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Half-year Report

Published: 26/10/2022, 08:47

RNS Number : 1654E

Tata Consumer Products Limited

26 October 2022

Tata Consumer Products 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, 2022

Rs. In Crores

Particulars	Three months ended			Year to date ended		Year ended
	September 30, 2022	June 30, 2022	September 30, 2021	September 30, 2022	September 30, 2021	March 31, 2022
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from Operations	3363.05	3326.83	3033.12	6689.88	6041.58	12425.37
Other Income	29.31	35.34	39.62	64.65	67.63	140.06
Total Income	3392.36	3362.17	3072.74	6754.53	6109.21	12565.43
Cost of Materials Consumed	1327.27	1360.48	1232.02	2687.75	2545.66	4908.36
Purchase of stock in trade	677.49	693.47	485.15	1370.96	1027.83	2215.39
Changes in inventories of finished goods, work in progress and stock in trade	(45.55)	(144.87)	19.12	(190.42)	(54.79)	(39.78)
Employee Benefits Expense	273.83	277.44	255.64	551.27	521.05	1048.00
Finance Costs	19.55	16.27	19.78	35.82	40.21	72.78
Depreciation and Amortisation Expense	73.14	72.92	69.31	146.06	136.10	278.01
Advertisement and Sales charges	216.90	211.60	211.88	428.50	370.09	840.99
Other Expenses	479.27	471.41	416.01	950.68	818.95	1733.63
Total Expenses	3021.90	2958.72	2708.91	5980.62	5405.10	11057.38
Profit before Exceptional Items and Tax	370.46	403.45	363.83	773.91	704.11	1508.05
Exceptional Items (Net)	111.22	(23.97)	(16.31)	87.25	(20.23)	(52.06)
Profit before Tax	481.68	379.48	347.52	861.16	683.88	1455.99
Tax Expense
Current tax	(108.79)	(82.65)	(50.03)	(191.44)	(111.19)	(220.24)
Deferred tax	(17.91)	(20.32)	(36.10)	(38.23)	(70.65)	(156.80)
Total Tax Expense (Net)	(126.70)	(102.97)	(86.13)	(229.67)	(181.84)	(377.04)
Net Profit after Tax	354.98	276.51	261.39	631.49	502.04	1078.95
Share of net profit/(loss) in Associates and Joint Ventures using equity method	34.45	0.21	24.41	34.66	(16.00)	(63.79)
Group Consolidated Net Profit (A)	389.43	276.72	285.80	666.15	486.04	1015.16
Attributable to :
Owners of the Parent	327.96	255.46	268.04	583.42	453.19	935.78
Non Controlling Interest	61.47	21.26	17.76	82.73	32.85	79.38
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of the defined benefit plans	(50.79)	(3.26)	(37.26)	(54.05)	(38.65)	55.91
Changes in fair valuation of equity instruments	14.18	(0.25)	3.48	13.93	4.87	4.67
	(36.61)	(3.51)	(33.78)	(40.12)	(33.78)	60.58
Tax impact on above items	9.71	0.28	5.81	9.99	(6.44)	(25.61)
	(26.90)	(3.23)	(27.97)	(30.13)	(40.22)	34.97
ii) Items that will be reclassified to profit or loss
Exchange differences on translation of foreign operations	(188.33)	(76.78)	(141.78)	(265.11)	(18.75)	12.74
Gains/(loss) on Effective portion of cash flow hedges	(5.73)	(9.74)	21.77	(15.47)	55.81	10.63
	(194.06)	(86.52)	(120.01)	(280.58)	37.06	23.37
Tax impact on above items	(0.91)	3.65	(4.53)	2.74	(15.64)	0.90
	(194.97)	(82.87)	(124.54)	(277.84)	21.42	24.27
Total Other Comprehensive Income (B)	(221.87)	(86.10)	(152.51)	(307.97)	(18.80)	59.24
Attributable to :
Owners of the Parent	(198.12)	(78.99)	(134.54)	(277.11)	(22.12)	50.78
Non Controlling Interest	(23.75)	(7.11)	(17.97)	(30.86)	3.32	8.46
Total Comprehensive Income (A+B)	167.56	190.62	133.29	358.18	467.24	1074.40
Attributable to :
Owners of the Parent	129.84	176.47	133.50	306.31	431.07	986.56
Non Controlling Interest	37.72	14.15	(0.21)	51.87	36.17	87.84
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						15027.92
Earnings per share (not annualised for the quarter and year to dateended)
Basic - Rs	3.56	2.77	2.91	6.33	4.92	10.15
Diluted - Rs	3.56	2.77	2.91	6.33	4.92	10.15

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 underlying growth of 9% in India Business, 6% in International Business and 30% in Non-Branded Business. Profit before exceptional items and tax at Rs 370 Crores is 2% higher as compared to corresponding quarter of the previous year reflecting the impact of inflationary pressures, weakness in currency and some lag in pricing. Group Consolidated Net Profit at Rs 389 Crores is higher by 36% mainly aided by exceptional income and improved performance of Joint ventures and Associates.

