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Half-year Report

Published: 01/11/2021, 15:19

RNS Number : 9589Q

Tata Consumer Products Limited

01 November 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 six months ended September 30, 2021

Rs. In Crores

Particulars	Three months ended			Year to date ended		Year ended
	September 30, 2021	June 30, 2021	September 30, 2020	September 30, 2021	September 30, 2020	March 31, 2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from Operations	3033.12	3008.46	2781.34	6041.58	5495.25	11602.03
Other Income	39.62	28.01	26.22	67.63	58.93	121.38
Total Income	3072.74	3036.47	2807.56	6109.21	5554.18	11723.41
Cost of Materials Consumed	1232.02	1313.64	1208.11	2545.66	2221.96	4937.45
Purchase of stock in trade	485.15	542.68	518.98	1027.83	1052.30	2114.40
Changes in inventories of finished goods, work in progress and stock in trade	19.12	(73.91)	(80.94)	(54.79)	(127.49)	(149.54)
Employee Benefits Expense	255.64	265.41	229.73	521.05	458.78	970.23
Finance Costs	19.78	20.43	17.87	40.21	35.15	68.69
Depreciation and Amortisation Expense	69.31	66.79	62.57	136.10	124.47	254.74
Advertisement and Sales charges	211.88	158.21	166.38	370.09	300.14	726.27
Other Expenses	416.01	402.94	339.50	818.95	707.33	1459.46
Total Expenses	2708.91	2696.19	2462.20	5405.10	4772.64	10381.70
Profit before Exceptional Items and Tax	363.83	340.28	345.36	704.11	781.54	1341.71
Exceptional Items (Net)	(16.31)	(3.92)	(23.90)	(20.23)	39.41	(30.65)
Profit before Tax	347.52	336.36	321.46	683.88	820.95	1311.06
Tax Expense
Current tax	(50.03)	(61.16)	(25.18)	(111.19)	(52.28)	(98.16)
Deferred tax	(36.10)	(34.55)	(61.95)	(70.65)	(145.25)	(219.11)
Total Tax Expense (Net)	(86.13)	(95.71)	(87.13)	(181.84)	(197.53)	(317.27)
Net Profit after Tax	261.39	240.65	234.33	502.04	623.42	993.79
Share of net profit/(loss) in Associates and Joint Ventures using equity method	24.41	(40.41)	38.85	(16.00)	(4.69)	(63.33)
Group Consolidated Net Profit (A)	285.80	200.24	273.18	486.04	618.73	930.46
Attributable to :
Owners of the Parent	268.04	185.15	257.06	453.19	584.62	856.69
Non Controlling Interest	17.76	15.09	16.12	32.85	34.11	73.77
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of the defined benefit plans	(37.26)	(1.39)	(7.18)	(38.65)	(68.91)	(145.58)
Changes in fair valuation of equity instruments	3.48	1.39	1.07	4.87	2.67	5.88
	(33.78)	0.00	(6.11)	(33.78)	(66.24)	(139.70)
Tax impact on above items	5.81	(12.25)	0.72	(6.44)	7.86	22.06
	(27.97)	(12.25)	(5.39)	(40.22)	(58.38)	(117.64)
ii) Items that will be reclassified to profit or loss
Exchange differences on translation of foreign operations	(141.78)	123.03	29.91	(18.75)	19.69	262.68
Gains/(loss) on Effective portion of cash flow hedges	21.77	34.04	30.84	55.81	(7.43)	3.56
	(120.01)	157.07	60.75	37.06	12.26	266.24
Tax impact on above items	(4.53)	(11.11)	(6.60)	(15.64)	1.65	0.82
	(124.54)	145.96	54.15	21.42	13.91	267.06
Total Other Comprehensive Income (B)	(152.51)	133.71	48.76	(18.80)	(44.47)	149.42
Attributable to :
Owners of the Parent	(134.54)	112.42	42.21	(22.12)	(38.64)	127.49
Non Controlling Interest	(17.97)	21.29	6.55	3.32	(5.83)	21.93
Total Comprehensive Income (A+B)	133.29	333.95	321.94	467.24	574.26	1079.88
Attributable to :
Owners of the Parent	133.50	297.57	299.27	431.07	545.98	984.18
Non Controlling Interest	(0.21)	36.38	22.67	36.17	28.28	95.70
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						14420.49
Earnings per share (Basic & Diluted) (not annualised for the quarter and year to date) - Rs	2.91	2.01	2.79	4.92	6.34	9.30

