RNS Number : 5693X
Tata Consumer Products Limited
26 April 2023
 

Tata Consumer Products 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, 2023

  Rs. in Crores

Particulars

Three months ended

Year ended

March 31, 2023

December 31, 2022

March 31, 2022

March 31, 2023

March 31, 2022

Refer Note 7

Unaudited

Refer Note 7

Audited

Audited

 Revenue from Operations

3618.73

3474.55

3175.41

13783.16

12425.37

 Other Income

              55.30

48.93

47.39

168.88

140.06

 Total Income

3674.03

3523.48

3222.80

13952.04

12565.43

 Cost of Materials Consumed

1338.31

1350.50

1201.12

5376.56

4908.36

 Purchase of stock in trade

            826.57

705.50

635.92

2903.03

2215.39

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

            (59.48)

(23.98)

(78.35)

(273.88)

(39.78)

 Employee Benefits Expense

            286.07

283.02

268.04

1120.36

1048.00

 Finance Costs

              27.66

23.68

16.41

87.16

72.78

 Depreciation and Amortisation Expense

              82.86

75.16

72.11

304.08

278.01

 Advertisement and Sales charges

1338.31

1350.50

1201.12

5376.56

4908.36

 Other Expenses

            715.59

705.85

704.35

2800.62

2574.62

 Total Expenses

3217.58

3119.73

2819.60

12317.93

11057.38

 Profit before Exceptional Items and Tax

            456.45

403.75

403.20

1634.11

1508.05

 Exceptional Items (Net)

              (6.37)

78.57

(18.65)

159.45

(52.06)

 Profit before Tax

            450.08

482.32

384.55

1793.56

1455.99

 Tax Expense

 



 


     Current tax

            (89.21)

(96.11)

(46.10)

(376.76)

(220.24)

     Deferred tax

            (15.29)

(16.76)

(49.22)

(70.28)

(156.80)

 Total Tax Expense (Net)

          (104.50)

(112.87)

(95.32)

(447.04)

(377.04)

 Net Profit after Tax

            345.58

369.45

289.23

1346.52

1078.95

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

            (56.02)

(5.02)

(50.18)

(26.38)

(63.79)

 Group Consolidated Net Profit (A)

            289.56

364.43

239.05

1320.14

1015.16

 Attributable to :

 



 


     Owners of the Parent

            268.59

351.76

217.54

1203.77

935.78

    Non Controlling Interest

              20.97

12.67

21.51

116.37

79.38

 Other Comprehensive Income

 



 


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

 


 


        Remeasurement of the defined benefit plans

            (16.81)

              (33.82)

40.38

          (104.68)

               55.91

        Changes in fair valuation of equity instruments

              (4.75)

                 2.86

(0.02)

              12.04

                 4.67

  

            (21.56)

              (30.96)

               40.36

            (92.64)

               60.58

 Tax impact on above items

                6.27

                 7.37

(8.27)

              23.63

              (25.61)

  

            (15.29)

(23.59)

32.09

            (69.01)

               34.97

 ii) Items that will be reclassified to profit or loss (Net of Tax)

 



 


        Exchange differences on translation of foreign operations

              51.99

              385.91

13.05

            172.79

               12.74

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

              13.26

              (26.01)

(31.17)

            (28.22)

               10.63

  

              65.25

359.90

(18.12)

            144.57

               23.37

 Tax impact on above items

              (3.97)

                 9.35

13.80

                8.12

                 0.90

  

              61.28

369.25

(4.32)

            152.69

               24.27

 Total Other Comprehensive Income, Net of Tax (B)

              45.99

345.66

27.77

              83.68

               59.24

 Attributable to :

 



 


        Owners of the Parent

              (2.79)

              368.62

28.38

              88.72

               50.78

        Non Controlling Interest

              48.78

              (22.96)

(0.61)

              (5.04)

                 8.46

 Total Comprehensive Income (A+B)

            335.55

710.09

266.82

1403.82

1074.40

 Attributable to :

 



 


        Owners of the Parent

            265.80

              720.38

245.92

1292.49

986.56

        Non Controlling Interest

              69.75

              (10.29)

20.90

111.33

87.84

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

92.90

92.90

92.16

92.90

               92.16

 Reserves excluding Revaluation Reserve

 



16161.95

15027.92

 Earnings per share (not annualised for the quarter)

 



 


Basic - Rs

2.89

3.79

2.36

13.02

10.15

Diluted - Rs

2.89

3.79

2.36

13.02

10.15

 

Notes:

1.   For the quarter, Revenue from operations increased by 14% (12% in constant currency) as compared to corresponding quarter of the previous year, mainly driven by underlying growth of 15% in India Business, 6% in International Business and 9% in Non-Branded Business. Profit before exceptional items and tax at Rs 456 Crores is 13% higher as compared to corresponding quarter of the previous year reflecting strong growth in the India branded business and stable performance in International and Non-branded business. After considering exceptional items, Group Consolidated Net Profit at Rs 290 Crores is higher by 21%.