2. The Board of Directors of the Holding Company in its meeting held on March 29, 2022, had approved the composite scheme of arrangement (the Scheme), amongst the Holding Company and its subsidiaries, Tata Coffee Limited (TCL) and TCPL Beverages & Foods Limited (TBFL), in terms of Section 230-232 and other applicable provisions of Companies Act, 2013. The Scheme inter alia provides for the demerger of the Plantation Business (as defined in the Scheme) of TCL into TBFL and as consideration, issue equity shares of the Holding Company to all the shareholders of TCL (other than to itself) in accordance with the Share Entitlement Ratio mentioned in the Scheme. This would be followed immediately by the amalgamation of the TCL comprising of the Remaining Business (as defined in the Scheme) with the Holding Company and as consideration, issue equity shares of the Holding Company to all the shareholders of TCL (other than to itself) in accordance with the Share Exchange Ratio mentioned in the Scheme.

The Scheme would become effective after receipt of all requisite approvals as mentioned in the Scheme. Pending receipt of necessary approvals, no effect of the Scheme has been given in the financial results for the quarter and six months ended September 30, 2022.

3. Exceptional items for the current quarter mainly represent profit on sale of land of Rs 147 Crores and costs relating to the business restructure & reorganisation of Rs 35 Crores and cost relating to scheme of arrangement of Rs 1 Crore. Exceptional item for the corresponding quarter of the previous year represents costs relating to the business restructure and redundancy of Rs 16 Crores.

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, 2022 and Consolidated Cash Flow Statement for the period ended September 30, 2022 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 19, 2022 and subsequently taken on record by the Board of Directors at its Meeting held on October 20, 2022. The Statutory Auditors of the Company have conducted limited review on these results.

8. The Consolidated and Standalone results for the quarter and six months ended September 30, 2022 are available on the BSE Limited's website (URL: www.bseindia.com), the National Stock Exchange of India Limited's website (URL: www.nseindia.com) and on the Company's website (URL: www.tataconsumer.com).

Sunil D'Souza
Managing Director and CEO

Mumbai: October 20, 2022

Tata Consumer Products 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, 2022

Rs. In Crores

Particulars	Three months ended			Year to date ended		Year ended
	September 30, 2022	June 30, 2022	September 30, 2021	September 30, 2022	September 30, 2021	March 31, 2022
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Segment Revenue
Branded Business
India Business	2159.95	2145.20	1978.08	4305.15	3949.84	7913.54
International Business	838.87	836.62	781.27	1675.49	1548.85	3335.66
Total Branded Business	2998.82	2981.82	2759.35	5980.64	5498.69	11249.20
Non Branded Business	371.80	351.70	279.91	723.50	557.55	1214.44
Total Segment Revenue	3370.62	3333.52	3039.26	6704.14	6056.24	12463.64
Others	13.71	7.41	6.28	21.12	9.01	13.78
Less: Inter segment Sales	(21.28)	(14.10)	(12.42)	(35.38)	(23.67)	(52.05)
Revenue from Operations	3363.05	3326.83	3033.12	6689.88	6041.58	12425.37
Segment Results
Branded Business
India Business	307.68	273.15	244.52	580.83	491.25	1011.67
International Business	59.71	104.46	109.69	164.17	205.69	478.37
Total Branded Business	367.39	377.61	354.21	745.00	696.94	1490.04
Non Branded Business	29.98	39.41	21.54	69.39	40.17	92.65
Total Segment Results	397.37	417.02	375.75	814.39	737.11	1582.69
Add/(Less)
Other Income	25.41	33.13	32.71	58.54	57.25	109.94
Finance Cost	(19.55)	(16.27)	(19.78)	(35.82)	(40.21)	(72.78)
Unallocable items	(32.77)	(30.43)	(24.85)	(63.20)	(50.04)	(111.80)
Exceptional Items	111.22	(23.97)	(16.31)	87.25	(20.23)	(52.06)
Profit Before Tax	481.68	379.48	347.52	861.16	683.88	1455.99
Segment Assets
Branded Business
India Business	9197.90	8631.72	8643.10	9197.90	8643.10	9099.75
International Business	5420.05	5410.88	5256.56	5420.05	5256.56	5384.58
Total Branded Business	14617.95	14042.60	13899.66	14617.95	13899.66	14484.33
Non Branded Business	1831.69	1796.75	1637.48	1831.69	1637.48	1752.27
Total Segment Assets	16449.64	15839.35	15537.14	16449.64	15537.14	16236.60
Unallocable Corporate Assets	4361.56	4428.12	4254.35	4361.56	4254.35	4880.99
Total Assets	20811.20	20267.47	19791.49	20811.20	19791.49	21117.59
Segment Liabilities
Branded Business
India Business	1692.93	1278.53	1490.28	1692.93	1490.28	1756.03
International Business	805.77	680.26	692.98	805.77	692.98	785.88
Total Branded Business	2498.70	1958.79	2183.26	2498.70	2183.26	2541.91
Non Branded Business	194.04	199.96	195.84	194.04	195.84	178.91
Total Segment Liabilities	2692.74	2158.75	2379.10	2692.74	2379.10	2720.82
Unallocable Corporate Liabilities	2041.66	2197.18	1716.85	2041.66	1716.85	2103.21
Total Liabilities	4734.40	4355.93	4095.95	4734.40	4095.95	4824.03