Notes:

1. For the quarter, Revenue from operations increased by 9% (8% in constant currency) as compared to corresponding quarter of the previous year, mainly driven by growth of 14% in India Beverages and 23% in India Foods, International business revenues, excluding exited businesses, were marginally higher. Profit before exceptional items and tax at Rs 364 Crores is higher by 5% on account of improved gross margin partly offset by higher spends behind brands. Group Consolidated Net Profit at Rs 286 Crores is higher by 5%.

2. Exceptional item for the current quarter of Rs 16 Crores mainly represent costs relating to the business restructure and redundancy. Exceptional item for the corresponding quarter of the previous year represents 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.

3. During the quarter ended September 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 although there is an improving trend. 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. The Consolidated Statement of Assets and Liabilities as at September 30, 2021 and Consolidated Cash Flow Statement for the period ended September 30, 2021 is annexed.

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 October 21, 2021 and subsequently taken on record by the Board of Directors at its Meeting held on October 22, 2021. The Statutory Auditors of the Company have conducted limited review on these results.

8. The Consolidated and Standalone result for the quarter and six months ended September 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: October 22, 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 six months ended September 30, 2021

Rs. In Crores

Particulars	Three months ended			Year to date ended		Year ended
	September 30, 2021	June 30, 2021	September 30, 2020	September 30, 2021	September 30, 2020	March 31, 2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Segment Revenue
Branded Business
India - Beverages	1265.86	1267.09	1107.96	2532.95	2096.58	4561.55
India - Foods	712.22	704.67	580.31	1416.89	1169.37	2441.69
International Business	781.27	767.58	812.54	1548.85	1691.76	3508.43
Total Branded Business	2759.35	2739.34	2500.81	5498.69	4957.71	10511.67
Non Branded Business	279.91	277.64	287.64	557.55	552.06	1122.17
Total Segment Revenue	3039.26	3016.98	2788.45	6056.24	5509.77	11633.84
Others	6.28	2.73	3.24	9.01	4.31	13.45
Less: Inter segment Sales	(12.42)	(11.25)	(10.35)	(23.67)	(18.83)	(45.26)
Revenue from Operations	3033.12	3008.46	2781.34	6041.58	5495.25	11602.03
Segment Results
Branded Business
India - Beverages	169.68	150.73	144.71	320.41	356.85	487.87
India - Foods	74.84	96.00	92.95	170.84	207.51	387.66
International Business	109.69	96.00	105.34	205.69	233.99	467.32
Total Branded Business	354.21	342.73	343.00	696.94	798.35	1342.85
Non Branded Business	21.54	18.63	18.11	40.17	32.06	90.89
Total Segment Results	375.75	361.36	361.11	737.11	830.41	1433.74
Add/(Less)
Other Income	32.71	24.54	23.97	57.25	53.26	95.82
Finance Cost	(19.78)	(20.43)	(17.87)	(40.21)	(35.15)	(68.69)
Unallocable items	(24.85)	(25.19)	(21.85)	(50.04)	(66.98)	(119.16)
Exceptional Items	(16.31)	(3.92)	(23.90)	(20.23)	39.41	(30.65)
Profit Before Tax	347.52	336.36	321.46	683.88	820.95	1311.06
Segment Assets
Branded Business
India - Beverages	2143.98	1897.09	2464.42	2143.98	2464.42	2311.90
India - Foods	6499.12	6533.87	6188.80	6499.12	6188.80	6442.40
International Business	5256.56	5375.41	5318.81	5256.56	5318.81	5206.59
Total Branded Business	13899.66	13806.37	13972.03	13899.66	13972.03	13960.89
Non Branded Business	1637.48	1594.30	1515.36	1637.48	1515.36	1577.24
Total Segment Assets	15537.14	15400.67	15487.39	15537.14	15487.39	15538.13
Unallocable Corporate Assets	4254.35	4404.29	3916.82	4254.35	3916.82	4717.74
Total Assets	19791.49	19804.96	19404.21	19791.49	19404.21	20255.87
Segment Liabilities
Branded Business
India - Beverages	1176.23	1011.09	1029.70	1176.23	1029.70	1309.12
India - Foods	314.05	326.00	284.15	314.05	284.15	293.77
International Business	692.98	718.26	718.98	692.98	718.98	756.98
Total Branded Business	2183.26	2055.35	2032.83	2183.26	2032.83	2359.87
Non Branded Business	195.84	183.01	178.36	195.84	178.36	174.35
Total Segment Liabilities	2379.10	2238.36	2211.19	2379.10	2211.19	2534.22
Unallocable Corporate Liabilities	1716.85	2004.13	1972.15	1716.85	1972.15	2094.61
Total Liabilities	4095.95	4242.49	4183.34	4095.95	4183.34	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 Business. 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 Business : 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, 2021

