | 5.10 | 5.31 |
| Interest Income received | 67.96 | 51.13 |
| (Purchase) / Sale of Current Investments (net) | 523.39 | (222.00) |
| (Placement) / Redemption Fixed deposits (net) | (532.38) | (433.53) |
| Inter Corporate Loans and Deposits (net) | (73.00) | 132.46 |
| Net cash from /(used in) Investing Activities | (408.41) | (672.77) |
| C. Cash Flow from Financing Activities | | |
| Proceeds from / (Repayment of) Long term borrowings (net) | (69.16) | (18.14) |
| Proceeds from / (Repayment of) short term borrowings (net) | 11.82 | 50.25 |
| Payment of Lease Liabilities | (45.06) | (48.56) |
| Dividend & Dividend Tax paid | (267.29) | (221.62) |
| Finance Cost paid | (65.41) | (70.26) |
| Refund of Dividend Distribution Tax paid in an earlier year | 9.07 | - |
| Net Cash used in Financing Activities | (426.03) | (308.33) |
| Net increase in Cash and Cash Equivalents (A+B+C) | 821.93 | 101.13 |
| Opening balance of Cash & Cash Equivalent | 889.34 | 737.48 |
| Add: Cash and Cash equivalent of the acquired companies | 44.08 | - |
| Less: Cash and Cash equivalent on disposal of a subsidiary | (22.80) | - |
| Exchange Gain/ (Loss) on translation of foreign currency cash/cash equivalents | 40.63 | 50.73 |
| Closing Cash & Cash Equivalent | 1773.18 | 889.34 |
| Reconciliation with Balance Sheet | | |
| Cash and Cash Equivalents | 1773.18 | 889.34 |
| Add : Bank Overdraft | 268.81 | 232.33 |
| Balance at the end of the year | 2041.99 | 1121.67 |
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
Standalone Financial Results for the quarter and year ended March 31, 2021
Rs. in Crores
| Particulars | Three months ended | Year ended | |||
| | March 31, 2021 | December 31, 2020 | March 31, 2020 | March 31, 2021 | March 31, 2020 |
| | Refer Note 5 | Unaudited | Refer Note 5 | Audited | Audited |
| Revenue from Operations | 1850.06 | 1962.73 | 1335.31 | 7154.36 | 5690.24 |
| Other Income | 28.72 | 25.02 | 16.70 | 133.01 | 117.75 |
| Total Income | 1878.78 | 1987.75 | 1352.01 | 7287.37 | 5807.99 |
| Cost of materials consumed | 892.96 | 1061.64 | 527.09 | 3421.65 | 2305.02 |
| Purchase of stock-in-trade | 363.65 | 367.97 | 287.42 | 1425.63 | 1123.86 |
| Changes in inventories of finished goods, work-in-progress & stock-in-trade | 22.65 | (57.43) | (26.40) | (116.90) | 44.36 |
| Employees benefits expense | 92.18 | 80.18 | 67.66 | 321.58 | 283.44 |
| Finance costs | 7.92 | 7.22 | 6.79 | 28.13 | 25.73 |
| Depreciation and amortisation expense | 33.37 | 32.41 | 33.00 | 126.21 | 114.82 |
| Advertisement and sales charges | 123.66 | 126.64 | 107.92 | 396.83 | 384.91 |
| Other expenses | 212.91 | 186.62 | 211.24 | 787.00 | 744.63 |
| Total Expenses | 1749.30 | 1805.25 | 1214.72 | 6390.13 | 5026.77 |
| Profit before Exceptional Items and Tax | 129.48 | 182.50 | 137.29 | 897.24 | 781.22 |
| Exceptional Items (Net) | (14.43) | (6.37) | (41.41) | (61.10) | (51.81) |
| Profit before Tax | 115.05 | 176.13 | 95.88 | 836.14 | 729.41 |
| Tax Expense | | | | | |
| Current Tax | (1.10) | 5.11 | 2.11 | 1.05 | 0.61 |
| Deferred Tax | (32.26) | (45.12) | (27.06) | (217.68) | (206.48) |
| Total Tax Expense (net of reversals) | (33.36) | (40.01) | (24.95) | (216.63) | (205.87) |
| Net Profit after Tax (A) | 81.69 | 136.12 | 70.93 | 619.51 | 523.54 |
| Other Comprehensive Income | | | | | |
| i) Items that will not be reclassified to profit or loss | | | | | |
| Remeasurement of defined benefit plans | 10.67 | (3.49) | (9.56) | (4.44) | (28.18) |
| Changes in fair valuation of equity instruments | 0.93 | 2.27 | 4.67 | 5.87 | 9.84 |
| | 11.60 | (1.22) | (4.89) | 1.43 | (18.34) |
| Tax impact of above items | (3.79) | 0.86 | 3.44 | 0.01 | 7.47 |
| | 7.81 | (0.36) | (1.45) | 1.44 | (10.87) |
