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Our businesses > Tata companies > Tata Global Beverages > Media releases |
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June 16, 2000
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Tata Tea Limited
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Audited results for theyear ended 31st March 2000
| Sr. no |
Particulars |
Year ended 31 Mar 2000
Rs. crore |
Year ended
31 Mar 1999
Rs. crore |
| 1 |
Income from operations |
922.12 |
884.71 |
| 2 |
Other income |
48.06 |
16.48 |
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| 3 |
Total income |
970.18 |
901.19 |
| 4 |
Total expenditure |
768.85 |
680.69 |
| a. |
(Increase)/Decrease in stock |
3.61 |
(31.70) |
| b. |
Consumption of raw materials |
209.40 |
175.54 |
| c. |
Staff cost |
209.53 |
179.74 |
| d. |
Other expenditure |
346.31 |
357.11 |
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| 5 |
Profit before interest and depreciation |
201.33 |
220.50 |
| 6 |
Interest |
17.61 |
18.07 |
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| 7 |
Profit after interest but before depreciation |
183.72 |
202.43 |
| 8 |
Depreciation |
18.65 |
17.67 |
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| 9 |
Profit before tax |
165.07 |
184.76 |
| 10 |
Provision for taxation |
40.50 |
56.00 |
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| 11 |
Profit after tax |
124.57 |
128.76 |
| 12 |
Transfer from development allowance reserve |
0.06 |
0.05 |
| 13 |
Net profit available for the year |
124.63 |
128.81 |
| 14 |
Balance in profit and loss account brought forward |
30.92 |
11.48 |
| 15 |
Amount available for appropriation |
155.55 |
140.29 |
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Appropriations |
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Dividend |
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- Interim |
49.57 |
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- Final |
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53.48 |
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Income tax on dividend |
5.45 |
5.89 |
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General reserve |
50.00 |
50.00 |
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Balance carried forward |
50.53 |
30.92 |
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155.55 |
140.29 |
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Paid up equity share capital |
56.22 |
48.62 |
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Reserves, excluding revaluation reserve |
774.02 |
399.79 |
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Earnings per share |
Rs. 25.38 |
Rs. 26.48 |
Notes
- The entire north India tea growing regions were affected by a severe drought.The company's total productions declined by 3 per cent. However, despite a 65 million kgs shortfall in all-india production, the tea prices, particularly in south India, continued to prevail below last year's levels. There has also been increase in the cost of inputs and in staff costs arising out of industry-wide wage settlement. All these factors had an adverse impact on the company's results.
- Other income includes profit on sale of investments and higher dividend received from a subsidiary company.
- The directors have already declared and paid an interim dividend of 101 per cent for the year 1999-2000 and no final dividend has now been recommended.
- The company has achieved a smooth Y2K transition at a cost of Rs. 90 lakh.
- In March 2000 the company acquired, through a subsidiary company, the entire shareholding of the Tetley Group Ltd., UK, which has made the company a significant player in the global tea industry.To finance this large acquisition the company issued 7,598,000 Global Depository Shares (GDS) at a price of US$9.87 per GDS (approximately Rs. 428) which was fully subscribed. As a result of this issue the equity share capital of the company has increased from Rs. 48.62 crore to Rs. 56.22 crore on March 10, 2000.
- The above results were taken on record by the board of directors at its meeting held on June 16, 2000.
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Place: Mumbai
Dated: 16 June 2000 |
For and on behalf of the board of directors
Ratan Tata
Chairman |
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