Notes:

a. The Group has organised business into Branded Segment and Non Branded Segment. Branded Segment is further sub-categorised as India Business and International Business. 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 Business : Sale of branded Tea, Coffee & Water and 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

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, 2022

Rs. In Crores

	As at September 30, 2022	As at March 31, 2022
	Unaudited	Audited
ASSETS
Non-Current Assets
Property Plant and Equipment	1512.41	1480.31
Capital Work in Progress	245.03	209.44
Investment Property	14.95	17.31
Investment Property under Development	214.78	214.78
Right of Use Assets	383.88	378.44
Goodwill	7687.34	7754.11
Other Intangible Assets	2754.45	2754.40
Intangible Assets under Development	8.01	37.53
Investments accounted for using Equity method	250.46	234.31
Financial Assets
Investments	427.22	364.94
Loans	14.98	14.01
Other Financial Assets	40.28	35.69
Deferred Tax Assets (Net)	42.15	42.72
Non-current Tax Assets (Net)	138.02	141.66
Other Non Current Assets	230.92	302.26
	13964.88	13981.91
Current Assets
Inventories	2581.86	2266.51
Financial Assets
Investments	362.17	198.03
Trade Receivables	860.09	835.15
Cash and Cash Equivalent	1005.61	1497.97
Other Bank balances	738.89	1101.92
Loans	750.58	659.94
Other Financial Assets	151.38	184.30
Current Tax Assets (net)	15.98	1.33
Other Current Assets	379.76	390.53
	6846.32	7135.68
TOTAL ASSETS	20811.20	21117.59
EQUITY AND LIABILITIES
Equity
Equity Share Capital	92.16	92.16
Other Equity	14797.29	15049.78
Equity attributable to the equity holders of the company	14889.45	15141.94
Non Controlling Interest	1187.35	1151.62
Total Equity	16076.80	16293.56
Non-Current Liabilities
Financial Liabilities
Borrowings	225.43	241.87
Lease Liability	356.73	350.91
Other Financial Liabilities	94.08	93.14
Provisions	174.11	175.59
Deferred Tax Liabilities (Net)	795.28	776.41
Non Current Tax Liabilities	12.46	13.49
	1658.09	1651.41
Current Liabilities
Financial Liabilities
Borrowings	661.26	768.72
Lease Liability	51.00	50.51
Trade Payables	1889.84	1915.85
Other Financial Liabilities	216.30	211.78
Other Current Liabilities	115.99	132.15
Provisions	106.14	73.21
Current Tax Liabilities (net)	35.78	20.40
	3076.31	3172.62
TOTAL EQUITY AND LIABILITIES	20811.20	21117.59

Tata Consumer Products 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, 2022

