INTEGRATED ANNUAL REPORT 2020-21

Transforming for Better

Corporate Identity

Building on a
robust foundation

Tata Consumer is a consumer products company, with offerings across Food, Beverages and Out-of-Home Retail, and is home to diverse iconic and well-regarded brands. We continuously strive to elevate the Food and Beverage experience for our consumers.

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our vision

To build better lives and thriving communities

Where we want to go

A commitment to build better lives inspires us to create better products, deliver greater value to our stakeholders and encourage our consumers to make healthy choices. We aspire to help communities where we live, work and serve by engaging with them in a meaningful and sustainable way.

our mission

Passionately growing and innovating every day

How we get there

Passion is a very important aspect of our day-to-day actions. It allows us to dream, take calculated risks and have fun along the way as we create, nurture, grow and innovatively deliver the very best for our consumers.

Key highlights FY 20-21

29%

Growth in revenue for the India business# with robust double digit volume growth across segments

8%

Growth in revenue for the International business (constant currency 5%)

101%

Free Cash Flow (FCF)* to EBITDA, up from 81% in FY 19-20

Proud to be a part of Nifty 50

On 31st March 2021, Tata Consumer Products became the fifth Tata Group company to be included in the Nifty 50 index

# Includes India Beverages & India Foods business,

including NourishCo as a subsidiary effective May 2020

* FCF to EBITDA ratio is for pre-tax Free Cash Flow

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Leading
with Brands

TEA

Black tea | Green tea | Specialty tea | Fruit & Herbal tea | Cold infusions | Iced tea | Fortified tea

BRANDS

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COFFEE

Whole bean | Ground | K-Cups (pods) | Instant coffee

BRANDS

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FOODS

Salt | Pulses | Besan (Gram flour) | Poha (Flattened rice) | Ready-to-cook mixes | Spices | Breakfast cereals | Healthy snacks

BRANDS

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LIQUID BEVERAGES

Natural mineral water | Glucose based hydration drinks | Juice based ethnic drinks | Ready-to-drink | Fortified water

BRANDS

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OUT-OF-HOME

Cafes | Concept tea cafes

BRANDS

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FY 20-21 in review

Committed to
delivering better

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FINANCIAL

We maintain an unwavering focus on quality, consumer trends and operational efficiency. This reflected in our strong financial results across key parameters in FY 20-21.

20%

Rs.11,602 Crs

Revenue from Operations

20%

Rs.1,569 Crs

EBITDA
 

102%

Rs.930 Crs

Group Net Profit

~Rs.2,421 Crs

Net Cash*

*Cash and Cash equivalents (net of total borrowings) as on 31st March 2021

YoY growth

SALES AND DISTRIBUTION (S&D)

We are modernising our distribution to ensure our products reach consumers across diverse markets with best-in-class service.

We are digitising the network to access real-time data and results and enable proactive decision-making.

3X

Rural feet on street

6.5 lakh

Outlets billed directly (as on 31st March 2021)

100%

Direct channel partner automation

1,500

Direct distributors

*All numbers as of 31st March 2021 for India

OPERATIONAL

We are focused on integrating and streamlining our operations to maximise our effectiveness.

185.4 Mn Kg

Sales Volume – Tea

17 Mn Kg

Sales Volume – Coffee

1,332 Mn Kg

Sales Volume – Salt

Sales volume numbers include India and international business.

PEOPLE

The well-being and professional development of our people is paramount to us. We are an equal opportunity employer, and we encourage and nurture a diverse and inclusive culture.

34%

Women in the workforce

33,511

Hours of training sessions

PROCUREMENT

We are committed to bringing our consumers only the best of nature and science. Sustainable sourcing is at the heart of our responsible procurement efforts.

60%

Of procurement for India tea business from trustea‑certified farms

~100%

Of procurement for Tetley tea in the International business from Rainforest Alliance‑certified farms

COMMUNITY

We contribute to the community around us through our sustainability programmes and CSR efforts. Our employees underline their philanthropic spirit through volunteering and community participation.

800,000

Lives benefited through our sustainability and CSR programmes

Rs.4,500+

Employee volunteering hours

SUSTAINABILITY

Being mindful and making a positive difference to the land and the environment around us is integral to our strategy and we strive to keep our ecological impact in check.

Among the 27%

Of companies that reached Leadership level in the Food & Beverages processing group globally on the CDP Index 2020

Zero waste

To landfill for global Beverages business

53%

Recyclable packaging for Tata Salt (FY 20-21)

Global Presence

Focused
global presence

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*Note: Region-wise share of consolidated branded revenue

*Note: Region-wise share of consolidated branded revenue

*Note: Region-wise share of consolidated branded revenue

*Note: Region-wise share of consolidated branded revenue

*Note: Region-wise share of consolidated branded revenue

Meet our Board Meet our Leadership Team
N. Chandrasekaran Chairman
Chairman’s letter

“Building a stronger organisation. Intrinsically.”

Tata Consumer Products embarked on its transformation journey and has made significant progress despite the pandemic. As a first step, the integration of the India Food and Beverages business has been substantially completed and we have started to see synergy benefits from this integration.

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Sunil D’Souza MD & CEO
MD & CEO’s perspective

“Embarking on a holistic transformation to achieve our vision.”

We began with building an integrated, unified organisation so that we would have a strong foundation. We redefined our vision, mission and values to reflect our path forward.

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Strategy framework

Robust strategies
to achieve our
ambition

Strengthen and accelerate core business

We are strengthening our businesses across geographies. The merger with the Foods business of Tata Chemicals in February 2020 and the change in our ambition marked a strategic shift in our direction.

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Drive digital and innovation

We are driving digital transformation across the value chain and defining a clear roadmap to simplify and synergise processes.

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Unlock synergies

Following the merger and formation of Tata Consumer Products Limited, we set out to integrate and synergise networks across distribution and supply chain, and drive savings through scale and harmonisation of processes.

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Explore new opportunities

Concerted efforts have been made towards channelising our deep market understanding and expertise into finding newer ways to generate value.

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Create a future-ready organisation

During the year we underlined a four-pronged approach to building a future-ready organisation.

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Embed sustainability

We are working towards all-round sustainable performance and have instituted programmes and initiatives towards sustainable sourcing, natural resource management, climate leadership, circular economy and community development.

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Key Performance Indicators

Measuring
our progress

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COVID-19 Response

Navigating the crisis with resilience

We have incrementally stepped up our plan of action against the pandemic since last year to respond as circumstances demand.

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KEEPING UP OUR
EFFORTS FROM LAST YEAR

Safety and well-being initiatives with flexible work model for our employees

Partnering the government, business and channel partners to connect consumers with essentials

Keeping our factories operational at capacity to meet the needs of consumers

Conceiving innovative marketplace models

Making contributions and aiding essential workers and the community

India business performance

Delightful products. Stronger value proposition.

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International business performance

Consolidating international presence

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Emerging consumer trends and behaviour

Understanding the dynamism of the consumption landscape

The pandemic has reconfigured our lives and brought a fundamental shift in consumer trends globally and in India. With altered food habits and more focus on health and wellness, consumers’ purchase decisions are now being guided by a host of new factors, including value-for-money products and convenience.

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Business model

A disciplined approach to creating value over the long term

Our execution-driven approach is underpinned by a value creation model and global expertise, and consideration of diverse stakeholder interests.

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Risk Management

Managing our principal risks and uncertainties

As we transform our business and expand our product portfolio, understanding and managing our principal risks becomes more important than ever.

We have listed below the risks that we think are most material to our business and performance at this time. We also explain some of the mitigating actions that help us manage these risks.

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