Rs. In Crores

	As at September 30, 2021	As at March 31, 2021
	Unaudited	Audited
ASSETS
Non-Current Assets
Property Plant and Equipment	1252.19	1222.67
Capital Work in Progress	66.95	93.17
Investment Property	32.86	33.17
Right of Use Assets	371.01	386.41
Goodwill	7601.22	7596.57
Other Intangible Assets	2773.62	2784.31
Intangible Assets under Development	10.98	19.68
Investments accounted for using Equity method	242.61	207.27
Financial Assets
Investments	434.31	275.46
Loans	20.16	21.87
Other Financial Assets	68.63	74.92
Deferred Tax Assets (Net)	37.28	38.05
Non-current Tax Assets (net)	136.53	142.30
Other Non Current Assets	277.76	311.39
	13326.11	13207.24
Current Assets
Inventories	2281.93	2249.16
Financial Assets
Investments	175.38	323.16
Trade Receivables	651.99	761.32
Cash and Cash Equivalent	1214.73	2041.99
Other Bank balances	1349.38	1032.89
Loans	222.12	185.12
Other Financial Assets	185.43	116.35
Current Tax Assets (net)	3.13	1.37
Other Current Assets	381.29	337.27
	6465.38	7048.63
TOTAL ASSETS	19791.49	20255.87
EQUITY AND LIABILITIES
Equity
Equity Share Capital	92.16	92.16
Other Equity	14500.59	14442.35
Equity attributable to the equity holders of the company	14592.75	14534.51
Non Controlling Interest	1102.79	1092.53
Total Equity	15695.54	15627.04
Non-Current Liabilities
Financial Liabilities
Borrowings	264.42	287.54
Lease Liability	367.59	389.10
Other Financial Liabilities	83.82	80.24
Provisions	197.41	192.46
Deferred Tax Liabilities (Net)	658.75	570.16
Non Current Tax Liabilities	13.18	14.87

Current Liabilities
Financial Liabilities
Borrowings	488.78	919.62
Lease Liability	47.38	37.81
Trade Payables	1505.41	1625.47
Other Financial Liabilities	226.31	249.67
Other Current Liabilities	126.61	136.09
Provisions	97.61	101.71
Current Tax Liabilities (net)	18.68	24.09
	2510.78	3094.46
TOTAL EQUITY AND LIABILITIES	19791.49	20255.87

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, 2021

Rs. In Crores

	Particulars	September 30, 2021	September 30, 2020
A.	Cash Flow from Operating Activities
	Net Profit before Tax	683.88	820.95
	Adjusted for :
	Depreciation and Amortisation	136.10	124.47
	Finance Cost	40.21	35.15
	Dividend Income	(2.54)	(2.30)
	Profit on sale of current investments (net)	(5.01)	(8.76)
	Fair value movement in Financial instruments at fair value through profit or loss	(4.41)	(4.82)
	Interest Income	(45.23)	(37.43)
	Unrealised foreign exchange (gain) / loss	(0.47)	5.00
	Impairment loss recognised in trade receivables & advances (net of reversal)	-	16.12
	(Profit) / Loss on sale of Property, Plant & Equipment including Investment property (net)	(2.07)	0.23
	Rental Income from Investment Property	(1.24)	(2.08)