Rs. In Crores

	Particulars	September 30, 2022	September 30, 2021
A.	Cash Flow from Operating Activities
	Net Profit before Tax	861.16	683.88
	Adjusted for :
	Depreciation and Amortisation	146.06	136.10
	Finance Cost	35.82	40.21
	Dividend Income	(2.51)	(2.54)
	Profit on sale of current investments (net)	(6.50)	(5.01)
	Fair value movement in Financial instruments at fair value through profit or loss	1.20	(4.41)
	Interest Income	(50.79)	(45.23)
	Unrealised foreign exchange (gain) / loss	(3.00)	(0.47)
	Impairment loss recognised in trade receivables & advances (net of reversal)	1.58	-
	Debts and advances written off	0.86	-
	(Profit) / Loss on sale of Property, Plant & Equipment including Investment property (net)	0.43	(2.07)
	Rental Income from Investment Property	(0.64)	(1.24)
	Exceptional items -
	Profit on sale of Investment Property	(147.04)	-
	Other Exceptional Items	59.79	20.23
	Operating Profit before working capital changes	896.42	819.45
	Adjustments for:
	Trade Receivables & Other Assets	(21.02)	16.77
	Inventories	(316.96)	(32.38)
	Trade payables & Other Liabilities	(74.30)	(130.99)
	Cash generated from /(used in) operations	484.14	672.85
	Direct taxes paid (net)	(187.99)	(130.03)
	Net Cash from /(used in) Operating Activities	296.15	542.82
B.	Cash Flow from Investing Activities
	Payment for Property, Plant and Equipment including Intangibles assets	(140.32)	(88.75)
	Sale of Property, Plant and Equipment / Investment Property	151.07	0.59
	Rental Income from Investment Property	0.64	1.24
	Sale of Non Current Investments carried at Fair value through OCI	-	0.15
	Investments in Joint Ventures	-	(61.00)
	Investments in Associate	(50.00)	(150.00)
	Dividend Income received (including dividend from Associates & JVs)	7.90	9.13
	Interest Income received	41.52	34.83
	(Purchase) / Sale of Current Investments (net)	(157.69)	152.80
	Fixed deposits Placed	(719.81)	(1158.02)
	Fixed Deposits Redeemed	1085.25	843.50
	Inter Corporate Deposits and Loans Placed (including FX)	(756.67)	(132.68)
	Inter Corporate Deposits and Loans Redeemed (including FX)	562.75	81.75
	Net cash from /(used in) Investing Activities	24.64	(466.46)
C.	Cash Flow from Financing Activities
	Proceeds from / (Repayment of) Long term borrowings (net)	(32.89)	(465.42)
	Proceeds from / (Repayment of) Short term borrowings (net)	12.74	(0.73)
	Payment of Lease Liabilities	(27.14)	(26.07)
	Dividend paid	(573.23)	(398.45)
	Finance Cost paid	(28.42)	(33.17)
	Refund of Dividend Distribution Tax paid in an earlier year	-	13.38
	Net Cash from / (used in) Financing Activities	(648.94)	(910.46)
	Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)	(328.15)	(834.10)
	Opening balance of Cash and Cash Equivalent	977.11	1773.18
	Exchange Gain/ (Loss) on translation of foreign currency Cash and Cash equivalents	(31.49)	6.89
	Closing Cash and Cash Equivalent	617.47	945.97
	Reconciliation with Balance Sheet
	Cash and Cash Equivalents	617.47	945.97
	Add : Bank Overdraft	388.14	268.76
	Balance at the end of the period	1005.61	1214.73

Tata Consumer Products 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, 2022

