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Tata Global Beverages Limited (Formerly Tata Tea Limited

)
Registered Office: 1 Bishop Lefroy Road Kolkata-700020

Audited Consolidated Financial Results for the year ended March 31, 2011 Rs in Lakhs Particulars Year ended March 31 2011 2010 598242 2212 600454 (6587) 230500 28207 61389 101269 9944 124872 549594 578295 3797 582092 (3704) 207069 27597 61669 98547 10292 118750 520220

Net Sales / Income from Operations Other Operating Income Total Operating Income (a) (Increase) / Decrease in stock in trade and work in progress (b) Consumption of raw materials (c) Purchase of traded goods (d) Employees cost (e) Advertisement & sales charges (f) Depreciation and Amortization (net of amount drawn from Revaluation Reserve) (g) Other expenditure Total Expenditure

Profit from Operations before Other Income , Interest & Exceptional Items Other Income - Income from Investments (Net) Profit before Interest & Exceptional Items Interest (Net) Profit after Interest but before Exceptional Items Other Exceptional Income (Net) Profit before Tax Tax Expense (a) Current Tax (b) Deferred Tax Profit after Tax Share of Profit from Associates Minority Interest in Consolidated Profit Group Consolidated Net Profit Paid-up equity share capital * Reserves excluding Revaluation Reserves Earnings per share (Basic & Diluted) - Rs* Aggregate of Public Shareholding -Number of Shares * -Percentage of Share holding Promoters and Promoters Group Shareholding (a) Pledged/ Encumbered - Number of shares * -Percentage of Shares (as a percentage of the total shareholding of the promoter and promoter group) -Percentage of Shares (as a percentage of the total share Capital of the Company) (b) Non Encumbered - Number of shares * -Percentage of Shares (as a percentage of the total shareholding of the promoter and promoter group) -Percentage of Shares (as a percentage of the total share Capital of the Company)

50860 2947 53807 5307 48500 951 49451

61872 3406 65278 2793 62485 1613 64098

21076 (829) 29204 2025 (5796) 25433 6184 385070 4.11

24386 381 39331 3304 (3605) 39030 6184 361439 6.31

400550547 64.77%

39975888 64.64%

70000000 32.13% 11.32%

7500000 34.30% 12.13%

147848023 67.87% 23.91%

14363969 65.70% 23.23%

* Refer Note 8

Notes:

1. The name of the Holding Company was changed from Tata Tea Limited to Tata Global Beverages Limited with effect from July 2, 2010. Whilst there is no change in the line of business, the change in the name signals the intent to be truly global and to focus on wider branded beverage agenda.

2. One of the Holding Company’s overseas subsidiary acquired 31% stake, calculated on a fully diluted TM basis, in The Rising Beverages Company LLC, the owner of Activate a performance beverage in the USA. The subsidiary has an option to further increase its stake in this Company.

3. The Holding Company has entered into a 50: 50 Joint Venture with PepsiCo India Holding Private Limited and formed a jointly controlled entity named NourishCo Beverages Limited to operate in the area of non-carbonated ready-to-drink beverages focused on health and enhanced wellness. The mandate of the Joint Venture is to develop its business both within India and internationally. 4. The Holding Company has signed a MOU with Kerala Ayurveda Limited to enter into a 50:50 Joint Venture through formation of jointly controlled entity. The Joint Venture would facilitate the development of a range of leading edge, functional and great tasting beverage and food products based on proven Ayurvedic recipes, actives and formulation with necessary research, development and commercialization capability. The definitive agreements are being finalized. 5. Total operating income for the year at Rs 6005 crores increased by 3% as compared to the previous year despite adverse translation impact. At constant exchange rates the increase was 6%.

6. The Company continues to focus on building new capabilities and invest behind new products and brands. Profit before exceptional items for the year at Rs 485 crores was lower compared to the previous year mainly due to higher commodity costs, higher expenditure on growth initiatives and lower interest earnings. Accordingly, profit before and after tax are also lower than the previous year.

7. Exceptional items for the year ended March 31, 2011 represents profit arising out of sale of non-core investments aggregating to (Rs 44 crores), acturial gain on defined benefit retirement scheme of an overseas subsidiary (Rs 37 crores) offset by employee separation scheme expenses in India (Rs 21 crores), redundancy costs incurred in overseas subsidiary in relation to business restructure (Rs 16 crores) and other business restructuring costs (Rs 31 crores) and translation impact on foreign currency hedges in overseas subsidiary (Rs 4 crores). In the previous year exceptional items consisted of Group profit on sale of shares of an associate (Rs 186 crores) offset by translation loss on foreign currency hedges in overseas subsidiaries (Rs 102 crores), Acturial loss on defined benefit retirement schemes of an overseas subsidiary (Rs 40 crores), expenses relating to restructuring of business (Rs 20 crores) and other exceptional items (Rs 8 crores).

