Tata Coffee

May 26, 2022
1. The Dy. General Manager 2. The Secretary

Corporate Relationship Dept. National Stock Exchange of India Ltd
BSE Ltd. Exchange Plaza, 5th Floor, Plot No. C/1,
Phiroze Jeejeebhoy Towers, G Block, Bandra-Kurla Complex
Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai – 400 051
Scrip Code No: 532301 Scrip symbol: TATACOFFEE
Dear Sir(s),
Sub: 79th Annual General Meeting - Annual Report FY 2021-22
Further to our letter dated May 11, 2022, we would like to inform you that the 79th Annual General
Meeting (“AGM”) of the Company will be held on Monday, June 20, 2022 at 11.00 A.M. (IST)
through (“VC”) / Other Audio-Visual Means (“OAVM”).
The Board of Directors have recommended a Dividend of ₹2.00 per equity share of ₹1 each, for
approval by the shareholders at the AGM.
We would like to inform you that the Dividend, as recommended by the Board, if declared at the
AGM, will be paid on or after June 23, 2022, as under:
(i) to all beneficial owners in respect of Shares held in electronic form as per details furnished by
the Depositories for this purpose, at the end of June 3, 2022.
(ii) to all Members in respect of Shares held in physical form, after giving effect to valid transfer,
transmission or transposition requests lodged with the Company on or before June 3, 2022.
Pursuant to Regulation 34(1) of Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“the Listing Regulations”), we are submitting herewith
the Annual Report of the Company for the Financial Year 2021-22, which includes the Notice of AGM
as well, is being sent in electronic mode to the Shareholders of the Company.
57, Railway Parallel Road, Kumara Park West, Bengaluru 560 020
Tel: 91 80 2356 0695 - 97, 2356 1976 - 81 Fax: 91 80 2334 1843
Registered Office: Pollibetta, 571 215, Kodagu, Karnataka, India
Corporate Identity Number (CIN): L01131KA1943PLC000833
Email: [email protected] , Website: www.tatacoffee.com
The Annual Report for FY 2021-22 including the Notice of AGM has also been uploaded on the
Company’s website at:
https://tatacoffee.com/sites/default/files/collaterals/Annual%20Report%20FY%202021-22.pdf
Thanking you,
For Tata Coffee Limited
Anantha Murthy N
Head – Legal & Company Secretary
Encl.: Annual Report FY 2021-22
C.C.
1.National Securities Depository Ltd.

2.Central Depository Services (India) Ltd.
3.TSR Consultants Pvt. Ltd. – Registrar & Share Transfer Agent
57, Railway Parallel Road, Kumara Park West, Bengaluru 560 020
Tel: 91 80 2356 0695 - 97, 2356 1976 - 81 Fax: 91 80 2334 1843
Registered Office: Pollibetta, 571 215, Kodagu, Karnataka, India
Corporate Identity Number (CIN): L01131KA1943PLC000833
Email: [email protected] , Website: www.tatacoffee.com
Annual Report 2021-22
Celebrating Goodness.
Since 1922.
Index
Corporate Review
01
Celebrating Goodness. Since 1922. 01
Statutory Reports
Notice 45
45 124
Financial Statements
Standalone
Evolution of coffee 02 Board’s Report 61 Independent Auditor’s Report 124
Pursuit of goodness: 06 Report on Corporate Governance 85 Balance Sheet 134

A Tata Coffee Constant Statement of Profit and Loss 135
Management Discussion and
Reach 10 Analysis Report 110 Statement of Changes in Equity 136
Addressing operational challenges 12 Business Responsibility Report 114 Cash Flow Statement 137
Leadership address 16 Notes on Accounts 139
Business and performance review 18
Acquisition and expansions 24
Consolidated
Independent Auditor’s Report 178
Plantation and inter-cropping culture 28
Balance Sheet 184
Sustainability: 32
An unremitting commitment Statement of Profit and Loss 185
Relationships 34 Statement of Changes in Equity 186
Board of Directors 36 Cash Flow Statement 187
Prestigious acclaims 40 Notes on Accounts 189
Corporate information 42
Key Highlights 43
A 100-year legacy of homegrown goodness

A tale of purposeful consolidation and spirited growth
A charter of change in the Indian coffee industry
The story of coffee in India, and the Company
that has always been synonymous with it.
Celebrating Goodness.
Since 1922.
In defining the legacy that Tata Coffee has built, very few
philosophies are as telling as the Company’s long-standing
pursuit of creating and inspiring goodness.
The goodness that we have inherited from the inspiring
leadership of Mr. P.G. Tipping, Mr. Ivor Bull, Mr. Darbari Seth and
other leaders who succeeded them as well as the ideologies of
sustainability and quality for which the Company has
always rallied.
As a leading coffee planting and processing company in India,
and the largest corporate producer of Indian-origin pepper,
we have kept this legacy alive in every sip of our coffee and tea
and in every whiff of our pepper and more. We have worked to
encircle goodness around our people, the natural environment,
and within the communities where we operate.
Tata Coffee remains the sum of its experiences - of rising from Looking back at our
global-level crises and setbacks, innovating to stay afloat annual performance
through myriad business waves, paying equal attention to
products, processes and standards of living with enduring S817 CRORE
affinity to ecological friendliness, transparent corporate Revenue from operations
approach and always listening to its stakeholders.
In this edition, we pay homage to the alliance of two S122 CRORE

Profit before tax
behemoths (Consolidated Coffee Estates with Tata Tea
Limited) and the bold strides it made in the world of coffee.
We salute the ideals of trust and sustainability to create a
circle of goodness in the ecosystem. S5.45
Earnings per share
We celebrate that persistent quest for excellence and quality,
which continue to guide the Tata Coffee of today
Numbers as on March 31, 2022
and tomorrow.
EVOLUTION OF COFFEE
Becoming of a
liberal lifestyle beverage
The coffee world is full of strange and riveting stories.
In tracing the spread of coffee, one meets monks and merchants, leaders
and labourers, even pirates and popes.
Coffee’s earliest written reference is by As coffee travelled the world, Europeans The popularity of artisanal coffee shops
Rhazes (circa 850-922 A.D.), a highly embraced it with open arms and took its today is owed to its repute that it is much
respected philosopher, astronomer and propagation upon themselves. By about more than a caffeine kick.
physician in Baghdad. 1715, there were 2,000 coffee houses Today people are invested in knowing
in London, even becoming sanctuaries about the origin of coffee strains, its
Coffee adventure narratives circulated
for English intellectuals fighting for unique flavours, and the environment in
around the world oscillate between myth
political liberty. which it is grown and consumed, than
and reality, many of which speak of the
ever before.
Indian monk Baba Budan - the first man Demand for coffee continued to grow
to break the Arab coffee monopoly. exponentially around Europe and in its
colonies, which initiated coffee cultivation
in parts of South America and Asia.
It is a celebration of the sensory

experience, rather than the beverage
alone, that has driven coffee’s
global success.
It is all in the way it brings people
together.
2 Celebrating Goodness. Since 1922

Corporate Statutory Financial
Review Reports Statements Home
Born of the Baba Bringing coffee in a beard Bested by the British

Budan Beans to India in India
Coffee has its own charming story of
The coffee plant, while it originates in The first coffee house in the West was
first arriving in India, routed through the
Africa, its cultivation and propagation are built in Italy. While English travellers
misty Chandragiri Hills of the southern
due to the Arabs. There the concoction wrote about coffee in their works, the
Chikmagalur district.
made from coffee beans were known as first coffee house in Oxford, England was
bunchum and primarily recorded for its Coffee remained a strictly Arab affair not set up until 1650. The students of
medicinal properties. until the 16th century, when an Indian Sufi Oxford immediately took to the beverage,
monk, Baba Budan visited the Holy Land even as the Dutch experimented with
The Arab monks from Yemen were the
of Islam for Hajj. On his return, he made a systematic cultivation in Indonesia
first to systematically cultivate the coffee
stop at the port of Mocha, where coffee and Ceylon.
plant and make a drink with its roasted
was traditionally offered as a tonic to
beans, qahwa, an Arabic word associated
disgruntled pilgrims. Traversing tumultuous terrains
with ‘wine’ and from which, comes the
It was in 1877 that the first British
word ‘coffee’. Soon the beverage began Excited after consuming qahwa, Baba
surveyors were sent to examine the
travelling across borders into Mecca, Cairo Budan chose seven beans from the magic
Western Ghats through Kodaikanal.
and Medina. It was in Mecca that the first plant to bring back to India, hidden in
In 1879, Henry Gribble Turner, on his
café, Kaveh Kane was established. his enormous beard, as legends suggest.
long leave in India, climbed peaks and
He planted these seeds in the Indian
More of these cafés sprung up and marched over long distances to discover
hills from which, it is believed, that seven
became recreational centres where the future cultivation possibilities of
coffee trees sprouted up: the first Arabica
people could play chess, listen to the vast stretch of country. Climate and
coffee trees on foreign soil.
music and dance. Its popularity began rainfall seemed suitable, with jungle soil
interrupting with people’s mosque visits, In Karnataka, the monk’s hideout and his in plenty. An obstacle on this road was
making angry clergies argue against the tomb is preserved on the hills where he that there were none, which made him
beverage’s influence. The culture around planted his coffee trees, which now bear collaborate with Poonyatu Rajah, the
coffee traversed the Middle East to the his name. Zamindar of the Kanan Devan hills to
Ottoman Empire in Constantinople and develop land and roads for freight and
then inevitably across Europe. produce to travel uphill and down.
Pioneers in planting soon began to flock
the coffee district, of which one was
John Payne who opened Talliar for H.G.
Turner in 1881. He cut the road between
Devicolam and Periakanal and his
zigzags for ponies, donkeys and bullocks
remained famous in the region for years.
A particularly historic undertaking on
their part was the erection of the big
aerial ropeway from Koranganni to Top
Station, which alleviated the difficulty of
traversing the rocky and steep country
and prevented elephants, prevalent
in the region, from interfering with
plantation work.
Annual Report 2021-22 3

EVOLUTION OF COFFEE
Continuing
cult of coffee…
This rich, dark liquid has persistently flown across geographies and greased the wheels of
economies around the world. Coffee’s intoxicating and aromatic flavours, psycho-active
impact and social currency drive its popularity, prompting the global coffee industry to
continuously bring the new and the premium to those beguiled by coffee charms, and
adding meaningfully to the coffee culture.
An espresso obsession that became a phenomenon

Once espresso machines from Italy, that This was the relaxing hospitable Coffee in popular culture has come to be
could extract more flavour from the environment that he wanted to create at associated also with IT professionals who
grinds, got integrated into the coffee his chains, and this is the energy around have named one of the main software
scene, espresso coffee took over global modern-day Starbucks cafes around the languages after a coffee origin: Java.
cities. Howard Schultz, a manager at a world and in India, attracting throngs
little-known coffee shop in Seattle, fell of people who spend hours in the
in love with Italian espresso during a ambience and contribute to the surge
business trip to Milan. He bought out the of the coffee cult across advanced and
owners of this coffee shop and initiated emerging economies.
an aggressive expansion campaign
that would make the enterprise he
birthed– Starbucks –one of the world’s
most recognisable brands with chains
established across the world.
Schultz saw the community within the
coffee bars themselves, taking the form
of a ‘third place’ – between home and
work – where people gathered, snacked
and gossiped. Unlike pubs, the coffee bar
was, as it is today, free from stigma, and a
suitable meeting place to be found in, at
any time of the day, for anyone.

Going back to Vietnam’s

connection with coffee
European settlers introduced the plant to
their colonies in Asia and South America:
Portugal brought coffee to Brazil, France
to Vietnam, and Spain to Colombia. Coffee
cultivation came to be linked with the slave
trade, which was not abolished until the
1850s in Colombia and the 1880s in Brazil.
Coffee remains vital across these economies,
and today Brazil, Vietnam and Colombia are
three of the largest producers of the raw
coffee bean.
Coffee must build on

what it was yesterday to
remain what it is to the
world today…
India acquiring a new character of coffee

India’s coffee culture has matured in leaps with a specialty coffee
wave brewing within it. Affluent Indians are contributing to it
by paying for specialty coffee, infused in small batches, and
customised for different palates.

PURSUIT OF GOODNESS: A TATA COFFEE CONSTANT
A pursuit and a purpose

that took many forms
There are not many places in India that match the beauty of Coorg and
far lesser districts, which compare to its natural splendour or ideal
coffee-growing conditions, The British saw the site for its potential and
raised expansive estates in the region.
In 1922, the amalgamation of two It opened new avenues for the business
Edinburgh based companies, Coorg and took the enterprise on to its best
The first 50 years of the
Co. Limited London and Pollibetta growth journey. Company is a lesson in
Coffee Estates Co. Limited managed by
Until 1940, no British or native coffee
navigating emerging
Matheson & Co, was the beginning of
grower in India thought to cower behind challenges, dangers and risks
what came to be known as Consolidated
Coffee Estates.
the protection of any government that a planting company
for favourable prices. Coffee entered faces, and yet it highlights
In India, it did exactly what its name the country freely and India could
suggests – bringing the large and widely export freely without controls to
what an exciting and
dispersed, British-run estates in and protect the small grower against the rewarding pursuit it can be.
around the Coorg district, together large ones, the consumer against the
as a company to leverage its scale traders, or the Indian producers against
and influence. foreign producers.

The colossus
we started out as…
The birth of the Consolidated Coffee Estates Limited in 1922 heralded

a seismic shift in the Indian coffee culture. With a pioneering spirit, this
company of British heritage, brought with it the revolutionary coffee
pooling system and the possibility of inter-plantation of commercial crops
into the Indian coffee culture. The alliance of CCL with Tata Tea in 1991-92
fanned the Company’s growth prospects.
The liberalisation of the Indian economy meant

new opportunities were in sight, which few
companies could leverage as good as Tata Tea
Limited. Collectively, they charted a legendary
path, sharing a vigour for modern agricultural
management, strong R&D, and market
expansion expertise.

PURSUIT OF GOODNESS: A TATA COFFEE CONSTANT
The connoisseurs
we are now…
We are one of the largest integrated

coffee cultivation and processing
Offerings Mission
companies in the world. We are also the Create distinctive long-term value
largest corporate producer of Indian- for all stakeholders with Coffee and
origin pepper in the world. Allied Plantation products embracing
sustainable practices.
The Company we are today

is an outcome of spirited
innovation in natural and Green Bean
Values
field resource utilisation and
continuous sophistication of
products and processes over
100 years.
Instant Coffee Safety Customer focus
Tea Responsibility Innovation & Agility
Pepper People-centric Transparency

The circle of goodness

we are building...
Key operational figures We approach the future with a gusto

to enhance our sustainably crafted,
25 2
inter-cropping methods, product
diversification, geographic expansion
efforts, cutting-edge resource management
Estates Roast and ground techniques and differentiated community
facilities empowerment programmes.
Tradition and modernity

18 42 will always work hand in
hand at Tata Coffee. As will
Coffee estates Country export environmental enrichment
presence
and economic advancement.
6 15
Tea estates Countries from where
we import coffee
1 ~53%
Hybrid estate Women in the
workforce
~10,000 HA ~2.6 lakh tonnes

Of land growing coffee, of CO2 offset annually
tea and pepper, as a carbon sync company
in South India
3
Instant Coffee plants
(Toopran & Theni, India
and Binh Duong, Vietnam)

REACH
A century of spreading delight.

Far and wide.
Staying true to the expansion
vigour of our leaders and
patrons, we have kept up
our efforts to continuously
tap newer geographies and
bring differentiated offerings
to more people around the
world.
USA
Green Bean Instant Coffee

• The Middle East • The Middle East
• Western Europe • Western Europe
• India • ASEAN
• USA • Russia
• Australia • India
• Asia Pacific
• West Africa
Pepper Tea
• India • China
• USA • India

Russia
ASEAN
Western
Europe
China
Asia Pacific
Middle
East
India
West
Africa
Australia

ADDRESSING OPERATIONAL CHALLENGES
Seeing it all
and then some…
When Consolidated Coffee Estates began its operations, India had
everything going for it in the world coffee market. Indian coffee fetched
20% more premium compared to other origins available in London, with
its choice of Coorg and Nilgiris coffee.
However, things began taking a different turn 1929 onwards when the
cold winds of the World Economic Depression and the coffee export
crisis during the World War hit home.
As watershed as these setbacks have The journey has not always been smooth
been, they were fodder for the Company’s sailing. Challenges have cropped up in
maturity in the long run. The learnings every decade, but with strong leaderships
from each event were swiftly embraced smart solutions to problems and
to face challenges of the contemporary unwavering community support, we have
world, with resilience and agility, learned to stay ahead of the game.
including the unprecedented pandemic.

Coffee caught in crisis

Coffee prices crashed in the face of the Depression and the Company had no dividend to offer
to its shareholders for nine years. An estranged recovery was further bruised by the blows of
the Second World War in 1939.
The second year of the war saw the export-dependent estate productions struggling, with the
export market disappearing following German sweep of Continental Europe. The unexported
coffee affected exporters, small holders, and the overall home market.
Leading Indian coffee out of the woods

Winds of change began blowing in the With incredible foresight, he introduced
good direction with the appointment of the surplus pooling system in coffee to
Ivor Bull as the General Manager of the combat the mounting crisis of coffee
Indian estates of the Company in 1936–the going unexported.
same year as the Coffee Cess Committee
He helped transform the Coffee Cess
was set up in India. His deep conviction
Committee into a Marketing Board that
and unwavering efforts to turn around
could borrow money against the security
the fortunes of the Company have been
of the pooled coffee and pay growers
immortalised in the Company’s history.
with it. When the world was in no position
Bull brought with himself, his network of to fix a viable price of fine Indian coffee,
grower and planter associations beyond Bull pressed for the government to
the district. He came from a place of allocate dedicated experts in studying
experience in contemporary farming, and determining fair price of coffee.
understanding of the developments of the
war, India’s political scenario, the Quit India Bull’s reticence to criticism and his grit inspired more
Movement of 1942, and what the freedom
struggle meant for British interests in
planters to put faith in the pooling system. This led to
the Company. the government promulgating the Coffee Ordinance that
sanctioned the pooling system, which became a permanent
feature in coffee marketing.
Translating love and trust into success

Bull channelised his attachment with Under Bull’s leadership, the Company
Coorg and the faith he had in the replanted ~3,300 acres of old Arabica
By the 1960s, the primarily
potential of the people there, into coffee. The harrowing backlash of Indian Board members of
building symbiotic work relationships for the Second World War and the Great CCL introduced innovative
with local leaders. He began Indianising Depression notwithstanding, he led ideas to improve estate
the management in 1946, introducing K. the Company’s adoption of strong
Bhandari as a manager of Nullore estate. measures to keep the coffee business in
operations. Inter-cropping
His next Indian appointment was K.B. the subcontinent afloat. By 1943, Bull’s with pepper, cardamom and
Somana, who later became the Managing visionary thinking led to the formation of orange, re-planting acres
Director of the Company. Consolidated Coffee Limited. of Arabica and entering
both internal and external
trade, among others, greatly
uplifted the Company’s
position.

ADDRESSING OPERATIONAL CHALLENGES
Calibrating in sync with the

contemporary
In present times, we witnessed two of the most unprecedented years,
which saw everything from supply chain disruptions and rising
inflation to uneven demand and consumption patterns, geopolitical
strains and a worsening climate crisis.
This had a ripple effect on every node in Even as uneven growth becomes a
the value chain, to combat which, we have pattern across the world, we have
studied trends of coffee production across taken active steps in normalising our
origins along with future movements and concentration risks by maintaining a
availability; ease and costs of evacuation healthy trade balance across geographic
and shipping; input costs, including that regions. This has helped us in times when
of raw and packaging materials; market, demand from certain markets remained
capital, currency movements and risks; muted or took longer to peg back to
and consumption pattern across regions. pre-Covid-19 levels. Additionally, in some
Keeping a tab on these alterations economies, there is a noticeable demand
enabled smooth navigation of the bends, pattern shift towards sustainable and
driving of efficiencies in planning and conscious consumption, which will nudge
operations, and innovations in form the portfolio of certified and sustainable
and format. coffee going forward.

Putting premiumisation
and precision to work
Pushing the boundaries of production

Elite plant identification
In recent times, we introduced this exercise with the main Clonal propagation ensures faster establishment and
objective of identification, selection and propagation of early yield (2nd year onwards). Clonal seedlings are deep
high yielding, location specific cultivars to combat climate rooted and provide drought tolerance in field conditions
change, increase productivity and quality. We identify compared to plants raised from seeds.
elite plants based on visual appearance on parameters
such as bush spread, nodes/branch, berries/cluster, among Project Udaan
others, estate-wise for Arabica and Robusta. All elite plants New age technologies like AI, Computer vision, IOT, Data
are registered with unique QR codes to support data analytics and Remote sensing are being employed to
collection. Each year we cull out elite plants based on their make a difference.
performance and real-time data.
As part of our digital strategy, we have been successful
Across ~1.5 crore coffee plants in our plantations spanning in spraying fertil isers vertically on our pepper
various agro-climactic zones and varying weather plantations using tethered in-house designed drones.
conditions, scope for identification of best plants and Our drones have a capacity of carrying ~6.5 litres, which
propagation through clones is immense and upbeat. can spray up to height of upto 100 feet.
The other use cases are under development which
Clonal propagation involves conducting Terrain Profile analysis for Shade
In this form of asexual reproduction using vegetative Management and Waterflow Management system, Soil
parts such as shoots to ensure that the plant’s Moisture Analysis along with Yield estimation using
unique features are retained, true-to-type plants multispectral sensors.
(clones) without segregation can be produced. Seed
propagation takes longer (5 years) to start yielding fruit.
Practicing precision across

plantations
Precision farming is based on the optimised management of inputs
in a field according to actual crop needs or application of inputs at
the right place in the right volumes and on time.
To maintain sustainability with increased productivity, we are
rationalising our fertiliser application based on soil test. Through
this, only the actual requirement of the plants are met without
polluting the environment. Location wise, tailor-made fertiliser
recommendations are given to individual estates to increase
productivity and optimise costs.

LEADERSHIP ADDRESS
Drawing on a remarkable legacy to

create goodness for the future
tribute to the movers and shakers of Tata We recorded our highest ever Green
Dear Shareholders, Coffee and the spirit of sharing goodness. Bean sales. As anticipated, TCVCL also
In this fast-moving world, staying achieved a record full-year production.
We have always kept pace with the times;
resonant and relevant for 100 years The year under review ended with us
changing, consolidating and calibrating
is a journey of great pride for any reaching several milestones, one of which
as situations and circumstances have
organisation. What makes it even more was recording the second highest ever
demanded. Yet if there’s one thing that
eventful for Tata Coffee is its ability to sales from India. Sales from Vietnam also
remained unchanged, it is the inherent
remain the face of change in the Indian witnessed record volumes.
resilience of the enterprise and its people
coffee industry. It is thus an honour to
to always emerge stronger on the other We made significant efforts in increasing
share with you the Annual Report FY
side. We are no strangers to extreme the share of premium/decaf products
2021-22 that celebrates the evolution
external challenges such as those and blends and these products are
of a crop as the world’s most preferred
playing out today – a global inflationary demonstrating good potential for the
beverage. With our stakeholders as the
environment, scarcity in raw material future. We also managed to drive down
central cog in the wheel, this edition is a
supply, exorbitant freight costs and costs through continuous improvement
geo-political tensions. However, such projects and proactive decision-making.
challenges have only strengthened our Our Instant Coffee division has been
resilience and resolve, enabling us to one of the year’s biggest growth drivers,
do more. recording its second-best performance in
Encapsulating our strong terms of sales and profitability and 100%
annual performance capacity utilisation. We achieved several
We are investing our collective energy in breakthroughs in the US market and
conceiving strategic initiatives to combat robust performance in Japan.
fluctuating prices across coffee markets With TCVCL, we achieved peak capacity
and volatilities induced by climate utilisation with the plant operating at
change, which have large-scale bearings ~98% capacity, record production and
on our plantations and its produce. sales in Vietnam despite disruptions and
This includes accelerating optimisation uncertainties and higher profits compared
measures across the business and to last year. We also made impressive
unlocking digital capabilities to become a progress on key strategic pillars by
more future-ready organisation. bringing certified blends. Decaf ensured
Continuous upheavals notwithstanding, ~10% of the business and performance
we continued to grow year on year, was evenly on the positive side across all
with every achievement accompanying key geographies.
significant learnings for the future. This Focusing on the next
robust performance in a year marked with
In a future-oriented move, our Board,
challenges, was a result of peak utilisation
in a meeting held on March 29, 2022,
of production capacities and record
approved a Composite Scheme of
sales, well balanced across key regions.
Arrangement (‘the Scheme’) among Tata
Despite all external deterrents, Instant
Coffee (‘the Company’), Tata Consumer
Coffee India, recorded second highest
Products Limited (TCPL), and TCPL
production volumes, historically. ICD
Beverages and Foods Limited (TBFL),
Theni clocked what has been historically
and their respective shareholders and
its highest production (overall and FDC).

creditors, which upon its effectiveness identification of elite plants and clonal
based on necessary approvals of propagation, which augurs well for the
We have always kept
shareholders/creditors/regulatory sustainability of the farms and biological pace with the times;
authorities and so on, would result in (a) assets, which will be crucial for improved changing, consolidating
demerger of the Plantations Business of yields in the future. and calibrating as situations
the Company, which will move into TBFL
Steadfast on safety and circumstances have
(a wholly-owned subsidiary of TCPL) demanded. Yet if there’s
and (b) amalgamation of the remaining We have seen significant improvements in
business of the Company with TCPL. our Proactive Safety Index scores, which one thing that remained
are measured at our units from a baseline unchanged, it is the inherent
The demerger will create a dedicated
plantation vertical, enabling increased
of 16.70% to 74.89% currently. resilience of the enterprise and
efficiencies and synergies among As part of our business continuity its people to always emerge
various plantation businesses wholly plan and to ensure the safety of our stronger on the other side.
or partly owned by TCPL and better employees, TCVCL successfully carried out
resource allocation. Our shareholders an on-site programme on three different
clients, enabling an average of over 50%
will be allotted shares of TCPL, making occasions during the year. This year we
of our coffee going directly to roasters.
them stake-owners of a larger branded achieved our goal of producing Zero
This reinforces our premiumisation and
consumer products business with Harm Pepper, which means there were
disintermediation commitment.
multiple growth avenues. Integration of no unfortunate incidents during pepper
harvesting at out plantations. We remain committed to uplifting
our and TCPL’s Extraction business under
lives and helping raise more resilient
a single entity through the amalgamation Relentless focus on our communities. Our employees are active
will enable focused management sustainability and social participants at the Tata Volunteering
attention, operational efficiencies, commitments Week (that happens bi-annually) and
revenue and cost synergies, including In Sustainability and ESG space as an they have collectively clocked 63,590+
from commonality of customers, sales outcome of our stakeholder engagement hours during FY 2021-22, touching
and supply chain opportunities through and materiality studies we have identified 330,380+ lives. We also undertook several
enhanced reach and wider variety of material issues and monitors metrics on social impact projects for the people
offerings. This will help us gain market periodic basis including GHG emissions, inhabiting areas around our plantations
share, capital optimisation, leveraging Carbon sequestered, Water use & and the workforce across our plantations,
of sales and distribution network recycled, Waste, Customer complaints including internships and vocational
and simplification of overlapping and governance. training for the youth. For the differently
infrastructure.
The year saw us consuming the highest abled, we organised health camps and
Bringing in optimisation and ever solar units in the Theni Plant. We helped install water purifiers and procure
targeting new efficiencies doubled our wind power procurement equipment.
Cost optimisation and pullback have capacity compared to last year; ~30% of As we tread new avenues to seize novel
always been crucial. Our commercial the power requirement is now being met opportunities for growth and enhance
and logistics as well as procurement through wind energy. We initiated the value, we implore our stakeholders to
and operations teams run the show Carbon Stock and Sequestration Assurance remain as steadfastly by us as has been
proactively, enforcing timely decisions project with a leading organisation their tradition. We believe in our ability
and communicating them effectively to acquire a carbon sequestration to remain resilient, relevant, and resolute
to our sales and marketing teams. We certification for our plantations. through every business cycle and will
managed to pullback more substantial continue to work, to the best of our
The Ernesto Illy International Coffee
savings across the business through abilities, to ensure growth, goodness, and
Award (the Best of the best coffee in the
continuous improvement projects like Six goodwill for the next 100 years to come.
world) and India’s best coffee recognised
Sigma, Lean and Kaizen. With precision
our Jumboor estate. This is a testament to
farming and block level profitability
the sustainability of the coffee grown at
management, we are monitoring and Warm Regards,
our plantations. Over 95% of our Arabica
regulating the requirements at the
is sold as premium differentiated coffee Chacko Purackal Thomas
smallest unit in the farm. This practice is
and over the years, we have built strong
being replicated at all our estates. We also Managing Director & CEO
relationships with roasters and global
made significant developments in the

BUSINESS AND PERFORMANCE REVIEW
Offerings that blend

tradition with modernity
Today, our suit of major products like Green Bean, Instant Coffee, Tea and Pepper
are all about giving consumers a taste of the Tata Coffee goodness. Continuous
innovation and process improvements help us in maintaining product excellence
and leadership among global roasters, instant coffee players, as well as the booming
coffee, tea and pepper markets.
Across our estates and instant coffee plants, we persevere to produce and process
in sustainable ways. Practices like inter-cropping infuse our pepper and coffee with
an inimitable zest and the power of traceability set our offerings apart.
Green Bean
Shade grown and hand-picked, our coffee
Specialty coffee offerings ~8,000 HA
• Micro-Lots Of coffee estates in
beans have always been preferred by the
South India
finest specialty coffee roasters across the • Washed Arabica
world. Years of perfecting our techniques
• Washed Robusta
~8,000 MT
and preserving the ecological balance of
the lush hills of Coorg ensure that we keep • Monsooned
producing the best Arabicas and Robustas
this country has to offer. • Organic and certified Annual capacity of
shade-grown Arabica
and Robusta
13 ~90%
Arabica estates are Of our washed Arabica
Starbucks C.A.F.E. is exported as premium
Practices certified green bean to roasters

Instant Coffee
Crafted from multiple origin beans, and Vietnam – are fuelled by
our instant coffee comes in various renewable energy sources. Our
customised blends that appeal to distinctive variants of instant coffee
the palate of our customers, brands, are packaged in a fully automated
private labels, distributors and large packing unit and delivered across
global roasters. Being eco-conscious, countries like Russia, Africa, Europe
all three of our plants – in Theni and emerging markets like Southeast
(Tamil Nadu), Toopran (Telangana) Asia and the Middle East.
~65%* Offerings
• Freeze-dried
Of renewable energy was
consumed in production • Spray-dried
at the IC factories
• Agglomerated
• Coffee mixes
~8,400 MT
Annual capacity in India
*Averaged over the last 3 years
Tea
Our 6 estates spread across the Anaimalai Certified under RFA, Ethical Tea
Hills in Tamil Nadu, and the districts of Partnership, Trustea and SA8000, our tea
Coorg and Chikmagalur in Karnataka, estates have constantly worked towards
produce ~5 million kgs of the finest South enhancing production by adopting
Indian tea. Delicate care is provided to sustainable and innovative mechanisms.
every hand-picked tea leaf to preserve
their freshness and flavour.
Offerings ~5 MN KG
• CTC Annual tea produce
• Orthodox
•
•
Green
Silver tips ~2,400 HA
• Green speckles Of tea estates in
South India

Pepper
Our drive to achieve excellence has made us the
world’s largest corporate producer of Indian origin
black pepper. Inter-cropped with coffee and tea,
our pepper is cultivated using native shade trees
as natural standards, wherein some vines can
grow to over 10 metres height. While our pepper
nursery carries the Directorate of Arecanut and
Spices Development (DASD) certification, nearly
all 27 varieties of our pepper are also RFA, UTZ and
SA8000 certified. Our ZERO-HARM campaign is
another step towards fulfilling our responsibility
towards our employees and workforce who work in
our operations by putting in place the best safety
practices to prevent any incidents and injuries while
at work.
Offerings
• TGSEB, TGEB and MG1 (11.75, 11.5
and 10) grades of black pepper
• A1, A2 and A3 grades of

white pepper
1.8 MN ~1,000 MT
Pepper vines Of black pepper
across our estates
3 3
Advanced nurseries to Diverse grades of
grow healthy, white pepper
disease-free pepper vines

Eight-O-Clock Coffee
As a testament to our long history of years, this alliance helped Eight O’
forging epic partnerships, the entry Clock to transition from a one brand,
of Eight O’ Clock − America’s Original one format company to a portfolio
Gourmet Coffee – to the Tata Coffee coffee company. The introduction of
Universe in 2006, has been a matter new sub-brands like Barista Blends,
of immense pride. Headquartered in Flavors of America and Early Riser,
Montvale, New Jersey and roasted and alongside selling branded K-cups,
packaged in Landover, Maryland, it is have significantly helped expand the
the fifth largest bagged coffee brand brand’s consumer reach.
in the US in terms of value and volume.
With a heritage and legacy charting 160+
Tata Starbucks
Roastery
True to our values of strengthening
long-term trust, we have continued
to be the exclusive provider of coffee
beans to 140+ Tata Starbucks outlets
across the country. Our trailblazing
roastery in Kushalnagar caters to all
Tata Starbucks requirements, including
single-origin beans from India, Kenya
and Sumatra, along with cold brew and
espresso variants. Our tireless approach
to refining our production processes
with the best curing techniques reflect
our commitment to leveraging premium
products to a premium brand, without
compromising on our sustainability goals.

Journeying to do
better every year
Standalone performance
Revenue from
Operations (₹ in Crore) Profit before tax
85
(₹ in Crore) Profit after tax (₹ in Crore)
73
719
737
817
119
122
101
102
FY22
FY22
FY22
FY20
FY21
FY20
FY21
FY20
FY21
11% 3% 1%
Earnings per share* (₹) Dividend per share * (₹)

3.92
5.40
5.45
1.50
1.50
2.00
FY22
FY22
FY20
FY21
FY20
FY21
1% 33%

Consolidated performance
Profit after tax
Revenue from Profit before tax (Net of (₹ in Crore)
Operations (₹ in Crore) (₹ in Crore) non-controlling interest)
1,966
2,255
2,363
200
284
311
82
134
148
FY22
FY22
FY22
FY20
FY21
FY20
FY21
FY20
FY21
5% 9% 11%
Earnings per share* (₹)

4.41
7.16
7.91
FY22
* On equity share of ₹1 each

FY20
FY21
Y-o-Y growth (%)
11%

ACQUISITION AND EXPANSIONS
Building blocks
of the behemoth
Tata Coffee did not shape into what it is today simply through time’s
natural progression. A hundred years of inculcating the wisdom of
diverse leaders, shifting strategic gears according to needs of the
hour and crafting a vibrant history of partnerships have culminated
into the making of this Company.
Capturing a century
of consolidation
In its early years it joined forces to bring Within decades of this trend setting This resulted in some older estates being
order into the unorganised plantation off, the flagship Consolidated Coffee relinquished, and new estates being
business in India. To become more stable Estates Limited (CCE), registered in swiftly brought into the fold. At the helm
units of production, processing and sales. Edinburgh, came to be in 1922, through of this undertaking was the accomplished
the merging of two leading estates planter, P.G. Tipping, appointed as the
The 1800s saw the crop-up of multiple
registered in London − Pollibetta Coffee General Manager in Pollibetta to ensure
tea and coffee estates throughout the
Estates Limited and Coorg Coffee Estates the smooth running of operations.
hills of Coorg. But only a few of them
Company Limited.
could function productively. By the 1860s,
smaller estates came under the protection
of larger and more established units of
coffee production.

Gunning for growth

with the Volkarts
As part of adopting several strategies to
ensure continuous organic and inorganic
growth, the Company made a crucial
purchase in 1966-67 from the Volkart
Brothers (a prestigious Swiss trading firm),
operating from Tellicherry. A triumphant
This acquisition was worth 2,840 acres of Tata takeover
top-tier coffee estates, two remarkable
By the turn of the next century, Tata Tea
curing works, with 6,000 tonnes
Limited (TTL) entered the coffee market
capacity at Mangalore and Tellicherry, The astute leadership of visionaries
with its acquisition of CCL’s majority
along with an export division. It gave like Darbari Seth and his meticulous
shares in 1990, led by Darbari Seth’s open
an immense boost to CCL’s coffee revitalisation programme, paved the
bids to shareholders.
production infrastructure. way for a future-ready entity, poised for
It was a buyout lauded by the industry tremendous growth. CCL and Tata Tea’s
The modern curing works enhanced
due to its transparent and efficient shared values guided the reinvigorated
facilities added two new beneficial
processing. Carrying forward the legacy corporate policies.
properties on the Coast. The transaction
of the prestigious 18th century tea
also allotted 25% of CCL shares to the Tata Tea’s commitment to improve
producers ‘James Finlay and Company’
Volkarts and their Chief Executive for product excellence naturally and
of Glasgow, Tata Tea quickly coalesced
Indian coffee operations – R.K. Renfer scientifically, preserve the biodiversity of
into a premiere brand, inspiring trust, and
− came on board as a Joint Managing estates, coupled with persistent goals of
confidence in all its ventures.
Director for three years. He introduced enhancing the lives of workers and the
visionary changes to the Price Differential As the leaders of the country’s most extended community, informed much
Scale (PDS) that further enhanced Bull’s recognised, homegrown conglomerate of its decision-making. When the new
coffee pooling system. With the help of took control of CCL, the Company scaled millennium arrived within one year of
K.B. Somana, the recasting of the PDS to its potential of becoming a leading the transition, the Company could make
was complete and it continues to be integrated coffee plantation company in the most of expansion and diversification
functional even today. the world, with ease. opportunities that had birthed.

ACQUISITION AND EXPANSIONS
Veering off to Vietnam

Vietnam has built a reputation as the What separates Vietnam from other coffee Our cutting-edge freeze-dried facility,
world’s largest Robusta producer, and is producing countries, is how farmers comes with a unique, integrated pilot
now evolving by embracing sustainable have been able to maximise their output. plant, leveraged to customise blends.
practices and profitability over Favourable policies and commitment It enables co-creation with customers
productivity. Propelled by the Đổi mới towards making the country a hub for across geographies and its world-class
economic reforms of 1986 that enabled global coffee trade help Vietnam attract manufacturing abilities strengthen our
private ownership of small enterprises, steady downstream investments in commitment to innovation and safety,
Vietnamese coffee production rose to the instant and premix coffees. ensuring long-term relationships with
level of eminence it enjoys today. instant coffee advocates across regions.
The country’s potential caught our attention and

we set up our first international instant coffee ~5,000 MT
plant there, Tata Coffee Vietnam Company Annual capacity
Limited as our wholly owned subsidiary to
establish and cement our presence in the coffee
heartland of Asia.
Certifications

Pursuing processing
finesse with Kushalnagar
Curing Works
We acquired the centre at Kushalnagar to act
as our in-house processing hub for our entire
produce of coffee. It has been instrumental in
providing green coffee processing services to
coffee growers in South India. It also houses the
pepper processing unit, and two roasting units
for Tata Coffee Grand and Tata Starbucks. The
unit is ISO 9001:2015, UTZ, SA-8000:2014, Rain
Forest Alliance, Organic Coffee processing, and
Café Practices certified.

PLANTATION AND INTER-CROPPING CULTURE
Pioneering practices
that became the standard
The arrival of British planters contributed to the beautiful hills of the Western Ghats
becoming home to a wide variety of plantations, producing crops of great market value
like cinchona, rubber, tea, coffee, and a range of spices like cardamom, nutmeg, pepper
and clove.
The Tata Coffee of today is inspired from that unmatched grit and gusto of those
planters who turned rough, wild landscape into carefully carved out plantations, with
roads cutting through hills and ropeways augmenting transportation options across the
mineral-rich soils of Coorg, Hassan and Chikmagalur.
The history of coffee production in

Southern India reveals how the plant
Commercialising coffee and
was initially grown solely for recreational commencing inter-cropping
consumption by farmers and their
It was the pioneering vision of planters like J.H. Jolly
families. During the long silence lasting
of Parry & Company, that helped propel coffee into
more than a century, coffee lay hidden in
the limelight, dominating plantations due to its high
the backyards of peasants in the interiors
commercial value, particularly overseas. Tea and
of Malnad, quietly being enjoyed for its
pepper soon followed suit. Small units by individual
unique properties. At the same time, the
planters started to merge into larger estates,
drink was making waves across Europe,
gradually scaling up the production process.
resulting in skyrocketing demands.
As new developments started to unfold, other
The idea of turning coffee aspects of the plantation – safety and
into a cash crop did not well-being of labour, prevention of poaching, curing
of coffee – started to receive rigorous care and
take shape until the arrival adequate investments.
of the British planters.

A history of prioritising crop security

Coffee rust, caused by the fungus The Ceylon fiasco prompted the planters
Hemileia Vastatrix, decimated the coffee to adopt the technique of growing
plantations of Ceylon and was starting coffee under natural shade, an innately
to affect parts of Coorg as well. Plant eco-friendly method of preventing
pathologists were swiftly employed to coffee rust. This soon evolved and
nip the problem of coffee rust, literally in became the standard coffee-growing
the bud. practice followed to this day.
Early records of the United Planters’ Association of Southern

India (UPASI) show how once a large consignment of
ladybirds were secured from Australia to control pests in
the plantations.
To the planters there at the time, these may have seemed
like trial-and-error procedures, but they were the earliest
known attempts of biological control in plantation crops
being implemented in India.
Changing course of cultivation

Acting on expert recommendation, the These became CCL’s pioneering steps
Company, which started with growing towards optimising land use, and
oranges in coffee plantations began growing zesty, flavourful produce.
inter-planting pepper with coffee, tea, These techniques did not just work, they
cardamom, arecanut, avocado and other ensured better sales and higher valuation
fruit crops. of the estates. They nurtured biodiversity
around the hills and discarded old,
monocrop planting traditions.
Our R&D arm was established in 1982 to provide technical

support on all aspects of plantation, including combating
climate change, post-harvest processing to preserve the
intrinsic quality of products and assisting estates in acquiring
certifications, which validate our operations to be at par with
international standards.

PLANTATION AND INTER-CROPPING CULTURE
Continued pioneering
of multicropping
Coffee and pepper cultivation follows • Enhanced productivity through • Coffee ‘wastewater’ management
international, organic farming standards top working of old/moribund/ with recommended ecological
as per the National Programme for un-productive plants with neutralisation agents and biological
Organic Production (NPOP) and the productive scions processes for wastewater treatment
National Organic Program (NOP) – US and energy recovery
technical standards. We initiated • Crop diversification through the
agro-waste management and recycling assessment of potential of • Quality enhancement and better
through large-scale production of quality low-yielding coffee areas and processes to preserve the inherent
compost with advanced technology that identifying other alternate and suitable quality of estate produce, right time of
incorporates microbial consortium to commercial crops and fruit trees. crop harvest based on sugar content
enhance soil fertility and vigour of plants. Horticulture crops like Avocado, (coffee), and improved post-harvest
Mangosteen, Rambutan, Dragonfruit drying standards for coffee and pepper
Blending science and and tree spices – Nutmeg, Bixa- to avoid microbial contamination
expertise to advance annata were initiated and are
• Apiculture to enhance productivity
showing promise
plantation through insect pollination in coffee,
To retain our leadership position, we are • Value addition trials to develop unique and the revival of diminishing
constantly challenging the status quo in formulation from coffee and coffee population of honeybees
the Company to bring the new, improve by-products
• Pisciculture and scaling up of fish
the existing and innovate the next. To this • Digitalisation through apps and tools farming in irrigation tanks to preserve
end, we are targeting the following: for plant selection, environment the aquatic ecosystem and additional
• Improved crop varieties through field monitoring, as well as pest and revenue generation
evaluation of location specific plants to disease management
• Collaborative research with national
identify coffee plants with high yield, and international research institutions
pest, disease and draught tolerance. as well as technical firms for the benefit
Purity of the estate varieties are of the plantation community
being assessed through DNA
fingerprinting technology; and in-
house production and supply of seed
coffee was also initiated. Production
of beneficial microbial sculptures viz.
Trichoderma, Beauveria bassiana,
Pseudomonoas and other microbial
consortium as plantation inputs is also
being explored

Researching to advance crop nutrition

Our R&D laboratory is well equipped • Monitoring the availability of • Rationalisation of fertiliser application
to conduct important research on crop micronutrients and secondary for the future and experimenting
nutrition. It also conducts soil fertility nutrients to improve coffee, pepper, on identification of potential
evaluation through annual soil nutrient cardamom and fruit crop productivity ‘fertiliser formulation’ for better
analysis and leaf micronutrient diagnostic and quality absorption of applied nutrients, and
analysis and the results are used to quality enhancement
• Working on various agro input
optimise fertiliser recommendation and
trials in collaboration with different
soil amendment. The process includes:
organisation and institutes
• Rationalising our fertiliser programme
based on soil nutrient status and
plant replenishment ratio, which
is optimised to provide adequate
nutrients to enhance crop production
and productivity

SUSTAINABILITY: AN UNREMITTING COMMITMENT
Proud and protective

of our ecosystem
We believe that for businesses to become timeless enterprises, they must go beyond
securing profit and growth to focus on practicing sustainable operational approaches.
Throughout its century-long odyssey, the Company remained advocates of healthy
ecosystem, from plant to people, be it as supporters of afforestation or small growers’
development. The erstwhile management were also strong proponents of labour
welfare, child development and quality healthcare for the underprivileged.
In present times, we are conducting stakeholder engagement and materiality
assessment, the outcome of which has been the identification of 6 material areas. We
have accordingly firmed up metrics to track advancement, which includes monitoring
GHG emissions, carbon sequestered, water usage, waste generation , governance and
managing customer complaints and reviews. We are also reporting on the progress at
regular intervals.

Decarbonising our operations energy mix, 60% comes from renewable Ensuring minimal conflicts
sources (Tata Coffee + TCVCL). Currently,
Our plantations house over a million Southern India has a large population
we are in the process of accounting and
trees, 3,000+ native species of flora and of elephants with Coorg witnessing
will receive third-party verification results
~396 native species of animals, acting the largest congregation of elephants
by the first quarter of next year.
as ecological hotspots. We measure and during June and July. Our plantations are
monitor our carbon footprint, Scope I Stepping up water a natural attraction for these majestic
and Scope II GHG emissions and have it beasts leading to a rise in human-animal
verified by third party on annual basis. In
sustainability conflict and damage to crops. We are
alignment with India’s decarbonatisation It is one of our imperatives to not use leveraging novel technology solutions
strategy and commitment to achieve groundwater for irrigation and during the (GIS polygons, wildlife trackers, radio
Net Zero by 2070, we are working to processing of coffee and pepper. We have collars, early warning systems), ingrained
reduce our GHG emission footprint by installed reservoirs in the catchment areas knowledge of the landscape (mapping
undertaking energy-efficiency projects, across our plantations that are desilted of elephant and conflict-prone zones,
evaluation of efficient technology, or extended to meet evolving irrigation GPS surveys) and insights on animal
switching to cleaner fuel, including requirements. The present capacity at behaviour, We preserved these elephant
maximising usage of biofuels in our 274 natural water storage ponds corridors while ensuring the safety of
our operations. is 3.4 million cubic metres. These help our plantation workers. The programme
impound run-off and excess rainwater has been undertaken in collaboration
We sequester ~2.6 lakh MT CO2 and are and are capable of catering to our entire with the state governments and the
involved in a project to verify and certify Robusta crop for its blossom as well as to forest departments of Karnataka and
these figures. We are using renewable back irrigation needs, including watering Tamil Nadu.
energy in our overall energy mix, in the our pepper vines. Extensive scientific
form of biomass biofuels like briquettes rainwater harvesting has contributed to
and renewable electricity (solar, wind) our irrigation now being 100% self-reliant.
from the grid at the captive solar plant
that we installed in our units. Of our total
~60%
Of our total energy consumption is
attributable to renewable sources

RELATIONSHIPS
Carrying forward
our culture of care
Moving tales of astute leadership, unyielding determination and unremitting
benevolence run through the veins of the Company. These are stories of leaders with
undying fires in their bellies who brought in change and transformation.
Stories of leaders that altered the fate of many a planter in Coorg from a life of poverty
to a life of prosperity. Stories of never losing touch with the natural world and staying
close to the community. Stories of caring immensely for the people one worked with.
In all these anecdotes and in the actions of today, a zest for life, a passion to achieve
excellence and a clear conscience remain unmistakeable.
Ageless anecdotes of humility and honour

Those fortunate like K.P. Uthappa, who Harish Bhat who worked with Darbari
worked during Bull’s time recalls a set of Seth recalls one night where they ended
golden advice that he had received from up working into late hours and yet at
the man himself. Of which, two distinctly dawn, Bhat opened his door to Mr Seth’s
stand out for telling volumes about his messenger who was bringing additional
leadership. His first advice was that no notes on the next plan of action that
estate manager should ever shy away Seth had drawn up after the late-night
from learning aspects of coffee cultivation meeting, which ended with him asking
from their maistries and pickers. His Bhat to hurry and meet him in the office
second was that footpaths and roads at 7 AM. On another occasion, Bhat
were for lazy managers, to really gauge remembers Seth, upon being appraised
the condition of majority of the plants, by Bhat, taking up the matter of a kidney
one needs to walk through the estates. transplant of one of Bhat’s friends and
colleagues in Bengaluru personally with
According to Mr. Uthappa, one
Tata Trust, thus helping expedite the
quotation from a certain John
process. It was hard not to have that kind
Ruskin fits just right with Bull
of energy rub off on the successors of the
and that is “That man is the
Company.
richest, who, having perfected
the functions of his own life to the “I am convinced that my life
utmost has also the widest helpful belongs to the whole community.
influence, both personal and by And as long as I live, it is my duty
means of his possessions, over the and privilege to do for it whatever
lives of others.” I can.”
Darbari Seth

Keeping alive the

tradition of giving back
Our relationships today extend to a wide
spectrum of stakeholders who are crucial to
our business and its progress. We endeavour
to carry forward the stakeholder-centric
approach of the greatest leaders we have
had in our journey and bring meaning and
joy to as many lives as possible. Some of our
endeavours in this regard are detailed below.
People
• Covid vaccination drive completed for 68% of the employees covered under it • Monthly advisory circulars in English
the entire workforce in FY 2021-22 and mandates around a and Kannada language sent to
just culture of penalising violations and estates to update them on current
• Zero fatalities and reduced injury rates rewarding safety adherence trends in cultivation, pest and disease
by 8.41% in FY 2021-22 management as well as
• Improvements in defensive driving post-harvest technology
• 100 Days Zero Injury campaign behaviour by 23% in last year by
resulted in 67% reduction in LTIs focusing on behaviour monitoring • Increased safety and health training
compared to last year through technology and running the hours by 96% from 10.5 person-hours/
• Achieved first year of zero harm i-Drive Safe engagement campaign employee to 20.3 person-hours/
pepper as an outcome of informative employee clocking 2,56,903 hours in
• Periodic training programmes FY 2021-22
campaigns run for 3 years on critical cultural operations for
since implementation estate personnel
• Robust deployment of consequence
management policy for safety with
Communities
• Swastha Centre for Special Education • Promoting and enabling access to • As a part of our CSR, our R&D team
and Rehabilitation running successfully quality healthcare in the remote hills extended technical support and
to re-integrate children with of Coorg with the Rural India Health training sessions to ensure the welfare
disabilities in the Kodagu district into Project in Ammathi, supporting daily of the indigenous communities
the mainstream wage earners, their families and the
• Conducted internship trainings,
underprivileged around the area in
• Our 11,590+ employee volunteers health camps and career counselling
receiving advanced diagnostics and
contributed 63,590+ volunteering for the underprivileged across our
intensive care
hours across 300+ activities at Tata operating locations
Volunteering Week (TVW 16 & 17)
Growers
• Regular exchange of our knowledge • Diverse capacity building and training • Regular updates given through
of plantation and ensuring good programmes to enhance their ability to newsletters across four districts
yields with small farmers around function independently via coffee farmers and community
our plantations association members, which is further
• Experiential learning provided through
circulated among small growers
frequent farm visits
Customers
• Continuous focus on new product • Bringing new blends and specialty • Focusing on enhancing product
development and updates on progress coffee for modern, discerning drinkers security and sustainability

BOARD OF DIRECTORS
Modern leaders
marching for progress
Our leaders today are dynamic, experienced and passionate about
carrying forward the legacy of the Company. They have deep
reverence for the ideologies our founding leaders stood for.
Mr. R. Harish Bhat Mr. Sunil A. D’Souza

Chairman Non-executive, Non-independent Director
Mr. Bhat is the Brand Custodian at Tata Sons and a Director on Mr. D’Souza is the MD & CEO of Tata Consumer Products since
the Boards of several Tata companies, including Trent Limited, April 2020. Prior to this, he served as the Managing Director
Tata Starbucks Private Limited, Infiniti Retail Limited, Tata of Whirlpool India Ltd., for over four years and is credited with
Unistore Limited and Tata AIA Life Insurance Company Limited. having turned Whirlpool into a remarkable growth story in
During his 35-year career with the Tata group, he has been the India. Mr. D’Souza began his career at Hindustan Unilever Ltd.
Managing Director of Tata Consumer Products Limited (formerly in 1993 and then spent ~15 years at PepsiCo, where he held
known as Tata Global Beverages Limited), Chief Operating Officer several leadership roles, handling commercial aspects of the
of the Watches and Jewellery businesses of Titan Company Company’s food and beverages portfolio, which successfully
Limited, and in the telecom business. He has played a key role in led the business in a large cluster of Asian countries. With
several strategic moves, and in nurturing many iconic brands of 29 years of rich experience, he has strong domain knowledge
the group. of the consumer products business with acumen in strategy,
Mr. Bhat is an alumnus of BITS Pilani and IIM Ahmedabad. He growth and execution.
won the IIM Ahmedabad Gold Medal for scholastic excellence Mr. D’Souza is an engineering graduate from the University of
in 1987 and the Chevening Scholarship for young managers Madras and an alumnus of Indian Institute of Management,
from the British Government in 1997. In 2017, he received the Calcutta (IIM-C).
Distinguished Alumnus award from BITS Pilani. Mr. Bhat is also a
passionate and prolific writer and columnist.

Mr. S. Venkatraman Ms. Sunalini Menon

Independent Director Independent Director
Mr. Venkatraman is a Board member of HDB Financial Services Ms. Menon has held positions of increasing responsibility in
Limited, Fairchem Organics Limited, National Payments the Coffee Board of India between 1972 and 1995, ultimately
Corporation of India and Mahanagar Gas Limited. He is also a becoming the Director (Quality Control). She is among Asia’s
partner in M/s. V. Sankar Aiyar & Co., Chartered Accountants, most recognised coffee cuppers, with 50+ years of experience
since 1984. He is engaged in audit and assurance practice in the Indian and international coffee industry. Her visual and
and direct tax and corporate advisory services since 1984, organoleptic skills in coffee evaluation have received global
specialising in statutory audits of banks, mutual funds and acknowledgements. She has experience executing assignments
financial companies, public sector companies, and advisory in South and Central America, Africa, Asia and Southeast Asia as
in the areas of direct tax, company law, competition law, the a Coffee Corps Volunteer of the Coffee Quality Institute (CQI) of
Foreign Exchange Management Act (FEMA) and Securities and the Specialty Coffee Association of America.
Exchange Board of India (SEBI) matters.
She is the President of M/s. Coffeelab Limited in Bengaluru,
He has over 35 years of experience and was a special invitee on India and a Special Lecturer at the Universita del Caffe of the
the Accounting Standards Board of the Institute of Chartered University of Trieste, Italy. She is a Trustee of the India Coffee
Accountants of India (ICAI) for FY 2020-21 and on the Ind Trust and on the Board of Trustees of the Coffee Quality Institute
AS Transition Facilitation Group Committee of the ICAI for of the Specialty Coffee Association of America. She is the
FY 2019-20. He was a co-opted Member of the Expert Advisory President of the Women’s Coffee Alliance – India Chapter (WCA-I)
Committee of ICAI for FY 2021-22. He has also participated in the since April 2020.
case study based governance programme on Audit Committees
in this New Era of Governance at the Harvard Business School.
Mr. Venkatraman holds a bachelor’s degree in Commerce from
the University of Bombay and is a Fellow Member of the Institute
of Chartered Accountants of India since 1981.

BOARD OF DIRECTORS
Mr. Siraj Azmat Chaudhry Dr. P. G. Chengappa

Independent Director Independent Director
Mr. Chaudhry brings with him 34 years of experience in food and Dr. Chengappa is an Independent Director of Tata Coffee
agriculture across the value chain, with respect to commodity Limited since May 18, 2017. He is one of the leading Agricultural
trading, risk management, food processing and FMCG sales Economists of the country. Dr. Chengappa served as the Vice
and marketing. He is regularly consulted by Central and State Chancellor, University of Agricultural Sciences, Bengaluru.
Governments for his views on these subjects. He supports and
He was a visiting professor at the Universities of Reading, Wales,
mentors start-ups in the food and agriculture industries and is
Iowa State University and Purdue. He was appointed as the
closely associated with the cause of food security and nutrition.
National Professor by the Indian Council of Agricultural Research,
He was one of the founders of United Way-Delhi chapter New Delhi. He is a Policy Economist specialised in agri-business
and India Food Banking Network, as also the Chairman of and trade.
Cargill India.
He has over three decades of experience in teaching, research,
He is the Managing Director and CEO of National Commodities extension and consultancy. He has published over 100 research
Management Services Limited and an Independent Director papers in national and international journals. He was the
on the Boards of Tata Consumer Products Limited, Dhanuka President (Elect), Indian Society of Agricultural Economics (2012)
Agritech Limited, Jubilant Ingrevia Limited, Bikaji Foods and President, Agricultural Economics Review Association,
International Limited and Carrier Air-Conditioning and New Delhi (2013-16). As a member of the working group on
Refrigeration Limited. He serves as a member of CDC Group Agricultural Marketing constituted by the Planning Commission
Plcs Food & Agriculture Advisory Council and the India Advisory of India, he contributed immensely in preparing the 12th Five
Board of AB InBev, India. Year Plan.
He has in the past served as an Independent Director on He has been a consultant to several international organisations,
the Board of IndusInd Bank, Chairman of the National Food which inter alia includes International Food Policy Research
Processing Industries Committee at FICCI, President of the Food Institute (Washington), International Plant Genetics Resource
Industry Skill Council under NSDC and chaired the Agriculture Institute (Rome), International Rice Research Institute (Manila),
and Food Committee at the American Chamber of Commerce DSE Germany and FAO. He is on the Board of Sam Agri Tech Ltd
(AMCHAM India) and the Agriculture and Food Committee of and Tasty Bite Eatables Ltd.
USIBC in India.

Mr. Chacko Purackal Thomas Mr. K. Venkataramanan

Managing Director & CEO Executive Director – Finance & CFO
Mr. Thomas is the Managing Director and Chief Executive Officer Mr. Venkataramanan is the Executive Director - Finance
of the Company since April 1, 2019. He has been associated and Chief Financial Officer of Tata Coffee Limited since
with Tata Coffee since August 4, 2015. He comes with over 30 October 25, 2014. He is a Chartered Accountant and a Cost
years of experience in the plantation industry across general Accountant with over three decades of experience in financial
management, business strategy, sales, and marketing functions. and management accounting, commercial finance, taxation,
treasury and corporate restructuring. He was the Vice President
He has a Bachelor of Science degree with specialisation
(Finance) and Chief Financial Officer of Tata Consumer Products
in Computer Science from the University of Jodhpur. He
Limited. He oversees risk management, governance and
has completed Advanced Management Programme from
IT functions.
INSEAD Fontainebleau.

PRESTIGIOUS ACCLAIMS
Carving a path
of goodness and glory
Won the Sustainable Agriculture Award ICD Theni won Gold award with
at the Federation of Indian Chamber of 4 Star rating at OHSSAI HSE &
Commerce and Industry (FICCI) Agriculture Sustainability Excellence Award
Summit and Awards 2021 for our soil and
water conservation initiatives undertaken
across plantations and instant coffee plants ICD Toopran won Silver award
with 3 Star rating at OHSSAI HSE &
Sustainability Excellence Award
Coffee Plantations (COHA) won Gold
award with 4.5 Star rating at OHSSAI HSE
& Sustainability Excellence Award ICD -Theni recently won the prestigious
EHS Excellence & Maturity Award (Bronze)
from the CII-Southern Region
ICD Toopran won the HR Achievers Gold Star
Award-2021 from the Federation of Telangana
Chambers of Commerce and Industry (FTCCI) Jumboor estate won the Best of the Best Coffee
in the World | India’s Best Coffee – Ernesto
Illy International Coffee Award that testifies
ICD Theni was awarded the Greentech to our sustainable plantation culture
Energy Conservation award FY 2020-21
for sustainability initiatives and energy
management from the Greentech Foundation
ICD Theni won the Gold Award at the

Society of Energy Engineers and Managers
for Energy (SEEM) for its efforts in achieving
sustainable energy performance at the unit

Bagged the Export Excellence Award for FY 2016-17

and FY 2017-18 from Madras Export Processing Zone
(SEZ) - Ministry of Commerce and Industry
ICD Theni bagged the Highest Exporter award for

FY 2018-19 and FY 2019-20 from Madras
Export Processing Zone (SEZ) - Ministry
of Commerce and Industry
Declared the Top Exporter in Karnataka (Silver)

FY 2020-21 as recognised by the Federation
of Indian Export Organisations (FIEO)

Corporate
Information
Board of Directors Board Committees Corporate Identity Number
Mr. R. Harish Bhat (Chairman) Audit Committee (CIN)
(Non-Executive, Non-Independent Director) Mr. S. Venkatraman – Chairman L01131KA1943PLC000833
Mr. Sunil A. D’Souza Ms. Sunalini Menon
(Non-Executive, Non-Independent Director) Mr. Siraj Azmat Chaudhry Registered Office
Mr. S. Venkatraman Dr. P. G. Chengappa Pollibetta – 571 215 Kodagu, Karnataka
(Independent Director) Tel: +91 8274 251 411 / 13
Nomination and Remuneration
Ms. Sunalini Menon
(Independent Director)
Committee Corporate Office
Mr. Siraj Azmat Chaudhry – Chairman No. 57, Railway Parallel Road,
Mr. Siraj Azmat Chaudhry
Mr. R. Harish Bhat Kumara Park (W), Bengaluru – 560 020
Mr. S. Venkatraman Tel: +91 80 2356 0695, 23561976 / 81
Dr. P.G. Chengappa
Fax: +91 80 233 41843
Stakeholders’ Relationship Email: [email protected]
Mr. Chacko Purackal Thomas Committee Website: www.tatacoffee.com
(Managing Director & CEO)
Dr. P. G. Chengappa – Chairman
Mr. K. Venkataramanan Mr. Chacko Purackal Thomas Registrar & Transfer Agent
(Executive Director- Finance & CFO)
Mr. K. Venkataramanan TSR Consultants Private Limited
(Unit: Tata Coffee Limited)
Head - Legal & Company Corporate Social
C-101, 1st Floor, 247 Park Lal Bahadur
Secretary Responsibility Committee
Shastri Marg Vikhroli (West)
Mr. N. Anantha Murthy Ms. Sunalini Menon – Chairperson
Mumbai – 400 083
Dr. P.G. Chengappa
Tel: +91 22 6656 8484
Statutory Auditors Mr. Chacko Purackal Thomas
Fax: +91 22 6656 8494
M/s. Deloitte Haskins & Sells LLP
Risk Management E-mail: [email protected]
Committee Website: https://www.tcplindia.co.in
Bankers
Mr. S. Venkatraman – Chairman
Union Bank of India
Mr. Siraj Azmat Chaudhry
Indian Overseas Bank
Ms. Sunalini Menon
Standard Chartered Bank
Dr. P. G. Chengappa
Hongkong and Shanghai Banking
Corporation Limited Mr. Chacko Purackal Thomas
HDFC Bank Limited Mr. K. Venkataramanan
Axis Bank Limited
Citibank N.A.