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
	2022	2022	2021	2022	2021	2022
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from Operations	2130.78	2076.88	1987.50	4207.66	3953.39	7932.29
Other Income	24.09	53.90	31.05	77.99	177.28	238.96
Total Income	2154.87	2130.78	2018.55	4285.65	4130.67	8171.25
Cost of materials consumed	791.57	747.94	826.54	1539.51	1713.39	3195.72
Purchase of stock-in-trade	551.73	551.55	403.04	1103.28	819.98	1701.63
Changes in inventories of finished goods, work-in-progress & stock-in-trade	(49.10)	(10.26)	19.05	(59.36)	(1.06)	46.40
Employees benefits expense	95.65	97.86	88.87	193.51	177.23	348.41
Finance costs	7.30	7.14	7.65	14.44	15.31	29.78
Depreciation and amortisation expense	36.19	35.09	36.09	71.28	70.97	141.75
Advertisement and sales charges	144.27	127.48	132.90	271.75	219.04	511.25
Other expenses	260.62	255.48	248.39	516.10	482.18	1017.99
Total Expenses	1838.23	1812.28	1762.53	3650.51	3497.04	6992.93
Profit before Exceptional Items and Tax	316.64	318.50	256.02	635.14	633.63	1178.32
Exceptional Items (Net)	(6.95)	(11.10)	(7.19)	(18.05)	(7.19)	(27.23)
Profit before Tax	309.69	307.40	248.83	617.09	626.44	1151.09
Tax Expense
Current Tax	(67.37)	(61.82)	(30.64)	(129.19)	(73.08)	(130.09)
Deferred Tax	(12.80)	(12.75)	(29.85)	(25.55)	(61.28)	(135.25)
Total Tax Expense ( net of reversals)	(80.17)	(74.57)	(60.49)	(154.74)	(134.36)	(265.34)
Net Profit after Tax (A)	229.52	232.83	188.34	462.35	492.08	885.75
Other Comprehensive Income
i) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans	(0.22)	9.91	0.81	9.69	(3.93)	30.15
Changes in fair valuation of equity instruments	14.19	(0.26)	3.48	13.93	4.87	4.98
	13.97	9.65	4.29	23.62	0.94	35.13
Tax impact of above items	(1.56)	(2.46)	(1.05)	(4.02)	0.14	(9.06)
	12.41	7.19	3.24	19.60	1.08	26.07
ii) Items that will be reclassified to profit or loss
Gains/(loss) on effective portion of cash flow hedges	(0.54)	(0.22)	1.55	(0.76)	1.50	(1.65)
Tax impact of above item	0.13	0.06	(0.39)	0.19	(0.38)	0.41
	(0.41)	(0.16)	1.16	(0.57)	1.12	(1.24)
Other Comprehensive Income (Net of tax) (B)	12.00	7.03	4.40	19.03	2.20	24.83
Total Comprehensive Income (A+B)	241.52	239.86	192.74	481.38	494.28	910.58
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						11647.89
Earnings per Shares ( not annualised for the quarter and year to date ended)
Basic - Rs	2.49	2.53	2.04	5.02	5.34	9.61
Diluted - Rs	2.49	2.53	2.04	5.02	5.34	9.61

Notes:

1. For the quarter, Revenue from operations at Rs 2131 Crores increased by 7% over corresponding quarter of the previous year driven by growth in branded business. Profit before tax at Rs 310 Crores is higher by 24% as compared to corresponding quarter of previous year on account of revenue growth and improved gross margin. Consequently, Profit after tax is also higher over the corresponding quarter of previous year.

2. The Board of Directors of the Company in its meeting held on March 29, 2022, have approved the composite scheme of arrangement (the Scheme), amongst the Company and its subsidiaries, Tata Coffee Limited (TCL) and TCPL Beverages & Foods Limited (TBFL), in terms of Section 230-232 and other applicable provisions of Companies Act, 2013. The Scheme inter alia provides for the demerger of the Plantation Business (as defined in the Scheme) of TCL into TBFL and as consideration, issue equity shares of the Company to all the shareholders of TCL (other than to itself) in accordance with the Share Entitlement Ratio mentioned in the Scheme. This would be followed immediately by the amalgamation of the TCL comprising of the Remaining Business (as defined in the Scheme) with the Company and as consideration, issue equity shares of the Company to all the shareholders of TCL (other than to itself) in accordance with the Share Exchange Ratio mentioned in the Scheme.

3. Exceptional items for the current quarter represent costs relating to the business restructure and reorganisation of Rs 6 Crores and cost pertaining to Scheme of arrangement of Rs 1 Crore.

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

6. The aforementioned results were reviewed by the Audit Committee of the Board on October 19, 2022 and subsequently taken on record by the Board of Directors at its meeting held on October 20, 2022. The Statutory Auditors of the Company have conducted limited review on these results.

