RNS Number : 0210B
Tata Consumer Products Limited
08 February 2022
 

 

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, 2021

                 Rs. In Crores

Particulars

Three months ended

Year to date ended

Year ended

December 31,  2021

September 30,
 2021

December 31,  2020

December 31,  2021

December 31,  2020

March 31,
 2021

 

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

 

Revenue from Operations

3208.38

3033.12

3069.56

9249.96

8564.81

11602.03

 

Other Income

25.04

39.62

19.49

92.67

78.42

121.38

 

 Total Income

3233.42

3072.74

3089.05

9342.63

8643.23

11723.41

 

 Cost of Materials Consumed

1161.58

1232.02

1392.56

3707.24

3614.52

4937.45

 

 Purchase of stock in trade

551.64

485.15

528.40

1579.47

1580.70

2114.40

 

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

93.36

19.12

(11.40)

38.57

(138.89)

(149.54)

 

 Employee Benefits Expense

258.91

255.64

241.23

779.96

700.01

970.23

 

 Finance Costs

16.16

19.78

18.09

56.37

53.24

68.69

 

 Depreciation and Amortisation Expense

69.80

69.31

64.40

205.90

188.87

254.74

 

 Advertisement and Sales charges

245.34

211.88

209.71

615.43

509.85

726.27

 

 Other Expenses

435.89

416.01

347.73

1254.84

1055.06

1459.46

 

 Total Expenses

2832.68

2708.91

2790.72

8237.78

7563.36

10381.70

 

 Profit before Exceptional Items and Tax

400.74

363.83

298.33

1104.85

1079.87

1341.71

 

 Exceptional Items (Net)

(13.18)

(16.31)

(6.13)

(33.41)

33.28

(30.65)

 

 Profit before Tax

387.56

347.52

292.20

1071.44

1113.15

1311.06

 

 Tax Expense

 

 

 

 

 

 

 

  Current tax

(62.95)

(50.03)

(20.17)

(174.14)

(72.45)

(98.16)

 

  Deferred tax

(36.93)

(36.10)

(35.00)

(107.58)

(180.25)

(219.11)

 

 Total Tax Expense (Net)

(99.88)

(86.13)

(55.17)

(281.72)

(252.70)

(317.27)

 

 Net Profit after Tax

287.68

261.39

237.03

789.72

860.45

993.79

 

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

2.39

24.41

0.35

(13.61)

(4.34)

(63.33)

 

 Group Consolidated Net Profit (A)

290.07

285.80

237.38

776.11

856.11

930.46

 

 Attributable to :

 

 

 

 

 

 

 

 Owners of the Parent

265.05

268.04

218.17

718.24

802.79

856.69

 

 Non Controlling Interest

25.02

17.76

19.21

57.87

53.32

73.77

 

 Other Comprehensive Income

 

 

 

 

 

 

 

 i) Items that will not be reclassified to profit or loss (net of Tax)

 

 

 

 

 

 

 

Remeasurement of the defined benefit plans

54.18

(37.26)

(67.10)

           15.53

(136.01)

(145.58)

 

 Changes in fair valuation of equity instruments

(0.18)

3.48

2.27

             4.69

4.94

5.88

 

 

 

           54.00

          (33.78)

(64.83)

           20.22

(131.07)

(139.70)

 

Tax impact on above items

(10.90)

5.81

12.66

         (17.34)

20.52

22.06

 

 

 

43.10

(27.97)

(52.17)

             2.88

(110.55)

(117.64)

 

ii) Items that will be reclassified to profit or loss (net of tax)

 

 

 

 

 

 

 

Exchange differences on translation of foreign operations

18.44

(141.78)

195.54

           (0.31)

215.23

262.68

 

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

(14.01)

21.77

25.42

           41.80

17.99

3.56

 

  

4.43

(120.01)

220.96

           41.49

233.22

266.24

 

