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Set up in 1964 as a joint venture with UK-based James Finlay and Company to dev
elop value-added tea, the Tata Tea Group of Companies, which includes Tata Tea a
nd the UK-based Tetley Group, today represent the world's second largest global
branded tea operation with product and brand presence in 40 countries. Among Ind
ia's first multinational companies, the operations of Tata Tea and its subsidiar
ies focus on branded product offerings in tea but with a significant presence in
plantation activity in India and Sri Lanka.
The consolidated worldwide branded tea business of the Tata Tea Group contribute
s to around 86 per cent of its consolidated turnover with the remaining 14 per c
ent coming from Bulk Tea, Coffee, and Investment Income. The Company is headquar
tered in Kolkata and owns 27 tea estates in the states of Assam and West Bengal
in eastern India, and Kerala in the south.
With an area of approx 15,900 hectares under tea cultivation, Tata Tea produces
around 30 million kg of Black Tea annually.
Tata Tea and the Tetley Group have full-fledged R&D Centres that focus on the b
randed business. In addition, Tata Tea has an R&D Centre at Teok (Assam) and a p
roduct development centre at Bangalore focused on the entire gamut of tea operat
ions.
Overseas Business
The Tata Tea and Tetley portfolios of branded offerings caters specifically to
the Australian, Middle East, West Asia, North Africa, Poland, Russia and Kazakhs
tan markets. This is independent of the manufacturing and supply operations of i
ts Tetley and other subsidiary companies.
Subsidiaries
Tata Tea has subsidiaries in Great Britain, United States and India.
The Tetley Group has been a member of the Tata Group since March 2000 and now co
ntributes around two thirds of the total turnover of Tata Tea Ltd.
Headquartered in Great Britain, its footprint is global: Tetley has offices in A
ustralia, Canada, Poland, Russia, South Africa and the US, as well as joint vent
ures in Pakistan and Bangladesh. Today, Tetley is the second largest tea bag bra
nd in the world, and Tetley products are on sale in over 40 countries.
Tetley is the no.1 tea bag brand in Great Britain and Canada and has significant
market shares in the United States, Australia, Poland and France. Beyond these
markets Tetley is steadily growing its presence in Eastern Europe, Russia, throu
gh to Bangladesh and Pakistan, and recently launched in South Africa.
Tetley has a customised portfolio of offerings for each country, ranging from Bl
ack, Green, Fruit & Herbal Teas, Iced Ready-to-drink Teas and an extensive range
of exotic Speciality Tea.
Established in 1837, Tetley was the first British tea company to introduce the t
ea bag to the UK in 1953, and the company continues this tradition of innovation
. The tea bag was followed by the first round tea bag in 1989, and the 'no drip,
no mess' Drawstring bag in 1997.
A stream of successful packaging formats include the resealable 'soft pack' form
at for Tetley teas in the UK, and a unique 'stay fresh' round canister for green
, fruit and herbal and speciality tea ranges in Canada, the UK and Australia.
Our fully-owned manufacturing facility is based at Eaglescliffe, in the North Ea
st of England. Established since 1969, it currently occupies 220,000 square feet
and is believed to be the largest tea bag factory in the world.
Tata Coffee with Instant Coffee manufacturing facilities, R&D capability and pla
ntation assets of around 8000 hectares, producing over 9000 MT of Coffee annuall
y, is the largest coffee plantation company in Asia. The company grows both the
Robusta and Arabica varieties of coffee and markets both instant and "ground" co
ffee. Its curing facility has the Certificate of Approval for Quality Standards
ISO 9002, the first curing unit in Asia to receive this certification. The Compa
ny's operations also have the SA:8000 & UTZ KAPEH accreditation / certification
with effect from January 1st, 2006, the company has taken over 5 tea estates and
one coffee estate of Tata Tea in the Annamalai tea growing region of Tamil Nadu
.
Tata Tea Inc. in the United States processes and markets Instant Tea from its fa
cility in Florida, based on sourcing of Instant Tea products out of Munnar, Kera
la.