Key Highlights-Standalone
2017-18 to 2021-22 - A Five Year Review
2017-18 2018-19 2019-20 2020-21 2021-22

Revenue from Operations (₹ in lakh) 70543.14 70290.85 71943.72 73663.70 81689.11
Other Income (₹ in lakh) 5622.75 5391.97 5630.97 7791.38 7033.24
Total Income 76165.89 75682.82 77574.69 81455.08 88722.35
Profit Before Tax (₹ in lakh) 8080.50 9789.74 8542.60 11858.61 12167.54
As percentage of Total Income 10.6 12.9 11.0 14.6 13.7
Profit After Tax (₹ in lakh) 6276.38 7158.08 7321.04 10079.82 10184.23
Debt/Equity Ratio 0.10:1 0.09:1 0.07:1 0.07:1 0.06:1
Earning per Share * (₹) 3.36 3.83 3.92 5.40 5.45
Dividend per Share * (₹) 1.50 1.50 1.50 1.50 2.00
Key Highlights-Consolidated
2017-18 to 2021-22 - A Five Year Review
2017-18 2018-19 2019-20 2020-21 2021-22

Revenue from Operations (₹ in lakh) 156732.35 180398.18 196605.94 225494.84 236350.10
Other Income (₹ in lakh) 2203.00 1843.23 2072.18 3379.32 2572.60
Total Income 158935.35 182241.41 198678.12 228874.16 238922.70
Profit Before Tax (₹ in lakh) 18593.88 17008.54 20007.46 28432.77 31113.97
Profit After Tax (Net of Non- (₹ in lakh) 10663.36 6877.45 8240.27 13364.04 14773.10
controlling interest)
Debt/Equity Ratio 0.67:1 0.74:1 0.73:1 0.69:1 0.55:1
Earning per Share * (₹) 5.71 3.68 4.41 7.16 7.91
Dividend per Share * (₹) 1.50 1.50 1.50 1.50 2.00
Production (in tonnes)
Coffee Coffee Instant
Year Arabica Robusta Total Tea Pepper Cured Coffee
2012-13 1542 6800 8342 6640 1148 12509 6639
2013-14 2076 4781 6857 6545 368 11988 6955
2014-15 1594 7002 8596 6170 1150 10266 7975
2015-16 1899 6222 8121 6180 599 11162 7986
2016-17 1628 6000 7628 5666 544 11528 8474
2017-18 1890 3736 5626 5629 909 11940 8150
2018-19 1557 6030 7587 4879 597 8441 7493
2019-20 1425 4405 5830 4874 775 11042 7776
2020-21 1716 6136 7852 4946 790 10428 7174
2021-22 1209 5506 6715 4240 713 12085 8226
Acreage Statement - 5 Years

2017-18 2018-19 2019-20 2020-21 2021-22
Acres Acres Acres Acres Acres Hectares
COFFEE*
Arabica 7479 7544 7609 7593 7529 3049
Robusta 10635 10652 10637 10571 10527 4263
Mixed Coffee 87 87 87 87 87 35
18201 18283 18333 18251 18143 7347
TEA 6066 5981 5896 5897 5897 2387
OTHER CROPS
Cardamom 351 351 351 346 351 142
Pure Pepper/Areca 457 448 448 498 549 222
Oil Palm/Bamboo/etc. 146 132 145 184 236 95
TOTAL CULTIVATED AREA 25221 25195 25173 25176 25176 10193
* Pepper interplanted in Coffee estates

Statutory Reports Financial Statements
Notice 45 Standalone
Board’s Report 61 Independent Auditor’s Report 124
Report on Corporate Governance 85 Balance Sheet 134
Management Discussion and Statement of Profit and Loss 135
Analysis Report 110
Statement of Changes in Equity 136
Business Responsibility Report 114
Cash Flow Statement 137
Notes on Accounts 139
Consolidated
Independent Auditor’s Report 178
Balance Sheet 184
Statement of Profit and Loss 185
Statement of Changes in Equity 186
Cash Flow Statement 187
Notes on Accounts 189
Strategic Report Statutory Reports Financial Statements 1 2 3
Notice
NOTICE is hereby given that the 79th Annual General Meeting 6. Re-appointment of Dr. P G Chengappa (DIN: 06771287)
of the Members of Tata Coffee Limited will be held on Monday, as an Independent Director
June 20, 2022, at 11.00 A.M. (IST) through Video Conferencing
(“VC”) / Other Audio-Visual Means (“OAVM”), to transact the To consider and if thought fit, to pass the following resolution
following business: as a Special Resolution:
“RESOLVED THAT pursuant to the provisions of Section

ORDINARY BUSINESS:
149, 150 and 152 and other applicable provisions, if any, of
1. Adoption of Audited Standalone Financial Statements the Companies Act, 2013 (‘the Act’) (including any statutory
To receive, consider and adopt the Audited Standalone modification(s) or re-enactment thereof for the time being in
Financial Statements of the Company for the Financial Year force), read with Schedule IV to the Act and the Companies
ended March 31, 2022, together with the Reports of the (Appointment and Qualification of Directors) Rules,
Board of Directors and the Auditors thereon. 2014, as amended from time to time, Dr. P G Chengappa
(DIN: 06771287), who has submitted a declaration that he
2. Adoption of Audited Consolidated Financial Statements meets the criteria for independence as provided in Section
To receive, consider and adopt the Audited Consolidated 149(6) of the Act and Regulation 16(1) (b) of Securities and
Financial Statements of the Company for the Financial Year Exchange Board of India (Listing Obligations and Disclosure
ended March 31, 2022, together with the Report of the Requirements) Regulations, 2015, and who is eligible for
Auditors thereon. re-appointment, be and is hereby re-appointed as an
Independent Non-Executive Director of the Company, not
3. Declaration of Dividend
liable to retire by rotation and to hold office for a term of
To declare a Dividend on Equity Shares for the Financial Year 3 (three) consecutive years on the Board of the Company
ended March 31, 2022. with effect from May 18, 2022 to May 17, 2025.”
4. Appointment of a Director retiring by rotation 7. Appointment of Mr. S. Venkatraman (DIN: 00246012) as
To appoint a Director in place of Mr. Sunil A. D’Souza an Independent Director
(DIN: 07194259), who retires by rotation and being eligible, To consider and if thought fit, to pass the following resolution
offers himself for re-appointment. as a Special Resolution:
SPECIAL BUSINESS: “RESOLVED THAT Mr. S. Venkatraman (DIN: 00246012), who
5. Ratification of remuneration payable to was appointed as an Additional Director of the Company with
M/s. S. Mahadevan & Co., Cost Auditors of the Company effect from July 28, 2021 by the Board of Directors and who
holds office up to the date of this Annual General Meeting
To consider and if thought fit, to pass the following resolution of the Company under Section 161(1) of the Companies
as an Ordinary Resolution: Act, 2013 (‘the Act’) but who is eligible for appointment
“RESOLVED THAT pursuant to the provisions of Section and in respect of whom the Company has received a notice
148(3) and other applicable provisions, if any, of the in writing under Section 160(1) of the Act from a member
Companies Act, 2013, [including any statutory modification(s) proposing his candidature for the office of Director, be and is
or re-enactment(s) thereof, for the time being in force], read hereby appointed as a Director of the Company.
with the Companies (Audit and Auditors) Rules, 2014, as
amended from time to time, the Company hereby ratifies RESOLVED FURTHER THAT pursuant to the provisions of
the remuneration of ₹3,00,000/- (Rupees Three Lakh Section 149, 150 and 152 and other applicable provisions,
only), plus applicable taxes, reimbursement of travel and if any, of the Act (including any statutory modification or
out-of-pocket expenses subject to a maximum of 10% of re-enactment thereof for the time being in force) read with
the audit fees, incurred in connection with the cost audit, Schedule IV to the Act, and the Companies (Appointment
payable to M/s. S. Mahadevan & Co., Cost Accountants (Firm and Qualification of Directors) Rules, 2014, as amended
Registration No.000007), who have been appointed as from time to time, appointment of Mr. S. Venkatraman (DIN:
Cost Auditor by the Board of Directors of the Company, to 00246012), who has submitted a declaration that he meets
conduct audit of the cost records of the company for the the criteria for independence as provided in Section 149(6)
financial year ending March 31, 2023.” of the Act and Regulation 16(1)(b) of the Securities and

Exchange Board of India (Listing Obligations and Disclosure “RESOLVED THAT pursuant to the provisions of Section
Requirements) Regulations, 2015 and who is eligible for 196, 197, 203 and other applicable provisions, if any, of
appointment, as an Independent Director of the Company, the Companies Act, 2013 (“Act”), (including any statutory
not liable to retire by rotation, for a term of 5 (five) years modification(s) or re-enactment thereof for the time
commencing from July 28, 2021 upto July 27, 2026, be and being in force), read with Schedule V to the Act and the
is hereby approved.” Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, as amended from time to time, the
8. Re-appointment of Mr. Chacko Purackal Thomas consent of the Company be and is hereby accorded for the
(DIN: 05215974) as Managing Director and Chief re-appointment of Mr. K. Venkataramanan (DIN: 01728072)
Executive Officer (MD & CEO) as the Executive Director – Finance and Chief Financial
Officer of the Company for a period of 1 (one) year
To consider and if thought fit, to pass the following resolution commencing from October 25, 2022 to October 24, 2023
as an Ordinary Resolution: upon the principal terms and conditions set-out in the
Explanatory Statement annexed to the Notice convening
“RESOLVED THAT pursuant to the provisions of Section
this meeting (including the remuneration to be paid in the
196, 197, 203 and other applicable provisions, if any, of
event of loss or inadequacy of profits in any financial year
the Companies Act, 2013 (“Act”), (including any statutory
during the tenure of his re-appointment), with liberty to the
modification(s) or re-enactment thereof for the time
Board of Directors (hereinafter referred to as “the Board”) to
being in force), read with Schedule V to the Act and the
alter and vary, without further reference to the Members,
Companies (Appointment and Remuneration of Managerial
the terms and conditions of the said re-appointment in
Personnel) Rules, 2014, as amended from time to time, the
such manner as may be agreed to between the Board and
consent of the Company be and is hereby accorded for the
Mr. K. Venkataramanan.
re-appointment of Mr. Chacko Purackal Thomas
(DIN: 05215974) as the Managing Director and Chief RESOLVED FURTHER THAT the Board (which term shall be
Executive Officer (MD & CEO) of the Company for a period deemed to include any Committee of the Board constituted
of 3 (three) years commencing from April 1, 2022 to to exercise its powers, including the powers conferred by this
March 31, 2025 upon the principal terms and conditions Resolution) be and is hereby authorized to take all such steps
set-out in the Explanatory Statement annexed to the Notice as may be necessary, proper or expedient to give effect to
convening this meeting (including the remuneration to be this Resolution.”
paid in the event of loss or inadequacy of profits in any financial
year during the tenure of his re-appointment), with liberty to By Order of the Board
the Board of Directors (hereinafter referred to as “the Board”)
to alter and vary, without further reference to the Members,
the terms and conditions of the said re-appointment in N. Anantha Murthy
such manner as may be agreed to between the Board and Place: Bengaluru Head – Legal & Company Secretary
Mr. Chacko Purackal Thomas. Date: April 26, 2022 Membership No. ACS 17134
RESOLVED FURTHER THAT the Board (which term shall be
deemed to include any Committee of the Board constituted
to exercise its powers, including the powers conferred by this
Resolution) be and is hereby authorized to take all such steps
as may be necessary, proper or expedient to give effect to
this Resolution.” Registered office:
Pollibetta – 571 215,
9. Re-appointment of Mr. K. Venkataramanan
Kodagu, Karnataka
(DIN: 01728072) as Executive Director – Finance and
CIN : L01131KA1943PLC000833
Chief Financial Officer (ED – Finance & CFO)
Tel : + 91 82742 51411/13
To consider and if thought fit to pass, the following resolution Email : [email protected]
as an Ordinary Resolution: Website: www.tatacoffee.com

Notes: 6. The relative Explanatory Statement pursuant to Section 102

1. In view of the continuing Covid-19 pandemic, the Ministry of the Act, setting out material facts concerning the business
under Item Nos. 5 to 9 of the Notice, is annexed hereto. The
of Corporate Affairs (“MCA”) has vide its circular dated
relevant details, pursuant to Regulations 26(4) and 36(3) of
December 14, 2021 (General Circular No. 21/2021) read with
the Listing Regulations and Secretarial Standard on General
circulars dated January 13, 2021, May 5, 2020 April 8, 2020
Meetings issued by the Institute of Company Secretaries
and April 13, 2020 (collectively referred to as “MCA Circulars”)
of India, in respect of Directors seeking appointment/
permitted the holding of the Annual General Meeting
re-appointment at this AGM are also annexed.
(“AGM”) through Video Conferencing (“VC”) / Other Audio-
Visual Means (“OAVM”), without the physical presence of 7. Book Closure and Dividend:
the Members at a common venue. In compliance with the (a) The Register of Members and the Share Transfer Books
provisions of the Companies Act, 2013 (“Act”), SEBI (Listing of the Company will remain closed from June 4, 2022
Obligations and Disclosure Requirements) Regulations, 2015 to June 13, 2022 (both days inclusive) for the purpose of
(“the Listing Regulations”) and MCA Circulars, the AGM of the payment of dividend.
Company is being held through VC / OAVM.
(b) If dividend on Equity Shares, as recommended by the
2. Pursuant to the provisions of the Act, a Member entitled to Board, is approved at the Annual General Meeting, the
attend and vote at the AGM is entitled to appoint a proxy payment of such dividend will be made on or after
to attend and vote on his/her behalf and the proxy need June 23, 2022, as under:
not be a Member of the Company. Since this AGM is being
(i) to all beneficial owners in respect of Shares
held pursuant to the MCA Circulars through VC / OAVM,
held in electronic form as per details furnished
physical attendance of Members has been dispensed with. by the Depositories for this purpose at end of
Accordingly, the facility for appointment of proxies by the June 3, 2022.
Members will not be available for the AGM and hence the
Attendance Slip and Proxy Form are not annexed to this (ii) to all Members in respect of Shares held in
Notice. However, the Body Corporates are entitled to appoint physical form, after giving effect to valid transfer,
authorized representatives to attend the AGM through transmission or transposition requests lodged
VC / OAVM and participate thereat and cast their votes on with the Company on or before June 3, 2022.
e-voting. 8. Members are requested to intimate changes, if any,
3. The Members can join the AGM in the VC/OAVM mode pertaining to their name, postal address, e-mail address,
15 minutes before and after the scheduled time of the telephone/mobile numbers, Permanent Account Number
commencement of the Meeting by following the procedure (PAN), mandates, nominations, power of attorney, bank
details such as, name of the bank and branch details, bank
mentioned in the Notice. The facility of participation at the
account number, MICR code, IFSC code, etc.,:
AGM through VC/OAVM will be made available for 1000
members on first come first served basis. This will not include a. For shares held in electronic form: to their Depository
large Shareholders (Shareholders holding 2% or more Participants (DPs)
shareholding), Promoters, Institutional Investors, Directors, b. For shares held in physical form: to the Company/
Key Managerial Personnel, the Chairpersons of the Audit Registrar and Transfer Agent in prescribed Form
Committee, Nomination and Remuneration Committee and ISR-1 and other forms pursuant to SEBI Circular No.
Stakeholders Relationship Committee, Auditors etc. who are SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated
allowed to attend the AGM without restriction on account of November 3, 2021.
first come first served basis.
The Company has sent communication to shareholders in
4. The attendance of the Members attending the AGM through this regard.
VC/OAVM will be counted for the purpose of reckoning the
9. Members may please note that SEBI vide its
quorum under Section 103 of the Act.
Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8
5. In line with the Ministry of Corporate Affairs (MCA) Circular dated January 25, 2022, has mandated the listed companies
No. 17/2020 dated April 13, 2020, the Notice calling the to issue securities in dematerialized form only while
AGM has been uploaded on the website of the Company processing service requests viz. Issue of duplicate securities
at www.tatacoffee.com. The Notice can also be accessed certificate; claim from unclaimed dividend account; exchange
from the websites of the Stock Exchanges i.e., BSE of securities certificate; sub-division of securities certificate;
Limited, and National Stock Exchange of India Limited at consolidation of securities certificates/folios; transmission
www.bseindia.com and www.nseindia.com, respectively, and transposition. Accordingly, Members are requested to
and the AGM Notice is also available on the website of make service requests by submitting a duly filled and signed
NSDL (agency for providing the Remote e-Voting facility) Form ISR – 4, on the website of the Company’s Registrar
i.e., www.evoting.nsdl.com. and Transfer Agents, TSR Consultants Private Limited at

https://www.tcplindia.co.in/. It may be noted that any Tel: +91-22-66568484
service request can be processed only after the folio is KYC Extn : 411 / 412 / 413
Compliant. Fax: +91-22-66568494
10. SEBI vide its notification dated January 24, 2022 has Email : [email protected]
mandated that all requests for transfer of securities including Website : https://www.tcplindia.co.in
transmission and transposition requests shall be processed 13. Payment of Dividend through electronic means:
only in dematerialized form. In view of the same and to (a) To avoid loss of dividend warrants in transit and undue
eliminate all risks associated with physical shares and avail
delay in receipt of dividend warrants, the Company
various benefits of dematerialisation, Members are advised
provides the facility to the Members for remittance of
to dematerialise the shares held by them in physical form.
dividend directly in electronic mode through National
Members can contact the Company or TSR Consultants
Automated Clearing House (NACH). Members holding
Private Limited, for assistance in this regard.
shares in physical form and desirous of availing this
11. In case of joint holders attending the AGM, the Member facility of electronic remittance are requested to
whose name appears as the first holder in the order of provide their latest bank account details (Core Banking
names as per the Register of Members of the Company will Solutions Enabled Account Number, 9-digit MICR and
be entitled to vote. 11-digit IFS Code), along with their Folio Number, to
12. Transfer of Unclaimed/Unpaid amounts to the Investor the Company’s Registrar and Share Transfer Agent -
Education and Protection Fund (IEPF): M/s. TSR Consultants Private Limited. Members holding
shares in electronic form are requested to provide the
Members are requested to note that dividends not said details to their respective Depository Participants.
encashed or remaining unclaimed for a period of 7 (seven)
years from the date of transfer to the Company’s Unpaid (b) Members holding shares in electronic form are hereby
Dividend Account, shall be transferred to the Investor informed that bank particulars registered against their
Education and Protection Fund (“IEPF”) established by the respective depository accounts will be used by the
Central Government. Further, pursuant to the provisions of Company for payment of dividend. The Company or its
Section 124 of the Act read with the Investor Education and Registrars cannot act on any request received directly
Protection Fund Authority (Accounting, Audit, Transfer and from the Members holding shares in electronic form
Refund) Rules, 2016 (“IEPF Rules”) as amended to date, all for any change of bank particulars or bank mandates.
shares on which dividend has not been paid or claimed for Such changes are to be advised only to the Depository
seven consecutive years or more shall be transferred to IEPF Participant of the Members.
Authority as notified by the Ministry of Corporate Affairs. 14. Members holding shares in physical form are requested to
The Members/Claimants whose shares, unclaimed dividend, advise any change of address immediately to the Company’s
and debenture interest amount have been transferred to Registrar and Share Transfer Agent. Members holding shares
IEPF may claim the shares or apply for refund by making an in electronic form must send the advice about change in
application to IEPF Authority in Form IEPF 5 (available on address to their respective Depository Participant only and
www.iepf.gov.in). The Member/Claimant can file only one not to the Company or the Company’s Registrar and Share
consolidated claim in a Financial Year as per the IEPF Rules. Transfer Agent.
It is in the Members’ interest to claim any un-encashed 15. Updation of Members’ Details:
dividends and for future, opt for Electronic Clearing Service, The format of the Register of Members prescribed by the
so that dividends paid by the Company are credited to the Ministry of Corporate Affairs under the Act requires the
Members’ account on time. Company / Registrar and Share Transfer Agent to record
Members who have not yet encashed the dividend warrants, additional details of Members, including their PAN details,
from the financial year ended March 31, 2015, onwards are email address, bank details for payment of dividend, etc.
requested to forward their claims to the Company’s Registrar A form for capturing these additional details is appended
and Share Transfer Agents. Members are requested to at the end of this Annual Report. Members holding shares
contact the Company’s Registrar and Share Transfer Agent in physical form are requested to submit the filled-in form
to claim the unclaimed/ unpaid dividends at the following to the Company or to its Registrar and Share Transfer Agent.
address: Members holding shares in electronic form are requested to
submit the details to their respective Depository Participant.
M/s. TSR Consultants Private Limited,
(Formerly known as TSR Darashaw Consultants Private 16. Nomination Facility: As per the provisions of Section 72 of
Limited) the Act and Rule 19(1) of the Companies (Share Capital and
Unit: Tata Coffee Limited, Debentures) Rules, 2014, as amended, Members holding shares
C-101, 1st Floor, 247, Park, in physical form may file nomination in the prescribed Form
L.B.S. Marg, Vikhroli (West), Mumbai – 400083 SH-13 with the Company’s Registrar and Share Transfer Agent.

In respect of shares held in dematerialized form, the nomination INSTRUCTIONS TO MEMBERS FOR REMOTE E-VOTING AND FOR
form may be filed with the respective Depository Participant. JOINING THE ANNUAL GENERAL MEETING, ARE AS UNDER:
17. Members, who have not yet exchanged their shares of Asian 1. Pursuant to the provisions of Section 108 of the Companies
Coffee Ltd. / Coffee Lands Ltd. / Consolidated Coffee Ltd., Act, 2013 read with Rule 20 of the Companies (Management
with the Share Certificates of Tata Coffee Ltd., are requested and Administration) Rules,2014 (as amended) and Regulation
to surrender their Share Certificate(s) for exchange. Such 44 of SEBI (Listing Obligations & Disclosure Requirements)
Members are requested to contact the Company’s Registrar Regulations 2015 (as amended), and the Circulars issued
and Share Transfer Agent – M/s. TSR Consultants Private by the Ministry of Corporate Affairs dated April 08, 2020,
Limited, in this regard. April 13, 2020 and May 05, 2020, the Company is providing
18. All documents referred to in the accompanying Notice and facility of remote e-Voting to its Members in respect of the
the Explanatory Statement shall be open for inspection by business to be transacted at the AGM. For this purpose, the
the Members by writing an e-mail to the Company Secretary Company has entered into an agreement with National
at [email protected]. Securities Depository Limited (NSDL) for facilitating voting
19. Electronic copy of the Annual Report 2021-22 is being through electronic means, as the authorized agency.
sent to those Members whose e-mail address is registered The facility of casting votes by a member using remote
with the Company / Depositories for communication e-Voting system will be provided by NSDL.
purpose, unless any Member has requested for a physical 2. The remote e-voting period commences at 9.00 A.M. (IST)
copy of the same. Members may note that this Annual on Friday, June 17, 2022, and ends at 5.00 P.M. (IST) on
Report will also be available on the Company’s website Sunday, June 19, 2022. During this period, Members holding
at www.tatacoffee.com. shares either in physical or de-materialized form as on the
20. To support the “Green Initiative”, Members who have not Cut-Off Date i.e., Monday, June 13, 2022, may cast their
registered their email addresses are requested to register votes electronically. The e-voting module shall be disabled
the same with the Company’s Registrar and Share Transfer by NSDL for voting thereafter. Those Members, who will be
Agent/their Depository Participants, in respect of shares held present in the AGM through VC / OAVM facility and have not
in physical/electronic mode, respectively. cast their vote on the Resolutions through remote e-voting
and are otherwise not barred from doing so, shall be eligible
21. Pursuant to Finance Act 2020, dividend income will be
to vote through e-voting system during the AGM. The voting
taxable in the hands of shareholders w.e.f. April 1, 2020,
rights of Shareholders shall be in proportion to their share in
and the Company is required to deduct tax at source from
the paid-up equity share capital of the Company as on the
dividend paid to shareholders at the prescribed rates. For the
Cut-Off Date.
prescribed rates for various categories, the shareholders are
requested to refer to the Finance Act, 2020 and amendments 3. The Company has appointed Mr. S. M. Pramod of M/s. BMP
thereof. The shareholders are requested to update their PAN & Co., LLP., Company Secretaries (Membership No. FCS 7834)
with the Company/ Registrar and Transfer Agent (in case as the Scrutinizer to scrutinize the voting at the meeting and
of shares held in physical mode) and with the Depository remote e-voting process, in a fair and transparent manner.
Participants (in case of shares held in demat mode). 4. The Members who have cast their vote by remote e-voting
A Resident individual shareholder with PAN and who prior to the AGM may also attend / participate in the AGM
is not liable to pay income tax, can submit a yearly through VC / OAVM, but shall not be entitled to cast their
declaration in Form No. 15G/15H, to avail the benefit of vote again.
non-deduction of tax at source by sending an email to 5. The voting rights of Members shall be in proportion to their
[email protected] latest by 11:59 p.m. (IST) on share in the paid-up equity share capital of the Company as
May 31, 2022. on June 13, 2022 (“Cut-Off Date”).
Shareholders are requested to note that in case their PAN is
6. Any person holding shares in physical form and non-
not registered, the tax will be deducted at a higher rate of 20%.
individual shareholders, who acquires shares of the
Non-resident shareholders can avail beneficial rates under Company and becomes member of the Company after
tax treaty between India and their country of residence, the AGM Notice is sent through e-mail and holding shares
subject to providing necessary documents i.e. No Permanent as on the ‘cut-off date’ i.e. June 13, 2022, may obtain the
Establishment and Beneficial Ownership Declaration, Tax login ID and password by sending a request to NSDL at
Residency Certificate, Form 10F, any other document which [email protected] or to the Company / Registrar & Transfer
may be required to avail the tax treaty benefits by sending Agent. However, if you are already registered with NSDL
an email to [email protected]. The aforesaid for remote e-voting, then you can use your existing user ID
declarations and documents need to be submitted by the and password for casting your vote. If you forgot your
shareholders latest by 11:59 p.m. (IST) May 31, 2022. password, you can reset your password by using “Forgot User
22. Since the AGM will be held through VC / OAVM, the Route Details/Password” or “Physical User Reset Password” option
Map is not annexed in this Notice. available on www.evoting.nsdl.com or call on Toll Free No.

1800 1020 990 and 1800 22 44 30. In case of individual shareholders holding securities in demat mode who acquires shares of
the Company and becomes a Member of the Company after sending the AGM Notice and holding shares as of the cut-off date
i.e. June 13, 2022 may follow steps mentioned in the Notice of the AGM under “Access to NSDL e-Voting system”.
7. E-voting Instructions: The details of the process and manner for remote e-voting are explained herein below:
How do I vote electronically using NSDL e-Voting system?
The way to vote electronically on NSDL e-Voting system consists of “Two Steps” which are mentioned below:
Step 1: Access to NSDL e-Voting system
A) Login method for e-Voting and joining virtual meeting for Individual shareholders holding securities in demat mode
Type of shareholders Login Method
Individual Shareholders 1. Existing IDeAS user can visit the e-Services website of NSDL Viz. https://eservices.nsdl.com either on a Personal
holding securities in Computer or on a mobile. On the e-Services home page click on the “Beneficial Owner” icon under “Login”
demat mode with which is available under ‘IDeAS’ section, this will prompt you to enter your existing User ID and Password.
NSDL. After successful authentication, you will be able to see e-Voting services under Value added services. Click on
“Access to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click on company
name or e-Voting service provider i.e., NSDL and you will be re-directed to e-Voting website of NSDL for
casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.
2. If you are not registered for IDeAS e-Services, option to register is available at https://eservices.nsdl.com. Select
“Register Online for IDeAS Portal” or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
3. Visit the e-Voting website of NSDL. Open web browser by typing the following URL:
https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the home page of e-Voting
system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section. A new
screen will open. You will have to enter your User ID (i.e., your sixteen-digit demat account number hold with
NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you
will be redirected to NSDL Depository site wherein you can see e-Voting page. Click on company name or
e-Voting service provider i.e., NSDL and you will be redirected to e-Voting website of NSDL for casting your
vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.
4. Shareholders/Members can also download NSDL Mobile App “NSDL Speede” facility by scanning the QR code
mentioned below for seamless voting experience.
Individual Shareholders 1. Existing users who have opted for Easi / Easiest, they can login through their user id and password. Option will
holding securities in be made available to reach e-Voting page without any further authentication. The URL for users to login to Easi
demat mode with / Easiest are https://web.cdslindia.com/myeasi/home/login or www.cdslindia.com and click on New System
CDSL Myeasi.
2. After successful login of Easi/Easiest the user will be also able to see the E Voting Menu. The Menu will have
links of e-Voting service provider i.e., NSDL. Click on NSDL to cast your vote.
3. If the user is not registered for Easi/Easiest, option to register is available at
https://web.cdslindia.com/myeasi/Registration/EasiRegistration
4. Alternatively, the user can directly access e-Voting page by providing demat Account Number and PAN No. from
a link in www.cdslindia.com home page. The system will authenticate the user by sending OTP on registered
Mobile & Email as recorded in the demat Account. After successful authentication, user will be provided links
for the respective ESP i.e., NSDL where the e-Voting is in progress.
Individual Shareholders You can also login using the login credentials of your demat account through your Depository Participant registered
(holding securities in with NSDL/CDSL for e-Voting facility. upon logging in, you will be able to see e-Voting option. Click on e-Voting
demat mode) login option, you will be redirected to NSDL/CDSL Depository site after successful authentication, wherein you can see
through their depository e-Voting feature. Click on company name or e-Voting service provider i.e., NSDL and you will be redirected to e-Voting
participants website of NSDL for casting your vote during the remote e-Voting period or joining virtual meeting & voting during
the meeting.
Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password
option available at abovementioned website.

Helpdesk for Individual Shareholders holding shares in demat mode for any technical issues related to login through
Depository i.e. NSDL and CDSL.
Login type Helpdesk details
Individual Shareholders holding securities in demat mode with Members facing any technical issue in login can contact NSDL helpdesk by
NSDL sending a request at [email protected] or call at toll free no.: 1800 1020 990
and 1800 22 44 30
Individual Shareholders holding securities in demat mode with Members facing any technical issue in login can contact CDSL helpdesk
CDSL by sending a request at [email protected] or contact at
022- 23058738 or 022-23058542-43
B) Login Method for e-Voting and joining virtual meeting 5. Password details for shareholders other than Individual
for shareholders other than Individual shareholders shareholders are given below:
holding securities in demat mode and shareholders a) If you are already registered for e-Voting, then you
holding securities in physical mode. can user your existing password to login and cast
How to Log-in to NSDL e-Voting website? your vote.
1. Visit the e-Voting website of NSDL. Open web browser b) If you are using NSDL e-Voting system for the first
by typing the following URL: https://www.evoting.nsdl.com/ time, you will need to retrieve the ‘initial password’
either on a Personal Computer or on a mobile. which was communicated to you. Once you
retrieve your ‘initial password’, you need to enter
2. Once the home page of e-Voting system is launched, the ‘initial password’ and the system will force you
click on the icon “Login” which is available under to change your password.
‘Shareholder/Member’ section.
c) How to retrieve your ‘initial password’?
3. A new screen will open. You will have to enter your
User ID, your Password/OTP and a Verification Code as (i) If your email ID is registered in your demat
shown on the screen. account or with the company, your ‘initial
password’ is communicated to you on your
Alternatively, if you are registered for NSDL eservices email ID. Trace the email sent to you from
i.e., IDEAS, you can log-in at https://eservices.nsdl.com/ NSDL from your mailbox. Open the email
with your existing IDEAS login. Once you log-in to NSDL and open the attachment i.e., a .pdf file.
eservices after using your log-in credentials, click on Open the .pdf file. The password to open
e-Voting and you can proceed to Step 2 i.e., Cast your the .pdf file is your 8-digit client ID for NSDL
vote electronically. account, last 8 digits of client ID for CDSL
4. Your User ID details are given below: account or folio number for shares held in
Manner of holding shares Your User ID is: physical form. The .pdf file contains your
i.e., Demat (NSDL or CDSL) ‘User ID’ and your ‘initial password’.
or Physical (ii) If your email ID is not registered, please
a) For Members who 8 Character DP ID followed follow steps mentioned below in process
hold shares in demat by 8 Digit Client ID for those shareholders whose email ids
account with NSDL. For example, if your DP ID are not registered.
is IN300*** and Client ID is
12****** then your user ID is
6. If you are unable to retrieve or have not received the
IN300***12******.
“Initial password” or have forgotten your password:
b) For Members who 16 Digit Beneficiary ID a) Click on “Forgot User Details/Password?”(If you
hold shares in demat For example, if your are holding shares in your demat account with
account with CDSL. Beneficiary ID is NSDL or CDSL) option available on www.evoting.
12************** then your nsdl.com.
user ID is 12**************
b) Physical User Reset Password?”(If you are holding
c) For Members holding EVEN Number followed by
shares in physical mode) option available on
shares in Physical Folio Number registered with
www.evoting.nsdl.com.
Form. the company
For example, if folio number c) If you are still unable to get the password by
is 001*** and EVEN is 119845 aforesaid two options, you can send a request
then user ID is 119845001*** at [email protected] mentioning your demat

account number/folio number, your PAN, your grievances connected with the facility for e-Voting on the
name, and your registered address etc. day of the AGM shall be the same person mentioned for
Remote e-voting.
d) Members can also use the OTP (One Time
Password) based login for casting the votes on the
e-Voting system of NSDL.
GENERAL INSTRUCTIONS / INFORMATION FOR
MEMBERS FOR VOTING ON THE RESOLUTIONS:
7. After entering your password, tick on Agree to “Terms a) Corporate / Institutional Members (i.e., other than Individuals,
and Conditions” by selecting on the check box. HUF, NRI, etc.) are also required to upload their Board
8. Now, you will have to click on “Login” button. Resolution / Power of Attorney / Authority Letter by clicking
on “Upload Board Resolution / Authority Letter” displayed
9. After you click on the “Login” button, Home page of under “e-Voting” tab on this screen or send scanned certified
e-Voting will open. true copy (PDF / JPG Format) of the relevant Board Resolution/
Step 2: Cast your vote electronically and join Meeting on NSDL Authority Letter, etc., together with attested specimen
e-Voting system. signature(s) of the duly authorized representative(s) who
are authorized to vote, to the Scrutinizer at the email
How to cast your vote electronically and join Meeting on NSDL address: [email protected] with a copy marked to
e-Voting system? [email protected].
1. After successful login at Step 1, you will be able to see all b) It is strongly recommended not to share your password
the companies “EVEN” in which you are holding shares and with any other person and take utmost care to keep your
whose voting cycle and Meeting is in active status. password confidential. Login to the e-voting website will
2. Select “EVEN” of company for which you wish to cast your be disabled upon five unsuccessful attempts to key in the
vote during the remote e-Voting period and casting your correct password. In such an event, you will need to go
vote during the Meeting. For joining virtual meeting, you through the “Forgot User Details/Password?” or “Physical
need to click on “VC/OAVM” link placed under “Join Meeting”. User Reset Password?” option available on www.evoting.
nsdl.com to reset the password.
3. Now you are ready for e-Voting as the Voting page opens.
c) In case of any query pertaining to e-voting, Members
4. Cast your vote by selecting appropriate options i.e., assent may refer to the Frequently Asked Questions (FAQs) for
or dissent, verify/modify the number of shares for which shareholders and e-voting user manual for shareholders
you wish to cast your vote and click on “Submit” and also available at the download section of www.evoting.nsdl.com
“Confirm” when prompted. or call on Toll Free No.: 1800 1020 990 and 1800 22 44 30 or
5. Upon confirmation, the message “Vote cast successfully” will send a request at [email protected].
be displayed.
PROCESS FOR THOSE SHAREHOLDERS WHOSE EMAIL
6. You can also take the printout of the votes cast by you by IDs ARE NOT REGISTERED WITH THE DEPOSITORIES
clicking on the print option on the confirmation page. FOR PROCURING USER ID AND PASSWORD AND
7. Once you confirm your vote on the resolution, you will not REGISTRATION OF E-MAIL IDs FOR E-VOTING FOR THE
be allowed to modify your vote. RESOLUTIONS SET OUT IN THIS NOTICE:
1. In case Shares are held in physical mode, please provide
INSTRUCTIONS TO MEMBERS FOR e-VOTING ON THE Folio No., Name of Shareholder, scanned copy of the share
DAY OF THE AGM ARE AS UNDER: certificate (front and back), PAN (self-attested scanned copy
1. The procedure for e-Voting on the day of the AGM is same as of PAN card), AADHAR (self-attested scanned copy of Aadhar
the instructions mentioned above for remote e-voting. Card) by email to [email protected].
2. Only those Members/ shareholders, who will be present in 2. In case shares are held in demat mode, please provide
the AGM through VC/OAVM facility and have not casted their DPID-CLID (16-digit DPID + CLID or 16-digit beneficiary
vote on the Resolutions through remote e-Voting and are ID), Name, client master or copy of Consolidated Account
otherwise not barred from doing so, shall be eligible to vote statement, PAN (self-attested scanned copy of PAN card),
through e-Voting system in the AGM. AADHAR (self-attested scanned copy of Aadhar Card)
to [email protected]. If you are an Individual
3. Members who have voted through Remote e-Voting will be
shareholder holding securities in demat mode, you are
eligible to attend the AGM. However, they will not be eligible
requested to refer to the login method explained at
to vote at the AGM.
Step 1(A) i.e., Login method for e-Voting and joining
4. The details of the person who may be contacted for any virtual meeting for Individual shareholders holding

securities in demat mode. in their respective network. It is therefore recommended to

use Stable Wi-Fi or LAN Connection to mitigate any kind of
3. Alternatively, Shareholders /Members may send a request to
aforesaid glitches.
[email protected] for procuring user id and password for
e-voting by providing above mentioned documents. e) Members who would like to express their views or ask
4. In terms of SEBI circular dated December 9, 2020, on questions during the AGM may register themselves as a
e-Voting facility provided by Listed Companies, Individual speaker by sending their request from their registered
shareholders holding securities in demat mode are allowed email address mentioning their name, DP ID and Client ID/
to vote through their demat account maintained with folio number, PAN, mobile number at investors@tatacoffee.
Depositories and Depository Participants. Shareholders com from June 10, 2022 (9:00 a.m. IST) to June 16, 2022
are required to update their mobile number and email ID (5:00 p.m. IST). Those Members who have registered
correctly in their demat account in order to access e-Voting themselves as a speaker will only be allowed to express
facility. their views/ask questions during the AGM. The Company
reserves the right to restrict the number of speakers
INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE depending on the availability of time for the AGM.
AGM THROUGH VC / OAVM, ARE AS UNDER: Other Information:
a) Member will be provided with a facility to attend the AGM a) The Scrutinizer shall, immediately after the conclusion of
through VC/OAVM through the NSDL e-Voting system.
voting at the AGM, count the votes cast at the Meeting,
Members may access by following the steps mentioned
thereafter unblock the votes cast through remote
above for Access to NSDL e-Voting system. After successful
e-voting in the presence of at least two witnesses who are
login, you can see link of “VC/OAVM link” placed under
not in the employment of the Company and make, not later
“Join meeting” menu against company name. You are
requested to click on VC/OAVM link placed under Join than 48 hours of conclusion of the Meeting, a consolidated
Meeting menu. The link for VC/OAVM will be available in Scrutinizer’s Report of the total votes cast in favour or
Shareholder/Member login where the EVEN of Company against, if any, to the Chairman or to a person authorized by
will be displayed. Please note that the members who do the Chairman in writing who shall countersign the same.
not have the User ID and Password for e-Voting or have
b) The Chairman or the person authorized by him in writing
forgotten the User ID and Password may retrieve the same
shall forthwith on receipt of the consolidated Scrutinizer’s
by following the remote e-Voting instructions mentioned
Report, declare the Results of the voting. The Results
in the notice to avoid last minute rush.
declared, along with the Scrutinizer’s Report, shall be placed
b) Members are encouraged to join the Meeting through on the Company’s website and on the website of NSDL
Laptops for better experience. immediately after the results is declared and communicated
c) Further Members will be required to allow Camera and use to the Stock Exchanges where the equity shares of the
Internet with a good speed to avoid any disturbance during Company are listed.
the meeting.
c) Subject to the receipt of requisite number of votes, the
d) Please note that Participants connecting from Mobile Resolutions forming part of the Notice of Annual General
Devices or Tablets or through Laptop connecting via Mobile Meeting shall be deemed to be passed on the date of the
Hotspot may experience Audio/Video loss due to fluctuation AGM i.e., Monday, June 20, 2022.

Details of Directors seeking appointment/re-appointment at the Annual General Meeting (Pursuant to regulation 36(3) of the
Listing Regulations)
Name of Directors Mr. Sunil A. D’Souza Dr. P. G. Chengappa Mr. S. Venkatraman Mr. Chacko Purackal Thomas Mr. K. Venkataramanan
Director Identification 07194259 06771287 00246012 05215974 01728072
Number (DIN)
Designation/Category Non-Executive Independent Director Independent Director Managing Director & CEO Executive Director –
of Director Director (Non- Finance & CFO
Independent)
Date of Birth (age) December 31, 1967 February 11, 1952 March 9, 1959 April 9, 1970 July 30, 1961
(54 years) (70 years) (63 Years) (52 years) (61 years)
Date of first May 5, 2020 May 18, 2017 July 28, 2021 August 4, 2015 October 25, 2014
appointment on the
Board
Qualifications B.E, Ph.D. in Agricultural Graduate in Commerce, Bachelor of Science with Graduate in Commerce,
PGDM (IIM, Calcutta) Economics, M.Sc., in Fellow Member of the ICAI specialization in Computer Fellow Member of ICAI
Agricultural Economics Science; Advanced and Associate Member
Management Programme of ICWA
from INSEAD Fontainebleau
Relationship between None None None None None
Directors / Key
Managerial Personnel,
inter-se
Expertise in specific Strong domain Agricultural 35 years of rich experience in 30 years of rich experience More than three decades
functional area knowledge and Economist having Finance, Accounts, Governance in Plantation Industry across of rich experience
expertise in over three decades of and Corporate Laws general management, in diverse areas
handling consumer experience in teaching, business strategy, and sales covering financial and
products business research, extension, & marketing management accounting,
with distinct focus and academic commercial finance,
on strategy, growth, administration taxation, treasury, and
and execution. corporate restructuring,
Corporate Governance
and Risk Management
Directorships Tata Consumer T asty Bite Eatables DB Financial Services Limited
H — Tata Housing
held in other Products Limited Limited Mahanagar Gas Limited Development Company
Public Companies NourishCo SAM Agri Tech Limited Fairchem Organics Limited Limited
(excluding Foreign, Beverages Limited SAM Agri Ventures
Private and Section 8 Limited
Companies)
Memberships/ Tata Consumer Tasty Bite Eatables HDB Financial Services Limited — —
Chairmanships of Products Limited Limited - Audit Committee (Chairman)
committees of other - Stakeholders’ - Audit Committee Mahanagar Gas Limited
Public Companies Relationship (Member) - Audit Committee (Chairman)
(includes only Committee - Stakeholders’ - Stakeholders’ Relationship
Audit Committee (Member) Relationship Committee (Member)
and Stakeholders Committee Fairchem Organics Limited
Relationship (Member) - Audit Committee (Chairman)
Committee) - Stakeholders’ Relationship
Committee (Member)
No. of shares held in Nil Nil Nil Nil Nil
the Company
Terms and conditions Re-appointment As per Resolution As per Resolution at Item No. 7 As per Resolution at Item As per Resolution at
of Appointment / in terms of Section at Item No. 6 of the of the Notice of AGM read with No. 8 of the Notice of AGM Item No. 9 of the Notice
Re-appointment 152(6) of the accompanying Notice Explanatory Statement thereto read with Explanatory of AGM read with
Companies Act, of AGM read with Statement thereto Explanatory Statement
2013 Explanatory Statement thereto
thereto
Details of — — — Remuneration details as Remuneration details as
Remuneration sought set out in the Explanatory set out in the Explanatory
to be paid Statement annexed to this Statement annexed to this
Notice Notice
Note: For other details such as the number of meetings of the Board / Committee attended during the year, remuneration last drawn and
name of listed entities from which the aforesaid Directors have resigned in the past three years, please refer to the Corporate Governance
Report, which forms part of this Annual Report.

EXPLANATORY STATEMENT PURSUANT TO SECTION 149 (6) of the Act read with Regulation 16 (1)(b) of the Listing
102 OF THE COMPANIES ACT, 2013 (“ACT”) Regulations.
The following Statement sets out all material facts relating to Item In the opinion of the Board, Dr. Chengappa fulfils the conditions
No. 5 to 9 mentioned in the accompanying Notice. specified in the Act and the Rules framed thereunder read with
the Listing Regulations for his re-appointment as an Independent
Item No. 5:
Director and is independent of the management.
In terms of the provisions of Section 148 of the Act and the
In compliance with the provisions of Section 149 read with
Rules made thereunder, the Company is required to maintain
Schedule IV to the Act, a copy of the draft appointment letter in
Cost Audit records and have the same audited by a Cost Auditor.
relation to re-appointment of Dr. Chengappa as an Independent
Based on the recommendation of the Audit Committee, the Board
Non-executive Director setting out the terms and conditions
of Directors at its meeting held on April 26, 2022, appointed
of the re-appointment would be available for inspection
M/s. S. Mahadevan & Co., Cost Accountants, (Firm Registration
by the Members, by writing an email to the Company at
No. 000007), as Cost Auditor of the Company for conducting
[email protected].
the Cost Audit for the Financial Year ending March 31, 2023,
on a remuneration of `3,00,000/- (Rupees Three Lakh only), The Company has immensely benefited during the tenure of
plus applicable taxes thereon, reimbursement of travel and Dr. Chengappa as an Independent Director of the Company and
out-of-pocket expenses subject to a maximum of 10% of the the Board is satisfied with the integrity, expertise, and experience
audit fees, incurred in connection with the cost audit. (including the proficiency) of the Independent Director, who is
being re-appointed at this AGM.
Rule 14 of Companies (Audit and Auditors) Rules, 2014 as
amended, requires that the remuneration payable to the Cost The Directors recommend the resolution set out in Item No. 6 of
Auditor be ratified by the Members. Hence, the resolution at Item the accompanying notice, for approval by the Members.
No. 5 of the Notice. Dr. Chengappa is interested and concerned in the Resolution
The Directors recommend that the remuneration payable to the mentioned at Item No.6 of the Notice. None of the other Directors
Cost Auditor in terms of the resolution set out at Item No.5 of the or Key Managerial Personnel of the Company and their relatives is
accompanying Notice be ratified by the Members. concerned or interested, financially or otherwise, in the resolution.
None of the Directors or Key Managerial Personnel of the Item No. 7:

Company and their respective relatives is concerned or interested, The Board of Directors of the Company at the meeting held on
financially or otherwise, in the Resolution set out at Item No. 5 of July 28, 2021, (based on the recommendations of the Nomination
the accompanying Notice. & Remuneration Committee and subject to the approval of the
Item No. 6: Members in the General Meeting), appointed Mr. S. Venkatraman
(DIN: 00246012) as an Additional Director (Independent
The Members of the Company at the 74th Annual General Non-executive) of the Company with effect from that date.
Meeting held on July 17, 2017, had appointed Dr. P G Chengappa In terms of the provisions of Section 161 of the Act,
(DIN: 06771287) as an Independent Director to hold office for a Mr. S. Venkatraman holds the office till the date of ensuing
term of five consecutive years, i.e., upto May 17, 2022. Annual General Meeting and is eligible for appointment.
As per Section 149(10) of the Act, an Independent Director shall Further, in terms of Section 149 of the Act, an Independent
hold office for a term of upto five consecutive years on the Board Director can hold office for a term of upto five consecutive years
of a Company but shall be eligible for re-appointment on passing on the Board of a company and is not liable to retire by rotation.
a Special Resolution by the Company for another term of upto five
A brief profile / expertise of Mr. S. Venkatraman is provided in the
consecutive years on the Board of a Company.
Annexure to the Notice for information to the Members.
The Board of Directors of the Company at the meeting held
Mr. S. Venkatraman has given a declaration to the Board
on March 22, 2022 (based on the recommendations of the
that he meets with the criteria of independence as provided
Nomination & Remuneration Committee and subject to the
under Section 149(6) of the Act read with Regulation
approval of the Members in the General Meeting), re-appointed
16(1)(b) of the Listing Regulations. In the opinion of the Board,
Dr. P.G. Chengappa as an Independent Director of the Company
Mr. S. Venkatraman fulfils the conditions specified in the Act
for a second term of office for a period of three years i.e., from
and the Rules framed thereunder read with the Listing
May 18, 2022, to May 17, 2025.
Regulations, for his appointment as an Independent Director
A brief profile / expertise of Dr. Chengappa is provided in the and is independent of the management.
Annexure to the Notice for information to the Members.
Dr. Chengappa has given a declaration to the Board that he meets Schedule IV to the Act, a copy of the draft letter of appointment
with the criteria of independence as provided under Section of Mr. S. Venkatraman as an Independent Director Non-executive

Director setting out the terms and conditions of appointment Boards of such Associated Companies/ Subsidiaries or any
would be available for inspection by the Members, by writing an other Executive body or a Committee of such a Company.
email to the Company at [email protected].
C. Remuneration:
The Appointee shall be entitled to remuneration as stated
Schedule IV to the Act, the resolution for appointment of
hereunder in terms of Schedule V to the Act and as per
Mr. S. Venkatraman, as an Independent Director is placed before
Industry/Market Standards:
the Members for their approval.
The Directors recommend the resolution set out at Item No. 7 of a) Basic Salary: `6,24,240/- per month with annual
the accompanying notice, for approval by the Members. increments effective 1st April every year (starting April
2023) as may be decided by the Board, based on the
Mr. S. Venkatraman is interested and concerned in the Resolution recommendation of Nomination & Remuneration
mentioned at Item No. 7 of the Notice. None of the other Directors Committee, which is based on merit and considering
or Key Managerial Personnel of the Company and their relatives is the Company’s Performance.
concerned or interested, financially or otherwise, in the resolution.
b) Benefits, Perquisites, Allowances:
Item No. 8:
In addition to the Basic Salary referred to in (a) above,
The Members of the Company at the 76th Annual General the Managing Director & CEO shall be entitled to:
Meeting held on June 3, 2019, had approved the appointment of
Mr. Chacko Purackal Thomas (DIN: 05215974) as the Managing A. Rent-free residential accommodation (furnished
Director & CEO for a period of 3 years, i.e., from April 1, 2019 to or otherwise) the Company bearing the cost of
March 31, 2022. repairs, maintenance, society charges and utilities
(e.g., gas, electricity, and water charges) for the
The Board of Directors at the meeting held on March 22, 2022 said accommodation.
(based on the recommendations of the Nomination &
Remuneration Committee and subject to the approval of the OR
Members in the General Meeting), re-appointed Mr. Chacko House Rent, House Maintenance and Utility
Purackal Thomas as the Managing Director & CEO of the Company Allowances aggregating 85% of the Basic Salary
for a period of three (3) years i.e., from April 1, 2022 to March (in case residential accommodation is not
31, 2025. Further, the terms of remuneration in relation to the provided by the Company).
said re-appointment was recommended by the Nomination &
Remuneration Committee and approved by the Board on April 26, B. Hospitalization, Telecommunication, Housing
2022, to be effective from April 1, 2022, as provided herein below. Loan Subsidy, and other facilities:
Mr. Chacko Thomas has over 30 years of rich experience and  Medical Insurance Cover: Hospitalization
expertise in the field of Plantations, Business Strategy, Sales and and major medical expenses for self, spouse
Marketing and overall leadership and is currently the Managing and dependent (minor) children as per
Director & CEO of the Company. Before joining Tata Coffee, Policy of the Company.
Mr. Chacko Thomas was the Managing Director of Kannan Devan
 Telecommunication facilities including
Hills Plantations Company Private Limited, Munnar.
broadband, internet, and fax and 1 company
The principal terms and conditions of re-appointment of provided mobile phone, as per Policy of the
Mr. Chacko Thomas (hereinafter referred to as “the Appointee”) Company.
including the terms of remuneration are given below:
C. Reimbursement of interest on the Housing Loan
A. Tenure of Appointment: The re-appointment of Mr. Chacko availed by him for acquisition of residential
Thomas as the Managing Director & CEO is for a period of Property, subject to maximum Loan Amount
three (3) years i.e., from April 1, 2022 to March 31, 2025. of `50 Lakh and interest reimbursement upto
10% of the total interest charged by the Lending
B. Nature of Duties: The Appointee shall devote his whole time
Institution, which shall not exceed the interest
and attention to the business of the Company and carry
rates charged by the Housing Development
out such duties as may be entrusted to him by Board, and
Finance Corporation (HDFC).
exercise such powers as may be assigned to him, subject to
the superintendence, control and directions of the Board, in D. Car, with Driver provided and maintained by
connection with and in the best interests of the Company the Company for official and personal use (OR)
and the business of any one or more of its Associated Cash Allowance of `70,000/- (Rupees Seventy
Companies and/or Subsidiaries, including performing duties Thousand only) per month, with Company
as assigned by the Board from time to time by serving on the provided Driver and fuel expenses at actuals.

E. Other perquisites and allowances given below amount payable to the Managing Director & CEO will
subject to a maximum of 55% of the Annual Basic be based on performance as evaluated by the Board
Salary; or a Committee thereof duly authorized in this behalf,
which shall not exceed 24 Months’ Basic Salary and will
Sl. Perquisite/Allowance % be payable annually after the Annual Accounts have
No. been approved by the Board.
a. Allowances 33.34
b. Leave Travel Concession/Allowance 8.33 d) Minimum Remuneration:
c. Medical Allowance 8.33 Notwithstanding anything to the contrary herein
d. Personal Accident Insurance* @ actuals subject 5.00 contained, where in any Financial Year during the
e. Club Membership fees for 1 club (*) to a cap of currency of the tenure of the Managing Director & CEO,
Total 55.00 the Company has no profits or its profits are inadequate,
(*)
The Company will pay the amounts for these benefits directly to the concerned the Company will pay to the Managing Director & CEO,
entities. The figures shown above are a valuation and are not payable in cash remuneration by way of Salary, Benefits, Perquisites and
or allowance form to the executive unless approved otherwise.
Allowances, and Commission / Incentive as specified
F. Contribution to Provident Fund, Superannuation above.
Fund or Annuity Fund and Gratuity Fund as per
e) Other terms of re-appointment:
the Rules of the Company.
(i) The Appointee shall not become interested or
G. The MD & CEO shall be entitled to leave in otherwise concerned, directly or through his spouse
accordance with the Rules of the Company. and/or children, in any selling agency of the Company.
Privilege Leave earned but not availed by the MD
(ii) The terms and conditions of the re-appointment of
& CEO is encashable in accordance with the Rules
the Appointee may be altered and varied from time to
of the Company.
time by the Board as it may, in its discretion deem fit,
H. The Managing Director & CEO shall be entitled to irrespective of the limits stipulated under Schedule V
payment of Educational Allowance for education to the Act or any amendments made hereafter in this
subject to a maximum of two children below 24 regard in such manner as may be agreed to between
years of age as per detailed hereunder: the Board and the Appointee subject to such approvals
as may be required.
i. An amount of `6,000/- per month shall be
payable in respect of the children studying (iii) The appointment may be terminated by either party
in educational institutions as boarders in by giving to the other party six months’ notice of
accredited hostels, situated outside the such termination or the Company paying six months’
remuneration in lieu thereof.
district where the Managing Director &
CEO is working and within the district if (iv) The employment of the Appointee may be terminated
the institution provides only residential by the Company without notice or payment in lieu of
programme in the class of study. notice:
(a) if the Appointee is found guilty of any gross
ii. An amount of `5,000/- per month shall be
negligence, default, or misconduct in connection
payable in respect of children studying in
with or affecting the business of the Company or
educational institutions outside the district
any subsidiary or associate company to which he
where the Managing Director & CEO is is required to render services; or
working, where the children stay as paying
guests or with one of the relatives/parents (b) in the event of any serious, repeated, or continuing
breach (after prior warning) or non-observance by
provided the Institution does not have
the Appointee of any of the stipulations contained
Boarding facility or accredited Hostels.
in the agreement to be executed between the
c) Commission / Incentive: Company and the Appointee (“Agreement”); or
Such remuneration by way of commission / incentive, (c) in the event the Board expresses its loss of
in addition to the salary and perquisites and allowances confidence in the appointee.
payable, calculated with reference to the Net Profits of (v) In the event the Appointee is not able to discharge his
the Company in a particular Financial Year, as may be official duties due to any physical or mental incapacity,
determined by the Board of the Company at the end the Board shall be entitled to terminate his contract on
of each Financial Year, subject to the overall ceilings such terms as the Board may consider appropriate in
stipulated in Section 197 of the Act. The specific the circumstances.

(vi) Upon the termination by whatever means of the Item No. 9:
appointee’s employment: The Members of the Company at the 77th Annual General Meeting
(a) the Appointee shall immediately tender his held on June 29, 2020, had approved the re-appointment of
resignation from offices held by him in any Mr. K Venkataramanan (DIN: 01728072) as the Executive Director
subsidiaries and associate companies and other – Finance & CFO for a period of 2 years, i.e., from October 25, 2020
entities without claim for compensation for loss to October 24, 2022.
of office. The Board of Directors at the meeting held on March 22, 2022
(based on the recommendations of the Nomination &
(b) the Appointee shall not without the consent of Remuneration Committee and subject to the approval
the Company at any time thereafter represent of the Members in the General Meeting), re-appointed
himself as connected with the Company or any of Mr. K. Venkataramanan as the Executive Director - Finance & CFO
the subsidiaries or associate companies. of the Company for a further period of one (1) year i.e., from
(c) The terms and conditions of re-appointment of October 25, 2022, to October 24, 2023. Further, the terms
the Appointee also include clauses pertaining to of remuneration in relation to the said re-appointment was
adherence with the Tata Code of Conduct and recommended by the Nomination & Remuneration Committee
maintenance of confidentiality. and approved by the Board on April 26, 2022, to be effective
from October 25, 2022, as provided herein below.
(vii) If and when the Agreement relating to appointment Mr. Venkataramanan is a qualified Chartered Accountant and a
expires or is terminated for any reason whatsoever, the Cost Accountant with over three decades of rich experience in
Appointee will cease to be the Managing Director & diverse areas covering financial and management accounting,
CEO and cease to be a Director of the Company. commercial finance, taxation, treasury, and Corporate
(viii) The remuneration payable to the Appointee is Restructuring, Corporate Governance, Risk Management.
commensurate with industry standards and Board The principal terms and conditions of re-appointment of
level positions held in similar sized companies, taking Mr. K. Venkataramanan (hereinafter referred to as “the Appointee”)
into consideration the individual responsibilities including the terms of remuneration are given below:
shouldered by them. A. Tenure of Re-appointment:
In compliance with the provisions of Sections 196, 197, 203 and The re-appointment of Mr. K. Venkataramanan as the
other applicable provisions, if any, of the Act, read with Schedule V Executive Director- Finance & CFO is for a period of 1 year
thereto, the terms of re-appointment and remuneration specified i.e., from October 25, 2022, to October 24, 2023.
above are now being placed before the Members for their B. Nature of Duties:
approval.
The Appointee shall devote his whole time and attention
Draft of the agreement to be entered into between the Company to the business of the Company and carry out such duties
and Mr. Chacko Purackal Thomas setting out the terms and as may be entrusted to him by the Board, and exercise
conditions of the re-appointment would be available for such powers as may be assigned to him, subject to the
inspection by the Members by writing an email to the Company superintendence, control and directions of the Board and
at [email protected]. the Managing Director of the Company, in connection with
and in the best interests of the Company and the business
The Company has immensely benefited during Mr. Chacko
of any one or more of its Associated Companies and/or
Thomas’s tenure as Managing Director & CEO since April 2019. Subsidiaries, including performing duties as assigned by the
The Board considers that his continued association would be of Board from time to time by serving on the Boards of such
immense benefit to the Company. The Board is satisfied with the Associated Companies/ Subsidiaries or any other Executive
integrity, expertise, and experience (including the proficiency) Body or a Committee of such a Company.
of Mr. Chacko Thomas who is being re-appointed at this AGM
and accordingly, the Board recommend the resolution for his C. Remuneration:
re-appointment as set out at Item No. 8 of the accompanying The Appointee shall be entitled to remuneration as stated
Notice for approval by the Members of the Company. hereunder in terms of Schedule V to the Act and as per
Industry/Market Standards:
Mr. Chacko Thomas, being an Appointee, is interested and
concerned in the Resolution mentioned at Item No. 8 of the Notice. a) Basic Salary: `5,02,200/- per month with annual
increments effective 1st April every year (starting April
None of the other Directors or Key Managerial Personnel of the 2023) as may be decided by the Board, based on the
Company and their relatives is concerned or interested, financially recommendation of Nomination & Remuneration
or otherwise, in the Resolution set out at Item No. 8 of the Committee, which is based on merit and considering
accompanying Notice. the Company’s Performance.

b) Benefits, Perquisites, Allowances: F. Contribution to Provident Fund, Superannuation

In addition to the Basic Salary referred to in (a) above, Fund or Annuity Fund and Gratuity Fund as per
the Executive Director – Finance & CFO shall be entitled the Rules of the Company.
to: G. The Executive Director – Finance & CFO shall be
A. Rent-free residential accommodation (furnished entitled to leave in accordance with the Rules
or otherwise) the Company bearing the cost of of the Company. Privilege Leave earned but not
repairs, maintenance, society charges and utilities availed by the Executive Director – Finance & CFO
(e.g., gas, electricity, and water charges) for the is encashable in accordance with the Rules of the
said accommodation. Company.
OR H. The Executive Director – Finance & CFO shall be
entitled to payment of Educational Allowance for
House Rent, House Maintenance and Utility
education subject to a maximum of two children
Allowances aggregating 85% of the Basic Salary
below 24 years of age, as per detailed hereunder:
(in case residential accommodation is not
provided by the Company). i. An amount of `6,000/- per month shall be
B. Hospitalization, Telecommunication, Housing payable in respect of the children studying
Loan Subsidy, and other facilities: in educational institutions as boarders in
accredited hostels, situated outside the
 Medical Insurance Cover: Hospitalization district where the Executive Director –
and major medical expenses for self, spouse Finance & CFO is working and within the
and dependent (minor) children as per district if the institution provides only
Policy of the Company. residential programme in the class of study.
 Telecommunication facilities including
ii. An amount of `5,000/- per month shall be
broadband, internet, and fax and 1 company
payable in respect of children studying in
provided mobile phone, as per Policy of the
educational institutions outside the district
Company.
where the Executive Director – Finance &
C. Reimbursement of interest on the Housing Loan CFO is working, where the children stay as
availed by him for acquisition of residential paying guests or with one of the relatives/
Property, subject to maximum Loan Amount parents provided the Institution does not
of `50 Lakh and interest reimbursement upto have Boarding facility or accredited Hostels.
10% of the total interest charged by the Lending
c) Commission / Incentive:
Institution, which shall not exceed the interest
rates charged by the Housing Development Such remuneration by way of commission / incentive,
Finance Corporation (HDFC). in addition to the salary and perquisites and allowances
D. Car, with Driver provided and maintained by the payable, calculated with reference to the Net Profits of
Company for official and personal use (OR) Cash the Company in a particular Financial Year, as may be
Allowance of `70,000/- (Rupees Seventy Thousand determined by the Board of the Company at the end
only) per month, with Company provided Driver of each Financial Year, subject to the overall ceilings
and fuel expenses at actuals. stipulated in Section 197 of the Act. The specific
amount payable to the Executive Director – Finance &
E. Other perquisites and allowances given below CFO will be based on performance as evaluated by the
subject to a maximum of 55% of the Annual Basic Board or a Committee thereof duly authorized in this
Salary: behalf, which shall not exceed 18 Months’ Basic Salary
Sl. Perquisite/Allowance % and will be payable annually after the Annual Accounts
No. have been approved by the Board.
a. Allowances 33.34
d) Minimum Remuneration:
b. Leave Travel Concession/Allowance 8.33
c. Medical Allowance 8.33 Notwithstanding anything to the contrary herein
d. Personal Accident Insurance (*) 5.00 contained, where in any Financial Year during the
e. Club Membership fees for 1 club (*) @ actuals subject to currency of the tenure of the Executive Director –
a cap of
Finance & CFO, the Company has no profits or its
Total 55.00
profits are inadequate, the Company will pay to the
(*)
The Company will pay the amounts for these benefits directly to the
concerned entities. The figures shown above are a valuation and are Executive Director – Finance & CFO, remuneration by
not payable in cash or allowance form to the executive unless approved way of Salary, Benefits, Perquisites and Allowances, and
otherwise. Commission / Incentive as specified above.

e) Other terms of re-appointment: vii. If and when the Agreement relating to re-appointment
i. The Appointee shall not become interested or expires or is terminated for any reason whatsoever,
otherwise concerned, directly or through his spouse the Appointee will cease to be the Executive Director
and/or children, in any selling agency of the Company. – Finance & CFO and cease to be a Director of the
ii. The terms and conditions of the re-appointment of Company.
the Appointee may be altered and varied from time to viii. The remuneration payable to the Appointee is
time by the Board as it may, in its discretion deem fit, commensurate with industry standards and Board
irrespective of the limits stipulated under Schedule V level positions held in similar sized companies, taking
to the Act or any amendments made hereafter in this into consideration the individual responsibilities
regard in such manner as may be agreed to between shouldered by them.
the Board and the Appointee subject to such approvals
as may be required. In compliance with the provisions of Sections 196, 197, 203 and
other applicable provisions, if any, of the Act, read with Schedule V
iii. The re-appointment may be terminated by either
thereto, the terms of re-appointment and remuneration specified
party by giving to the other party six months’ notice of
above are now being placed before the Members for their
such termination or the Company paying six months’
remuneration in lieu thereof. approval.
iv. The employment of the Appointee may be terminated Draft of the agreement to be entered into between the Company
by the Company without notice or payment in lieu of and Mr. Venkataramanan setting out the terms and conditions
notice: of the re-appointment would be available for inspection
by the Members by writing an email to the Company at
a) if the Appointee is found guilty of any gross
[email protected].
negligence, default, or misconduct in connection
with or affecting the business of the Company or The Company has immensely benefited during
any subsidiary or associate company to which he Mr. Venkataramanan’s tenure as Executive Director- Finance &
is required to render services; or CFO since October 2014. The Board considers that his continued
b) in the event of any serious, repeated, or continuing association would be of immense benefit to the Company. The
breach (after prior warning) or non-observance by Board is satisfied with the integrity, expertise, and experience
the Appointee of any of the stipulations contained (including the proficiency) of Mr. Venkataramanan who is being
in the agreement to be executed between the re-appointed at this AGM and accordingly, the Board recommend
Company and the Appointee (“Agreement”); or the resolution for his re-appointment as set out at Item No. 9 of
the accompanying Notice for approval by the Members of the
c) in the event the Board expresses its loss of
Company.
confidence in the appointee.
v. In the event the Appointee is not able to discharge his Mr. K. Venkataramanan, being an Appointee, is interested and
official duties due to any physical or mental incapacity, concerned in the Resolution mentioned at Item No. 9 of the Notice.
the Board shall be entitled to terminate his contract on None of the other Directors or Key Managerial Personnel of the
such terms as the Board may consider appropriate in Company and their relatives is concerned or interested, financially
the circumstances. or otherwise, in the Resolution set out at Item No. 9 of the
vi. Upon the termination by whatever means of the accompanying Notice.
Appointee’s employment:
By Order of the Board
a) the Appointee shall immediately tender his
resignation from offices held by him in any
subsidiaries and associate companies and other N. Anantha Murthy
entities without claim for compensation for loss
Place: Bengaluru Head – Legal & Company Secretary
of office.
Date: April 26, 2022 Membership No. ACS 17134
b) the Appointee shall not without the consent of
the Company at any time thereafter represent Registered office:
himself as connected with the Company or any of Pollibetta – 571 215,
the subsidiaries or associate companies. Kodagu, Karnataka
c) The terms and conditions of re-appointment of CIN : L01131KA1943PLC000833
the Appointee also include clauses pertaining to Tel : + 91 82742 51411/13
adherence with the Tata Code of Conduct and Email : [email protected]
maintenance of confidentiality. Website : www.tatacoffee.com

Board’s Report
To the Members,
Your Directors are pleased to present the 79th Annual Report of Tata Coffee Limited (“the Company”) along with the Audited Financial
Statements for the financial year ended March 31, 2022.
Financial Results:
The financial performance of the Company for the year ended March 31, 2022, on a Standalone and Consolidated basis, is summarised
below:
(₹ crore)
Particulars Standalone Consolidated

2021-22 2020-21 2021-22 2020-21
Revenue from Operations 817 737 2363 2255
Other Income 70 78 26 34
Total Income 887 815 2389 2289
Expenses
Operating Expenditure 740 672 1991 1919
Depreciation and Amortization Expenses 24 24 81 83
Total Expenses 764 696 2072 2002
Profit before Exceptional Items and Taxes 123 119 317 287
Add: Exceptional Items and Taxes (1) - (6) (3)
Profit before Tax (PBT) 122 119 311 284
Tax expense 20 18 78 72
Profit for the year 102 101 233 212
Attributable to:
Shareholders of the Company 102 101 148 134
Non-Controlling Interests - 85 78
Surplus brought forward from Previous Year 633 562 782 678
Amount available for appropriation 735 663 930 812
General Reserve I - - - -
General Reserve II (16) (8) (16) (8)
Reversal of Dividend Distribution Tax / Deferred Tax - 6 - 6
Dividend paid relating to Previous Year (28) (28) (28) (28)
Balance carried forward 691 633 885 782
1. Total Income 2. Profits

Standalone
Standalone
Profit before Tax for the year 2021-22 was ₹122 crore as
Your Company’s Total Income during the year under review against ₹119 crore in the previous year. Profit after Tax for the
was ₹887 crore as compared to `815 crore in the Previous year 2021-22 stood at ₹102 crore as against ₹101 crore in the
previous year.
Year.
Consolidated
Consolidated On a consolidated basis, Profit before Tax for the year
2021-22 was ₹311 crore as against ₹284 crore in the previous
Consolidated Total Income during the year under review was
year. Profit after Tax (net of minority interest) for the year
`2389 crore as compared to `2289 crore in the Previous Year, 2021-22 stood at ₹148 crore as against ₹134 crore in the
registering an increase of `100 crore over the previous year. previous year.

3. Dividend Management continues to closely monitor the situation as it
evolves and do it’s best to take all necessary measures, in the
The Board of Directors have recommended a Dividend of
interests of all stakeholders of the Company.
₹2.00 per share (previous year ₹1.50 per share) on face value
of ₹1 each for the financial year ended March 31, 2022. 8. Key Developments: Composite Scheme of Arrangement
The total dividend outgo amounts to ₹37.35 crore
(previous year ₹28.02 crore). The Board of Directors of the Company, at its meeting held
on March 29, 2022, have approved a Composite Scheme of
The Register of Members and Share Transfer Books of the Arrangement amongst Tata Consumer Products Limited
Company will remain closed from June 4, 2022 to June 13, (“TCPL”), the Company and TCPL Beverages and Foods
2022 (both days inclusive) for ascertainment of shareholders Limited (“TBFL”), and their respective shareholders and
eligible to receive dividend for the financial year ended creditors, under Sections 230 to 232 and other applicable
March 31, 2022. provisions of the Companies Act, 2013 and the rules and/ or
In terms of Regulation 43A of SEBI (Listing Obligations and regulations made thereunder (‘the Scheme’).
Disclosure Requirements) Regulations, 2015 (“the Listing TCPL is the Holding Company of the Company and TBFL is a
Regulations”), the Dividend Distribution Policy duly approved wholly owned subsidiary of TCPL.
by the Board is available on the website of the Company and
can be accessed at https://tatacoffee.com/sites/default/ The Scheme inter alia provides for the following:
files/collaterals/investors/Dividend_Distribution_Policy_0.
(a) as a first step, the demerger of the Plantation Business
pdf. The Board has recommended dividend based on the
of the Company into TBFL and in consideration, the
parameters laid down in the Dividend Distribution Policy
consequent issuance of equity shares by TCPL (as the
and dividend will be paid out of the profits for the year.
holding company of TBFL) to all the shareholders of
4. Transfer to Reserves the Company (other than TCPL) in accordance with the
Share Entitlement Ratio (“Demerger”);
The Board of Directors have decided to retain the entire
amount of profit for financial year 2021-22 in the Statement (b) as a second step, followed immediately by the
of Profit & Loss as at March 31, 2022. amalgamation of the Company (comprising the
Remaining Business of the Company with TCPL and in
5. Share Capital
consideration, the consequent issuance of equity shares
The Paid-up Equity Share Capital of the Company as on by TCPL to all the shareholders of the Company (other
March 31, 2022 was ₹18.67 crore comprising of 18,67,70,370 than TCPL) in accordance with the Share Exchange
equity shares of ₹1 each. During the year under review, your Ratio (“Amalgamation”); and
Company has neither issued any shares with differential
voting rights nor has granted any stock options or sweat (c) various other matters consequential or otherwise
equity. The Company has paid Listing Fees for the financial integrally connected therewith.
year 2022-23, to each of the Stock Exchanges, where its The Scheme is subject to receipt of the approval of
equity shares are listed. the requisite majority of the public shareholders and
6. Material changes and commitment – if any, affecting creditors (if applicable) of the Companies, the Stock
financial position of the Company from the end of the Exchanges, the Securities and Exchange Board of India,
Financial Year till the date of this Report National Company Law Tribunals (benches at Kolkata
and Bengaluru) and other regulatory authorities, as
There has been no material change and commitment, may be applicable.
affecting the financial performance of the Company which
occurred between the end of the Financial Year of the On effectiveness of the Scheme, the shareholders of the
Company to which the financial statements relate and the Company (other than TCPL) as on the record date will receive
date of this Report. an aggregate of 3 (three) equity shares of TCPL for every
10 (ten) equity shares held by them in the Company,
7. COVID-19 and its impact through the issuance of:
During the 2nd wave of the Pandemic, the country was faced
 1 (one) equity share of TCPL for every 22 (twenty-two)
with lot of difficulties due to higher infections. Your Company equity shares of TCL, in consideration for the demerger
managed to navigate well through the difficult situation (as per the approved share entitlement ratio); and
with support of its employees and the Management. There
were no disruption to the Operations of the Company  14 (fourteen) equity shares of TCPL for every 55
and its wholly owned Subsidiary, Tata Coffee Vietnam (fifty-five) equity shares of TCL, in consideration for the
Company Limited, in Vietnam. However, the Board and the merger (as per the approved share exchange ratio).