 

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 year ended March 31, 2023.

 

3.   The Group has acquired 50% stake of the Joint Venture partner's in Tetley ACI (Bangladesh) Limited, consequently converting the Joint Venture into a wholly owned subsidiary with effect from February 9, 2023.

 

4.   Exceptional items for the current quarter represent costs relating to the business restructure & reorganisation of Rs 14 Crores, gain of Rs 6 Crores, based on fair valuation, arising out of the acquiring control of an overseas joint venture (Refer Note 3 above) and other exceptional income of Rs 2 Crores. Exceptional item for the corresponding quarter of the previous year mainly represent costs relating to the business restructure and reorganisation of Rs 15 Crores and cost relating to the proposed scheme of arrangement of Rs 4 Crores.

 

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.   The Consolidated Statement of Assets and Liabilities as at March 31, 2023 and Consolidated Cash Flow Statement for the year ended March 31, 2023 is annexed.

 

7.   Figures of the quarter ended March 31, 2023 and March 31, 2022 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.

 

8.   The Board of Directors has recommended a dividend payment of Rs 8.45 per share (Face value Re. 1 each) for the year ended March 31, 2023.

 

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

 

10.  The aforementioned results were reviewed by the Audit Committee of the Board on April 24, 2023 and subsequently taken on record by the Board of Directors at its Meeting held on April 25, 2023. The Statutory Auditors of the Company have audited the annual results.

 

11.  The Consolidated and Standalone result for the quarter and year ended March 31, 2023 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).

 


               Sd/-

Sunil D'Souza

                                                                                                                                                                        Managing Director and CEO

Mumbai: April 25, 2023



Tata Consumer Products 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, 2023

   Rs. in Crores

Particulars

  Three months ended

  Year ended

March 31, 2023

December 31, 2022

March 31, 2022

March 31, 2023

 March 31, 2022

Refer Note 7

Unaudited

Refer Note 7

Audited

Audited

 Segment Revenue

 

 

 



 Branded Business

 

 

 



       India Business

2246.49

2165.34

1953.66

8716.98

7913.54

       International Business

            984.05

929.93

890.19

3589.47

3335.66

 Total Branded Business

3230.54

3095.27

2843.85

12306.45

11249.20

 Non Branded Business

            385.27

391.30

344.64

1500.07

1214.44

Total Segment Revenue

3615.81

3486.57

3188.49

13806.52

12463.64

Others

              16.78

10.78

0.27

48.68

13.78

Less: Inter segment Sales

            (13.86)

(22.80)

(13.35)

(72.04)

(52.05)

Revenue from Operations

3618.73

3474.55

3175.41

13783.16

12425.37

Segment Results

 



 


 Branded Business

 



 


       India Business

            311.62

300.40

257.53

1192.85

1011.67

       International Business

            127.22

88.42

128.47

379.81

478.37

 Total Branded Business

            438.84

388.82

386.00

1572.66

1490.04

 Non Branded Business

              25.85

27.18

29.31

122.42

92.65

 Total Segment Results

            464.69

416.00

415.31

1695.08

1582.69

 Add/Less

 



 


   Other Income

              48.60

44.28

33.75

151.42

109.94

   Finance Cost

            (27.66)

(23.68)

(16.41)

(87.16)

(72.78)

   Unallocable items

            (29.18)

(32.85)

(29.45)

(125.23)

(111.80)

   Exceptional Items

              (6.37)

78.57

(18.65)

159.45

(52.06)

 Profit Before Tax

            450.08

482.32

384.55

1793.56

1455.99

Segment Assets

 



 


 Branded Business

 



 