Associate Companies
Tata Tea has a substantial interest in the Sri Lankan tea industry through Wat
awala Plantations Limited, Sri Lanka, where it focuses on production and marketi
ng of Tea, Rubber and Palm Oil.
Kanan Devan Hills Plantation Company Pvt. Ltd., established at the close of bus
iness on 31st March 2005, has major interests in production and manufacture of b
lack tea at its 17 estates in Kerala. Tata Tea has a minority stake in the entit
y.
Community Welfare
Tata Tea contributes significantly to social and community development on its
estates through comprehensive labour welfare programmes that offer free housing,
healthcare and other benefits. The company has set-up and manages hospitals, ad
ult-literacy centres, childcare centres and schools to educate the children of i
ts nearly 34,000 employees. In addition, the company has special facilities to l
ook after "differently abled" children of the workers who are taught how to oper
ate in the environment by enhancing their skills and abilities.
Tata Tea has institutionalised a process of Annual Welfare Audit conducted by re
nowned WHO experts, among the first Indian companies to do so.
The Tetley business is managed in the spirit of trust and good corporate citizen
ship for which Tata Group companies are justly renowned. We are committed to run
ning the business responsibly; understanding and improving our social, environme
ntal and ethical impacts is central to the way we work and this is evident in th
e growing programme of local and corporate activities - from waste management pr
ogrammes at our Eaglescliffe Tea Factory to the provision of safe water for 10,0
00 people in the tea growing areas of Malawi.
Our environment policy is focused on managing the nature and quantity of waste w
e create, and on the energy we use in our facilities and in the movement of good
s and people. It was a significant achievement for our UK-based sites when they
were awarded ISO 14001 certification for environment management systems in March
2005.
We manage our social impacts by building partnerships with charities and non gov
ernment organisations, focusing on causes with a clear relevance to our business
. These partnerships go beyond traditional corporate fundraising, involving acti
vities that change both the Tetley business and the partner organisation for the
better. This means encouraging our staff to become personally involved in the p
artnerships, donating their time and skills, as well as money.
Contact
Tata Global Beverages Limited
1 Bishop Lefroy Road
Kolkata - 700 020
India
Telephone +91-33-22813891/4747/3988/3993
Fax +91-33-22811199
Email ttl.ho@tatatea.co.in
Foreword
The values and principles which have governed the manner in which the Tata Group
of companies and their employees have conducted themselves were first formally
articulated as the Tata Code of Conduct in 1998. This Code was intended to serve
as a guide to each employee on the values, ethics and business principles expec
ted of him or her in personal and professional conduct.
It is however important to consider the effect of the rapidly increasing footpri
nt of Tata Group companies across nationalities and geographical boundaries on t
he Code, whilst retaining the ethos of the Tata brand and reputation. This emerg
ent global presence requires an appropriate modification of the Code to ensure t
hat it addresses and encompasses diverse cultural, business and related issues u
niversally across our Group.
I urge each employee to read the current version of the Tata Code of Conduct and
take pride in upholding the high standards of corporate and personal behaviour
on which the Tata Group s reputation and respectability have been built over the p
ast 130 years.
Competition (Clause:3)
A Tata company shall fully support the development and operation of competitive
open markets and shall promote the liberalisation of trade and investment in eac
h country and market in which it operates. Specifically, no Tata company or empl
oyee shall engage in restrictive trade practices, abuse of market dominance or s
imilar unfair trade activities.
A Tata company or employee shall market the company s products and services on the
ir own merits and shall not make unfair and misleading statements about competit
ors products and services. Any collection of competitive information shall be mad
e only in the normal course of business and shall be obtained only through legal
ly permitted sources and means.
Shareholders (Clause:16)
A Tata company shall be committed to enhancing shareholder value and complying w
ith all regulations and laws that govern shareholder rights. The board of direct
ors of a Tata company shall duly and fairly inform its shareholders about all re
levant aspects of the company s business, and disclose such information in accorda
nce with relevant regulations and agreements.