The proposed Scheme would be in the best interest lower by 7% from that of last year and Robusta production at
of the Companies and their respective shareholders, 73.20 million bags up by 5% from that of last coffee year.
employees, creditors and other stakeholders as the In 2021-22, consumption is expected to exceed production
proposed restructuring pursuant to this Scheme is by 3.1 million bags. Supply and demand trends may be
expected, inter alia, to result in the following benefits: affected by variations due to the downturn in the world
Benefits of the Demerger: economy, increased cost of inputs and production as well
import and consumption due to the conflict in Ukraine.
(a) Creating a dedicated plantation vertical with focused
attention on the plantation business, which will enable The New York [Intercontinental Exchange (ICE)] May terminal,
increased efficiencies and generate synergies amongst the representing Arabica settled at 226.40 c/ lb on March 31,
various plantation businesses wholly or partly owned by TCPL 2022 as compared to 123.50 c/ lb on March 31, 2021.
and better resource allocation, resulting in enhancement of As on March 31, 2022, the London Robusta May futures
shareholders’ value. settled at 2165 USD / MT as compared to 1342 USD / MT on
(b) The shareholders of TCL (other than TCPL) will be allotted March 31, 2021.
shares of TCPL and therefore will be shareholders of a larger 10. Company’s Performance
branded consumer products business with multiple growth
avenues and at the same time, will continue to participate in A. Plantations
the plantation business.
Weather:
(c) The profile, operations, management risk and return
associated with the Plantation Business is distinct from that We have recorded a total rainfall of 72.01 inches during
of the Remaining Business and therefore the Scheme would the current calendar year as against 60.74 inches for the
lead to sharper focus on both the businesses. same period last year.
Benefits of the Amalgamation: During the season, we have recorded well distributed
(a) Integration of the Company’s and TCPL’s extraction business rainfall but the post monsoon rainfall extended till
activities under a single entity through the amalgamation December impacting the crop.
will result inter-alia in focused management attention, Coffee
operational efficiencies, revenue and cost synergies including
from commonality of customers, sales and supply chain During the financial year 2021-22, the Company has
opportunities through enhanced geographical reach with a harvested a Robusta crop of 5506 MT against 6136 MT
wider variety of product offerings which will help in gaining in the previous year. In case of Arabica, a production of
market share, optimization of capital, operational (including 1209 MT has been harvested against 1716 MT in the
promotion) expenditure, leveraging sales and distribution previous season. The coffee harvesting operation has
network and simplification of overlapping infrastructure. been completed and Robusta gleaning operation is in
(b) The amalgamation of the Company with TCPL would bring progress.
about synergy of operations and benefit of scale and We were able to complete 100% blossom and during
additionally, the legal and regulatory compliances of both the course of backing irrigation we received good
the listed entities will be unified and streamlined. natural backing showers. Post-harvest operations
(c) The amalgamation will enable efficient consolidation of such as handling, and white stem borer control are in
ownership interests in the international branded business progress.
owned by TCPL and the Company which will result in cost
benefits, higher operating and other efficiencies. Tea
The Company is in the process of obtaining necessary During the financial year 2021-22, the Company
regulatory approvals including approval of its Shareholders, produced 4.240 million kgs against 4.946 million kgs
Creditors, Stock Exchanges and National Company Law in the previous year. The turnover during the year
Tribunal, as may be required in this regard. was ₹64 crore as against ₹90 crore last year. While the
9. Global Coffee Scenario pandemic, extended monsoon and incidence of Tea
Mosquito Bug (TMB) impacted production, challenges
According to the estimates of the International Coffee of a sharp drop in tea prices from last year’s record levels
Organization (ICO), for the coffee year 2021-22, global and a higher wage and input cost impacted the turnover.
production is at 167.17 million bags, registering a decrease
of 2.1% as compared to 170.83 million bags during previous During the year, the South Indian Sale average declined
coffee year. Arabica Coffee production 93.97 million bags, by 21.35% and North India by 12.38% compared to

the previous year. Pan India production was higher by AMA Plantation Trails
4% but lower than pre-pandemic period. South India
The operations of Ama Plantation Trails, the hospitality
production was marginally lower by 1%.
business of the Company have recovered from
Pepper the effects of Covid Pandemic and the bookings
have reached the level of pre-pandemic levels. The
The Company has achieved a pepper production of
Company’s association and partnership with Indian
713 MT for the financial year 2021-22 against 790 MT
Hotels Company Limited have augmented well for the
harvested during financial year 2020-21. At plantations,
operations leveraging group synergies and immersive
Pepper watering during summer months is a
experiences for the guests.
continuous process to protect the vines from moisture
stress. B. Instant Coffee Operations
Kushalnagar - Coffee Curing Works & Pepper During financial year 2021-22, Instant Coffee Division
Processing Unit performed well despite global headwinds induced by
Kushalnagar Works, Coffee Curing Unit is an important COVID-19 pandemic and accentuated in steep increase in
cog in the wheels of Tata Coffee. The facility is a Ocean freights, packing material costs and energy costs.
processing hub for Tata Coffee’s entire produce of The challenges during the year were overcome by smart
Coffee, and also extends green coffee processing sourcing of green beans, focused productivity and cost
services to the coffee growers in South India, spread enhancement measures and continuous focus on developing
across various growing Regions. Additionally, it also customized products.
houses the Pepper processing Unit, and two roasting
Units for Tata Coffee Grand and Tata Starbucks. The Unit The new state-of-the-art 5000 Tonnes per annum, Freeze-
is certified for ISO 9001:2015, SA-8000:2014, Rain Forest dried Coffee Plant in Vietnam has achieved 98% capacity
Alliance (RSA), Organic Coffee processing, and Café utilization with enhanced yields and improvement in unit
Practices. operational metrics. The manufacturing units at Theni
and Toopran in India have performed well with a capacity
The Pepper Processing Center is certified by Export utilization of 98% despite severe operating constraints. New
Inspection Agency (EIA), which enables the Company technologies have been adopted to reduce energy and
to process pepper, meeting all the required Global water consumption, improve safety and enhance people
Standards. The Unit is also certified for Organic Pepper productivity through training.
processing and is certified under FSSC 22000 5.1, and
SA 8000:2014. The Company continues to enhance its market standing
and competitive edge by enhanced product portfolio,
Coffee & Pepper Exports customized solutions and new products. The year 2021-22
During the financial year 2021-22, the green coffee has witnessed continued diversification of our sales and
sales exceeded 10,000 MT, out of which the exports market portfolio.
stood at 7,977 MT of coffee as against 7,325 MT in C. Starbucks Roastery
the previous year. Your Company continued to focus
on growth through premiumization, building a wider A state-of-the-art roasting plant for Tata Starbucks is also
market outreach and building relationships with the located at Kushalnagar and produces single origin coffees
best in class roasters globally. of India, Kenya and Sumatra, as well as Cold Brew, Espresso,
Blonde Espresso and Diwali Blend variants, catering to the
The total sales of pepper for the company stood
exclusive requirements of Tata Starbucks outlets across India.
at 845 MT in FY 2021-22 as against 885 MT in
An additional roasting and automated packing line have
FY 2020-21. Your company was able to place certified
been added, to cater to the growth plans of Tata Starbucks.
pepper in the market, capitalizing on increased demand
The Unit is certified under FSSC 22000 5.1, SA-8000:2014, and
of sustainable produce in the market and with a steady
compliance to Ethical Sourcing requirement of Starbucks.
increase in volumes.
D. Tata Coffee Grand
On Instant Coffee, in FY 2021-22, your company
clocked sales of 8,495 MT from Indian operations and Tata Coffee Grand leverages the deep heritage of Tata in
4,865 MT from the Vietnam operation. The sales coffee and has a product that is an innovative offering in the
numbers were 7,446 MT and 4,536 MT respectively Indian market within the instant coffee portfolio. Tata Coffee
from India and Vietnam for FY 2020-21. Despite Grand is an intensely rich and aromatic coffee, a blend of
headwinds and inflationary pressures across inputs, the finest coffee powder & “flavor locked decoction crystals”
we were able grow our sales across regions, enter new which gives consumers a ‘best in class’ taste experience in
markets, and maintain share with key customers. the instant coffee category. The portfolio also has Roast &

Ground (Filter coffee) variant with a widespread presence 9. ICD Theni has recently won prestigious Award-
across all the southern states. EHS Excellence & Maturity Award (Bronze) from by
CII-Southern Region
A new launch in the portfolio is Tata Coffee Quick Filter which
was launched in October 2021. Quick Filter is a flavoured 10. Highest Exporter Award for FY 2018-19 and 2019-20
instant coffee chicory mix that delivers the taste of filter to Theni Unit from MEPZ, Ministry of Commerce and
Industry
coffee, making it convenient for those who do not have the
time or expertise to make filter coffee to easily experience 12. Capital Expenditure
the aromatic, flavorful taste of filter coffee.
During the year, ₹44 crore was incurred towards capital
E. Sonnets expenditure primarily on account of modernization,
upgradation, re-planting, welfare and other programmes
‘Sonnets by Tata Coffee’, a range of Reserve Single Origin undertaken in various units of the Company.
Limited Edition Coffee produced from high quality Arabica
13. New technology and sustainability projects at Instant
coffee beans was launched in February 2021, which is
Coffee Units
distributed and marketed by the Holding Company viz.,
Tata Consumer Products Limited. The roasting, grinding and During the year under review, the Company has invested in
packaging of the Product is done out of Kushal Nagar Works. newer technologies and sustainability projects as under:
This range of roast and ground coffee provides a unique a. Theni Unit has introduced Adiabatic cooling system
taste experience. replacing cooling towers to reduce water requirement
by about 20%.
11. Awards
b. Theni Unit has invested a back-pressure turbine which
During the year under review, the Company has received the has led to savings of 650 units of electricity, per day.
following awards:
c. Introduction of high efficiency motors and pumps
1. ICD Theni won the Gold Award issued by the Society replacing old motors and pumps in ICD Theni, has led
of Energy Engineers and Managers for Energy (SEEM) to savings of about 1900 units of electricity per day.
as a recognition for the efforts towards achieving d. ICD Toopran introduced Zero Liquid Discharge system
sustainable energy performance at the unit using scale ban technology to recover and recycle 60
Kilo Litres of water per day.
2. ICD Theni Unit won Greentech energy conservation
Award for FY 2020-21 for sustainability initiatives & 14. Subsidiary Companies and Consolidated Financial
energy Management, from Greentech Foundation, Statements
New Delhi Subsidiary Companies
3. Top Exporter in Karnataka (Silver) for FY 2020- I. Consolidated Coffee Inc. (CCI) and Eight O’ Clock
21 recognised by Federation of Indian Export Holdings Inc.
Organisations CCI is the Holding Company of Eight O’ Clock
4. Export Excellence Award (FY 2016-17 & FY 2017-18) Holdings Inc. and Eight O’ Clock Holdings Inc. is the
Holding Company of Eight O’ Clock Coffee Company.
by Madras Export Processing Zone (MEPZ), Ministry of
The Consolidated Net Profit of CCI after taxes was
Commerce and Industry
₹172 crore (USD 23.109 million) as compared to
5. Sustainable Agriculture Award from Federation of ₹156 crore (USD 20.973 million) for the previous year.
Indian Chamber of Commerce & Industry (FICCI) II. Eight O’ Clock Company (EOC)
6. Best of the Best Coffee in the World - India’s Best Coffee The Total Income of EOC during the financial year
- Ernesto Illy International Coffee award 2021-22 was ₹1295 crore (USD 175 million) compared
to ₹1293 crore (USD 174 million) in the previous
7. Plantations and ICD Theni won the Gold Award, and Financial Year. The Bag coffee volumes were down
ICD Toopran won the Silver Award–OHSSAI Foundation compared to previous year due to the Covid spike in
HSE&S Excellence Award the first half of the year. K-cup volumes were up on
the strength from our new value sized products and
8. ICD Toopran was awarded the HR Achievers Gold Star increased spend in trade marketing to make pricing
Award-2021 from Federation of Telangana Chambers of more competitive. EOC’s private label business also
Commerce and Industry (FTCCI) grew both in volumes, turnover and operating profits.

The focus going forward is to grow the base through https://tatacoffee.com/sites/default/files/collaterals/
line extensions and white space opportunities. investors/Policy_for_Determining_Material_for_
Disclosure.pdf.
III. Tata Coffee Vietnam Company Limited (TCVCL)
15. Directors’ Responsibility Statement
The Total Income of TCVCL, a wholly owned subsidiary
of Tata Coffee Ltd., during the financial year 2021-22 Based on the framework of Internal Financial Controls and
was ₹258 crore (USD 34.745 million) compared to ₹228 compliance systems established and maintained by the
crore (USD 30.653 million) in the previous financial year. Company, the work performed by the Internal Auditors,
TCVCL commissioned a 5000 MTPA Freeze-dried Statutory Auditors and Secretarial Auditors, including the
Coffee Plant in Vietnam during May 2019. The plant Audit of Internal Financial Controls over financial reporting
has successfully ramped up capacity to the levels of by the Statutory Auditors and the reviews performed by
upto 98% in its third year of operation despite the Management and the relevant Board Committees, including
COVID-19 pandemic and related issues in Vietnam. the Audit Committee, the Board is of the opinion that the
The unit was able to operate without any production Company’s internal financial controls were adequate and
loss and ensured safety of plant personnel. During the effective during Financial Year 2021-22.
year, the Company faced with issues around container Accordingly, pursuant to Sections 134(5) of the Act, the
availability and disproportionate increases in Ocean Board of Directors, to the best of its knowledge and ability,
freight. However, the Company undertook measures confirm that:
to mitigate the impact though not fully.
i. in the preparation of the annual accounts for the
The TCVCL unit has continuously focussed on new Financial Year ended March 31, 2022, the applicable
product development leveraging its unique pilot plant accounting standards have been followed and there
and co-created products with customers. The product are no material departures;
customization has enabled quick customer acquisition
and improved the market standing of the company. ii. they have selected such accounting policies and
New markets in South East Asia and Europe have been applied them consistently and made judgments and
accessed. estimates that are reasonable and prudent so as to
give a true and fair view of the state of affairs of the
The Unit continues to set benchmarks on Safety with
Company at the end of the Financial Year and of the
zero Safety accidents reported during the year and
profit of the Company for that period;
setting high level of standards in Food safety matters.
To sustain the occupational safety, the unit is in the iii. they have taken proper and sufficient care for the
process of obtaining ISO 14001 and 45000 certifications. maintenance of adequate accounting records
The unit is taking lead in water management, thereby in accordance with the provisions of the Act for
reducing the consumption levels by 17% from baseline safeguarding the assets of the Company and for
levels. The Unit is certified for LEED (Leadership in preventing and detecting fraud and other irregularities;
Energy and Environmental Design), BRC (British Retail
iv. they have prepared the Annual Accounts for the
Consortium), Halal, Kosher, UTZ and RFA.
Financial Year ended March 31, 2022 on a going
Performance of Subsidiaries concern basis;
Pursuant to the provisions of Section 129(3) of the v. they have laid down internal financial controls to be
Companies Act, 2013 (‘the Act’), a statement containing followed by the Company and such Internal Financial
the salient features of Financial Statements of the Controls are adequate and operating effectively;
Company’s subsidiaries in Form AOC - 1 is annexed as
Annexure – A. vi. they have devised proper systems to ensure compliance
with the provisions of all applicable laws and that such
Further, pursuant to the provisions of Section 136 of systems are adequate and operating effectively.
the Act, the standalone and consolidated financial
statements of the Company and of its subsidiaries, 16. Directors and Key Managerial Personnel
are available on the Website of the Company at Directors
https://tatacoffee.com/investors/overview.
The Board of Directors at its meeting held on March 22, 2022,
The Company does not have any Associate or Joint subject to the approval of the Shareholders, re-appointed
Venture Companies. Further, the Company’s policy on Mr. Chacko Purackal Thomas, as Managing Director &
determining the material subsidiaries, as approved by CEO of the Company, not liable to retire by rotation, for a
the Board is uploaded on the Company’s website at further term of three (3) years with effect from April 1, 2022.

The terms of remuneration in relation to the said All the Independent Directors of the Company have given
re-appointment was recommended by the Nomination & their declarations to the Company under Section 149(7)
Remuneration Committee and approved by the Board on of the Act that they meet the criteria of independence
April 26, 2022. A resolution in this behalf is set out at Item as provided under Section 149(6) of the Act read with
no. 8 of the Notice of Annual General Meeting, for Members’ Regulation 16(1)(b) of Securities and Exchange Board of
approval. India (Listing Obligations and Disclosure Requirements)
Regulations 2015 (‘the Listing Regulations’). There has been
Further, the Board of Directors at the said meeting,
no change in the circumstances affecting their status as
subject to the approval of the Shareholders, re-appointed
Independent Directors of the Company.
Mr. K. Venkataramanan, as Executive Director – Finance & CFO
of the Company, not liable to retire by rotation, for a further During the year under review, the Company did not have
period of one (1) year with effect from October 25, 2022. The any pecuniary relationship or transactions with any of its
terms of remuneration in relation to the said re-appointment Directors, other than payment of remuneration / Incentive
was recommended by the Nomination and Remuneration to the Executive Directors and payment of sitting fees,
Committee and approved by the Board on April 26, 2022. commission to Non-executive Directors and reimbursement
A resolution in this behalf is set out at Item no. 9 of the Notice of expenses incurred by them for the purpose of attending
of Annual General Meeting, for Members’ approval. meetings of the Board / Committees of the Company.
In accordance with the provisions of Section 152 of the Key Managerial Personnel (KMP)
Act and the Articles of Association, Mr. Sunil A. D’Souza, In terms of Section 203 of the Act, the following are the Key
Non-Executive Director of the Company retires by rotation at Managerial Personnel of the Company:
the ensuing Annual General Meeting and being eligible, has
offered himself for re-appointment. The Board recommends  Mr. Chacko Purackal Thomas, Managing Director & CEO
his re-appointment.  Mr. K. Venkataramanan, Executive Director – Finance &
Independent Directors CFO
During the year under review, Mr. V Leeladhar retired as  Mr. N. Anantha Murthy, Head – Legal & Company
Independent Director effective December 6, 2021, after Secretary
completing his term of appointment. The Board places on Board and Committee Meetings
record its appreciation for the contributions and guidance
made by Mr. Leeladhar, during his stint with the Company as An Annual Calendar of Board and Committee Meetings
a Director. planned during the year was circulated in advance
to the Directors. The Board has constituted an Audit
The Board of Directors at the meeting held on July 28, 2021, Committee comprising of Mr. S Venkatraman as Chairman
based on the recommendation of the Nomination and and Ms. Sunalini Menon, Mr. Siraj Azmat Chaudhry and
Remuneration Committee, appointed Mr. S Venkatraman Dr. P. G. Chengappa as its Members. There have been no
as an Additional Director (Non-Executive Independent) of instances during the year where recommendations of the
the Company with effect from the said date. Pursuant to the Audit Committee were not accepted by the Board.
provisions of Section 161 of the Act, Mr. Venkatraman holds
office till the date of ensuing Annual General Meeting and The details of the composition of the Board and its Committees
is eligible for appointment. A resolution for his appointment and the number of meetings held and attendance of Directors
as an Independent Director of the Company for a term of at such meetings are provided in the Corporate Governance
5 years effective from July 28, 2021 to July 27, 2026 is set out Report, which forms part of the Annual Report.
at Item No. 7 of the Notice of Annual General Meeting for The Directors have devised proper systems and processes for
approval by the Members by way of a Special Resolution. complying with the requirements of applicable Secretarial
Standards issued by the Institute of Company Secretaries of
Based on the recommendations of the Nomination and
India and that such systems were adequate and operating
Remuneration Committee, the Board of Directors, at
effectively.
its meeting held on March 22, 2022, have re-appointed
Dr. P G Chengappa as an Independent Director of the 17. Policy on Director’s Appointment and Remuneration and
Company for a second term of office, for a period of 3 years, other details
with effect from May 18, 2022 to May 17, 2025, which is
(a) Procedure for Nomination and Appointment of
subject to the approval of the Members by way of a Special
Directors
Resolution. A resolution in this behalf is set out at Item No.
6 of the Notice of Annual General Meeting, for Members’ The Nomination and Remuneration Committee
approval. (NRC) has been mandated to oversee and develop

competency requirements for the Board based on the Evaluation of its own performance, performance of the
industry requirements and business strategy of the Directors and the working of its Committees, based on the
Company. The NRC reviews and evaluates the profiles evaluation criteria defined by Nomination and Remuneration
of potential candidates for appointment of Directors Committee (NRC) for performance evaluation process of the
and meets them prior to making recommendations of Board, its Committees and Directors.
their nomination to the Board. Specific requirements
The performance of the Board was evaluated by the Board
for the position, including expert knowledge expected,
after seeking inputs from all the directors on the basis
are communicated to the appointee.
of criteria such as the Board composition and structure,
On the recommendation of the NRC, the Board has effectiveness of board processes, information and
adopted and framed a Remuneration Policy for functioning, etc.
the Directors, Key Managerial Personnel and other
The performance of the Committees was evaluated by the
employees pursuant to the applicable provisions of
Board after seeking inputs from the Committee members on
the Act and SEBI (Listing Obligations and Disclosure
the basis of criteria such as the composition of committees,
Requirements) Regulations, 2015 (‘the Listing
effectiveness of Committee meetings, etc.
Regulations). The remuneration determined for
Executive / Independent Directors is subject to the The performance assessment of Non-Independent Directors,
recommendation of the NRC and approval of the Board as a whole and the Chairman were evaluated at
Board of Directors. The Non-Executive Directors are separate meetings of Independent Directors. The same
compensated by way of profit-sharing commission and was also discussed in the meetings of NRC and the Board.
the criteria being their attendance and contribution Performance evaluation of Independent Directors was done
at the Board / Committee Meetings. The Executive by the entire Board, excluding the Independent Director
Directors are not paid sitting fees; however, the being evaluated.
Non-Executive Directors are entitled to sitting fees for
19. Internal Control Systems & their adequacy
attending the Board / Committee Meetings.
The Board has adopted policies and procedures for ensuring
It is affirmed that the remuneration paid to Directors,
the orderly and efficient conduct of its business, including
Key Managerial Personnel and all other employees
adherence to the Company’s policies, the safeguarding of its
are in accordance with the Remuneration Policy of
assets, the prevention and detection of frauds and errors, the
the Company. The Company’s Policy on Directors’
accuracy and completeness of the accounting records, and
Appointment and Remuneration and other matters
the timely preparation of reliable financial disclosures.
provided in Section 178(3) of the Act and Regulation 19
of the Listing Regulations have been disclosed in the 20. Reporting of Frauds
Corporate Governance Report, which forms part of the
There was no instance of fraud during the year under review,
Annual Report.
which required the Statutory Auditors to report to the Audit
(b) Familiarization / Orientation program for Committee and / or to the Board as required under Section
Independent Directors 143(12) of the Act and the rules made thereunder.
The Independent Directors attend a Familiarization / 21. Transfer to Investor Education and Protection Fund
Orientation Program on being inducted into the Board. (IEPF)
Further, various other programmes are conducted
a) Transfer of unclaimed dividend to IEPF
for the benefit of Independent Directors to provide
periodical updates on regulatory front, industry As required under Section 124 of the Act, the Unclaimed
developments and any other significant matters of Dividend amount aggregating to ₹33,08,344 lying
importance. The details of Familiarization Program with the Company for a period of seven years were
are provided in the Corporate Governance Report transferred during the Financial Year 2021-22, to
and is also available on the Company’s Website. the Investor Education and Protection Fund (IEPF)
The Company issues a formal letter of appointment established by the Central Government.
to the Independent Directors, outlining their role,
b) Transfer of shares to IEPF
function, duties and responsibilities, the format
of which is available on the Company’s Website at As required under Section 124 of the Act, 93,635 equity
www.tatacoffee.com. shares, in respect of which dividend has not been
claimed by the members for seven consecutive years
18. Board Evaluation
or more, have been transferred by the Company to
Pursuant to the applicable provisions of the Act and the the Investor Education and Protection Fund Authority
Listing Regulations, the Board has carried out an Annual (IEPF) during the Financial Year 2021-22. Details of

shares transferred to IEPF have been uploaded on the the appointment of M/s. Deloitte Haskins & Sells
Website of IEPF as well as the Company. LLP, Chartered Accountants (Firm Registration No.
117366W/W-100018), as the statutory auditors of the
22. Related Party Transactions
Company for a period of five years commencing from
All Related Party Transactions, that were entered into during the conclusion of the 78th AGM held on June 14, 2021
the Financial Year under review, were on an arm’s length until the conclusion of 83rd AGM of the Company to be
basis, and in the ordinary course of business and are in held in the year 2026.
compliance with the applicable provisions of the Act and
Ratification of appointment of Statutory Auditors at
the Listing Regulations. There were no materially significant
every AGM has been dispensed with by the Ministry of
Related Party Transactions made by the Company during the
Corporate Affairs. Accordingly, the Notice convening
year that required shareholders’ approval under Regulation the ensuing AGM does not carry any resolution on
23 of the Listing Regulations. ratification of appointment of Statutory Auditors.
All Related Party Transactions are placed before the Audit (ii) Cost Auditors
Committee for prior approval. Prior omnibus approval of the
Audit Committee is obtained for the transactions which are In terms of the provisions of Section 148 of the Act read
repetitive in nature or when the need for these transactions with the Companies (Cost Records and Audit) Rules,
cannot be foreseen in advance. 2014, as amended from time to time, the Board of
Directors, based on the recommendation of the Audit
None of the transactions entered into with Related Parties Committee, has appointed M/s. S.Mahadevan & Co,
fall under the scope of Section 188(1) of the Act. Details of (Firm Registration No. 000007) Cost Accountants, as
transactions with Related Parties as required under Section Cost Auditor of the Company for conducting the Cost
134(3)(h) of the Act read with Rule 8(2) of the Companies Audit for the Financial Year 2022-23, on a remuneration
(Accounts) Rules, 2014 are given in Annexure - B in Form as mentioned in the Notice of 79th Annual General
AOC - 2 and forms part of this Report. Meeting.
The Company has adopted a Policy for dealing with Related A Certificate from M/s. S.Mahadevan & Co., Cost
Party Transactions. The Policy as approved by the Board Accountants, has been received to the effect that their
is available at the web link: https://tatacoffee.com/sites/ appointment as Cost Auditor of the Company, if made,
default/files/collaterals/investors/related-party-transaction- would be in accordance with the limits specified under
policy-april2022.pdf. Section 141 of the Act and Rules framed thereunder.
23. Corporate Governance and Management Discussion & A resolution seeking Member’s ratification for the
Analysis Report remuneration payable to the Cost Auditor forms part
Your Company is in compliance with all the applicable provisions of the Notice of 79th Annual General Meeting and the
of Corporate Governance as stipulated under Chapter IV of same is recommended for your consideration and
the Listing Regulations. A report on Corporate Governance as ratification.
required under the Listing Regulations is provided in a separate (iii) Secretarial Auditors
section and forms part of the Annual Report. A Certificate from
a Practicing Company Secretary regarding compliance with the Pursuant to the provisions of Section 204 of the Act
conditions stipulated in the Listing Regulations forms part of and the rules made there under, the Company had
the Corporate Governance Report. appointed M/s. BMP & Co. LLP, Company Secretaries,
to undertake the Secretarial Audit of the Company
Pursuant to Regulation 34 of the Listing Regulations, the for the year ended March 31, 2022. The Secretarial
Management Discussion and Analysis is presented in a Audit Report issued in this regard is annexed as
separate section forming part of this Annual Report. Annexure - C.
24. Business Responsibility Report The Auditors’ Report and the Secretarial Audit Report
for the Financial Year ended March 31, 2022, do not
As required under Regulation 34 of the Listing Regulations,
contain any qualification or reservation or adverse
the Business Responsibility Report is provided in a separate
remarks.
section and forms part of the Annual Report.
26. Risk Management
25. Auditors
The Company has constituted a Risk Management
(i) Statutory Auditors
Committee which has been entrusted with the responsibility
The Members of the Company at their Annual to assist the Board in (a) approving the Company’s Risk
General Meeting held on June 14, 2021, approved Management Framework and (b) overseeing all the risks

that the organization faces such as strategic, financial,  Medical assistance for the COVID positive cases and
liquidity, security, regulatory, legal, reputational and other support to the family members by providing essential
risks that have been identified and assessed to ensure that needs.
there is a sound Risk Management Policy in place to address
 Facilitation of disinfectant spraying of labour lines,
such concerns / risks. The Risk Management process covers
hospitals etc.
risk identification, assessment, analysis and mitigation.
Incorporating sustainability in the process also helps to align  Facilitation of COVID 19 preventive management as per
potential exposures with the risk appetite and highlight risks the Government guidelines.
associated with chosen strategies.
 Skill development identification and recognition of
The Audit Committee has additional oversight in the area identified skilled workers with the certificates.
of financial risks and controls. Major risks identified by the
 UNF health project was initiated for women workers to
business and functions are systematically addressed through
diagnose cervical cancer and anaemia.
mitigating actions on a continuing basis.
 Blood donation camp conducted for the employees.
The Company has adopted a Risk Management Policy in
accordance with the provisions of the Act and Regulation 21  Awareness programme on Tata Code of Conduct
of the Listing Regulations. (TCoC) Prevention of Sexual Harassment (POSH) was
conducted by HR team in all the estates.
27. Particulars of Loans, Guarantees and Investments
 On a trial basis, Green Oxyguard waste incinerator was
The details of Loans, Investments and Guarantees covered
installed in one of the estates as a part of the waste
under the provisions of Section 186 of the Act are given in management initiative.
the Notes to the Financial Statements forming part of Annual
Report. 30. Policy on Prevention, Prohibition and Redressal of Sexual
Harassment at Workplace
28. Fixed Deposits
The Company has zero tolerance for sexual harassment
During the year under review, your Company has neither at workplace and has adopted a Policy on Prevention,
accepted nor renewed any deposits from the public within Prohibition and Redressal of Sexual Harassment at workplace
the meaning of Section 73 of the Act and the Companies in line with the provisions of the Sexual Harassment of
(Acceptance of Deposits) Rules, 2014. Women at Workplace (Prevention, Prohibition and Redressal)
29. Employees Welfare Act, 2013 (POSH) and the rules made thereunder. The Policy
aims to provide protection to employees at workplace
The Company continues to focus on welfare and improving and prevent and redress complaints of sexual harassment
the quality of lives of its employees by providing educational and for matters connected or incidental thereto, with the
assistance to their children, employee wellness sessions, objective of providing a safe working environment, where
periodic occupational health checks, merit scholarships to employees feel secure. The Company has reconstitued
employee children, spiritual peace by yoga classes, crèche the Internal Complaints Committee and emphasised on
and child care facilities, transport at subsidised rate to school the roles and responsibilities expected from the members.
going children, supply of provisions at cost and other home Training programmes were conducted around locations to
appliances on instalment basis through co-operative stores strengthen the awareness among the Committee members.
and providing housing loan interest subsidy & interest free
The Company continuously invests in enhancing the
loans for the employee family wellness.
awareness on the Policy across its workforce.
Apart from the welfare initiatives implemented during
The Company also conducts a periodic (bi-annual) awareness
last year, the following were the focus areas in the welfare
plan across the organization on Ethics, Tata Code of Conduct,
initiatives during financial year 2021-22:
POSH & Whistle Blower policy involving workmen as
 Long service award for all the employees with 25 years facilitators.
of service.
During the financial year 2021-22, the Company received
 Vaccination for all the employees. 5 complaints on sexual harassment and all the cases have
been disposed of with appropriate actions.
 Supply of sanitizers, face masks, face shield masks,
gloves to all employees who are dealing closely with 31. Whistle Blower Policy / Vigil Mechanism
workers.
The Company has adopted a Whistle Blower Policy to
 Isolation centres for the COVID positive cases were provide a formal mechanism to the Directors’ and employees
identified in all locations. to report their concerns about unethical behaviour, actual

or suspected fraud or violation of the Company’s Code of 35. Particulars of Conservation of Energy, Technology
Conduct or Ethics Policy. The Policy provides for adequate Absorption and Foreign Exchange Earnings and Outgo
safeguards against victimization of employees, who avail of
The information on Conservation of Energy, Technology
the mechanism and provides to employees’ direct access to
the Chairman of the Audit Committee. It is affirmed that no Absorption and Foreign Exchange Earnings and Outgo
personnel of the Company have been denied access to the stipulated under Section 134(3)(m) of the Act read with Rule
Audit Committee. The Whistle Blower Policy has been posted 8(3) of the Companies (Accounts) Rules 2014 is annexed as
on the Website of the Company at https://tatacoffee.com/ Annexure - F and forms part of this Report.
sites/default/files/collaterals/investors/Whistle_Blower_ 36. Significant and Material Orders passed by the Regulators
Policy_24032022.pdf. or Courts
32. Corporate Social Responsibility (CSR) There are no significant or material orders which were passed
The Company has a Policy on Corporate Social Responsibility by the Regulators or Courts or Tribunals which impact the
and the same has been posted on the website of the going concern status and the Company’s Operations in
Company at https://tatacoffee.com/sites/default/files/ future.
collaterals/investors/csr-policy-and-actionplans-fy2022-23. 37. Green Initiatives
pdf. The Annual Report on CSR activities in terms of the
requirements of Companies (Corporate Social Responsibility In commitment to keep in line with the Green Initiatives
Policy) Rules, 2014 is annexed as Annexure - D, which forms and going beyond it, electronic copy of the Notice of
part of this Report. 79th Annual General Meeting of the Company including the
Annual Report for FY 2021-22 are being sent to all Members
33. Extract of Annual Return whose e-mail addresses are registered with the Company /
As per the requirements of Section 92(3) of the Act and Rules Depository Participant(s).
framed thereunder, the extract of the Annual Return for 38. Appreciation
FY 2021-22 is uploaded on the website of the Company and
the same is available at https://tatacoffee.com/sites/default/ Your Directors take this opportunity to thank the Parent
files/collaterals/investors/mgt/Annual-Return-FY-2021-22. Company – Tata Consumer Products Limited, the employees,
pdf. customers, vendors, investors of the Company and the
communities in which the Company operates, for their
34. Particulars of Employees and Remuneration unstinted co-operation and valuable support extended
In terms of the first proviso to Section 136 of the Act, during the year.
the Reports and Accounts are being sent to the Your Directors also thank the Government of India,
shareholders excluding the information required under Government of various States in India and government
Rule 5(2) and (3) of the Companies (Appointment and departments / agencies concerned for their co-operation.
Remuneration of Managerial Personnel) Rules, 2014. Any
shareholder interested in obtaining the same may write Your Directors appreciate and value the contributions made
to the Company Secretary at the Registered Office of the by each and every member of the Tata Coffee family.
Company.
The statement containing information as required under For and on behalf of the Board
the provisions of Section 197(12) of the Act read with
Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 is Place: Bengaluru R. Harish Bhat
given in Annexure - E and forms part of this Report. Date: April 26, 2022 Chairman

Annexure - A
Form No. AOC – 1

(Pursuant to clause (h) of sub-section (3) of section 134 of the Companies Act, 2013 and Rule 8(2)
of the Companies (Accounts) Rules, 2014)
Statement containing salient features of the Financial Statement of Subsidiaries / Associate Companies / Joint Ventures
PART “A”: SUBSIDIARIES
(₹ in crore)
1 Name of the Subsidiary Consolidated Eight O’clock Eight O’clock Tata Coffee Vietnam
Coffee Inc. Holdings Inc. Coffee Company Company Limited
2 Date since when subsidiary was acquired / formed July 10, 2006 July 10, 2006 July 10, 2006 March 28, 2017
3 Reporting Currency and Exchange Rate as on the US Dollar / ₹75.79 US Dollar / ₹75.79 US Dollar / ₹75.79 US Dollar / ₹75.79
last date of the relevant Financial Year in case of
Foreign Subsidiaries
4 Average yearly rate for P&L items translation US Dollar / ₹74.15 US Dollar / ₹74.15 US Dollar / ₹74.15 US Dollar / ₹74.15
5 Share Capital 453.97 453.97 453.97 116.71
6 Reserves & Surplus 1.16 (0.54) 561.60 (21.42)
7 Total Assets 456.38 454.29 1982.73 537.99
8 Total Liabilities 1.25 0.86 967.16 442.69
9 Investments 453.97 453.97 - -
10 Turnover - - 1294.07 258.12
11 Profit before Taxation 88.98 88.98 229.21 6.50
12 Provision for Taxation - - 57.85 -
13 Profit after Taxation 88.98 88.98 171.36 6.50
14 Proposed Dividend - - - -
15 Percentage (%) of Shareholding 50.08 100.00
Notes:
1. Reporting period of the Subsidiaries is the same as that of the Company.
2. Balance Sheet items have been translated at the exchange rate as on the last day of relevant financial year.
3. The numbers reported above are based on individual financial statements prepared under International Financial Reporting
Standards/local GAAP.
4. Part B of the Annexure is not applicable as there are no Associate Companies / Joint ventures of the Company as on March 31, 2022.
5. Eight O’ Clock Holdings Inc. and Eight O’ Clock Coffee Company are subsidiaries of Consolidated Coffee Inc.
For and on behalf of the Board
Place: Bengaluru R. Harish Bhat

Date: April 26, 2022 Chairman

Annexure – B
Form No. AOC - 2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Companies Act, 2013 and Rule 8(2)
of the Companies (Accounts) Rules, 2014
Form for disclosure of particulars of contracts / arrangements entered into by the Company with related parties referred to in
sub-section (1) of section 188 of the Companies Act, 2013 including certain arm’s length transactions under third proviso thereto:
1. Details of contracts or arrangements or transactions not at arm’s length basis:
Tata Coffee Limited (the “Company”) has not entered into any contract / arrangement / transaction with its related parties which
are not in ordinary course of business or at arm’s length during the financial year 2021-22. The Company has laid down policies and
processes/procedures so as to ensure compliance to the subject section in the Companies Act, 2013 and the corresponding Rules.
In addition, the process goes through internal and external checking, followed by quarterly reporting to the Audit Committee.
(a) Name(s) of the related party and nature of relationship: Not Applicable
(b) Nature of contracts / arrangements / transactions: Not Applicable
(c) Duration of the contracts / arrangements / transactions: Not Applicable
(d) Salient terms of the contracts or arrangements or transactions including the value, if any: Not Applicable
(e) Justification for entering into such contracts or arrangements or transactions: Not Applicable
(f ) Date(s) of approval by the Board: Not Applicable
(g) Amount paid as advances, if any: Not Applicable
(h) Date on which the special resolution was passed in general meeting as required under first proviso to Section 188: Not
Applicable
2. Details of material contracts or arrangement or transactions at arm’s length basis:
(a) Name(s) of the related party and nature of relationship: Not Applicable
(b) Nature of contracts / arrangements / transactions: Not Applicable
(c) Duration of the contracts / arrangements / transactions: Not Applicable
(d) Salient terms of the contracts or arrangements or transactions including the value, if any: Not Applicable
(e) Date(s) of approval by the Board, if any: Not Applicable
(f ) Amount paid as advances, if any: Not Applicable
For and on behalf of the Board
Place: Bengaluru R. Harish Bhat

Date: April 26, 2022 Chairman

Annexure - C
FORM No. MR-3 and Regulations made thereunder to the extent of Foreign
Direct Investment, Overseas Direct Investment and External
Secretarial Audit Report
Commercial Borrowings;
for the year ended March 31, 2022
v. The following Regulations and Guidelines prescribed under
(Pursuant to Section 204(1) of the Companies Act, 2013 and Rule
the Securities and Exchange Board of India Act, 1992 (‘SEBI
No. 9 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014) Act’):
a. The Securities and Exchange Board of India (Substantial
To,
Acquisition of Shares and Takeovers) Regulations, 2011;
The Members,
b. The Securities and Exchange Board of India (Prohibition
Tata Coffee Limited
of Insider Trading) Regulations, 2015;
CIN: L01131KA1943PLC000833
c. The Securities and Exchange Board of India (Issue of
Pollibetta, Kodagu 571215
Capital and Disclosures Requirements) Regulations,
We have conducted the Secretarial Audit of the compliance 2018; – Not Applicable as the Company did not issue
of applicable statutory provisions and the adherence to good any security during the Financial Year under review.
corporate practices by Tata Coffee Limited (hereinafter called the
“Company”). The Secretarial Audit was conducted in a manner d. The Securities and Exchange Board of India (Share
that provided us a reasonable basis for evaluating the corporate Based Employee Benefits) Regulations, 2014; - Not
conducts/statutory compliances and expressing our opinion Applicable as the Company does not have Employee
thereon. Stock Option Scheme for its employees;
Based on our verification of the Company’s books, papers, minute e. The Securities and Exchange Board of India (Issue and
books, forms and returns filed and other records maintained Listing of Debt Securities) Regulations, 2008; – Not
by the Company and also the information provided by the applicable as the Company has not issued any debt
Company, its officers, agents and authorized representatives securities during the Financial Year under review;
during the conduct of Secretarial Audit, we hereby report that in f. The Securities and Exchange Board of India (Registrars
our opinion, the Company has, during the audit period covering to an Issue and Share Transfer Agents) Regulations,
the Financial Year ended on March 31, 2022 complied with the 1993 regarding the Companies Act and dealing with
statutory provisions listed hereunder and also that the Company client; - Not applicable as the Company is not registered
has proper Board-processes and compliance-mechanism in place as Registrar to an Issue and Share Transfer Agent during
to the extent, in the manner and subject to the reporting made the Financial Year under review;
hereinafter:
g. The Securities and Exchange Board of India (Delisting
We have examined the books, papers, minute books, forms and of Equity Shares) Regulations, 2009; – Not applicable
returns filed and other records maintained by the Company for
as the Company has not delisted its equity shares from
the Financial Year ended on March 31, 2022 according to the
any stock exchange during the Financial Year under
provisions of:
review; and
i. The Companies Act, 2013 (‘the Act’) and the Rules made
h. The Securities and Exchange Board of India (Buyback
thereunder;
of Securities) Regulations, 2018; - Not Applicable as the
ii. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and Company has not done any buyback of its securities
the Rules made thereunder; during the Financial Year under review.
iii. The Depositories Act, 1996 and the Regulations and Byelaws vi. The following key / significant laws as specifically applicable
framed thereunder; to the Company: -
iv. Foreign Exchange Management Act, 1999 and the Rules 1) The Plantation Labour Act, 1951

2) The Coffee Act, 1942 and the Rules made thereunder 27) Information Technology Act, 2000
3) The Tea Act, 1953 and the Rules made thereunder 28) The Industrial Dispute Act, 1947
4) The Factories Act, 1948 29) The Sexual Harassment of Women at Workplace
5) The Legal Metrology Act, 2009 and the Rules made (Prevention, Prohibition and Redressal) Act, 2013
thereunder
30) Tamil Nadu Industrial Establishments (National &
6) The Employment Exchange (Compulsory Notification Festival Holidays) Act, 1958 read with The Tamil Nadu
of Vacancies) Act, 1959 Industrial Establishments (National & Festival Holidays)
7) The Water (Prevention and Control of Pollution) Act, Rules, 1959
1974 31) Tamil Nadu Labour Welfare Fund Act, 1972 read with
8) The Air (Prevention and Control of Pollution) Act, 1981 Tamil Nadu Labour Welfare Fund Rules, 1973
9) The Environment (Protection) Act, 1986 We have also examined compliance with the applicable clauses/
regulations of the following:
10) The Hazardous and Other Wastes (Management and
Transboundary Movement) Rules, 2016 (i) Secretarial Standards issued by The Institute of Company
Secretaries of India (ICSI)
11) Food Safety & Standards Act, 2006, and Food Safety &
Standards Rules, 2011 (ii) The Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015
12) The Spices Board Act, 1986 and the Rules, Regulations and the Listing Agreements entered into by the Company
made thereunder with BSE Limited and National Stock Exchange of India
13) The Indian Forest Act, 1927 Limited
14) The Indian Wildlife Protection Act, 1972 During the period under review, the Company has complied
with the provisions of the Act, Rules, Regulations, Guidelines,
15) The Electricity Act, 2003 Standards, etc. mentioned above.
16) The Contract Labour (Regulation and Abolition) Act, We further report that: -
1970 & its Central Rules/ concerned State Rules
The Board of Directors of the Company is duly constituted with
17) The Employees’ Provident Fund and Miscellaneous proper balance of Executive Directors, Non-Executive Directors
Provisions Act, 1952 & EPF, FPF Schemes and Independent Directors. The changes in the composition of the
18) The Employees’ State Insurance Act, 1948 & its Central Board of Directors that took place during the period under review
Rules / concerned State Rules were carried out in compliance with the provisions of the Act.
19) The Minimum Wages Act, 1948 & its Central Rules/ Adequate notice is given to all Directors to schedule the Board
concerned State Rules/ Notification of Minimum Wages Meetings, agenda and detailed notes on agenda were sent at
applicable to various class of industries/ Trade least seven days in advance, and a system exists for seeking and
obtaining further information and clarifications on the agenda
20) The Payment of Wages Act, 1936 & its Central Rules/ items before the meeting and for meaningful participation at the
concerned State Rules if any meeting.
21) The Payment of Bonus Act, 1965 & its Central Rules/ Majority decision is carried through while the dissenting members’
concerned State Rules if any views, if any, are captured and recorded as part of the minutes.
22) The Payment of Gratuity Act & its Central Rules/ We further report that based on review of compliance mechanism
concerned State Rules if any established by the Company and on the basis of the Compliance
Certificate(s) issued by the Managing Director & CEO, Executive
23) The Maternity Benefit Act, 1961 & its Rules
Director – Finance & CFO and the Company Secretary and taken
24) The Equal Remuneration Act, 1976 on record by the Board of Directors at their meeting(s), we are
of the opinion that the management has adequate systems and
25) The Employee’s Compensation Act, 1923
processes commensurate with its size and operations, to monitor
26) The Karnataka Shops & Establishments Act, 1961 and and ensure compliance with all applicable laws, rules, regulations
Rules made thereunder and guidelines.

As informed, the Company has responded to notices for demands, processes and practices, we followed provide a reasonable
claims, penalties etc. levied by various statutory / regulatory basis for our opinion.
authorities and initiated actions for corrective measures, wherever 3. We have not verified the correctness and appropriateness of
necessary. financial records and Books of Accounts of the Company.
We further report that during the audit period, there were no 4. Wherever required, we have obtained the Management
other specific events/actions in pursuance of the above referred representation about the compliance of laws, rules and
laws, rules, regulations, guidelines etc., having a major bearing on regulations and happening of events etc.
the Company’s affairs.
5. The compliance of the provisions of Corporate and
For BMP & Co. LLP, other applicable laws, rules, regulations, standards is the
Company Secretaries responsibility of management. Our examination was limited
to the verification of procedures on test basis.
6. The Secretarial Audit report is neither an assurance as to
Place: Bangalore Pramod S M Partner
the future viability of the Company nor of the efficacy or
Date: April 26, 2022 FCS No: 7834
UDIN: F007834D000212599 effectiveness with which the management has conducted
CP No: 13784
the affairs of the Company.
This report to be read with our letter of even date which is annexed as
7. We further report that, based on the information provided
Annexure A and forms an integral part of this report.
by the Company, its officers, and authorised representatives
during the conduct of the audit and also on the review
Annexure A of quarterly compliance report issued by the respective
departmental heads/Company Secretary/Managing Director
To, & CEO, taken on record by the Board of the Company, in
The Members, our opinion adequate systems and process and control
Tata Coffee Limited mechanism exist in the Company to monitor compliance
with applicable general laws like labour laws & Environment
CIN: L01131KA1943PLC000833
laws and Data protection policy.
Pollibetta, Kodagu 571215
8. We further report that the Compliance by the Company of
applicable financial laws like Direct & Indirect tax laws has
Our report of even date is to be read along with this letter. not been reviewed in this audit since the same has been
subject to review by the statutory financial audit and other
1. Maintenance of Secretarial record is the responsibility of designated professionals.
the management of the Company. Our responsibility is to
express an opinion on these secretarial records based on our For BMP & Co. LLP,
audit. Company Secretaries
2. We have followed the audit practices and process as were
appropriate to obtain reasonable assurance about the
correctness of the contents of the Secretarial records. The Place: Bangalore Pramod S M Partner
verification was done on test basis to ensure that correct Date: April 26, 2022 FCS No: 7834
facts are reflected in secretarial records. We believe that the UDIN: F007834D000212599 CP No: 13784

Annexure – D
ANNUAL REPORT ON CSR ACTIVITIES OF THE COMPANY

1. A brief outline on Corporate Social Responsibility (CSR) Policy of the Company:
The focus areas of the CSR Policy of the Company are as follows:
a. Reduction of carbon and water footprint through inclusive and sustainable business practices.
b. Renewable Energy, Water Conservation & Waste Management to support Environmental Sustainability.
c. Ensuring protection and restoration of wildlife within the scope of operations.
d. Undertaking programs focused on Education and Skill Development, Healthcare & Gender Equality.
e. Actively participating in programs for Volunteering and Affirmative Actions.
2. Composition of CSR Committee:
No. of meetings No. of meetings

Name of the Member Category of Directors
attended held^
Ms. Sunalini Menon Chairperson Non-Executive, Independent 2 2
Mr. V Leeladhar* Non-Executive, Independent 1 1
Mr. Siraj Azmat Chaudhry Non-Executive, Independent 1 1
(upto December 6, 2021)
Dr. P. G. Chengappa Non-Executive, Independent 2 2
Mr. Chacko Purackal Thomas Managing Director & CEO 2 2
* Ceased to be a member consequent upon his retirement from the Board of the Company w.e.f. December 6, 2021
^ Number of meetings held during the tenure of respective member in the Committee.
3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR https://tatacoffee.com/sites/default/
projects approved by the Board are disclosed on the website of the company: files/collaterals/investors/csr-policy-and-
actionplans-fy2022-23.pdf
4. Provide the details of Impact assessment of CSR projects carried out in Not applicable
pursuance of sub-rule (3) of rule 8 of the Companies (Corporate Social
responsibility Policy) Rules, 2014, if applicable:
5. Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social responsibility
Policy) Rules, 2014 and amount required for set off for the Financial Year, if any:
Sl. Financial Year Amount available for set-off from Amount required to be for set-off
No. preceding financial years (in ₹) for the Financial Year, if any (in ₹)
1 2017-18 Nil Nil
2 2018-19 Nil Nil
3 2019-20 Nil Nil
Total Nil Nil
6. Average Net Profit of the Company as per Section 135(5) of the Act: ₹42.84 crore
7. a. Two percent of average net profit of the Company as per Section 135(5) of the Act for the financial year 2021-22: ₹0.86 crore
b. Surplus arising out of the CSR projects or programmes or activities of the previous financial years: Nil
c. Amount required to be set off for the financial year, if any: Nil
d. Total CSR obligation for the financial year (a+b-c): ₹0.86 crore

8.a. CSR Amount spent or unspent for the Financial Year (in ₹)
Total Amount Unspent
Amount Total Amount transferred to Unspent CSR Account as Amount transferred to any fund specified under Schedule
Spent per section 135(6) of the Act VII as per second proviso to Section 135(5) of the Act
Amount Date of Name of the Fund Amount
Transfer
₹1.75 crore Nil NA NA NA Nil
b. Details of CSR amount spent against ongoing projects for the Financial Year: Nil
c. Details of CSR amount spent against other than ongoing Refer Annexure – D1
projects for the Financial Year
d. Amount spent in Administrative Overheads: Nil
e. Total Amount spent on Impact Assessment, if applicable: Not applicable
f. Total amount spent for the Financial Year: ₹ 1.75 crore
g. Excess Amount for set off, if any

Sl. Particulars Amount ₹
No.
(i) Two percent of average net profit of the company as per section 135(5) ₹0.86 crore
(ii) Total amount spent for the Financial Year ₹1.75 crore
(iii) Excess amount spent for the Financial Year [(ii)-(i)] ₹0.89 crore
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any Nil
(v) Amount payable for set off in succeeding financial years [(iii)-(iv)] ₹0.89 crore
9. a. Details of Unspent CSR Amount for the preceding three financial years: Nil
b. Details of CSR amount spent in the Financial Year for ongoing projects of the preceding financial year(s) Nil
10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through Nil
CSR spent in the Financial Year:
Place: Bengaluru Chacko Purackal Thomas Sunalini Menon

Date: April 26, 2022 Managing Director & CEO Chairperson – CSR Committee

Annexure D1
Sl. Name of Projects Item from the list Locations / Districts Amount Spent Mode of Mode of Implementing through
No. of activities in (State) for the Project implementation implementing Agency
Schedule VII to (₹ Lakh) – Direct Yes / No Name CSR Registration
the Act
1 Promoting Health Coorg, KA* 99.66 Direct - -
Preventive Health
Care
2 Promoting Health Coorg, KA* 35.00 No Rural India Health CSR00005505
Preventive Health Project
Care
3 Providing Soft Skill Development Toopran, TEL * 5.96 No Institution CSR00016222
Skill of Resource
Development
and Social
Management
4 Promoting Education Theni, TN * 22.84 Direct - -
education Anamallais, TN *
by providing
contributions
5 Providing Career Employment Bangalore, KA* 1.00 No Kinship for CSR00001135
Counselling for enhancing Humanitarian
poor children of Social & Holistic
Govt School Intervention in
India
6 Promoting Sanitation and Coorg, KA* 6.02 Direct - -
sanitation and Water Theni, TN *
making available
safe drinking
water
7 Waste Environment Toopran, TEL * 2.00 No Institution CSR00016222
management to of Resource
environmental Development
sustainability and Social
Management
8 Others Infrastructure/ Bengaluru, KA* 2.24 Direct - -
Others
Total 174.72
* KA - Karnataka; TN - Tamil Nadu; TEL – Telangana

Annexure – E
PARTICULARS OF EMPLOYEES
Information relating to remuneration of Directors / Key Managerial Personnel as required under Section 197(12) of the Companies Act, 2013
read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
1. The ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the Financial Year
and the percentage increase in remuneration of each Director, Chief Executive Officer, Chief Financial Officer, Company Secretary,
or Manager, if any, in the Financial Year:
Non-Executive Directors Ratio to Median % increase / (decrease) in

Remuneration
Mr. R. Harish Bhat 1.01 33
Mr. Sunil A. D’Souza 0.72 21
Mr. V. Leeladhar^ 10.31 -
Mr. S. Venkatraman^ 10.86 -
Ms. Sunalini Menon 11.62 5
Mr. Siraj Azmat Chaudhry 13.57 5
Dr. P. G. Chengappa 11.94 4
Executive Directors & Key Managerial Personnel
Mr. Chacko Purackal Thomas 128.22 13
Mr. K. Venkataramanan 93.90 7
Mr. N. Anantha Murthy 27.59 16
^ Directorship / Employment is for part of the period, either in current year or in previous year. Hence, percentage increase in
remuneration is not provided.
2. The percentage increase in the median remuneration of employees in the Financial Year: 5%
3. The number of permanent employees on the rolls of Company: 6121
4. Average percentile increases already made in the salaries of employees other than the managerial personnel in the last
Financial Year and its comparison with the percentile increase in the managerial remuneration and justification thereof
and point out if there are any exceptional circumstances for increase in the managerial remuneration:
The percentage increase in the salaries of employees other than Managerial Personnel in Financial Year 2021-22 was 5%.
The increments given to employees are based on their potential, performance, and contribution, which are benchmarked against
applicable Industry norms.
5. Affirmation that the remuneration is as per the Remuneration Policy of the Company:
It is affirmed that the remuneration paid is as per the Remuneration Policy, applicable for Directors, Key Managerial Personnel and
other employees, adopted by the Company.

Annexure – F
Details on Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and outgo
(Pursuant to Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of The Companies (Accounts) Rules, 2014)
INSTANT COFFEE DIVISION [ICD] -THENI & TOOPRAN

A. CONSERVATION OF ENERGY
1. The steps taken or impact on conservation of energy
a) Specific fuel consumption has reduced by 10% at Toopran through focused interventions by Process improvement. Improved
boiler bed coils & refractory condition has enabled the use of excess boiler spent.
b) Wind energy utilization continued through Group Captive Power (GCP) concept being a major initiative, which caters 28.5%
of total energy requirement at ICD Theni over PY 16%
c) Specific power consumption has reduced 8.7% in Freeze Dried Coffee (FDC) Unit and 4.4% in Spray Dried Coffee (SDC) Unit,
Theni through focused interventions by Process improvement teams and Installation of Energy efficient motors and pumps
d) Specific fuel consumption has reduced by 7.4% in FDC Unit through multiple energy saving projects and use of condensate
recovery system
e) Fly ash generated from the boiler is being disposed in an eco-friendly manner for brick manufacturing.
f ) 13.5% Specific Water Consumption reduction at FDC Unit and 5% reduction in SDC Unit through water conservation initiatives
at Theni
g) The freshwater intake in ICD Toopran has reduced by 20% leveraging scale ban technology with ‘NIL’ discharge
2. The steps taken by the Company for utilizing alternate renewable sources of energy
a) Additional 60 Lakh unit of Wind power has been connected at ICD Theni to improve the renewable sourcing from 24% to 80%
of total power consumption.
b) Focus on Various Biofuel utilization as Boiler Fuel have been trialed during the year.
3. The capital investment on energy conservation equipment
a) ICD Toopran Unit of Instant Coffee Division invested of `105 Lakh towards energy efficient pumps and capacitor bank, VAM
chillers replacing electrical chillers and 200 kVA UPS for continuous operation of evaporators and spray drying equipment.
b) The Theni Unit of Instant Coffee Division invested `43 Lakh in projects on energy efficient pumps and motors. The energy
reduction initiative led to 3.6 Lakh units in FY 2021-22
c) The Theni Unit of Instant Coffee Division invested `20 Lakh in installation of Condensate Recovery System with saving
potential of 20 KL Water per day and additional Coal Saving, amounting to a saving potential of `14 Lakh
TECHNOLOGY ABSORPTION:
1. The Company has introduced the following technologies to conserve energy, water and improve process yields:
a) Energy Efficient Pumps to reduce high energy consumption in place of low efficiency pumps
b) 160TR VAM chiller replacing electrical chillers.
c) Capacitor bank in agglomeration plant at Toopran to increase the power factor and reduce the power wastages.
d) Condensate recovery systems in SDC Unit at Theni
2. Efforts made for Technology Absorption:
a) Automation of Evaporator and ARS systems with PLC to synchronize feed flow and steam flow.

b) Alternate Heat Energy System introduction in SDC to c. Monitoring the availability of micronutrients and
enable plant to operate in absence of steam energy for secondary nutrients to improve Coffee, Pepper,
short intervals Cardamom and fruit crop productivity and quality.
c) Conducted energy audit to analyse the energy d. Working on various Agro input trials in
consumption and action plan for reduction in collaboration with different organization and
consumption of energy is under progress institutes.
d) Energy audit of pumping system and replacement of e. Rationalization of fertilizer application for
low efficiency pumps the future. Experimenting on identification
of potential ‘fertilizer formulation’ for better
PLANTATIONS absorption of applied nutrients, and quality
enhancement.
1. Introduction – TCL- R&D was established in the year 1982
and is mainly providing technical support on all aspects B. Varietal Trial Experiment: Identified ‘Location specific’,
of Plantation including Combating Climate change, Post- high yielding, pest, disease, and drought tolerant plants
harvest processing in preserving the intrinsic quality of for planting in our estates. Initiated coffee vegetative
Plantation products and assisting the Estates in certifications clonal propagation & targeting 70000 plants for the
which is validating our Cultural operations on par with forthcoming year.
International Standards. Training and knowledge sharing, C. Bio- control Research & IPM Strategy: For reducing
both in-house and with customers is a routine activity. dependency over chemical inputs and promoting
Annual R&D Day – INVENTICA is held, where updates of R&D
sustainable Agriculture, R&D has adopted unique
research are discussed and new “Need of hour Projects” are
IPM strategy where Pheromone traps, Microbial and
undertaken to improve on “Standard Operating Procedure”,
Organic formulations are utilized to fulfil the estate
“better utilization of unit area profit through Crop
specific requirement. Some of the initiatives are
Diversification”. R&D department has been recognized
mentioned below.
by Department of Scientific and Industrial Technology,
Government of India. a. Culturing of beneficial fungus Trichoderma
for integrated disease management R&D
2. Mission of the Department – To develop, improve and pioneered and scaled up the culturing of pure
innovate technologies or solutions for sustainable production line Trichoderma fungus in different formulations
and productivity of Quality Coffee, Pepper and other allied as per estate requirements and introduced
products adopting green processes at economical cost.
Concentrated Vial formulation in deliverable form
3. R&D Faculty: Our R&D Team has expertise in the fields of for hassle free transport to far off estates. TCL-R&D
Analytical chemistry, Agricultural Entomology, Microbiology has developed economic solid formulation for the
& Pathology, Agronomy, Plant breeding, Apiculture, easy application of biocontrol agents.
Pisciculture, Value Addition, Diversification and Quality
b. Culturing of Beneficial strains viz.,
Evaluation.
Pseudomonas, Bacillus, Azotobacter for
4. R&D Highlights improving plant systemic resistance & for nutrient
solubilization, Paceilomyces and Pochonia for soil
A. Crop Nutrition Research:
Nematode control.
a. R&D Laboratory is well equipped to conduct Crop
c. Organic formulation – R&D is working on various
Nutrient Research. Microwave Plasma Atomic
organic solutions and has developed its own
Emission Spectrophotometer has been installed
organic formulation to mitigate pest and disease
in 2018-19 to carry out Micro-nutrient analysis.
challenges in coffee and allied crops based on the
R&D is conducting Soil Fertility Evaluation
concept of Vedic Agriculture and Vrukshayurveda.
through annual soil nutrient analysis and leaf
micronutrient diagnostic analysis and the results d. Coffee Berry Borer Control: Large-scale
are used to optimize fertilizer recommendation installation of Berry Borer traps and culturing of
and soil amendment. entomo-pathogenic fungus Beauvaria bassiana
& B. brongiartii, as a part of Integrated Pest
b. Our fertilizer program is rationalized based on
Management.
soil nutrient status and plant replenishment ratio,
which is optimized to provide adequate nutrients e. Compost Preparation using Coffee waste-
to enhance crop production and productivity. Culturing of specific strains of Streptomyces,

Bacillus & Phanerochete for compost raw As a part of CSR programme R&D has extended its
material degradation & enrichment. Trials technical support and training session to Tribal welfare.
are underway for exploring new commercial
H. Certifications – All our cultural operations are
biological formulations for effective utilization of
validated through international certifications such as
farm wastes.
UTZ, Rainforest Alliance, SA 8000, ISO 22000 and Cafe
f. Coffee White Stem Borer Control: Monitoring Practices. Obtained UTZ, Rainforest Alliance and Café
WSB by installing Pheromone traps, ‘Lime spray’ practices Certificates for Coffee export to EU, USA and
and intensive tracing. R&D has introduced Japan; NOP and NPOP Certificate for Organic produce,
Impregnated Non-woven fabric wraps to and ISO: 22000 Certification for R & G and Pepper
emphasize the population suppression as a part Processing unit at KNW, Export inspection agency
of Integrated Pest Management [IPM] to keep certification for Pepper Export. Our R&D Laboratory
sustainability. is recognized by the Department of Scientific and
Industrial Research, Ministry of Science and Technology.
g. Management of Tea Mosquito Bug: - Trials are
R&D honey processing unit is registered under FSSAI.
underway to explore new botanical formulations
for the TMB control. I. Plan of action In-House
h. Topee grafting - Topee grafted plants with 1. Improved crop varieties:
Robusta rootstock were produced for Nematode Field evaluation of location specific plants for
Management. high yielding, pest, disease, and drought tolerant
selection in Coffee. Purity of the estate varieties
i. Wild animal repellent – To reduce Man-animal
are being assessed through DNA fingerprinting
conflict in our estates R&D has initiated trials
Technology. In house production and supply of
using organic repellents.
Seed coffee has been initiated.
D. Organic cultivation 2. Improving Productivity:
Coffee and Pepper cultivation follows Organic Farming Top working of old/moribund/un-productive
Standards as per NPOP and NOP – US technical plants with productive scions to improve
standards. Agro-waste management and recycling productivity.
through large-scale production of quality compost 3. Crop Diversification:
with improvised technology by incorporating microbial
Assessing the potential of very low yielding coffee
consortium has been done to enhance the soil fertility
areas and identifying other alternate suitable
and vigor of the plants.
commercial crops and fruit trees. Horticulture
E. Mono Cultivation of Pepper and Crop Diversification: crops like Avocado, Mangosteen, Rambutan,
Intensive Pepper cultivation with improved package Dragon fruit and tree spice – Nutmeg, Bixa-annata
of practices. R&D has introduced unique economic are experimented.
method for pepper cultivation by using Pepper 4. Value addition trials - The experiments are under
Procliners. Areca nut and Oil palm planted along way to develop unique formulation from coffee
the valleys and marginal areas have established and and coffee by products.
contributing to substantial revenue.
5. Digitalization – R&D is exploring Digital apps and
F. Good Manufacturing practices- R&D’s main focus is tools for Plant selection, Environment monitoring,
constantly working towards increasing the scope of Pest and disease management.
improvement with Preparation of Standard Operating J. Coffee ‘Wastewater’ Management Research:
Procedure (SOP) and package of practices based on
R&D always recommends eco-friendly neutralization
Good Agricultural practices (GAP) and Good Processing
agents and biological processes for wastewater
Practices (GPP).
treatment and energy recovery from wastewater.
G. Knowledge sharing – TCL estates are practicing economical wastewater
treatment through eco-friendly Organic and Microbial
Periodical training programs on critical cultural
products which is recommended based on R&D
operations for estate personnel. Monthly Advisory
research.
Circulars are sent to the estates and to our customers
including Arakku valley farmers and tribal growers to K. Water conservation:
update current/new trends in cultivation practices, pest, R&D is working to develop an economically viable
disease management and post-harvest technology technique for recycling of treated wastewater for
which is available in English and Kannada languages. agricultural use.

L. Quality enhancement – Improved process to preserve  College of Forestry Science, University of Agricultural
the “Inherent quality” of estate produce, right time of Sciences, Bangalore.
crop harvest based on sugar content (coffee), improved
 Scientific technical guidance to students pursuing
post- harvest drying standards for Coffee and Pepper to
higher studies both National and International.
avoid microbial contamination.
M. Quality of Surface Water – To assess and confirm that 5. In case of imported technology (imported during the last
our farm activities are not contaminating the receiving three years reckoned from the beginning of the Financial
water bodies, even though less hazardous chemicals Year):
are used as per Sustainable Agricultural Network and (a) The details of technology / Instrument imported: Not
WHO standard. Applicable
N. Apiculture - To enhance productivity through insect
(b) the year of import: Not Applicable
pollination in Coffee, to revive the diminishing
population of honeybees and to preserve the (c) whether the technology been fully absorbed: Not
biodiversity. R&D is processing estate produced honey Applicable
as per FSSAI standards.
(d) if not fully absorbed, areas where absorption has not
O. Pisciculture – Scaling up of Fish farming in Irrigation taken place, and the reasons thereof: Not Applicable
tank, to preserve the aquatic eco system and also for
Revenue generation. 6. Expenditure incurred on Research and Development
[R&D]:
P. Collaborative Research: R&D is collaborating with
various research institutions as well as technical firms (₹ in Lakh)
for the benefit of plantation community. Particulars 2021-22 2020-21
 R&D team is in touch with International Research Capital Expenditure 2.53 0.10
Scientists from World Coffee Research, Ohio State Revenue Expenditure 88.63 76.25
University, INTERTEK, RD2 Vision, etc. for exploring new
Total 91.16 76.35
advanced technologies for Sustainable Agriculture.
Total R&D expenditure as a % of 0.11% 0.10%
 R&D team is trying to explore the possibilities of net sales
utilizing ‘Drone Technology’ for various aspects of (C) FOREIGN EXCHANGE EARNINGS AND OUTGO:
coffee plantation.
(₹ in Lakh)
Collaboration with Research Institutes: -
Particulars 2021-22 2020-21
 Central Coffee Research Institute, Balehonnur.
Foreign Exchange Earned 47016 44454
 Tamil Nadu Agriculture University, Coimbatore. Foreign Exchange Outgo 18057 15878
 University of Agricultural Sciences, Bangalore.
 Indian Institute of Spices Research (IISR), Calicut. For and on behalf of the Board
 Collaborative Research with Tata Chemicals Innovation

Centre and Rallis Innovation Chemistry Hub, with
respect to Arabica White Stem Borer and Termite on Place: Bengaluru R. Harish Bhat
‘live standards. Date: April 26, 2022 Chairman

Report on Corporate Governance
1. Company’s Philosophy on Code of Governance: The Company is in compliance with the requirements
Effective corporate governance practices constitute stipulated under Regulation 17 to 27 read with Schedule V
the strong foundation on which successful commercial and clauses (b) to (i) of sub-regulation (2) of Regulation 46 of
enterprises are built to last. Your Company’s Corporate Securities and Exchange Board of India (Listing Obligations
Governance philosophy is based on transparency, and Disclosure Requirements) Regulations, 2015, hereinafter
accountability, values, and ethics, which forms an integral called “the Listing Regulations” as applicable, with regard to
part of the Management’s initiative in its ongoing pursuit corporate governance and also the Guidance Note on Board
towards achieving excellence, growth, and value creation. Evaluation as prescribed by the Securities and Exchange
Your Company is committed to highest standards of Board of India (SEBI) .
Corporate Governance and disclosure practices to ensure that
its affairs are managed in the best interest of all stakeholders. 2. Board of Directors and governance framework:
As part of Tata Group, your Company has a strong legacy of
(I) Composition & Category of Directors
fair, transparent, and ethical governance practices. Strong
leadership and effective corporate governance practices The Board of Directors along with its Committees
have been the Company’s hallmark inherited from the Tata provides leadership and guidance to the Management
culture and ethos. and directs and supervises the performance of the
Company, thereby enhancing stakeholder value. The
The Corporate Governance philosophy of your Company Board has a fiduciary relationship in ensuring that the
ensures transparency in all dealings and in the functioning of rights of all stakeholders are protected. Your Company
the management and the Board. These policies seek to focus has an engaged and well-informed Board with
on enhancement of long-term shareholder value without qualifications and experience in diverse areas.
compromising on integrity, social obligations, and regulatory
compliances. The Company operates within accepted The Company’s Board has an optimum combination
standards of propriety, fair play and justice and aims at of Executive and Non-Executive Directors including
creating a culture of openness in relationships between itself a Woman Director. The Board of Directors as at the
and its stakeholders. It has set up a system which enables end of March 31, 2022, comprised of 8 Directors,
all its employees to voice their concerns openly and without out of which 2 were Executive Directors and 6 were
any fear or inhibition. The corporate governance philosophy Non-Executive Directors, which includes 4 Independent
of the Company has been further strengthened through the Directors. The Chairman of the Board is a Non-Executive
Tata Code of Conduct, Tata Business Excellence Model, Tata Director and more than one-half of the total number
Code of Conduct for Prevention of Insider Trading and Code of Directors comprised of Non-executive Directors. The
of Corporate Disclosure Practices. The Company has in place Independent Directors constitute one-half of the total
a Policy that ensures proper utilization of IT resources. Board strength.
The Corporate Governance practices followed by the Mr. S. Venkatraman was appointed as an Additional
Company are compatible with International Standards. Director (Non-Executive Independent Director)
Your Company has established systems to encourage effective July 28,2021. Mr. V. Leeladhar retired as
and recognize employee participation and volunteering Director of the Company, effective from the close of
in environmental and social initiatives that contribute to business hours of December 6, 2021, consequent upon
Organizational Excellence, Sustainability, Human Resources his completion of tenure of office.
Development, and health of its employees and of the
community in which the Company operates. These actions The composition of the Board is in conformity with
have become an integral part of your Company’s operating Regulation 17 of Listing Regulations read with Section
plans for performing social responsibilities too. 149 of the Companies Act, 2013 (“the Act”).