Sunil D'Souza

Managing Director and CEO

Mumbai: October 20, 2022

Tata Consumer Products 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, 2022

Rs. In Crores

	September 30 2022	March 31 2022
	Unaudited	Audited
ASSETS
Non-Current Assets
Property, Plant and Equipment	293.56	296.93
Capital work-in-progress	4.39	2.58
Right of Use Assets	209.82	210.97
Goodwill	3578.51	3578.51
Other Intangible Assets	2483.30	2477.64
Intangible Assets under development	7.54	37.18
Financial Assets
Investments	3519.02	3368.76
Loans	14.77	13.80
Other Financial Assets	108.47	104.44
Non-Current Tax Assets (Net)	119.20	121.97
Other Non-Current Assets	89.91	86.27
	10428.49	10299.05
Current assets
Inventories	1412.42	1271.94
Financial Assets
Investments	253.73	156.94
Trade Receivables	379.98	281.76
Cash and Cash Equivalents	117.86	327.40
Other Bank Balances	630.82	1001.21
Loans	620.72	559.70
Other Financial Assets	39.58	48.75
Other Current Assets	266.08	279.46
	3721.19	3927.16
TOTAL ASSETS	14149.68	14226.21
EQUITY AND LIABILITIES
Equity
Equity Share Capital	92.16	92.16
Other Equity	11595.35	11669.75
TOTAL EQUITY	11687.51	11761.91
Non-Current Liabilities
Financial Liabilities
Lease Liability	205.38	205.19
Other Financial Liabilities	80.38	76.91
Provisions	132.67	135.32
Deferred Tax Liabilities	540.60	511.22
	959.03	928.64
Current Liabilities
Financial Liabilities
Lease Liability	31.25	29.71
Trade Payables
Total outstanding dues of Micro enterprises and Small enterprises	25.25	29.64
Total outstanding dues of creditors other than Micro enterprises and Small enterprises	1251.47	1234.10
Other Financial Liabilities	55.59	77.68
Other Current Liabilities	71.50	96.66
Provisions	62.95	62.74
Current Tax Liabilities (Net)	5.13	5.13
	1503.14	1535.66
TOTAL EQUITY AND LIABILITIES	14149.68	14226.21

Tata Consumer Products 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, 2022

Rs. In Crores

	Particulars	September 30, 2022	September 30, 2021
A.	Cash Flow from Operating Activities
	Net Profit before Tax	617.09	626.44
	Adjusted for :
	Depreciation and Amortisation	71.28	70.97
	Dividend Income	(34.84)	(130.80)
	Unrealised Exchange (Gain) / Loss	(0.62)	(0.08)
	Finance Cost	14.44	15.31
	Fair value movement in Financial instruments at fair value through profit and loss	1.19	(4.41)
	Interest Income	(38.91)	(37.80)
	Profit on sale of current investments (net)	(5.40)	(4.14)
	Impairment loss recognised in trade receivables & advances (net of reversal)	1.37	-
	(Profit) / Loss on sale of Property, Plant & Equipment including Investment Property (net)	0.08	0.51
	Exceptional Items	18.05	7.19
	Operating Profit before working capital changes	643.73	543.19
	Adjustments for:
	Trade Receivables & Other Assets	(80.60)	(20.76)
	Inventories	(140.48)	78.70
	Trade payables & Other Liabilities	(47.75)	(111.69)
	Cash generated from Operations	374.90	489.44
	Direct Taxes paid (net)	(126.42)	(76.22)
	Net Cash from/(used in) Operating Activities	248.48	413.22
B.	Cash Flow from Investing Activities
	Payment for Property, Plant and Equipment and Intangibles	(31.80)	(41.29)
	Sale of Property, Plant and Equipment	0.27	0.33
	Investment in Associate	(50.00)	(150.00)
	Acquisition of a Joint Ventures	-	(61.00)
	Investment in Subsidiary	(87.52)	-
	Dividend Income received	34.84	130.80
	Interest Income received	38.57	29.47
	(Purchase) / Sale of Current Investments (net)	(91.39)	153.64
	Fixed deposits Placed	(584.07)	(981.99)
	Fixed Deposits Redeemed	957.01	675.69
	Inter Corporate Deposits and Loans Placed	(619.00)	(85.00)
	Inter Corporate Deposits and Loans Redeemed	557.50	1.75
	Net cash from / (used in) Investing Activities	124.41	(327.60)
C.	Cash Flow from Financing Activities
	Payment of Lease Liabilities	(15.05)	(15.52)
	Dividend paid	(557.54)	(373.23)
	Finance Cost paid	(9.84)	(10.58)
	Refund of Dividend Distribution Tax paid in an earlier year	-	13.38
	Net Cash from / (used in) Financing Activities	(582.43)	(385.95)
	Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)	(209.54)	(300.33)
	Opening balance of Cash & Cash equivalent	327.40	644.74
	Closing Cash & Cash Equivalent	117.86	344.41

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