Citizenship (Clause:23)
The involvement of a Tata employee in civic or public affairs shall be with expr
ess approval from the chief executive of his / her company, subject to this invo
lvement having no adverse impact on the business affairs of the company or the T
ata Group.
Note:
The TCoC does not provide a full, comprehensive and complete explanation of all
the rules that employees are bound to follow. Employees have a continuing obliga
tion to familiarise themselves with all applicable laws, company policies, proce
dures and work rules.
All JVs could adopt TCoC or a joint code of conduct incorporating all elements o
f the TCoC.
This version of the TCoC supersedes all earlier versions and associated document
s and stands effective from July 1, 2008.
TATA TEA BRINGS THE BEST OF FOOTBALL COACHING THROUGH ARSENAL TO YOUNG FOOTBALL
ASPIRANTS IN INDIA
Announces Tata Tea Arsenal Soccer Stars, a football tournament and coaching p
rogramme, in association with Arsenal FC, UK
The national level tournament is for school students aged 10-15
Selected students to be provided with training by Arsenal both in India and a
t the Arsenal International Soccer Festival in London
Kolkata, December 18, 2007: With the objective to promote football among school
children and help talented young football players to access the best in terms of
infrastructure and training, Tata Tea today announced the launch of Tata Tea Ar
senal Soccer Stars, a unique schools soccer tournament, in association with Arsen
al FC, United Kingdom s premier football league.
Tata Tea Arsenal Soccer Stars programme is part of Tata Tea s enhanced focus on th
e issues that concern the youth of this country. In its constant endeavour to de
monstrate thought leadership, Tata Tea recently launched the Jaago Re campaign. Th
is campaign aims to resonate with young India beyond the role of tea as merely a m
edium of physical rejuvenation or a wake up drink, to a medium of individual and
social awakening in society.
With Soccer Stars, the company is looking at identifying and nurturing latent ta
lent at the grass roots level; amongst school children, to encourage interest in
less prominent games such as football. As a category leader, Tata Tea believes
its youth oriented focus will emotively connect with issues that drive the heart
, mind and soul of India s emerging social consciousness.
Speaking at the press conference Mr. Percy Siganporia, Managing Director, Tata T
ea, said, Tata Tea and Arsenal are passionate about the healthy awakening of mind
, body and soul of our country s youth ,through football. Leadership, the pursuit
of excellence, unity of team spirit and character building value attributes of f
ootball and tea, come together in a heady mix. Let the tournament begin and upli
ft young minds and bodies, infusing the passion of football amongst all who chee
r them on with Tata Tea. We would like to thank Arsenal for driving the growth o
f football in India. I am sure this initiative will brighten the future of India
n football.
Mrs. Sangeeta Talwar, Executive Director, Tata Tea said "Leveraging our volume l
eadership in the tea market in India, we are clearly demonstrating thought leade
rship as well. In October we launched the Jaago Re campaign plat formed on socia
l awakening and intellectual revitalization. In a similar vein, we now seek to c
hallenge and awaken the sports scenario in India. We have selected soccer; a hig
h energy team sport, which has a lot of interest among teenagers and what better
way to bring this awakening but to associate ourselves with a world Premier Soc
cer Club - Arsenal"
Mr. Adrian Ford, Commercial Director, Arsenal FC said, At Arsenal our aim is alwa
ys to identify and encourage young talent for the betterment of the game. We are
glad that Tata Tea has taken the initiative. Soccer Stars is a fantastic platfo
rm for budding young footballers and we hope this will contribute in propagating
this wonderful sport further in India.
Tata Tea Soccer Stars is a one of its kind football tournaments for children age
d 10 - 15 years. The tournament offers participants access to unparalleled train
ing programmes including the customized Arsenal development programme called The
Arsenal Way. Starting from 12th January, the tournament will begin in phases ac
ross four zones South, West, North and East with each zone having its own elimin
ation rounds, culminating in a national tournament, to decide the national winne
rs.
