BackTata Coffee Q4 PAT climbs 9%, net income surges over 10%, Board declares dividend
Tata Coffee, a small-cap company, closed today with a market capitalization of ₹3,882.96.
PremiumTata Coffee, a small-cap company, closed today with a market capitalization of ₹3,882.96. One of the largest integrated coffee production and processing companies in the world, Tata Coffee is also the largest commercial producer of Indian origin pepper. A subsidiary of the Tata Group is Tata Coffee. The Tata group, an international conglomerate with its headquarters in India and more than 100 distinct functioning firms, was founded by Jamsetji Tata in 1868.
“We would like to inform you that the Board of Directors have recommended a Dividend of Rs.3/ per Equity Share [Face Value of Re. 1/- each] for the year ended March 31, 2023. This Dividend upon approval by the shareholders at the ensuing Annual General Meeting [AGM], will be paid within 30 days from the date of the AGM," said the Board of Directors of Tata Coffee in a stock exchange filing today.
The company recorded a net income of ₹736.06 Cr during the quarter ended March 2023 compared to the net income of ₹663.36 Cr reported during the year-ago quarter, representing a rise of 10.95%. Whereas the total income for the financial year ended March 31, 2023 was ₹2879.56 Cr as against ₹2389.23 Cr reported during the previous year.
Tata Coffee said in a stock exchange filing that “Total Income of Eight O'Clock Coffee Company, held through the Company's Overseas subsidiary, Consolidated Coffee Inc., for the Financial Year ended March 31, 2023 was USD 186.29 Million compared to USD 174.54 Million of the previous year."
The company said its net profit stood at ₹70.34 Cr during Q4FY23 compared to ₹64.28 Cr during Q4FY22, up by 9.42% YoY whereas its consolidated PAT for the financial year ended March 31, 2023 was ₹321.16 Cr compared to ₹233.4 Cr of the previous year. The group's consolidated PAT (net of non-controlling interest), for the quarter ended March 31, 2023 was ₹48.80 Cr compared to ₹40.78 Cr for the corresponding quarter of the previous year.
The EPS of Tata Coffee stood at ₹2 61 during Q4FY23 compared to ₹2.18 reported in the year-ago quarter.
The shares of Tata Coffee closed today on the NSE at ₹207.50 apiece level, up by 0.34% from the previous close of ₹206.80. The stock touched a 52-week-high of ₹251.70 on (06-Sep-2022) and a 52-week-low of ₹188.75 on (26-May-2022). During Q3FY23, the company recorded a promoter shareholding of 57.48%, FIIs stake of 2.69%, DIIs stake of 5.59% and a public stake of 34.22%.
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