The Composition of the Board as of March 31, 2022, is Independent Directors are Non-executive Directors
given below. as defined under Regulation 16(1)(b) of the Listing
Regulations read with Section 149(6) of the Act and the
Category of Name of Directors No. of % Rules framed thereunder. In terms of Regulation 25(8)
Directors Directors
of the Listing Regulations, they have confirmed that
Non- 1. Mr. R. Harish Bhat 2 25% they are not aware of any circumstance or situation
Independent (Chairman)
which exists or may be reasonably anticipated that
Non- 2. Mr. Sunil A. D’Souza
Executive could impair or impact their ability to discharge their
Directors duties. Based on the declarations received from the
Independent 1. Mr. S. Venkatraman 4 50% Independent Directors, the Board of Directors has
Directors 2. Ms. Sunalini Menon confirmed that they meet the criteria of independence
3. Mr. Siraj Azmat as mentioned under Regulation 16(1)(b) of the Listing
Chaudhry Regulations and that they are independent of the
4. Dr. P. G. Chengappa management. Further, the Independent Directors have
Executive 1. Mr. Chacko Purackal 2 25% included their names in the data bank of Independent
Directors Thomas Directors maintained with the Indian Institute of
(Managing Director & Corporate Affairs in terms of Section 150 of the Act
CEO) read with Rule 6 of the Companies (Appointment &
2. Mr. K.
Qualification of Directors) Rules, 2014.
Venkataramanan
(Executive Director- (II) Board meetings:
Finance & CFO)
During FY 2021-22, 6 meetings of the Board were
None of the Directors of the Company are related to held. The said meetings were held on April 29, 2021,
each other and there are no inter-se relationships July 28, 2021, October 18, 2021, January 28, 2022,
between the Directors. As on March 31, 2022, none of March 22, 2022 and March 29, 2022 and the maximum
the Directors hold equity shares in the Company. The time gap between two Board meetings was less than
Company has not issued any convertible instruments. 120 days. The minutes of the meetings of all the Board
and Committees are circulated to all the Directors after
None of the Directors on the Board is a Director in
more than 7 listed entities. None of the Non – Executive incorporating the comments of the Directors.
Directors is an Independent Director in more than (III) Details of the attendance of Directors and other
7 listed entities as required under the Listing Directorship/Committee positions, etc.:
Regulations. Further, the Managing Director and
The names and categories of the Directors on the Board,
the Executive Director do not serve as Independent
their attendance at the Board meetings held during the
Directors in any listed company. None of the Directors
year and at the last Annual General meeting (“AGM”)
held Directorships in more than 20 Indian companies,
held through Video-Conferencing/ Other Audio-
with more than 10 public limited companies. None of Visual Means and the number of Directorships and
the Directors on the Board is a member of more than 10 Committee Chairmanships/Memberships held by them
Committees or Chairman of 5 Committees (committees in other public limited companies as on March 31, 2022
being Audit Committee and Stakeholder Relationship are given below. Other directorships do not include
Committee) across all Public Companies in India, directorships of associations, private limited companies,
in which he/she is a Director. Necessary disclosures foreign companies, companies incorporated under
regarding their Committee positions have been made Section 8 of the Act, Government Bodies and Alternate
by all the Directors. Directorships. For the purpose of determination of
All Directors are in compliance with the limit on limit of the Board Committees, Chairpersonship and
Directorships/Independent Directorships of listed Membership of the Audit Committee and Stakeholders’
companies as prescribed under Regulation 17A of the Relationship Committee has been considered as per
Listing Regulations. Regulation 26(1)(b) of the Listing Regulations.

a. Details of attendance of each Director at Board meetings and at the last year’s Annual General meeting:
AGM Date of Board Meetings
Name of Directors % of
14.06.2021 29.04.2021 28.07.2021 18.10.2021 28.01.2022 22.03.2022 29.03.2022
Attendance
Mr. R. Harish Bhat Y Y Y Y Y Y Y 100
Chairman (Non-Executive,
Non- Independent)
DIN: 00478198
Mr. Sunil A. D’Souza Y Y Y Y Y Y Y 100
(Non-Executive,
Non- Independent)
DIN:07194259
Mr. S. Venkatraman# NA NA Y Y Y Y Y 100
(Non- Executive, Independent)
DIN: 00246012
Mr. V. Leeladhar* Y Y Y Y NA NA NA 100
DIN: 02630276
Ms. Sunalini Menon Y Y Y Y Y Y Y 100
DIN: 06983334
Mr. Siraj Azmat Chaudhry Y Y Y Y Y Y Y 100
DIN: 00161853
Dr. P.G. Chengappa Y Y Y Y Y Y Y 100
DIN: 06771287
Mr. Chacko Purackal Thomas Y Y Y Y Y Y Y 100
DIN: 05215974
Mr. K. Venkataramanan Y Y Y Y Y Y Y 100
(Executive Director – Finance & CFO)
DIN: 01728072
#
Mr. S. Venkatraman was appointed as an Additional Director (Non -Executive, Independent) on the Board of the Company w.e.f. July 28, 2021.
*
Mr. V. Leeladhar ceased to be an Independent Director consequent upon his retirement w.e.f. close of business hours on December 6, 2021.

b. The composition and category of Directors, the number of Directorships and Committee Chairpersonships / Memberships
held by them and Directorships held by them in other listed entities as on March 31, 2022:
Name of Director Directorships Number of Committee Directorship in other listed Companies (category of directorships) as
in other Public Positions held in Other on March 31, 2022
Companies Public Companies
(excluding Tata (excluding Tata Coffee
Coffee Limited) Limited)
Member Chairman Name of Listed Entity Category of Directorship
Mr. R. Harish Bhat 4 1 1 Trent Limited Non – Executive
(Chairman) Non – Independent
DIN: 00478198
Mr. Sunil A. D’Souza 2 1 - Tata Consumer Products Limited Managing Director & CEO
DIN:07194259
Mr. S. Venkatraman 3 2 3 1. Mahanagar Gas Limited Non – Executive, Independent
DIN: 00246012 2. Fairchem Organics Limited Non – Executive, Independent
3. HDB Financial Services Limited^ Non – Executive, Independent
Ms. Sunalini Menon - - - - -
DIN: 06983334
Mr. Siraj Azmat Chaudhry 6 2 2 1. Tata Consumer Products Limited Non – Executive, Independent
DIN: 00161853 2. Dhanuka Agritech Limited Non – Executive, Independent
3. Jubilant Ingrevia Limited Non – Executive, Independent
Dr. P. G. Chengappa 3 2 - Tasty Bite Eatables Limited Non – Executive, Independent
DIN: 06771287
Mr. Chacko Purackal - - - - -
Thomas
DIN: 05215974
Mr. K. Venkataramanan 1 - - - -
(Executive Director –
Finance & CFO)
DIN: 01728072
^ Regulation 17A of the Listing Regulations provides for the inclusion of only listed entities for reckoning the directorship in the listed entities. However, directorships held in
equity as well debt listed entities have been considered for reporting as above.
(IV)
Skills/expertise/competencies identified by the c) Strategic thinking and Planning: Appreciation
Board of Directors of long-term trends, strategic choices, and
As required under the Listing Regulations, the list of experience in guiding and leading management
core skills/ expertise/competencies as identified by the teams to make decisions in uncertain
Board of Directors in the context of its business and environments.
sector for it to function effectively and those available d) Financial Skills
with the Board are as under: e) Governance: Experience in developing
Matrix of skills / expertise/competencies: governance practices, serving the best interest
of all stakeholders, maintaining Board and
a) Knowledge: Understanding of the Company’s Management accountability, building long-term
business, policies and culture (including its effective stakeholders engagements and driving
mission, vision, values, goals, current strategic corporate ethics and values.
plan, governance structure, major risks and threats f) Technical/Professional skills and specialised
and potential opportunities) and knowledge of Knowledge to assist the ongoing aspects of the
the industry in which the Company operates. business.
b) Behavioural Skills: Attributes and competencies The Board of the Company is highly structured to
to use their knowledge and skills to function ensure a high degree of diversity by age, education/
well as a team-members and to interact with key qualifications, professional background, sector
stakeholders. expertise and special skills.

The details of Directors of the Company who possess the above referred skills/expertise/competencies are as given below:
Director Knowledge of Behavioural Strategic Financial Governance Skills Technical/

the Company’s Skills thinking and Skills Professional skills
business Planning and specialised
Knowledge
Mr. R. Harish Bhat, Chairman Y Y Y Y Y Y
Mr. Sunil A. D’Souza Y Y Y Y Y Y
Mr. S. Venkatraman Y Y Y Y Y Y
Ms. Sunalini Menon Y Y Y Y Y Y
Mr. Siraj Azmat Chaudhry Y Y Y Y Y Y
Dr. P.G. Chengappa Y Y Y Y Y Y
Mr. Chacko Purackal Thomas Y Y Y Y Y Y
Mr. K. Venkataramanan Y Y Y Y Y Y
(V) Board Procedure Management, Safety, Business Sustainability and

The annual tentative calendar of Board and Committee Environmental matters.
Meetings is circulated to the members of the Board, The Board also reviews the compliance reports of the
well in advance. The agenda is circulated well in advance laws applicable to the Company, Internal Financial
to the Board members, along with comprehensive Controls and Financial Reporting Systems, Minutes of
back-ground information on the items in the agenda to the Meeting of the Subsidiary companies, adoption
enable the Board members to take informed decisions. of quarterly/half-yearly/annual results, transactions
The agenda and related information are circulated in pertaining to disposal of property, minutes of
electronic form through a highly secured web-based committees of the Board.
application, which is accessible to the Board members
through iPad. The Board also reviews the declarations made by the
Managing Director & CEO, the Executive Director –
The Company Secretary tracks and monitors Board Finance & Chief Financial Officer and the Company
and Committee proceedings to ensure that the Terms Secretary regarding compliance with all applicable
of Reference/Charters are adhered to, decisions are laws and reviews the related compliance reports, on a
properly recorded in the minutes and actions on quarterly basis.
the decisions are tracked. The Terms of Reference/
Charters are amended and updated from time to time The information as required under Part A of Schedule II
in order to keep the functions and role of the Board to the Listing Regulations is also made available to the
and Committees at par with the changing statutes. Board, wherever applicable, for their consideration.
Meeting effectiveness is ensured through clear agenda, Video conferencing facility is used as and when required
circulation of agenda material in advance, detailed to facilitate Directors at other locations to participate in
presentations at the meetings and tracking of action the meetings.
taken reports at every meeting. Additionally, based
on the agenda, meetings are attended by members (VI) Code of Conduct
of the senior leadership as invitees, which brings
The Company has adopted the ‘Tata Code of Conduct’
in the requisite accountability and also provides
which is applicable to its employees, including the
developmental inputs.
Managing and Executive Directors. The Board has also
The Board plays a critical role in strategy development approved a Code of Conduct for the Non-Executive
of the Company. The Managing Director & CEO apprises Directors of the Company, which incorporates the
the Board on the overall performance of the Company duties of Independent Directors as laid down in the Act.
every quarter including the performance of the Both these Codes are posted on the Company’s website
overseas subsidiary company. at the web link:
The Board periodically reviews the strategy, annual https://tatacoffee.com/sites/default/files/collaterals/
business plan, business performance of the Company investors/Code_of_Conduct_of_Independent_
and its Subsidiary company, Capex Budget, Risk Directors_and_Non_Executive_Directors.pdf

All the Board Members and Senior Management The Board is of the opinion that the Independent
Personnel have affirmed compliance with the Directors fulfil the conditions specified in the Act and
applicable Code of Conduct for the financial year the Listing Regulations and that they are independent
2021-22. A declaration to this effect, signed by the of the management.
Managing Director & CEO, forms part of this Report.
in terms of Section 150 of the Act read with Rule 6
Apart from receiving remuneration that they are of the Companies (Appointment & Qualification of
entitled to under the Act as Non-Executive Directors and Directors) Rules, 2014, the Independent Directors have
reimbursement of expenses incurred in the discharge confirmed that they have enrolled themselves in the
of their duties, none of the Non-Executive Directors
Independent Directors’ Databank maintained with the
has any other pecuniary relationship or transactions
Indian Institute of Corporate Affairs.
with the Company, its Promoters or Directors, its Senior
Management or its Subsidiaries. No Independent Director had resigned during the
The Senior Management of the Company have made financial year 2021-22.
disclosures to the Board confirming that there are no
material financial and/or commercial transactions (a) Meeting of Independent Directors
between them and the Company that could have A separate meeting of Independent Directors
potential conflict of interest with the Company at large. of the Company without the presence of
the Executive Directors & the Management
(VII)
Tata Code of Conduct for Prevention of Insider Representatives was held on March 21, 2022 as
Trading & Code of Corporate Disclosure Practices required under Schedule IV to the Act (Code for
In accordance with the Securities and Exchange Board of Independent Directors) and Regulation 25 (3) of
India (Prohibition of Insider Trading) Regulations, 2015, the Listing Regulations. At the said meeting, the
as amended from time to time, the Board of Directors Independent Directors:
of the Company has adopted the revised Tata Code of
Conduct for prevention of Insider Trading and the Code (a) reviewed the performance of
of Corporate Disclosure Practices (Insider Trading Code). Non-Independent Directors and the Board
All the Directors, Employees of the Company and their of Directors as a whole;
immediate relatives and other connected persons who
could have access to the Unpublished Price Sensitive (b) reviewed the performance of the Chairman
Information of the Company, are governed under this of the Company, taking into account the
Insider Trading Code. Mr. K. Venkataramanan, Executive views of Executive Directors and Non-
Director – Finance & CFO of the Company is the Executive Directors;
‘Compliance Officer’ for the purpose of this Regulation. (c) assessed the quality, quantity and
(VIII) Independent Directors timeliness of flow of information between
The Independent Directors of the Company have been the Management of the listed entity and
appointed in terms of the requirements of the Act, the the Board of Directors that is necessary for
Listing Regulations and the Governance Guidelines the Board of Directors to effectively and
for Board Effectiveness adopted by the Company. reasonably perform their duties.
Formal letters of appointment have been issued to the All the Independent Directors of the Company
Independent Directors and the terms and conditions
attended the Meeting of Independent Directors
of their appointment are disclosed on the Company’s
held on March 21, 2022. The Independent
website at the web link: https://tatacoffee.com/sites/
Directors expressed their satisfaction to the
default/files/collaterals/investors/appointment_letter_
desired level on the governance of the Board.
independent_director.pdf
The Company has received declaration from the During the financial year 2021-22, the Company
Independent Directors confirming that they meet the had constituted a Committee of Independent
criteria of independence as prescribed under Section Directors to consider the Composite Scheme
149(6) of the Act read with Regulation 16(1)(b) of the of Arrangement amongst Tata Consumer
Listing Regulations. In terms of Regulation 25(8) of the Products Limited (“TCPL”), the Company and
Listing Regulations, the Independent Directors have TCPL Beverages and Foods Limited (“TBFL”),
confirmed that they are not aware of any circumstances and their respective shareholders and creditors,
or situations which exist or may be reasonably under Sections 230 to 232 and other applicable
anticipated that could impair or impact their ability to provisions of the Companies Act, 2013 and the
discharge their duties. rules and/or regulations made thereunder (‘the

Scheme’). The said Committee discussed and risks, grievance redressal for investors, stakeholder
approved the Composite Scheme of Arrangement value and responsibility, conflict of interest, review
at its meeting held on March 29, 2022 and of Board evaluation and facilitating Independent
recommended the same to the Board. Directors to perform their role effectively; evaluation
of Management’s performance and feedback,
(b)
Familiarization Programme for Independent independence of management from the Board, access
Directors of Board and Management to each other, succession
The Company familiarizes its Independent plan and professional development; degree of
Directors with their roles, rights, responsibilities fulfillment of key responsibilities, establishment
in the Company, nature of the industry in and delineation of responsibilities to Committees,
which the Company operates, etc., through effectiveness of Board processes, information and
various programmes. These include orientation functioning and quality of relationship between the
programme upon induction of new Director, as Board and management.
well as other initiatives to update the Directors
Criteria for evaluation of individual Directors include
on an ongoing basis. During the financial year
2021-22, the Company organized a familiarization aspects such as professional qualifications, prior
programme for Mr. S. Venkatraman, who was experience, especially experience relevant to the
inducted to the Board w.e.f., July 28, 2021, as an Company, knowledge and competency, fulfillment
Independent Director. of functions, ability to function as a team, initiative,
availability and attendance, commitment, contribution,
Further, the Company also makes periodic integrity, independence and guidance/ support to
presentations at the Board and Committee Management outside Board/ Committee Meetings. In
meetings on various aspects of the Company’s addition, the Chairman is also evaluated on key aspects
operations including on Health and Safety, of his role, including effectiveness of leadership and
Sustainability, Performance updates of the ability to steer meetings, impartiality, ability to keep
Company, Industry scenario, Business Strategy, shareholders’ interests in mind and effectiveness as
Internal Control and risks involved and Mitigation Chairman.
Plan.
Criteria for evaluation of the Committees of the Board
The details of the Familiarization Programme for include mandate of the Committee and composition;
Independent Directors for 2021-22 is disclosed on effectiveness of the Committee; structure of the
the Company’s website at the web link: https:// Committee; regularity and frequency of meetings,
tatacoffee.com/sites/default/files/collaterals/ Agenda, discussion and dissent, recording of minutes
investors/tatacoffee-familiarisation-fy2021-22.pdf and dissemination of information; independence of the
Committee from the Board; contribution to decisions
(IX)
Board and Directors’ Evaluation and Criteria for of the Board; effectiveness of meetings and quality
Evaluation of relationship of the Committee with the Board and
During the year, the Board carried out an Annual Management.
Evaluation of its own performance and the performance
The procedure followed for the performance evaluation
of individual Directors, as well as evaluation of
of the Board, Committees and Directors is detailed in
Committees of the Board.
the Board’s Report, which forms part of the Annual
The Nomination and Remuneration Committee (NRC) Report.
has defined the evaluation criteria, procedure and time
schedule for the Performance Evaluation process for The Nomination and Remuneration Committee
the Board, its Committees and Directors. The criteria (NRC) has also formulated criteria for determining
for Board Evaluation include inter-alia, structure of qualifications, positive attributes and independence of
the Board, qualifications, experience and competency Directors in terms of Section 178(3) of the Act and the
of Directors, diversity in Board and process of Listing Regulations.
appointment; Meetings of the Board, including
regularity and frequency, agenda, discussion and 3. Audit Committee:
dissent, recording of minutes and dissemination of A qualified and independent Audit Committee has
information; functions of the Board, including strategy been constituted by the Board in compliance with the
and performance evaluation, corporate culture and requirements of Section 177 of the Act and Regulation 18 of
values, governance and compliance, evaluation of the Listing Regulations.

I. Brief description of terms of reference ix. Scrutiny of inter-corporate loans and investments;
The terms of reference of the Audit Committee covers x. Review of valuation of undertakings or assets of
the areas mentioned in Section 177 of the Act and the company wherever it is necessary;
Regulation 18 read with Part C of Schedule II to the
Listing Regulations. The terms of reference of the Audit xi. Evaluation of Internal Financial Controls and Risk
Committee, inter-alia are as follows: Management Systems;
i. Oversight of the Company’s financial reporting xii. Review with the Management, Statutory Auditors
process and the disclosure of its financial and the Internal Auditors about the nature and
information to ensure that the financial statement scope of audits and of the adequacy of internal
is correct, sufficient and credible; control systems;
ii. Recommending the appointment and removal xiii. Reviewing the adequacy of Internal Audit
of External Auditors, fixation of audit fee and Function, if any, including the structure of the
approval for payment for any other services; Internal Audit Department, staffing and seniority
iii. Reviewing the utilization of loans and /advances of the official heading the Department, reporting
from/investment by the holding company in the structure, coverage and frequency of Internal
subsidiary exceeding ` 100 Crores or 10% of the Audit;
asset size of the subsidiary, whichever is lower xiv. Reviewing the findings of any internal
including existing loans / advances / investments. investigations by the Internal Auditors into
iv. Review with the management and statutory matters where there is suspected fraud or
auditors of the annual financial statements before irregularity or a failure of Internal Control Systems
submission to the Board with particular reference of a material nature and reporting the matter to
to: the Board;
(a) Matters required to be included in the xv. Consideration of the reports of the Internal
Directors’ Responsibility Statement to be Auditors and discussion about their findings
included in the Board’s Report in terms of with the Management and suggesting corrective
clause (c) of sub-section (3) of Section 134 of actions wherever necessary;
the Act ;
xvi. Looking into the reasons for any substantial
(b) Changes, if any, in accounting policies and defaults in payment to the Depositors, Debenture-
practices and reasons for the same; holders, Shareholders (in case of non-payment of
(c) Major accounting entries involving declared dividend) and Creditors, if any;
estimates based on the exercise of judgment xvii. Review the functioning of the Whistle Blower
by management; Mechanism;
(d) Significant adjustments made in the financial
xviii. Review and monitor the end use of funds raised
statements arising out of audit findings;
through public offers and related matters;
(e) Compliance with listing and other legal
xix. Approval of appointment of Chief Financial Officer
requirements relating to financial statements
after assessing the qualifications, experience and
(f ) Disclosure of any related party transactions; background, etc. of the candidate;
(g) Modified opinion(s) in the draft audit report; xx. Frame and review policies in relation to
v. Review of the quarterly and half yearly financial implementation of the Code of Conduct for
results with the management and the statutory Prevention of Insider Trading and supervise its
auditors; implementation under the overall supervision of
the Board;
vi. Examination of the financial statement and the
auditors’ report thereon; xxi. Review of the following information:
vii. Review and monitor statutory auditor’s (1) Management Discussion and Analysis of
independence and performance and effectiveness financial condition and results of operations;
of audit process;
(2) Statement of significant Related Party
viii. Approval or any subsequent modification of Transactions (as defined by the Audit
transactions with related parties; Committee), submitted by Management;

(3) Management letters / letters of Internal 2021, July 27, 2021, August 6, 2021, September 15,
Control weaknesses issued by the Statutory 2021, October 18, 2021, December 16, 2021, January
Auditors; 27, 2022, March 21, 2022 and March 29, 2022. Requisite
(4) Internal Audit Reports relating to Internal quorum was present at the above Meetings.
Control weaknesses; The composition of the Audit Committee and the
(5) the appointment, removal and terms of details of the meetings attended by its members during
remuneration of the Chief Internal Auditor; the Financial Year ended March 31, 2022 are as under:
(6) Statement of deviations:
Name of Director Category of No. of No. of
(a)
quarterly statement of deviation(s) Directors meetings meetings
including report of monitoring agency, attended held^
if applicable, submitted to Stock Mr. V. Leeladhar* Non-Executive, 5 5
Exchange(s) in terms of Regulation Chairman Independent
32(1); Mr. S. Venkatraman** Non-Executive, 7 7
Chairman Independent
(b) annual statement of funds utilized for Ms. Sunalini Menon Non-Executive, 9 9
purposes other than those stated in the Independent
offer document/prospectus in terms of Mr. Siraj Azmat Chaudhry Non-Executive, 9 9
Regulation 32(7), if applicable. Independent
Dr. P. G. Chengappa Non-Executive, 9 9
xxii. Carrying out any other function as may be referred Independent
to the Committee by the Board.
* Ceased to be a member consequent to his retirement from the Board of the
xxiii. Authority to review / investigate into any matter Company w.e.f. December 6, 2021
covered by Section 177 of the Companies Act, ** Inducted to the committee w.e.f. July 28, 2021 and appointed as the Chairman of
2013 and matters specified in Part C of Schedule the Committee w.e.f. December 7, 2021
II of the Listing Regulations.
^Number of meetings held during the tenure of respective member in the Committee
xxiv. Consider matters relating to Company’s Code of
Conduct and such matters as may be referred by The Audit Committee meetings are usually attended by
the Board, from time to time the Managing Director & CEO, Executive Director – Finance
& CFO, and the respective departmental heads, wherever
II. Internal Audit required. The Company Secretary acts as the Secretary of
The Company has adequate Internal Control and the Audit Committee. The Statutory Auditors and Internal
Internal Audit system commensurate with its size Auditors also attend the Audit Committee meetings by
and nature of its Business. The Internal Audit Plan is invitation.
approved by the Audit Committee and the Internal
All the recommendations of the Audit Committee made in
Auditors directly present their reports to the Audit
the financial year 2021-22 have been accepted by the Board
Committee for their consideration.
of Directors.
III.
Composition of the Committee, attendance of During the year, the Audit Committee reviewed key audit
members at the meeting and other details findings covering Operational, Financial and Compliance
The Audit Committee of the Company is constituted areas, Risk Mitigation Plan covering key risks affecting
in accordance with the provisions of Regulation 18 of the Company which were presented to the Committee.
the Listing Regulations and the provisions of Section The Chairman of the Audit Committee briefed the Board
177 of the Act. All members of the Committee are members on the significant discussions which took place at
financially literate. Consequent to the retirement of Audit Committee Meetings.
Mr. V. Leeladhar from the Board w.e.f. December 6, 2021,
Mr. S. Venkatraman was appointed as the Chairman Mr. V. Leeladhar, as Chairman of the Audit Committee was
of the Committee effective 7th December 2021. present at the Annual General Meeting of the Company held
Mr. S. Venkatraman is a Chartered Accountant having on June 14, 2021.
35 years of experience and possesses the relevant
accounting and financial management expertise. 4. Nomination and Remuneration Committee:
The Audit Committee met nine (9) times during the The Nomination and Remuneration Committee (NRC) has
Financial Year 2021-22 and the gap between any two been constituted by the Board in compliance with the
meetings did not exceed 120 days. The dates on which requirements of Section 178 of the Act and Regulation 19 of
the Audit Committee Meetings held were: April 28, the Listing Regulations.

I. Brief description of terms of reference Name of the Category of No. of No. of
The terms of reference of the NRC covers the areas Member Director meetings meetings
attended held^
mentioned in Section 178 of the Act and Regulation
19 read with Part D (A) of Schedule II to the Listing Mr. Siraj Azmat Non-Executive 2 3
Regulations. The terms of reference of the NRC, Chaudhry – Chairman Independent
inter-alia are as follows: Mr. V. Leeladhar* Non-Executive 2 2

Independent
(a) formulation of the criteria for determining
Mr. R. Harish Bhat Non 3 3
qualifications, positive attributes and Independent
independence of a director and recommend to Non-Executive
the Board of Directors a policy relating to the
Mr. S. Venkatraman** Non-Executive 1 1
remuneration of the directors, key managerial Independent
personnel and other employees;
*Ceased to be a member consequent upon his retirement
(b) formulation of criteria for evaluation of w.e.f. December 6, 2021
performance of Independent Directors and the **inducted as a member of the committee w.e.f. December 7, 2021
Board of Directors; ^Number of meetings held during the tenure of respective member
in the Committee
(c) devising a policy on diversity of Board of Directors;
Mr. Siraj Azmat Chaudhry, as Chairman of the NRC was
(d) identifying persons who are qualified to become present at the Annual General Meeting of the Company held
Directors and who may be appointed in Senior on June 14, 2021.
Management in accordance with the criteria laid
down, and recommend to the Board of Directors III. Performance Evaluation
their appointment and removal; Pursuant to the provisions of the Companies Act, 2013
and the applicable provisions of the Listing Regulations,
(e) whether to extend or continue the term of
the Annual Performance Evaluation was carried out for
appointment of the Independent Director, on the
the financial year 2021-22 by the Board in respect of its
basis of the report of performance evaluation of
own performance, the Directors individually as well as the
Independent Directors;
evaluation of the working of its Audit, Nomination and
(f ) recommending to the Board, the remuneration Remuneration, Risk Management, Stakeholders’ Relationship
of Managing and Whole-time Directors, including and Corporate Social Responsibility Committees.
their annual increment and commission after A structured questionnaire covering various aspects of the
reviewing their performance; Board’s functioning such as adequacy of the composition of
the Board and its Committees, Board culture, execution and
(g) recommend to the Board, all remuneration, in performance of specific duties, obligations and governance
whatever form, payable to Senior Management; was prepared after taking into consideration the Guidance
(h) identify Independent Directors to be inducted into note issued by SEBI vide circular no, CMD/CIR/P/2017/004
the Board from time to time and take steps to refresh dated January 5, 2017.
the composition of the Board from time to time; A separate exercise was carried out to evaluate the
(i) such other matters as may be specified by the performance of individual Directors including the
Board from time to time; Chairman of the Board who were evaluated on parameters
such as guidance / support to Management outside
II.
Composition of the Committee, attendance of Board / Committee meetings, degree of fulfillment
members at the meeting and other details of key responsibilities, effectiveness of meetings etc.
The performance evaluation of the Independent Directors
The NRC met three times during the financial year was carried out by the entire Board, excluding the Director
2021- 22 i.e., on April 29, 2021, July 23, 2021 and being evaluated. The Performance evaluation of the
March 22, 2022. The composition of the NRC and details Chairman and the Non-Independent Directors was carried
of meetings attended by its members during the out by the Independent Directors. The Directors expressed
financial year ended March 31, 2022, are given below: their satisfaction with the evaluation process.

IV. Remuneration Policy c) The aggregate Commission payable to all the

The Company’s philosophy for remuneration of Directors, NEDs and IDs is recommended by the NRC to the
Key Managerial Personnel and all other employees is based Board based on Company performance, profits,
on the commitment of fostering a culture of leadership with return to investors, shareholder value creation and
trust. The Company has adopted a Policy for remuneration any other significant qualitative parameters as may
of Directors, Key Managerial Personnel and other employees,
be decided by the Board. The NRC recommends to
which is aligned to this philosophy. The key factors
considered in formulating the Policy are as under: the Board, the quantum of Commission payable
for each Director based upon the outcome of
a) The level and composition of remuneration is
reasonable and sufficient to attract, retain and motivate the evaluation process which is driven by various
Directors to run the Company successfully; factors including attendance and time spent in
the Board and Committee Meetings, individual
b) Relationship of remuneration to performance is clear
and meets appropriate performance benchmarks; contributions at the Meetings and contributions
made by Directors other than in Meetings.
c) Remuneration to Directors, Key Managerial Personnel
and Senior Management involves a balance between d) The remuneration payable to Directors shall be
fixed and incentive pay reflecting short and long- inclusive of any remuneration payable for services
term performance objectives appropriate to the rendered in any other capacity, unless the services
working of the Company and its goals and also taking
rendered are of a professional nature and the
into consideration the performance of the Company
NRC is of the opinion that the Director possesses
during the year and for the Managing and Executive
Directors on certain parameters, such as condition of requisite qualification for the practice of the
the industry, achievement of budgeted targets, growth profession.
& diversification, remuneration in other companies of
(ii) Managing Director (‘MD’)/ Executive Director (‘ED’)/ Key
comparable size and complexity, performance of the
Managerial Personnel (‘KMP’)/ rest of the employees
directors at meetings of the Board and of the Board
Committees etc. The extent of overall remuneration should be sufficient
The Company does not have any Employee Stock Option to attract and retain talented and qualified individuals
Scheme. suitable for every role. Hence, remuneration should
be market competitive, driven by the role played by
V. Remuneration of directors the individual, reflective of the size of the Company,
The key principles governing the Company’s complexity of the Sector/ Industry/ Company’s
Remuneration Policy are as follows: Operations and the Company’s capacity to pay,
(i) Independent Directors and Non-Executive consistent with recognized best practices and aligned
Non-Independent Directors to regulatory requirements.
a) Independent Directors (‘ID’) and Basic/Fixed salary is provided to all employees to ensure
Non-Executive Non-Independent Directors that there is a steady income in line with their skills
(‘NEDs’) are paid sitting fees for attending the and experience. In addition, the Company provides
Meetings of the Board and of Committees of employees with certain perquisites, allowances and
which they are Members, and Commission within benefits in accordance with terms of employment/
regulatory limits, as recommended by the NRC contract.
and approved by the Board.
In addition to the Basic/ Fixed salary, benefits,
b) Overall remuneration should be reasonable and
perquisites and allowances as mentioned above, the
sufficient to attract, retain and motivate Directors
Company provides to its MD/ ED, such remuneration
aligned to the requirements of the Company
taking into consideration the challenges by way of Commission, calculated with reference to
faced by the Company and its future growth. the net profits of the Company in the financial year,
Remuneration paid should be reflective of the as may be determined by the Board, subject to the
size of the Company, complexity of the Sector overall ceilings stipulated under Section 197 of the Act.
/ Industry / Company’s Operations and the The specific amount payable to the MD/ ED would be
Company’s capacity to pay the remuneration and based on performance as evaluated by the NRC and
be consistent with recognized best practices. recommended by them and approved by the Board.

Details of remuneration paid during the financial year 2021-22
a) Non-Executive Directors (NEDs’)
(` in Lakh)
Name of Non-Executive Director Commission relating to Commission relating to Sitting fees

FY 2020-21 FY 2021-22 (payable in (paid in FY 2021-22)
(paid in FY 2021-22) FY 2022-23)
Mr. R. Harish Bhat * - - 2.40
Mr. Sunil A. D’Souza* - - 1.70
Ms. Sunalini Menon 21.50 22.00 5.50
Mr. V. Leeladhar (upto December 06, 2021) 32.00 21.00 3.40
Mr. Siraj Azmat Chaudhry 25.00 26.00 6.10
Dr. P. G. Chengappa 21.50 22.00 6.25
Mr. S. Venkatraman (from July 28, 2021) - 21.00 4.70
*Mr. R. Harish Bhat and Mr. Sunil A. D’Souza have not drawn any commission from the Company, as they are full-time employees of other companies
in Tata Group.
Based on the recommendations of the Nomination and Remuneration Committee, the Board of Directors at its meeting held
on July 28, 2021, revised the sitting fees payable to Non-Executive Directors for attending the Board / Committee meetings, as
detailed hereunder:
- For Meetings of the Board, Audit Committee, the Nomination & Remuneration Committee and Meeting of Independent
Directors - `30,000/- per meeting.
- For meetings of Stakeholders’ Relationship Committee, Risk Management Committee and Corporate Social Responsibility
Committee - `20,000/- per meeting.
Prior to the above referred revision, the Company had paid sitting fee of `30,000/- per meeting to the NEDs for attending Meetings
of the Board, Audit Committee and NRC and, `15,000/- for other Committees (except for CSR Committee, as no sitting fee was
being paid for meetings of the said Committee).
The Members had earlier approved payment of Commission to the NEDs within the ceiling of 1% of the net profits of the Company
as computed under the applicable provisions of the Act. The said Commission payable to the NEDs is decided each year by the
Board of Directors and distributed amongst them based on their attendance, role and responsibility as Chairman/ Member of
the Committees and their overall contribution as well as time spent on operational matters otherwise than at the meetings.
The Company also reimburses the out-of-pocket expenses incurred by the NEDs for attending meetings.
b) Managing Director and Executive Director
(` in Lakh)
Name of Managing/Executive Directors Salary Perquisites and Contribution to Commission for Total
Allowance Retiral Funds FY 2021-22
(payable in FY 2022-23)
Mr. Chacko Purackal Thomas, 166.36 21.40 18.73 115.60 322.09
Managing Director & CEO
Mr. K. Venkataramanan, 130.64 9.51 15.07 82.00 237.22
Executive Director – Finance & CFO
The services of the Managing Director and Executive Director may be terminated by either party, giving the other party a six
months’ notice or the Company paying six months’ salary in lieu thereof. There is no provision for payment of severance fees.

5. Stakeholders’ Relationship Committee: Name of the Member Category of No. of No. of

Directors meetings meetings
The Stakeholders’ Relationship Committee has been
held attended
constituted by the Board in compliance with the Dr. P. G. Chengappa – Non-Executive 3
3
requirements of Section 178 (5) of the Act and Regulation 20 Chairman Independent
of the Listing Regulations. Dr. P. G. Chengappa, Independent Mr. Chacko Purackal Managing 3 3
Director is the Chairman of this Committee. Thomas Director & CEO
Mr. K. Venkataramanan Executive 3 3
(I) Brief description of terms of reference Director -
The terms of reference of the Stakeholders Finance & CFO
Relationship Committee (SRC) covers the areas The Committee also oversees the performance of the
mentioned in Section 178 (5) of the Act and Regulation Registrar and Share Transfer Agent and recommends
20 read with Part D (B) of Schedule II to the Listing
measures for overall improvement in the quality of Investors’
Regulations. The terms of reference of the SRC,
service. Mr. N. Anantha Murthy, Head - Legal & Company
inter-alia are as follows:
Secretary is designated as Compliance Officer of the
(a) Resolving the grievances of the security holders Company.
of the Company including complaints related to
transfer/transmission of shares, non-receipt of Details of complaints / queries / requests / other
annual report, non-receipt of declared dividends, correspondence received and attended to during the
issue of new/duplicate certificates, general financial year 2021-22 are given below:
meetings etc;
Queries/Requests/
Complaints
(b) Approve issue of duplicate share certificates Other Correspondence
either at meetings or through circular resolution; No. of complaints / 0 10
queries / requests /
(c) Review of measures taken for effective exercise of other Correspondence
voting rights by shareholders; pending as on April 1,
2021
(d) Review of adherence to the service standards No. of complaints / 11 1208
adopted by the Company in respect of various queries / requests /
services being rendered by the Registrar & Share other Correspondence
Transfer Agent; received during the year
No. of complaints / 11 1163
(e) Frame guidelines for waiver of documents/ queries / requests /
requirements prescribed in cases of: other Correspondence
resolved during the year
a) Transmission of shares No. of complaints / 0 *55
b) Issue of duplicate share certificates queries / requests /
other Correspondence
c) Recording of updation of signatures by pending as on March 31,
shareholders 2022
(f ) Review of the various measures and initiatives *These requests were received in March 2022 and were
taken by the Company for reducing the quantum subsequently addressed.
of unclaimed dividends and ensuring timely
The equity shares of the Company are traded in dematerialized
receipt of dividend warrants/annual reports/
form. During financial year 2021-22, 78 demat requests for
statutory notices by the shareholders of the
dematerialization covering 49690 shares were received and
company;
processed and 7 requests for Transmission of shares covering
(II) Composition of the Committee, attendance of 3900 shares were received and processed.
members at the meeting and other details:
As on March 31, 2022, there was 1 request for transmission
During the financial year 2021-22, the Committee covering 330 shares which was pending and 3 requests for
met three times i.e., on April 28, 2021, October 18, dematerialization covering 1790 shares which were pending.
2021 and January 27, 2022. The composition of the These requests were received in the last week / second
Stakeholders Relationship Committee and the details fortnight of March 2022 respectively and have subsequently
of the meetings attended by its members during the
been processed.
financial year ended March 31, 2022 are as under:

Transfer of Unclaimed/Unpaid Amounts to the Investor 6. Corporate Social Responsibility Committee:
Education and Protection Fund: The Corporate Social Responsibility (CSR) Committee has
In accordance with the provisions of the Act, read with been constituted by the Board in compliance with the
Investor Education Protection Fund Authority (Accounting, requirements of Section 135 of the Act.
Audit, Transfer and Refund) Rules, 2016, as amended (‘Rules’), (I) Brief description of terms of reference The terms of
the dividends, unclaimed for a period of seven years from reference of the CSR Committee are:
the date of transfer to the Unpaid Dividend Account of the a. Formulate and recommend to the Board, a CSR
Company are liable to be transferred to the IEPF. Accordingly, Policy including the Annual Action Plans for CSR
unclaimed dividends of Shareholders for financial year Projects to be undertaken by the Company as
2014-15 lying in the unclaimed dividend account of the specified in Schedule VII to the Act.
Company as on September 2, 2022 will be transferred to IEPF
b. Recommend the amount to be spent on CSR
Account within one month from the said date. Further, the
activities referred to in clause (a).
shares (excluding the disputed cases) pertaining to which
dividend remains unclaimed for a consecutive period of c. Monitor implementation and adherence to the
seven years from the date of transfer of the dividend to the CSR Policy of the Company from time to time.
unpaid dividend account is also required to be transferred to d. Such other activities as the Board of Directors
the IEPF Authority established by the Central Government. determine as they may deem fit in line with CSR
Policy.
As per Rule 6 of Investor Education and Protection Fund
The Board has adopted the CSR Policy as formulated and
Authority (Accounting, Audit, Transfer and Refund) Rules,
recommended by the Committee. The CSR Policy is available
2016 (‘Rules”) read with Section 124 of the Act, intimations
on the website of the Company at the web link: https://
have been sent to shareholders concerned, requesting
tatacoffee.com/sites/default/files/collaterals/investors/csr-
them to encash their unclaimed dividends failing which the
policy-and-actionplans-fy2022-23.pdf. The Annual Report on
unclaimed dividends and the corresponding shares held by
CSR activities for the financial year 2021-22 forms part of the
them shall be transferred to IEPF Authority.
Board’s Report.
The following table gives information relating to outstanding (II) Composition of the Committee, attendance of
dividend accounts and the dates when due for transfer to members at the meeting and other details:
IEPF: During the financial year 2021-22, the Committee met
Financial year Date of Last date Transfer to IEPF two times i.e., on September 15, 2021 and March 21,
ended declaration of for claiming Fund during 2022. Requisite quorum was present at these Meetings.
dividend unpaid The composition of the CSR Committee and the details
dividend of the meetings attended by its members during the
March 31, 2015 August 3, 2015 02-Sep- 2022 October 2022 financial year ended March 31, 2022, are as under:
March 31, 2016 July 26, 2016 25-Aug-2023 October 2023 No. of No. of
Name of the Category of
March 31, 2017 July 17, 2017 16-Aug-2024 September 2024 meetings meetings
Member Directors
attended held^
March 31, 2018 July 2, 2018 01-Aug-2025 September 2025
Ms. Sunalini Menon Non-Executive, 2 2
March 31, 2019 June 3, 2019 02-Jul-2026 August 2026 Chairperson Independent
March 31, 2020 June 29, 2020 28-Jul-2027 September 2027 Mr. V Leeladhar* Non-Executive, 1 1
March 31, 2021 June 14, 2021 13-Jul-2028 August 2028 Independent
Shareholders are requested to get in touch with Registrar and Mr. Siraj Azmat Non-Executive, 1 1
Transfer Agent (RTA) for encashing the unclaimed dividend Chaudhry Independent
amount, if any, standing to the credit of their account. (upto December 6,
2021)
During the financial year 2021-22, the Company has Dr. P. G. Chengappa Non-Executive, 2 2
transferred following amounts and shares to Investor Independent
Education and Protection Fund Authority (IEPF): Mr. Chacko Managing 2 2
Purackal Thomas Director & CEO
Financial year Amount of unclaimed Number of shares
dividend (`) transferred * Ceased to be a member consequent upon his retirement from the Board
2013-14 33,08,344 93,635 of the Company w.e.f. December 6, 2021
Details of shares transferred have been uploaded on the ^ Number of meetings held during the tenure of respective member in the
Company’s website at www.tatacoffee.com. Committee.

7. Risk Management Committee: Name of the Member Category of No. of No. of

The Risk Management Committee of the Company is Directors meetings meetings
attended held^
constituted in line with the provisions of Regulation 21 of the
Listing Regulations. Mr. S. Venkatraman Non-Executive, 2 2
Chairman* Independent
(I) Brief description of terms of reference (w.e.f. December 7, 2021)
The Risk Management Committee of the Board of Mr. Siraj Azmat Non-Executive, 2 2
Directors has been entrusted with the responsibility Chaudhry Independent
(Chairman - upto
to assist the Board in overseeing and approving the December 6, 2021, but
Company’s risk management framework. The Company continue as Member
has a comprehensive Risk Policy and a Risk Register thereafter)
detailing the risks that the Company faces under
Mr. V. Leeladhar** Non-Executive, 1 1
various categories like strategic, financial, commercial, Independent
operational, IT, legal, regulatory, people, reputational
and other risks and these have been identified Dr. P. G. Chengappa Non-Executive, 2 2
Independent
and suitable mitigation measures have also been
formulated. The functions of the Risk Management Ms. Sunalini Menon*** Non-Executive, 1 1
Committee shall inter-alia includes cyber security. Independent
The Risk Management Committee reviews the key risks Mr. Chacko Purackal Managing 2 2
and the Risk Register and the mitigation measures Thomas Director & CEO
periodically.
Mr. K. Venkataramanan Executive 2 2
The role of the Committee are as below: Director-
Finance & CFO
i. Assessing the risk management procedures
relating to identification and evaluation of all *Inducted to the committee w.e.f. July 28, 2021, and appointed as the
types of risks, namely, strategic, operational, legal Chairman of the Committee w.e.f. December 7, 2021
and regulatory, Information systems and external **Ceased to be a member consequent upon his retirement from the Board of
risks that the Company / Group is exposed to; the Company w.e.f. December 6, 2021
ii. Review and oversee the risk management, *** inducted as a member of the Committee w.e.f. December 7, 2021
compliance, and control procedures; ^ Number of meetings held during the tenure of respective member in the
Committee.
iii. Review the risk assessment and mitigation
procedures;
8. Subsidiary Companies:
iv. Recommend to the Board a risk management plan
The Company has a material unlisted Subsidiary as defined
for the Company and monitor the functioning of
the said plan; under Regulation 16 of the Listing Regulations. Accordingly,
the corporate governance requirements as applicable with
v. Determine and finalize the risks that the Company respect to material unlisted subsidiary has been complied
and that of its subsidiaries is exposed to and
with.
review their mitigation measures;
The Company’s Audit Committee reviews the Consolidated
vi. Review the legal compliance system;
Financial Statements of the Company as well as the Financial
vii. Such other terms as the Board may indicate from Statements of the Subsidiaries, including the investments
time to time.
made by the Subsidiaries. The Minutes of the Board Meetings,
(II) Composition of the Committee, attendance of along with a report of the significant transactions and
members at the meeting and other details arrangements of the unlisted subsidiaries of the Company,
During the financial year 2021-22, the Committee met as applicable, are placed before the Board of Directors of the
two times i.e., on September 15, 2021 and March 11, Company.
2022. Requisite quorum was present at these Meetings. The Company has formulated a policy for determining
The composition of the Risk Management Committee Material Subsidiaries and the Policy is disclosed on the
and the details of the meetings attended by its Company’s website at the web link: https://tatacoffee.
Members during the financial year ended March 31, com/sites/default/files/collaterals/investors/Policy_for_
2022, are as under: determining_Material_Subsidiary.pdf

9. General Body Meetings: 10. Means of Communication:
i. Location and time, where last three AGMs were (a) Financial Results
held: The quarterly and annual financial results of the
Company are uploaded on NSE Electronic Application
The last three Annual General Meetings of the Company
Processing System (NEAPS) and BSE Listing Centre
were held as under:
in accordance with the requirements of Listing
Year Date & Time of Meeting Venue Regulations. The financial results are displayed on
2018-19 June 3, 2019 Registered Office : BSE and NSE websites. The financial results are also
at 11:00 AM Pollibetta – 571215, published in ‘The Business Line’ (English) and ‘Kannada
Kodagu
2019-20 June 29, 2020
Prabha’ (Kannada) newspapers and posted on the
Meeting held through
at 11:00 AM Video Conferencing Company’s website at www.tatacoffee.com. In terms of
(“VC”)/ other Audio- Visual the Listing Regulations, the Company has a designated
Means(“OAVM”) email ID for dealing with Investors’ complaints viz.,
2020-21 June 14, 2021 Meeting held through [email protected].
at 11:00 AM Video Conferencing
(“VC”)/ other Audio- Visual (b) Annual Report
Means(“OAVM”) Pursuant to the MCA circulars and SEBI Circulars, the
ii. Whether any special resolutions passed in the previous Annual Report for FY 2021-22 containing the Notice of
three AGMs – Three Special Resolutions were passed AGM was sent through e-mails to all those Members
at the AGM held on June 29, 2020, with regard to whose e-mail IDs were registered with the Company/
re-appointment of Ms. Sunalini Menon (DIN: 06983334), Depository Participants.
Mr. V Leeladhar (DIN: 02630276) and Mr. Siraj Azmat (c) Press Release/ Analyst Call
Chaudhry (DIN: 00161853) as Independent Directors The official media releases and presentations made to
of the Company for a second term of office. No Special Institutional Investors / Analysts and audio recording
Resolutions were passed at the AGMs held on June 3, of Analyst Calls, and transcripts are posted on the
2019 and June 14, 2021. Company’s website.
iii. Whether any Special Resolution passed last year
(d) Communication related to Dividend and updation
through postal ballot and details of voting pattern - No
of records
special resolution was passed through postal ballot in
The Company issues various reminder letters to
the last year.
Stakeholders whose dividend is outstanding and those
iv. Person who conducted the postal ballot exercise - Not whose shares are liable to transfer to IEPF. The Company
Applicable has issued letters to the shareholders asking to update
v. Whether any special resolution is proposed to be conducted their KYC.
through postal ballot – At present, there is no proposal to
pass any special resolution through Postal Ballot.
vi. Procedure for Postal Ballot – Not Applicable

11. General Shareholder information:

I. AGM: Date Monday, June 20, 2022
Time and 11.00 A.M
Venue The Company is conducting AGM through VC / OAVM pursuant to the MCA General Circular No.21/2021
dated December 14, 2021 read with circulars dated April 8, 2020, April 13, 2020 and May 5, 2020 (collectively
referred to as “MCA Circulars”) and as such there is no requirement to have a venue for the AGM. For details,
please refer to the Notice of this AGM.
II. Financial Calendar Board Meetings for approval of:
(tentative) Financial Results for the first quarter ending June 30, 2022 Before August 14, 2022
Financial Results for the second quarter ending September 30, 2022 Before November 14, 2022
Financial Results for the third quarter ending December 31, 2022 Before February 14, 2023
Annual Accounts for financial year 2022-2023 In April / May 2023
Annual General Meeting for the year ending March 31, 2023 In June/July 2023
III. Dates of Book Closure June 4, 2022 to June 13, 2022 (both days inclusive)
IV. Dividend Payment Date The Dividend, if declared at AGM, will be paid on or after June 23, 2022.
V Listing on BSE Ltd. National Stock Exchange of India Ltd.
Stock Exchanges and Phiroze Jeejeebhoy Towers, Dalal Street Exchange Plaza, C-1, Block G
Stock Code Mumbai - 400 001 Bandra Kurla Complex, Bandra (E)
Tel: 022-22721233/34; Fax: 022-22721919 Mumbai – 400 051
Stock Code: 532301 Tel No: (022) 26598100-14 / 66418100
Fax No: (022) 26598120
Stock Code: TATACOFFEE
The Company has paid Listing Fees for the financial year 2022 - 23 to each of the Stock Exchanges, where the equity shares of the Company are
listed.
VI. Market Price Data: High and Low during each month in the financial year 2021 -22:
BSE Ltd. National Stock Exchange of India Ltd.

Month High Low No. of High Low No. of
Shares traded Shares traded
April, 2021 139.70 113.80 6629112 139.85 114.00 55603143
May, 2021 188.55 127.80 16045528 188.60 127.40 184770886
June, 2021 193.45 168.05 7318654 193.40 168.00 70673553
July, 2021 246.75 182.05 13680498 246.70 182.15 153341342
August, 2021 216.95 178.90 8182152 216.95 178.60 76779260
September, 2021 216.95 197.30 4491617 217.00 197.30 43101776
October, 2021 254.00 200.70 9429370 254.40 200.70 90514303
November, 2021 232.20 192.40 3447534 231.95 192.15 38108150
December, 2021 221.85 190.60 3077826 222.00 190.30 34976871
January, 2022 225.70 201.45 3077758 225.70 200.00 37933625
February, 2022 221.70 181.70 2212991 221.65 181.65 19311349
March, 2022 221.60 182.25 3659974 221.90 182.15 35775798

VII. Performance of the Company’s equity shares (closing share price) in comparison to BSE Sensex and NSE Nifty during the
financial year 2021-22:
Movement of Share Price on BSE
240 62000
60000
220 58000
56000
200
54000
180 52000
50000
160 48000
46000
140
Share Price
44000
Sensex
42000
120
40000
100 38000
36000
80 34000
32000
60 30000
28000
40
26000
20 24000
22000
0 20000
Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22
Share Price Sensex
Movement of Share Price on NSE
20000
240
220 18000
200
16000
180
160
14000
NIFTY 50
140
Share Price
12000
120
100
10000
80
60 8000
40
6000
20
0 4000
Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22
Share Price NIFTY 50

VIII. Name of the Depository with whom the Company has entered into Agreement: ISIN Number
1. National Securities Depository Limited INE493A01027
2. Central Depository Services (India) Limited INE493A01027
IX. Registrar and Share Transfer Agent:
Share Transfer System:
Share transfers, dividend payments and all other investor related activities are attended to and processed at the Office of the Company’s
Registrar and Share Transfer Agent. For lodgment of transfer deeds and any other documents or for any grievances/complaints, kindly contact
any of the offices of TSR Consultants Private Limited which are open from 10.00 a.m. to 3.30 p.m. between Monday to Friday (except on bank
holidays).
Share Transfer Physical System:
As per directives issued by SEBI, it is compulsory to trade in the Company’s equity shares in dematerialized form. Effective April 1, 2019, transfer of
shares in physical form has ceased. Shareholders who had lodged their request for transfer prior to March 31, 2019 and, have received the same
under objection can relodge the transfer request after rectification of the documents. Request for transmission of shares and dematerialization
of shares will continue to be accepted.
Dematerialization of Shares and Liquidity:
The process of conversion of shares from physical form to electronic form is known as dematerialization. For dematerializing the shares, the
Shareholder has to open a demat account with a Depository Participant (DP). The Shareholder is required to fill in a Demat Request Form and
submit the same along with the Share Certificate(s) to the DP. The DP will allocate a demat request number and shall forward the request
physically and electronically, through NSDL/CDSL to the R&T Agent. On receipt of the demat request, both physically and electronically and
after verification, the Shares are dematerialized, and an electronic credit of shares is given in the account of the Shareholder.
TSR Consultants Private Limited
Registered Office
TSR Consultants Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli (West)
Mumbai - 400 083
Tel: +91-22-66568484, Fax: +91-22-66568494
Email : [email protected]
Website : https://www.tcplindia.co.in
Collection centers Jamshedpur:
Mumbai: TSR Consultants Private Limited
TSR Consultants Private Limited Bungalow No. 1, ‘E’ Road
Building 17/19, Office No. 415 Rex Chambers Northern Town Bistupur
Ballard Estate, Walchand Hirachand Marg Jamshedpur - 831 001
Fort, Mumbai - 400 001 Tel: +91-657-2426937
Tel: +91 73048 74606 Email : [email protected]
Kolkata: New Delhi:
TSR Consultants Private Limited TSR Consultants Private Limited
C/o Link Intime India Private Limited C/o Link Intime India Private Limited
Vaishno Chamber, Noble Heights, 1st Floor
Flat No. 502 & 503 Plot No NH-2, C-1 Block, LSC
5th Floor, 6, Brabourne Road Near Savitri Market, Janakpuri
Kolkata - 700 001 New Delhi - 110 058
Tel: +91-33-40081986 Tel: +91-11-49411030
Email : [email protected] Email : [email protected]
Bangalore Ahmedabad
TSR Consultants Private Limited TSR Consultants Private Limited
C/o. Mr. D. Nagendra Rao C/o Link India Intime Private Limited
“Vaghdevi” 543/A, 7th Main Amarnath Business Centre-1 (ABC-1)
3rd Cross, Hanumanthnagar Beside Gala Business Centre, Off. C. G. Road, Ellisbridge
Bengaluru - 560 019 Ahmedabad - 380 006
Tel: +91-80-26509004 Tel: +91-79-26465179
Email : [email protected] Email : [email protected]

Shareholders’ Relations Cell
Contact Person Address Contact details

Mr. N Anantha Murthy Tata Coffee Limited Tel: + 91 80 23561976/81
Head - Legal & Company Secretary No. 57, Railway Parallel Road Fax: + 91 80 23341843
Kumara Park West e-mail ID.: [email protected]
Bangalore - 560 020 website: www.tatacoffee.com
X. Distribution of Shareholding as on March 31, 2022:

No. of Equity Shares No. of Shareholders % to Shareholders No. of Shares % of Shares
1 – 500 260428 93.81 19579320 10.48
501 - 1000 9038 3.26 7375930 3.95
1001 - 2000 4081 1.47 6290805 3.37
2001 - 3000 1354 0.49 3519077 1.88
3001 - 4000 587 0.21 2129105 1.14
4001 - 5000 562 0.20 2663439 1.43
5001 - 10000 836 0.30 6222053 3.33
10001 & above 718 0.26 138990641 74.42
TOTAL 2,77,604 100.00 18,67,70,370 100.00
XI. Category-wise Shareholders as on March 31, 2022:
Sl. No. Category of Shareholders No. of Shares Percentage

1 FII/Foreign Companies 13,34,913 0.71
2 Non-Resident Individuals 20,37,279 1.10
3 Financial Institutions & Banks 1,18,460 0.06
4 Mutual Funds 27,10,736 1.45
5 Holding Company - Tata Consumer Products Limited [formerly known as Tata 10,73,59,820 57.48
Global Beverages Limited]
6 Other Bodies Corporate 1,04,84,284 5.61
7 IEPF Account 17,07,934 0.91
8 Resident Individuals 6,10,16,944 32.68
TOTAL 18,67,70,370 100.00
Categories of Shareholders as on March 31, 2022

1.10
0.71
0.06
1.45
32.68 FII/Foreign Companies 0.71

Non-Resident Individuals 1.10
Financial Institutions & Banks 0.06
57.48 Mutual Funds 1.45
Tata Consumer Products Limited 57.48
Other Bodies Corporate 5.61
IEPF Account 0.91
0.91 Resident Individuals 32.68
5.61

XII. Shares in Physical and Demat form as on March 31, 2022: No. of Shares Percentage
In Physical Form 3133140 1.68
In Dematerialized Form 183637230 98.32
Total 186770370 100
XIII. No. of shareholders whose shares as on March 31, 2022 No. of Percentage
are in Physical and Demat form: Shareholders
In Physical Form 4764 1.72
In Dematerialized Form 272840 98.28
Total 277604 100
XIV. Outstanding GDRs/ADRs/Warrants or any Convertible instruments, conversion date and likely impact on equity: Nil
XV. Plant Locations:
17 Coffee Estates in Kodagu, Hassan and Chickmagalur District
1 Tea Estate in Kodagu District and State of Karnataka
1 Tea and Coffee (mixed) in Chickmagalur District
4 Tea Estates in Pachaimallai, Pannimade, Uralikal & Velonie and 1 Coffee Estate in Valparai State of Tamil Nadu
1 Tea Estate in Malakiparai State of Kerala
Curing Works, R&G factory and Pepper processing Unit in Kudige, Kushalnagar State of Karnataka
1 Instant Coffee Plant at Brahmanpally Village, Toopran State of Telangana
1 Instant Coffee Plant at Jeyamangalam Village, Theni State of Tamil Nadu
XVI. Address for correspondence: As stated in 11 (IX) above

XVII. The Company has not issued any global depository receipts or American depository receipts. There are no warrants or any convertible instruments
outstanding as on March 31, 2022.
XVIII. The details of credit rating of the Company as at March 31, 2022 is given below:
Instrument(s) Amount (` In Crore) Rating

Fund-based Bank Facilities 150.00 [ICRA]AA+(Stable)
Commercial Paper 30.00 [ICRA]A1+
Total 180.00
12. Other disclosures: b. Declaration of compliance by the Company

a. Related Party Transactions: The Company has complied with the requirements of
the Stock Exchanges / SEBI and Statutory Authorities
All transactions entered into by the Company with on all matters related to the capital markets during the
related parties as defined under the Act and the last three years. No penalty or strictures were imposed
Listing Regulations, during the financial year 2021-22 on the Company by any of these authorities. None of
were in the ordinary course of business and on arm’s the Company’s listed securities were suspended from
length pricing basis and do not attract the provisions of trading during the financial year 2021-22.
Section 188 of the Act. There were no materially c. Establishment of Vigil mechanism, Whistle blower
significant transactions with the related parties policy
during the financial year which were in conflict with The Company has adopted a Whistle Blower Policy and
the interests of the Company. Necessary disclosures has established necessary Vigil Mechanism as required
as required under the Accounting Standards have under Regulation 22 of the Listing Regulations for
been made in the Financial Statements. The Board Directors and employees to report concerns about
has approved a policy on materiality of related any unethical behavior. No person has been denied
party transactions and on dealing with related party access to the Chairman of the Audit Committee. The
transactions and the same is disclosed on the website said policy has also been disclosed on the website of
of the Company at the link https://tatacoffee.com/ the Company at the link https://tatacoffee.com/sites/
sites/default/files/collaterals/investors/related-party- default/files/collaterals/investors/Whistle_Blower_
transaction-policy-april2022.pdf Policy_24032022.pdf

d. Details of compliance with mandatory requirements used Forward Exchange Contracts to hedge against
and adoption of the non-mandatory requirements its Foreign Currency exposures relating to firm
The Company has complied with all the mandatory commitments. There were no materially uncovered
requirements of the Listing Regulations. The Company exchange rate risks in the context of the Company’s
has also adopted the following discretionary Foreign Exchange exposures.
requirements as provided in the Listing Regulations: The Company’s exposure to market risks for
(i) The Chairman of the Board is a Non-Executive commodities and currencies are detailed in Note No. 38
Director and his position is separate from that of under the head ‘Financial Risk Management Framework’,
the Managing Director & CEO. forming part of Notes to Financial Statements.
(ii) The Internal Auditor reports to the Audit h. During the financial year 2021-22, the Board has
Committee. accepted all the recommendations of its Committees.
(iii) The financial statements of the Company are with i. The Company has followed all relevant Accounting
unmodified audit opinion. Standards notified by the Companies (Indian
Accounting Standards) Rules, 2015 while preparing
e. The policy to determine a material subsidiary has been Financial Statements for the financial year 2021-22.
framed and the same is disclosed on the Company’s
website at the link https://tatacoffee.com/sites/default/ j. Disclosure with respect to demat suspense account/
files/collaterals/investors/Policy_for_determining_ unclaimed suspense account: Not applicable.
Material_Subsidiary.pdf k. The Company has duly complied with the requirements
f. Commodity price risk, foreign exchange risk and specified in Regulations 17 to 27 and Clauses (b) to (i)
hedging activities: Commodities inventory form a of sub-regulation (2) of Regulation 46 of the Listing
major part of business of the Company and hence Regulations.
Commodity price risk is one of the important risks for l. Particulars of Directors seeking appointment /
the Company. Your Company has a robust framework re-appointment at the ensuing Annual General
in place to protect the Company’s interests from risks Meeting have been provided in the Notice of the
arising out of market volatility. The Risk Management Annual General Meeting.
Team, based on market intelligence and continuous m. During the year under review, the Company did not
monitoring, advises the sales and procurement teams raise any funds through preferential allotment or
on appropriate strategy to deal with such market qualified institutions placement as specified under
volatility. Regulation 32(7A) of the SEBI Listing Regulations.
(i) The Risk Management Policy of the Company with n. Total fees for all services paid by the Company and its
respect to commodities including hedging has subsidiaries, on a consolidated basis, to the statutory
been framed. auditor and all entities in the network firm/network
(ii) Commodity risks faced by the Company during entity of which the statutory auditor is a part is given
the year and how they have been managed: below:
The Plantation exposure of Green Beans consisting ` in Lakh
of Arabica and Robusta grades, export pricing
Payment to Statutory Auditors FY 2021-22
is directly linked to exchange terminals traded
in ICE (Inter Continental Exchange). A decline in Audit Fees 323.00
exchange traded value results in a decline in the Tax Audit Fees 15.00
realization, hence a prudent hedge methodology Other Services (including Quarterly 49.38
is adopted. Risk Manager has been specifically Audit Fees)
appointed to execute hedge based on the Risk Reimbursement of expenses 1.50
Management Policy approved by the Board and
Total 388.88
that the commodity / hedging risk is monitored
appropriately. o. Disclosures in relation to the Sexual Harassment of
Women at Workplace (Prevention, Prohibition and
(iii) Mr. K. Venkataramanan, Executive Director- Redressal) Act, 2013:
Finance & CFO, continuously monitors the
foreign exchange risk management strategy and Number of complaints filed during the financial 5
commodity risk management strategy in light of year 2021-22
dynamic market conditions. Number of complaints disposed of during the 5
g. The Company has managed the Foreign Exchange financial year 2021-22
risk with appropriate hedging activities in accordance Number of complaints pending as on end of the Nil
with the policies of the Company. The Company financial year

p. The Managing Director & CEO and the Chief Financial q. Certificate on Corporate Governance:
Officer have certified to the Board in accordance All the Directors of the Company have submitted
with Regulation 33(2)(a) of the Listing Regulations a declaration stating that they are not debarred or
pertaining to CEO/CFO certification for the financial disqualified by the Securities and Exchange Board
year ended March 31, 2022. The MD & CEO and Chief of India / Ministry of Corporate Affairs or any such
Statutory Authority from being appointed or continuing
Financial Officer have also issued compliance certificate
as Directors of Companies. Mr. V. Madan (ACS 5048,
to the Board pursuant to the provisions of Regulation CP 21778), Practicing Company Secretary, has
17(8) of the Listing Regulations certifying that the submitted a certificate to this effect.
financial statements do not contain any materially A compliance certificate from Mr. V Madan (ACS 5048,
untrue statement and these statements represent a CP 21778), Practicing Company Secretary, pursuant
true and fair view of the Company’s affairs. The said to the requirements of Schedule V to the Listing
Certificate is annexed and forms part of the Annual Regulations regarding compliance of conditions of
Report. Corporate Governance is attached.
DECLARATION BY THE CEO ON CODE OF CONDUCT AS REQUIRED BY SCHEDULE V OF SECURITIES AND

EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS,
2015
I, Chacko Purackal Thomas, Managing Director and CEO of the Company hereby declare that all the members of Board of Directors
and Senior Management Personnel have affirmed compliance with Code of Conduct, as applicable to them, in respect of the financial
year 2021-22.
Chacko Purackal Thomas

Managing Director & CEO
Place: Bengaluru DIN: 05215974
Date: April 26, 2022
PRACTISING COMPANY SECRETARY’S CERTIFICATE ON CORPORATE GOVERNANCE

To,
The Members
Tata Coffee Limited,
I have examined the compliance of the conditions of Corporate Governance by Tata Coffee Limited (‘the Company’) for the year
ended March 31, 2022, as stipulated in the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (‘the Listing Regulations).
The compliance of the conditions of Corporate Governance is the responsibility of the management. My examination was limited to a
review of procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of Corporate
Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
In my opinion and to the best of my information and according to the explanations given to me, and the representations made by
the Directors and the Management and considering the relaxations granted by the Ministry of Corporate Affairs (MCA) and Securities
and Exchange Board of India (SEBI) in the light of COVID-19 situation, I certify that the Company has complied with the conditions of
Corporate Governance as stipulated in the Listing Regulations during the year ended March 31, 2022.
I state that such compliance is neither an assurance as to the future viability of the Company nor of the efficiency or effectiveness with
which the management has conducted the affairs of the Company.
V Madan
Practicing Company Secretary
ACS No. 5048
CP No. 21778
Place: Bengaluru UDIN: A005048D000212552
Date: April 26,2022

CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS
(pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015)
To,
The Members
Tata Coffee Limited
Pollibetta – 571215, Kodagu
I have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Tata Coffee Limited having
CIN L01131KA1943PLC000833 and having registered office at Pollibetta – 571215, Kodagu (hereinafter referred to as ‘the Company’),
produced before me by the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule
V Para-C Sub clause 10(i) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In my opinion and to the best of my information and according to the verifications (including Directors Identification Number (DIN)
status at the portal www.mca.gov.in) as considered necessary and explanations furnished to me by the Company & its officers, I hereby
certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending on March 31, 2022 have
been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and Exchange Board of
India, Ministry of Corporate Affairs or any such other Statutory Authority.
Sr. No. Name of Director DIN Date of appointment in

the Company
1 Mr. R. Harish Bhat 00478198 27.07.2012
2 Mr. Sunil A. D’souza 07194259 05.05.2020
3 Mr. V. Leeladhar* 02630276 22.12.2014
4 Mr. S. Venkatraman** 00246012 28.07.2021
5 Ms. Sunalini Menon 06983334 23.09.2014
6 Mr. Siraj Azmat Chaudhry 00161853 15.05.2015
7 Dr. P. G. Chengappa 06771287 18.05.2017
8 Mr. Chacko Purackal Thomas 05215974 04.08.2015
9 Mr. K. Venkataramanan 01728072 25.10.2014
*Mr. V. Leeladhar (DIN 02630276) retired from the Board w.e.f. the close of business hours on December 6, 2021.
**Mr. S. Venkatraman (DIN: 00246012), was inducted as a Non-Executive Independent Director on the Board w.e.f. July 28, 2021.
Ensuring the eligibility for the appointment / continuity of every Director on the Board is the responsibility of the management of the
Company. My responsibility is to express an opinion on these based on my verification. This certificate is neither an assurance as to
the future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the affairs of the
Company.
V Madan
Practicing Company Secretary
ACS No. 5048
CP No. 21778
Place: Bengaluru UDIN: A005048D000212662
Date: April 26,2022

CEO /CFO Certification in respect of Financial Statements and Cash Flow Statement
(Pursuant to Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 for the financial year ended March 31, 2022
To,
The Board of Directors
Tata Coffee Limited
We have reviewed the Financial Statements and the Cash Flow Statement for the financial year ended March 31, 2022 and we hereby
certify and confirm to the best of our knowledge and belief the following:
a. The Financial Statements and Cash Flow statement do not contain any materially untrue statement or omit any material fact or
contain statements that might be misleading;
b. The Financial Statements and the Cash Flow Statement together present a true and fair view of the affairs of the Company and are
in compliance with existing accounting standards, applicable laws and regulations;
c. There are no transactions entered in to by the Company during the year ended March 31, 2022 which are fraudulent, illegal or
violative of Company’s Code of Conduct;
d. We accept responsibility for establishing and maintaining internal controls for Financial Reporting and we have evaluated the
effectiveness of these internal control systems of the Company pertaining to financial reporting. Deficiencies noted, if any, are
discussed with the Auditors and Audit Committee, as appropriate, and suitable actions are taken to rectify the same;
e. There have been no significant changes in the above-mentioned internal controls over financial reporting during the
financial year 2021-22;
f. That there have been no significant changes in the accounting policies during the financial year 2021-22.
g. We have not noticed any significant fraud particularly those involving the, management or an employee having a significant role
in the Company’s internal control system over Financial Reporting.
Place: Bengaluru K. Venkataramanan Chacko Purackal Thomas

Date: April 26,2022 Executive Director Finance & CFO Managing Director & CEO

Management Discussion and Analysis Report
A) Industry structure and developments Tea

Coffee India is the second largest producer of tea globally, after
China, with ~1,300 million kgs of tea produced annually in the
According to the estimates of the International Coffee
country. As a leading consumer of the beverage, India also
Organisation (ICO), for the coffee year 2021-22, global
production is at 167.17 million bags, a 2.1% decrease as accounts for nearly a fifth of the global consumption while
compared to 170.83 million bags during the previous coffee almost 80% of its total output is consumed domestically.
year. Arabica production is at 93.97 million bags, lower by North India is the leading tea producer of the country,
7% from that of last year and Robusta production is at 73.20 accounting for over three-fourths of the industry, while
million bags, up by 5% vis-à-vis last coffee year. South India accounts for a fifth. By type, Black Tea makes
The World coffee consumption is projected to grow by 3.3%, for the largest produce. In terms of processing, the market
to 170.3 million in FY 2021-22, as compared to 164.9 million is mainly divided into CTC and Orthodox, with the former
for the preceding coffee year. accounting for 90% of the production, and the latter 8.6%.
The remaining varieties are Green Tea and Specialty Tea.
In FY 2021-22, consumption is expected to exceed
production by 3.1 million bags. Supply and demand trends During the year under review, India’s tea production volume
may be affected by the downturn in the world economy, increased by 4% while the sales average of tea reduced by
increased cost of inputs and production as well as import 13.2%, vis-à-vis the previous year. The decline in exports
and consumption fluctuations due to the ongoing conflict in from 30-40 million kgs as compared to calendar year 2020,
Ukraine. was due to the availability of low-cost varieties in the
global market and trade restrictions in countries that have
The New York [Intercontinental Exchange (ICE)] May terminal,
traditionally been strong importers. COVID-19 induced an
representing Arabica settled at 226.40 c/lb on March 31,
economic downturn across the globe, leading to falling
2022, as compared to 123.50 c/lb for the same period on
shipments rates. It was further exacerbated due to acute
March 31, 2021.
shortage of containers, leading to an unprecedented
As on March 2022, the London Robusta May futures was increase in international container rates.
settled at $2,165/MT as compared to $1,342/MT for the same
period on March 31, 2021. Sri Lanka, which is the largest exporter of Orthodox teas
globally, accounting for ~50% of global trade, was impacted
Pepper in recent months due to the withdrawal of the use of
Pepper, extensively cultivated along the tropical belt, is native chemical fertilisers around mid-2021. The current economic
to south India. Until the 18th century, pepper’s cultivation, crisis in Sri Lanka is also likely to impact the production and
and production were limited to India, as it was an important costs in the calendar year 2022.
agricultural commodity of commerce and trade, with Kerala In the international market, Orthodox tea supplies from
contributing a major share. Since then, pepper cultivation India directly compete with the low grown Orthodox tea in
has been taken up on a commercial scale by several nations, Sri Lanka, which accounts for ~65% of the total production.
including Vietnam, Brazil, Indonesia, and Malaysia.
Important common markets are CIS (mainly Russia), Iran and
At present, Vietnam is the world’s largest pepper producer the UAE. With production in Sri Lanka likely to be impacted,
(38%) followed by Brazil (16%), Indonesia (14%) and Indian Orthodox players have bagged the opportunity to
India (11%). Except India, all these countries resort to increase exports in the current year.
monocropping of pepper, and the vine grows up to 6 metres
Instant Coffee
height. On the contrary, in India, pepper is intercropped on
the shade trees of coffee, tea and minor crops such as Areca The global Instant Coffee market is estimated to be growing
nut and coconut, without any restriction on vine height. at 2% annually for the next five years, fueled by increasing
India’s pepper, widely known for its quality, pungency and popularity of coffee across consumption formats.
taste has created its own niche in the international market. During FY 2021-22, trade flows were disrupted due to ocean
As per industry sources, India’s pepper production was freight surges, non-availability of shipping containers, and
66,000 MT in 2021 and is expected to be about 56,000 MT unprecedented increase in energy and packing material
in 2022. During the year, India’s local pepper prices were at costs. The resultant increase in costs is beginning to influence
₹524/kg. consumption buying behavior across markets.