| ii) Items that will be reclassified to profit or loss | | | | | |
| Gains/(loss) on effective portion of cash flow hedges | 1.43 | (0.64) | (1.67) | 2.62 | (6.53) |
| Tax impact of above item | (0.36) | 0.16 | 0.68 | (0.66) | 2.13 |
| | 1.07 | (0.48) | (0.99) | 1.96 | (4.40) |
| Other Comprehensive Income (B) | 8.88 | (0.84) | (2.44) | 3.40 | (15.27) |
| Total Comprehensive Income (A+B) | 90.57 | 135.28 | 68.49 | 622.91 | 508.27 |
| Paid-up equity share capital (Face value of Re. 1 each) | 92.16 | 92.16 | 92.16 | 92.16 | 92.16 |
| Reserves excluding Revaluation Reserves | | | | 11110.08 | 10735.99 |
| Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs. | 0.89 | 1.48 | 0.77 | 6.72 | 5.68 |
Notes:
1. For the quarter, Revenue from operations increased by 39% over corresponding quarter of the previous year driven by growth in volume and value mainly in the branded business. Profit before Tax at Rs 115 crores is higher as compared to corresponding quarter of previous year mainly on account of growth in revenue and lower exceptional items which has been partly impacted by record tea cost inflation and higher investments behind brands. Consequently, Profit after tax is also higher than corresponding quarter of previous year.
2. Exceptional item for the current quarter represent costs relating to the business restructure and reorganization of Rs 14 crores. Exceptional costs for the corresponding quarter of previous year of Rs 41 crores represents costs relating to scheme of merger and Integration Costs in relation to foods business.
3. During the quarter and financial year ended March 31, 2021, the Company's performance was not adversely impacted by the Covid pandemic but recorded good top line growth. However, tea commodity costs were adversely impacted. There can be future business uncertainties depending on developments in relation to the pandemic, particularly those arising from the second wave in India, which could include market closures, supply constraints and commodity cost volatility
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 the quarter ended March 31, 2021 and 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.
6. Statement of Assets and Liabilities as at March 31, 2021 and Cash flow Statement for the year ended March 31, 2021 is annexed.
7. The Board of Directors has recommended a dividend payment of Rs 4.05 per share (Face value Re. 1 each) for the year ended March 31, 2021.
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 May 5, 2021 and subsequently taken on record by the Board of Directors at its meeting held on May 6, 2021. The Statutory Auditors of the Company have audited the annual results.
|
Mumbai: May 6, 2021 |
Sd/- 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
Audited Statement of Assets and Liabilities as at March 31, 2021
Rs. In Crores
|
| March 31, 2021 | March 31, 2020 |
| ASSETS | | |
| Non-Current Assets | | |
| Property, Plant and Equipment | 258.30 | 225.32 |
| Capital work-in-progress | 46.46 | 22.16 |
| Right of Use Assets | 224.64 | 124.88 |
| Goodwill | 3578.51 | 3578.51 |
| Other Intangible Assets | 2509.90 | 2523.83 |
| Intangible Assets under development | 16.44 | 5.99 |
| Financial Assets | | |
| Investments | 2605.19 | 2324.91 |
| Loans | 21.71 | 22.35 |
| Other Financial Assets | 103.59 | 24.68 |
| Non-Current Tax Assets (Net) | 122.61 | 123.06 |
| Other Non-Current Assets | 88.91 | 87.64 |
| | 9576.26 | 9063.33 |
| Current assets | | |
| Inventories | 1408.37 | 919.95 |
| Financial Assets | | |
| Investments | 287.77 | 724.51 |
| Trade Receivables | 257.23 | 314.17 |
| Cash and Cash Equivalents | 644.74 | 243.24 |
| Other Bank Balances | 968.95 | 494.53 |
| Loans | 3.79 | 0.66 |
| Other Financial Assets | 31.57 | 75.20 |
| Other Current Assets | 253.08 | 214.84 |