Tax impact on above items

2.74

(4.53)

(6.45)

         (12.90)

(4.80)

0.82

 

  

7.17

(124.54)

214.51

           28.59

228.42

267.06

 

Total Other Comprehensive Income (B)

50.27

(152.51)

162.34

           31.47

117.87

149.42

 

 Attributable to :

 

 

 

 

 

 

 

 Owners of the Parent

44.52

(134.54)

137.91

           22.40

99.27

127.49

 

 Non Controlling Interest

5.75

(17.97)

24.43

             9.07

18.60

21.93

 

 Total Comprehensive Income (A+B)

340.34

133.29

399.72

807.58

973.98

1079.88

 

 Attributable to :

 

 

 

 

 

 

 

 Owners of the Parent

309.57

133.50

356.08

740.64

902.06

984.18

 

 Non Controlling Interest

30.77

(0.21)

43.64

66.94

71.92

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

2.88

2.91

2.37

7.79

8.71

9.30

 

 

Notes:

 

1.   For the quarter, Revenue from operations increased by 5% (4% in constant currency) as compared to corresponding quarter of the previous year. Profit before exceptional items and tax at Rs 401 Crores is higher by 34%. Group Consolidated Net Profit at Rs 290 Crores is higher by 22%.

 

2.   Exceptional item for the current quarter of Rs 13 Crores mainly represent costs relating to the business restructure and redundancy.  Exceptional item for the corresponding quarter of the previous year mainly represent costs relating to the business integration in India of Rs 6 Crores.

 

3.   During the quarter, the Parent Company has acquired:

 

(a)  100% equity of Tata SmartFoodz Limited, pursuant to a share purchase agreement, on November 16, 2021. The acquisition will add Ready-to-Eat packaged food products under the brand 'Tata Q' in its portfolio and a manufacturing facility for expansion in food products;

(b)  control of TRIL Constructions Limited, consequent to a revised shareholder agreement which converted the associate into a subsidiary with effect from November 17, 2021.

 

4.   During the quarter ended December 31, 2021, Group's performance experienced some adverse impact due to Covid pandemic. There can be future business uncertainties depending on developments in relation to the pandemic, particularly those arising from third wave in India, which could include market closures, supply constraints and commodity cost volatility.

 

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.   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 02, 2022 and subsequently taken on record by the Board of Directors at its Meeting held on February 02, 2022. 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, 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: February 02, 2022

 

 

 

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, 2021

                 Rs. In Crores

Particulars

Three months ended

Year to date ended

Year ended

December 31, 2021

September 30, 2021

December 31, 2020

December 31, 2021

December 31, 2020

March 31, 2021

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

Segment Revenue

 

 

 

 

 

 

Branded Business

 

 

 

 

 

 

India - Beverages

1277.68

1265.86

1264.83

3810.63

3361.41

4561.55

India - Foods

732.36

712.22

630.64

2149.25

1800.01

2441.69

International Business

896.62

781.27

936.76

2445.47

2628.52

3508.43

Total Branded Business

2906.66

2759.35

2832.23

8405.35

7789.94

10511.67

Non Branded Business

312.25

279.91

246.47

869.80

798.53

1122.17

Total Segment Revenue

3218.91

3039.26

3078.70

9275.15

8588.47

11633.84

Others

4.50

6.28

8.39

13.51

12.70

13.45

Less: Inter segment Sales

(15.03)

(12.42)

(17.53)

(38.70)

(36.36)

(45.26)

Revenue from Operations

3208.38

3033.12

3069.56

9249.96

8564.81

11602.03

Segment Results

 

 

 

 

 

 

Branded Business

 

 

 

 

 

 

India - Beverages

220.27

169.68

77.18

540.68

434.04

487.87

India - Foods

42.62

74.84

93.36

213.46

300.87

387.66

International Business

144.21

109.69

124.73

349.90

358.71

467.32

Total Branded Business

 