B) Opportunities is particularly sharp in Vietnam and India which is a challenge

Green Beans, Instant Coffee and Pepper to our global competitiveness.
Global economies are in varying stages of recovery, following On the origin side, Brazil continues to be an extremely
the recurrent waves of the pandemic. The emphasis on competitive coffee source – both instant and green coffee
driven by their increasing Robusta crop and a weaker
food safety and sustainability is more pronounced, and the
currency advantage.
Company believes that it is well-positioned to serve the
trend, given the quality of its customer base, the assets, and Ecological concerns and responsive measures
the capabilities available within the company. The entire plantation industry is dependent on nature,
We believe that our efforts in converting prospective making it susceptible to climatic parameters. The major
customers and entering new geographies along with weather factors that influence coffee yield are rainfall,
strengthening our diverse product portfolio further will help temperature, light intensity, and relative humidity. As the
to ward off risks. plantations are susceptible to vagaries of weather, the
Company has mitigated this dependency by irrigating its
To add to this, a significant portion of our business comes
Robusta areas. All the estates are equipped to irrigate their
through relationships with some of the biggest names
whole area of Robusta for blossom, and black pepper vine
in instant coffee – brand owners and importers – who
population. White stem borer in Arabica, which is a major
continue to be well positioned and have tided through
threat across plantations, is monitored by tracing to keep
such commodity cycles in the past. These relationships, we
the pest under check and below the threshold. Various
believe, will hold us in good stead.
initiatives are undertaken by the R&D team, to overcome
As markets progressively open and travel commences, pest infestation.
demand from institutional and food service industries will
The Company has been increasingly focusing on labour
provide a further fillip to the instant coffee industry. optimisation initiatives, and mechanisation of critical cultural
Monsooned Coffee operations to achieve better operational efficiency. Efforts to
Monsooned coffee is the Company’s premium product retain the Company’s workforce has also been stepped up.
offering. The Company’s facility, situated in Mangalore, on The encroachment of wild animals into plantations is an
the western coast of India, experiences favourable ambient ongoing concern. The Company has taken effective measures
climatic conditions, which enable the production of to minimise man-animal conflict. The Company’s Wildlife Cell
Monsooned Malabar, a ‘Geographical Indication’ (GI) tagged has been conducting regular awareness programmes across
product. all estates to ensure that systems are in place to track the
During FY 2021-22, despite the pandemic, the Company movement of wild animals and support workers’ safety.
serviced its customers well and on time across markets, by
leveraging production expertise and flexible operations. D) Performance by major products
(₹ in Lakh)
The Monsooning Unit is well prepared to boost operations
and enhance quality, with the installation of state-of-the-art Particulars FY 2021-22 FY 2020-21
technologies, including digital capabilities for the upcoming Coffee 21239 20255
seasons. Pepper 3193 2568
Plantations - Tea Tea 6433 9085
The Company’s estates, supported by advanced facilities, Instant Coffee 44997 36090
produce CTC, Orthodox and Specialty Tea. The estates are Others [Plantations Allied/Roast 5827 5666
certified with Rain Forest Alliance, Trustea, SA 8000 and & Ground/Inter Unit Transfers]
Ethical Tea Partnership. Superior quality tea continues to Total Revenue from Operations 81689 73664
command good prices. Orthodox prices are likely to be
bullish in the near term, due to the ongoing crisis in Sri Lanka. E) Outlook
Green Beans and Instant Coffee
C) Risks, concerns, and threats
The Company has major production of premium
With several countries in the European Union still struggling differentiated coffees. It has undertaken a host of initiatives
with the pandemic and given the large traditional reliance to produce micro lot coffees in substantial quantities,
of Indian coffees on these markets, we foresee a concern nurtured by a combination of flora and fauna with distinctive
on short term liquidity for certain types of coffees which soil conditions, and elevation that influences the intrinsic
are aimed at these markets. Additionally, a rebound in quality of the beans.
geographies like Russia and Japan, is critical for sustaining
instant coffee sales. The Company’s focus remains on the following parameters:
There is an emergence of inflation be it input costs –  Premium differentiated coffee
spanning across packing material, fuel and ocean freights  Improve irrigation capability by channelizing rainwater
which is a cause of concern to us. The spike in ocean freights flow to irrigation tanks

 Adhering to timely harvest schedule, with a skilled The demand for tea in the Middle East and Africa (MEA) is
picking workforce achieved by monitoring the brix expected to proliferate. Countries such as Turkey and Iran are
meter reading, to enhance inherent quality attributes some of the leading consumers globally.
and productivity Good liquoring CTC teas will continue to rule the market.
 Aligning to plantation certifications and standard South Indian Orthodox is set to remain bullish for well-made
requirements, which are based on eco-friendly teas.
practices
F) Internal control systems and their adequacy
The increase in costs of raw material, packing material,
overheads and energy is leading to market challenges, even The Company has laid down procedures and control
as consumers reconcile to enhanced costs. The freights from framework for the governance of orderly and efficient
Vietnam and India would play a key role in determining conduct of its business, including adherence to policies,
liquidity for our instant and green coffees in this financial safeguarding of assets, prevention and detection of fraud
year. and errors, accuracy and completeness of accounting
records and timely preparation of reliable financial reports.
The Company will continue to focus on emerging markets, These include regulations in manual or automated (ERP
development of new products and packaging formats, applications including other IT applications, wherein
moving towards renewable energy, to provide value to its transactions are approved and recorded). Appropriate
customers. review and control mechanisms are one of our mandates
Pepper in ensuring that such control systems are adequate and are
operating effectively on an ongoing basis. The Company
The Company practices a scientific production culture to
is responsible for establishing and maintaining optimal
produce premium quality pepper. Pepper in the Company’s internal controls in preparation and presentation of financial
estates is cultivated using native shade trees as natural statements, including assertions on the internal financial
standards for pepper vines. Contemporary pepper nurseries controls.
were introduced across the estates to ensure different
varieties of pepper, suited for the location, and boost yield. Evaluation framework
 The Company’s exclusive pepper vertical team is The operating management has analysed the effectiveness
working on the following: of the Company’s internal control over financial reporting
as on March 31, 2022. M/s. Deloitte Haskins & Sells LLP, the
 Pepper cultivation practices with short- and long-term Statutory Auditors, have audited the financial statements
plans included in this Annual Report and issued their report on
 Focused customer priority in the domestic and internal control over financial reporting (as defined under
international market Section 143 of the Companies Act, 2013).
 Maximized primary grade by harvesting at the right The Company has a collaboration of in-house and outsourced
stage of maturity internal auditors who report to the Audit Committee, thereby
maintaining its objectivity. The internal audit plan is approved
 Upgrades in the processing and grading unit by the Audit Committee and the Internal Auditors directly
Tea present their report to the committee for its consideration.
The Indian tea market is expected to exhibit a CAGR of 4.5% The Audit Committee, comprising Independent Directors,
in the period between 2022 and 2027. reviews issues raised by the Internal and Statutory Auditors
and the status of rectification measures regularly, to ensure
India is among the largest producers and consumers of tea that risks are addressed and mitigated appropriately and in a
globally. The increasing consumer preference for premium timely manner.
and packaged tea brands is accelerating market growth.
The Audit Committee meets the Company’s Statutory
Growing consumer awareness regarding the health and
Auditors to determine, inter alia, their views on the
medicinal benefits of organic and Green Tea variants are also
adequacy of internal control systems and keeps the Board of
contributing to market growth.
Directors informed of their major observations periodically.
Over the recent years, the out-of-home market for tea has Based on its evaluation (as provided under Section 177
been expanding as various tea lounges have mushroomed of the Companies Act, 2013 and Clause 18 of SEBI Listing
across the globe. Proliferating online retail channels are Regulations), the Audit Committee concluded that as on
anticipated to drive market growth, with 5.9% CAGR over the March 31, 2022, the internal financial controls were adequate
forecast period. The popularity of online apps, coupled with and operating effectively.
the availability of discounts, and easy product delivery has
benefited the market’s supply chain. This factor is expected G) Business excellence
to bode well for the growth of the segment over the forecast The year under review posed various business challenges,
period. which the Company successfully mitigated, by engaging

employees in various engagement initiatives and process K) Human assets and industrial relations
improvement strategies across the organisation.
The workforce strength of the Company as on March 31,
During the year, the Company continued to focus on 2022, stood at 6,121 permanent employees, including 153
operational excellence initiatives across business units management staff across different locations. The Company
through Lean Six Sigma, Canvas projects, and process maintained harmonious industrial relations across all its
improvements through cross-functional team approach. units during FY 2021-22.
These initiatives have significantly improved operational Capacity building programmes
performance for capacity utilisation, and rationalised
resource consumption, including natural resources. The The Company is building capabilities for its workforce,
through adoption of specific and targeted interventions
Company has formalised a 3-tier improvement philosophy,
across diverse categories. With respect to the Management
promoting total employee involvement, and driving strategic
staff cadre, the Company is running development
options in a holistic manner. The Company has strengthened
programmes in partnership with Tata Management
its improvement framework by introducing various tools
Development Centre and in-house training programmes,
like quality circles, rejuvenation of suggestion schemes and
aligned with business needs. Additionally, the Company
aligning an organisational ‘Rewards & Recognition’ policy.
implemented a development centre, in association with
In addition to the above excellence projects, the Company global talent companies to build a leadership pipeline.
has undertaken initiatives to strengthen avenues for For the junior officers and staff cadre, several programmes
leadership communication, establish band structure were conducted at specific locations with internal
among employees, develop, and align global Sustainable and external faculties. The Company adopted various
Development Goals (SDGs) to practices, and improvise wage governmental skill developmental programmes to build and
settlement processes to the next level. These improved enhance plantation and shop-floor related skills. Last year, the
processes will help the Company strengthen leadership Company launched an online training platform, ’Knowledge
systems, achieve and sustain long-term objectives, including Brewery’, for its management and junior management staff,
career progression opportunities. allowing employees to spearhead their development.
During FY 2021-22, the Company focused on capability L) Employee awareness
building in Business Excellence, Q-graders as well as Lean
To improve awareness on business ethics, the Prevention
Six Sigma across business units, for practicing excellence
of Sexual Harassment (POSH) Policy and the Whistle Blower
principles. These practitioners will drive various improvement
Policy, the Company has launched campaigns across
and innovation initiatives at the organisation to heighten
locations, with each employee being bestowed with the
business excellence. responsibility of training a designated co-worker. Giving
employees that sense of ownership was an effective way to
H) Mission and values improve awareness across the organisation.
Mission :
Create distinctive, long-term value for all M) People practices
stakeholders with coffee and allied plantation The Company implemented an online Human Resource
products, embracing sustainable practices Information System (HRIS), which automates several HR
Values : Safety; Customer focus; Responsibility; Innovation processes and leads to better data management.
& Agility; People-centric; Transparency The Company is focused on strengthening reward and
recognition practices through an online portal to encourage
I) Financial and operational performance and foster employee engagement.
The total income for the current year stood at ₹887 crore, as Forward Looking Statement
compared to ₹815 crore in the previous year. Profit before
Tax for the year under review was ₹122 crore as against ₹119 Certain statements made in the Management Discussion and Analysis
Report relating to the Company’s objectives, projections, outlook,
crore in the previous year. Profit after Tax during FY 2021-22
expectations, estimates and others may constitute ‘forward looking
stood at ₹102 crore as against ₹101 crore in the previous
statements’, within the meaning of applicable laws and regulations.
year.
Actual results may differ from such expectations, whether expressed
J) Significant changes in financial ratios or implied. Several factors could make a significant difference to
the Company’s operations. These include climatic and economic
During FY 2021-22, on a stand-alone as well as consolidated conditions affecting demand and supply, government regulations
basis, there was no significant change in the financial ratios and taxation, any epidemic or pandemic, natural calamities over
compared to that of the previous year. which the Company may not have any direct/indirect control.

Business Responsibility Report
From the Desk of the CEO healthcare, ecosystem restoration and employability. We implement
At Tata Coffee Limited, we work to ensure that you feel nature’s these customised initiatives through the Coorg Foundation, the
essence in every sip of delicious coffee and tea and in every taste of Akshara School, the Developmental Activities for Rehabilitative
the peppercorn from our plantations. Sustainability is embedded Education (DARE) School and Swastha. We continually work towards
in our core operations, allowing us to deliver nature’s goodness restoration of the hydrological balance in Coorg and Hassan, with
directly to our customers. We have embraced unit-wide practices the objective of making potable drinking water available from the
that uphold sustainability in our business, environmental, source to ensure water security.
operational, and social interactions. We are committed to Operational sustainability
contributing to the well-being of both our employees and all the Our operational sustainability is aligned with our enterprise risk
stakeholders within our ecosystem. management. To ensure the sustained availability of water, we
Given the combined effect of global lockdowns and physical have built 274 tanks across our coffee plantations, satisfying water
distancing requirements on our production and sales, it has requirements of the plantations. In addition, 60% of our energy
been quite a challenging year to navigate. We have faced these requirement is catered to, from renewable sources, including
challenges by pushing sales through focusing our attention on wind and solar energy. Six Sigma and lean processes continue to
premiumisation, entering new geographies, and strengthening drive further improvements in efficiencies and costs in our Instant
our back-end systems. Throughout FY 2021–22, we kept our Coffee plants.
customer and stakeholder priorities, and interests close to our
Through Project Udaan, a pilot programme utilising drones, we are
hearts.
working to ensure the safety of shade lopping and spraying our
Our Company’s operations are aligned with the sustainable peppers. We are currently analysing the results of this initiative.
development goals, among which the following are key priorities:
We use the clonal propagation technique to ensure the future
Environmental sustainability availability of high-yield plants. This method identifies and marks
Water is an essential resource to our business, and we ensure a elite plants (i.e., high-yield, pesticide-resistant varieties), which are
sustainable approach through water conservation, wastewater then multiplied using vegetative suckers. To assess the purity of
treatment and rainwater harvesting. We conserve water using these plants, we have taken early steps towards identifying their
water-efficient technologies and wastewater management DNA fingerprints.
systems, and we implement measures to create employee We have weather stations at our plantations for real-time
awareness. These actions have reduced water consumption across temperature and rainfall monitoring, and we use this data to
our operations. create appropriate schedules for our plantation operations.
Greenhouse Gas emissions from the Company’s operations We have strengthened our buying operations by working with
including purchase of electricity, steam, heat, or cooling to run the small growers in the vicinity of larger estates as well as in newer
operations, for the year, accounted for 68520 MT CO2 equivalent, territories. These smaller growers now utilise more sustainable
which represents significant reduction of 10% (in absolute and plantation practices. Through an annual R&D Day, and by
intensity terms) compared to the previous year. The overall energy circulating a newsletter that discusses good operating practices,
usage for the Tea operations accounts for 82% from renewable we also extend developmental support to small growers.
sources. People sustainability
Business sustainability We are an equal opportunity employer and abide by the principles
Our Company’s comprehensive risk management framework of diversity and inclusivity. Our workforce respects all genders,
covers the identification of risks, the assessment of their business cultures, and religions, meaning that we have a loyal yet vocal and
impact, the development of mitigation strategies and the multicultural employee base that continually challenges the status
implementation of action plans. The framework also ensures that quo. Our ‘zero harm’ philosophy drives our safety practices. Our
all risk mitigation plans are monitored, reviewed, and updated by Company also ensures the safety of our employees through safety
our Risk Management Committee. audits, a proactive safety index and consequence management
systems.
We are continually adding value for our customers through new
product development, by assessing and addressing the demand in Sharing this transparent Annual Report is a step towards
newer geographies and by offering a diversified product portfolio. communicating our honest efforts to build a responsible business
that creates value for our stakeholders.
Social sustainability
We are committed to the well-being of the communities local to Chacko Purackal Thomas
our operations. Our community initiatives focus on education, Managing Director & CEO

SECTION A: GENERAL DISCLOSURES

Corporate Identity Number (CIN) L01131KA1943 PLC000833
Company’s Name Tata Coffee Limited
Registered Office Address Pollibetta, Kodagu, 571215, Karnataka, India
Website www.tatacoffee.com
Email ID [email protected]
Financial year reported 2021–22
Sectors the Company is engaged in Growing of coffee {SIC - 01272}
Manufacturing of coffee products {SIC - 10792}
Growing of tea {SIC - 01271}
Growing of pepper {SIC - 01284}
Key products/services the Company manufactures/provides Coffee – Green beans
Coffee – Instant coffee
Tea
Pepper
Number of locations where business activity is undertaken
International locations Freeze-dried instant coffee facility at Vietnam, through Tata Coffee Vietnam Company
Limited, a wholly owned subsidiary.
National locations  17 coffee estates – in the Kodagu, Hassan and Chikmagalur districts of Karnataka
 1 tea estate – in the Kodagu district of Karnataka
 1 tea and coffee (mixed) estate – in the Chikmagalur district of Karnataka
 4 tea estates – in Pachaimallai, Pannimade, Uralikal and Velonie in the Coimbatore
districts of Tamil Nadu
 1 coffee estate – in Valparai in the Coimbatore district of Tamil Nadu
 1 tea estate – in Malakiparai in the Thrissur district of Kerala
 1 curing works, roasting and grinding factory and pepper processing unit – in the
Kudige, Kushalnagar and Kodagu districts
 1 Instant coffee plant – in the Theni district of Tamil Nadu
 1 Instant coffee plant – in Toopran in the Medak district of Telangana
 Marketing and corporate functions are based in Bengaluru, Karnataka
Markets served by the Company Our coffee business provides instant coffee and green beans to buyers across the
world. Our main markets for instant coffee are Russia and the CIS, Africa, Southeast Asia,
Europe, and MENA. For green beans, our major markets are Western Europe, the Middle
East, the USA, and Australia.
SECTION B: FINANCIAL DETAILS OF THE COMPANY

Paid-up capital ₹18.68 Crore
Total turnover ₹816.89 Crore
Total profit after tax ₹101.84 Crore
Total spending on corporate social responsibility (CSR) as a percentage of average net profit for the ₹1.75 Crore
last three financial years (This is more than the statutory limit of 2%)
List of activities in which CSR expenditure has been incurred Please refer to Annexure - D of the Board’s Report
SECTION C: OTHER DETAILS

Does the Company have any Subsidiary Company/Companies? Yes, the Company has four subsidiaries viz.,
- Consolidated Coffee Inc., USA
- Eight O’ Clock Holdings Inc., USA
- Eight O’ Clock Coffee Company, USA
- Tata Coffee Vietnam Company Limited, Vietnam
Do the Subsidiary Company/Companies participate in the business Our policies are extended to our four subsidiaries, and they participate in
responsibility (BR) initiatives of the parent company? If yes, then indicate our BR initiatives in line with our policies.
the number of such subsidiary Company/Companies.
Are there any other entity/entities (e.g., suppliers, distributors, etc.) that Yes, we actively engage with our key stakeholders, including the supplier
the Company does business with that participate in the BR initiatives? If communities near our operations, our customers and other business
yes, then indicate the percentage of such entity/entities (less than 30%, partners on transactional issues as well as relationship-building processes.
The engagement of the respective stakeholder in BR activities is more
30%–60%, over 60%).
than 60%.

SECTION D: BUSINESS RESPONSIBILITY (BR) INFORMATION
1. Details of the Director responsible for the implementation of the BR policy:
DIN number 05215974
Name Chacko Purackal Thomas
Designation Managing Director & CEO
Telephone number +91 80 23560695
E-mail ID [email protected]
2. Principles as per the National Voluntary Guidelines (NVGs) and the BR policy/policies (reply in Y or N):
Our mission is to create distinctive, long-term value for all our stakeholders by embracing operation-wide sustainable practices.
Principle 1: Ethics, Transparency and Accountability [P1]

Nine Principles per the NVGs
Principle 2: Product Life Cycle Sustainability [P2]

Principle 3: Employees’ Well-being [P3]
Principle 4: Stakeholder Engagement [P4]
Principle 5: Human Rights [P5]
Principle 6: Environment [P6]
Principle 7: Policy Advocacy [P7]
Principle 8: Inclusive Growth [P8]
Principle 9: Customer Value [P9]
We have adopted the Tata Code of Conduct, a Tata Group-level policy. Based on the operating geographies and applicable local laws, we
have established a range of policies, including our Whistle Blower Policy, Safety Health Environment (SHE) Policy, Quality Policy, CSR Policy,
Prevention of Sexual Harassment (POSH) Policy and Code of Conduct for Non-Executive Directors. We have also established investor-
related policies, including Dividend Distribution Policy, Prevention of Insider Trading Policy, Policy for Determination of Materiality for
Disclosures, Document Retention Policy, Material Subsidiary Policy and Policy on Related Party Transactions.
Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
Do you have a policy/policies for the nine principles? Y Y Y Y Y Y Y Y Y
Has the policy been formulated in consultation with relevant Y Y Y Y Y Y Y Y Y
stakeholders?
Does the policy conform to any national/international standards? Y Y Y Y Y Y Y Y Y
If yes, specify.
The Policy covers all the requirements as envisaged under the applicable laws.
Has the policy been approved by the Board? If yes, has it been Where required by the applicable statutes, policies are approved by the Board
signed by the Managing Director/Owner/CEO/appropriate and/or the appropriate Committee. Other internal policies are approved by the
Board Director? Managing Director.
Does the Company have a specified Committee of the Board/ Y Y Y Y Y Y Y Y Y
Director/Official to oversee the implementation of the policy?
Indicate the link for the policy to be viewed online. All our policies are made available to our stakeholders. In addition, some of our
policies are available on the Company’s website at www.tatacoffee.com.
Has the policy been formally communicated to all relevant Y Y Y Y Y Y Y Y Y
internal and external stakeholders?
Does the Company have an in-house structure to implement the Y Y Y Y Y Y Y Y Y
policy/policies?
Does the Company have a grievance redressal mechanism to Y Y Y Y Y Y Y Y Y
address stakeholders’ grievances related to the policy/policies?
Has the Company carried out an independent audit/evaluation All policies are monitored, reviewed, and benchmarked with industry players by
of the working of this policy by an internal or external agency? respective policy owners. Our management systems are also externally certified.
Our policies comply with all applicable local laws and are aligned with the
principles of the NVGs.

3. Governance related to BR: Risk management

(a) Indicate the frequency with which the Board of Our Company’s comprehensive risk management policy functions
Directors, Committee of the Board or CEO to assess the to ensure that sound practices are in place to address business
BR performance of the Company. Within 3 months, 3-6 risks and concerns. The risk management process covers risk
months, Annually, more than 1 year: identification, assessment, development of mitigation strategies,
implementation of action plans, monitoring and reporting. A risk
Six Board Meetings were held during the year and register listing the major risks to our business, including social and
the gap between two meetings did not exceed one environmental issues (e.g., climate change and health and safety),
hundred and twenty days. The Board at its meetings is maintained by the Company and periodically reviewed by the
reviews points on sustainability, Corporate Social Risk Management Committee.
Responsibility and environment, health, and safety.
Our Risk Management Committee is entrusted with the
(b) Does the Company publish a BR or a Sustainability responsibility of assisting the Board in three key areas: (a)
Report? What is the hyperlink for viewing this report? providing insights to make our risk management practices more
How frequently it is published: comprehensive; (b) approving the Company’s Risk Management
Yes, the Company publishes its Business Responsibility Framework; and (c) overseeing all the risks that the organisation
Report annually and the same is available at https:// faces (strategic, financial, liquidity, security, regulatory, legal,
tatacoffee.com/sites/default/files/collaterals/Business- reputational, among others), and taking necessary steps to
Responsibility-Report-2021-22.pdf mitigate these risks. Additionally, the Audit Committee has
oversight over the financial risks and controls.
The BR Report is published, once in a year.
Tata Code of Conduct
PRINCIPLE DETAILS Our Company has institutionalised various processes for ensuring
Principle 1: ETHICS, TRANSPARENCY AND ACCOUNTABILITY fair practices for all stakeholders across our ecosystem, in line with
the Tata Code of Conduct.
BUSINESSES SHOULD CONDUCT AND GOVERN THEMSELVES WITH
ETHICS, TRANSPARENCY AND ACCOUNTABILITY. The Principal Ethics Officer holds the primary responsibility of
We have a legacy of fair and transparent governance practices, implementing the Code of Conduct. The responsibility then
and upholding this approach is an integral part of our pursuit to cascades down to the Company Ethics Counsellor and the Location
create value for all stakeholders. Ethics Counsellors (or Estate Ethics Counsellors) at each location.
The Audit Committee has Board-level oversight of this process.
Corporate governance
The Tata Code of Conduct is communicated to our employees
Our Company is committed to the highest standards of corporate
through translated versions and is regularly communicated to all
governance based on values, fair practices for our stakeholders
stakeholders. A 24/7 multilingual ethics helpline is available for all
and creating accountability across the organisation. We have
adopted specific guidelines encompassing all aspects of the stakeholders to report their concerns, and these are addressed in
Company’s governance, including the composition and role of the a responsible manner.
members and senior leaders of the Board, ensuring diversity. We evaluate the effectiveness of the implementation of the Code
Our Board of Directors is formed with an optimum combination of Conduct through our Leadership Business Ethics Survey, and
of Executive and Non-Executive Directors, including a female many of the Code’s practices are benchmark company-wide
Director. As of March 31, 2022, the Company had eight Directors: actions.
two Executive Directors, two Non-Independent Directors, and We have also developed our Whistle Blower Policy, Gift Policy and
four Independent Directors. 75% of the Board members, including POSH Policy to strengthen our business ethics practices.
the Chairman are Non-Executive Directors. The Board of Directors
and its sub-committees provide leadership and guidance to the Tata Code of Conduct concerns for FY 2021–22:
management team, direct and supervise the performance of the
Number of stakeholder complaints
Company, enhancing stakeholder value. The Board Committees
Received Resolved Pending
currently include the Audit Committee, the Nomination and
for closure
Remuneration Committee, the Stakeholders’ Relationship
Committee, the Risk Management Committee, and the Corporate Complaints related to the 14 12 2
Social Responsibility Committee. Tata Code of Conduct
The Company adheres to the requirements of corporate The Tata Business Excellence Model (TBEM) drives excellence in
governance as stipulated in the Securities and Exchange Board everything we do. TBEM is a holistic Business Excellence Model
of India (SEBI) (Listing Obligations and Disclosure Requirements) (an industry agnostic model) which helps the Company enabling
Regulations, 2015 (SEBI Listing Regulations), as amended from culture for improving the business performance continuously
time to time. encompassing all the stakeholders including the customers,

investors, community, employees, government. The model has Water management
helped the Company to sustain the business performance in last 2
Our sustainable irrigation practices, designed to promote
years irrespective of tough market conditions.
optimal water use, allow us to mitigate and partially manage
unexpected weather changes. In addition, our rainwater
PRINCIPLE 2: PRODUCT LIFE CYCLE SUSTAINABILITY harvesting assets address a comprehensive range of pre- and
BUSINESSES SHOULD PROVIDE GOODS AND SERVICES post-blossom irrigation requirements.
THAT ARE SAFE AND CONTRIBUTE TO SUSTAINABILITY
We have adopted a structured water management programme
THROUGHOUT THEIR LIFE CYCLE
spanning water conservation, wastewater treatment and
A balance of environmental and social factors is critical to the rainwater harvesting, and to achieve our objectives, we have
sustainable production of quality coffee. As a business, we are invested in water-efficient technologies. Our water conservation
cognisant of our susceptibility to climate change, which threatens approaches and learnings are communicated to our stakeholders.
the production of our coffee and allied products, thereby affecting
Following best practice for manufacturing, we do not use
business continuity. We remain aware of environmental regulation
groundwater for the irrigation and processing of coffee or pepper.
changes and ensure that our operations are sustainable.
We have installed reservoirs and tanks in our plantation catchment
We focus on soil conservation, water conservation, energy
areas, and these are excavated, desilted, or extended to meet our
efficiency and waste management at our plantations and
irrigation requirements. The present capacity of these holding
manufacturing facilities.
areas is 34.75 Lakh cubic metres; this represents sufficient water
Sustainability at our plantations for the blossoming of our entire Robusta crop volume and for our
pepper vines, as well as to satisfy our back irrigation needs.
Sustainability is embedded in our agricultural practices,
including integrated pest and disease management measures. We monitor and track the amount of water used through water
We consistently endeavour to use eco-friendly technologies and flow meters. While discharging wastewater from the estates, we
work towards enriching soil, water, and biodiversity in and around also ensure that surface water sources are not contaminated.
our plantations. We base our cultivation practices on the scientific
Other initiatives undertaken to manage water efficiently include
mapping of soil nutrition and cropping patterns, coupled with
the following:
the optimal usage of natural resources. These actions enable us to
sustain ecological balance at our locations.  Introducing GPS technology to enhance the operational
efficiency of our irrigation process
Sustainable agriculture
 Preventing the discharge of pollutants into natural water
We continually focus on advanced agronomy across our
bodies
plantations to ensure the sustainability of our crops and their
ability to withstand any challenges caused by climate change.  Supplying our residential colonies with septic tanks to
prevent any negative impact on the groundwater
Our key sustainable cultivation practices include the following:
 Using advanced systems (e.g., eco-pulpers and high-
 Using soil nutrient analysis, leaf diagnostic analysis and efficiency sprayers) to minimise water consumption
the Soil Nutrient Index, resulting in the optimised use of
fertilisers and soil amendment Energy efficiency and renewable energy
 Growing coffee along with intercrops (e.g., pepper) to The significant amount of green vegetative cover at our plantations
promote biodiversity and the optimal use of natural contributes to our negative carbon footprint of 1.85 Lakh tonnes
resources of CO2 equivalent annually and acts as a huge carbon sink.
 Conducting Varietal Trial Experiments on coffee, pepper, and During FY 2021–22, we procured 22,56,291 units of wind power
cardamom to identify a selection of location-specific, high- for our Anamallais operations. We installed roof-mounted solar
yield plants that are pest-, disease- and drought-tolerant panels at our estates. At Coorg, we installed energy-efficient
motors to pump water. We enhanced our solar plant capacity
 Implementing agricultural waste management systems to to increase the availability of renewable energy; specifically, our
produce quality compost, enhancing soil fertility status Theni unit expanded its solar plant capacity to 500 kWp. These
 Establishing drip and basin irrigation systems for our Robusta measures have resulted in an increase in renewable energy usage,
crops including both solar and wind sources, to 40.8% of our overall
power pattern.
 Adopting apiculture and pisciculture practices
Knowledge sharing
 Undertaking shade management by assessing light intensity,
In line with our Rainforest Alliance certification, we conduct
which is critical to our agronomic practices
regular awareness sessions for our local communities on waste
 Participating in collaborative research to develop eco- management and the conservation of ecosystems, water, and
friendly agro-chemicals and pheromones flora and fauna. We issue monthly Advisory Circulars to the estates

and our customers to update them on current and new trends in An effluent treatment plant and a reverse osmosis system ensure
cultivation practices, pest and disease management, and post- that our wastewater and liquid effluents are effectively treated
harvest technology. following the reduce, recycle and reuse (3R) principle. Our plant
Sustainability at our facilities at Theni is a zero-liquid-discharge facility that adheres to the 3R
principle for all generated wastewater. The significant volume of
We are committed to building upon our pioneering role in tackling effluent water is treated and reused in the boiler and other utility
climate change issues by adopting environmentally friendly
equipment at Toopran.
technologies. Our comprehensive approach to the endeavour of
offsetting the effects of our activities on the climate includes the We have installed electrostatic precipitators for our boiler
two key elements of measuring our carbon footprint and engaging operations to control and improve boiler stack emissions, which
actively in advocating and shaping climate change regulations. is unique to this industry.
We have undertaken various environmental protection initiatives Sustainable procurement
over the short and long term by allocating resources and sharpening We source products and services that are environmentally
our focus. These initiatives include rainwater harvesting, the use of sustainable, including energy-efficient electrical accessories and
renewable energy and solid waste management. appliances such as motors.
Our integrated management system (IMS) adheres to international In line with our objective of promoting inclusive development,
standards, enabling alignment across all functional areas and we promote the utilisation of local resources (e.g., Agri-briquettes,
operational aspects. These environmental measures are governed agro-inputs, maintenance, and civil works), and we conduct
by the overarching ISO 14001:2015 standards. business with small traders at our estates as well as small farmers
Environmental management in our Instant Coffee Division in remote areas. In addition, we locally source the personnel for
(ICD) our security and other facility management services.
Our goal is to establish a culture of care by demonstrating
leadership through performance improvements at our
PRINCIPLE 3: EMPLOYEES’ WELL-BEING
manufacturing facilities in Toopran and Theni (our two ICD units). BUSINESSES SHOULD PROMOTE THE WELL-BEING OF ALL
We have demonstrated consistent improvement in this area. EMPLOYEES
These manufacturing facilities are certified for IMSs, which drive Our objective is to create a working environment that supports
all systems and processes in a unified framework to promote the holistic development of our employees. As of March 31,
excellence in sustainability. Both units are certified under the 2022, we have 14,441 employees across our operations. Of these,
latest version of our environmental management system. 6,220 are casual labourers engaged in plantation operations
Focusing on environmental sustainability initiatives, these units during harvesting period.
are also acknowledged by the UTZ and the Rainforest Alliance Employee well-being
certifications.
We provide a host of benefits and services to our employees to
Energy efficiency and renewable energy meet their various needs, exceeding statutory requirements in
We are cognisant of our role in combating climate change and have most areas. We also promote robust employee health and wellness
been successful in improving the efficiency of our processes by initiatives across all geographies and segments. We conduct
reducing the specific consumption of resources across operations. periodic health check-ups and de-addiction programmes for our
We aggressively promote renewable energy – from solar and wind employees at all locations.
energy generation to biomass utilisation – at our manufacturing Capability-building programmes
facilities.
Our Company focuses on the welfare and the improvement
We invested in a condensate recovery system at our Theni Freeze of our employees’ skills and competencies through training
Dried Coffee manufacturing plant. This initiative has led to an and development programmes aligned with our technical,
increase in the condensate recovery factor from 65% to 70% by behavioural, and functional requirements. These programmes
reducing our consumption of water and coal. focus on skill development or skills gaps for current and future
Managing water and waste job role requirements, including specific programmes for ethics,
values, and animal conflict management.
We are constantly seeking to reduce our water consumption
volume, expand our water conservation measures at our facilities Employee engagement
and replenish the groundwater levels in our communities. Our We implement robust processes and programmes that reflect
coffee processing is performed using advanced Colombian and a culture of open communication. Engagement has also been
Brazilian pulping technologies, ensuring minimal water usage fostered through corporate initiatives such as leadership
and pulping discharge. In addition, indigenous pulping units with communication training, knowledge-sharing sessions, volunteer
low water consumption reduce and recycle the treated water for opportunities, and a reward and recognition system. We assess
irrigation. the effectiveness of our employee engagement initiatives through

reviews conducted by our senior leaders with guidance from the Details on key performance indicators are listed below:
Board.
Safety and health 2019–20 2020–21 2021–22
Diversity and inclusion performance
We provide equal opportunities to our employees and do not Number of unsafe situations 21,624 26,024 28,278
promote any unfair practices on any grounds, including race, observed – behaviours,
caste, religion, colour, ancestry, marital status, gender, sexual conditions and near misses
orientation, age, nationality, disability, or any other category Total training hours 107,137 130,900 256,903
protected by applicable law. All employee-related decisions are
based solely on performance, merit, competence, and potential. Number of health awareness 890 2,130 2,439
sessions conducted
During Women’s Day celebration, we had invited renowned
Number of total recordable 78 78 76
women leaders across the group to talk to our employees on
cases
diversity and organisational processes for driving these initiatives.
Number of lost time injuries 67 70 67
Safety, Occupational Health and Environment (SHE)
Number of major fires 1 2 1
We have embarked on a journey of safety excellence across all
Number of high potential 26 13 14
locations on the following governing philosophy: ‘No one working
incidents
in our operations gets hurt and all the employees & stakeholder
representatives go back to home, in the same condition they
PRINCIPLE 4: STAKEHOLDER ENGAGEMENT
came to operating locations’. Safety performance is reviewed
by the senior leadership team through SHE Council meetings. BUSINESSES SHOULD RESPECT THE INTERESTS OF, AND BE
The SHE Council includes the lead SHE officer and the safety RESPONSIVE TOWARDS ALL STAKEHOLDERS, ESPECIALLY
coordinators at all locations. In addition to ensuring that all safety THOSE WHO ARE DISADVANTAGED, VULNERABLE AND
procedures are followed, the safety coordinators conduct training MARGINALISED
programmes to educate our employees on performing their tasks
We strive to be responsible and sensitive to our stakeholders.
correctly and safely, with a focus on the handling of machinery
Depending on a direct relationship of impact, influence and
and agro-chemicals.
proximity, or relevance, we have identified various stakeholder
We work with the business unit location-level teams on risk groups (customers, employees, investors, suppliers, other value
assessment, training around safety and the operational control chain partners, local communities, and NGOs) for engagement.
plan, mock drills, first aid training and medical check-ups. We cover We believe in building and maintaining long-term relationships
key safety risks, including working at height, human–elephant with stakeholders through organisational processes.
conflict, contractor safety and driving safety, and we have
We regularly communicate our policies and processes to
appropriate mitigation plans in place. Welfare and safety audits
stakeholders and have provided avenues to raise concerns or
are conducted annually through an external agency covering the
queries in good faith. By these same channels, the stakeholders
workplace and labour lines.
can report instances of actual or perceived violations of our Code.
The following are some of the key initiatives undertaken during
FY 2021–22: PRINCIPLE 5: HUMAN RIGHTS
 Conducting safety audits, led by the National Safety Council, BUSINESSES SHOULD RESPECT AND PROMOTE HUMAN
at each operating location, and developing action plans RIGHTS
based on the audit findings
We respect and uphold the highest principles of human rights.
 Strengthening the consequence management system and Gender diversity
creating awareness across locations
Of our 14,441 employees across all operations, including our
 Taking our Proactive Safety Indicators to the next level corporate functions, 53% are female employees.
 Engaging employees in safety awareness through a Child and forced labour
celebration of National Safety Month
Our Company strictly prohibits child labour. We do not tolerate
 Focusing on the elimination of high-risk operations and on forced labour of any form in our operations, and we encourage
emergency planning and mock drills our suppliers, vendors, contractors, and other business partners
to adhere to these same ideals. We conduct welfare audits once
every two years, employing external agencies to assess the welfare
index of our estates.

Freedom of association and collective bargaining We have planted Vetiver in the landslide area across the Coorg
We recognise the right of our employees to join associations district as part of our community initiative and volunteering
or involve themselves in civic or public affairs in their personal programme.
capacities, provided that such activities do not create an actual or Water conservation
potential conflict with the interests of our Company. We expect
We undertake water conservation projects as part of our
our employees to seek prior approval for any such activity as per
community initiatives. We partner with the relevant district
the Conflicts of Interest clause in the Tata Code of Conduct. Of our
authorities to rejuvenate lakes, thereby maintaining the
employees, ~90% are members of a recognised union.
hydrological balance in selected areas.
POSH Policy
We have zero tolerance for sexual harassment in the workplace PRINCIPLE 7: POLICY ADVOCACY
and have adopted a policy to ensure the prevention, prohibition, BUSINESSES, WHEN ENGAGED IN INFLUENCING PUBLIC AND
and redressal of sexual harassment. This policy aims to provide REGULATORY POLICY, SHOULD DO SO IN A RESPONSIBLE
protection to employees in the workplace and redress complaints MANNER
of sexual harassment and any connected or incidental matters,
with the objective of providing a safe and secure working We have empowered, authorised, and appropriately trained
environment. We have conducted communication and awareness individuals to interact with our stakeholder groups. Prior internal
sessions across our operations through external subject matter approval is required for the initiation of any contact between our
experts. We have also formed an Internal Complaints Committee Company or its representatives and any officials for the purpose of
to inquire into complaints of sexual harassment and recommend influencing regulation or legislation.
appropriate action. We actively participate in various forums relevant to the industry,
Sexual harassment concerns for FY 2021–22: our Company, and our stakeholders. We are associated with the
following industry bodies in different capacities:
Number of complaints
 Coffee Board of India
Received Resolved Pending for closure
 Confederation of Indian Industry
Complaints under the 5 5 0
terms of the POSH Policy  United Planters’ Association of Southern India
PRINCIPLE 6: ENVIRONMENT  Karnataka Planters’ Association and Kodagu Planters’

Association
BUSINESSES SHOULD RESPECT, PROTECT AND MAKE EFFORTS
TO RESTORE THE ENVIRONMENT  Anamallais Plantations Association
Our environmental stewardship extends beyond our premises,  Federation of Telangana and Andhra Pradesh Chambers of
and we are cognisant of the ecosystem in which we operate. We Commerce and Industry
operate in biodiversity hotspots; therefore, it is important for us to
protect the rich environmental heritage of those regions. PRINCIPLE 8: INCLUSIVE GROWTH
Forest and wildlife conservation BUSINESSES SHOULD SUPPORT INCLUSIVE GROWTH AND
EQUITABLE DEVELOPMENT
Our estates and the neighbouring areas are home to ~3,049 native
species of flora and 496 species of wildlife. As a standard business We believe in inclusive growth; therefore, community care and
practice, we do not harvest threatened or endangered plants or development form an integral part of our agenda. We promote
trees. We have established a buffer zone by planting permanent equitable development by working for the socio-economic
native vegetation (Acalypha bushes) to promote biodiversity, and environmental well-being of the communities in which we
minimise any negative visual impact and reduce the drift of operate.
agro-chemicals, dust and other substances emanating from our Our approach
agricultural or processing operations. We also conduct an annual
surface water analysis to check drift and erosion of chemicals into Our programmes are aligned with the most critical needs of the
water bodies. communities where we operate. We primarily focus on education,
healthcare, ecosystem restoration and employability, and we have
We maintain an inventory of the wildlife and wildlife habitats
identified health, differently abled personnel, restoration of the
found on our estates through a wildlife-sighting register. The
hydrological balance and skill development as key focus areas for
hunting, capturing, extracting, and trafficking of wild animals
our CSR programmes.
are strictly prohibited on the estates. Our wildlife enclosures help
mitigate potential human–animal conflicts and create feeding All our programmes are implemented through partnerships with
sites for animals in our reserve forests. credible NGOs and local government authorities.

Natural restoration of the hydrological balance – the ‘lake-in- 3. Under Project Empower, we conducted functional English
lake’ model classes in partnership with Tata Consultancy Services (TCS)
Some of our core values like Innovation and Agility is demonstrated to train teachers and students in government schools within
through restoration of the hydrological balance. We are working in the district
partnership with district authorities to restore Kadlur village’s lake 4. Capability building for small indigenous planters, focusing
using an innovative ‘lake-in-lake’ technology. The objective of this on increasing income from diverse plantation products
approach is to harvest both rainwater and a large volume of runoff
water to increase underground recharge every year and provide Valparai
potable drinking water from the source to ensure water security.  The DARE Project: Over the last 25 years, DARE has worked to
We educate members of the community to optimise their water support the well-being of children with special needs from
usage and treat water as an asset, not a resource. Applying this among the workers’ population. The centre provides various
innovative model has allowed us to recharge both underground activities, including meditation, exercises, physiotherapy,
water and drinking water supply. arts and crafts, stitching, embroidery, candle making, making
Site-specific programmes washing powder and office covers, and basket weaving, in
We have implemented several community initiatives in areas addition to supervised games and activities. Proceeds from
where our plantations and factories are located. Details of these the sale of the products made at the centre are deposited
programmes are listed below. into the post office accounts of the participating children.
Coorg and Hassan  Uralikal Central Hospital: This 50-bed hospital is run by our
Company in Anamallais and provides free medical aid to our
 Coorg Foundation: The foundation has been under the aegis
of Tata Coffee since 1994 and promotes the welfare of the workforce of 6,000+ members. The hospital also extends free
local community through a host of economic, environmental, medical aid to the indigenous population in the settlements
and social initiatives. on the periphery of our estates, as well as providing services
via medical camps. Medical aid is offered at subsidised rates
 Swastha: The Centre for Special Education caters to the
to those belonging outside of the community.
needs of the differently abled individuals in the district of
Kodagu to rehabilitate residential students and youth in  Akshara Vidyasharam: This primary school opened its doors
the community. Tata Strive, in partnership with Starbucks, to the children of Anamallais in 2007 to provide quality
is opening a training centre for imparting skills leading to education at an affordable cost. The school is run on a not-
employability. for-profit basis by Tata Coffee Ladies Welfare & Educational
 Rural India Health Project Hospital: The hospital is the district’s Trust. It caters to children from playschool age to Class 5
only 24/7, residential, speciality hospital offering emergency level. The school follows Tamil Nadu State Board and has
services, and it has significantly reduced the need of local smart class facilities.
habitants to travel outside the district for medical treatment. We have initiated new projects during FY 2021–22, including the
The hospital’s vision is to provide healthcare facilities and following:
advice, around the clock and at an affordable cost, to the
local community. 1. Project Empower: As part of this, we conduct functional
English classes in partnership with TCS to train teachers and
This hospital has total of 56 beds, including 7 beds in ICU
students in government schools and colleges within the
section, and is well-equipped with modern facilities and
district
equipment, in addition to specialised doctors. In FY 2021–22,
the hospital worked on anaemia services, first aid and blood 2. Project MAGEC: This is a youth employability programme for
donation camps across the district in partnership with the college graduates from rural areas that provide mathematical,
local health authorities. The doctors also led health camps analytical, general, English and computer skills tuition in
in indigenous villages, focusing on menstrual hygiene and partnership with TCS
pregnancy.
3. Providing internships for economically disadvantaged
We have initiated several new projects at this site, including the students in Tata Coffee’s Tea factories
following:
4. Strengthening the community centres by supporting the
1. Plastic upcycling to eliminate low-value plastic going to continuous education and welfare of the community and by
landfills, thereby decreasing carbon emissions from 10
providing faculty, computers, and free internet access
government schools and educating their students on the
importance of sustainability ICD – Theni and Toopran
2. Teaching skills to women and mobilising them to obtain  Remedial coaching classes offered to students from
sustainable livelihood by providing skills, materials, and government schools to reduce dropout rates and improve
technology for tailoring sessions overall performance

 Capability development training for nurses in information Volunteering hours since FY 2019–20:
technology and computer literacy across government
Hours
nursing colleges
2019–20 2020–21 2021–22
 Health camps organised in rural areas with a focus on elderly Volunteering hours 41,232 31,888 63,593
patients and students, in partnership with the Rotary Club/ These volunteering efforts have resulted in 5.49 per capita
Lions Club, Titan Eye Plus and district health authorities employee volunteering hours and touched 28.5 per capita lives,
 Project Abhyaas to teach functional English classes in which is significantly higher compared to the previous year.
partnership with the Institute of Resource and Social
Management to train teachers and students in government PRINCIPLE 9: CUSTOMER VALUE
schools within the district BUSINESSES SHOULD ENGAGE WITH AND PROVIDE VALUE
 Plastic usage reduction by providing steel utensils to multiple TO THEIR CUSTOMERS AND CONSUMERS IN A RESPONSIBLE
panchayats MANNER
 Supported Sarva Shiksha Abhiyan – a central government One of the operational pillars of our Company is customer
initiative for students with disabilities excellence. We utilise a range of mechanisms to build relationships
with our customers and continuously engage with them to
Group-level community welfare initiatives
understand their requirements and become more responsive to
 Volunteering activities: We have a Group-level volunteer their needs. We monitor our progress in this area by gathering
programme with the objectives of sensitising our employees information through customer meetings, transactional feedback,
to social causes, encouraging them to get involved in their and customer satisfaction surveys.
communities and providing them with opportunities to
Our Company has a robust customer complaint management
contribute to those communities. During FY 2021–22,
system that facilitates our processes for registering complaints,
as part of this programme, 11,590 volunteers across the
tracking issues, and resolving grievances to the customer’s
Company contributed to 63,593 volunteering hours across
satisfaction.
233 activities. We remain among the five highest ranked
companies in the Tata Group for overall volunteering hours Driving operational excellence through official certifications
invested. Our food safety certifications, Halaal and Kosher, specifically
 Pro-Engage initiatives: Eight volunteers participated in address the concerns of different cultural customs. We have a UTZ
Pro-Engage initiatives, which are long-term volunteering certification for the sustainable farming and sourcing of our coffee
projects (up to six months). These volunteers worked on beans from our farms to the production of soluble coffee.
various projects, including working with and providing The Global Food Safety Initiative (GFSI) is another organisation that
career guidance for young people, connecting with elderly plays an important role in food safety systems. It has benchmarked
members of the community, and reviewing organisational existing food safety schemes (FSSCs), including FSSC 22000, SQF
policies. and the British Retail Consortium.

INDEPENDENT AUDITOR’S REPORT
To The Members of Tata Coffee Limited
Report on the Audit of the Standalone Financial Statements Section 143(10) of the Act (SAs). Our responsibilities under those
Standards are further described in the Auditor’s Responsibility for
Opinion
the Audit of the Standalone Financial Statements section of our
We have audited the accompanying standalone financial report. We are independent of the Company in accordance with
statements of Tata Coffee Limited (“the Company”), which the Code of Ethics issued by the Institute of Chartered Accountants
comprise the Balance Sheet as at 31 March, 2022, and the of India (ICAI) together with the ethical requirements that are
Statement of Profit and Loss (including Other Comprehensive relevant to our audit of the standalone financial statements under
Income), the Cash Flow Statement and the Statement of Changes the provisions of the Act and the Rules made thereunder, and we
in Equity for the year then ended, and a summary of significant have fulfilled our other ethical responsibilities in accordance with
accounting policies and other explanatory information. these requirements and the ICAI’s Code of Ethics. We believe that
In our opinion and to the best of our information and according the audit evidence obtained by us is sufficient and appropriate to
to the explanations given to us, the aforesaid standalone financial provide a basis for our audit opinion on the standalone financial
statements give the information required by the Companies Act, statements.
2013 (“the Act”) in the manner so required and give a true and Our opinion is not modified in respect of this matter.
fair view in conformity with the Indian Accounting Standards
Key Audit Matters
prescribed under Section 133 of the Act read with the Companies
(Indian Accounting Standards) Rules, 2015, as amended, (“Ind AS”) Key audit matters are those matters that, in our professional
and other accounting principles generally accepted in India, of the judgment, were of most significance in our audit of the standalone
state of affairs of the Company as at 31 March, 2022, and its profit, financial statements of the current period. These matters were
total comprehensive income, its cash flows and the changes in addressed in the context of our audit of the standalone financial
equity for the year ended on that date. statements as a whole, and in forming our opinion thereon, and
we do not provide a separate opinion on these matters. We have
Basis for Opinion
determined the matters described below to be the key audit
We conducted our audit of the standalone financial statements matters to be communicated in our report.
in accordance with the Standards on Auditing specified under
Sr. Key Audit Matter Auditor’s Response
No.
1. Growing Produce (Existence and Valuation) With respect to the existence of the growing produce of coffee, tea
Produce of coffee, tea and pepper growing on the bearer and pepper:
plants (“growing produce”) are measured at fair value 1. Obtained an understanding of the significant management
based on their biological transformation. judgements applied in determination of the quantity and
The fair valuation of the growing produce is significant biological transformation of the growing produce.
to our audit on account of the significant management 2. Evaluated the design of internal controls relating to the
judgements applied in determining estimated quantity management’s process of making judgments and estimates
and transformation based on factors like stage of growth relating to quantity, biological transformation, and also
(determined based on the visible growth and systematic tested the operating effectiveness of the aforesaid controls.
crop estimation) and harvesting cycle of the crops and 3. Retrospectively compared the actual harvest data with the
their fair values less costs to sell which is based on factors growing produce that was estimated and recorded by the
like established conversion norms and the published management prior to harvest to assess the reasonableness
rates. of the process of prior estimation by the management and
Refer to Note 8 and Note 40 of the standalone financial also to assess the reliability of the basis of management
statements for the fair value measurement, Note 2.2 judgement in estimating growing produce as at the balance
(h) for accounting policies and Note 2.3.(iv) relating to sheet date.
Valuation of Agricultural Produce under Key accounting With respect to valuation of growing produce:
judgements, estimates and assumptions.
1. Evaluated the design of internal controls relating to the
management’s judgments and estimates for determining
fair value less cost to sell and also tested the operating
effectiveness of the aforesaid controls.


No.
2. Validated the market information considered by the
management in determining the fair values.
3. Compared the estimate of costs to sell to the actual selling
cost incurred during the year to validate the reasonability of
the estimate of costs to sell considered in determining fair
values as at the Balance Sheet date.
Tested the appropriateness of the disclosure in the standalone
financial statements in accordance with the applicable financial
reporting framework.
2 Inventory of raw / cured coffee beans (“green coffee With respect to the net realisable value:
beans”), tea and pepper (Valuation)
1. Obtained an understanding of the determination of the net
Finished goods inventory are valued at lower of cost realizable values of green coffee beans, tea and pepper and
and net realizable value (estimated selling price less assessed and tested the reasonableness of the significant
estimated cost to sell). Considering that there is always judgements applied by the management.
a volatility in the selling price of green coffee beans, tea
and pepper, which is dependent upon various market
valuation of green coffee beans, tea and pepper and also
conditions, determination of the net realizable value for
tested the operating effectiveness of the aforesaid controls.
green coffee beans, tea and pepper involves significant
management judgement and therefore has been 3. To assess the reasonableness of the net realisable value that
considered as a key audit matter. was estimated and considered by the management:
The total value of finished goods (commodities) as at 31  With respect to the committed stock of green coffee
March, 2022 is `21771.51 Lakh. Also refer to Note 2.3 (iv) beans for which the Company has entered into
relating to Valuation of Agricultural Produce under Key contracts with the respective customers, on a sample
accounting judgements, estimates and assumptions. basis, compared the net realisable value with the rates
as per the said contracts;
 With respect to the uncommitted stock of green coffee
beans, obtained the market information relating to
coffee prices and assessed the reasonableness of the
adjustments that were made to such market prices to
estimate the net realisable value;
 With respect to the uncommitted stock of tea and
pepper, obtained the latest realization rates / market
information relating to prices and assessed the
reasonableness of the adjustments that were made to
such market prices to estimate the net realisable value;
 Verified the publicly available market information to
assess if there has been significant decrease in the rates
subsequent to the year end.
4. Compared the actual costs incurred to sell based on the latest
sale transactions to assess the reasonableness of the cost to
sell that was estimated and considered by the management.
5. Compared the cost of the finished goods with the estimated
net realisable value and checked if the finished goods were
recorded at net realisable value where the cost was higher
than the net realisable value.

Information Other than the Financial Statements and Those Board of Directors are also responsible for overseeing the
Auditor’s Report Thereon Company’s financial reporting process.
 The Company’s Board of Directors is responsible for the Auditor’s Responsibility for the Audit of the Standalone
other information. The other information comprises the Financial Statements
information included in the Annual Report, for example,
Our objectives are to obtain reasonable assurance about whether
Corporate Overview, Key Highlights, Directors’ Report,
the standalone financial statements as a whole are free from
Report on Corporate Governance, Management Discussion
material misstatement, whether due to fraud or error, and to
& Analysis Report, Business Responsibility Report, etc., but
issue an auditor’s report that includes our opinion. Reasonable
does not include the consolidated financial statements,
assurance is a high level of assurance, but is not a guarantee that
standalone financial statements and our auditor’s report
an audit conducted in accordance with SAs will always detect a
thereon.
material misstatement when it exists. Misstatements can arise
 Our opinion on the standalone financial statements does not from fraud or error and are considered material if, individually or
cover the other information and we do not express any form in the aggregate, they could reasonably be expected to influence
of assurance conclusion thereon. the economic decisions of users taken on the basis of these
standalone financial statements.
 In connection with our audit of the standalone financial
statements, our responsibility is to read the other information As part of an audit in accordance with SAs, we exercise professional
and, in doing so, consider whether the other information judgment and maintain professional skepticism throughout the
is materially inconsistent with the standalone financial audit. We also:
statements or our knowledge obtained during the course of
 Identify and assess the risks of material misstatement of the
our audit or otherwise appears to be materially misstated.
standalone financial statements, whether due to fraud or
 If, based on the work we have performed, we conclude that error, design and perform audit procedures responsive to
there is a material misstatement of this other information, we those risks, and obtain audit evidence that is sufficient and
are required to report that fact. We have nothing to report in appropriate to provide a basis for our opinion. The risk of not
this regard. detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve
Management’s Responsibility for the Standalone Financial
collusion, forgery, intentional omissions, misrepresentations,
Statements
or the override of internal control.
The Company’s Board of Directors is responsible for the matters
 Obtain an understanding of internal financial control
stated in Section 134(5) of the Act with respect to the preparation
relevant to the audit in order to design audit procedures that
of these standalone financial statements that give a true and fair
are appropriate in the circumstances. Under Section 143(3)(i)
view of the financial position, financial performance including
of the Act, we are also responsible for expressing our opinion
other comprehensive income, cash flows and changes in equity of
on whether the Company has adequate internal financial
the Company in accordance with the Ind AS and other accounting
controls system in place and the operating effectiveness of
principles generally accepted in India. This responsibility also
such controls.
includes maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding the  Evaluate the appropriateness of accounting policies used
assets of the Company and for preventing and detecting frauds and the reasonableness of accounting estimates and related
and other irregularities; selection and application of appropriate disclosures made by the management.
accounting policies; making judgments and estimates that
 Conclude on the appropriateness of management’s use of
are reasonable and prudent; and design, implementation and
the going concern basis of accounting and, based on the
maintenance of adequate internal financial controls, that were
audit evidence obtained, whether a material uncertainty
operating effectively for ensuring the accuracy and completeness
exists related to events or conditions that may cast significant
of the accounting records, relevant to the preparation and
doubt on the Company’s ability to continue as a going
presentation of the standalone financial statement that give a true
concern. If we conclude that a material uncertainty exists, we
and fair view and are free from material misstatement, whether
are required to draw attention in our auditor’s report to the
due to fraud or error.
related disclosures in the standalone financial statements or,
In preparing the standalone financial statements, management is if such disclosures are inadequate, to modify our opinion.
responsible for assessing the Company’s ability to continue as a Our conclusions are based on the audit evidence obtained
going concern, disclosing, as applicable, matters related to going up to the date of our auditor’s report. However, future events
concern and using the going concern basis of accounting unless or conditions may cause the Company to cease to continue
management either intends to liquidate the Company or to cease as a going concern.
operations, or has no realistic alternative but to do so.