30 talented boys, identified by a panel of professional footballers during the t
ournament will be given 2 weeks of coaching by Arsenal coaches in Calcutta. This
will be followed up with a final selection of 15 boys getting a once in a lifet
ime opportunity to attend an Arsenal training camp in the UK as well as entry to
the much awaited Arsenal International Soccer Festival in London during August
2008. The selected boys will also get Arsenal memorabilia personally autographed
by the team s star players.
The Tata Tea Arsenal SoccerStars will kick off with the south zone matches in Ba
ngalore and Calicut during 12th & 13th January 2008 and 19th & 20th January 2008
respectively.
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About Tata Tea
Tata Tea is a leading player in the global beverages market with significant pre
sence in over 40 countries. The company has steadily transformed itself from bei
ng a plantation business to emerge as a key player in the branded segment. Tata
Tea s operations spans the entire value-chain in tea, including research and devel
opment, tea cultivation, manufacture of black and instant tea, blending, packagi
ng, branding, marketing, sales and distribution.
About Arsenal FC
Arsenal Football Club was founded in 1886 when a group of workers at the Woolwic
h Arsenal Armament Factory decided to form a football team, turning professional
in 1891. Now, some 39 trophies later, the club stands proudly at the top of the
English Premier League (EPL), five points clear of arch rivals Manchester Unite
d, and six ahead of Chelsea. Three times Premier League Champions and five times
runners-up, the club has won a reputation for being the most exciting and enter
taining in world football. They are the only team to complete an EPL season unbe
aten (2003-04), and the only one to go through an EPL campaign scoring in every
game (2001-02).
Following the move from Highbury in July 2006 to the new 60,000 capacity state-o
f-the-art Emirates Stadium annual turnover has increased to more than USD400m su
bstantially more than Manchester United and Chelsea and in world terms, a very c
lose second to Real Madrid. With talismanic manager Arsene Wenger having recentl
y signed a contract extension through to 2011 the future for Arsenal FC has neve
r looked brighter.
Year Awards
Tea Board Awards
1989 Nowera Nuddy - Tea board award for highest yields.
1991 Nahorkutia - Tea board award for highest yields.
1992 Nowera Nuddy, Achabam, Velonie - (All India) - Tea board award for highest
yields.
1993 Nowera Nuddy, Sagmootea, Achabam - Tea board award for highest yields.
1994 Nowera Nuddy, Sagmootea - Tea board award for highest yields.
1995 Nahorkutia - Tea board award for highest yields.
1996 Nahorkutia - Tea board award for highest yields.
1997 Powai - Tea board award for highest yields.
1998-2002 Awards yet to be announced by Tea Board.
Other Awards
1989 FICCI Award for Family Planning.
1990 Bombay Management Association Award for Best Industrial Hospital in the Cou
ntry - General Hospital, Munnar.
1992 Indian Merchant's Chamber Diamond Jubilee Awards - Shri Pranlal Devkaran Na
nee Endowment Award 1992 for promoting savings among the population.
1994 Indian Medical Association Baby Friendly Hospital Award 1994.
1994,1995& 1996 The Pullivasal packing centre and SIPD were awarded the coveted
"Industrial Safety Award (Kerala Chapter) in the Group II of Industries (Industr
ies utilising between 2.50 and 10 lakh man-hours per year) respectively.
1996 The Tata Tea premium leaf laminate won the INDIASTAR'96 award for the excel
lence in laminate construction.
1996-97 National Award in recognition of outstanding employers services for the
welfare of the physically handicapped - from the President of India.
1997 Most outstanding Institution for Handicapped in Kerala Award 1997 - by Gove
rnment of Kerala - for DARE Project, Munnar.
1997-98 FICCI Award 1997/98 in recognition of corporate initiative in Training a
nd Placement of persons with disability.