 

 

 

 

 

Non Branded Business

407.10

354.21

295.27

1104.04

1093.62

1342.85

Total Segment Results

23.17

21.54

20.36

63.34

52.42

90.89

Add/(Less)

430.27

375.75

315.63

1167.38

1146.04

1433.74

Other Income

 

 

 

 

 

 

Finance Cost

18.94

32.71

16.11

76.19

69.37

95.82

Unallocable items

(16.16)

(19.78)

(18.09)

(56.37)

(53.24)

(68.69)

Exceptional Items

(32.31)

(24.85)

(15.32)

(82.35)

(82.30)

(119.16)

Profit Before Tax

(13.18)

(16.31)

(6.13)

(33.41)

33.28

(30.65)

Segment Assets

 

 

 

 

 

 

Branded Business

 

 

 

 

 

 

India - Beverages

2422.92

2143.98

2753.21

2422.92

2753.21

2311.90

India - Foods

6968.67

6499.12

6163.14

6968.67

6163.14

6442.40

International Business

5338.40

5256.56

5448.38

5338.40

5448.38

5206.59

Total Branded Business

14729.99

13899.66

14364.73

14729.99

14364.73

13960.89

Non Branded Business

1646.85

1637.48

1521.20

1646.85

1521.20

1577.24

Total Segment Assets

16376.84

15537.14

15885.93

16376.84

15885.93

15538.13

Unallocable Corporate Assets

4072.81

4254.35

3981.94

4072.81

3981.94

4717.74

Total Assets

20449.65

19791.49

19867.87

20449.65

19867.87

20255.87

Segment Liabilities

 

 

 

 

 

 

Branded Business

 

 

 

 

 

 

India - Beverages

1290.97

1176.23

1098.76

1290.97

1098.76

1309.12

India - Foods

400.33

314.05

257.62

400.33

257.62

293.77

International Business

716.98

692.98

758.32

716.98

758.32

756.98

Total Branded Business

2408.28

2183.26

2114.70

2408.28

2114.70

2359.87

Non Branded Business

158.58

195.84

162.65

158.58

162.65

174.35

Total Segment Liabilities

2566.86

2379.10

2277.35

2566.86

2277.35

2534.22

Unallocable Corporate Liabilities

1809.38

1716.85

1970.17

1809.38

1970.17

2094.61

Total Liabilities

4376.24

4095.95

4247.52

4376.24

4247.52

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 & Water and sale of food products 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, 2021

                 Rs. In Crores

 

 

Particulars 

 

Three months ended

Year to date ended

Year ended

 December 31, 2021

September 30, 2021

 December 31, 2020

 December 31, 2021

 December 31, 2020

 March 31, 2021

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Audited

Revenue from Operations

2030.48

1987.50

1962.73

5983.87

5304.30

7154.36

Other Income

23.80

31.05

              25.02

201.08

104.29

133.01

Total Income

2054.28

2018.55

1987.75

6184.95

5408.59

Cost of materials consumed

746.38

          826.54

1061.64

2459.77

2528.69

3421.65

Purchase of stock-in-trade

440.47

          403.04

            367.97

1260.45

1061.98

1425.63

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

57.64

             19.05

            (57.43)

              56.58

          (139.55)

     (116.90)

Employees benefits expense

90.91

             88.87

              80.18

268.14

            229.40

         321.58

Finance costs

7.28

               7.65

                7.22

              22.59

              20.21

          28.13

Depreciation and amortisation expense

35.73

             36.09

              32.41

            106.70

              92.84

         126.21

Advertisement and sales charges

150.14

          132.90

            126.64

            369.18

            273.17

         396.83

Other expenses

264.30

          248.39

            186.62

            746.48

            574.09

         787.00

Total Expenses

1792.85

1762.53

1805.25

5289.89

4640.83

6390.13

Profit before Exceptional Items and Tax

261.43

256.02

            182.50

895.06

767.76

         897.24

Exceptional Items (Net)