 Evaluate the overall presentation, structure and content of the e) On the basis of the written representations received
standalone financial statements, including the disclosures, from the directors as on 31 March, 2022 taken on
and whether the standalone financial statements represent record by the Board of Directors, none of the directors is
the underlying transactions and events in a manner that disqualified as on 31 March, 2022 from being appointed
achieves fair presentation. as a director in terms of Section 164(2) of the Act.
Materiality is the magnitude of misstatements in the standalone f ) With respect to the adequacy of the internal financial
financial statements that, individually or in aggregate, makes controls over financial reporting of the Company and
it probable that the economic decisions of a reasonably the operating effectiveness of such controls, refer
knowledgeable user of the standalone financial statements to our separate Report in “Annexure A”. Our report
may be influenced. We consider quantitative materiality and expresses an unmodified opinion on the adequacy
qualitative factors in (i) planning the scope of our audit work
and operating effectiveness of the Company’s internal
and in evaluating the results of our work; and (ii) to evaluate the
financial controls over financial reporting.
effect of any identified misstatements in the standalone financial
statements. g) With respect to the other matters to be included in the
We communicate with those charged with governance regarding, Auditor’s Report in accordance with the requirements of
among other matters, the planned scope and timing of the Section 197(16) of the Act, as amended, in our opinion
audit and significant audit findings, including any significant and to the best of our information and according to
deficiencies in internal control that we identify during our audit. the explanations given to us, the remuneration paid
by the Company to its directors during the year is in
We also provide those charged with governance with a statement accordance with the provisions of Section 197 of the
that we have complied with relevant ethical requirements Act.
regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought h) With respect to the other matters to be included
to bear on our independence, and where applicable, related in the Auditor’s Report in accordance with Rule 11
safeguards. of the Companies (Audit and Auditors) Rules, 2014,
as amended in our opinion and to the best of our
From the matters communicated with those charged with
information and according to the explanations given to
governance, we determine those matters that were of most
significance in the audit of the standalone financial statements us:
of the current period and are therefore the key audit matters. i. The Company has disclosed the impact of
We describe these matters in our auditor’s report unless law or pending litigations on its financial position in its
regulation precludes public disclosure about the matter or when, standalone financial statements;
in extremely rare circumstances, we determine that a matter
should not be communicated in our report because the adverse ii. The Company has made provision, as required
consequences of doing so would reasonably be expected to under the applicable law or accounting standards,
outweigh the public interest benefits of such communication. for material foreseeable losses, if any, on long-
term contracts including derivative contracts;
Report on Other Legal and Regulatory Requirements
iii. There has been no delay in transferring amounts,
1. As required by Section 143(3) of the Act, based on our audit
required to be transferred, to the Investor
we report that:
Education and Protection Fund by the Company;
a) We have sought and obtained all the information and
explanations which to the best of our knowledge and iv. (a) The Management has represented that,
belief were necessary for the purposes of our audit. to the best of its knowledge and belief, no
funds (which are material either individually
b) In our opinion, proper books of account as required by or in the aggregate) have been advanced or
law have been kept by the Company so far as it appears loaned or invested (either from borrowed
from our examination of those books. funds or share premium or any other sources
c) The Balance Sheet, the Statement of Profit and Loss or kind of funds) by the Company to or
including Other Comprehensive Income, the Cash Flow in any other person or entities, including
Statement and Statement of Changes in Equity dealt foreign entities (“Intermediaries”), with the
with by this Report are in agreement with the books of understanding, whether recorded in writing
account. or otherwise, that the Intermediary shall,
d) In our opinion, the aforesaid standalone financial directly or indirectly lend or invest in other
statements comply with the Ind AS specified under persons or entities identified in any manner
Section 133 of the Act. whatsoever by or on behalf of the Company

(“Ultimate Beneficiaries”) or provide any v. The final dividend proposed in the previous year,
guarantee, security or the like on behalf of declared and paid by the Company during the
the Ultimate Beneficiaries. year is in accordance with Section 123 of the Act,
as applicable.
(b) The Management has represented, that,
to the best of its knowledge and belief, no As stated in Note 12 (a) to the financial statements,
funds (which are material either individually the Board of Directors of the Company have
or in the aggregate) have been received proposed final dividend for the year which is
by the Company from any person or subject to the approval of the members at the
entity, including foreign entities (“Funding ensuing Annual General Meeting. The amount of
Parties”), with the understanding, whether dividend proposed is in accordance with Section
recorded in writing or otherwise, that the 123 of the Act, as applicable.
Company shall, directly or indirectly, lend or 2. As required by the Companies (Auditor’s Report) Order, 2020
invest in other persons or entities identified (“the Order”) issued by the Central Government in terms
in any manner whatsoever by or on behalf of of Section 143(11) of the Act, we give in “Annexure B” a
the Funding Party (“Ultimate Beneficiaries”) statement on the matters specified in paragraphs 3 and 4 of
or provide any guarantee, security or the like the Order.
on behalf of the Ultimate Beneficiaries.
For DELOITTE HASKINS & SELLS LLP
(c) Based on the audit procedures that has been Chartered Accountants
considered reasonable and appropriate in (Firm’s Registration No. 117366W/W-100018)
the circumstances, nothing has come to our
notice that has caused us to believe that the Arunabha Bhattacharya
representations under sub-clause (i) and (ii) Partner
of Rule 11(e), as provided under (a) and (b) (Membership No. 054110)
above, contain any material misstatement. (UDIN: 22054110AHUUZQ3188)
Place : Kolkata
Date : April 26, 2022

ANNEXURE “A” TO THE INDEPENDENT AUDITOR’S REPORT

(Reffered to in paragraph 1 (f) under ‘Report on other Legal and Requirements’ sectrion of our report of even date
Report on the Internal Financial Controls Over Financial Meaning of Internal Financial Controls Over Financial
Reporting under Clause (i) of Sub-section 3 of Section 143 of Reporting
the Companies Act, 2013 (“the Act”) A company’s internal financial control over financial reporting is a
We have audited the internal financial controls over financial process designed to provide reasonable assurance regarding the
reporting of Tata Coffee Limited (“the Company”) as of 31 March, reliability of financial reporting and the preparation of financial
2022 in conjunction with our audit of the standalone Ind AS statements for external purposes in accordance with generally
financial statements of the Company for the year ended on that accepted accounting principles. A company’s internal financial
date. control over financial reporting includes those policies and
Management’s Responsibility for Internal Financial Controls procedures that (1) pertain to the maintenance of records that,
The Company’s management is responsible for establishing and in reasonable detail, accurately and fairly reflect the transactions
maintaining internal financial controls based on the internal and dispositions of the assets of the company; (2) provide
control over financial reporting criteria established by the reasonable assurance that transactions are recorded as necessary
Company considering the essential components of internal control to permit preparation of financial statements in accordance with
stated in the Guidance Note on Audit of Internal Financial Controls generally accepted accounting principles, and that receipts and
Over Financial Reporting issued by the Institute of Chartered expenditures of the company are being made only in accordance
Accountants of India. These responsibilities include the design, with authorisations of management and directors of the company;
implementation and maintenance of adequate internal financial and (3) provide reasonable assurance regarding prevention or
controls that were operating effectively for ensuring the orderly timely detection of unauthorised acquisition, use, or disposition
and efficient conduct of its business, including adherence to of the company’s assets that could have a material effect on the
company’s policies, the safeguarding of its assets, the prevention financial statements.
and detection of frauds and errors, the accuracy and completeness Inherent Limitations of Internal Financial Controls Over
of the accounting records, and the timely preparation of reliable Financial Reporting
financial information, as required under the Companies Act, 2013. Because of the inherent limitations of internal financial controls
Auditor’s Responsibility over financial reporting, including the possibility of collusion
Our responsibility is to express an opinion on the Company’s or improper management override of controls, material
internal financial controls over financial reporting of the Company misstatements due to error or fraud may occur and not be
based on our audit. We conducted our audit in accordance with detected. Also, projections of any evaluation of the internal
the Guidance Note on Audit of Internal Financial Controls Over financial controls over financial reporting to future periods are
Financial Reporting (the “Guidance Note”) issued by the Institute subject to the risk that the internal financial control over financial
of Chartered Accountants of India and the Standards on Auditing reporting may become inadequate because of changes in
prescribed under Section 143(10) of the Companies Act, 2013, conditions, or that the degree of compliance with the policies or
to the extent applicable to an audit of internal financial controls. procedures may deteriorate.
Those Standards and the Guidance Note require that we comply Opinion
with ethical requirements and plan and perform the audit to In our opinion, to the best of our information and according to
obtain reasonable assurance about whether adequate internal the explanations given to us, the Company has, in all material
financial controls over financial reporting was established and respects, an adequate internal financial controls system over
maintained and if such controls operated effectively in all material financial reporting and such internal financial controls over
respects. financial reporting were operating effectively as at 31 March, 2022,
Our audit involves performing procedures to obtain audit based on the criteria for internal financial control over financial
evidence about the adequacy of the internal financial controls reporting established by the Company considering the essential
system over financial reporting and their operating effectiveness. components of internal control stated in the Guidance Note on
Our audit of internal financial controls over financial reporting Audit of Internal Financial Controls Over Financial Reporting
included obtaining an understanding of internal financial issued by the Institute of Chartered Accountants of India.
controls over financial reporting, assessing the risk that a material For DELOITTE HASKINS & SELLS LLP
weakness exists, and testing and evaluating the design and Chartered Accountants
operating effectiveness of internal control based on the assessed (Firm’s Registration No. 117366W/W-100018)
risk. The procedures selected depend on the auditor’s judgement,
including the assessment of the risks of material misstatement of Arunabha Bhattacharya
the financial statements, whether due to fraud or error. Partner
We believe that the audit evidence we have obtained is sufficient (Membership No. 054110)
and appropriate to provide a basis for our audit opinion on the (UDIN: 22054110AHUUZQ3188)
Company’s internal financial controls system over financial Place : Kolkata
reporting. Date : April 26, 2022

ANNEXURE “B” TO THE INDEPENDENT AUDITOR’S REPORT
(Referred to in paragraph 2 under ‘Report on Other Legal and (ii) (a) The inventories were physically verified during the
Regulatory Requirements’ section of our report of even date) year by the Management at reasonable intervals. In
our opinion and according to the information and
(i) (a) (A) The Company has maintained proper records
explanations given to us, the coverage and procedure
showing full particulars, including quantitative
of such verification by the Management is appropriate
details and situation of Property, Plant and
having regard to the size of the Company and the
Equipment, Bearer plant, capital work-in-progress,
nature of its operations. No discrepancies of 10% or
investment properties and relevant details of
more in the aggregate for each class of inventories were
right-of-use assets.
noticed on such physical verification of inventories
(B) The Company has maintained proper records when compared with books of account.
showing full particulars of intangible assets.
(b) According to the information and explanations given to
(b) The Company has a program of verification of property, us, the Company has been sanctioned working capital
plant and equipment, Bearer plants, capital work in- limits in excess of `5 crores, in aggregate, at points of
progress, investment properties and right-of-use assets time during the year, from bank on the basis of security
so to cover all the items once every 3 years which, in of current assets. In our opinion and according to the
our opinion, is reasonable having regard to the size of information and explanations given to us, the quarterly
the Company and the nature of its assets. Pursuant to returns or statements comprising of value of closing
the program, certain Property, Plant and Equipment stock of inventory, receivables and payables filed by
were due for verification during the year and were the Company with such bank are in agreement with
physically verified by the Management during the year. the audited books of account of the Company of the
According to the information and explanations given respective quarters.
to us, no material discrepancies were noticed on such
(iii) a) The Company has provided loans or advances in the
verification.
nature of loans, stood guarantee or provided security
(c) Based on the examination of the registered sale to any other entity during the year and details of which
deed / transfer deed / conveyance deed provided are given below:
to us, we report that, the title deeds of all the
` lakh
immovable properties of land and buildings (other
than properties where the Company is the lessee and Loans Guarantees
the lease agreements are duly executed in favour of
the Company) disclosed in the financial statements Aggregate amount
included in property, plant and equipment, capital granted / provided
work in progress, investment property and non- during the year
current assets held for sale, are held in the name of - Others 3000 -
the Company as at the balance sheet date. In respect Balance outstanding as
of immovable and movable properties that have been at Balance Sheet date:*
taken on lease and disclosed in the financial statements
as right-of use asset as at the balance sheet date, the Subsidiary - 31361
lease agreements are duly executed in favour of the * The amounts reported are at gross amount, without
Company. considering provision made.
(d) The Company has not revalued any of its property, b) The investments made, guarantees provided, security
plant and equipment (including Right of Use assets) given and the terms and conditions of the grant of all
and intangible assets during the year. the above-mentioned loans and advances in the nature
(e) No proceedings have been initiated during the year or of loans and guarantees provided, during the year
are pending against the Company as at 31 March, 2022 are, in our opinion, prima facie, not prejudicial to the
for holding any benami property under the Benami Company’s interest.
Transactions (Prohibition) Act, 1988 (as amended in
2016) and rules made thereunder.

c) In respect of loans granted or advances in the nature (vi) The maintenance of cost records has been specified by the
of loans provided by the Company, the schedule of Central Government under Section 148(1) of the Companies
repayment of principal and payment of interest has Act, 2013 for manufacturing of coffee and tea. We have
been stipulated and the repayments of principal broadly reviewed the books of account maintained by the
amounts and receipts of interest are regular as per Company pursuant to the Companies (Cost Records and
stipulation. Audit) Rules, 2014, as amended, prescribed by the Central
Government for maintenance of cost records under Section
d) According to information and explanations given to
148(1) of the Companies Act, 2013, and are of the opinion
us and based on the audit procedures performed, in
that, prima facie, the prescribed cost records have been
respect of loans granted and advances in the nature of
made and maintained by the Company. We have, however,
loans provided by the Company, there is no overdue
not made a detailed examination of the cost records with a
amount remaining outstanding as at the balance sheet
view to determine whether they are accurate or complete.
date.
(vii) In respect of statutory dues:
e) No loan or advance in the nature of loan granted by
the Company which has fallen due during the year, has (a) Undisputed statutory dues, including Goods and
been renewed or extended or fresh loans granted to Service tax, Provident Fund, Employees’ State Insurance,
settle the overdues of existing loans given to the same Income-tax, Sales Tax, Service Tax, duty of Custom, duty
parties. of Excise, Value Added Tax, cess and other material
statutory dues applicable to the Company have
f ) According to information and explanations given to
been regularly deposited by it with the appropriate
us and based on the audit procedures performed, the
authorities in all cases during the year.
Company has not granted any loans or advances in the
nature of loans either repayable on demand or without There were no undisputed amounts payable in respect
specifying any terms or period of repayment during of Goods and Service tax, Provident Fund, Employees’
the year. Hence, reporting under clause (iii)(f ) is not State Insurance, Income-tax, Sales Tax, Service Tax, duty
applicable. of Custom, duty of Excise, Value Added Tax, cess and
other material statutory dues in arrears as at 31 March,
(iv) The Company has complied with the provisions of Sections
2022 for a period of more than six months from the
185 and 186 of the Companies Act, 2013 in respect of loans
date they became payable.
granted, investments made and guarantees and securities
provided, as applicable. (b) Details of statutory dues referred to in sub-clause (a)
above which have not been deposited as on 31 March,
(v) The Company has not accepted any deposit or amounts
2022 on account of disputes are given below:
which are deemed to be deposits. Hence, reporting under
clause (v) of the Order is not applicable.
Name of Statute Nature of Dues Amounts Amount Period to which the Forum where dispute is
Involved Unpaid Amount Relates pending
(` Lakh) (` Lakh)
Income Tax Act, 1961 Income Tax 1667.70 366.68 AY 2012-13 Commissioner of Income Tax
(including interest) 2930.14 731.85 AY 2015-16 (Appeals)
4149.32 1739.03 AY 2018-19

Andhra Pradesh VAT Sales Tax 2.82 1.40 FY 2005-06 Appellate Tribunal
& CST Acts

(viii) There were no transactions relating to previously unrecorded (xii) The Company is not a Nidhi Company and hence reporting
income that were surrendered or disclosed as income in the under clause (xii) of the Order is not applicable.
tax assessments under the Income Tax Act, 1961 (43 of 1961)
(xiii) In our opinion, the Company is in compliance with Section
during the year.
177 and 188 of the Companies Act, where applicable, for all
(ix) (a) In our opinion, the Company has not defaulted in transactions with the related parties and the details of related
the repayment of loans or other borrowings or in the party transactions have been disclosed in the financial
payment of interest thereon to any lender during the statements etc. as required by the applicable accounting
year. standards.
(b) The Company has not been declared willful defaulter (xiv) (a) In our opinion the Company has an adequate internal
by any bank or financial institution or government or audit system commensurate with the size and the
any government authority. nature of its business.
(c) The Company has not taken any term loan during (b) We have considered, the internal audit reports issued to
the year and there are no unutilised term loans at the the Company during the year and covering the period
beginning of the year and hence, reporting under
upto March 2022.
clause (ix)(c) of the Order is not applicable.
(xv) In our opinion during the year the Company has not entered
(d) On an overall examination of the financial statements
into any non-cash transactions with any of its directors or
of the Company, funds raised on short-term basis have,
directors of it’s holding company, subsidiary company or
prima facie, not been used during the year for long-
persons connected with such directors and hence provisions
term purposes by the Company.
of Section 192 of the Companies Act, 2013 are not applicable
(e) On an overall examination of the financial statements to the Company.
of the Company, the Company has not taken any funds
from any entity or person on account of or to meet the (xvi) The Company is not required to be registered under Section
obligations of its subsidiaries. 45-IA of the Reserve Bank of India Act, 1934. Hence, reporting
under clause (xvi)(a), (b) and (c) of the Order is not applicable.
(f ) The company has not raised any loans during the year
and hence reporting on clause (ix)(f ) of the Order is not (d) The Group has more than one CIC as part of the group.
applicable. There are six CIC forming part of the group
(x) (a) The Company has not issued any of its securities (xvii) The Company has not incurred cash losses during the
(including debt instruments) during the year and financial year covered by our audit and the immediately
hence reporting under clause (x)(a) of the Order is not preceding financial year.
applicable.
(xviii) There has been no resignation of the statutory auditors of
(b) During the year the Company has not made any the Company during the year.
preferential allotment or private placement of shares
(xix) On the basis of the financial ratios, ageing and expected dates
or convertible debentures (fully or partly or optionally)
of realization of financial assets and payment of financial
and hence reporting under clause (x)(b) of the Order is
liabilities, other information accompanying the financial
not applicable to the Company.
statements and our knowledge of the Board of Directors
(xi) (a) To the best of our knowledge, no fraud by the Company and Management plans and based on our examination
and no material fraud on the Company has been of the evidence supporting the assumptions, nothing has
noticed or reported during the year. come to our attention, which causes us to believe that
(b) To the best of our knowledge, no report under any material uncertainty exists as on the date of the audit
Sub-section (12) of Section 143 of the Companies Act report indicating that Company is not capable of meeting its
has been filed in Form ADT-4 as prescribed under rule liabilities existing at the date of balance sheet as and when
13 of Companies (Audit and Auditors) Rules, 2014 with they fall due within a period of one year from the balance
the Central Government, during the year and up to the sheet date. We, however, state that this is not an assurance as
date of this report. to the future viability of the Company. We further state that
our reporting is based on the facts up to the date of the audit
(c) As represented to us by the Management, there were
report and we neither give any guarantee nor any assurance
no whistle blower complaints received by the Company
that all liabilities falling due within a period of one year from
during the year and up to the date of this report.

the balance sheet date, will get discharged by the Company company included in the consolidated financial statements.
as and when they fall due. We have not reported any qualifications or adverse remarks
in the CARO report of the parent.
(xx) The Company has fully spent the required amount towards
Corporate Social Responsibility (CSR) and there are no
unspent CSR amount for the year requiring a transfer to a For DELOITTE HASKINS & SELLS LLP
Fund specified in Schedule VII to the Companies Act or special Chartered Accountants
account in compliance with the provision of Sub-section (6) (Firm’s Registration No. 117366W/W-100018)
of Section 135 of the said Act. Accordingly, reporting under
clause (xx) of the Order is not applicable for the year.
Arunabha Bhattacharya
(xxi) According to the information and explanations given to us, Partner
and based on the CARO report issued by and the information (Membership No. 054110)
provided by the auditors of the companies included in the (UDIN: 22054110AHUUZQ3188)
consolidated financial statements of the Company we report Place : Kolkata
that CARO is applicable only to the parent and to no other Date : April 26, 2022

Balance Sheet
as at March 31, 2022
₹ Lakh
Particulars Note 2022 2021
ASSETS
Non-current assets
Property, Plant and Equipment 1 (a) 38686.65 38793.06
Capital Work-in-progress 1 (a) 6369.18 4456.69
Right-of-Use Assets 1 (b) 122.91 11.36
Investment Property 2 1731.55 3316.93
Intangible Assets 3 143.60 169.19
Financial Assets
Investments 4 24687.93 22537.53
Loans 5 20.98 16.45
Other Financial Assets 6 22.94 22.32
Non-current Tax Assets 17 1288.13 1288.13
Other Non-current Assets 7 427.01 779.53
73500.88 71391.19
Current assets
Inventories including Biological Assets 8 39578.74 27729.40
Financial Assets
Investments 4 4093.73 3538.82
Trade Receivables 9 10676.26 10852.23
Cash and Cash Equivalents 10 848.73 5911.40
Other Bank Balances 10 9340.84 2968.79
Loans 5 177.76 7210.20
Other Current Assets 7 2958.40 2697.03
69273.03 63395.20
Non Current Assets held for sale 11 49.20 125.33
Total Assets 142823.11 134911.72
EQUITY AND LIABILITIES
Equity
Equity Share Capital 12 (a) 1867.70 1867.70
Other Equity 12 (b) 114580.75 107267.58
Total Equity 116448.45 109135.28
Liabilities
Non-current liabilities
Financial Liabilities
Lease Liabilities 14 (b) 87.94 7.12
Other Financial Liabilities 15 156.15 403.56
Provisions 16 3540.85 3915.70
Deferred Tax Liabilities (Net) 17 1813.40 1635.20
5598.34 5961.58
Current liabilities
Borrowings 14 (a) 7311.18 7300.04
Trade Payables:-
(a) Total outstanding dues of Micro and Small Enterprises 18 (a) 69.51 243.69
(b) Total outstanding dues of creditors other than Micro and Small Enterprises 18 (b) 4539.71 3631.10
Provisions 16 272.44 279.44
Current Tax Liabilities 17 62.65 172.37
Other Current Liabilities 19 1243.62 1547.96
20776.32 19814.86
Total Equity and Liabilities 142823.11 134911.72
The accompanying significant accounting policies and notes form an integral part of the standalone financial statements.
As per our Report of even date attached For and on behalf of the Board of Directors
For DELOITTE HASKINS & SELLS LLP CHACKO PURACKAL THOMAS K. VENKATARAMANAN
Chartered Accountants Managing Director & CEO Executive Director - Finance & CFO
ARUNABHA BHATTACHARYA S. VENKATRAMAN N. ANANTHA MURTHY

Partner Director Company Secretary
Membership No.054110
Place: Bengaluru

Statement of Profit and Loss

₹ Lakh
INCOME
Revenue from operations 20 81689.11 73663.70
Other Income 21 7033.24 7791.38
Total Income 88722.35 81455.08
EXPENSES
Cost of materials consumed 22 (a) 29056.50 22753.24
Purchases of Stock-in-trade 22 (b) 12088.02 9533.56
Changes in Inventories of finished goods, work-in-progress, Stock-in-trade and Biological 22 (c) (9137.39) (1448.19)
Assets
Employee benefits expense 23 21534.48 19596.41
Finance costs 24 451.60 487.82
Depreciation and amortisation expense 2443.91 2424.70
Other expenses 25 20025.59 16248.93
Total Expenses 76462.71 69596.47
Profit before exceptional items and tax 12259.64 11858.61
Exceptional Items 26 (92.10) -
Profit before tax 12167.54 11858.61
Tax Expense
Current tax 17 1854.65 1721.99
Deferred tax 17 128.66 56.80
Total tax expense 1983.31 1778.79
Profit for the year 10184.23 10079.82

Other Comprehensive Income (69.51) 1231.12
Items that will not be reclassified to profit / (loss) 5.84 444.26
Remeasurements of the defined benefit plans 70.84 459.36
Equity instruments through other comprehensive income 0.33 0.79
Income tax relating to items that will not be reclassified to profit or loss (65.33) (15.89)
Items that will be reclassified to profit/ (loss) (75.35) 786.86
Effective portion of Gains/(Loss) in cash flow hedges (91.14) 1022.49
Income tax on items that will be reclassified to profit or loss 15.79 (235.63)
Total Comprehensive Income for the year 10114.72 11310.94
Earnings per equity share
Basic & Diluted 36 5.45 5.40

Place: Bengaluru

₹ Lakh
136
Equity Other Equity Total Other Total Equity
Surplus Items of Other Comprehensive Income Equity
Number of Equity Capital Securities General General Amalgamation Retained Equity Effective Actuarial
Shares Share Redemption Premium Reserves I Reserves II Reserves Earnings instruments portion of Gain/(Loss)
Capital Reserve through Other Cash Flow as at March 31, 2022
Comprehensive Hedges
Income
Balance as at April 1, 2020 186770370 1867.70 10.41 14424.27 16795.30 11765.64 832.53 56233.66 (0.05) (550.70) (1328.74) 98182.32 100050.02
Profit for the period 10079.82 10079.82 10079.82
Other Comprehensive Income for 0.79 786.86 443.47 1231.12 1231.12
the period, net of Income Tax
Total Comprehensive Income for - - - - - 10079.82 0.79 786.86 443.47 11310.94 11310.94
the period
Celebrating Goodness. Since 1922

Dividends (2801.55) (2801.55) (2801.55)
Transfer from Retained Earnings 826.94 (826.94) - -
Reversal of Dividend Distribution 575.87 575.87 575.87
Tax
Balance as at April 1, 2021 186770370 1867.70 10.41 14424.27 16795.30 12592.58 832.53 63260.86 0.74 236.16 (885.27) 107267.58 109135.28
Profit for the period 10184.23 10184.23 10184.23
Other Comprehensive Income for 0.33 (75.35) 5.51 (69.51) (69.51)
the period, net of Income Tax
Total Comprehensive Income for - - - - - 10184.23 0.33 (75.35) 5.51 10114.72 10114.72
the period
Dividends (2801.55) (2801.55) (2801.55)
Statement of Changes in Equity
Transfer from Retained Earnings 1597.08 (1597.08) - -

Balance as at March 31, 2022 186770370 1867.70 10.41 14424.27 16795.30 14189.66 832.53 69046.46 1.07 160.81 (879.76) 114580.75 116448.45

Place: Bengaluru
Cash Flow Statement

₹ Lakh
Particulars 2022 2021
Cash flows from operating activities
Profit Before Tax for the year 12167.54 11858.61
Adjustments for:
Depreciation and amortisation 2443.91 2424.70
Interest Income (528.53) (711.27)
Dividend Income from Investments in Subsidiary (4484.00) (4412.06)
Dividend income from Other Non Current Investments (0.01) (0.02)
Net Gain on Sale of Current Investments (129.92) (211.72)
Loss / (Gain) on investments carried at fair value through profit or loss (20.54) 68.92
Rental Income from Investment Property (242.02) (381.07)
Finance Costs 451.60 487.82
Unrealised foreign exchange (gain) / loss (47.95) 385.78
Exceptional Items 92.10 -
(Profit) / loss on sale of Property, Plant and Equipment 47.92 (1300.48)
Profit on Sale of Biological Assets - Timber (Net) (1597.08) (826.94)
Sub-Total (4014.52) (4476.34)
Operating Profit Before Working Capital Changes 8153.02 7382.27
Movements in Working Capital
Trade Receivables 223.92 (73.94)
Other Financial Assets 679.98 627.67
Loans 27.91 130.17
Other Current and Non-current Assets 68.30 (148.97)
Inventories including Biological Assets (11849.34) (2558.04)
Trade Payables 734.43 81.60

Other Financial Liabilities 423.89 (522.87)
Other Current Liabilities (304.34) (296.53)
Provisions (480.83) (97.24)
Changes in Working Capital (10476.08) (2858.15)
Cash Generated from Operations (2323.06) 4524.12
Income taxes paid (1964.37) (1655.47)
Net Cash Flows (Used in) / from Operating Activities (A) (4287.43) 2868.65

Cash Flow Statement [Contd.]
₹ Lakh
Cash flows from investing activities
Interest received 645.55 318.54
Dividends received from Subsidiary 4484.00 4412.06
Other dividends received 0.01 0.02
Payments for property, plant and equipment and Intangibles (4407.42) (2192.24)
Rental Income from Investment Property 242.02 381.07
Proceeds from Sale of property, plant and equipment/Investment Property 1708.14 3063.15
Profit on Sale of Biological Assets - Timber (Net) 1597.08 826.94
Inter Corporate Deposits Redeemed/(Placed) (Net) 7000.00 (7000.00)
Net cash outflow on Purchase/Sale of Mutual Funds (404.45) 7508.01
Movement in Other Bank Balances (6383.70) (2730.00)
Investment in Subsidiary (2165.22) -
Sale/(Purchase) of Non-current Investments (Net) 15.15 1.50
Net Cash Flows from Investing Activities (B) 2331.16 4589.05
Cash flows from financing activities

Proceeds from Current Borrowings (Net) 11.14 197.32
Payment of finance lease obligations (33.98) (16.31)
Dividend / Dividend Tax (2801.55) (2801.55)
Proceeds from refund of Dividend Distribution Tax earlier paid - 907.00
Finance Cost paid (282.01) (266.45)
Net Cash Flows used in Financing Activities (C ) (3106.40) (1979.99)
Net Increase In Cash and Cash Equivalents (A+B+C) (5062.67) 5477.71
Cash and cash equivalents at the beginning of the year 5911.40 433.69
Cash and cash equivalents at the end of the year 848.73 5911.40

Place: Bengaluru

Notes
to the Standalone Financial Statements for the year ended March 31, 2022
1. General Information 2.2 Significant Accounting Policies:

Tata Coffee Limited (“the Company”) and its subsidiaries The principal accounting policies applied in the
(together “the Group”) are engaged in the production, preparation of the financial statements are set out
trading and distribution of Coffee, Tea and Allied products. below. These policies have been consistently applied
The Group has business operations mainly in India, USA and to all the years presented, unless otherwise stated.
CIS countries, Europe, Africa and Vietnam.
(a) Property, Plant and Equipment
The Company is a public limited company incorporated and
domiciled in India and has its registered office at Pollibetta, i) Recognition and measurement: Property,
Kodagu, Karnataka, India. The Company has its listings on plant and equipment including bearer assets
BSE Limited and National Stock Exchange of India Limited. are carried at historical cost of acquisition or
deemed cost less accumulated depreciation
The Financial Statements for the year ended March 31, 2022 and accumulated impairment loss, if
were approved for issue by Company’s Board of Directors on any. Historical cost includes its purchase
April 26, 2022. price, including import duties and non-
refundable purchase taxes after deducting
2. Preparation and Presentation of Financial Statements trade discounts and rebates and any cost
directly attributable to bringing the asset
2.1
Basis of preparation and measurement to the location and condition necessary for
it to be capable of operating in the manner
a) Basis of preparation
intended by management. Subsequent
The financial statements are prepared in expenditure related to an asset is added to
accordance with and in compliance, in all material its book value only when it is probable that
aspects, with Indian Accounting Standards (Ind future economic benefits associated with
AS) notified under Section 133 of the Companies the item will flow to the Company and the
Act, 2013 (the “Act”) read along with Companies cost of the item can be measured reliably.
(Indian Accounting Standards) Rules, as amended The carrying amount of the replaced part is
and other provisions of the Act. On March 24, derecognized. All repairs and maintenance
2021, the Ministry of Corporate Affairs (MCA) are charged to the Statement of Profit and
through a notification, amended Schedule III of Loss during the financial year in which these
the Companies Act, 2013 and the amendments are incurred.
are applicable for financial periods commencing
from April 1, 2021. The Company has evaluated ii) Depreciation: Depreciation is provided on
the effect of the amendments on its financial assets to get the initial cost down to the
statements and complied with the same. residual value. Land is not depreciated.
Depreciation is provided on a straight-
b) Basis of measurement line basis over the estimated useful life of
the asset or as prescribed in Schedule II
The financial statements have been prepared to the Companies Act, 2013 or based on
on an accrual basis and in accordance with the a technical evaluation of the asset. Cost
historical cost convention, unless otherwise incurred on assets under development are
stated. All assets and liabilities are classified into disclosed under capital work in progress
current and non-current generally based on the and not depreciated till asset is ready to use
nature of product/activities of the Company and i.e. when it is in the location and condition
the normal time between acquisition of assets/ necessary for it to be capable of operating
liabilities and their realisation/settlement in cash in the manner intended by management.
or cash equivalent. The Company has determined Estimated useful life of items of Property,
its operating cycle as 12 months for the purpose Plant and Equipment are as follows:
of classification of its assets and liabilities as
current and non-current.

Notes
Type of Assets Estimated being sold as agricultural produce, except

Useful Life for incidental scrap sales.
(in years)
Tea bushes, Coffee bushes, Pepper vines,
Leasehold Land Perpetual Lease
Cardamom tiller and Shade trees are
Buildings including Water 28-58
recognised as Bearer biological assets. These
supply System
are classified as Mature Bearer Plants and
Roads/Carpeted/Non- 10
Carpeted Immature Bearer Plants. Mature Bearer Plants
are those that have attained harvestable
Irrigation Systems 10-20
stage. Cost incurred for new plantations and
Electrical Installations 20
immature areas are capitalised. Cost includes
Plant & Machinery - 18
cost of land preparation, new planting and
Continuous Process
maintenance till maturity. The cost of areas
Plant & Machinery – Others 20
coming into bearing is transferred to mature
Furniture & Fittings 15
plantations and depreciated over their
Computers 6
estimated useful lives.
Motor Vehicles 10
Office Equipment 5 Bearer plants relating to Coffee and Tea
bushes, Pepper vines and minor produces
The residual values and useful lives for attain a harvestable stage in about 3-5 years.
depreciation of property, plant and
equipment are reviewed at each financial Bearer biological assets are carried at cost less
year end and adjusted prospectively, if accumulated depreciation and accumulated
appropriate. impairment loss, if any. Subsequent
expenditure on bearer assets are added to
An asset’s carrying amount is written down its book value only when it is probable that
immediately to its recoverable amount if the future economic benefits associated with
asset’s carrying amount is greater than its the item will flow to the Company and the
estimated recoverable amount. Recoverable cost of the item can be measured reliably.
amount is higher of the value in use or
exchange. Mature bearer plants are depreciated
over their estimated useful life. Immature
Gains and losses on disposals are determined bearer plants are tested for impairment /
by comparing the sale proceeds with the obsolescence. The estimated useful life of
carrying amount and are recognised in the mature bearer plants is as follows:
Statement of Profit and Loss.
Type of Bearer Biological Assets Estimated
(b)
Biological Assets Useful Life
Biological assets are classified as Bearer biological (in years)
assets, and agricultural produce. Bearer Biological Arabica Coffee Plants 30
Assets which are held to bear agricultural produce Robusta Coffee Plants 58
are classified as Bearer plants. Tea Bushes 58
Pepper Vines & Cardamom Tillers 35
Bearer plants are recognised under Property, Plant
Silver oak and Shade 35
and Equipment on fulfilment of the following
Management Trees
conditions.
Refer Para 2.2. (h) for accounting of
1. Is used in the production or supply of agricultural produce.
agricultural produce;
2. Is expected to bear produce for more than (c) Investment Property
one period; and has a remote likelihood of Property that is held for long-term rental yields or
for capital appreciation or both, and that is not used

Notes
in the production of goods and services or for the - the Company is committed to selling the
administrative purposes is classified as investment asset;
property. Investment property is measured initially
- the assets are available for sale immediately;
at cost, including transaction costs. Subsequent
to initial recognition, investment properties are - an active plan of sale has commenced; and
stated at cost less accumulated depreciation and
- sale is expected to be completed within 12
accumulated impairment losses, if any. Subsequent
months.
expenditure related to investment properties are
added to its book value only when it is probable Assets held for sale and disposal groups are
that future economic benefits associated with measured at the lower of their carrying amount
the item will flow to the Company and the cost and fair value less cost to sell. Assets held for sale
of the item can be measured reliably. Investment are no longer amortised or depreciated.
properties are depreciated using the straight-
line method over the estimated useful lives. The (g) Financial Instruments
Company’s depreciable investment properties Financial assets
have a useful life of 50 years.
The Company classifies its financial assets in the
(d) Intangible Assets - Computer software following categories:
Acquired computer software licences are i) Financial assets at amortised cost- Assets
capitalised on the basis of the costs incurred to that are held for collection of contractual cash
acquire and bring to use the specific software. flows where those cash flows represent solely
These costs are amortised over their estimated payments of principal and interest are measured
useful lives of 3 to 5 years. at amortised cost.
These are presented as current assets, except for
(e) Impairment of Tangible and Intangible assets
those maturing later than 12 months after the
Assets that are subject to depreciation or reporting date which are presented as non-current
amortisation are reviewed for impairment assets. Financial assets are measured initially
whenever events or changes in circumstances at fair value which usually represents cost plus
indicate that the carrying amount may not be transaction costs and subsequently, if maturing
recoverable. An impairment loss is recognised after 12 months period, carried at amortised
for the amount by which the asset’s carrying cost using the effective interest method, less any
amount exceeds its recoverable amount. The impairment loss.
recoverable amount is the higher of an asset’s
fair value less costs of disposal and value in Financial assets at amortised cost are represented
use. For the purposes of assessing impairment, by trade receivables, security and other deposits,
assets are grouped at the lowest possible levels cash and cash equivalent, employee and other
for which there are independent cash inflows advances.
(cash-generating units). Prior impairment of non- ii) Financial Assets at Fair Value through Other
financial assets (other than goodwill) are reviewed Comprehensive Income (FVTOCI) – All
for possible reversal of impairment losses at each equity investments are measured at fair values.
reporting date. Intangible assets that have an Investments which are not held for trading
indefinite useful life or intangible assets not ready purposes and where the Company has exercised
to use are not subject to amortisation and are the option to classify the investment as at FVTOCI,
tested annually for impairment. all fair value changes on the investment are
recognised in Other Comprehensive Income (OCI).
(f) Non-current assets held for sale The accumulated gains or losses are recognised in
Non-current assets held for sale are presented OCI are reclassified to retained earnings on sale of
separately in the Balance Sheet when the such investment.
following criteria are met:

Notes
iii) Financial assets at Fair Value through Profit (a) hedges of the fair value of recognised assets
and loss (FVTPL) - Financial assets which are or liabilities (fair value hedge); or
not classified in any of the categories above are
(b) hedges of a particular risk associated with
measured at FVTPL. These include surplus funds
a firm commitment or a highly probable
invested in mutual funds etc.
forecasted transaction (cash flow hedges).
iv) Impairment of financial assets - The Company
The Company documents at the inception of the
assesses expected credit losses associated with
transaction the relationship between hedging
its assets carried at amortised cost and fair value
instruments and hedged items, as well as its
through other comprehensive income based
risk management objectives and strategy for
on Company’s past history of recovery, credit-
undertaking various hedging transactions. The
worthiness of the counter party and existing
Company also documents its assessment, both
market conditions. The impairment methodology
at hedge inception and on an on-going basis, of
applied depends on whether there has been
whether the derivatives that are used in hedging
a significant increase in credit risk. For trade
transactions are effective in offsetting changes in
receivables, the Company applies the simplified
cash flows of hedged items.
approach for recognition of impairment
allowance as provided in Ind AS 109 – Financial Movements in the hedging reserve are accounted
Instruments, which requires expected lifetime in other comprehensive income and are shown
losses to be recognised on initial recognition of within the statement of changes in equity. The
the receivables. full fair value of a hedging derivative is classified
as a non-current asset or liability when the
Financial liabilities
remaining maturity of hedged item is more than
Initial recognition and measurement 12 months and as a current asset or liability when
the remaining maturity of the hedged item is less
All financial liabilities are recognised initially at fair
than 12 months. Trading derivatives are classified
value and in case of loans and borrowings net of
as a current asset or liability.
directly attributable costs.
(a)
Fair value hedges
Financial liabilities are subsequently measured at
amortised cost using effective interest method. Changes in the fair value of derivatives that
For trade and other payable maturing within one are designated and qualify as fair value
year from the Balance Sheet date, the carrying hedges are recorded in the Statement of
value approximates fair value due to short Profit and Loss, together with any changes in
maturity of these investments. the fair value of the hedged asset or liability
that are attributable to the hedged risk.
Derivative financial instruments and hedging
activities (b)
Cash flow hedges
A derivative is a financial instrument which The effective portion of changes in the fair
changes value in response to changes in an value of derivatives that are designated and
underlying asset and is settled at a future date. qualify as cash flow hedges is recognised
Derivatives are initially recognised at fair value in other comprehensive income. The
on the date a derivative contract is entered into ineffective portion of changes in the fair
and are subsequently re-measured at their fair value of the derivative is recognised in the
value. The method of recognising the resulting Statement of Profit and Loss.
gain or loss depends on whether the derivative is
Gains or losses accumulated in equity are
designated as a hedging instrument, and if so, the
reclassified to the Statement of Profit and
nature of the item being hedged. The Company
Loss in the periods when the hedged item
designates certain derivatives as either:
affects the Statement of Profit and Loss.

Notes
When a hedging instrument expires or using inputs that are not based on
swapped or unwound, or when a hedge observable market data (unobservable
no longer meets the criteria for hedge inputs).
accounting, any accumulated gain or loss
existing in statement of changes in equity (h) Inventories including Agricultural Produce
is recognised in the Statement of Profit and Produce growing on Bearer plant is Biological
Loss. asset and are fair valued based on the
When a forecasted transaction is no longer biological transformation, except where on
expected to occur, the cumulative gains/ initial recognition quoted market prices are
losses that were reported in equity are not available and alternate fair value measures
immediately transferred to the Statement of are clearly unreliable in which case biological
Profit and Loss. asset is measured at cost less any accumulated
depreciation and impairment loss.
Financial Guarantee Contracts
Tea, Coffee, Pepper and minor crops are
A financial guarantee contract is a contract designated as agricultural produce as per Ind AS
that requires the issuer to make specified 41 and are measured at their fair value less cost
payments to reimburse the holder for a loss it to sell at the point of harvest. Any changes in fair
incurs because the beneficiary fails to make value are recognised in the Statement of Profit
payments when due in accordance with and Loss in the year in which these arise upon
the terms of a debt instrument. Financial harvest. The fair valuation so arrived at becomes
guarantee contracts issued by the Company the cost of Inventory under Ind AS-2.
are measured at their applicable fair values.
Raw materials, work in progress, traded and
Fair value measurement finished goods are stated at the lower of cost and
The Company classifies the fair value of net realisable value, net realisable value represents
its financial instruments in the following the estimated selling price less all estimated cost
hierarchy, based on the inputs used in their of completion and selling expenses. Stores and
valuation: spares are carried at cost. Provision is made for
obsolete, slow-moving and defective stocks,
i)
Level 1: The fair value of financial where necessary.
instruments quoted in active markets
is based on their quoted closing price (i) Employee Benefits
at the Balance Sheet date.
The Company operates various post-employment
ii)
Level 2: The fair value of financial schemes, including both defined benefit and
instruments that are not traded in an defined contribution plans and post-employment
active market is determined by using medical plans. Short term employee benefits are
valuation techniques using observable recognized on an undiscounted basis whereas
market data. Such valuation techniques Long term employee benefits are recognized on
include discounted cash flows, a discounted basis.
standard valuation models based on
i) Post retirement employee benefits:
market parameters for interest rates,
yield curves or foreign exchange rates, Contribution to post retirement defined
dealer quotes for similar instruments benefit and contribution schemes like
and use of comparable arm’s length Provident Fund (PF) and Superannuation
transactions. Schemes and other such schemes are
accounted for on accrual basis by the
iii)
Level 3: The fair value of financial
Company. With regard to PF contribution
instruments that are measured on
made by the Holding Company to a Self-
the basis of entity specific valuations
Administered Trust, Company is generally

Notes
liable for annual contributions and for any settle the present obligation at the end of the
shortfall in the fund assets based on the reporting period, taking into account the risks and
government specified minimum rates of uncertainties surrounding the obligation.
return. Such contributions and shortfalls
These estimates are reviewed at each reporting
are recognised as an expense in the year
date and adjusted to reflect the current best
incurred.
estimates. If the effect of the time value of
Post retirement defined benefits including money is material, provisions are discounted.
gratuity, pension and medical benefits (for The discount rate used to determine the present
qualifying executives/whole time directors) value is a pre-tax rate that reflects current market
as provided by the Company are determined assessments of the time value of money and the
through independent actuarial valuation, risks specific to the liability. The increase in the
at year end and charge recognised in the provision due to the passage of time is recognised
Statement of Profit and Loss. Interest costs as interest expense.
on employee benefit schemes have been
Contingent liabilities exist when there is a possible
classified within finance cost. For schemes,
obligation arising from past events, the existence
where funds have been set up, annual
of which will be confirmed only by the occurrence
contributions determined as payable in the
or non-occurrence of one or more uncertain
actuarial valuation report are contributed.
future events not wholly within the control of the
Re-measurements. Remeasurements as
Company, or a present obligation that arises from
a result of experience adjustments and
past events where it is either not probable that
changes in actuarial assumptions are
an outflow of resources will be required or the
recognised in other comprehensive income.
amount cannot be reliably estimated. Contingent
Such accumulated re-measurement balances
liabilities are appropriately disclosed unless the
are never reclassified into the Statement of
possibility of an outflow of resources embodying
Profit and Loss subsequently. The Company
economic benefits is remote.
recognises in the Statement of Profit and
Loss, gains or losses on curtailment or A contingent asset is a possible asset arising
settlement of a defined benefit plan as and from past events, the existence of which will
when the curtailment or settlement occurs. be confirmed only by the occurrence or non-
occurrence of one or more uncertain future
ii) Other employee benefits:
events not wholly within the control of the
Other employee benefits are accounted for Company. Contingent assets are not recognised
on accrual basis. Liabilities for compensated till the realisation of the income is virtually certain.
absences are determined based on However, the same are disclosed in the financial
independent actuarial valuation at year end statements where an inflow of economic benefit
and charge is recognised in the Statement of is possible.
Profit and Loss.
(k)
Income Tax
(j) Provisions, contingent liabilities and contingent i) Current Income Tax:
assets
Current Income Tax is measured at the
Provisions are recognised when the Company
amount expected to be paid to the tax
has a present obligation (legal or constructive)
authorities in accordance with local laws
as a result of a past event, it is probable that an
of various jurisdiction where the Company
outflow of economic benefits will be required to
operates.
settle the obligation, and a reliable estimate can
be made of the amount of the obligation. ii) Deferred Tax:
The amount recognized as a provision is the Deferred tax is provided using the Balance
best estimate of the consideration required to Sheet approach on temporary differences

Notes
between the tax bases of assets and liabilities customer. Performance obligations are
and their carrying amounts for financial satisfied at the point of time when the
reporting purposes at the reporting date. customer obtains controls of the asset.
Deferred tax assets are recognised to the Revenue is measured based on transaction
extent that it is probable that taxable price, which is the fair value of the
profit will be available against which the consideration received or receivable, stated
deductible temporary differences, and the net of discounts, returns and value added
carry forward of unused tax credits and tax. Transaction price is recognised based
unused tax losses can be utilised. on the price specified in the contract, net
of the estimated sales incentives/discounts.
The tax rates and tax laws used to compute
Accumulated experience is used to estimate
the tax are those that are enacted or
and provide for the discounts/right of return,
substantively enacted at the reporting date.
using the expected value method.
Current and Deferred Tax are recognised
(ii) Interest and dividend income
in the Statement of Profit and Loss except
to items recognised directly in Other Interest income is recognised using the
Comprehensive income or equity in which effective interest method.
case the deferred tax is recognised in
When a loan and receivable is impaired, the
other comprehensive income and equity
Company reduces the carrying amount to
respectively.
its recoverable amount, being the estimated
future cash flow discounted at the original
(l) Foreign currency translations
effective interest rate of the instrument
Foreign currency transactions and balances: and continues unwinding the discount as
Transactions in foreign currencies are recorded interest income. Interest income on impaired
at the exchange rate that approximates the loan and receivables is recognised using the
prevalent exchange rate on the transaction original effective interest rate.
date. Monetary assets and liabilities in foreign Dividend income is recognised when the
currencies are translated at the year-end rate. Any right to receive payment is established.
resultant exchange differences are taken to the Income from investments are accounted on
Statement of Profit and Loss, except an accrual basis.
When deferred, in Other Comprehensive Income
as qualifying cash flow hedges; (n)
Government Grants
Government grants including any non-monetary
Non-monetary assets and liabilities denominated
grants are recognised where there is reasonable
in a foreign currency and measured at historical
assurance that the grant will be received, and all
cost are translated at the exchange rate prevalent
attached conditions will be complied with.
at the date of transaction.
Government grants are recognised in the
(m)
Revenue Recognition Statement of Profit and Loss on a systematic basis
(i) Revenue from contracts with customers over the periods in which the related costs, for
which the grants are intended to compensate, are
Revenue from contract with customers is recognised as expenses.
recognised when the Company satisfies
performance obligation by transferring Government grants related to property, plant and
promised goods and services to the equipment are presented at fair value and grants
are recognised as deferred income.

Notes
(o)
Leases items of income or expense that have to be shown
As a lessee separately due to the significance of their nature
or amount.
Lease of assets, where the Company, as a lessee,
has substantially assumed all the risks and rewards (r) Earnings per share
of ownership are recognised as Leases for all leases
The Company presents basic and diluted earnings
above 12 months, unless the underlying asset is
per share data for its equity shares. Basic and
of low value. Assets classified are capitalised and
diluted earnings per share is calculated by
depreciated as per Company’s policy on Property,
dividing the profit or loss attributable to owners
Plant and Equipment. The corresponding lease
of the equity shares of the Holding Company by
rental obligations, net of finance charges, are
the weighted average number of equity shares
included in borrowings or other financial liabilities
outstanding during the year.
as appropriate. Each lease payment is allocated
between the liability and finance cost. The finance
(s) Segment Reporting
cost is charged to the Statement of Profit and Loss
over the lease period so as to produce a constant Segments are identified based on the manner
periodic rate of interest on the remaining balance in which the Chief Operating Decision Maker
of the liability for each year. (‘CODM’) decides about resource allocation and
reviews performance.
As a lessor
Segment results that are reported to the CODM
Lease income from operating leases where the include items directly attributable to a segment
Company is a lessor is recognised in the Statement as well as those that can be allocated on a
of Profit and Loss on a straight- line basis over the reasonable basis. Segment capital expenditure
lease term unless the receipts are structured to is the total cost incurred during the period to
increase in line with expected general inflation acquire property and equipment and intangible
to compensate for the expected inflationary cost assets other than goodwill.
increases.
(t) Cash and cash equivalents
(p)
Borrowing Costs
Cash and cash equivalents for the purpose
Borrowing costs consist of interest, ancillary and of presentation in the statement of cash
other costs that the Company incurs in connection flows comprises of cash at bank and in hand,
with the borrowing of funds and interest relating bank overdraft and short term highly liquid
to other financial liabilities. Borrowing costs investments/bank deposits with an original
also include exchange differences to the extent maturity of three months or less that are readily
regarded as an adjustment to the borrowing costs. convertible to known amounts of cash and are
Borrowing costs directly attributable to the subject to an insignificant risk of changes in value.
acquisition, construction or production of an
asset that necessarily takes a substantial period (u) Offsetting instruments
of time to get ready for its intended use or sale Financial assets and liabilities are offset and the
are capitalised as part of the cost of the asset. All net amount reported in the Balance Sheet when
other borrowing costs are expensed in the period there is a legally enforceable right to offset the
in which these occur. recognised amounts and there is an intention
to settle on a net basis or realise the asset and
(q)
Exceptional Items settle the liability simultaneously. The legally
Exceptional items are disclosed separately in the enforceable right must not be contingent on
financial statements where it is necessary to do so future events and must be enforceable in the
to provide further understanding of the financial normal course of business and in the event of
performance of the Company. These are material default, insolvency or bankruptcy of the Company
or the counterparty.

Notes
(v) Events after the reporting period changes in these assumptions will impact the
Adjusting events are events that provide further carrying amount of obligations. The discount rate
evidence of conditions that existed at the end of is based on the prevailing market yields of Indian
the reporting period. The financial statements are Government securities as at the Balance Sheet date
adjusted for such events before authorisation for for the estimated term of the obligations.
issue.
iii. Fair valuation
Non-adjusting events are events that are indicative
All financial instruments are required to be fair
of conditions that arose after the end of the
valued as at the Balance Sheet date, as provided
reporting period. Non-adjusting events after the
in Ind AS 109 and Ind AS 113. Being a critical
reporting date are not accounted but disclosed.
estimate, judgement is exercised to determine
2.3 Key accounting judgement, estimates and the carrying values. The fair value of financial
assumptions instruments that are unlisted and not traded in an
active market is determined at fair values assessed
The preparation of the financial statements required
based on recent transactions entered into with
the Management to exercise judgment and to make
third parties, based on valuation done by external
estimates and assumptions. The Management has
appraisers etc., as applicable.
considered the possible effects, if any, that may result
from the pandemic relating to COVID-19 on the carrying
iv. Valuation of Agricultural Produce
amounts of its assets. In developing the assumptions
and estimates relating to the uncertainties as at the Produce growing on Bearer plants are Biological
Balance Sheet date in relation to the recoverable Assets and are ‘fair valued’ based on biological
amounts of these assets, the Management has transformations. As Coffee and Pepper undergo
considered the global economic conditions prevailing biological transformations, the same are
as at the date of approval of these financial statements ‘fair valued’ only when the growth can be
and has used internal and external sources of measured reliably. As at the Balance Sheet date,
information to the extent determined by it. The actual the Management has determined that it can
outcome of these assumptions and estimates may vary reliably measure the biological transformations
in future due to the impact of the pandemic. of its growing produce and such growing
produce and agricultural produce (comprising
The areas involving critical estimates or judgements growing produce and produce at harvest) have
are: been measured at ‘fair values’ based on the
Management’s estimates of expected produce
i. Depreciation and amortisation and grade of produce considering the assessment
Depreciation and amortisation are based on of the biological transformations observed at
management estimates of the future useful lives of the year end and assumption of factors such as
the property, plant and equipment and intangible weather patterns, crop health until harvest and
assets. Estimates may change due to technological crop characteristics, etc., which are susceptible
developments, competition, changes in market to variations. ‘Fair values’ have been assessed at
conditions and other factors and may result in market prices at the reporting date and adjusted
changes in the estimated useful life and in the for estimates of costs to be incurred from the
depreciation and amortisation charges. reporting date until harvest. Considering the
susceptibility of the estimates to variations,
ii. Employee Benefits these estimates and assumptions are reviewed
The present value of the defined benefit periodically / at every reporting date until harvest
obligations depends on a number of factors that and revisions to the ‘fair values’ carried out on a
are determined on an actuarial basis using various cumulative basis. Such variations are considered
assumptions. The assumptions used in determining as change in estimates and are presented as part
the net cost/(income) includes the discount rate, of Changes in inventories of Finished Goods, Work
wage escalation and employee attrition. Any in Progress, Stock-in-trade and Biological Assets.

Note No. 1 (a): Property, Plant and Equipment
148
₹ Lakh
Particulars Freehold Leasehold Buildings Water and Electrical Plant & Furniture Computers Office Motor Bearer Total Capital Bearer Total
Land and Land and Sanitary Installations Machinery & Fixtures Equipment Vehicles Plants
Property, Work in Plants in Capital
Development Development Installations Plant and Progress Progress Work in
Notes
Equipment Progress
Gross Carrying Value as at 7242.78 829.99 10011.43 1727.64 2152.35 21244.32 328.63 423.34 302.14 1075.79 1521.03 46859.45 897.64 4633.25 5530.89
April 1, 2020
Additions - - 182.49 25.89 79.52 1496.73 9.40 47.13 69.57 88.79 1058.11 3057.63 (787.84) 771.75 (16.09)
Disposals (9.09) - - (9.39) (10.66) (667.68) (17.22) (115.29) (8.63) (143.99) - (981.95) - - -
Transfers/Adjustments - - - - - - - - - - - - - (1058.11) (1058.11)
Gross Carrying Value as at 7233.69 829.99 10193.92 1744.14 2221.21 22073.37 320.81 355.18 363.08 1020.59 2579.14 48935.13 109.80 4346.89 4456.69

April 1, 2021
Additions - - 660.37 32.61 101.09 716.43 28.74 15.74 93.47 - 786.52 2434.97 1819.70 879.31 2699.01
Disposals - - (4.15) (13.03) (51.38) (239.38) (3.84) (4.87) (8.48) (256.09) - (581.22) - - -
Transfers/Adjustments - - - - - - - - - - - - - (786.52) (786.52)
Gross Carrying Value as at March 7233.69 829.99 10850.14 1763.72 2270.92 22550.42 345.71 366.05 448.07 764.50 3365.66 50788.88 1929.50 4439.68 6369.18
31, 2022
Accumulated Depreciation Freehold Leasehold Buildings Water and Electrical Plant & Furniture Computers Office Motor Bearer Total Capital Bearer Total
Land and Land and Sanitary Installations Equipment & Fixtures Equipment Vehicles Plants Property, Work in Plants in Capital
Equipment Progress
Accumulated Depreciation as at - - 1323.84 208.40 484.45 5943.67 109.49 193.78 127.70 228.93 66.62 8686.88 - - -
April 1, 2020
Depreciation expenses - - 307.02 54.69 125.37 1454.54 24.56 60.61 59.12 111.51 75.60 2273.02
Deductions/Adjustments - - 0.13 (9.10) (8.23) (607.92) (16.14) (109.03) (7.97) (59.57) - (817.83)
April 1, 2021
Depreciation expenses - - 313.62 55.67 119.01 1457.03 26.10 52.31 96.69 93.78 95.59 2309.80
Deductions/Adjustments - - (2.57) (7.41) (39.44) (182.25) (2.93) (4.38) (7.70) (102.97) - (349.65)
March 31, 2022
Net Carrying Value Freehold Leasehold Buildings Water and Electrical Plant & Furniture Computers Office Motor Bearer Total Capital Bearer Total
Land and Land and Sanitary Installations Equipment & Fixtures Equipment Vehicles Plants
Property, Work in Plants in Capital
Equipment Progress Notes
Net Carrying Value as at April 7242.78 829.99 8687.59 1519.24 1667.90 15300.65 219.14 229.57 174.44 846.86 1454.41 38172.57 897.64 4633.25 5530.89
1, 2020
Net Carrying Value as at April 7233.69 829.99 8562.93 1490.15 1619.63 15283.08 202.90 209.82 184.23 739.72 2436.92 38793.06 109.80 4346.89 4456.69
1, 2021
Net Carrying Value as at March 7233.69 829.99 8908.10 1461.47 1589.76 14485.35 204.63 172.76 180.23 492.82 3127.85 38686.65 1929.50 4439.68 6369.18
31, 2022
(a) The following assets are jointly owned / held with the Holding Company
Freehold Land and Development ₹103.78 Lakh (Previous Year - ₹103.78 Lakh)
Buildings ₹ 56.78 Lakh (Previous Year - ₹ 56.78 Lakh)
Water and Sanitary Installations ₹8.15 Lakh (Previous Year - ₹8.15 Lakh)
Electrical installations ₹ 22.07 Lakh (Previous Year - ₹22.07 Lakh)
(b) Additions to Bearer Plants represent capitalisation of Coffee, Pepper and Tea plants, which have attained maturity during the year
(c ) All immovable property is held in the name of the Company.
(d) The Company has not revalued its Property, Plant and Equipment during the current reporting period.
(e) The Company does not hold any Benami Property and does not have any proceedings initiated or pending for holding benami property under the Benami Transactions (Prohibitions) Act, 1988 (45 of 1988)
Ageing of Capital Work-in-progress
₹ Lakh
Amounts in Capital Work in Progress for a period of
Capital Work in Progress-Tangibles
Less than 1 year 1 to 2 years 2 to 3 years More than 3 years Total
Projects in progress
As at March 31, 2022 1881.41 4.64 - 43.45 1929.50

As at March 31, 2021 59.64 5.16 - 45.00 109.80
₹ Lakh
Strategic Report
Amounts in Bearer Plants in Progress for a period of

Bearer Plants in Progress
As at March 31, 2022 281.79 303.47 1091.46 2762.96 4439.68
As at March 31, 2021 164.48 743.14 1381.83 2057.44 4346.89
Statutory Reports
For projects overdue

₹ Lakh
To be completed in
Agglo Coffee Chicory Expansion Project (Project ACE) 1407.09 - - - 1407.09
Goods Lift Project 1.92 - - - 1.92
Aroma Recovery System Feed Heating PHE 2.70 - - - 2.70

1
42” CTC Machine 66.69 - - - 66.69

2
42” Singlet Machine 16.26 - - - 16.26

3
24” Minirator Machine 11.26 - - - 11.26
149
As at March 31 2022 1505.92 - - - 1505.92
Notes
Note No. 1 (b): Right-of-Use Assets

₹ Lakh
Particulars Buildings Motor Vehicles Total
Gross Carrying Value as at April 1, 2020 97.38 - 97.38
Additions - - -
Disposals - - -
Transfers/Adjustments - - -
Gross Carrying Value as at April 1, 2021 97.38 - 97.38
Additions 62.73 114.65 177.38
Disposals - - -
Transfers/Adjustments - - -
Gross Carrying Value as at March 31, 2022 160.11 114.65 274.76
Accumulated Depreciation Buildings Motor Vehicles Total

Accumulated Depreciation as at April 1, 2020 69.71 - 69.71
Depreciation expenses 16.31 16.31
Deductions/Adjustments -
Accumulated Depreciation as at April 1, 2021 86.02 - 86.02
Depreciation expenses 14.79 14.56 29.35
Deductions/Adjustments 15.22 21.26 36.48
Accumulated Depreciation as at March 31, 2022 116.03 35.82 151.85
Net Carrying Value Buildings Motor Vehicles Total

Net Carrying Value as at April 1, 2020 27.67 - 27.67
Net Carrying Value as at April 1, 2021 11.36 - 11.36
Net Carrying Value as at March 31, 2022 44.08 78.83 122.91
Note No. 2: Investment Property

₹ Lakh
Particulars Land Buildings Total
Gross Carrying Value as at April 1, 2020 220.91 5283.22 5504.13
Additions / Transfers - -
Disposal (1797.08) (1797.08)
Additions / Transfers - - -
Disposal (1748.11) (1748.11)
Accumulated Depreciation as at April 1, 2020 - 499.91 499.91

Depreciation - 88.73 88.73
Disposal - (198.52) (198.52)
Disposal - (223.61) (223.61)
Accumulated Depreciation as at March 31, 2022 - 227.39 227.39
Net Carrying Value as at April 1, 2020 220.91 4783.31 5004.22


Notes
The amount recognised in the Statement of Profit and Loss for investment property:
₹ Lakh
2022 2021
Rental Income 242.02 381.07
Direct Operating Expenses 51.25 59.74
Profit from investment property before depreciation 190.77 321.33
Depreciation for the period 60.88 88.73
Profit from investment property 129.89 232.60
(a) As at March 31, 2022, the fair value of Land was at ₹12000 Lakh (PY ₹9614 Lakh).
(b) As at March 31, 2022, the fair value of Building was at ₹1570 Lakh (PY ₹1597 Lakh). The valuation factors in the rates prevailing at
the time of disposal of a part of the Investment Property during the year.
(c ) The fair value of land included in investment property is based on the valuation by a registered valuer as defined under Rule 2 of
Companies (Registered Valuers and Valuation) Rules, 2017.
Operating Lease:
The Company has leased out part of its investment property for minimum period upto three years.
Minimum lease receipts under Non-cancellable Operating Lease:
₹ Lakh
2022 2021
Within one year 127.76 247.72
Later than one year and not later than three years 261.11 543.95
Note No. 3: Intangible Assets

₹ Lakh
Particulars Capitalised Software

Gross Carrying Value as at April 1, 2020 714.04
Additions 32.06
Disposals (0.82)
Gross Carrying Value as at April 1, 2021 745.28
Additions 18.04
Disposals -
Gross Carrying Value as at March 31, 2022 763.32
Accumulated Depreciation as at April 1, 2020 531.67

Amortisation 45.24
Deductions / Adjustments (0.82)
Accumulated Depreciation as at April 1, 2021 576.09
Amortisation 43.63
Deductions / Adjustments -
Accumulated Depreciation as at March 31, 2022 619.72
Net Carrying Value as at April 1, 2020 182.37

Net Carrying Value as at April 1, 2021 169.19
Net Carrying Value as at March 31, 2022 143.60
There are no intangible assets under development in the Company during the current reporting period.
The Company has not revalued its Intangible Assets during the current reporting period.

Notes
Note No. 4: Investments

₹ Lakh
Particulars Face 2022 2021
Value of Number Current Non Number Current Non
Each of Shares Current of Shares Current
(₹)
A. Investments Carried at Cost
Unquoted Investments (all fully paid)
Investments in Equity Instruments-Subsidiaries
Consolidated Coffee Inc. USD 0.01 300 14065.36 300 14065.36
Tata Coffee Vietnam Company Limited ^ 10611.29 8446.07
AGGREGATE AMOUNT OF UNQUOTED INVESTMENTS- 24676.65 22511.43
SUBSIDIARIES
B. Investments Carried at Fair Value through OCI

Investments in Quoted Equity Instruments
Tata Chemicals Limited 10.00 150 1.46 150 1.13
AGGREGATE AMOUNT OF QUOTED INVESTMENTS 1.46 1.13
Total cost of Quoted Investments ₹0.39 Lakh (PY ₹0.39 Lakh)
and market value ₹1.46 Lakh (PY ₹1.13 Lakh)
Investments in Unquoted Equity Instruments
Southern Scribe Instruments Private Limited * 100.00 7280 7.28 7280 7.28
Armstrong Power Private Limited * 100.00 1100 1.10 - -
K.T.V. Oil Mills Private Limited * 100.00 1450 1.44 1450 1.44
Mytrah Vayu (Manjira) Private Limited * 10.00 - - 162500 16.25
Coorg Orange Growers Co-Operative Society Ltd. ** 100.00 4 - 4 -
Tata Coffee Co-operative Stores Limited ** 5.00 20 - 20 -
Coorg Cardamom Co-operative Marketing Society Limited ** 100.00 1 - 1 -
AGGREGATE AMOUNT OF UNQUOTED INVESTMENTS 9.82 24.97
C. Investments designated as Fair Value Through Profit

and Loss
Investments in Mutual Funds - 4093.73 3538.82
Cost of Investments in Mutual Funds ₹4087.05 Lakh
(PY ₹3525.33 Lakh)
Tata Overnight fund - Direct plan - Growth - 184707.270 Units;
Cost of Investment ₹ 2067.98 Lakh; Fair Value ₹ 2071.38 Lakh
Axis Overnight Fund Direct Growth - 179950.036 Units;
Cost of Investment ₹ 2019.07 Lakh; Fair Value ₹ 2022.35 Lakh
4093.73 24687.93 3538.82 22537.53
^ During the current year, the Company has made an additional Equity investment of USD 2.9 Million [₹2165.22 Lakh] in Tata Coffee Vietnam Company
Limited [TCVCL], which is a single member limited liability Company.
* Relating to Power Purchase Agreement entered by the Company
** Represents amount less than ₹1000

Notes
Note No. 5: Loans

₹ Lakh

Current Non-current Total Current Non-current Total
Unsecured Considered Good
Employee Loans and Advances 177.76 20.98 198.74 210.20 16.45 226.65
Inter Corporate Deposits to Related Parties - - - 7000.00 - 7000.00
177.76 20.98 198.74 7210.20 16.45 7226.65
No Loans or Advances are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either
severally or jointly with any other person.
Note No. 6: Other Financial Assets

₹ Lakh

Security Deposits
- Secured, considered good - 22.94 22.94 - 22.32 22.32
- 22.94 22.94 - 22.32 22.32
Other Deposits
- Unsecured, considered good 460.71 - 460.71 484.06 - 484.06
- Doubtful 38.00 3.84 41.84 38.00 3.84 41.84
Less: Provision for Doubtful Deposits (38.00) (3.84) (41.84) (38.00) (3.84) (41.84)
460.71 - 460.71 484.06 - 484.06
Interest Accrued (including from Related 117.07 - 117.07 234.09 - 234.09
Parties ₹ Nil )(PY: ₹132.46 lakh)
Export Incentives Receivable 214.31 - 214.31 875.94 - 875.94
Other Financial Assets 806.48 - 806.48 893.24 - 893.24
1598.57 22.94 1621.51 2487.33 22.32 2509.65
Movements in Provision for Financial Assets
₹ Lakh
As at April 1, 2020 41.84

Provision during the year -
As at April 1, 2021 41.84
As at March 31, 2022 41.84

Notes
Note No. 7: Other Non-current and current assets

₹ Lakh

Capital Advances - 238.95 238.95 - 337.93 337.93
Advances to suppliers
Unsecured, considered good 554.38 - 554.38 233.97 - 233.97
Doubtful 66.09 2.99 69.08 66.09 2.99 69.08
Less: Provision for Doubtful Advances (66.09) (2.99) (69.08) (66.09) (2.99) (69.08)
Other Receivables 653.25 176.84 830.09 745.78 429.10 1174.88

Advances to Related Parties 1108.90 - 1108.90 1125.69 - 1125.69
Prepayments 641.87 11.22 653.09 591.59 12.50 604.09
2958.40 427.01 3385.41 2697.03 779.53 3476.56
Movements in Provision for Other Non-current and Current Assets
₹ Lakh
As at April 1, 2020 69.08

Provision for Doubtful Advances -
As at April 1, 2021 69.08
As at March 31, 2022 69.08
Note No. 8: Inventories including Biological Assets

₹ Lakh
Current Current
Stores and spares 2471.53 1857.20
Raw materials 5546.97 4043.69
Raw materials in Transit 2483.01 1888.66
Finished Goods 21771.51 16079.43
Work-in-progress, including Growing Produce of ₹ 1041.94 Lakh (PY ₹ 706.03 Lakh) 1041.94 706.03
Stock-in-trade 6263.78 3154.39
39578.74 27729.40
The method of valuation of Inventories has been stated in Note No. 2.2(h) of Significant Accounting Policies.
Trade Receivables Ageing Schedule
₹ Lakh
Outstanding for following periods from due date of payment
Particulars Not Due Less than 6 6 Months to 1 to 2 years 2 to 3 years More than 3 Total
months 1 Year years
As at March 31, 2022
Undisputed- considered good 7455.26 2000.56 529.04 640.08 15.10 36.22 10676.26
Total 7455.26 2000.56 529.04 640.08 15.10 36.22 10676.26
Undisputed- considered good 5496.77 4723.68 498.10 58.93 19.47 55.28 10852.23
Total 5496.77 4723.68 498.10 58.93 19.47 55.28 10852.23

Notes
Note No. 9: Trade Receivables

₹ Lakh

Current Current
Trade Receivables
Secured, considered good 1369.39 2930.79
Unsecured, considered good 8382.07 7095.09
Trade Receivables from Related Parties 924.80 826.35
10676.26 10852.23
The credit worthiness of Trade Receivables and the credit terms set are determined on a case to case basis. Considering that adequate
insurance covers have been taken on export debts and based on the other internal and external sources of information as determined
by the Management, the Company has concluded that there is a low probability of default on Trade Receivables.
The fair values of Trade Receivables are not considered to be significantly different from their carrying values, given their generally short
period to maturity, with impairment reviews considered on an individual basis rather than when these become overdue.
Note No. 10: Cash and Cash Equivalents / Bank Balances

₹ Lakh

Unrestricted Balances with banks
in current accounts 845.60 1411.75
in deposit accounts with original maturity less than 3 months - 4496.70
Cash in hand 3.11 2.92
Remittances in Transit 0.02 0.03
Cash and Cash Equivalents 848.73 5911.40
Unrestricted Balances with banks in deposit accounts with original maturity more than 3 months but 9113.70 2730.00
less than 12 months
Unpaid Dividend / Debenture / Debenture Interest 227.14 238.79
Other Bank Balances 9340.84 2968.79
Note No. 11: Non-current Assets Held for Sale

₹ Lakh
Particulars Timber
As at April 1, 2020 80.41
Additions 88.16
Disposals (43.24)
As at April 1, 2021 125.33
Additions 60.29
Disposals (136.42)
As at March 31, 2022 49.20
The Company intends to dispose off certain Non-current assets, it no longer utilises in the next 12 months. No impairment loss have
been recognised on reclassification of such assets as held for sale, as the Company expects that the fair value less costs to sell is higher
than the related carrying amounts.

