RNS Number : 4655I
Tata Consumer Products Limited
12 August 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 ended June 30, 2021

Rs. in Crores

Particulars

Three months ended

Year ended

June 30, 2021

March 31, 2021

June 30, 2020

March 31, 2021

Unaudited

Refer Note 5

Unaudited

Audited

 Revenue from Operations

3008.46

3037.22

2713.91

11602.03

 Other Income

28.01

42.96

32.71

121.38

 Total Income

3036.47

3080.18

2746.62

11723.41

 Cost of Materials Consumed

1313.64

1322.93

1013.85

4937.45

 Purchase of stock in trade

542.68

533.70

533.32

2114.40

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

(73.91)

(10.65)

(46.55)

(149.54)

 Employee Benefits Expense

265.41

270.22

229.05

970.23

 Finance Costs

20.43

15.45

17.28

68.69

 Depreciation and Amortisation Expense

66.79

65.87

61.90

254.74

 Advertisement and Sales charges

158.21

216.42

133.76

726.27

 Other Expenses

402.94

404.40

367.83

1459.46

 Total Expenses

2696.19

2818.34

2310.44

10381.70

 Profit before Exceptional Items and Tax

340.28

261.84

436.18

1341.71

 Exceptional Items (Net)

(3.92)

(63.93)

63.31

(30.65)

 Profit before Tax

336.36

197.91

499.49

1311.06

 Tax Expense

 

 

 

 

   Current tax

(61.16)

(25.71)

(27.10)

(98.16)

   Deferred tax

(34.55)

(38.86)

(83.30)

(219.11)

 Total Tax Expense (Net)

(95.71)

(64.57)

(110.40)

(317.27)

 Net Profit after Tax

240.65

133.34

389.09

993.79

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

(40.41)

(58.99)

(43.54)

(63.33)

 Group Consolidated Net Profit (A)

200.24

74.35

345.55

930.46

 Attributable to :

 

 

 

 

 Owners of the Parent

185.15

53.90

327.56

856.69

 Non Controlling Interest

15.09

20.45

17.99

73.77

 Other Comprehensive Income

 

 

 

 

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

 

 

 

 

     Remeasurement of the defined benefit plans

(1.39)

(9.57)

(61.73)

(145.58)

     Changes in fair valuation of equity instruments

1.39

0.94

1.60

5.88

 

              -  

(8.63)

(60.13)

(139.70)

 Tax impact on above items

(12.25)

1.54

7.14

22.06

  

(12.25)

(7.09)

(52.99)

(117.64)

 ii) Items that will be reclassified to profit or loss

 

 

 

 

     Exchange differences on translation of foreign operations

123.03

47.45

(10.22)

262.68

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

34.04

(14.43)

(38.27)

3.56

  

157.07

33.02

(48.49)

266.24

 Tax impact on above items

(11.11)

5.62

8.25

0.82

  

145.96

38.64

(40.24)

267.06

 Total Other Comprehensive Income (B)

133.71

31.55

(93.23)

149.42

 

 

 

 

   Owners of the Parent

112.42

28.22

(80.85)

127.49

   Non Controlling Interest

21.29

3.33

(12.38)

21.93

 Total Comprehensive Income (A+B)

333.95

105.90

252.32

1079.88

 Attributable to :

 

 

 

 

    Owners of the Parent

297.57

82.12

246.71

984.18

    Non Controlling Interest

36.38

23.78

5.61

95.70

 Paid-up equity share capital (Face value of Re 1 each)

92.16

92.16

            92.16

92.16

 Reserves excluding Revaluation Reserve

 

 

 

14420.49

 Earnings per share (Basic & Diluted) (not annualised for the quarter) - Rs

2.01

0.58

3.55

9.30

 

 

Notes:

 

1.   For the quarter, Revenue from operations increased by 11% (10% in constant currency) as compared to corresponding quarter of the previous year, mainly driven by growth of 28% in India Beverages and 20% in India Foods, International business reported lower revenue as previous year had Covid induced pantry stocking. Profit before exceptional items and tax at Rs 340 Crores is lower as previous year had the benefits of softer tea commodity cost in India and pantry stocking gains in the International business. Group Consolidated Net Profit is lower also on account of exceptional gains in the previous year.

