Tata Coffee Limited announces results for FY 2013-14
Tata Coffee Limited announces its results for the financial year ended March 31st, 2014
Declares a Dividend of 130%
FY 2013-14 - HIGHLIGHTS
- Topline growth of 9% with record Turnover at Rs 651 Cr (Previous year Rs 598 Cr)
- Profit before Exceptional items at Rs 148 Cr (Previous year Rs 141Cr)
- Profit after Taxes Rs 107 Cr (Previous year Rs 94 Cr).
- Coffee and Pepper continued to record encouraging performance throughout the year.
- Instant Coffee recorded improvement in Sales volumes during the quarter which has ended, from new customers and new markets.
- The Company’s focus on high value Specialty coffee helped neutralize the fall in both the Robusta and Arabica prices during the year. The pepper business has generated substantial margins, underlining the strength of Tata Coffee being a multi product Plantation Company. The company continues to focus on developmental initiatives in the plantations business to further enhance sustainability of operations.
- Turnover Rs 1677 Cr (Previous year Rs 1697 Cr)
- Profit before Exceptional Items Rs 239 Cr (Previous year Rs 234 Cr).
- The growth in Single Serve Coffee business has impacted the sale of coffee in conventional bags and cans across USA and this change is also reflected in Eight O'Clock Coffee. However, the strategic move to enter this new segment has substantially benefited the Company with a high volume of single serve sales and income being achieved.
- Exceptional Items: The Company's overseas subsidiary Consolidated Coffee Inc. (CCI) had invested in an US based functional beverage company. Based on changed market conditions, its performance and significant future funding requirements a decision was taken to divest its holdings in this Company during the second quarter of the financial year 2013-14. The losses on this account are included under Exceptional Items and net of tax and minority interest, the impact on group Consolidated profits is Rs 33 cr.
- Dividend declared for the year is 130% (Previous year 125%).
The company continues to strongly focus on profitable growth in all its markets and segments