tata tea ltd-144a gdr (TTAEY) Snapshot

Tata Global Beverages Limited (BSE:500800) (TGBL) is looking to acquire a European tea brand in a deal valued at INR 7 billion, according to investment bankers familiar with the development. The deal will be funded partly via debt and equity. “The deal is in line with TGBL’s string of acquisition in the speciality tea segment,” said an investment banker familiar with the development. TGBL spokesperson said, “We don’t comment on market speculation.”

Tata Global Beverages Limited announced audited standalone and consolidated earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, the standalone company has posted a net profit of INR 370.00 million as compared to INR 293.20 million for the quarter ended March 31, 2012. Total income has increased from INR 4,818.00 million to INR 5,848.50 million for the quarter ended March 31, 2013. Net sales were INR 5,583.6 million against INR 4,637 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 548 million against INR 491.8 million a year ago. Profit from ordinary activities before tax was INR 449.5 million against INR 407.5 million a year ago. Basic and diluted earnings per share were INR 0.60 against INR 0.47 a year ago. Basic and diluted earnings per share excluding the impact of exceptional items were INR 0.65 against INR 0.57 a year ago. For the year, the standalone company has posted a net profit of INR 2,586.50 million as compared to INR 3,026.80 million for the year ended March 31, 2012. Total income has increased from INR 21,293.80 million to INR 24,390.70 million for the same period last year. Net sales were INR 22,778.4 million against INR 19,956.4 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 2,221.2 million against INR 2,197.3 million a year ago. Profit from ordinary activities before tax was INR 3,209.5 million against INR 3,699.1 million a year ago. Basic and diluted earnings per share were INR 4.18 against INR 4.89 a year ago. Basic and diluted earnings per share excluding the impact of exceptional items were INR 3.71 against INR 3.26 a year ago. For the quarter, the consolidated company reported net profit of INR 957.60 million as compared to INR 542.10 million for the quarter ended March 31, 2012. Total income has increased from INR 17,575.40 million for the quarter ended March 31, 2012 to INR 18,655.20 million for the quarter ended March 31, 2013. Net sales were INR 18,108.9 million against INR 17,241.1 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,928.5 million against INR 1,619.3 million a year ago. Profit from ordinary activities before tax was INR 1,809.1 million against INR 1,271 million a year ago. Basic and diluted earnings per share were INR 1.55 against INR 0.88 a year ago. Basic and diluted earnings per share excluding the impact of exceptional items were INR 1.53 against INR 1.23 a year ago. Income from operations at INR 18.49 billion increased by 6% as compared to the corresponding period of the previous year reflecting improved performance coupled with favorable foreign exchange translation impact. Profit from operations at INR 1.93 billion is 19% higher than the corresponding period of the previous year. The results for this quarter include the impact of higher spend on advertising compared with the same period in the previous year. After considering exceptional items Profit after tax is 56% higher than the same period in the previous year. For the year, the consolidated company reported net profit of INR 3,727.50 million as compared to INR 3,561.40 million for the year ended March 31, 2012. Total income has increased from INR 67,345.60 million to INR 74,369.90 million for the same period last year. Net sales were INR 72,703.3 million against INR 65,852.6 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 6,633.9 million against INR 5,269.1 million a year ago. Profit from ordinary activities before tax was INR 6,367.9 million against INR 5,736.2 million a year ago. Basic and diluted earnings per share were INR 6.03 against INR 5.76 a year ago. Basic and diluted earnings per share excluding the impact of exceptional items were INR 5.95 against INR 4.62 a year ago. The company's consolidated total income from operations at INR 73.51 billion is 11% higher than the prior year reflecting improved performance coupled with favorable foreign exchange translation impact. Operating profit at INR 6.63 billion is 26% higher than the previous year reflecting improved performance in major markets and favorable impact of cost interventions. Total income from operations was INR 73,510 million is 11% higher than the prior year reflecting improved performance coupled with favourable foreign exchange translation impact.

Tata Global Beverages Limited has reported that the Board of Directors of the company at its meeting held on May 28, 2013, have appointed Mr. S Santhanankrishnan as an Additional Director only and not as Independent Director, with effect from May 28, 2013.