	Exceptional items -
	Gain on conversion of a Joint Venture into a Subsidiary	-	(84.30)
	Impairment of Asset	-	4.59
	Other Exceptional Expenses	20.23	40.30
	Operating Profit before working capital changes	819.45	907.12
	Adjustments for:
	Trade Receivables & Other Assets	16.77	165.93
	Inventories	(32.38)	(854.21)
	Trade payables & Other Liabilities	(130.99)	359.39
	Cash generated from /(used in) operations	672.85	578.23
	Direct taxes paid (net)	(130.03)	(45.46)
	Net Cash from /(used in) Operating Activities	542.82	532.77
B.	Cash Flow from Investing Activities
	Payment for Property, Plant and Equipment including Intangibles assets	(88.75)	(63.12)
	Sale of Property, Plant and Equipment	0.59	1.10
	Rental Income from Investment Property	1.24	2.08
	Sale of Non Current Investments carried at Fair value through OCI	0.15	-
	Acquisition of a Subsidiary	-	(13.00)
	Investments in Joint Ventures	(61.00)	(97.50)
	Investments in Associate	(150.00)	-
	Dividend Income received (including dividend from Associates & JVs)	9.13	5.04
	Interest Income received	34.83	32.71
	(Purchase) / Sale of Current Investments (net)	152.80	608.92
	(Placement) / Redemption Fixed deposits (net)	(314.52)	(363.89)
	Inter Corporate Loans and Deposits including FX (net)	(50.93)	(33.00)
	Net cash from /(used in) Investing Activities	(466.46)	79.34
C.	Cash Flow from Financing Activities
	Proceeds from / (Repayment of) Long term borrowings (net)	(465.42)	(30.85)
	Proceeds from / (Repayment of) Short term borrowings (net)	(0.73)	20.82
	Payment of Lease Liabilities	(26.07)	(22.43)
	Dividend paid	(398.45)	(260.75)
	Finance Cost paid	(33.17)	(32.36)
	Refund of Dividend Distribution Tax paid in an earlier year	13.38	9.07
	Net Cash from / (used in) Financing Activities	(910.46)	(316.50)
	Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)	(834.10)	295.61
	Opening balance of Cash and Cash Equivalent	1773.18	889.34
	Add: Cash and Cash equivalent of the acquired companies	-	5.11
	Less: Cash and Cash equivalent on disposal of a subsidiary	-	-
	Exchange Gain/ (Loss) on translation of foreign currency Cash and Cash equivalents	6.89	(10.00)
	Closing Cash and Cash Equivalent	945.97	1180.06
	Reconciliation with Balance Sheet
	Cash and Cash Equivalents	945.97	1180.06
	Add : Bank Overdraft	268.76	238.21
	Balance at the end of the period	1214.73	1418.27

