| (Rs/Crore) |
|
Year
ended
31st March, 2004 |
Previous
Year ended
31st March, 2003 |
| Income
from Operations |
3085.74 |
2951.76 |
| Income
from Investments (net)/Other Income |
25.02 |
15.98 |
| Total
Income |
3110.76 |
2967.74 |
| Total
Expenditure |
2594.94 |
2534.50 |
| a)
(Increase)/Decrease in stock |
(0.79) |
9.94 |
| b)
Consumption of Raw Materials etc. |
652.61 |
630.80 |
| c)
Staff Costs |
528.28 |
493.75 |
| d)
Other Expenditure |
1414.84 |
1400.01 |
Profit
before Interest and Depreciation
Interest
(Net) |
515.82
132.04 |
433.24
165.56 |
Gross
Profit after Interest but
before Depreciation and Taxation
Depreciation
|
383.78
82.68 |
267.68
88.77 |
Profit
before tax
Provision
for Taxation
a) Current Taxation
b) Deferred Taxation |
301.10
95.80
(5.16) |
178.91
54.42
8.21 |
| Profit
after tax |
210.46 |
116.28 |
| Share
of Profit/(Loss) from associated undertaking |
2.93 |
(23.05) |
| Minority
Interest in Consolidated Profit |
8.39 |
10.69 |
| Profit
after Tax adjusted for Share of Profit/(Loss) from Associated
Undertaking and Minority Interest |
205.00 |
82.54 |
| Paid
up Equity Share Capital (face value of Rs 10 each) |
56.21 |
56.21 |
| Reserves
excluding Revaluation Reserve |
1318.89
|
1108.86 |
| Earnings
per Share-Rs |
36.46 |
14.68 |
Notes:
- The Tata Tea Group of Companies registered a consolidated turnover
of Rs 3110.76 crores for the year, which was 5% higher than the
turnover for the preceding year. Of the current years consolidated
turnover, 86% was contributed by the Group's world wide branded
tea business which registered growth in all key markets.
- The consolidated Profit before Tax of Rs 301.10 crores and
the Profit after Tax of Rs 210.46 crores increased by 68% and
81% over the preceding year, respectively. The profit growth has
been achieved not withstanding the losses in the Group's Indian
plantation operations.
- The above results include the accounts of The Tetley Group for
the period March 2,2003 to March 31,2004 drawn up in accordance
with Indian GAAP.
- For 2003/04, The Tetley Group has extended its accounting period
in order to align its accounting year end closer to that of the
parent company. Accordingly, for the thirteen month period ended
April 3,2004, under UK GAAP, The Tetley Group reported a turnover
of £ 251.5mn (Previous Year- £ 256 mn). The turnover
for the two accounting periods is not comparable as the preceding
year's turnover included sales from a business since discontinued.
The Profit before Tax of £ 23.8 mn (Previous Year- £
12.8 mn) and the Profit after Tax of £ 16.1 mn (Previous
Year - £ 9.4 mn) were higher by 86 % & 71%, respectively
over the preceding year.
- The consolidated financial results of the Tata Tea Group of
companies have been prepared in accordance with the Accounting
Standard AS-21 on Consolidated Financial Statements, AS-23 on
Accounting for Investments in Associates in Consolidated Financial
Statements as well as AS-27 on Financial Reporting for Interests
in Joint Ventures issued by the Institute of Chartered Accountants
of India.
- The consolidated financial accounts take into consideration
the proportionate share of the (unaudited) results of Barista
Coffee Company Ltd, an associate company of our subsidiary Tata
Coffee Ltd, for the year ended March 31, 2004. The accounts of
Barista Coffee Company Ltd were not considered in the previous
year as the same had not been finalized at that point in time.
In the case of Rallis India Ltd, an associate company, the published
financial results for the year ended March 31,2004 have been considered
for the purpose of preparing the consolidated financial statement.
- Previous year's figures have been regrouped, to the extent
necessary, to conform to current year's figures.
- The aforementioned results were reviewed by the Audit Committee
of the Board and subsequently taken on record by the Board of
Directors at its meeting held on June 24, 2004.
| Mumbai,
June 24, 2004 |
Ratan N
Tata
(Chairman)
|
|
| |
|
