Conference Call with Tata Coffee Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Tata Coffee announced Q4FY23 results: Consolidated Q4FY23: Total Income for Q4FY23, higher at Rs 736 crore compared to Rs 663 crore for Q4FY22 up by 11% Tata Coffee's Vietnam operations continue to deliver strong sales with improved profitability driven by higher sales of premium products. It has a robust healthy order pipeline. Consolidated Profit for Q4FY23 was higher at Rs 70 crore compared to Rs 64 crore in Q4FY22. Standalone Q4FY23: Total Income is higher at Rs 279 crore in Q4FY23 compared to Rs 245 crore for Q4FY22, representing an increase of 14% The above Total Income includes Dividend received from Overseas Subsidiary of Rs 10 crore Instant Coffee business in India registered higher turnover of around 17% driven by higher realisations and better product mix, though sales to certain geographies like Africa continue to be impacted by lower demand. FY23: Consolidated Total Income for FY23 stood at Rs 2,880 crore, compared to Rs 2,389 crore in FY22, an increase of 21%, driven by improved realisations in EOC, Instant Coffee and Coffee Plantation businesses of the Company. The overall profitability of the Instant Coffee business as well as its Plantation business showed improvement over the previous year aided by improved realisations, albeit lower crop and challenges in the Tea operations. The EOC performance was impacted due to lower bag volumes and higher input costs. The Consolidated Profit before Tax for FY23 stood at Rs 408 crore, compared to Rs 311 crore for FY22, after considering one time profit on sale of one of its properties. The Company has announced a Dividend of Rs 3 per share (300%} for FY23 compared to Rs 2 per share in FY22. Commenting on the performance, Chacko P Thomas, Managing Director, Tata Coffee Limited, said "The standalone performance of the company was good in the rather challenging macroeconomic situation with a good performance by our Instant Coffee business. Tata Coffee's Vietnam operations continue to be robust with a healthy order pipeline and the operations are running at maximum capacity. While sales to certain geographies like Africa are still muted, we have opened alternate markets and we are hopeful of recovery in the African markets too. Our Coffee Plantation performance was good, aided by improved realizations due to premiumization, though our Robusta crop was negatively impacted due to adverse weather conditions. Our Subsidiary, Eight O'clock Coffee [EOC] has registered higher revenues though the profitability for Q4FY23 has been impacted due to higher input costs and lower volumes. Overall it has been a very satisfying performance". Result PDF
Conference Call with Tata Coffee Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Tata Coffee announced Q3FY23 results: Consolidated Q3FY23: Total income for the Q3FY23 higher at Rs 755 crore compared to Rs 634 crore for the corresponding Q3FY22, an increase of 19%, driven by higher realisations in EOC and Instant Coffee businesses of the Company. Tata Coffee's Vietnam operations continue to deliver robust sales with improved profitability driven by higher sales of premium products. It has a healthy order pipeline. The Group's consolidated profit for Q3FY23 stood at Rs 38 crore lower than the corresponding Q3FY22 primarily due to lower profits of Eight'O Clock Coffee. Standalone Q3FY23: Standalone total income higher at Rs 295 crore compared to Rs 239 crore for the corresponding Q3FY22, representing an increase of 23% on increased revenues from Instant Coffee and Plantation businesses (mainly Tea). The above total income includes dividends received from overseas subsidiary of Rs 14 crore. Commenting on the performance, Mr. Chacko P Thomas, Managing Director, Tata Coffee Limited, said "The performance of our Instant Coffee business continues to be robust. Tata Coffee's Vietnam operations continue to be strong with a healthy order pipeline. There is however continuing inflationary pressure on costs and impact on Instant Coffee sales in some geographies. Our plantation performance is subdued due to declining coffee prices, though the outlook for crops is good. Our subsidiary, Eight O'clock Coffee [EOC] has registered higher revenues though the profitability for the quarter has been impacted due to higher costs." Result PDF