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, 2021

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
	2021	2021	2020	2021	2020	2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from Operations	1987.50	1965.89	1736.14	3953.39	3341.57	7154.36
Other Income	31.05	146.23	33.57	177.28	79.27	133.01
Total Income	2018.55	2112.12	1769.71	4130.67	3420.84	7287.37
Cost of materials consumed	826.54	886.85	863.14	1713.39	1467.05	3421.65
Purchase of stock-in-trade	403.04	416.94	353.86	819.98	694.01	1425.63
Changes in inventories of finished goods, work-in-progress & stock-in-trade	19.05	(20.11)	(87.74)	(1.06)	(82.12)	(116.90)
Employees benefits expense	88.87	88.36	77.45	177.23	149.22	321.58
Finance costs	7.65	7.66	6.46	15.31	12.99	28.13
Depreciation and amortisation expense	36.09	34.88	30.84	70.97	60.43	126.21
Advertisement and sales charges	132.90	86.14	90.04	219.04	146.53	396.83
Other expenses	248.39	233.79	185.66	482.18	387.47	787.00
Total Expenses	1762.53	1734.51	1519.71	3497.04	2835.58	6390.13
Profit before Exceptional Items and Tax	256.02	377.61	250.00	633.63	585.26	897.24
Exceptional Items (Net)	(7.19)	-	(19.30)	(7.19)	(40.30)	(61.10)
Profit before Tax	248.83	377.61	230.70	626.44	544.96	836.14
Tax Expense
Current Tax	(30.64)	(42.44)	(1.83)	(73.08)	(2.96)	1.05
Deferred Tax	(29.85)	(31.43)	(59.48)	(61.28)	(140.30)	(217.68)

Total Tax Expense ( net of reversals)	(60.49)	(73.87)	(61.31)	(134.36)	(143.26)	(216.63)
Net Profit after Tax (A)	188.34	303.74	169.39	492.08	401.70	619.51
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans	0.81	(4.74)	2.81	(3.93)	(11.62)	(4.44)
Changes in fair valuation of equity instruments	3.48	1.39	1.07	4.87	2.67	5.87
	4.29	(3.35)	3.88	0.94	(8.95)	1.43
Tax impact of above items	(1.05)	1.19	(0.69)	0.14	2.94	0.01
	3.24	(2.16)	3.19	1.08	(6.01)	1.44
ii) Items that will be reclassified to profit or loss
Gains/(loss) on effective portion of cash flow hedges	1.55	(0.05)	2.67	1.50	1.83	2.62
Tax impact of above item	(0.39)	0.01	(0.67)	(0.38)	(0.46)	(0.66)
	1.16	(0.04)	2.00	1.12	1.37	1.96
Other Comprehensive Income (Net of tax) (B)	4.40	(2.20)	5.19	2.20	(4.64)	3.40
Total Comprehensive Income (A+B)	192.74	301.54	174.58	494.28	397.06	622.91
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						11110.08
Earnings per share (Basic & Diluted) (not annualised for the quarter and year to date end) - Rs.	2.04	3.30	1.84	5.34	4.36	6.72

Notes:

1. For the quarter, Revenue from operations at Rs 1988 crores increased by 14% over corresponding quarter of the previous year driven by growth in branded business. Profit before tax at Rs 249 crores is higher by 8% as compared to corresponding quarter of previous year mainly on account of growth in revenue and lower exceptional items partly offset by higher spends behind brands. Profit after tax is also higher by 11% over the corresponding quarter of previous year.

2. During the quarter ended September 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 current quarter primarily represents redundancy cost of Rs 6 crores. Exceptional item for the corresponding quarter of previous year represents costs relating to the business integration of foods business of Rs 10 crores and redundancy costs of Rs 9 crores.

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. Statement of Assets and Liabilities as at September 30, 2021 along with Cash flow Statement for the period ended September 30, 2021 is annexed.

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 October 21, 2021 and subsequently taken on record by the Board of Directors at its meeting held on October 22, 2021. The Statutory Auditors of the Company have conducted limited review on these results.

Sunil D'Souza

Managing Director and CEO

Mumbai: October 22, 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 Statement of Assets and Liabilities as at September 30, 2021