1999, 2000, 2001, 2002, 2003 Best All India Inhouse Magazine Award for TATEAN fr
om the Rotary International, Kochi and the Press Club of Trivandrum.
1999-00 Recipient of Helen Keller award by National Centre of Promotion of Emplo
yment for Disabled People - As an organisation which shares visitation and demon
strates its belief in equal rights and gainful employment for persons with disab
ilities.
2001 National Safety Council, Kerala Chapter Award (2001) for outstanding perfor
mance in Industrial Safety as Runner Up by achieving the lowest frequency rate o
f accidents in Gr. III(B) Engineering Industries.
2003 Golden Peacock Innovative Product & Service Award.
2003 Mother Teresa Commendation Award for Corporate Citizenship.
TATA GLOBAL BEVERAGES LIMITED TO FORM JOINT VENTURE COMPANY IN CHINA WITH ZHEJIA
NG TEA IMPORT & EXPORT COMPANY
* JV Company to manufacture tea extracts *
Kolkata / Anji County (China), May 8, 2007: Tata Global Beverages Limited today
signed a Joint Venture Agreement with Zhejiang Tea Import & Export (ZTIE) Compan
y of People's Republic of China at a ceremonial function held at the Government
House, Anji County.
The agreement involves setting up a joint venture Company at Economic Developmen
t Zone of Anji County, Zhejiang, PRC for manufacture and marketing of Green Tea
Polyphenols, other green tea extracts, cold and hot water soluble instant tea, l
iquid tea concentrates and other value added tea beverage products. The Company
will own 70 percent of the registered capital of the joint venture Company. The
project will come up at an initial investment of USD 16 million (INR 70 crores)
to be funded by a mix of equity capital and borrowings.
The signing ceremony was graced by senior State officials, Mr. Percy T. Siganpor
ia, Managing Director, Tata Tea Limited, senior officials from Tata Tea, Chief D
irector of Xinghe Group, Mr. Shi Jian Qiang, Chairman, ZTIE and other senior off
icials from ZTIE.
Addressing the gathering after signing the historic agreement, Mr. Percy T. Siga
nporia said, This project is of great strategic importance for the Tata group in
reaching out to the Chinese and Far East markets. I wish to take this opportunit
y to thank the senior government officials and the management of Zhejiang Tea Im
port & Export Company for their cooperation.
Anji County, known as the City of Angel, is also called the China town of Bamboo a
nd China town of White Tea . Thus the new factory will be amidst most beautiful sur
roundings and in the heart of green tea areas.
About Tata Global Beverages Limited
Tata Global Beverages Limited is a group Company of TATA Group, one of the large
st and most respected business houses of India. Tata Tea was formed in 1983 from
the erstwhile Tata Finlay Company, a joint venture company formed in 1964. The
Company has five major tea brands and holds the second position in market and va
lue share in domestic branded tea business. With the acquisition of Tetley Group
in the year 2000, the combined entity now represents the second largest global
branded tea operation with product presence in more than 40 countries. The curre
nt business interests include branded tea and tea extract business. Tata Tea has
registered a turnover of USD 713m in 2005-2006. Tata Tea Inc., a subsidiary com
pany in US is involved in the marketing and value addition of tea extracts.
The thrust on globalisation agenda of Tata Tea had earlier resulted in acquisiti
ons of Good Earth in US, Jemca in Czech, Eight O Clock Coffee in US and recently,
of trademarks Vitax and Flosana in Poland. Acquisition of 30 percent stake in E
nergy Brands Inc. (Glaceau brand) with an investment of USD 677m fits well with
the Tata Tea Group s strategic plan to become the No. 1 Beverage Company in the wo
rld.
Tata Global Beverages Limited has been involved in the tea extract business for
last 40 odd years. The company has been manufacturing Black Tea extract in their
factory situated in South India, exclusively for the export markets. A unique m
anufacturing process using fresh green tea leaves has given an exotic taste to t
heir tea extract products and has found wide acceptability in western markets. T
ata Tea black tea extracts has got significant market presence in the West, whic
h find end use in many beverage brands. As it is strategically important for Tat
a Tea to expand the tea extract business and to have presence in world tea extra
ct market, the group has focused their attention on green tea extracts, which is
gaining popularity for application in food, beverages, personal care products a
nd food supplements.