| | 3855.50 | 2987.10 |
| TOTAL ASSETS | 13431.76 | 12050.43 |
| EQUITY AND LIABILITIES | | |
| Equity | | |
| Equity Share Capital | 92.16 | 92.16 |
| Other Equity | 11131.94 | 10757.85 |
| TOTAL EQUITY | 11224.10 | 10850.01 |
| Non-Current Liabilities | | |
| Financial Liabilities | | |
| Lease Liability | 215.30 | 121.82 |
| Other Financial Liability | 76.20 | - |
| Provisions | 148.21 | 137.52 |
| Deferred Tax Liabilities | 367.55 | 149.22 |
| | 807.26 | 408.56 |
| Current Liabilities | | |
| Financial Liabilities | | |
| Borrowings | - | 35.00 |
| Lease Liability | 28.94 | 23.69 |
| Trade Payables | | |
| Total outstanding dues of Micro enterprises and Small enterprises | 13.96 | 4.31 |
| Total outstanding dues of creditors other than Micro enterprises and Small enterprises | 1088.67 | 442.73 |
| Other Financial Liabilities | 81.93 | 120.11 |
| Other Current Liabilities | 99.73 | 75.91 |
| Provisions | 82.04 | 73.96 |
| Current Tax Liabilities (Net) | 5.13 | 16.15 |
| | 1400.40 | 791.86 |
| TOTAL EQUITY AND LIABILITIES | 13431.76 | 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
Audited Statement of Cash Flows for the year ended March 31, 2021
Rs. In Crores
| Particulars | March 31, 2021 | March 31, 2020 |
| A. Cash Flow from Operating Activities | | |
| Net Profit before Tax | 836.14 | 729.41 |
| Adjusted for : | | |
| Depreciation and Amortisation | 126.21 | 114.82 |
| Dividend Income | (55.20) | (47.15) |
| Unrealised Exchange (Gain) / Loss | 0.27 | (1.69) |
| Finance Cost | 28.13 | 25.73 |
| Fair value movement in Financial instruments at fair value through profit and loss | (8.11) | 3.31 |
| Interest Income | (57.96) | (46.57) |
| Profit on sale of current investments (net) | (11.57) | (24.88) |
| Impairment loss recognised in trade receivables (net of reversal) | 20.46 | (1.11) |
| (Profit) / Loss on sale of Property, Plant & Equipment (net) | 0.49 | 1.33 |
| Exceptional Items | 61.10 | 51.81 |
| Operating Profit before working capital changes | 939.96 | 805.01 |
| Adjustments for: | | |
| Trade Receivables & Other Assets | 36.02 | (118.96) |
| Inventories | (488.42) | 80.96 |
| Trade payables & Other Liabilities | 586.19 | 37.05 |
| Cash generated from Operations | 1073.75 | 804.06 |
| Direct Taxes paid (net) | (9.52) | (59.03) |
| Net Cash from/(used in) Operating Activities | 1064.23 | 745.03 |
| B. Cash Flow from Investing Activities | | |
| Payment for Property, Plant and Equipment and Intangibles | (146.89) | (65.28) |
| Sale of Property, Plant and Equipment | 0.17 | 0.11 |
| Sale of Non Current Investments carried at Fair value through OCI | - | 53.20 |
| Acquisition of Business | - | (101.01) |
| Acquisition of Subsidiaries | (168.80) | - |
| Investment in Joint Ventures | (97.50) | (53.00) |
| Dividend Income received | 55.20 | 47.15 |
| Interest Income received | 54.17 | 41.38 |
| (Purchase) / Sale of Current Investments (net) | 448.31 | (201.89) |
| (Placement) / Redemption Fixed deposits (net) | (473.71) | (430.65) |
| Inter Corporate Deposits and Loans (net) | (3.00) | 1.75 |
| Net cash from / (used in) Investing Activities | (332.05) | (708.24) |
| C. Cash Flow from Financing Activities | | |
| Working Capital facilities (net) | (35.00) | 35.00 |
| Payment of Lease Liabilities | (27.81) | (28.97) |
| Dividend Paid | (248.82) | (157.78) |
| Dividend Tax paid | - | (29.12) |
| Finance Cost paid | (19.05) | (17.11) |
| Net Cash from / (used in) Financing Activities | (330.68) | (197.98) |
| Net increase / (decrease) in Cash and Cash Equivalents (A+B+C) | 401.50 | (161.19) |
| Opening balance of Cash & Cash equivalent | 243.24 | 404.43 |
| Closing Cash & Cash Equivalent | 644.74 | 243.24 |
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