Notes
Note No. 12 (a): Equity Share Capital

₹ Lakh

Authorised:
250000000 (PY 250000000) Equity shares of ₹1 each with voting rights 2500.00 2500.00
Issued, Subscribed and Fully Paid:
1867.70 1867.70
A. Details of Shares held by Parent Company [Promoter Group]:
Name of Shareholder 2022 2021
No. of Shares No. of Shares
Tata Consumer Products Limited - Parent Company [Promoter Group] 107359820 107359820
% of Holding 57.48% 57.48%
B. Details of Shareholders holding more than 5% shares:

Name of Shareholder 2022 2021
No. of Shares No. of Shares
% of Holding 57.48% 57.48%
C. Reconciliation of number of shares:

Number of shares as at 1st April 186770370 186770370
Add: Shares issued during the year - -
Number of shares as at 31st March 186770370 186770370
D. Dividends Paid:
Dividends Paid (₹ in Lakh) 2801.55 2801.55
Dividend Per Share (₹) 1.50 1.50
E. Rights, Preferences and restrictions of Equity Shares:

The Company has one class of equity shares having a par value of ` 1 each. Each shareholder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company
in proportion to their shareholding.
The Board of Directors, in its meeting on April 26, 2022, have recommended a dividend of ` 2.00 per share (face value of ` 1/- each)
for the year ended March 31, 2022. The proposal is subject to the approval of shareholders at the ensuing Annual General Meeting
and has not been included as a liability in these financial statements.

Notes
Note No. 12 (b): Other Equity

₹ Lakh

Capital Redemption Reserve 10.41 10.41
Securities Premium 14424.27 14424.27
General Reserves I 16795.30 16795.30
General Reserves II 14189.66 12592.58
Amalgamation Reserves 832.53 832.53
Retained Earnings 69046.46 63260.86
Equity instruments through Other Comprehensive Income 1.07 0.74
Effective portion of Cash Flow Hedges 160.81 236.16
Actuarial Gain / (Loss) (879.76) (885.27)
114580.75 107267.58
Note 13: Nature and purpose of Reserves

Capital Redemption Reserve
A statutory reserve created to the extent of sum equal to the nominal value of the share capital extinguished on buyback of Company’s
own shares pursuant to Section 69 of the Companies Act, 2013.
Securities Premium
Securities Premium has been created consequent to issue of shares at premium. These reserves can be utilised in accordance with
Section 52 of the Companies Act, 2013.
Amalgamation Reserves
Amalgamation Reserves pertains to the scheme of amalgamation of the Company with erstwhile Asian Coffee Limited, Coffee Lands
Limited and SIFCO Limited.
Note No. 14 (a): Borrowings

₹ Lakh

Current Current
Unsecured Borrowings:
From Banks: 7311.18 7300.04
Working Capital Facilities
7311.18 7300.04
The Working Capital facilities of the Company are repayable on demand and are re-drawable subsequently after repayment.
The Company has not availed any secured borrowings at any point of time during the current reporting period. However, there exists
a facility agreement for secured borrowings. The quarterly returns or statements of current assets filed by the company with banks or
financial institutions are in agreement with the books of accounts.
The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in accordance with the
guidelines on wilful defaulters issued by the Reserve Bank of India.

Notes
Note No. 14(b): Lease Liabilities

₹ Lakh

Lease Liabilities 41.51 87.94 129.45 9.52 7.12 16.64
41.51 87.94 129.45 9.52 7.12 16.64
Rental expense recorded for short-term leases, under Ind AS 116, during the year ended March 31, 2022 is `42.98 Lakh
(PY `63.34 Lakh)
2022 2021
Short term leases 42.98 63.34
Total 42.98 63.34
Note No. 15: Other Financial Liabilities

₹ Lakh

Deposits received - 94.67 94.67 225.57 225.57
Unpaid Dividends / Debenture / Debenture Interest 227.14 - 227.14 238.79 238.79
Employee Benefits 2537.79 - 2537.79 2456.39 2456.39
Other Payables 4470.77 61.48 4532.25 3935.56 177.99 4113.55
7235.70 156.15 7391.85 6630.74 403.56 7034.30
Note No. 16: Provisions

₹ Lakh
Provision for employee benefits 272.44 3540.85 3813.29 279.44 3915.70 4195.14
272.44 3540.85 3813.29 279.44 3915.70 4195.14
The movement in deferred income tax assets and (liabilities) during the year are as follows:
Current Non-current Total

Particulars Employee Employee Employee
Benefits Benefits Benefits
Balance as at April 1, 2020 340.48 4188.49 4528.97
Additions/utilised (net) (61.04) (272.79) (333.83)
Balance as at April 1, 2021 279.44 3915.70 4195.14
Balance as at March 31, 2022 272.44 3540.85 3813.29

Notes
Note No. 17: Tax Provision

a) Tax charge in the Statement of Profit and Loss
₹ Lakh

Current tax
Current year 1854.65 1721.99
Deferred tax
Deferred Tax expenses for the year 128.66 56.80
Income Tax expense for the year 1983.31 1778.79
b) Reconciliation of Effective Tax Rate
₹ Lakh
Profit before Tax 12167.54 11858.61
Tax using Domestic tax rate (Current year : 25.168% and Previous year 25.168%) 3062.33 2984.57
Tax effect of
Income tax @ different rate (557.11) (682.73)
Non-deductible tax expenses 105.49 189.70
Tax-exempt income (627.40) (712.75)
1983.31 1778.79
c) Current / Non-current Tax Assets/Liabilties
₹ Lakh
Current Tax Liabilities 62.65 172.37
Non-current Tax Assets 1288.13 1288.13
1225.48 1115.76
d) The analysis of Deferred Tax Assets and Deferred Tax Liabilities are as follows:
₹ Lakh
Deferred Tax Assets 375.54 634.81
Deferred Tax Liabilities 2188.94 2270.01
Net Deferred Tax Liabilities 1813.40 1635.20
e) The movement in deferred income tax assets and (liabilities) during the year are as follows:
₹ Lakh
Particulars Depreciation Other Provision Employee Other Assets Total

Liabilities for Doubtful Benefits
Debts
As at April 1, 2020 (2160.15) 506.64 15.39 463.20 (151.96) (1326.88)
(Charged) / credited
- to Statement of Profit and Loss 38.24 33.19 - (132.09) 3.86 (56.80)
- to Other Comprehensive Income - (251.52) - - - (251.52)
As at April 1, 2021 (2121.91) 288.31 15.39 331.11 (148.10) (1635.20)
- to Statement of Profit and Loss 58.13 - - (209.73) 22.94 (128.66)
- to Other Comprehensive Income - (49.54) - - - (49.54)
As at March 31, 2022 (2063.78) 238.77 15.39 121.38 (125.16) (1813.40)

Notes
Note No. 18 (a): Trade Payables to Micro and Small Enterprises

₹ Lakh

Current Current
Trade payables for goods & services
Total outstanding dues of Micro and Small Enterprises * 69.51 243.69
69.51 243.69
* includes amounts due beyond the applicable period of ₹ 0.82 Lakh (₹ Nil Lakh) and interest ₹0.03 Lakh (₹ Nil)
Note No. 18 (b): Trade Payables to Others

₹ Lakh
Current Current
Total outstanding dues of creditors other than Micro and Small Enterprises 4108.11 3165.54
Trade payables to Related Parties 431.60 465.56
4539.71 3631.10
(i) Principal amount due, remaining unpaid to Micro and Small Enterprises 69.51 243.69
(ii) Interest due, remaining unpaid to Micro and Small Enterprises - -
(iii) Interest due and payable to Micro and Small Enterprises - -
The information regarding Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information
available with the Company.
Trade Payables Ageing Schedule
₹ Lakh
Particulars Outstanding for following periods from due date of payment

Not Due* Less than 1 year 1 to 2 years 2 to 3 years More than 3 Total
years
MSME 69.51 - - 69.51
Others 2420.87 2017.16 101.68 4539.71
Total 2420.87 2086.67 - - 101.68 4609.22
MSME 243.69 243.69
Others 458.79 3049.31 65.00 - 58.00 3631.10
Total 458.79 3293.00 65.00 - 58.00 3874.79
* includes unbilled dues.

Notes
Note No. 19: Other Current Liabilities

₹ Lakh

Current Current
Statutory Liabilities 375.71 607.01
Advances from Customers 867.91 940.95
1243.62 1547.96
Note No. 20: Revenue from Operations

₹ Lakh
Revenue from contracts with customers
Sale of Goods 70608.75 62190.96
Sale of Traded Goods 8988.83 9538.60
Rendering of Services 596.83 447.66
Revenue from contracts with customers 80194.41 72177.22
Other Operating Revenues
Sale of Scrap / waste 257.62 196.61
Export Incentives 439.42 1025.21
Exchange Fluctuation (Net) 499.53 -
Miscellaneous Income 298.13 264.66
Other Operating Revenues 1494.70 1486.48
Revenue from Operations 81689.11 73663.70
Note No. 21: Other Income

₹ Lakh
Interest Income
On Advances and Deposits at amortised cost 528.53 711.27
Dividend Income
Dividend Income from Investments in Subsidiary at amortised cost 4484.00 4412.06
Dividend income from Other Non Current Investments at Fair Value through Other Comprehensive 0.01 0.02
Income
Net Gain On sale of Current investments at Fair Value through Profit or Loss 129.92 211.72
(Loss) / Gain on investments carried at Fair Value through Profit or Loss 20.54 (68.92)
Royalty Income 22.23 -
Rental income from Investment property 242.02 381.07
Operating Lease Rental income 8.91 16.74
Profit on sale of Property, Plant and Equipment/Investment Property (net) - 1300.48
7033.24 7791.38
Note No. 22 (a): Cost of materials consumed

₹ Lakh

Coffee 23127.83 16683.57
Tea 517.43 617.77
Others 658.14 917.12
Packing Materials 4753.10 4534.78
29056.50 22753.24

Notes
Note No. 22 (b): Purchase of Traded Goods

₹ Lakh

Coffee 8096.79 5972.07
Others 3991.23 3561.49
12088.02 9533.56
Note No. 22 (c): Changes in Inventories of finished goods, work-in-progress, Stock-in-trade and Biological
Assets
₹ Lakh

Opening Inventories as at April 1
Work-in-progress including Growing Produce 706.03 735.11
Stock in Trade 3154.39 2780.75
19939.85 18491.66
Closing Inventories as at March 31
29077.24 19939.85
(9137.39) (1448.19)
Note No. 23: Employee Benefits Expense

₹ Lakh

Salaries and wages, including bonus 18633.86 17005.97
Contribution to provident and other funds 2126.63 1907.04
Workmen and Staff Welfare 773.99 683.40
21534.48 19596.41
Note No. 24: Finance Costs

₹ Lakh

Interest Expense
On Working Capital Loans 216.64 210.68
Interest on Defined Benefit Plans 169.59 221.37
Bank Charges 65.37 55.77
451.60 487.82
Note No. 25: Other Expenses

₹ Lakh
Contract / Processing Charges 2987.72 2595.95
Consumption of Stores and Spare Parts 3125.66 2783.08

Notes
₹ Lakh
Power and Fuel 5517.24 4017.45
Repairs and Maintenance 1570.51 1172.15
Rent including Lease Rentals 42.98 63.34
Rates and Taxes 171.73 366.89
Advertisement and Sale Charges 19.22 202.04
Selling Expenses 1212.11 1123.54
Freight 2379.22 1360.71
Insurance 520.89 419.52
Exchange Fluctuation (Net) - 281.97
Expenditure on Corporate Social Responsibility [Refer Note No. 35] 174.72 129.75
Payment to Statutory Auditors [Refer Note No. 33] 114.00 100.00
Professional Charges 938.60 586.46
Miscellaneous Expenses 1203.07 1046.08
Loss on sale of Property, Plant and Equipment 47.92 -
20025.59 16248.93
Note No. 26: Exceptional Items

₹ Lakh
Expenses
Expenditure on Merger [Refer Note No. 30] 92.10 -
(92.10) -
Note No. 27: Estimated amounts of Contracts remaining to be executed:

₹ Lakh
Estimated amounts of contracts remaining to be executed on capital account and not provided for 304.78 1002.81
Note No. 28: Contingent Liabilities:

₹ Lakh
Claims under adjudication not acknowledged as debts:
i) Demands raised by Income Tax, Excise & Sales Tax Authorities 2317.27 1176.99
ii) Labour disputes under adjudication 65.15 94.00
iii) Claims by Customers / Suppliers 183.13 170.86
iv) Bank Guarantees 31.55 734.33
Note No. 29:

₹ Lakh
The Company has provided corporate guarantees to lending banks on behalf of its overseas wholly owned 31361.00 40043.89
subsidiary. As on Balance Sheet date, an amount of ₹ 29815 lakh is outstanding (PY ₹ 38511 lakh) to the
lending Banks, for which Corporate Guarantee has been provided.

Notes
Note No. 30:

The Board of Directors in their meeting dated March 29, 2022 have approved the Composite Scheme of Arrangement amongst Tata Consumer Products
Limited (“TCPL”}, the Company and TCPL Beverages & Foods Limited (“TBFL”} (the Company, TBFL and TCPL are collectively referred to as the “Companies”}
and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and the rules and /
or regulations made thereunder (including any statutory modification(s} or re-enactment(s} thereof for the time being in force} (such scheme referred to
as the “Scheme”}. The Scheme inter alia provides for the following: as a first step, the demerger of the Demerged Undertaking (as defined in the Scheme)
comprising of Plantation Business (as defined in the Scheme) of the Company into TBFL and in consideration, the consequent issuance of equity shares
by TCPL (as the holding company of TBFL) to all the shareholders of the Company (other than TCPL) in accordance with the Share Entitlement Ratio (as
defined in the Scheme), pursuant to the provisions of Section 2(19AA) read with Section 2(41A) and other relevant provisions of the IT Act (“Demerger”);
as a second step, followed immediately by the amalgamation of the Company (comprising the Remaining Business of the Company (as defined in the
Scheme)) with TCPL and in consideration, the consequent issuance of equity shares by TCPL to all the shareholders of the Company (other than TCPL) in
accordance with the Share Exchange Ratio (as defined in the Scheme) pursuant to the provisions of Section 2(1B) and other relevant provisions of the
IT Act (as defined hereinafter) (“Amalgamation”); and various other matters consequential or otherwise integrally connected therewith. The Scheme is
subject to inter-alia receipt of the approval of the requisite majority of the public shareholders and creditors (if applicable) of the Companies, the Stock
Exchanges, the Securities and Exchange Board of India, National Company Law Tribunals (benches at Kolkata and Bengaluru) and other regulatory
authorities, as may be applicable. Pending receipt of necessary approvals, no effect of the Scheme has been given in the financial statements for the year
ended March 31, 2022.
Note No. 31:

Segment information has been disclosed as part of Consolidated Financial Statements for the year. Refer Note No. 39
Note No. 32: R & D Expenditure

₹ Lakh
Capital Expenditure 2.53 0.10
Revenue Expenditure 88.63 76.25
Total 91.16 76.35
Total R&D Expenditure as % of Revenue 0.11% 0.10%
Note No. 33: Payment to Statutory Auditors

₹ Lakh
Audit Fees 60.00 40.00
Tax Audit Fees 15.00 12.00
Quarterly Audit Fees 25.00 18.00
Other Services 12.50 25.00
Reimbursement of expenses 1.50 5.00
Total 114.00 100.00
Note No. 34: Leases

₹ Lakh
Minimum lease payments:
Within 1 Year 67.78 70.24
1 to 2 Years 73.68 113.84
2 to 5 Years 23.95 51.57
Total 165.41 235.65

Notes
Note No. 35: Corporate Social Responsibility

As per Section 135 of the Companies Act, 2013 (‘Act), a Company, meeting the applicability threshold, needs to spend at least 2% of its
average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. The areas for
CSR activities are Healthcare including Preventive healthcare, providing Safe drinking water, sanitation facility, promoting education,
Old Age Home maintenance, Environmental sustainability and promotion and development of traditional art and handicrafts. A CSR
committee has been formed by the company as per the Act. The funds were primarily allocated to a corpus and utilized through the year
on these activities which are specified in Schedule VII of the Companies Act, 2013.
a) Gross amount required to be spent by the Company during the year is ₹85.68 Lakh. (PY ₹75.61 Lakh)
b) Amount spent during the year `174.72 Lakh (PY `129.75 Lakh)
₹ Lakh
The amounts expended are as follows: 2022 2021

(i) Construction / acquisition of any asset - -
(ii) For purposes other than (i) above 174.72 129.75
Note No. 36: Basic and Diluted Earnings per share

₹ Lakh

Profit for the year attributable to owners of the Company (₹ Lakh) 10184.23 10079.82
Weighted average number of equity shares 186770370 186770370
Nominal Value per equity share (₹) 1.00 1.00
Earnings per share from continuing operations - Basic and Diluted (₹) 5.45 5.40
Note No. 37: Financial Instruments - Accounting Classification and Fair values
A. Financial Instruments
A. Accounting Classification and Fair Values
₹ Lakh
March 31, 2022 Carrying Amount Fair Value
FVTPL FVTOCI Cost / Total Level 1 Level 2 Level 3 Total
Amortised
Cost
Financial Assets:
Quoted Equity Investments Non-current - 1.46 - 1.46 1.46 - - 1.46
Unquoted Equity Investments-Subsidiaries Non-current - - 24676.65 24676.65 - - - -
Unquoted Equity Investments-Others Non-current - 9.82 - 9.82 9.82 9.82
Loans Non-current - - 20.98 20.98 - - - -
Other Financial Assets Non-current - - 22.94 22.94 - - - -
Investment in Mutual Funds Current 4093.73 - - 4093.73 4093.73 - - 4093.73
Trade Receivables Current - - 10676.26 10676.26 - - - -
Cash and Cash Equivalents & Other Bank Balances Current - - 10189.57 10189.57 - - - -
Loans Current - - 177.76 177.76 - - - -
Other Financial Assets Current - 148.92 1449.65 1598.57 - 148.92 - 148.92
Total Financial Assets 4093.73 160.20 47213.81 51467.74 4095.19 158.74 - 4253.93

Notes
₹ Lakh
Amortised
Cost
Financial Liabilities:
Lease Liabilities Non-current - - 87.94 87.94 - - - -
Other Financial Liabilities Non-current - - 156.15 156.15 - - - -
Borrowings Current - - 7311.18 7311.18 - - - -
Lease Liabilities Current - - 41.51 41.51 - - - -
Trade payables Current - - 4609.22 4609.22 - - - -
Other Financial Liabilities Current - 7235.70 7235.70 - - - -
Total Financial Liabilities - - 19441.70 19441.70 - - - -
₹ Lakh
Amortised
Cost
Financial Assets:
Unquoted Equity Investments-Subsidiaries Non-current - - 22511.43 22511.43 - - - -
Unquoted Equity Investments-Others Non-current - 24.97 - 24.97 - 24.97 - 24.97
Investment in Mutual Funds Current 3538.82 - - 3538.82 3538.82 - - 3538.82
Cash and Cash Equivalents & Other Bank Balances Current - - 8880.19 8880.19 - - - -
Loans Current - - 7210.20 7210.20 - - - -
Other Financial Assets Current 240.05 2247.28 2487.33 - 240.05 - 240.05
Lease Liabilities Non-current 7.12 7.12
Lease Liabilities Current 9.52 9.52 - - - -
Other Financial Liabilities Current - 6630.74 6630.74 - - - -
Total Financial Liabilities - - 18225.77 18225.77 - - - -
B. Measurement of Fair Values
The basis of measurement with respect to each class of financial assets and financial liabilities are disclosed in Note 2.2 (g) of
Significant Accounting Policies.

Notes
Note No. 38: Financial Risk Management

Risk Management framework
The Company’s Board of Directors has overall responsibility for the establishment and oversight of the Company’s Risk Management
framework. The Board has established the Risk Management Committee, which is responsible for developing and monitoring the
Company’s Risk Management policies. The Committee reports regularly to the Board of Directors on its activities.
The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate
risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to
reflect changes in market conditions and the Company’s activities. The Company, through its training and management standards and
procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and
obligations.
The Audit Committee oversees how management monitors compliance with the company’s risk management policies and procedures,
and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The Audit Committee is
assisted in its oversight role by Internal Audit function, which regularly reviews risk management controls and procedures, the results of
which are reported to the Audit Committee.
The Company has exposure to Credit, Liquidity and Market risks arising from financial instruments:
A. Credit Risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations, and arises principally from the Company’s receivables from customers and investments in debt securities.
Trade and other receivables:-
The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However,
management also considers the factors that may influence the credit risk of its customer base, including the default risk of the
country in which customers operate.
The Risk Management Committee has established a credit policy under which each new customer is analysed individually
for Creditworthiness before the Company’s standard payment and delivery terms and conditions are offered. Credit limits are
established for each customer and reviewed periodically.
At the end of the reporting period, there are no significant concentrations of credit risk. The carrying amount reflected above
represents the maximum exposure to credit risk.
Cash and cash equivalents
The Company held cash and cash equivalents of ₹ 848.73 Lakh at March 31, 2022 (March 31, 2021: ₹ 5911.40 Lakh).
B. LIQUIDITY RISKS:
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities
that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as
possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions,
without incurring unacceptable losses or risking damage to the Company’s reputation. The following are the remaining contractual
maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest
payments and exclude the impact of netting agreements.
Maturities of Financial Liabilities:
₹ Lakh
Within 1 Due from Due from After 5 Total Within 1 Due from Due from After 5 Total
year 1 to 2 2 to 5 years year 1 to 2 2 to 5 years
years years years years
Borrowings 7311.18 - - - 7311.18 7300.04 - - - 7300.04
Leases 41.51 87.94 - - 129.45 9.52 7.12 - - 16.64
Trade Payables 4609.22 - - - 4609.22 3874.79 - - - 3874.79
Other Financial Liabilities 7199.57 192.28 - - 7391.85 6630.74 323.18 80.38 - 7034.30
Total 19161.48 280.22 - - 19441.70 17815.09 330.30 80.38 - 18225.77

Notes
C. MARKET RISKS:
Market risk is the risk that changes in market prices such as commodity prices risk, foreign exchange rates and interest rates which
will affect the Company’s financial position. Market risk is attributable to all market risk sensitive financial instruments including
foreign currency receivables and payables.
The Plantation Industry is dependent on nature, making it susceptible to climate vagaries. The major weather factors that influence
coffee yield are rainfall, temperature, light intensity and relative humidity. To mitigate the risk of drought conditions, the Company
has invested significantly on augmentation of irrigation capacities rain water harvesting to improve the water table and enhance
the water storage capacity. With regard to Plantation Operations, borer infestation and Tea Mosquito bugs are continuous threats
being faced. The Company, in addition to regular tracing and chemical control, has taken rigorous initiatives to curb pest incidence.
It is also working closely with various R&D cells and Government agencies for developing effective measures in this regard.
Commodity Price Risk
The Comapny’s exposure to Market risk for commodity prices can result in changes to realisation for its Plantation products and
Cost of Production for its value added products. The risk associated is actively monitored for mitigation actions. The other mitigants
includes strict implementation of Board mandated Commodity policy and also the natural hedge arising on export of Plantation
produce vis a vis import of Coffee for value added segment.
Coffee Futures/Options:
The Company uses Coffee futures/options contracts to reduce its price risk associated with forecasted sales of Coffee beans. These
coffee futures/options have been designated as Cash Flow Hedges.
Type of Derivatives Currency Pair 2022 2021

No. of Amount Fair Value No. of Amount Fair Value
Contracts Hedged Contracts Hedged
USD in Mm ₹ lakh USD in Mm ₹ lakh
Coffee Futures 55 1.83 10.25 47 0.74 28.26
Coffee Options - 15 1.36 (15.47)
Written Calls
Coffee Options - 30 1.59 48.93
Purchased Puts
Currency Risk
The Company is exposed to currency risk on account of its receivables and other payables in foreign currency. The functional
currency of the Company is Indian Rupee. The Company uses forward exchange contracts to hedge its currency risk, mostly with
a maturity of less than one year from the reporting date. The Company does not use derivative financial instruments for trading
or speculative purposes. Following is the derivative financial instruments to hedge the foreign exchange rate risk as of March 31,
2022:

Mm ₹ lakh Mm ₹ lakh
Forward exchange contracts USD INR 101 16.20 62.68 121 17.48 159.99
Forward exchange contracts EUR INR 12 1.41 26.81 15 1.56 51.80
Forward exchange contracts GBP INR 6 0.74 15.72

Notes
The carrying amount of the company’s foreign currency denominated Monetary Assets and Liabilities as at the end of reporting
period are as below
Amount in Mm
Currency Monetary Assets Monetary Liabilities
2022 2021 2022 2021
USD 7.97 8.63 2.02 1.30
EUR 0.32 0.21
GBP 0.26
The following table summarises approximate gain/(loss) on the Company’s Profit before tax and pre-tax equity on account of
appreciation/depreciation of underlying foreign currency amounts stated in the above table.
` Lakh
Particulars Effect on Profit before tax Effect on Pre-tax equity
2022 2021 2022 2021
Average USD rate 74.15 74.28 74.15 74.28
Average EUR rate 86.45 86.91 86.45 86.91
Average GBP rate 101.57 - 101.57 -
5% appreciation of USD INR 248 281 (700) (716)
5% depreciation of USD INR (248) (281) 700 716
Exposure to Interest Rate Risk

Company’s interest rate risk arises from borrowings.
The following table demonstrates the sensitivity on the Company’s profit before tax, to a reasonably possible change in interest
rates on that portion of loans and borrowings affected, with all other variables held constant:
₹ Lakh
Effect on Profit Effect on Profit
Before Tax Before Tax
50 basis Points increase (36.53) (36.01)
50 basis Points decrease 36.53 36.01
Capital Management
The Company’s objective for capital management is to maximize shareholder wealth, safeguard business continuity and support
the growth of the Company. The Company determines the capital management requirement based on annual operating plans and
long term and other strategic investment plans. The funding requirements are met through equity, borrowings and operating cash
flows.
The Company’s Debt Equity ratio is as below:
₹ Lakh
Total Debt [including Lease Liabilities] 7440.63 7316.68
Total Equity 116448.45 109135.28
Debt Equity Ratio 0.06:1 0.07:1

Notes
Note No. 39: Employee Benefits Obligation

(i) Defined Contributions
Amount of ₹1254.68 Lakh (PY ₹1081.69 Lakh) is recognised as an expense and included in employee benefit expense to the
following defined contribution plans:
₹ lakh

Provident Fund 420.56 355.00
Superannuation Fund 99.83 99.69
Pension Fund 734.29 627.00
1254.68 1081.69
(ii) Defined Benefits:

Gratuity, Post Retiral Medical Benefits and Pension :
The Company operates defined benefit schemes like retirement gratuity, defined superannuation benefits and post retirement
medical benefits. There are superannuation benefits and medical benefits restricted to certain categories of employees/directors
in the form of medical and pension, The defined benefit schemes offer specified benefits to the employees on retirement. The
gratuity benefit provides for a lump sum payment to vested employees at retirement, death while in employment or on termination
of employment of an amount equivalent to 15 / 30 days’ salary payable for each completed year of service. Vesting occurs upon
completion of five continuous years of service.
Changes in the Defined Benefit obligation
₹ lakh
Particulars Gratuity Medical Pension

2022 2021 2022 2021 2022 2021
Opening Defined Benefit Obligation 7203.31 7627.98 1372.86 1351.41 1857.44 1846.14
Current Service Cost 422.38 438.14 31.17 36.38 - -
Past Service cost 1.53 - - - - -
Interest on Defined Benefit Obligation (46.51) 10.41 92.45 89.70 123.65 121.26
Interest on Plan assets 543.97 412.54 - - - -
Actuarial changes arising from changes in experience 480.07 (708.42) (282.81) (54.30) (36.36) 36.77
assumption
Actual return on plan assets less interest on plan assets - 63.43 - - - -
Adjustment to recognise the effect of asset ceiling - 3.66 - - - -
Actuarial changes arising from changes in Financial (154.46) (57.72) (43.64) (21.30) (33.39) (14.79)
assumption
Benefits Paid (649.00) (586.71) (33.39) (29.03) (152.74) (131.90)
Closing Defined Benefit Obligation 7801.29 7203.31 1136.64 1372.86 1758.60 1857.48

Notes
Changes in the Fair Value of Plan assets during the Year

₹ lakh
Particulars Gratuity
2022 2021
Opening Fair value of Plan Assets 7636.05 7223.81
Employers Contribution 450.50 582.74
Interest on Plan Assets 510.92 479.64
Actual return on Plan Assets less interest on Plan Assets 29.65 (63.43)
Benefits paid (649.00) (586.71)
Closing Fair Value of Plan Assets 7978.12 7636.05
Net Asset / (Liability) recognised in Balance Sheet
₹ lakh

2022 2021 2022 2021 2022 2021
Present Value of Funded Defined Benefit Obligation at the 7801.29 7203.31 - - - -
year end
Fair Value of Plan Assets at the end of the year 7978.12 7636.05 - - - -
Amount not recognised due to Asset Limit 3.66 - - - -
(176.83) (429.08) - - - -
Present Value of Unfunded Defined Benefit Obligation at the - - 1136.64 1372.86 1758.60 1857.48
year end
Asset Ceiling - - - - - -
Amount recognised in Balance Sheet (176.83) (429.08) 1136.64 1372.86 1758.60 1857.48
Expense recognised in the Statement of Profit and Loss for the year:
₹ lakh
2022 2021 2022 2021 2022 2021
Current Service Cost 422.38 438.14 31.17 36.38 - -
Interest Cost on Defined Benefit Obligation (net) (46.51) 10.41 92.45 89.70 123.65 121.26
Past Service Cost 1.53 - - - - -
Total recognised in the Statement of Profit and Loss 377.40 448.55 123.62 126.08 123.65 121.26
Amount recognised in Other Comprehensive Income for the year:
₹ lakh
2022 2021 2022 2021 2022 2021
Actuarial changes arising from changes in financial (154.46) (57.72) (43.64) (21.30) (33.39) (14.79)
assumptions
Actuarial changes arising from changes in demographic - - - - - -
assumptions
Actuarial changes arising from changes in experience 480.07 (708.42) (282.81) (54.30) (36.36) 36.77
assumption
Actual return on plan assets less interest on plan assets - 63.43 - - - -
Adjustment to recognise the effect of asset ceiling - 3.66 - - - -
Adjustment to recognise the effect of asset ceiling 325.61 (699.05) (326.45) (75.60) (69.75) 21.98

Notes
Maturity Profile of Defined Benefit Obligation:

₹ lakh
2022 2021 2022 2021 2022 2021
Within next 12 months 893.42 854.69 42.25 46.35 104.15 104.65
Between 2 and 5 years 3096.61 2655.90 199.34 211.44 436.01 439.95
Between 6 and 9 years 3117.97 2856.75 255.74 254.91 481.77 491.31
10 Years and above 8504.04 7720.38 4642.46 2308.27 1641.86 1835.88
Principal Actuarial assumptions used:

Discount Rate 7.10% 6.85%
Salary escalation rate 7.00% 7.00%
Pension escalation rate (SRB) 18% after every 3rd year 18% after every 3rd year
Annual increase in Health Costs 8.00% 8.00%
Mortality Rates Indian Assured Lives mortality Indian Assured Lives mortality
(2012-14) Ult Table (2012-14) Ult Table
Quantitative sensitivity analysis for significant assumptions is as below:
₹ lakh
Impact on Defined Benefit Obligation Gratuity Medical Pension
2022 2022 2022
Impact of increase in 50 basis points in discount rate (293) (80) (67)
Impact of decrease in 50 basis points in discount rate 314 90 72
Impact of increase in 50 basis points in salary escalation 313 - -
Impact of decrease in 50 basis points in salary escalation (295) - -
Impact of increase in 100 basis points in health care cost - 188 -
Impact of decrease in 100 basis points in health care cost - (151) -
Impact of increase in 100 basis points in pension rate - - 42
Impact of decrease in 100 basis points in pension rate - - (41)
Sensitivities have been calculated to show the movement in Defined Benefit Obligation in isolation and assuming there are no
other changes in market conditions at the accounting date. In presenting the above sensitivity analysis, the present value of the
defined benefit obligations has been calculated using the Projected Unit Credit Method at the end of the reporting period, which
is the same as that applied in calculating the Defined Benefit Obligation liability recognised in the balance sheet.
Major Categories of Plan Assets:
₹ lakh
Particulars Gratuity
2022 2021
Insurance managed Funds 7978.12 7636.05
Total 7978.12 7636.05
The Company contributes all its ascertained liabilities towards gratuity to the Trust set up for the same. Trustees administer the
contributions made to the Trust. As at March 31, 2022 and March 31, 2021, the plan assets have been primarily invested in insurance
managed funds.
Expected contribution over the next financial year:
The Company is expected to contribute ₹ 702.76 Lakh to defined benefit obligations funds for the year ending March 31, 2022.

Notes
(iii) Provident Fund

The Company operates Provident Fund Schemes and the contributions are made to recognised funds maintained by the Company
and for certain categories contributions are made to State Plans. The Company has an obligation to fund any shortfall on the yield
of the Trust’s investments over the administered rates on an annual basis. The Actuary has provided valuation for provident fund
liabilities on the basis of guidance issued by Actuarial Society of India and based on the below provided assumptions, there is no
shortfall as on March 31, 2022 and March 31, 2021.
The details of fund and plan asset position are given below:
₹ lakh
Particulars Provident Fund

2022 2021
Plan Assets as at period end 8911 8002
Present Value of Funded Obligations at period end 8911 8002
Amount Recognised in the Balance Sheet - -
Assumptions used in determining the present value obligation of the interest rate guarantee under the Deterministic Approach:
Particulars Provident Fund
2022 2021
Guaranteed Rate of Return 8.50% 8.50%
Discount Rate for remaining term to Maturity of Investment 6.30% 6.50%
Expected Rate of Return on Investment 8.47% 8.21%
Note No. 40: Fair Value Measurement

A. Fair Value Measurement-Agricultural Produce
Agricultural produce is the harvested produce of the entity’s Biological Assets (Bearer Plants) at the point of harvest. Green Bean
in Fruit form, Green Pepper and Green Tea at the point of plucking falls within the definition of Agricultural Produce at the point of
harvest.
The Company uses a Valuation technique that is appropriate to the circumstances and for which sufficient data are available to
measure the fair value, maximising the use of relevant observable inputs. Accordingly, the Company follows a Market Approach as
permitted under Indian Accounting Standard Ind AS-113- ‘Fair Value Measurement’.
Particulars Fair value hierarchy Valuation technique(s) and key input(s)

1) Arabica Level 2 input Market Approach
2) Robusta Level 2 input Market Approach
3) Pepper Level 2 input Market Approach
4) Tea Level 2 input Market Approach
(i) Fair Valuation of Coffee
The Coffee on reporting dates are available in (a) Fruit Form (b) Dried Uncured form and (c) Cured Coffee level.
There is no active quoted market for Green Bean in Fruit Form. Hence, Level 1 inputs (unadjusted quoted prices in active
markets for identical assets or liabilities) are not available for valuation.
The Coffee Board publishes Daily Market Prices of Arabica Parchment, Arabica Cherry, Robusta Parchment and Robusta
Cherry at Dried Uncured Coffee level.
Based on the well established conversion norms and the Coffee Board prices, the cured equivalent of fair valuation of Fruit
Coffee are arrived at based on Level 2 observable inputs.

Notes
The Valuation is carried out at the Fruit Coffee Level, while the the quoted prices are available at the Dried Coffee level. Hence,
the fair value measurement is satisfying the conditions for applying Level 2 of the Fair Value hierarchy.
Suitable adjustments based on conversion norms applicable for the dried Uncured Coffee and Cured Coffee are carried out
to arrive at the corresponding Fair Value at these stages.
(ii) Fair Valuation of Pepper
The Spices Board of India publishes the average market rates for Pepper MG1 Grade. Since the Company produces and
markets Pepper in various grades, apart from MG1, the quoted Prices for MG1 are considered as Level 2 inputs being quoted
prices of Various Grades. The MG1 rate is applied to the Company’s estimated grade % for black pepper production and the
composite weighted average fair value is arrived at and after making adjustments for subsequent processes.
The fair value so arrived at becomes the Ind AS 2 Inventory rate / value and thereafter regular inventory accounting process
is followed.
(iii) Fair Valuation of Tea
The tea leaves at the point of plucking are designated as Agricultural Produce at the point of harvest. The fair valuations are
based on the auction prices of Made Tea and are suitably adjusted based on conversion norms to arrive at the fair valuation
of green leaves.
B. Fair Value of Equity
The Fair value of equity investments except investments in subsidiaries are based on Quoted prices available on last reporting rate
which is a Level 1 input.
Note No. 41: Disclosure under Section 186 of the Companies Act, 2013
Particulars of Loans, Deposits and Guarantees as at the year end
₹ Lakh
Sl. Name of the Entity 2022 2021 Nature of Loans / Purpose for which Loan/Guarantee is
No. Deposits proposed to be utilised by recipient
1 Tata Housing Development Company Limited - 3000.00 Inter Corporate Deposits Short Term Working Capital
2 Tata International Limited 4000.00 Inter Corporate Deposits Short Term Working Capital
- 7000.00
The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other source or kind of
funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in
writing or otherwise) that the Intermediary shall: (i) directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on
behalf of the Ultimate Beneficiaries.

Notes
Note No. 42: Financial Ratios

Financial ratios
Ratio Numerator Denominator 2022 2021 % Variance

Current Ratio Current Assets Current Liabilities 3.33 3.20 4
Debt - Equity Ratio Total Debt [including Lease Total Equity 0.06 0.07 14
Rentals]
Debt Service Coverage Ratio^ Earnings available for Debt Debt Service 41.54 46.95 (12)
Service
Return on Equity Ratio Profit After Tax Average Equity 9.03% 9.64% (6)
Inventory Turnover Ratio Net Sales Average Inventory 2.37 2.71 (13)
Trade Receivables Turnover Ratio Revenue from Contracts with Average Accounts Receivables 7.45 6.56 14
Customers
Trade Payables Turnover Ratio Adjusted Expenses Average Trade Payables 12.25 12.05 2
Net Capital Turnover Ratio Revenue from Operations Average Working Capital 1.77 1.93 (8)
Net Profit Ratio Profit After Tax Revenue from Operations 12.47% 13.68% (9)
Return on Capital Employed Earnings Before Interest and Average Capital Employed 8.17% 6.82% 20
Tax
Return on Investment* Income generated from Average Investments 4.38% 5.96% (27)
Investments
^ Excluding Working Capital facilities which are re-drawable subsequently after repayment
* Return on Investment is lower on account of lower cash and cash equivalents
Note No. 43: Other Disclosures

(a) Relationship with Struck off Companies - The Company does not have any transactions or relationships with any companies struck
off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.
(b) There are no transactions that have been surrendered or disclosed as income during the year in the tax assessments under the
Income Tax Act, 1961 which have not been recorded in the books of account.
(c) There are no charges or satisfaction of charges yet to be registered with Registrar of Companies beyond the statutory period.

Note No. 44: Related Party Transactions
176
₹ Lakh
In accordance with IndAS 24, the disclosures required are given below:
Sl. Nature of transaction Promoter Parent Company Subsidiaries Key Management Fellow Subsidiaries/JVs of Post Employment Total
Notes
No. Personnel Subsidiaries/JVs/ Promoter Benefit Plans
Associates
For the For the For the For the For the For the For the For the For the For the For the For the For the For the For the For the
year year year year year year year year year year year year year year year year
ended ended ended ended ended ended ended ended ended ended ended ended ended ended ended ended
March March March March March March March March March March March March March March March March
31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021

1 Sale of Goods - - 5087.59 4514.69 174.92 47.17 - - 2307.88 1522.17 1.26 - - - 7571.65 6084.03
2 Rendering of - - - - - - - - - - 40.32 31.89 - - 40.32 31.89
Services
3 Purchase of Goods - - - 10.65 496.68 161.16 - - 8.18 - 3600.01 3141.20 - - 4104.87 3313.01
4 Directors’ - - - - - - 559.30 505.89 - - - - - - 559.30 505.89
Remuneration*
5 Receiving of Services 143.17 132.64 93.49 307.10 - - - - 320.14 0.89 318.03 292.87 - - 874.83 733.50
6 Reimbursement of - - (121.58) (124.89) - - - - - - - - - - (121.58) (124.89)
expenses / (income)
- Net
7 Dividend Paid - - 1610.33 1610.33 - - - - - - - - - - 1610.33 1610.33
8 Dividend received - - - - 4484.00 4412.06 - - - - - - - - 4484.00 4412.06
(Inclusive of TDS)
9 Contribution to Post - - - - - - - - - - 742.12 715.03 742.12 715.03
Retirement Benefit
Plans
10 Guarantee balance - - - - 31361.00 40043.89 - - - - - - - - 31361.00 40043.89
at the year end
11 Inter Corporate - - - - - - - - - 7000.00 - - - 7000.00
Deposits at the
year end
12 Interest Received/ - - - - - - - - 104.07 263.60 - - 104.07 263.60
Accrued on Inter
Corporate Loans
13 Investment in Wholly - - - - 2165.22 - - - - - - - 2165.22 -
Owned Subsidiary
14 Outstanding at the Credit 143.17 132.64 20.87 157.41 213.86 168.78 - - 5.39 0.09 48.31 6.64 - - 431.60 465.56
year end
Debit - - 569.19 609.97 20.14 26.92 - - 335.47 189.46 1108.90 1258.15 - - 2033.70 2084.50
The above information is excluding taxes and duties except Outstanding Balances at the year end.
* Includes contribution towards Provident Fund and Superannuation Fund
Details of material transactions with related parties are disclosed in the consolidated Related Party Transactions (refer Note No. 42 (b) of the consolidated financial
statements).
Notes
Names of related parties and description of relationship

1. Promoter Company Tata Sons Private Limited
2. Parent Company Tata Consumer Products Limited
3. Subsidiaries Consolidated Coffee Inc.,
Eight O Clock Holdings Inc.
Eight O Clock Coffee Company
Tata Coffee Vietnam Company Limited
4. Key Management Personnel Mr Chacko Purackal Thomas, Managing Director & CEO
Mr K Venkataramanan, Executive Director - Finance & CFO
5. Fellow Subsidiaries / JVs/Associates Tata Consumer Products GB Limited
Tata Starbucks Private Limited
Kanan Devan Hills Plantations Company Private Limited
Amalgamated Plantations Private Limited
6. Subsidiaries / JVs of Promoter Company Tata Consultancy Services Limited
Tata Housing Development Company Limited
Tata International Limited
Tata Teleservices Limited
Tata Uganda Limited
Tata International Singapore Pte Limited
Tata Unistore Limited
Tata Communications Limited
Tata AIG General Insurance Company Limited
Tata AIA Life Insurance Company Limited
Tata Industries Limited
Tata Digital Limited
7. Post Retirement Benefit Plans Tata Coffee Staff Provident Fund Trust
Tata Coffee Superannuation Scheme
Tata Coffee Employees Gratuity Fund
CHACKO PURACKAL THOMAS K. VENKATARAMANAN

Managing Director & CEO Executive Director - Finance & CFO
S. VENKATRAMAN N. ANANTHA MURTHY

Director Company Secretary
Place: Bengaluru

INDEPENDENT AUDITOR’S REPORT
To The Members of Tata Coffee Limited
Report on the Audit of the Consolidated Financial Statements Basis for Opinion
Opinion We conducted our audit of the consolidated financial statements
in accordance with the Standards on Auditing specified under
We have audited the accompanying consolidated financial
Section 143 (10) of the Act (SAs). Our responsibilities under those
statements of Tata Coffee Limited (”the Parent”) and its
Standards are further described in the Auditor’s Responsibility for
subsidiaries, (the Parent and its subsidiaries together referred to
the Audit of the Consolidated Financial Statements section of our
as “the Group”), which comprise the Consolidated Balance Sheet
report. We are independent of the Group in accordance with the
as at 31 March 2022, and the Consolidated Statement of Profit and
Code of Ethics issued by the Institute of Chartered Accountants
Loss (including Other Comprehensive Income), the Consolidated
of India (ICAI) together with the ethical requirements that are
Cash Flow Statement and the Consolidated Statement of Changes
relevant to our audit of the consolidated financial statements
in Equity for the year then ended, and a summary of significant
under the provisions of the Act and the Rules made thereunder,
accounting policies and other explanatory information.
and we have fulfilled our other ethical responsibilities in
In our opinion and to the best of our information and according accordance with these requirements and the ICAI’s Code of Ethics.
to the explanations given to us, and based on the consideration We believe that the audit evidence obtained by us and the audit
of reports of the other auditors on separate financial financial evidence obtained by the other auditors in terms of their reports
information of the subsidiaries referred to in the Other Matters referred to in the sub-paragraphs (a) of the Other Matters section
section below, the aforesaid consolidated financial statements below, is sufficient and appropriate to provide a basis for our audit
give the information required by the Companies Act, 2013 (“the opinion on the consolidated financial statements.
Act”) in the manner so required and give a true and fair view in
Key Audit Matters
conformity with the Indian Accounting Standards prescribed
under Section 133 of the Act read with the Companies (Indian Key audit matters are those matters that, in our professional
Accounting Standards) Rules, 2015, as amended (‘Ind AS’), and judgment, were of most significance in our audit of the
other accounting principles generally accepted in India, of the consolidated financial statements of the current period. These
consolidated state of affairs of the Group as at 31 March 2022, and matters were addressed in the context of our audit of the
their consolidated profit, their consolidated total comprehensive consolidated financial statements as a whole, and in forming our
income, their consolidated cash flows and their consolidated opinion thereon, and we do not provide a separate opinion on
changes in equity for the year ended on that date. these matters. We have determined the matters described below
to be the key audit matters to be communicated in our report.

No.
1 Growing Produce (Existence and Valuation) With respect to the existence of the growing produce of coffee, tea
Produce of coffee, tea and pepper growing on the bearer and pepper:
plants (“growing produce”) are measured at fair value 1. Obtained an understanding of the significant management
based on their biological transformation. judgements applied in determination of the quantity and
The fair valuation of the growing produce is significant biological transformation of the growing produce.
to our audit on account of the significant management 2. Evaluated the design of internal controls relating to the
judgements applied in determining estimated quantity management’s process of making judgments and estimates
and transformation based on factors like stage of growth relating to quantity, biological transformation, and also tested
(determined based on the visible growth and systematic the operating effectiveness of the aforesaid controls.
crop estimation) and harvesting cycle of the crops and 3. Retrospectively compared the actual harvest data with the
their fair values less costs to sell which is based on factors growing produce that was estimated and recorded by the
like established conversion norms and the published management prior to harvest to assess the reasonableness
rates. of the process of prior estimation by the management and
Refer to Note 8 and Note 38 of the consolidated financial also to assess the reliability of the basis of management
statements for the fair value measurement, Note 2.2 judgement in estimating growing produce as at the balance
(i) for accounting policies and Note 2.3.(iv) relating to sheet date.
Valuation of Agricultural Produce under Key accounting
judgements, estimates and assumptions.


No.
With respect to valuation of growing produce:
management’s judgments and estimates for determining
fair value less cost to sell and also tested the operating
effectiveness of the aforesaid controls.
2. Validated the market information considered by the
management in determining the fair values.
3. Compared the estimate of costs to sell to the actual selling
cost incurred during the year to validate the reasonability of
the estimate of costs to sell considered in determining fair
values as at the Balance Sheet date.
2 Inventory of raw / cured coffee beans (“green coffee With respect to the net realisable value:
beans”), tea and pepper (Valuation) 1. Obtained an understanding of the determination of the net
Finished goods inventory are valued at lower of cost and realizable values of green coffee beans, tea and pepper and
net realizable value (estimated selling price less estimated assessed and tested the reasonableness of the significant
cost to sell). Considering that there is always a volatility in judgements applied by the management.
the selling price of green coffee beans, tea and pepper, 2. Evaluated the design of internal controls relating to the
which is dependent upon various market conditions, valuation of green coffee beans, tea and pepper and also
determination of the net realizable value for green coffee tested the operating effectiveness of the aforesaid controls.
beans, tea and pepper involves significant management
judgement and therefore has been considered as a key 3. To assess the reasonableness of the net realisable value that
audit matter. was estimated and considered by the management:
The total value of finished goods (commodities) as at • With respect to the committed stock of green coffee
March 22, 2022 is `21771.51 Lakh. Also refer to Note 2.3 beans for which the Parent Company has entered into
(iv) relating to Valuation of Agricultural Produce under contracts with the respective customers, on a sample
Key accounting judgements, estimates and assumptions. basis, compared the net realisable value with the rates
as per the said contracts;
• With respect to the uncommitted stock of green coffee
beans, obtained the market information relating to
coffee prices and assessed the reasonableness of the
adjustments that were made to such market prices to
estimate the net realisable value;
• With respect to the uncommitted stock of tea and
pepper, obtained the latest realization rates / market
information relating to prices and assessed the
reasonableness of the adjustments that were made to
such market prices to estimate the net realisable value;
• Verified the publicly available market information to
assess if there has been significant decrease in the rates
subsequent to the year end.
4. Compared the actual costs incurred to sell based on the latest
sale transactions to assess the reasonableness of the cost to
sell that was estimated and considered by the management.
5. Compared the cost of the finished goods with the estimated
net realisable value and checked if the finished goods were
recorded at net realisable value where the cost was higher
than the net realisable value.

Information Other than the Financial Statements and consolidated financial statements by the Directors of the Parent
Auditor’s Report Thereon Company, as aforesaid.
• The Parent’s Board of Directors is responsible for the other In preparing the consolidated financial statements, the respective
information. The other information comprises the the Board of Directors of the companies included in the Group are
information included in the Annual Report, for example, responsible for assessing the ability of the respective entities to
Corporate Overview, Key Highlights, Directors’ Report, continue as a going concern, disclosing, as applicable, matters
Report on Corporate Governance, Management Discussion related to going concern and using the going concern basis of
& Analysis Report, Business Responsibility Report, etc., but accounting unless the respective Board of Directors either intends
does not include the standalone financial statements, to liquidate their respective entities or to cease operations, or has
consolidated financial statements and our auditor’s report no realistic alternative but to do so.
thereon.
The respective Board of Directors of the companies included in the
• Our opinion on the consolidated financial statements does Group are also responsible for overseeing the financial reporting
not cover the other information and we do not express any process of the Group.
form of assurance conclusion thereon.
Auditor’s Responsibility for the Audit of the Consolidated
• In connection with our audit of the consolidated financial Financial Statements
statements, our responsibility is to read the other information,
Our objectives are to obtain reasonable assurance about whether
compare with the financial statements of the subsidiaries,
the consolidated financial statements as a whole are free from
audited by the other auditors, to the extent it relates to these
material misstatement, whether due to fraud or error, and to
entities and, in doing so, place reliance on the work of the
issue an auditor’s report that includes our opinion. Reasonable
other auditors and consider whether the other information
assurance is a high level of assurance, but is not a guarantee that
is materially inconsistent with the consolidated financial
an audit conducted in accordance with SAs will always detect a
statements or our knowledge obtained during the course of
material misstatement when it exists. Misstatements can arise
our audit or otherwise appears to be materially misstated.
from fraud or error and are considered material if, individually or
Other information so far as it relates to the subsidiaries, is
in the aggregate, they could reasonably be expected to influence
traced from their financial information audited by the other
the economic decisions of users taken on the basis of these
auditors.
consolidated financial statements.
• If, based on the work we have performed, we conclude that
As part of an audit in accordance with SAs, we exercise professional
there is a material misstatement of this other information, we
judgment and maintain professional skepticism throughout the
are required to report that fact. We have nothing to report in
audit. We also:
this regard.
• Identify and assess the risks of material misstatement of the
Management’s Responsibility for the Consolidated Financial
consolidated financial statements, whether due to fraud or
Statements
error, design and perform audit procedures responsive to
The Parent’s Board of Directors is responsible for the matters those risks, and obtain audit evidence that is sufficient and
stated in Section 134(5) of the Act with respect to the preparation appropriate to provide a basis for our opinion. The risk of not
of these consolidated financial statements that give a true and detecting a material misstatement resulting from fraud is
fair view of the consolidated financial position, consolidated higher than for one resulting from error, as fraud may involve
financial performance including other comprehensive income, collusion, forgery, intentional omissions, misrepresentations,
consolidated cash flows and consolidated changes in equity of or the override of internal control.
the Group in accordance with the Ind AS and other accounting
• Obtain an understanding of internal financial control
principles generally accepted in India. The respective Board of
relevant to the audit in order to design audit procedures that
Directors of the companies included in the Group are responsible
are appropriate in the circumstances. Under section 143(3)(i)
for maintenance of adequate accounting records in accordance
of the Act, we are also responsible for expressing our opinion
with the provisions of the Act for safeguarding the assets of
on whether the Parent has adequate internal financial
the Group and for preventing and detecting frauds and other
controls system in place and the operating effectiveness of
irregularities; selection and application of appropriate accounting
such controls.
policies; making judgments and estimates that are reasonable
and prudent; and design, implementation and maintenance • Evaluate the appropriateness of accounting policies used
of adequate internal financial controls, that were operating and the reasonableness of accounting estimates and related
effectively for ensuring the accuracy and completeness of the disclosures made by the management.
accounting records, relevant to the preparation and presentation • Conclude on the appropriateness of management’s use of
of the financial statements that give a true and fair view and are the going concern basis of accounting and, based on the
free from material misstatement, whether due to fraud or error, audit evidence obtained, whether a material uncertainty
which have been used for the purpose of preparation of the exists related to events or conditions that may cast significant

doubt on the ability of the Group to continue as a going in extremely rare circumstances, we determine that a matter
concern. If we conclude that a material uncertainty exists, we should not be communicated in our report because the adverse
are required to draw attention in our auditor’s report to the consequences of doing so would reasonably be expected to
related disclosures in the consolidated financial statements outweigh the public interest benefits of such communication.
or, if such disclosures are inadequate, to modify our opinion.
Other Matters
Our conclusions are based on the audit evidence obtained
up to the date of our auditor’s report. However, future events (a) We did not audit the financial information of 4 subsidiaries,
or conditions may cause the Group to cease to continue as a whose financial information reflect total assets of
going concern. `250957 Lakh as at 31 March, 2022, total revenues of
`155356 Lakh and net cash outflows amounting to
• Evaluate the overall presentation, structure and content
`10690 Lakh for the year ended on that date, as considered
of the consolidated financial statements, including the
in the consolidated financial statements. These financial
disclosures, and whether the consolidated financial
information have been audited by other auditors whose
statements represent the underlying transactions and
reports have been furnished to us by the Management and
events in a manner that achieves fair presentation.
our opinion on the consolidated financial statements, in
• Obtain sufficient appropriate audit evidence regarding the so far as it relates to the amounts and disclosures included
financial information of the entities within the Group to in respect of these subsidiaries, and our report in terms of
express an opinion on the consolidated financial statements. subsection (3) of Section 143 of the Act, in so far as it relates
We are responsible for the direction, supervision and to the aforesaid subsidiaries is based solely on the reports of
performance of the audit of the financial statements of such the other auditors.
entities included in the consolidated financial statements
Our opinion on the consolidated financial statements above and
of which we are the independent auditors. For the other
our report on Other Legal and Regulatory Requirements below, is
entities included in the consolidated financial statements,
not modified in respect of the above matter with respect to our
which have been audited by other auditors, such other
reliance on the work done and the reports of the other auditors.
auditors remain responsible for the direction, supervision
and performance of the audits carried out by them. We Report on Other Legal and Regulatory Requirements
remain solely responsible for our audit opinion.
1. As required by Section 143(3) of the Act, based on our audit
Materiality is the magnitude of misstatements in the consolidated and on the consideration of the reports of the other auditors
financial statements that, individually or in aggregate, makes on the separate financial information of the subsidiaries
it probable that the economic decisions of a reasonably referred to in the Other Matters section above we report, to
knowledgeable user of the consolidated financial statements the extent applicable that:
may be influenced. We consider quantitative materiality and
a) We have sought and obtained all the information and
qualitative factors in (i) planning the scope of our audit work and
explanations which to the best of our knowledge and
in evaluating the results of our work; and (ii) to evaluate the effect
belief were necessary for the purposes of our audit of
of any identified misstatements in the consolidated financial
the aforesaid consolidated financial statements.
statements.
b) In our opinion, proper books of account as required
We communicate with those charged with governance of the
by law relating to preparation of the aforesaid
Parent and such other entities included in the consolidated
consolidated financial statements have been kept so
financial statements of which we are the independent auditors
far as it appears from our examination of those books,
regarding, among other matters, the planned scope and timing of
and the reports of the other auditors.
the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit. c) The Consolidated Balance Sheet, the Consolidated
Statement of Profit and Loss including Other
We also provide those charged with governance with a statement
Comprehensive Income, the Consolidated Cash Flow
that we have complied with relevant ethical requirements
Statement and the Consolidated Statement of Changes
regarding independence, and to communicate with them all
in Equity dealt with by this Report are in agreement
relationships and other matters that may reasonably be thought
with the relevant books of account maintained for the
to bear on our independence, and where applicable, related
purpose of preparation of the consolidated financial
safeguards.
statements.
From the matters communicated with those charged with
d) In our opinion, the aforesaid consolidated financial
governance, we determine those matters that were of most
statements comply with the Ind AS specified under
significance in the audit of the consolidated financial statements
Section 133 of the Act.
of the current period and are therefore the key audit matters.
We describe these matters in our auditor’s report unless law or e) On the basis of the written representations received
regulation precludes public disclosure about the matter or when, from the directors of the Parent as on 31 March,

2022 taken on record by the Board of Directors of Parent (“Ultimate Beneficiaries”) or provide
the Company, none of the directors of the Parent is any guarantee, security or the like on behalf
disqualified as on 31 March, 2022 from being appointed of the Ultimate Beneficiaries.
as a director in terms of Section 164 (2) of the Act.
(b) The Management of the Parent Company,
f ) With respect to the adequacy of the internal financial whose financial statements have been
controls over financial reporting and the operating audited under the Act, have represented to
effectiveness of such controls, refer to our separate us that, to the best of their knowledge and
Report in “Annexure A” which is based on the auditors’ belief, no funds (which are material either
reports of the Parent. Our report expresses an individually or in the aggregate) have been
unmodified opinion on the adequacy and operating received by the Parent from any person(s)
effectiveness of internal financial controls over financial or entity(ies), including foreign entities
reporting of the Parent. (“Funding Parties”), with the understanding,
whether recorded in writing or otherwise,
g) With respect to the other matters to be included in the
that the Parent shall, directly or indirectly,
Auditor’s Report in accordance with the requirements of
lend or invest in other persons or entities
Section 197(16) of the Act, as amended, in our opinion
identified in any manner whatsoever by or
and to the best of our information and according to the
on behalf of the Funding Party (“Ultimate
explanations given to us, the remuneration paid by the
Beneficiaries”) or provide any guarantee,
Parent to its directors during the year is in accordance
security or the like on behalf of the Ultimate
with the provisions of section 197 of the Act.
Beneficiaries.
h) With respect to the other matters to be included
(c) Based on the audit procedures that
in the Auditor’s Report in accordance with Rule 11
has been considered reasonable and
of the Companies (Audit and Auditors) Rules, 2014,
appropriate in the circumstances performed
as amended in our opinion and to the best of our
by us, nothing has come to our or other
information and according to the explanations given
auditor’s notice that has caused us to
to us:
believe that the representations under
i) The consolidated financial statements disclose the sub-clause (i) and (ii) of Rule 11(e), as
impact of pending litigations on the consolidated provided under (a) and (b) above, contain
financial position of the Group; any material misstatement.
ii) Provision has been made in the consolidated v) The final dividend proposed in the previous year,
financial statements, as required under the declared and paid by the Parent during the year
applicable law or accounting standards, for is in accordance with Section 123 of the Act, as
material foreseeable losses, if any, on long-term applicable.
contracts including derivative contracts;
As stated in Note 12 (a) to the financial
iii) There has been no delay in transferring amounts, statements, the Board of Directors of the Parent
required to be transferred, to the Investor have proposed final dividend for the year which
Education and Protection Fund by the Parent;. is subject to the approval of the members at the
iv) (a) The Management of the Parent Company, ensuing Annual General Meeting. The amount of
whose financial statements have been dividend proposed is in accordance with Section
audited under the Act, have represented 123 of the Act, as applicable.
to us, to the best of their knowledge and
belief, no funds (which are material either For DELOITTE HASKINS & SELLS LLP
individually or in the aggregate) have been Chartered Accountants
advanced or loaned or invested (either from (Firm’s Registration No. 117366W/W-100018)
borrowed funds or share premium or any
other sources or kind of funds) by the Parent Arunabha Bhattacharya
to or in any other person(s) or entity(ies), Partner
including foreign entities (“Intermediaries”),
(Membership No. 054110)
with the understanding, whether recorded
(UDIN: 22054110AHUVIN4021)
in writing or otherwise, that the Intermediary
shall, directly or indirectly lend or invest in Place : Kolkata
other persons or entities identified in any Date : April 26, 2022
manner whatsoever by or on behalf of the

ANNEXURE “A” TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 1 (f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)
Report on the Internal Financial Controls Over Financial Meaning of Internal Financial Controls Over Financial
Reporting under Clause (i) of Sub-section 3 of Section 143 of Reporting
the Companies Act, 2013 (“the Act”) A company’s internal financial control over financial reporting is a
In conjunction with our audit of the consolidated Ind AS financial process designed to provide reasonable assurance regarding the
statements of the Company as of and for the year ended reliability of financial reporting and the preparation of financial
31 March, 2022, we have audited the internal financial controls statements for external purposes in accordance with generally
over financial reporting of Tata Coffee Limited (hereinafter accepted accounting principles. A company’s internal financial
referred to as “Parent”), as of that date. control over financial reporting includes those policies and
Management’s Responsibility for Internal Financial Controls procedures that (1) pertain to the maintenance of records that,
in reasonable detail, accurately and fairly reflect the transactions
The Board of Directors of the Parent is responsible for establishing and dispositions of the assets of the company; (2) provide
and maintaining internal financial controls based on the internal reasonable assurance that transactions are recorded as necessary
control over financial reporting criteria established by the to permit preparation of financial statements in accordance with
Company considering the essential components of internal control generally accepted accounting principles, and that receipts and
stated in the Guidance Note on Audit of Internal Financial Controls expenditures of the company are being made only in accordance
Over Financial Reporting issued by the Institute of Chartered with authorisations of management and directors of the company;
Accountants of India (“the ICAI)”. These responsibilities include the and (3) provide reasonable assurance regarding prevention or
design, implementation and maintenance of adequate internal timely detection of unauthorised acquisition, use, or disposition
financial controls that were operating effectively for ensuring of the company’s assets that could have a material effect on the
the orderly and efficient conduct of its business, including financial statements.
adherence to the Parent’s policies, the safeguarding of its assets, Inherent Limitations of Internal Financial Controls Over
the prevention and detection of frauds and errors, the accuracy Financial Reporting
and completeness of the accounting records, and the timely Because of the inherent limitations of internal financial controls
preparation of reliable financial information, as required under the over financial reporting, including the possibility of collusion
Companies Act, 2013. or improper management override of controls, material
Auditor’s Responsibility misstatements due to error or fraud may occur and not be
Our responsibility is to express an opinion on the Parent’s internal detected. Also, projections of any evaluation of the internal
financial controls over financial reporting based on our audit. financial controls over financial reporting to future periods are
We conducted our audit in accordance with the Guidance Note subject to the risk that the internal financial control over financial
on Audit of Internal Financial Controls Over Financial Reporting reporting may become inadequate because of changes in
(the “Guidance Note”) issued by the Institute of Chartered conditions, or that the degree of compliance with the policies or
Accountants of India and the Standards on Auditing, prescribed procedures may deteriorate.
under Section 143(10) of the Companies Act, 2013, to the Opinion
extent applicable to an audit of internal financial controls. Those In our opinion to the best of our information and according to the
Standards and the Guidance Note require that we comply with explanations given to us, the Parent, has, in all material respects,
ethical requirements and plan and perform the audit to obtain an adequate internal financial controls system over financial
reasonable assurance about whether adequate internal financial reporting and such internal financial controls over financial
controls over financial reporting was established and maintained reporting were operating effectively as at 31 March, 2022, based
and if such controls operated effectively in all material respects. on the internal control over financial reporting criteria established
Our audit involves performing procedures to obtain audit by the Company considering the essential components of internal
evidence about the adequacy of the internal financial controls control stated in the Guidance Note on Audit of Internal Financial
system over financial reporting and their operating effectiveness. Controls Over Financial Reporting issued by the Institute of
Our audit of internal financial controls over financial reporting Chartered Accountants of India.
included obtaining an understanding of internal financial For DELOITTE HASKINS & SELLS LLP
controls over financial reporting, assessing the risk that a material Chartered Accountants
weakness exists, and testing and evaluating the design and (Firm’s Registration No. 117366W/W-100018)
operating effectiveness of internal control based on the assessed
risk. The procedures selected depend on the auditor’s judgement, Arunabha Bhattacharya
including the assessment of the risks of material misstatement of Partner
the financial statements, whether due to fraud or error. (Membership No. 054110)
We believe that the audit evidence we have obtained, is sufficient (UDIN: 22054110AHUVIN4021)
and appropriate to provide a basis for our audit opinion on the Place : Kolkata
Parent’s internal financial controls system over financial reporting. Date : April 26, 2022

Consolidated Balance Sheet
₹ Lakh
ASSETS
Non-current Assets
Property, Plant and Equipment 1 (a) 85795.71 86963.92
Capital Work-in-progress 1 (a) 7392.52 4669.42
Right-of-Use Assets 1 (b) 8820.12 8941.84
Investment Property 2 1731.55 3316.93
Goodwill 3 131211.65 126566.73
Other Intangible Assets 3 11821.14 12658.14
Financial Assets
Investments 4 11.28 26.10
Loans 5 20.98 16.45
Non-current Tax Assets 17 1288.13 1425.57
Other Non-current Assets 7 786.41 1267.19
248916.32 245917.71
Current Assets
Inventories including Biological Assets 8 57409.47 42813.82
Financial Assets
Investments 4 4093.73 3538.82
Trade Receivables 9 29320.59 21321.32
Cash and Cash Equivalents 10 8215.24 23968.24
Other Bank Balances 10 9877.53 4494.12
Loans 5 177.76 7210.20
Other Current Assets 7 4365.95 3389.69
119903.97 111019.72
Non Current Assets held for sale 11 49.20 125.33
Total Assets 368869.49 357062.76
EQUITY AND LIABILITIES
Equity
Equity Share Capital 12 (a) 1867.70 1867.70
Other Equity 12 (b) 149962.56 135098.00
151830.26 136965.70
Non-controlling interests 50725.01 45035.71
Total Equity 202555.27 182001.41
Liabilities
Non-current liabilities
Borrowings 14 (a) 50523.34 50685.58
Provisions 16 3578.22 3938.67
Deferred Tax Liabilities (Net) 17 14644.23 13917.51
77387.14 77599.98
Current liabilities
Borrowings 14 (a) 51312.29 65028.99
Trade Payables
(a) Total outstanding dues of Micro and Small Enterprises 18 (a) 69.51 243.69
(b) Total outstanding dues of creditors other than Micro and Small Enterprises 18 (b) 17048.26 12657.09
Provisions 16 272.44 279.44
Current Tax Liabilities 17 340.79 172.37
Other Current Liabilities 19 1735.93 1972.61
88927.08 97461.37
Total Equity and Liabilities 368869.49 357062.76
The accompanying significant accounting policies and notes form an integral part of the Consolidated financial statements.