About ZTIE
Zhejiang Tea Import & Export Company Limited, based at Hangzhou in Zhejiang prov
ince, which is one of the largest tea growing areas in China. ZTIE is the larges
t green tea exporter of China and has established wide marketing network in Chin
a, Japan, Pakistan, Morocco and other parts of Africa. The Company s main sharehol
der is state owned Xinghe group (54 percent), and the balance owned by the emplo
yees / managers. ZTIE has the much needed experience in running Joint venture co
mpanies and have been exporting value added branded green teas and tea machinery
. The turnover of this company was $450m last year.
ZTIE is amongst the first ISO 9002 certified International Trading Company in Ch
ina. The Company s products have been awarded the prestigious Medal of Honour at t
he Monde Selection. With a dedicated and state of the art R&D facilities, the pr
oducts meet all the internationally laid down quality parameters for tea.
For further information contact:
Rashmi Mehta
e-mail : rashmi.mehta@tatatea.co.in
TATA GLOBAL BEVERAGES LIMITED ANNOUNCES ACQUISITION OF JEMCA BY TATA TEA (GB) LT
D., U.K.
Tata Global Beverages Limited. s subsidiary, Tata Tea (GB) Ltd., U.K.. has signed
a definitive agreement to acquire the assets of market leading tea company in th
e Czech Republic, JEMCA, from food processing company, Alima Znacková Potravina, a
.s. The acquisition has been funded by The Tetley Group.
JEMCA has 26.6% volume share of the tea market in the Czech Republic* and turnov
er of 300 million Czech Koruna (around US$ 12.5 million).
JEMCA will continue to pack teas at its production facility in Jemnice, Czech Re
public and continue to trade under the JEMCA brand name.
In a statement, Mr. Ken Pringle, Executive Vice Chairman and Chief Executive Off
icer of The Tetley Group, and Director of Tata Tea said :-
This acquisition is a further development of our plans to grow the Tata Group s tea
business around the world. It gives us a market leading position in an area whe
re tea consumption is high and where we have been previously unrepresented. The
experience and skills of JEMCA and Tetley complement each other well and will co
mbine to create a significant presence in Eastern Europe.
company news
Tata Tea gains a firmer ground in the ET's Brand Equity Survey
Tata Tea has been ranked in the 20th position among 275 brands (195 consumer pro
ducts and 80 service brands) in the Most Trusted Brands Survey conducted by The
Economic Times this year, which makes it the only tea brand to figure in the top
50 list. For Tata Tea it is a twenty step up ahead of the previous year's ranki
ng in which it was placed only in the 40th rank as reported by The Economic Time
s' Brand Equity dated December 15, 2004.
The Most Trusted Brand Survey, the brainchild of the Brand Equity (the ET supple
ment) and the ET Intelligence Group, is conducted every year by the research age
ncy AC Nielsen ORG-MARG. It is reported to be the largest of its kind in India w
ith a sample size of over 7000 consumers distributed across socio-economic class
, age, sex, income and geography. The Survey aims to identify the brands that bo
nd the best with consumers. "They are not just the brands that are most familiar
, they are the brands that consumers believe provide quality and reassurance."
The brand attributes considered by the survey for evaluation are consistent high
level of quality, value for money, definite brand consideration during a produc
t purchase, popularity even among posterity, uniqueness, ability to evoke a feel
ing of confidence and pride among users and the very specialty of the brand that
has some unique feelings associated with it !