Rs. In Crores

	September 30 2021	March 31 2021
	Unaudited	Audited
ASSETS
Non-Current Assets
Property, Plant and Equipment	292.69	258.30
Capital work-in-progress	9.50	46.46
Right of Use Assets	216.39	224.64
Goodwill	3578.51	3578.51
Other Intangible Assets	2507.19	2509.90
Intangible Assets under development	9.85	16.44
Financial Assets
Investments	2825.22	2605.19
Loans	20.00	21.71
Other Financial Assets	111.05	103.59
Non-Current Tax Assets (Net)	112.37	122.61
Other Non-Current Assets	89.47	88.91
	9772.24	9576.26
Current assets
Inventories	1329.67	1408.37
Financial Assets
Investments	138.27	287.77
Trade Receivables	217.82	257.23
Cash and Cash Equivalents	344.41	644.74
Other Bank Balances	1277.35	968.95
Loans	88.80	3.79
Other Financial Assets	68.70	31.57
Other Current Assets	277.28	253.08
	3742.30	3855.50
TOTAL ASSETS	13514.54	13431.76
EQUITY AND LIABILITIES
Equity
Equity Share Capital	92.16	92.16
Other Equity	11252.99	11131.94
TOTAL EQUITY	11345.15	11224.10
Non-Current Liabilities
Financial Liabilities
Lease Liability	210.99	215.30
Other Financial Liabilities	80.56	76.20
Provisions	155.80	148.21
Deferred Tax Liabilities	429.07	367.55
	876.42	807.26
Current Liabilities
Financial Liabilities
Lease Liability	28.69	28.94
Trade Payables
Total outstanding dues of Micro enterprises and Small enterprises	12.76	13.96
Total outstanding dues of creditors other than Micro enterprises and Small enterprises	1006.95	1088.67
Other Financial Liabilities	67.93	81.93
Other Current Liabilities	88.83	99.73
Provisions	82.68	82.04
Current Tax Liabilities (Net)	5.13	5.13
	1292.97	1400.40
TOTAL EQUITY AND LIABILITIES	13514.54	13431.76

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, 2021

Rs. In Crores

	Particulars	September 30, 2021	September 30, 2020
A.	Cash Flow from Operating Activities
	Net Profit before Tax	626.44	544.96
	Adjusted for :
	Depreciation and Amortisation	70.97	60.43
	Dividend Income	(130.80)	(38.14)
	Unrealised Exchange (Gain) / Loss	(0.08)	0.54
	Finance Cost	15.31	12.99
	Fair value movement in Financial instruments at fair value through profit and loss	(4.41)	(4.35)
	Interest Income	(37.80)	(28.56)
	Profit on sale of current investments (net)	(4.14)	(8.16)
	Impairment loss recognised in trade receivables & advances (net of reversal)	-	15.80
	(Profit) / Loss on sale of Property, Plant & Equipment including Investment Property (net)	0.51	0.23
	Exceptional Items	7.19	40.30
	Operating Profit before working capital changes	543.19	596.04
	Adjustments for:
	Trade Receivables & Other Assets	(20.76)	(4.52)
	Inventories	78.70	(762.01)
	Trade payables & Other Liabilities	(111.69)	473.79
	Cash generated from Operations	489.44	303.30
	Direct Taxes paid (net)	(76.22)	(0.45)
	Net Cash from/(used in) Operating Activities	413.22	302.85
B.	Cash Flow from Investing Activities
	Payment for Property, Plant and Equipment and Intangibles	(41.29)	(41.45)
	Sale of Property, Plant and Equipment	0.33	0.03
	Investment in Associate	(150.00)	-
	Acquisition of a Subsidiary	-	(13.00)
	Investment in Joint Ventures	(61.00)	(97.50)
	Dividend Income received	130.80	38.14
	Interest Income received	29.47	26.70
	(Purchase) / Sale of Current Investments (net)	153.64	538.92
	(Placement) / Redemption Fixed deposits (net)	(306.30)	(366.77)
	Inter Corporate Deposits and Loans (net)	(83.25)	(3.00)
	Net cash from / (used in) Investing Activities	(327.60)	82.07
C.	Cash Flow from Financing Activities
	Working Capital facilities (net)	-	4.50
	Payment of Lease Liabilities	(15.52)	(13.41)
	Dividend paid	(373.23)	(248.82)
	Finance Cost paid	(10.58)	(8.43)
	Refund of Dividend Distribution Tax paid in an earlier year	13.38	-
	Net Cash from / (used in) Financing Activities	(385.95)	(266.16)
	Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)	(300.33)	118.76
	Opening balance of Cash & Cash equivalent	644.74	243.24
	Closing Cash & Cash Equivalent	344.41	362.00

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