 

2.   Exceptional item for the current quarter mainly represent costs relating to the business restructure of Rs 4 Crores.  Exceptional item for the corresponding quarter of the previous year represents gain of Rs 84 Crores on conversion of a Joint Venture into a Subsidiary and costs relating to the business integration Rs 21 Crores.

 

3.   During the quarter ended June 30, 2021, the Group's performance was not adversely impacted by the Covid pandemic, except for some businesses, in particular, those in out of home consumption sectors. There can be future business uncertainties depending on developments in relation to the pandemic, 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.   Figures of the quarter ended March 31, 2021 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.   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 August 02, 2021 and subsequently taken on record by the Board of Directors at its Meeting held on August 03, 2021. The Statutory Auditors of the Company have conducted limited review on these results.

 

8.   The Consolidated and Standalone result for the quarter ended June 30, 2021 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: August 3, 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 quarter ended June 30, 2021

Rs. in Crores

Particulars

  Three months ended

  Year ended

June 30, 2021

March 31, 2021

June 30, 2020

March 31, 2021

Unaudited

Refer Note 5

Unaudited

Audited

Segment Revenue

 

 

 

 

Branded Business

 

 

 

 

  India - Beverages

1267.09

1200.14

988.62

4561.55

  India - Foods

704.67

641.68

589.06

2441.69

  International - Beverages

767.58

879.91

879.22

3508.43

Total Branded Business

2739.34

2721.73

2456.90

10511.67

Non Branded Business

277.64

323.64

264.42

1122.17

Total Segment Revenue

3016.98

3045.37

2721.32

11633.84

Others

2.73

0.75

1.07

13.45

Less: Inter segment Sales

(11.25)

(8.90)

(8.48)

(45.26)

Revenue from Operations

3008.46

3037.22

2713.91

11602.03

Segment Results

 

 

 

 

Branded Business

 

 

 

 

  India - Beverages

150.73

50.90

212.14

487.87

  India - Foods

96.00

86.79

114.56

387.66

  International - Beverages

96.00

111.54

128.65

467.32

  Total Branded Business

342.73

249.23

455.35

1342.85

Non Branded Business

18.63

38.47

13.95

90.89

Total Segment Results

361.36

287.70

469.30

1433.74

Add/Less

 

 

 

 

Other Income

24.54

26.45

29.29

95.82

Finance Cost

(20.43)

(15.45)

(17.28)

(68.69)

Unallocable items

(25.19)

(36.86)

(45.13)

(119.16)

Exceptional Items

(3.92)

(63.93)

63.31

(30.65)

Profit Before Tax

336.36

197.91

499.49

1311.06

Segment Assets

 

 

 

 

Branded Business

 

 

 

 

India - Beverages

1897.09

2311.90

1528.56

2311.90

India - Foods

6533.87

6442.40

6204.81

6442.40

International - Beverages

5375.41

5206.59

5369.88

5206.59

Total Branded Business

13806.37

13960.89

13103.25

13960.89

Non Branded Business

1594.30

1577.24

1575.68

1577.24

Total Segment Assets

15400.67

15538.13

14678.93

15538.13

Unallocable Corporate Assets

4404.29

4717.74

4308.73

4717.74

Total Assets

19804.96

20255.87

18987.66

20255.87

Segment Liabilities

 

 

 

 

Branded Business

 

 

 

 

  India - Beverages

1011.09

1309.12

            706.19

1309.12

  India - Foods

326.00

293.77

            243.15

293.77

  International - Beverages

718.26

756.98

            762.96

756.98

  Total Branded Business

2055.35

2359.87

1712.30

2359.87

  Non Branded Business

183.01

174.35

            158.34

174.35

Total Segment Liabilities

2238.36

2534.22

1870.64

2534.22

Unallocable Corporate Liabilities

2004.13

2094.61

1976.10

2094.61

Total Liabilities

4242.49

4628.83

3846.74

4628.83

 

 

 

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. A business unit has been regrouped between the segments in the current year, the corresponding segment information for the comparative periods have been restated as per the requirements of Ind AS 108.