       India Business

9305.33

9600.51

9099.75

9305.33

9099.75

       International Business

6070.66

6092.08

5384.58

6070.66

5384.58

 Total Branded Business

15375.99

15692.59

14484.33

15375.99

14484.33

 Non Branded Business

1880.04

1776.42

1752.27

1880.04

1752.27

 Total Segment Assets

17256.03

17469.01

16236.60

17256.03

16236.60

 Unallocable Corporate Assets

5555.10

4362.58

4880.99

5555.10

4880.99

 Total Assets

22811.13

21831.59

21117.59

22811.13

21117.59

 Segment Liabilities

 



 


 Branded Business

 



 


       India Business

2058.79

1922.02

1756.03

2058.79

1756.03

       International Business

947.29

831.43

785.88

947.29

785.88

 Total Branded Business

3006.08

2753.45

2541.91

3006.08

2541.91

 Non Branded Business

210.45

188.83

178.91

210.45

178.91

 Total Segment Liabilities

3216.53

2942.28

2720.82

3216.53

2720.82

 Unallocable Corporate Liabilities

2467.72

2095.08

2103.21

2467.72

2103.21

 Total Liabilities

5684.25

5037.36

4824.03

5684.25

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

Audited Consolidated Statement of Assets and Liabilities as at March 31, 2023

Rs in Crores

 

March 31, 2023

March 31, 2022

 ASSETS

 


Non-Current Assets

 


Property Plant and Equipment

1604.68

1480.31

Capital Work in Progress

286.10

209.44

Investment Property

                      -  

17.31

Investment Property under Development

              214.78

                214.78

Right of Use Assets

384.04

378.44

Goodwill

8025.38

7754.11

Other Intangible Assets

2841.16

2754.40

Intangible Assets under Development

8.80

37.53

Investments accounted for using Equity method

292.66

234.31

Financial Assets

 


Investments

385.57

364.94

Loans

12.52

14.01

Other Financial Assets

42.80

35.69

Deferred Tax Assets (Net)

48.64

42.72

Non-current Tax Assets (Net)

160.30

141.66

Other Non Current Assets

195.12

302.26


14502.55

13981.91


 


Current Assets

 

 

Inventories

2701.67

2266.51

Financial Assets

 

 

Investments

754.74

198.03

Trade Receivables

798.33

835.15

Cash and Cash Equivalent

1539.56

1497.97

Other Bank balances

1257.38

1101.92

Loans

529.72

659.94

Other Financial Assets

192.86

184.30

Current Tax Assets (net)

20.83

1.33

Other Current Assets

513.49

390.53


8308.58

7135.68

TOTAL ASSETS

22811.13

21117.59

EQUITY AND LIABILITIES

 


Equity

 


Equity Share Capital

92.90

92.16

Other Equity

16183.81

15049.78

Equity attributable to the equity holders of the company

16276.71

15141.94

Non Controlling Interest

850.17

1151.62

Total Equity

17126.88

16293.56

Non-Current Liabilities

 

 

Financial Liabilities

 

 

Borrowings

206.12

241.87

Lease Liability

362.21

350.91

Other Financial Liabilities

160.71

93.14

Provisions

167.49

175.59

Deferred Tax Liabilities (Net)

863.04

776.41

Non Current Tax Liabilities

                      -  

13.49

 

1759.57

1651.41

Current Liabilities

 

 

Financial Liabilities

 

 

Borrowings

976.70

768.72

Lease Liability

55.01

50.51

Trade Payables

2348.18

1915.85

Other Financial Liabilities

227.98

211.78

Other Current Liabilities

173.49

132.15

Provisions

77.40

73.21

Current Tax Liabilities (net)

65.92

20.40

 

3924.68

3172.62

TOTAL EQUITY AND LIABILITIES

22811.13

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

Audited Consolidated Statement of Cash Flows for the year ended March 31, 2023

Rs. In Crores

 Particulars

March 31, 2023

March 31, 2022

A.    Cash Flow from Operating Activities



 Net Profit before Tax

1793.56

1455.99

   Adjusted  for  :

 

 

 Depreciation and amortisation

304.08

278.01

 Finance Cost

87.16

72.78

 Dividend Income

(2.58)

(2.12)

 Profit on sale of current investments (net)

(17.55)

(8.94)

 Fair value movement in Financial instruments at fair value through profit and loss

(6.65)

(13.49)

 Interest Income

(124.65)

(85.39)

 Unrealised foreign exchange (gain) / loss

-

(0.51)