              (9.41)

           (7.19)

              (6.37)

            (16.60)

            (46.67)

        (61.10)

Profit before Tax

252.02

         248.83

            176.13

            878.46

            721.09

         836.14

Tax Expense

 

 

 

 

 

 

Current Tax

            (28.31)

          (30.64)

                5.11

          (101.39)

                2.15

             1.05

Deferred Tax

            (36.23)

         (29.85)

            (45.12)

            (97.51)

          (185.42)

      (217.68)

 

 

 

 

 

 

 

Total Tax Expense ( net of reversals)

            (64.54)

          (60.49)

            (40.01)

          (198.90)

          (183.27)

     (216.63)

Net Profit after Tax (A)

            187.48

         188.34

            136.12

            679.56

            537.82

         619.51

Other Comprehensive Income

 

 

 

 

 

 

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

 

 

 

 

 

 

Remeasurement of defined benefit plans

                2.62

              0.81

              (3.49)

              (1.31)

            (15.11)

          (4.44)

Changes in fair valuation of equity instruments

              (0.18)

               3.48

                2.27

                4.69

                4.94

             5.87

 

                2.44

               4.29

              (1.22)

                3.38

            (10.17)

            1.43

Tax impact of above items

              (0.69)

           (1.05)

                0.86

              (0.55)

                3.80

             0.01

 

                1.75

               3.24

              (0.36)

                2.83

              (6.37)

             1.44

ii) Items that will be reclassified to profit or loss

 

 

 

 

 

 

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

              (0.61)

               1.55

              (0.64)

                0.89

                1.19

             2.62

Tax impact of above item

                0.16

           (0.39)

                0.16

              (0.22)

              (0.30)

          (0.66)

 

              (0.45)

              1.16

              (0.48)

                0.67

                0.89

             1.96

Other Comprehensive Income (B)

                1.30

              4.40

              (0.84)

                3.50

              (5.48)

             3.40

Total Comprehensive Income (A+B)

            188.78

          192.74

            135.28

            683.06

            532.34

         622.91

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

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

                2.03

              2.04

                1.48

                7.37

                5.84

            6.72

 

Notes:

 

1.     For the quarter, Revenue from operations at Rs 2030 Crores increased by 3% over corresponding quarter of the previous year driven by growth in branded business. Profit before tax at Rs 252 Crores is higher by 43% as compared to corresponding quarter of previous year mainly on account of revenue growth and improved gross margin which has been partly offset by higher spends behind brands. Profit after tax is higher by 38% over the corresponding quarter of previous year.

2.     Exceptional item for the current quarter primarily represents costs relating to business restructure and redundancy cost of Rs 9 Crores. Exceptional item for the corresponding quarter of previous year represents costs relating to the business integration of foods business of Rs 6 Crores.

3.     During the quarter, the  Company has acquired:

(c)   100% equity of Tata SmartFoodz Limited, pursuant to a share purchase agreement, on November 16, 2021. The acquisition will add Ready-to-Eat packaged food products under the brand 'Tata Q' in its portfolio and manufacturing facilities for expansion of the foods business;

(d)  control of TRIL Constructions Limited, consequent to a revised shareholder agreement which converted the associate into a subsidiary with effect from November 17, 2021.

4.     During the quarter ended December 31, 2021, Company's performance experienced some adverse impact due to Covid pandemic. There can be future business uncertainties depending on developments in relation to the pandemic, particularly those arising from the third wave in India, which could include market closures, supply constraints and commodity cost volatility.

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.     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 02, 2022 and subsequently taken on record by the Board of Directors at its meeting held on February 02, 2022. The Statutory Auditors of the Company have conducted limited review on these results.

 

 

 

 

Sunil D'Souza

Managing Director and CEO

Mumbai: February 02, 2022

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
QRTUPUBWPUPPUBR