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, 2021

Rs. in Crores

Particulars

Three months ended

Year ended

 

June 30, 2021

March 31, 2021

June 30, 2020

March 31, 2021

 

Unaudited

Refer note 5

Unaudited

Audited

Revenue from Operations

1965.89

1850.06

1605.43

7154.36

Other Income

                146.23

28.72

45.70

133.01

Total Income

2112.12

1878.78

1651.13

7287.37

Cost of materials consumed

                886.85

892.96

               603.91

3421.65

Purchase of stock-in-trade

                416.94

363.65

               340.15

1425.63

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

               (20.11)

               22.65

                   5.62

             (116.90)

Employees benefits expense

                  88.36

92.18

                 71.77

              321.58

Finance costs

                    7.66

7.92

                   6.53

                28.13

Depreciation and amortisation expense

                  34.88

33.37

                 29.59

              126.21

Advertisement and sales charges

                  86.14

123.66

                 56.49

              396.83

Other expenses

                233.79

212.91

               201.81

              787.00

Total Expenses

1734.51

1749.30

1315.87

6390.13

Profit before Exceptional Items and Tax

                 377.61

129.48

335.26

              897.24

Exceptional Items (Net)

                        -  

             (14.43)

               (21.00)

              (61.10)

Profit before Tax

                 377.61

             115.05

               314.26

              836.14

Tax Expense

 

 

 

 

Current Tax

                (42.44)

               (1.10)

                 (1.13)

                  1.05

Deferred Tax

                (31.43)

             (32.26)

               (80.82)

             (217.68)

Total Tax Expense (net of reversals)

                (73.87)

             (33.36)

               (81.95)

             (216.63)

Net Profit after Tax (A)

                 303.74

               81.69

               232.31

              619.51

Other Comprehensive Income

 

 

 

 

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

 

 

 

 

Remeasurement of defined benefit plans

                   (4.74)

               10.67

               (14.43)

                (4.44)

Changes in fair valuation of equity instruments

                     1.39

                0.93

                   1.60

                  5.87

 

                   (3.35)

               11.60

               (12.83)

                  1.43

Tax impact of above items

                     1.19

               (3.79)

                   3.63

                  0.01

 

                   (2.16)

                7.81

                 (9.20)

                  1.44

ii) Items that will be reclassified to profit or loss

 

 

 

 

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

                   (0.05)

                1.43

                 (0.84)

                  2.62

Tax impact of above item

                     0.01

               (0.36)

                   0.21

                (0.66)

 

                   (0.04)

                1.07

                 (0.63)

                  1.96

Other Comprehensive Income (B)

                   (2.20)

                8.88

                 (9.83)

                  3.40

Total Comprehensive Income (A+B)

                 301.54

               90.57

               222.48

              622.91

Paid-up equity share capital (Face value of Re. 1 each)

                   92.16

92.16

                 92.16

92.16

Reserves excluding Revaluation Reserves

 

 

 

11110.08

Earnings per share (Basic & Diluted) (not annualised for the quarter end)-Rs.

                     3.30

                0.89

                   2.52

                  6.72

 

 

Notes:

 

1.   For the quarter, Revenue from operations increased by 22% over corresponding quarter of the previous year mainly due to volume and value growth in branded business. Profit before exceptional items at Rs 378 crores is higher by 13% as compared to corresponding quarter of previous year due to sales growth and higher dividend Income from Subsidiaries net of higher commodity costs and higher spends behind brands. Profit after tax is also higher by 31% over the corresponding quarter of previous year.

 

2.   During the quarter ended June 30, 2021, the Company's performance was not adversely impacted by the Covid pandemic. There can be future business uncertainties depending on developments in relation to the pandemic, which could include market closures, supply constraints and commodity cost volatility.

 

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

 

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 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.

 

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 August 2, 2021 and subsequently taken on record by the Board of Directors at its meeting held on August 3, 2021. The Statutory Auditors of the Company have conducted limited review on these results.

 

 

                                                                                                       Sunil D'Souza

Managing Director and CEO

Mumbai: August 3, 2021

 

 

 

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