8. With effect from record date July 2, 2010, the face value of the Holding Company’s shares has been subdivided from Rs 10 per share to Re 1 per share. Earnings per share for previous year has been computed based on the revised number of shares. Earnings per share (EPS) (basic and diluted) for the year ended March 31, 2011 of Rs. 4.11 is lower than Rs 6.31 reported for the corresponding period of the previous year mainly due to higher commodity costs and higher expenditure on growth initiatives. Net of the impact of exceptional items, EPS (basic and diluted) for the current year ended is Rs. 3.75 as compared to Rs 5.11 for the corresponding period of the previous year.

9. The major part of the Holding Company’s business arises from operations outside India and through its subsidiaries. In view of this the Company has opted to publish only consolidated results for the year as permitted under SEBI guidelines. The standalone results shall be available on the Company’s website as well as on the website of the stock exchanges where the Company’s shares are listed. The Total

Operating Income, Net Profit after Tax and Earnings per share of the Holding Company’s standalone financial results are given below:

In Rs Crores

Total Operating Income Profit after Tax Earning per share – Rs Earning per share – Rs excluding impact of exceptional items

Year ended March 31 2011 2010 1811 1716 181 391* 2.92 6.33 2.45 2.86

*Profit after Tax in the previous year is higher mainly due to the profit on sale of shares (Rs 220 crores) held in an Associate Company.

10. Previous year figures have been regrouped / rearranged, to the extent necessary, to conform to current year figures.

11. The aforementioned results were reviewed by the Audit Committee of the Board on May 23, 2011 and subsequently taken on record by the Board of Directors at its Meeting held on May 24, 2011 The statutory auditors of the company have audited these results.

Ratan N Tata (Chairman) Mumbai: May 24, 2011

Tata Global Beverages Limited (Formerly Tata Tea Limited)
Registered Office : 1 Bishop Lefroy Road Kolkata 700020

Audited Consolidated Segment wise Revenue, Results and Capital Employed, under Clause 41, of the Listing Agreement for the year ended March 31, 2011 Rs in Lakhs Particulars Year ended March 31, 2011 Year ended March 31, 2010

1. Segment Revenue (a) Tea (b) Coffee & Other Produce (c) Others (d) Unallocated Total Operating Income 2. Segment Results (a) Tea (b) Coffee & Other Produce (c) Others Total Add/(Less) i) Interest (net) ii) Other Un-allocable items, Investment Income and Exceptional Expenditure Total Profit before Tax 3. Capital Employed (a) Tea (b) Coffee & Other Produce (c) Others (d) Unallocated including Investments Total

451950 142991 5453 60 600454 42295 24064 (1237) 65122 (5307) (10364) 49451 263931 166876 16965 58748 506520

441226 134601 6132 133 582092 57391 23970 (1399) 79962 (2793) (13071) 64098 244406 161803 16723 55105 478037

Notes: a. Business Segments: The internal business segmentation and the activities encompassed therein are as follows: Tea : Cultivation & manufacture of black tea and instant tea, tea buying/ blending and sale of tea in bulk or value added form. Coffee and Other Produce : Cultivation of coffee, pepper and other plantation crops and conversion of coffee into value added products such as roast and ground coffee & instant coffee. Others : Sale of Natural Mineral Water , other minor crops and curing operations of coffee and trading of items required for coffee plantations.

b. The segment wise revenue, results, capital employed figures relate to the respective amounts directly identifiable to each of the segments. Unallocable expenditure include expenses incurred on common services at the corporate level interest and exceptional items. Unallocable income includes income from investments and exceptional items

Mumbai: May 24, 2011

Ratan N Tata (Chairman) Financial Highlights Rs in Crores Year ended March 31, 2011

Particulars

2010

Total Operating Income Profit before Exceptionals Exceptionals (net) Net Profit Before Tax Net Profit after Tax Earnings per Share - Rs Earnings per Share (Before Exceptionals)- on Core Operations - Rs Dividend recommended - Rs per share(Face Value Rs 1 per share) (PY Face Value Rs 10 per Share)

6004.54 485.00 9.51 494.51 292.04 4.11 3.75 Rs 2

5820.92 624.85 16.13 640.98 393.31 6.31 5.11 Rs 20