 Impairment loss recognised in trade receivables and advances (net of reversal)

0.42

1.23

 Share based payment to employees

4.04

0.46

 (Profit) / Loss on sale of Property, Plant & Equipment including investment property (net)

(0.05)

1.61

Deferred Revenue

(2.16)

-

 Rental Income from Investment Property

(0.80)

(2.42)

Exceptional Items -



Gain on conversion of a Joint Venture into a Subsidiary

(93.15)


Profit on sale of Investment Property

(147.54)

-

Other Exceptional Items

81.24

52.06

 Operating Profit before working capital changes

1875.37

1749.27

 Adjustments for:

 


      Trade Receivables & Other Assets

(36.06)

(148.78)

      Inventories

(367.98)

(0.91)

Trade payables & Other Liabilities

378.61

151.50

Cash generated from /(used in) operations

1849.94

1751.08

      Direct taxes paid

(388.65)

(235.27)

 Net Cash from Operating Activities

1461.29

1515.81

B.   Cash Flow from Investing Activities



Payment for Property, Plant and Equipment including Intangibles

(311.75)

(273.34)

Sale of Property, Plant and Equipment

171.85

27.26

Rental Income from Investment Property

0.80

2.42

Sale of Non Current Investments carried at Fair value through OCI

3.80

1.20

Acquisition of Subsidiaries

(52.19)

(465.00)

Investments in Joint Ventures

(100.00)

(86.00)

Investments in Associate

(50.00)

(150.00)

Purchase of additional stake in a Subsidiary

(2.88)

(46.45)

Deferred consideration pertaining to disposal of a Subsidiary

9.33

11.30

Dividend Income received (including dividend from Associates and Joint Ventures)

12.72

12.84

Interest Income received

108.67

75.21

(Purchase) / Sale of Current Investments (net)

(436.37)

135.27

Purchase of Government securities

(96.14)

-

Fixed Deposits Placed

(1797.18)

(2008.56)

Fixed Deposits Redeemed

1641.72

1940.76

Inter Corporate Deposits and Loans Placed (including FX)

(1083.70)

(731.50)

Inter Corporate Deposits and Loans Redeemed (including FX)

1153.50

232.75

Net Cash from/(used in) Investing Activities

(827.82)

(1321.84)

C.   Cash Flow from Financing Activities



Repayment of Long term borrowings

(56.32)

(493.00)

Proceeds from / (Repayment of) Short term borrowings (net)

52.55

(1.71)

Payment of Lease Liabilities

(55.55)

(52.78)

Dividend paid

(573.42)

(398.19)

Finance Cost paid

(81.66)

(62.51)

Refund of Dividend Distribution Tax paid in an earlier year

-

13.42

Net Cash from/(used in) Financing Activities

(714.40)

(994.77)

 Net increase/ (decrease)  in Cash and Cash Equivalents  (A+B+C)

(80.93)

(800.80)

Opening balance of Cash & Cash Equivalent

977.11

1773.18

Cash and Cash Equivalents of the acquired companies

2.92

0.90

Exchange Gain/ (Loss) on translation of foreign currency cash/cash equivalents

(8.71)

3.83

 Closing Cash & Cash Equivalent

890.39

977.11

 Reconciliation with Balance Sheet



      Cash  and  Cash  Equivalents

890.39

977.11

      Add : Bank Overdraft

649.17

520.86

 Balance at the end of the year

1539.56

1497.97

 

Tata Consumer Products 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, 2023

Rs. in Crores

Particulars

Three months ended

Year ended


March 31, 2023

December 31, 2022

March 31, 2022

March 31, 2023

March 31, 2022


Refer Note 5

Unaudited

Refer Note 5

Audited

Audited

Revenue from Operations

2177.85

2153.31

1948.42

8538.82

7932.29

Other Income

37.39

43.42

37.88

158.80

238.96

Total Income

2215.24

2196.73

1986.30

8697.62

8171.25

Cost of materials consumed

765.13

779.59

735.95

3084.23

3195.72

Purchase of stock-in-trade

567.90

602.03

441.18

2273.21

1701.63

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

3.58

              (66.49)

              (10.18)

          (122.27)