The ET reports, "Tata Tea again proves it's hard to keep a good brand down even
in a commoditised market like tea - perhaps the recent acquisition of Tetley boo
sts the perception of the brand among consumers. It rounds out the Top 20, and i
s in fact the only tea brand in the Top 50 with the nearest competition, Brooke
Bond, languishing at No. 77 "
A microscopic view of the Survey reveals that Tata Tea stands at the 18th positi
on among 20 other brands as preferred by the housewives. In a ranking across geo
graphic regions, it is ranked 4th by the North and 13th by the East region. The
most strikingranking that brings cheers to the Tateans is that Tata Tea ranks 2n
d among 27 beverage brands, relegating the rivals Brooke Bonds to 14th position
and Lipton to 18th rank! That's a heady mix indeed.
KOLKATA: Tata Tea posted a profit after tax of Rs.391.47 crore (Rs.3.91 billion
) for the year ended March 31, 2010, as compared to Rs.159.06 crore (Rs.1.59 bil
lion) for the year ended March 31, 2009, the company said in a filing in the Bom
bay Stock Exchange.
The net profit of the company has increased by 146.11 percent.
Total income has increased from Rs.1,524.64 crore (Rs.15.24 billion) for the yea
r ended March 31, 2009 to Rs.1,836.84 crore (Rs.18.36 billion) for the year ende
d March 31, 2010, the company filing said
1. The Board today approved the signing of a 50:50 Joint Venture with Pepsico In
dia Holdings Private Limited in the area of Non-carbonated Ready to Drink bevera
ges focused on health and enhanced wellness. The mandate of the Joint Venture is
to develop its business internationally.
2. The Company s overseas subsidiary acquired a minority stake of 10% in Activate
TM a performance beverage and bottled water company in the United States. The su
bsidiary has an option to increase its stake in this Company.
3. Total operating income for the quarter at Rs 1446 crores increased by 3% as c
ompared to the corresponding period of the previous year despite adverse transla
tion impact.
4. The Company continues to focus on building new capabilities and investment be
hind new products and brands. Profit before exceptional items for the quarter at
Rs 111 crores has been impacted as compared to the corresponding period of the
previous year by higher commodity costs and higher expenditure on growth initiat
ives. Profit before and after Tax is lower compared to the corresponding period
of previous year, since last year there was a one time profit on sale of shares.
5. Exceptional items for the quarter comprises of expenses relating to restructu
ring of business (Rs 28 crores) and translation impact on foreign currency hedge
s in overseas subsidiaries (Rs 4 crores). In the corresponding period of the pre
vious year exceptional items mainly consisted of profit on sale of shares held i
n Rallis India Ltd (Rs 186 crores), favourable exchange impact of translating fo
reign currency assets / currency hedges in overseas subsidiaries (Rs 40 crores),
offset by expense relating to restructure of business (Rs 4 crores) and other e
xceptional items (Rs 2 crores).
6. With effect from record date July 2, 2010, the face value of the holding comp
any s shares has been subdivided from Rs 10 per share to Re 1 per share. Earnings
per share have been computed based on the revised number of shares Earnings per
share (EPS) (basic and diluted- not annualised) for the quarter ended September
30, 2010 of Rs. 0.83 is lower than Rs 4.65 reported for the corresponding period
of the previous year mainly due to the impact of exceptional items. Net of the
impact of exceptional items, EPS (basic and diluted not annualised) for the curr
ent quarter is Rs.1.15 as compared to Rs 1.79 for the corresponding period of th
e previous year.
7. The major part of the Company s business arises from operations outside India a
nd through its subsidiaries. In view of this the company has opted to publish on
ly consolidated results for this quarter 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 Op
erating Income, Net Profit after Tax and Earnings per share of the holding Compa
ny s standalone financial results are given below: Rs. in Crores Three months ende
d September 30 Six months ended September 30
2010 2009 2010 2009
Total Operating Income 447 426 902 846
Profit after Tax 30 258 67 301
Earnings per Share - Rs (Not Annualised) 0.49 4.17 1.08 4.87
Earnings per Share - Rs (Not Annualised) - excluding impact of exceptional items
0.71 0.64 1.30 1.36