46.40

Employees benefits expense

99.74

100.77

80.27

394.02

348.41

Finance costs

7.59

7.33

7.19

29.36

29.78

Depreciation and amortisation expense

38.07

36.55

35.05

145.90

141.75

Other expenses

389.55

409.32

413.58

1586.72

1529.24

Total Expenses

1871.56

1869.10

1703.04

7391.17

6992.93

Profit before Exceptional Items and Tax

343.68

327.63

283.26

1306.45

1178.32

Exceptional Items (Net)

             (13.03)

                (8.00)

              (10.63)

            (39.08)

             (27.23)

Profit before Tax

330.65

319.63

272.63

1267.37

1151.09

Tax Expense

 



 


      Current Tax

             (59.81)

              (68.75)

              (28.70)

          (257.75)

           (130.09)

    Deferred Tax

             (20.38)

              (13.62)

              (37.74)

           (135.25)

Total Tax Expense (net of reversals)

             (80.19)

              (82.37)

              (66.44)

          (317.30)

           (265.34)

 Net Profit after Tax (A)

250.46

237.26

206.19

950.07

885.75

Other Comprehensive Income

 



 


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

 



 


     Remeasurement of defined benefit plans

8.27

0.43

31.46

18.39

30.15

     Changes in fair valuation of equity instruments

               (4.74)

2.86

0.29

12.05

4.98


3.53

3.29

31.75

30.44

35.13

Tax impact of above items

               (2.19)

                (0.45)

                (8.51)

              (6.66)

               (9.06)


1.34

2.84

23.24

23.78

26.07

ii) Items that will be reclassified to profit or loss

 



 


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

1.65

                (0.63)

                (2.54)

0.26

               (1.65)

Tax impact of above item

               (0.41)

0.16

0.63

              (0.06)

0.41


1.24

                (0.47)

                (1.91)

0.20

               (1.24)

Other Comprehensive Income (B)

2.58

2.37

21.33

23.98

24.83

Total Comprehensive Income (A+B)

253.04

239.63

227.52

974.05

910.58

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

92.90

92.90

92.16

92.90

92.16

Reserves excluding Revaluation Reserves

 



12638.50

11647.89

Earnings per Shares ( not annualised for the quarter)

 



 


Basic - Rs

2.70

2.56

2.24

10.27

9.61

Diluted - Rs

2.70

2.56

2.24

10.27

9.61

 



Notes

1.    For the quarter, Revenue from operations at Rs 2178 Crores increased by 12% over corresponding quarter of the previous year driven by growth in branded business. Profit before tax at Rs 331 Crores is higher by 21% as compared to corresponding quarter of previous year reflecting strong growth in the branded business. Consequently, Profit after tax is also higher by 21% 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.

 

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 year ended March 31, 2023.

 

3.    Exceptional item for the current quarter primarily represents costs relating to business restructure and reorganisation of Rs 13 Crores. Exceptional item for the corresponding quarter of previous year represent costs relating to the business restructure and reorganisation of Rs 8 crores and cost pertaining to Scheme of arrangement of Rs 3 crs.

 

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, 2023 and March 31, 2022 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, 2023 and Cash flow Statement for the year ended March 31, 2023 is annexed.

 

7.    The Board of Directors has recommended a dividend payment of Rs 8.45 per share (Face value Re. 1 each) for the year ended March 31, 2023.

 

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 April 24, 2023 and subsequently taken on record by the Board of Directors at its meeting held on April 25, 2023. The Statutory Auditors of the Company have audited the annual results.                                                                                                                    


 

                Sunil D'Souza

Managing Director and CEO

Mumbai: April 25, 2023



 

Tata Consumer Products 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, 2023

      Rs. In Crores

 

 

March 31, 2023

March 31, 2022

ASSETS

 

 

Non-Current Assets

 

 

Property, Plant and Equipment

302.12

296.93

Capital work-in-progress

13.89

2.58

Right of Use Assets

205.70

210.97

Goodwill

3578.51

3578.51

Other Intangible Assets

2463.22

2477.64

Intangible Assets under development

8.45

37.18

Financial Assets

 


Investments

4184.25

3368.76

Loans

12.36

13.80

Other Financial Assets

114.78

104.44

Non-Current Tax Assets (Net)

130.63

121.97

Other Non-Current Assets

89.04

86.27


11102.95

10299.05

Current assets

 


Inventories

1400.60

1271.94

Financial Assets

 


Investments

651.39

156.94

Trade Receivables

341.65

281.76

Cash and Cash Equivalents

177.53

327.40

Other Bank Balances

1070.25

1001.21

Loans

430.56

559.70

Other Financial Assets

77.29

48.75

 Other Current Assets

340.32

279.46


4489.59

3927.16

TOTAL ASSETS

15592.54

14226.21

EQUITY AND LIABILITIES

 


Equity

 


Equity Share Capital

92.90

92.16

Other Equity

12660.36

11669.75

TOTAL EQUITY

12753.26

11761.91

Non-Current Liabilities

 


Financial Liabilities

 


       Lease Liability

201.45

205.19

      Other Financial Liability

84.21

76.91

Provisions

130.11

135.32

Deferred Tax Liabilities

575.38

511.22


991.15

928.64

Current Liabilities

 


Financial Liabilities

 


Borrowings

39.50

                        -  

Lease Liability

35.66

29.71

Trade Payables

 


Total outstanding dues of Micro enterprises and Small enterprises

20.87

29.64

Total outstanding dues of creditors other than Micro enterprises and Small enterprises

1497.30

1234.10

Other Financial Liabilities

74.24

77.68

Other Current Liabilities

95.81

96.66

Provisions

56.82

62.74

Current Tax Liabilities (Net)

27.93

5.13


1848.13

1535.66

TOTAL EQUITY AND LIABILITIES

15592.54

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

Audited Statement of Cash Flows for the year ended March 31, 2023

Rs. In Crores

Particulars

March 31, 2023

March 31, 2022

A.        Cash  Flow  from  Operating  Activities



 Net Profit before Tax

1267.37

1151.09

 Adjusted  for  :

 

 

Depreciation and Amortisation

145.90

141.75

Finance Cost

29.36

29.78

Dividend Income

(51.32)

(145.97)

Profit on sale of Current Investments (net)

(19.18)

(7.39)

Fair value movement in Financial instruments at fair value through profit and loss

3.96

(13.49)

Interest Income

(90.51)

(71.95)

Unrealised foreign exchange (gain) / loss

(0.16)

(0.03)

Share based payment to employees

3.66

0.46

(Profit) / Loss on sale of Property, Plant & Equipment (net)

(1.70)

3.27

Exceptional Items

39.08

27.23

Operating Profit before working capital changes

1326.46

1114.75

 Adjustments for:

 


    Trade Receivables & Other Assets

(149.26)

(60.59)

 Inventories

(128.66)

136.43

 Trade payables & Other Liabilities

216.45

110.83

 Cash generated from Operations

1264.99

1301.42

 Direct Taxes paid (net)

(245.72)

(143.10)

 Net  Cash  from/(used in)  Operating  Activities

1019.27

1158.32

B.   Cash  Flow  from  Investing  Activities

 

 

Payment for  Property, Plant and Equipment and Intangibles

(85.99)

(93.25)

Sale of Property, Plant and Equipment

3.62

4.40

Sale of Non Current Investments carried at Fair value through OCI

3.80

1.05

Acquisition of Subsidiaries

-

(465.00)

Investment in Joint Venture

(100.00)

(86.00)

Investment in Associate

(50.00)

(150.00)

Investment in Subsidiaries

(90.39)

(45.13)

Dividend Income received

51.32

145.97

Interest Income received

81.11

64.35

(Purchase) / Sale of Current Investments (net)

(379.13)

138.22

Purchase of Government securities

(96.14)

-

Fixed Deposits Placed

(1278.04)

(1557.40)

Fixed Deposits Redeemed

1209.00

1526.48

Inter Corporate Deposits and Loans Placed

(1004.00)

(728.75)

Inter Corporate Deposits and Loans Redeemed

1133.50

180.75

Net  cash from / (used in) Investing  Activities

(601.34)

(1064.31)

C.   Cash  Flow  from  Financing  Activities

 


Proceeds from / (Repayment of) Short term borrowings (net)

39.50

-

Payment of Lease Liabilities

(30.05)

(31.21)

Dividend paid

(557.54)

(373.23)

Finance Cost paid

(19.71)

(20.33)

Refund of Dividend Distribution Tax paid in an earlier year

-

13.42

 Net Cash from / (used in) Financing  Activities

(567.80)

(411.35)

 Net increase / (decrease) in  Cash and Cash Equivalents  (A+B+C)

(149.87)

(317.34)

 Opening balance of Cash & Cash equivalent

327.40

644.74

 Closing Cash & Cash Equivalent

177.53

327.40

 

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