Place: Bengaluru

Consolidated Statement of Profit and Loss

₹ Lakh
INCOME
Revenue from operations 20 236350.10 225494.84
Other Income 21 2572.60 3379.32
Total Income 238922.70 228874.16
EXPENSES
Cost of materials consumed 22 (a) 86673.69 75313.78
Purchases of Stock-in-trade 22 (b) 37110.19 36020.59
Changes in Inventories of finished goods, work-in-progress, Stock-in-trade and Biological 22 (c) (9546.74) 787.44
Assets
Employee benefits expense 23 37026.09 35221.76
Finance costs 24 4648.02 5357.55
Depreciation and amortisation expense 8095.49 8278.24
Other expenses 25 43175.67 39146.14
Total Expenses 207182.41 200125.50
Profit before exceptional items and tax 31740.29 28748.66
Exceptional Items 26 (626.32) (315.89)
Profit before tax 31113.97 28432.77
Tax Expense
Current tax 17 7626.26 6579.38
Deferred tax 17 147.63 698.61
Total tax expense 7773.89 7277.99
Profit for the period 23340.08 21154.78
Attributable to:
Owners of the Holding Company 14773.10 13364.04
Net Profit for the period / year 23340.08 21154.78
Other Comprehensive Income 4519.50 (872.48)
Items that will not be reclassified to profit/(loss) 5.84 444.26
Remeasurements of the defined benefit plans 70.84 459.36
Equity instruments through other comprehensive income 0.33 0.79
Income tax relating to items that will not be reclassified to profit or loss (65.33) (15.89)
Items that will be reclassified to profit/(loss) 4513.66 (1316.74)
Exchange differences on translation of foreign operations 3754.87 (3316.67)
Effective portion of Gains/(Loss) in cash flow hedges 514.41 2206.98
Income tax on items that will be reclassified to profit or loss 244.38 (207.05)
Total Comprehensive Income for the period 27859.58 20282.30
Total comprehensive income for the period attributable to:
Owners of the Holding Company 17722.85 13738.26
Earnings per equity share
Basic & Diluted 34 7.91 7.16

Place: Bengaluru

₹ Lakh
186
Equity Other Equity Total Total
Other Owners’
Number of Equity Surplus Items of Other Comprehensive Income
Equity Equity
Shares Share
Capital Securities General General Amalgamation Retained Equity Effective Foreign Actuarial
Capital
Redemption Premium Reserves Reserves Reserves Earnings instruments portion Currency Gain/
Reserve I II through Other of Cash Translation (Loss)
Comprehensive Flow Reserve
Income Hedges
Balance as at 186770370 1867.70 10.41 14424.27 23827.79 11765.64 832.53 67792.26 (0.05) (2263.73) 8527.61 (1328.74) 123587.99 125455.69
April 1, 2020
Profit for the year 13364.04 13364.04 13364.04
Other Comprehensive 0.79 1707.72 (1780.33) 443.47 371.65 371.65
Income for the year, net

of Income Tax
Total Comprehensive - - - - - 13364.04 0.79 1707.72 (1780.33) 443.47 13735.69 13735.69
Income for the year
Dividends (2801.55) (2801.55) (2801.55)
Transfer from Retained 826.94 (826.94) - -
Earnings
Transfer to Retained 575.87 575.87 575.87
Earnings (Net of Deferred
Tax) - Transitional impact
of Ind AS 116
Balance as at 186770370 1867.70 10.41 14424.27 23827.79 12592.58 832.53 78103.68 0.74 (556.01) 6747.28 (885.27) 135098.00 136965.70
April 1, 2021
Profit for the year 14773.10 14773.10 14773.10
Other Comprehensive - 0.33 910.17 1977.00 5.51 2893.01 2893.01
Income for the year, net
of Income Tax
Total Comprehensive - - - - - 14773.10 0.33 910.17 1977.00 5.51 17666.11 17666.11
Income for the year
Dividends (2801.55) (2801.55) (2801.55)
Transfer from Retained 1597.08 (1597.08) - -
Earnings
Consolidated Statement of Changes in Equity
Balance as at 186770370 1867.70 10.41 14424.27 23827.79 14189.66 832.53 88478.15 1.07 354.16 8724.28 (879.76) 149962.56 151830.26
March 31, 2022

Place: Bengaluru
Consolidated Cash Flow Statement

₹ Lakh

Cash flows from operating activities
Profit Before Tax for the year 31113.97 28432.77
Adjustments for:
Depreciation and amortisation 8095.49 8278.24
Interest Income (551.89) (711.27)
Dividend income from Other Non Current Investments (0.01) (0.02)
Net Gain on Sale of Current Investments (129.92) (211.72)
Loss / (Gain) on investments carried at fair value through Profit or Loss (20.54) 68.92
Rental Income from Investment Property (242.02) (381.07)
Finance Costs 4648.02 5357.55
Unrealised foreign exchange (gain) / loss (47.95) 385.78
Exceptional Items 626.32 315.89
(Profit) / loss on sale of Property, Plant and Equipment 50.15 (1300.48)
Profit on Sale of Biological Assets - Timber (Net) (1597.08) (826.94)
Sub-Total 10830.57 10974.88
Operating Profit Before Working Capital Changes 41944.54 39407.65
Movements in working capital:
Trade Receivables (7306.28) 2235.36
Other Financial Assets (2216.50) 1864.62
Loans 27.91 130.17
Other Current and Non-current Assets (557.08) (9.94)
Inventories including Biological Assets (13873.96) (1879.04)
Trade Payables 3611.18 (2207.13)
Other Financial Liabilities 540.21 (2040.39)
Other Current Liabilities (255.71) 119.18
Provisions (480.84) (97.24)
Changes in Working Capital (20511.07) (1884.41)
Cash Generated from Operations 21433.47 37523.24
Income taxes paid (7104.56) (7320.98)
Net Cash Flows from Operating Activities (A) 14328.91 30202.26

Consolidated Cash Flow Statement [Contd.]
₹ Lakh

Cash flows from investing activities
Interest received 668.91 318.54
Other dividends received 0.01 0.02
Payments for property, plant and equipment and Intangibles (6364.64) (3357.99)
Rental Income from Investment Property 242.02 381.07
Proceeds from Sale of property, plant and equipment and Intangibles 1835.79 3063.16
Inter Corporate Deposits Placed (Net) 7000.00 (7000.00)
Net cash (outflow)/inflow on Purchase/Sale of Mutual Funds (404.45) 7508.01
Movement in Other Bank Balances (5395.06) (4255.33)
Sale/(Purchase) of Non-current Investments 15.15 1.50
Net Cash Flows used in Investing Activities (B) (805.19) (2514.08)
Cash flows from financing activities
Proceeds from / (repayment of ) Current Borrowings (Net) 2329.87 4777.03
Proceeds from / (repayment of ) Non-current Borrowings (Net) (19763.37) (6873.61)
Dividend/Dividend Tax (7183.85) (7235.86)
Payment of finance lease obligations (569.90) (513.93)
Proceeds from refund of Dividend Distribution Tax earlier paid - 907.00
Finance Cost paid (4464.44) (5152.26)
Net Cash Flows used in Financing Activities (C ) (29651.69) (14091.63)
Net Increase / (Decrease) In Cash and Cash Equivalents (A+B+C) (16127.97) 13596.55
Cash and cash equivalents at the beginning of the year 23968.24 10753.26
Effects of exchange rate changes on the balance of cash held in foreign currencies 374.97 (381.57)
Cash and cash equivalents at the end of the year 8215.24 23968.24

Place: Bengaluru

Notes
to the Consolidated Financial Statements for the year ended March 31, 2022
1. General Information c) Basis of consolidation

Tata Coffee Limited (“the Holding Company”) and its The consolidated financial statements have been
subsidiaries (together “the Group”) are engaged in the prepared on the following basis:
production, trading and distribution of Coffee, Tea and Allied
Subsidiaries
products. The Group has business operations mainly in India,
USA, CIS countries, Europe, Africa and Vietnam. Subsidiaries are all entities over which the Group
The Holding Company is a public limited company has control. The Group controls an entity when
incorporated and domiciled in India and has its registered the Group is exposed to, or has rights to, variable
office at Pollibetta, Kodagu, Karnataka, India. The Holding returns from its involvement with the entity and
Company has its listings on BSE Limited and National Stock has the ability to affect those returns through
Exchange of India Limited. its power over the entity. Subsidiaries are fully
consolidated from the date on which control
The Financial Statements for the year ended March 31, 2022 is transferred to the Group and ceases to be
were approved for issue by Company’s Board of Directors on consolidated when the Group loses control of the
April 26, 2022. subsidiary. Fully consolidated means recognition
of like items of assets, liabilities, equity, income
2. Preparation and Presentation of Consolidated and expense. Thereafter the portion of net profit
Financial Statements and equity is segregated between the Group’s
2.1 Basis of preparation and measurement share and share of non-controlling stake holders.
a) Basis of preparation Inter-company transactions, balances and
The consolidated financial statements are unrealised gains on transactions between Group
prepared in accordance with and in compliance, companies are eliminated.
in all material aspects, with Indian Accounting
Unrealised losses are also eliminated if there is a
Standards (Ind AS) notified under Section 133 of
profit on ultimate sale of goods. When necessary,
the Companies Act, 2013 (the “Act”) read along
amounts reported by subsidiaries have been
with Companies (Indian Accounting Standards)
adjusted to conform to the Group’s accounting
Rules, as amended and other provisions of the
policies.
Act. On March 24, 2021, the Ministry of Corporate
Affairs (MCA) through a notification, amended Subsidiaries included in Consolidation
Schedule III of the Companies Act, 2013 and the
amendments are applicable for financial periods Name of the Country of Nature of Shareholding/
Enterprise Incorporation Business Controlling
commencing from April 1, 2021. The Group has interest
evaluated the effect of the amendments on its
Consolidated Coffee USA Investment 50.08%
financial statements and complied with the same. Inc.
b) Basis of measurement Eight O’Clock USA Investment 50.08%

Holdings Inc.
The consolidated financial statements have
Eight O’Clock Coffee USA Roasted Coffee 50.08%
been prepared on an accrual basis and in Company Beans and
accordance with the historical cost convention, R&G Powder
unless otherwise stated. All assets and liabilities Tata Coffee Vietnam Vietnam Instant Coffee 100%
are classified into current and non-current Company Limited
generally based on nature of product/activities
of the Company and the normal time between 2.2 Significant Accounting Policies:
acquisition of assets/liabilities and their The principal accounting policies applied in the
realisation/settlement in cash or cash equivalent. preparation of the consolidated financial statements
The Company has determined its operating cycle are set out below. These policies have been consistently
as 12 months for the purpose of classification of its applied to all the years presented, unless otherwise
assets and liabilities as current and non-current. stated.

Notes
(a) Business Combination the acquisition date; any gains or losses arising
The Group applies the acquisition method from such re-measurement are recognised in
to account for business combinations. The profit or loss or other comprehensive income, as
consideration transferred for the acquisition of a appropriate.
subsidiary comprises of the, If the initial accounting for a business combination
- fair values of the assets transferred, can be determined only provisionally by the
end of the first reporting period, the business
- liabilities incurred to the former owners of the combination is accounted for using provisional
acquired business, amounts. Adjustments to provisional amounts,
and the recognition of newly identified asset and
- equity interests issued by the Group and
liabilities, must be made within the ‘measurement
- fair value of any asset or liability resulting from a period’ where these reflect new information
contingent consideration arrangement obtained about facts and circumstances that
were in existence at the acquisition date. The
Identifiable assets acquired and liabilities and
measurement period cannot exceed one year
contingent liabilities assumed in a business
from the acquisition date and no adjustments
combination are measured initially at their fair
are permitted after one year except to correct an
values at the acquisition date. The excess of the
error.
fair value of consideration over the identifiable
net asset acquired is recorded as goodwill. If the Any contingent consideration to be transferred
consideration is lower, the gain is recognised by the Group is recognised at fair value at the
directly in equity as capital reserve. In case, acquisition date. Subsequent changes to the
business acquisition is classified as bargain fair value of the contingent consideration that is
purchase, the aforementioned gain is recognised deemed to be an asset or liability is recognised
in the other comprehensive income and in the Statement of Profit and Loss. Contingent
accumulated in equity as capital reserve. The consideration that is classified as equity is not
Group recognises any non-controlling interest in re-measured, and its subsequent settlement is
the acquired entity at fair value. accounted for within equity.
Changes in ownership that do not result in a (b) Property, Plant and Equipment
change of control are accounted for as equity i) Recognition and measurement:
transactions and therefore do not have any
Property, plant and equipment including
impact on goodwill. The difference between
bearer assets are carried at historical cost of
consideration and the non-controlling share of
acquisition or deemed cost less accumulated
net assets acquired is recognised within equity.
depreciation and accumulated impairment
Business combinations involving entities or loss, if any. Historical cost includes its
businesses under common control are accounted purchase price, including import duties
for using the pooling of interest method. Under and non-refundable purchase taxes after
pooling of interest method, the assets and deducting trade discounts and rebates and
liabilities of the combining entities are reflected any cost directly attributable to bringing
at their carrying amounts, with adjustments only the asset to the location and condition
to harmonise accounting policies. necessary for it to be capable of operating
in the manner intended by management.
Acquisition-related costs are expensed as
Subsequent expenditure related to an
incurred.
asset is added to its book value only when
If the business combination is achieved in it is probable that future economic benefits
stages, the acquisition date carrying value of associated with the item will flow to the
the acquirer’s previously held equity interest Group and the cost of the item can be
in the acquiree is re-measured to fair value at measured reliably. The carrying amount

Notes
of the replaced part is derecognized. All Gains and losses on disposals are determined
repairs and maintenance are charged to by comparing the sale proceeds with the
the Statement of Profit and Loss during the carrying amount and are recognised in the
financial year in which these are incurred. Statement of Profit and Loss.
ii) Depreciation: (c) Biological Assets
Depreciation is provided on assets to get the Biological assets are classified as Bearer biological
initial cost down to the residual value. Land assets and agricultural produce. Bearer Biological
is not depreciated. Depreciation is provided Assets which are held to bear agricultural produce
on a straight-line basis over the estimated are classified as Bearer plants.
useful life of the asset as prescribed in
Bearer plants are recognised under Property,
Schedule II to the Companies Act, 2013 or
Plant and Equipment on fulfilment of the
based on a technical evaluation of the asset.
following conditions.
Cost incurred on assets under development
are disclosed under capital work in progress 1. Is used in the production or supply of
and not depreciated till asset is ready to use agricultural produce;
i.e. when it is in the location and condition 2. Is expected to bear produce for more than
necessary for it to be capable of operating one period; and has a remote likelihood of
in the manner intended by management.
being sold as agricultural produce, except
Estimated useful life of items of Property,
for incidental scrap sales
Plant and Equipment are as follows:
Tea bushes, Coffee bushes, Pepper vines,
Type of Assets Estimated Useful Cardamom tiller and Shade trees are recognised
Life (in years) as Bearer biological assets. These are classified
Leasehold Land Perpetual Lease as mature Bearer Plants and Immature Bearer
Buildings including Water 28-58 Plants. Mature Bearer Plants are those that have
supply System
attained harvestable stage. Cost incurred for new
Roads/Carpeted/Non- 10 plantations and immature areas are capitalised.
Carpeted
Cost includes cost of land preparation, new
Irrigation Systems 10-20
planting and maintenance till maturity. The cost
Electrical Installations 20
of areas coming into bearing is transferred to
Plant & Machinery - 18 mature plantations and depreciated over their
Continuous Process
estimated useful lives.
Plant & Machinery – 20
Others Bearer plants relating to Coffee and Tea bushes,
Furniture & Fittings 15 Pepper vines and minor produces attain a
Computers 6 harvestable stage in about 3-5 years.
Motor Vehicles 10 Bearer biological assets are carried at cost less
Office Equipment 5 accumulated depreciation and accumulated
impairment loss, if any. Subsequent expenditure
The residual values and useful lives for
depreciation of property, plant and equipment on bearer assets are added to its book value only
are reviewed at each financial year end and when it is probable that future economic benefits
adjusted prospectively, if appropriate. associated with the item will flow to the Company
and the cost of the item can be measured reliably.
An asset’s carrying amount is written down
Mature bearer plants are depreciated over their
immediately to its recoverable amount if the
asset’s carrying amount is greater than its estimated useful life. Immature bearer plants
estimated recoverable amount. Recoverable are tested for impairment / obsolescence. The
amount is higher of the value in use or estimated useful life of mature bearer plants is as
exchange. follows:

Notes
Type of Bearer Biological Estimated Useful Goodwill is not amortised but is tested for
Assets Life (in years) impairment. Goodwill impairment reviews
Arabica Coffee Plants 30 are generally undertaken annually. The
Robusta Coffee Plants 58 carrying value of the Cash Generating
Tea Bushes 58 Unit containing the goodwill is compared
to the recoverable amount, which is the
Pepper Vines & Cardamom 35
Tillers higher of value in use and the fair value
Silver oak and Shade 35 less costs of disposal. Any impairment is
Management Trees recognised immediately as an expense
and is not subsequently reversed. Goodwill
Refer Para 2.2. (h) for accounting of agricultural is subsequently measured at cost less
produce. amounts provided for impairment.
(d)
Investment Property (ii)
Brands and Trademarks
Property that is held for long-term rental yields Brands / trademarks acquired as part of a
or for capital appreciation or both, and that is business combination is recognised outside
not used in the production of goods and services goodwill, at deemed cost on transition date.
or for the administrative purposes is classified
as investment property. Investment property is Amortisation is charged on a straight-line
measured initially at cost, including transaction basis over a period of 20-35 years. The
costs. Subsequent to initial recognition, carrying values of brands / trademarks
investment properties are stated at cost less are reviewed annually or more frequently
accumulated depreciation and accumulated for impairment if events or changes in
impairment losses, if any. Subsequent expenditure circumstances indicate that the carrying
related to investment properties are added to its value may not be recoverable.
book value only when it is probable that future (iii)
Computer software
economic benefits associated with the item will
Acquired computer software licences are
flow to the Group and the cost of the item can
capitalised on the basis of the costs incurred
be measured reliably. Investment properties
to acquire and bring to use the specific
are depreciated using the straight-line method
software. These costs are amortised over
over the estimated useful lives. The Group’s
their estimated useful lives of 3 to 5 years.
depreciable investment properties have a useful
life of 50 years. (f) Impairment of tangible and intangible assets
(e) Intangible Assets Assets that are subject to depreciation or
amortisation are reviewed for impairment
(i) Goodwill
whenever events or changes in circumstances
Goodwill arising on the acquisition of indicate that the carrying amount may not be
subsidiaries represents the excess of recoverable. An impairment loss is recognised for
the fair value of consideration over the the amount by which the asset’s carrying amount
identifiable net asset acquired. Fair value exceeds its recoverable amount. The recoverable
of consideration represents the aggregate amount is the higher of an asset’s fair value less
of the consideration transferred, a reliable costs of disposal and value in use. For the purposes
estimate of contingent consideration of assessing impairment, assets are grouped at
payable, the amount of any non-controlling the lowest possible levels for which there are
interest in the acquiree and the fair value of independent cash inflows (cash-generating
any previous equity interest in the acquiree units). Prior impairment of non-financial assets
on the acquisition date. Net assets acquired (other than goodwill) are reviewed for possible
represents the fair value of the identifiable reversal of impairment losses at each reporting
assets acquired and liabilities assumed. date. Intangible assets that have an indefinite

Notes
useful life or intangible assets not ready to use Group has exercised the option to classify
are not subject to amortisation and are tested the investment as at FVTOCI, all fair value
annually for impairment. changes on the investment are recognised
in Other Comprehensive Income (OCI). The
(g) Non-current assets held for sale accumulated gains or losses recognised in
Non-current assets held for sale are presented OCI are reclassified to retained earnings on
separately in the Balance Sheet when the sale of such investments.
following criteria are met:
iii) Financial assets at Fair Value through
- the Group is committed to selling the asset; Profit and loss (FVTPL) - Financial assets
which are not classified in any of the
- the assets are available for sale immediately;
categories above are measured at FVTPL.
- an active plan of sale has commenced; and iv) Impairment of financial assets - The
- sale is expected to be completed within 12 Group assesses expected credit losses
months. associated with its assets carried at
amortised cost and fair value through other
Assets held for sale and disposal groups are comprehensive income based on Group’s
measured at the lower of their carrying amount past history of recovery, credit-worthiness
and fair value less cost to sell. Assets held for sale of the counter party and existing market
are no longer amortised or depreciated. conditions. The impairment methodology
applied depends on whether there has
(h)
Financial Instruments
been a significant increase in credit risk.
Financial assets For trade receivables, the Group applies
The Group classifies its financial assets in the the simplified approach for recognition of
following categories: impairment allowance as provided in Ind AS
109 – Financial Instruments, which requires
i) Financial assets at amortised cost- Assets
expected lifetime losses to be recognised
that are held for collection of contractual
on initial recognition of the receivables.
cash flows where those cash flows represent
solely payments of principal and interest are Financial liabilities
measured at amortised cost. Initial recognition and measurement
All financial liabilities are recognised initially at
These are presented as current assets, except fair value and in case of loans and borrowings net
for those maturing later than 12 months of directly attributable costs.
after the reporting date which are presented
as non-current assets. Financial assets are Financial liabilities are subsequently measured at
measured initially at fair value which usually amortised cost using effective interest method.
represents cost plus transaction costs and For trade and other payable maturing within one
subsequently, if maturing after 12 months year from the Balance Sheet date, the carrying
period, using the effective interest method, value approximates fair value due to short
less any impairment loss. maturity of these investments.
Derivative financial instruments and hedging
Financial assets at amortised cost are
activities
represented by trade receivables, security
A derivative is a financial instrument which
and other deposits, cash and cash
changes value in response to changes in an
equivalent, employee and other advances.
underlying asset and is settled at a future date.
ii) Financial Assets at Fair Value through Derivatives are initially recognised at fair value
Other Comprehensive Income (FVTOCI) on the date a derivative contract is entered into
- All equity investments are measured and are subsequently re-measured at their fair
at fair values. Investments which are not value. The method of recognising the resulting
held for trading purposes and where the gain or loss depends on whether the derivative

Notes
is designated as a hedging instrument, and if so, in the periods when the hedged item affects the
the nature of the item being hedged. The Group Statement of Profit and Loss.
designates certain derivatives as either:
When a hedging instrument expires or swapped
(a) hedges of the fair value of recognised assets or unwound, or when a hedge no longer meets the
or liabilities (fair value hedge); or criteria for hedge accounting, any accumulated
gain or loss existing in statement of changes in
(b) hedges of a particular risk associated with
equity is recognised in the Statement of Profit and
a firm commitment or a highly probable
Loss.
forecasted transaction (cash flow hedge).
When a forecasted transaction is no longer
The Group documents at the inception of the
expected to occur, the cumulative gains/losses
transaction the relationship between hedging
that were reported in equity are immediately
instruments and hedged items, as well as its
transferred to the Statement of Profit and Loss.
risk management objectives and strategy for
undertaking various hedging transactions. The Financial Guarantee Contracts
Group also documents its assessment, both at
A financial guarantee contract is a contract that
hedge inception and on an on-going basis, of
requires the issuer to make specified payments to
whether the derivatives that are used in hedging
reimburse the holder for a loss it incurs because
transactions are effective in offsetting changes in
the beneficiary fails to make payments when
cash flows of hedged items.
due in accordance with the terms of a debt
Movements in the hedging reserve are accounted instrument. Financial guarantee contracts issued
in other comprehensive income and are shown by the Company are measured at their applicable
within the statement of changes in equity. The fair values.
full fair value of a hedging derivative is classified
as a non-current asset or liability when the Fair value measurement
remaining maturity of hedged item is more than The Group classifies the fair value of its financial
12 months and as a current asset or liability when instruments in the following hierarchy, based on
the remaining maturity of the hedged item is less the inputs used in their valuation:
than 12 months. Trading derivatives are classified
i) Level 1: The fair value of financial
as a current asset or liability.
instruments quoted in active markets is
(a) Fair value hedges based on their quoted closing price at the
Balance Sheet date.
Changes in the fair value of derivatives that
are designated and qualify as fair value ii) Level 2: The fair value of financial
hedges are recorded in the Statement of instruments that are not traded in an active
Profit and Loss, together with any changes in market is determined by using valuation
the fair value of the hedged asset or liability techniques using observable market
that are attributable to the hedged risk. data. Such valuation techniques include
discounted cash flows, standard valuation
(b) Cash flow hedges
models based on market parameters
The effective portion of changes in the fair for interest rates, yield curves or foreign
value of derivatives that are designated and exchange rates, dealer quotes for similar
qualify as cash flow hedges is recognised instruments and use of comparable arm’s
in other comprehensive income. The length transactions.
ineffective portion of changes in the fair
value of the derivative is recognised in the iii) Level 3: The fair value of financial
Statement of Profit and Loss. instruments that are measured on the basis
of entity specific valuations using inputs
Gains or losses accumulated in equity are that are not based on observable market
reclassified to the Statement of Profit and Loss

Notes
data (unobservable inputs). specified minimum rates of return. Such

contributions and shortfalls are recognised
(i) Inventories including Agricultural Produce as an expense in the year incurred.
Produce growing on Bearer plant is Biological
asset and are fair valued based on the Post retirement defined benefits including
gratuity, pension and medical benefits (for
biological transformation, except where on
qualifying executives/whole time directors)
initial recognition quoted market prices are
as provided by the Group are determined
not available and alternate fair value measures
through independent actuarial valuation,
are clearly unreliable in which case biological
at year end and charge recognised in the
asset is measured at cost less any accumulated
Statement of Profit and Loss. Interest costs
depreciation and impairment loss.
on employee benefit schemes have been
Tea, Coffee, Pepper and minor crops are classified within finance cost. For schemes,
designated as agricultural produce as per Ind AS where funds have been set up, annual
41 and are measured at their fair value less cost contributions determined as payable in the
to sell at the point of harvest. Any changes in fair actuarial valuation report are contributed.
value are recognised in the Statement of Profit Re-measurements as a result of experience
and Loss in the year in which these arise upon adjustments and changes in actuarial
harvest. The fair valuation so arrived at becomes assumptions are recognised in other
the cost of Inventory under Ind AS-2. comprehensive income. Such accumulated
re-measurement balances are never
Raw materials, work in progress, traded and
reclassified into the Statement of Profit and
finished goods are stated at the lower of cost Loss subsequently. The Group recognises
and net realisable value, net realisable value in the Statement of Profit and Loss, gains
represents the estimated selling price less or losses on curtailment or settlement of
all estimated cost of completion and selling a defined benefit plan as and when the
expenses. Stores and spares are carried at cost. curtailment or settlement occurs.
Provision is made for obsolete, slow-moving and
defective stocks, where necessary. ii) Other employee benefits:
Other employee benefits are accounted for
(j) Employee Benefits
on accrual basis. Liabilities for compensated
The Group operates various post-employment absences are determined based on
schemes, including both defined benefit and independent actuarial valuation at year end
defined contribution plans and post-employment and charge is recognised in the Statement of
medical plans. Short term employee benefits are Profit and Loss.
recognized on an undiscounted basis whereas
Long term employee benefits are recognized on (k) Provisions, contingent liabilities and contingent
a discounted basis. assets
Provisions are recognised when the Group has
i) Post retirement employee benefits:
a present obligation (legal or constructive) as
Contribution to post retirement defined a result of a past event, it is probable that an
benefit and contribution schemes like outflow of economic benefits will be required to
Provident Fund (PF) and Superannuation settle the obligation, and a reliable estimate can
Schemes and other such schemes are be made of the amount of the obligation.
accounted for on accrual basis by the Group.
With regard to PF contribution made by The amount recognized as a provision is the
the Group to a Self-Administered Trust, best estimate of the consideration required to
the Group is generally liable for annual settle the present obligation at the end of the
reporting period, taking into account the risks
contributions and for any shortfall in the
and uncertainties surrounding the obligation.
fund assets based on the government

Notes
These estimates are reviewed at each reporting extent that it is probable that taxable
date and adjusted to reflect the current best profit will be available against which the
estimates. If the effect of the time value of deductible temporary differences, and the
money is material, provisions are discounted. carry forward of unused tax credits and
The discount rate used to determine the present unused tax losses can be utilised.
value is a pre-tax rate that reflects current market
assessments of the time value of money and the The tax rates and tax laws used to compute
risks specific to the liability. The increase in the the tax are those that are enacted or
provision due to the passage of time is recognised substantively enacted at the reporting date.
as interest expense. Current and Deferred Tax are recognised
Contingent liabilities exist when there is a possible in the Statement of Profit and Loss except
obligation arising from past events, the existence to items recognised directly in Other
of which will be confirmed only by the occurrence Comprehensive Income or equity in which
or non-occurrence of one or more uncertain case the deferred tax is recognised in
future events not wholly within the control of the Other Comprehensive Income and equity
Group, or a present obligation that arises from respectively.
past events where it is either not probable that
an outflow of resources will be required or the (m) Foreign currency and translations
amount cannot be reliably estimated. Contingent i) Functional and presentation currency
liabilities are appropriately disclosed unless the Items included in the consolidated financial
possibility of an outflow of resources embodying statements of the Group’s subsidiaries
economic benefits is remote. are measured using the currency of the
A contingent asset is a possible asset arising primary economic environment in which
from past events, the existence of which will each entity operates (“functional currency”).
be confirmed only by the occurrence or non- The consolidated financial statements are
occurrence of one or more uncertain future presented in Indian Rupees (INR), which
events not wholly within the control of the is the functional currency of the Holding
Group. Contingent assets are not recognised till Company.
the realisation of the income is virtually certain.
However, the same are disclosed in the financial ii) Foreign currency transactions and balances
statements where an inflow of economic benefit Transactions in foreign currencies are
is possible. recorded at the exchange rate that
approximates the prevalent exchange rate
(l) Income Tax
on the transaction date. Monetary assets and
i) Current Income Tax liabilities in foreign currencies are translated
Current Income Tax is measured at the at the year-end rate. Any resultant exchange
amount expected to be paid to the tax differences are taken to the Statement of
authorities in accordance with local laws Profit and Loss, except
of various jurisdiction where the Group
operates. a)
when deferred, in Other
Comprehensive Income as qualifying
ii) Deferred Tax cash flow hedges; and
Deferred tax is provided using the Balance b)
exchange difference arising from
Sheet approach on temporary differences translation of external commercial
between the tax bases of assets and liabilities borrowing is capitalized in terms of
and their carrying amounts for financial para D13AA of Ind AS 101.
reporting purposes at the reporting date.
Non-monetary assets and liabilities
Deferred tax assets are recognised to the denominated in a foreign currency and

Notes
measured at historical cost are translated at tax. Transaction price is recognised based
the exchange rate prevalent at the date of on the price specified in the contract, net of
transaction. the estimated sales incentives/ discounts.
Accumulated experience is used to estimate
iii)
Group entities
and provide for the discounts/ right of
The results and financial position of all return, using the expected value method.
the Group entities (none of which has the
currency of a hyper-inflationary economy) ii) Interest and dividend income
that have a functional currency different Interest income is recognised using the
from the presentation currency of the Group effective interest method. When a loan and
are translated into the presentation currency receivable is impaired, the Group reduces
as follows: the carrying amount to its recoverable
- assets and liabilities for each Balance amount, being the estimated future cash
Sheet presented are translated at the flow discounted at the original effective
closing rate at the date of that Balance interest rate of the instrument and continues
Sheet; unwinding the discount as interest income.
Interest income on impaired loan and
-
income and expenses for each receivables is recognised using the original
Statement of Profit and Loss are effective interest rate.
translated at monthly exchange rates
and Dividend income is recognised when the
right to receive payment is established.
- all resulting exchange differences are
Income from investments are accounted on
recognized in other comprehensive
an accrual basis.
income.
On disposal of a foreign operation, the (o)
Government Grant
associated exchange differences are Government grants including any non-monetary
reclassified to the Statement of Profit and grants are recognised where there is reasonable
Loss, as part of the gain or loss on disposal. assurance that the grant will be received and all
Goodwill and fair value adjustments arising attached conditions will be complied with.
on the acquisition of a foreign entity are Government grants are recognised in the
treated as assets and liabilities of the foreign Statement of Profit and Loss on a systematic basis
entity and translated at the closing rate. over the periods in which the related costs, for
Exchange differences arising are recognised which the grants are intended to compensate,
in other comprehensive income are recognised as expenses.
(n)
Revenue Recognition Government grants related to property, plant
(i) Revenue from contracts with customers and equipment are presented at fair value and
Revenue from contract with customers is grants are recognised as deferred income.
recognised when the Company satisfies
(p)
Leases
performance obligation by transferring
As a lessee
promised goods and services to the
customer. Performance obligations are Lease of assets, where the Group, as a lessee, has
satisfied at the point of time when the substantially assumed all the risks and rewards of
customer obtains controls of the asset. ownership are recognised as Leases for all leases
above 12 months, unless the underlying asset is
Revenue is measured based on transaction of low value. Assets classified are capitalised and
price, which is the fair value of the depreciated as per Group’s policy on Property,
consideration received or receivable, stated Plant and Equipment. The corresponding lease
net of discounts, returns and value added rental obligations, net of finance charges, are

Notes
included in borrowings or other financial liabilities in which the Group’s Chief Operating Decision
as appropriate. Each lease payment is allocated Maker (‘CODM’) decides about resource allocation
between the liability and finance cost. The finance and reviews performance.
cost is charged to the Statement of Profit and Loss
over the lease period so as to produce a constant Segment results that are reported to the CODM
periodic rate of interest on the remaining balance include items directly attributable to a segment
of the liability for each year. as well as those that can be allocated on a
reasonable basis. Segment capital expenditure
As a lessor is the total cost incurred during the period to
Lease income from leases where the Group acquire property and equipment and intangible
is a lessor is recognised in the Statement of assets other than goodwill.
Profit and Loss on a straight- line basis over the (u) Cash and cash equivalents:
lease term unless the receipts are structured to
Cash and cash equivalents for the purpose
increase in line with expected general inflation
of presentation in the statement of cash
to compensate for the expected inflationary cost
flows comprises of cash at bank and in hand,
increases.
bank overdraft and short term highly liquid
(q)
Borrowing Costs investments/bank deposits with an original
maturity of three months or less that are readily
Borrowing costs consist of interest, ancillary and
other costs that the Group incurs in connection convertible to known amounts of cash and are
with the borrowing of funds and interest relating subject to an insignificant risk of changes in value.
to other financial liabilities. Borrowing costs (v)
Offsetting instruments
also include exchange differences to the extent
Financial assets and liabilities are offset and the
regarded as an adjustment to the borrowing costs.
net amount reported in the Balance Sheet when
Borrowing costs directly attributable to the there is a legally enforceable right to offset the
acquisition, construction or production of an recognised amounts and there is an intention to
asset that necessarily takes a substantial period settle on a net basis or realise the asset and settle
of time to get ready for its intended use or sale the liability simultaneously. The legally enforceable
are capitalised as part of the cost of the asset. All right must not be contingent on future events
other borrowing costs are expensed in the period and must be enforceable in the normal course of
in which these occur. business and in the event of default, insolvency or
bankruptcy of the Group or the counterparty.
(r) Exceptional Items
Exceptional items are disclosed separately in the (w) Events after the reporting period
financial statements where it is necessary to do so Adjusting events are events that provide further
to provide further understanding of the financial evidence of conditions that existed at the end of
performance of the Group. These are material the reporting period. The financial statements are
items of income or expense that have to be adjusted for such events before authorisation for
shown separately due to the significance of their issue.
nature or amount.
Non-adjusting events are events that are indicative
(s) Earnings per share of conditions that arose after the end of the
The Group presents basic and diluted earnings per reporting period. Non-adjusting events after the
share data for its equity shares. Basic and diluted reporting date are not accounted, but disclosed.
earnings per share is calculated by dividing the
2.3
K ey accounting judgement, estimates and
profit or loss attributable to owners of the equity
shares of the Holding Company by the weighted assumptions
average number of equity shares outstanding The preparation of the consolidated financial
during the year. statements required Group Management to exercise
judgment and to make estimates and assumptions.
(t) Segment Reporting The Group’s Management has considered the possible
Segments are identified based on the manner effects, if any, that may result from the pandemic

Notes
relating to COVID-19 on the carrying amounts of its iv. Goodwill and Intangibles
assets. In developing the assumptions and estimates
relating to the uncertainties as at the Balance Sheet The Group records all intangible assets acquired
date in relation to the recoverable amounts of these as part of a business combination at fair value.
assets, the Group’s Management has considered the Goodwill is assigned an indefinite useful life
global economic conditions prevailing as at the date whilst intangible assets are assigned an indefinite
of approval of these financial statements and has used
internal and external sources of information to the or finite useful life. Goodwill and intangible assets
extent determined by it. The actual outcome of these assigned an indefinite useful life are as a minimum
assumptions and estimates may vary in future due to subject to annual tests of impairment in line with
the impact of the pandemic. the accounting policy.
The areas involving critical estimates or judgements are:
v. Valuation of Agricultural Produce
i. Depreciation and amortisation Produce growing on Bearer plants are Biological
Depreciation and amortisation are based on Assets and are ‘fair valued’ based on biological
management estimates of the future useful lives of
transformations. As Coffee and Pepper
the property, plant and equipment and intangible
assets. Estimates may change due to technological undergo biological transformations, the same
developments, competition, changes in market are ‘fair valued’ only when the growth can be
conditions and other factors and may result in measured reliably. As at the Balance Sheet date,
changes in the estimated useful life and in the
the Management has determined that it can
depreciation and amortisation charges.
reliably measure the biological transformations
ii. Employee Benefits of its growing produce and such growing
The present value of the defined benefit produce and agricultural produce (comprising
obligations depends on a number of factors that
are determined on an actuarial basis using various growing produce and produce at harvest) have
assumptions. The assumptions used in determining been measured at ‘fair values’ based on the
the net cost/(income) includes the discount rate, Management’s estimates of expected produce
wage escalation and employee attrition. Any and grade of produce considering the assessment
changes in these assumptions will impact the
of the biological transformations observed at
carrying amount of obligations. The discount rate
is based on the prevailing market yields of Indian the year end and assumption of factors such as
Government securities as at the Balance Sheet date weather patterns, crop health until harvest and
for the estimated term of the obligations. crop characteristics, etc., which are susceptible
iii. Fair valuation to variations. ‘Fair values’ have been assessed at
All financial instruments are required to be fair market prices at the reporting date and adjusted
valued as at the Balance Sheet date, as provided for estimates of costs to be incurred from the
in Ind AS 109 and Ind AS 113. Being a critical
reporting date until harvest. Considering the
estimate, judgement is exercised to determine
the carrying values. The fair value of financial susceptibility of the estimates to variations,
instruments that are unlisted and not traded these estimates and assumptions are reviewed
in an active market is determined at fair values periodically / at every reporting date until harvest
assessed based on recent transactions entered
and revisions to the ‘fair values’ carried out on a
into with third parties, based on valuation done
by external appraisers etc., as applicable. cumulative basis. Such variations are considered
as change in estimates and are presented as part
Fair valuations of agricultural produce are derived
based on the market rates published by the of Changes in inventories of Finished Goods, Work
industrial body for various grades. in Progress, Stock-in-trade and Biological Assets.

Note No. 1 (a): Property, Plant and Equipment
200
₹ Lakh
Land and Land and Sanitary Installations Machinery & Equipment Vehicles Plants Property, Work in Plants in Capital
Development Development Installations Fixtures Plant and
Equipment
Progress Progress Work in
Progress
Notes
Gross Carrying 7242.78 829.99 18151.74 1727.64 2152.35 77733.89 996.83 904.75 386.93 1081.16 1521.03 112729.10 1461.30 4633.25 6094.55
Value as at
April 1, 2020
Additions - - 272.31 25.89 79.52 2489.86 106.76 100.84 69.57 88.79 1058.11 4291.65 (1138.77) (286.36) (1425.13)
Disposals (9.09) - - (9.39) (10.66) (667.68) (17.22) (115.29) (8.63) (143.99) - (981.95)
Transfers / - (321.57) - - (2240.46) (35.63) (34.17) (8.92) (0.23) - (2640.98) - - -
Adjustments

Gross Carrying 7233.69 829.99 18102.48 1744.14 2221.21 77315.61 1050.74 856.13 438.95 1025.73 2579.14 113397.82 322.53 4346.89 4669.42
Value as at
April 1, 2021
Additions (Refer - - 660.28 32.61 101.09 1754.86 28.74 63.54 93.47 - 786.52 3521.11 2630.31 92.79 2723.10
Note (b))
Disposals - - (237.55) (13.03) (51.38) (1831.78) (3.84) (4.87) (247.06) (256.09) - (2645.60)
Transfers / 335.86 - - 2368.12 65.50 23.85 4.66 0.24 - 2798.23 - - -
Adjustments
Gross Carrying 7233.69 829.99 18861.07 1763.72 2270.92 79606.81 1141.14 938.65 290.02 769.88 3365.66 117071.55 2952.84 4439.68 7392.52
Value as at
March 31, 2022
Land and Land and Sanitary Installations Equipment & Equipment Vehicles Plants Property, Work in Plants in Capital
Development Development Installations Fixtures Plant and Progress Progress Work in
Equipment Progress
Accumulated - - 4061.13 208.62 484.92 15758.12 453.12 490.44 205.80 232.93 66.62 21961.70 - - -
Depreciation as
at April 1, 2020
Depreciation - - 980.18 54.69 125.37 4608.33 59.44 132.11 64.32 111.51 75.60 6211.55
expenses
Deductions/ - - (231.57) (8.86) (8.23) (1235.40) (40.35) (138.39) (16.74) (59.81) - (1739.35)
Adjustments
Accumulated - - 4809.74 254.45 602.06 19131.05 472.21 484.16 253.38 284.63 142.22 26433.90 - - -
Depreciation as
at April 1, 2021
Depreciation - - 668.85 55.67 119.01 4804.72 62.79 126.87 98.89 93.78 95.59 6126.17
expenses
Deductions/ - - (150.45) (7.17) (39.45) (780.20) 23.84 14.29 (242.35) (102.74) - (1284.23)
Adjustments
Accumulated - - 5328.14 302.95 681.62 23155.57 558.84 625.32 109.92 275.67 237.81 31275.84 - - -
Depreciation as
at March 31, 2022
Net Carrying Freehold Leasehold Buildings Water and Electrical Plant & Furniture Computers Office Motor Bearer Total Capital Bearer Total
Value Land and Land and Sanitary Installations Equipment & Equipment Vehicles Plants Property, Work in Plants in Capital
Development Development Installations Fixtures Plant and Progress Progress Work in
Equipment Progress
Net Carrying 7242.78 829.99 14090.61 1519.02 1667.43 61975.77 543.71 414.31 181.13 848.23 1454.41 90767.39 1461.30 4633.25 6094.55 Notes
Value as at
April 1, 2020
Net Carrying 7233.69 829.99 13292.74 1489.69 1619.15 58184.56 578.53 371.97 185.57 741.10 2436.92 86963.92 322.53 4346.89 4669.42
Value as at
April 1, 2021
Net Carrying 7233.69 829.99 13532.93 1460.77 1589.30 56451.23 582.30 313.33 180.10 494.21 3127.85 85795.71 2952.84 4439.68 7392.52
Value as at
March 31, 2022
(a) The following assets are jointly owned / held with the Holding Company
Freehold Land and Development ₹ 103.78 Lakh (Previous Year - ₹ 103.78 Lakh)
Buildings ₹ 56.78 Lakh (Previous Year - ₹ 56.78 Lakh)
Water and Sanitary Installations ₹ 8.15 Lakh (Previous Year - ₹ 8.15 Lakh)
Electrical installations ₹ 22.07 Lakh (Previous Year - ₹ 22.07 Lakh)
(b) Additions to Bearer Plants represent capitalisation of Coffee, Pepper and Tea plants which have attained maturity during the year.
(c ) The Group has not revalued its Property, Plant and Equipment during the current reporting period.
(d) The Holding Company does not hold any Benami Property and does not have any proceedings initiated or pending for holding benami
property under the Benami Transactions (Prohibitions) Act, 1988 (45 of 1988).
Ageing of Capital Work-in-progress
₹ Lakh
Amounts in Capital Work in Progress for a period of
As at March 31, 2022 2909.39 - - 43.45 2952.84

As at March 31, 2021 277.53 - - 45.00 322.53
₹ Lakh
Strategic Report
Amounts in Bearer Plants in Progress for a period of

Bearer Plants in Progress
As at March 31, 2022 281.79 303.47 1091.46 2762.96 4439.68
As at March 31, 2021 164.48 743.14 1381.83 2057.44 4346.89
Statutory Reports
For projects overdue

₹ Lakh
To be completed in
Agglo Coffee Chicory Expansion Project (Project ACE) 1407.09 - - - 1407.09
Goods Lift Project 1.92 - - - 1.92
Aroma Recovery System Feed Heating PHE 2.70 - - - 2.70

42” CTC Machine 66.69 - - - 66.69
1
42” Singlet Machine 16.26 - - - 16.26

2
24” Minirator Machine 11.26 - - - 11.26

3
As at March 31 2022 1505.92 - - - 1505.92
201
Notes
Note No. 1 (b): Right-of-Use Assets

₹ Lakh
Particulars Freehold Buildings Office Motor Total
Land and Equipment Vehicles
Development
Gross Carrying Value as at April 1, 2020 8867.84 1954.07 27.99 26.48 10876.38
Additions -
Disposals (189.91) (447.96) (0.94) (0.89) (639.70)
Transfers / Adjustments (109.70) - - - (109.70)
Gross Carrying Value as at April 1, 2021 8568.23 1506.11 27.05 25.59 10126.98
Additions - 62.73 - 114.65 177.38
Disposals - - - - -
Transfers / Adjustments 314.45 51.70 0.99 0.94 368.08
Gross Carrying Value as at March 31, 2022 8882.68 1620.54 28.04 141.18 10672.44
Particulars Freehold Buildings Office Motor Total

Development
Accumulated Depreciation as at April 1, 2020 218.08 490.38 11.35 9.08 728.89
Depreciation expenses 203.36 233.84 10.58 8.47 456.25
Deductions / Adjustments - - - - -
Accumulated Depreciation as at April 1, 2021 421.44 724.22 21.93 17.55 1185.14
Depreciation expenses 131.02 338.11 4.41 22.70 496.24
Deductions / Adjustments 102.15 45.75 0.94 22.10 170.94
Accumulated Depreciation as at March 31, 2022 654.61 1108.08 27.28 62.35 1852.32
Net Carrying Value Freehold Buildings Office Motor Total

Development
Net Carrying Value as at April 1, 2020 8649.76 1463.69 16.64 17.40 10147.49
Net Carrying Value as at April 1, 2021 8146.79 781.89 5.12 8.04 8941.84
Net Carrying Value as at March 31, 2022 8228.07 512.46 0.76 78.83 8820.12
The Holding Company has not revalued its Right-of-Use Assets during the current reporting period.

Notes
Note No. 2: Investment Property

₹ Lakh
Particulars Land Buildings Total
Additions - - -
Disposal - (1797.08) (1797.08)
Additions / Transfers - - -
Disposal - (1748.11) (1748.11)
Disposal - (198.52) (198.52)
Depreciation 60.88 60.88
Disposal - (223.61) (223.61)
Accumulated Depreciation as at March 31, 2022 - 227.39 227.39
The amount recognised in the Consolidated Statement of Profit and Loss for investment property:
₹ Lakh
Rental Income 242.02 381.07
Direct Operating Expenses 51.25 59.74
Profit from investment property before depreciation 190.77 321.33
Depreciation for the period 60.88 88.73
Profit from investment property 129.89 232.60
(a) As at March 31, 2022, the fair value of Land was at ₹ 12000 Lakh (PY ₹ 9614 Lakh).
(b) As at March 31, 2022, the fair value of Building was at ₹ 1570 Lakh (PY ₹ 1597 Lakh). The valuation factors in the rates prevailing at
the time of disposal of a part of the Investment Property during the year.
(c ) The fair value of land included in investment property is based on the valuation by a registered valuer as defined under Rule 2 of
Companies (Registered Valuers and Valuation) Rules, 2017.
Operating Lease
The Holding Company has leased out part of its investment property for minimum period upto three years.
Minimum lease receipts under Non-cancellable Operating Lease:
₹ Lakh
Within one year 127.76 247.72
Later than one year and not later than three years 261.11 543.95

Notes
Note No. 3: Goodwill and Other Intangible Assets

₹ Lakh
Particulars Goodwill Brands / Capitalised Total
Trademarks Software
Gross Carrying Value as at April 1, 2020 132058.60 21315.27 3887.27 25202.54
Additions - - 286.32 286.32
Deductions / Adjustments (4676.11) (1022.04) (152.41) (1174.45)
Gross Carrying Value as at April 1, 2021 127382.49 20293.23 4021.18 24314.41
Additions - - 146.67 146.67
Deductions / Adjustments 4910.00 1073.16 (1,287.77) (214.61)
Gross Carrying Value as at March 31, 2022 132292.49 21366.39 2880.08 24246.47
Accumulated Depreciation as at April 1, 2020 1068.20 7595.72 3396.30 10992.02
Amortisation - 1188.93 198.41 1387.34
Deductions / Adjustments (252.44) (577.98) (145.11) (723.09)
Accumulated Depreciation as at April 1, 2021 815.76 8206.67 3449.60 11656.27
Amortisation - 1186.46 225.84 1412.30
Deductions / Adjustments 265.08 655.73 (1298.97) (643.24)
Accumulated Depreciation as at March 31, 2022 1080.84 10048.86 2376.47 12425.33
Net Carrying Value as at April 1, 2020 130990.40 13719.55 490.97 14210.52
Net Carrying Value as at April 1, 2021 126566.73 12086.56 571.58 12658.14
Net Carrying Value as at March 31, 2022 131211.65 11317.53 503.61 11821.14
Management reviews the carrying value of goodwill annually to determine whether there has been any impairment. This involves
making an assessment of the value of goodwill and comparing it to the carrying value. If the assessed value is lower than the carrying
value, then an impairment charge is recognised to reduce the carrying value to this amount.
Value in use i.e., the enterprise value is calculated using cash flow projections over a period of 5 years, with amounts based on medium
term strategic plans approved by the Board. Any major variations to strategic plan, based on experience are incorporated in the
calculations. Cash flows beyond the 5 year period are extrapolated using a long term growth rate.
Key assumptions in the budgets and plans include future revenue volume / price growth rates, associated future levels of marketing
support, cost-base of manufacture and supply and directly associated overheads. These assumptions are based on historical trends
and future market expectations and the markets and geographies in which the enterprise operates.
Other key assumptions applied in determining value in use are
(a) long term growth rate – Cash flows beyond the five-year period are extrapolated using the estimated long-term growth rate
applicable for the geographies, with reference to historical economic growth rates. The growth rate assumed for the current
financial year was 2.0%.
(b) discount rate – The discount rate is based on a Weighted Average Cost of Capital (WACC) for comparable companies operating
in similar markets and geographies as the Group as the base discount rate. The pre-tax discount rate assumed for the current
financial year was 12.75%.
The Group has performed sensitivity analysis around the base assumptions and has concluded that no reasonable possible changes in
key assumptions would cause the recoverable amount to be less than the carrying value.
The Holding Company has not revalued its Intangible Assets during the current reporting period.

Notes
Note No. 4: Investments

₹ Lakh
Particulars Face 2022 2021
Value Number Current Non Number Current Non
of Each of Current of Current
(₹) Shares Shares
A. Investments Carried at Fair Value through OCI
Quoted Investments
Investment in Quoted Equity Instruments
Tata Chemicals Limited 10.00 150 - 1.46 150 - 1.13
AGGREGATE AMOUNT OF QUOTED INVESTMENTS - 1.46 - 1.13
Total cost of Quoted Investments ₹0.39 Lakh (PY ₹0.39 Lakh) and
market value ₹1.46 Lakh (PY ₹1.13 Lakh)
Investments in Unquoted Equity Instruments
Southern Scribe Instruments Private Limited * 100.00 7280 - 7.28 7280 - 7.28
Armstrong Power Private Limited * 100.00 1100 - 1.10 - - -
K.T.V. Oil Mills Private Limited * 100.00 1450 - 1.44 1450 - 1.44
Mytrah Vayu (Manjira) Private Limited * 10.00 - - - 162500 - 16.25
Coorg Orange Growers Co-Operative Society Ltd. ** 100.00 4 - - 4 - -
Tata Coffee Co-operative Stores Limited ** 5.00 20 - - 20 - -
Coorg Cardamom Co-operative Marketing Society Limited ** 100.00 1 - - 1 - -
AGGREGATE AMOUNT OF UNQUOTED INVESTMENTS - 9.82 - 24.97
B Investments designated as Fair Value Through Profit and
Loss
Investments in Mutual Funds 4093.73 - 3538.82 -
Cost of Investments in Mutual Funds ₹4087.05 Lakh (PY ₹3525.33
Lakh)
Tata Overnight fund - Direct plan - Growth - 184707.270 Units;
Cost of Investment ₹2067.98 Lakh; Fair Value ₹2071.38 Lakh
Axis Overnight Fund Direct Growth - 179950.036 Units;
Cost of Investment ₹2019.07 Lakh; Fair Value ₹2022.35 Lakh
4093.73 11.28 3538.82 26.10
* Relating to Power Purchase Agreement entered by the Holding Company
** Represents amount less than ₹1000
Note No. 5: Loans

₹ Lakh
Current Non- Total Current Non- Total
Current Current
Unsecured Considered Good
Employee Loans and Advances 177.76 20.98 198.74 210.20 16.45 226.65
Inter Corporate Deposits to Related Parties - - - 7000.00 - 7000.00
177.76 20.98 198.74 7210.20 16.45 7226.65
No Loans or Advances are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013)
either severally or jointly with any other person.

Notes
Note No. 6: Other Financial Assets

₹ Lakh
Current Current
Security Deposits
Secured, considered good - 22.94 22.94 - 22.32 22.32
Less: Allowance for bad and doubtful deposits
- 22.94 22.94 - 22.32 22.32
Other Deposits
Secured, considered good - - - - - -
Doubtful 38.00 3.84 41.84 38.00 3.84 41.84
Less: Provision for Doubtful Deposits (38.00) (3.84) (41.84) (38.00) (3.84) (41.84)
853.51 - 853.51 540.35 - 540.35
Interest Accrued (including from Related Parties ₹ Nil) 117.07 - 117.07 234.09 - 234.09
(PY: ₹132.46 Lakh)
Export Incentives Receivable 214.31 - 214.31 875.94 - 875.94
Other Financial Assets 5258.81 13.89 5272.70 2633.13 43.10 2676.23
6443.70 36.83 6480.53 4283.51 65.42 4348.93
₹ Lakh
Movements in Provision for Financial Assets

As at April 1, 2020 41.84
As at April 1, 2021 41.84
As at March 31, 2022 41.84
Note No. 7: Other Non-current and Current assets

₹ Lakh
Current Current
Capital Advances - 238.95 238.95 - 337.93 337.93
Advances to suppliers
Secured, considered good 319.96 - 319.96 28.17 - 28.17
Doubtful 66.09 2.99 69.08 66.09 2.99 69.08
Less: Provision for Doubtful Advances (66.09) (2.99) (69.08) (66.09) (2.99) (69.08)
Other Receivables 1307.60 176.84 1484.44 1136.91 429.10 1566.01
Advances to Related Parties 1108.90 - 1108.90 1125.69 - 1125.69
Prepayments 1075.11 370.62 1445.73 864.95 500.16 1365.11
4365.95 786.41 5152.36 3389.69 1267.19 4656.88

Notes
Movements in Provision for Other Non-current and Current Assets

₹ Lakh
As at April 1, 2020 69.08
As at April 1, 2021 69.08
As at March 31, 2022 69.08
Note No. 8: Inventories including Biological Assets

₹ Lakh
Stores and spares 3453.68 2526.28
Raw materials 11095.82 7539.90
Raw materials in Transit 2564.22 1998.62
Work-in-progress, including Growing Produce of ₹ 1041.94 Lakh (PY ₹ 706.03 Lakh) 1629.62 941.91
Stock-in-trade 9686.34 6286.19
57409.47 42813.82
Note No. 9: Trade Receivables

₹ Lakh

Current Current
Trade Receivables
Secured, considered good 1369.39 2930.79
Unsecured, considered good 26171.84 17245.45
Doubtful 31.78 31.78
Less: Provision for Doubtful Receivables (31.78) (31.78)
Trade Receivables from Related Parties 1779.36 1145.08
29320.59 21321.32
The credit worthiness of Trade Receivables and the credit terms set are determined on a case to case basis. Considering that adequate
insurance cover has been taken on export debts and based on the other internal and external sources of information as determined by
the Management, the Company has concluded that there is a low probability of default on Trade Receivables.
The Fair Values of Trade Receivables are not considered to be significantly different from their carrying values, given their generally short
period to maturity, with impairment reviews considered on an individual basis rather than when these become overdue.
₹ Lakh
Movements in Provision for impairment of Trade Receivables

As at April 1, 2020 31.78
Additions / Adjustments -
As at April 1, 2021 31.78
Additions / Adjustments -
As at March 31, 2022 31.78

Notes
Trade Receivables Ageing Schedule

₹ Lakh
Outstanding for following periods from due date of payment
Particulars Less than 6 6 Months to 1 to 2 Years 2 to 3 Years More than 3 Total
months* 1 Year Years
Undisputed- considered good 28100.15 529.04 640.08 15.10 36.22 29320.59
Total 28100.15 529.04 640.08 15.10 36.22 29320.59
Undisputed- considered good 20689.54 498.10 58.93 19.47 55.28 21321.32
Total 20689.54 498.10 58.93 19.47 55.28 21321.32
Note No. 10: Cash and Cash Equivalents/Bank Balances

₹ Lakh

Unrestricted Balances with banks
in current accounts 8211.35 19084.79
in deposit accounts with original maturity less than 3 months - 4879.77
Cash in hand 3.87 3.65
Remittances in Transit 0.02 0.03
Cash and Cash Equivalents 8215.24 23968.24
Unrestricted Balances with banks in deposit accounts with original maturity more than 3 months but less than 9650.39 4255.33
12 months
Unpaid Dividend / Debenture / Debenture Interest 227.14 238.79
Other Bank Balances 9877.53 4494.12
Note No. 11: Non-current Assets Held for Sale

₹ Lakh
Particulars Timber
As at April 1, 2020 80.41
Additions 88.16
Disposals (43.24)
As at April 1, 2021 125.33
Additions 60.29
Disposals (136.42)
As at March 31, 2022 49.20

Notes
Note No. 12 (a): Equity Share Capital

₹ Lakh

No. of shares No. of shares
Authorised:
Issued, Subscribed and Fully Paid:
186770370 (PY 186770370) Equity shares of ₹ 1 each with voting rights 1867.70 1867.70
1867.70 1867.70
A. Details of Shares held by Parent Company [Promoter Group]:

Name of Shareholder No. of shares No. of shares
% of Holding 57.48% 57.48%
B. Details of Shareholders holding more than 5% shares:

Name of Shareholder No. of shares No. of shares
% of Holding 57.48% 57.48%
C. Reconciliation of number of shares:

Number of shares as at 1st April 186770370 186770370
Add: Shares issued during the year - -
Number of shares as at 31st March 186770370 186770370
D. Dividends Paid:
Dividends Paid (` in Lakh) 2801.55 2801.55
Dividend Per Share (`) 1.50 1.50
E. Rights, Preferences and restrictions of Equity Shares:
The Company has one class of equity shares having a par value of ₹ 1 each. Each shareholder is eligible for one vote per share held.
The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General
Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company in
proportion to their shareholding.
The Board of Directors, in its meeting on April 26, 2022, have recommended a dividend of ₹ 2.00 per share (face value of ₹ 1/- each)
for the year ended March 31, 2022. The proposal is subject to the approval of shareholders at the ensuing Annual General Meeting
and has not been included as a liability in these financial statements.

Notes
Note No. 12 (b): Other Equity

₹ Lakh
Capital Redemption Reserve 10.41 10.41
Securities Premium 14424.27 14424.27
General Reserves I 23827.79 23827.79
General Reserves II 14189.66 12592.58
Amalgamation Reserves 832.53 832.53
Retained Earnings 88478.15 78103.68
Equity instruments through Other Comprehensive Income 1.07 0.74
Effective portion of Cash Flow Hedges 354.16 (556.01)
Foreign Currency Translation Reserve 8724.28 6747.28
Actuarial Gain / (Loss) (879.76) (885.27)
149962.56 135098.00
Note No. 13: Nature and purpose of Reserves

Capital Redemption Reserve
A statutory reserve created to the extent of sum equal to the nominal value of the share capital extinguished on buyback of Company’s
own shares pursuant to Section 69 of the Companies Act, 2013.
Securities Premium
Securities Premium has been created consequent to issue of shares at premium. These reserves can be utilised in accordance with
Section 52 of the Companies Act, 2013.
Amalgamation Reserves
Amalgamation Reserves pertains to the scheme of amalgamation of the Company with erstwhile Asian Coffee Limited, Coffee Lands
Limited and SIFCO Limited.
Note No. 14 (a): Borrowings

₹ Lakh
Current Current
Secured Borrowings:
Term Loans
From Banks:
Loans from Related Party - 26336.16 26336.16 - - -
External Commercial Borrowings - 24187.18 24187.18 - 28754.20 28754.20
Current maturities of long-term debt 9417.56 - 9417.56 48603.92 - 48,603.92
Unsecured Borrowings: -
Loans from Related Party 22736.25 - 22736.25 - 21931.38 21931.38
From Banks:
Working Capital Facilities 19158.48 - 19158.48 16425.07 - 16425.07
51312.29 50523.34 101835.63 65028.99 50685.58 115714.57

Notes
1. The long term borrowing outstanding is secured by way of mortgage over certain assets, interest being charged at Libor plus
margin. The agreement required compliances with various financial covenants.
2. External Commercial Borrowings are secured by mortgage of Plant and Machinery of the wholly owned Subsidiary Company.
The loan is repayable on half-yearly instalments starting from Financial Year 2020-21. Interest being charged at LIBOR plus margin.
As per the terms of the External Commercial Borrowing, the overseas subsidiary is required to comply with various covenants.
The wholly owned Subsidiary Company has not defaulted on repayment of principal/interest during the year.
3. The Working Capital facilities of the Holding Company are repayable on demand and are re-drawable subsequently after
repayment.
4. The Holding Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in accordance
with the guidelines on wilful defaulters issued by the Reserve Bank of India.
5. The group has not defaulted in repayment of borrowings and payment of interest during the year.
Note No. 14 (b): Lease Liabilities

₹ Lakh
Particulars Mar-22 Mar-21

Current Current
Lease Liabilities 608.40 8485.20 9093.60 537.34 8654.66 9192.00
608.40 8485.20 9093.60 537.34 8654.66 9192.00
Rental expense recorded for short-term leases, under Ind AS 116, during the year ended March 31, 2022 is ₹ 42.98 Lakh (PY ₹ 63.34 Lakh)
2022 2021
₹ Lakh ₹ Lakh
Short term leases 42.98 63.34
Total 42.98 63.34
Note No. 15: Other Financial Liabilities

₹ Lakh
Current Current
Deposits received - 94.67 94.67 - 225.57 225.57
Unpaid Dividends / Debenture / Debenture Interest 227.14 - 227.14 238.79 - 238.79
Interest Accrued but not due - - - 2.92 - 2.92
Interest payable to Related Parties 15.16 - 15.16 - - -
Employee Benefits 2537.79 - 2537.79 2456.39 - 2456.39
Other Payables 14759.37 61.48 14820.85 13871.74 177.99 14049.73
17539.46 156.15 17695.61 16569.84 403.56 16973.40
Note No.16: Provisions

₹ Lakh
Current Current
Provision for employee benefits 272.44 3578.22 3850.66 279.44 3938.67 4218.11
272.44 3578.22 3850.66 279.44 3938.67 4218.11

Notes
Details of Movement in Provisions:

₹ Lakh
Current Non- Total

Current
Particulars Employee Employee Employee
Benefits Benefits Benefits
Balance at April 1, 2020 340.48 4188.49 4528.97
Balance at April 1, 2021 279.44 3938.67 4218.11
Balance at March 31, 2022 272.44 3578.22 3850.66
Note No. 17: Tax Provision

a) Tax charge in the Statement of Profit and Loss:
₹ Lakh

Current tax
Current year 7626.26 6579.38
Deferred tax
Deferred Tax expenses for the year 147.63 698.61
Income Tax expense for the year 7773.89 7277.99
b) Reconciliation of Effective Tax Rate

₹ Lakh

Profit before Tax 31113.97 28432.77
Tax using Domestic tax rate (Current year: 25.168% and Previous year: 25.168%) 7830.76 7155.96
Tax effect of
Income tax at different rate 465.04 645.08
Non-deductible tax expenses 105.49 189.70
Tax-exempt income (627.40) (712.75)
7773.89 7277.99
c) Current / Non-current Tax Assets / Liabilities

₹ Lakh

Current Tax Liabilities 340.79 172.37
Non-current Tax Assets 1288.13 1425.57
947.34 1253.20

Notes
d) The analysis of Deferred Tax Assets and Deferred Tax Liabilities are as follows:
₹ Lakh

Deferred Tax Assets 1433.53 2154.65
Deferred Tax Liabilities 16077.76 16072.16
Deferred Tax Liabilities (Net) 14644.23 13917.51
e) The movement in deferred income tax (assets) and liabilities during the year are as follows:
₹ Lakh
Particulars Depreciation Other Provision Employee Other Total

Liabilities for Benefits Assets
Doubtful
Debts
As at April 1, 2020 2160.15 13656.71 (15.39) (463.20) (1967.51) 13370.15
- to Statement of Profit and Loss (38.24) (33.19) - 132.09 637.95 698.61
- to Other Comprehensive Income - 251.52 - - (28.58) 222.94
- to Others - (360.59) - - (14.20) (374.99)
As at April 1, 2021 2121.91 13514.45 (15.39) (331.11) (1372.34) 13917.51
- to Statement of Profit and Loss (58.13) - - 209.73 (3.97) 147.63
- to Other Comprehensive Income - 49.54 - - (228.59) (179.05)
- to Others - 86.67 - - 671.46 758.13
As at March 31, 2022 2063.78 13650.66 (15.39) (121.38) (933.44) 14644.23
Note No. 18 (a): Trade Payables to Micro and Small Enterprises

₹ Lakh

Current Current
Total outstanding dues of Micro and Small Enterprises * 69.51 243.69
69.51 243.69
* includes amounts due beyond the applicable period of ₹ 0.82 Lakh (₹ Nil Lakh) and interest ₹0.03 Lakh (₹ Nil)

Notes
Note No. 18 (b): Trade Payables to Others

₹ Lakh

Current Current
Total outstanding dues of creditors other than Micro and Small Enterprises 15585.90 11119.59
Trade payables to Related Parties 1462.36 1537.50
17048.26 12657.09
(i) Principal amount, due remaining unpaid to Micro and Small Enterprises 69.51 243.69
(ii) Interest due, remaining unpaid to Micro and Small Enterprises - -
(iii) Interest due and payable to Micro and Small Enterprises - -
The information regarding Micro and Small Enterprises have been determined to the extent such parties have been identified on the
basis of information available with the Holding Company.
Trade Payables Ageing Schedule

₹ Lakh
Particulars Outstanding for following periods from due date of payment
Less than 1 Year* 1 to 2 Years 2 to 3 Years More than 3 Total
Years
MSME 69.51 - - - 69.51
Others 16946.42 0.16 - 101.68 17048.26
Total 17015.93 0.16 - 101.68 17117.77
MSME 243.69 - - - 243.69
Others 12534.09 65.00 - 58.00 12657.09
Total 12777.78 65.00 - 58.00 12900.78
* Includes amounts not yet due for payment and unbilled dues
Note No. 19: Other Current Liabilities

₹ Lakh

Current Current
Statutory Liabilities 623.55 1029.55
Advances from Customers 1112.38 943.06
1735.93 1972.61

Notes
Note No. 20: Revenue from Operations

₹ Lakh
Revenue from contracts with customers
Sale of Goods 167080.88 160332.32
Sale of Traded Goods 66335.63 62502.29
Rendering of Services 942.94 536.35
Revenue from contracts with customers 234359.45 223370.96
Sale of Scrap / waste 266.24 206.62
Export Incentives 439.42 1025.21
Royalty Income 487.33 376.31
Exchange Fluctuation (Net) 499.53 -
Miscellaneous Income 298.13 515.74
Other Operating Revenues 1990.65 2123.88
Revenue from Operations 236350.10 225494.84
Note No. 21: Other Income

₹ Lakh
Interest Income
On Advances and Deposits at amortised cost 551.89 711.27
Dividend Income
Dividend income from Other Non Current Investments at Fair Value through Other Comprehensive Income 0.01 0.02
Net Gain on sale of Current investments at Fair Value through Profit or Loss 129.92 211.72
(Loss) / Gain on investments carried at Fair Value through Profit or Loss 20.54 (68.92)
Royalty Income 22.23 -
Rental income from Investment property 242.02 381.07
Operating Lease Rental income 8.91 16.74
Profit on sale of Property, Plant and Equipment/Investment Property (net) - 1300.48
2572.60 3379.32
Note No. 22 (a): Cost of materials consumed

₹ Lakh
Coffee 74447.76 63090.86
Tea 517.43 617.77
Others 658.14 917.12
Packing Materials 11050.36 10688.03
86673.69 75313.78
Note No. 22 (b): Purchase of Traded Goods

₹ Lakh
Coffee 33118.96 32459.10
Others 3991.23 3561.49
37110.19 36020.59

Notes
Note No. 22 (c): Changes in Inventories of finished goods, work-in-progress, Stock-in-trade and Biological
Assets
₹ Lakh
Opening Inventories as at April 1
30749.02 31536.46
Closing Inventories as at March 31
40295.76 30749.02
(9546.74) 787.44
Note No. 23: Employee Benefits Expense

₹ Lakh

Salaries and wages, including bonus 32099.83 30674.90
Contribution to provident and other funds 2823.02 2519.23
Workmen and Staff Welfare 2103.24 2027.63
37026.09 35221.76
Note No. 24: Finance Costs

₹ Lakh

Interest expense
On Fixed Loans 2241.67 3159.87
On Working Capital Loans 1718.44 1444.90
Interest on Defined Benefit Plans 169.59 221.37
Interest on Leases 400.38 422.87
Bank Charges 117.94 108.54
4648.02 5357.55
Note No. 25: Other Expenses

₹ Lakh
Contract / Processing Charges 2987.72 2595.95
Consumption of Stores and Spare Parts 4117.80 3730.94
Power and Fuel 7976.76 6269.28
Repairs and Maintenance 2854.87 2945.68
Rent including Lease Rentals 42.98 63.34
Rates and Taxes 295.25 504.63
Advertisement and Sale Charges 4347.04 4905.63
Selling Expenses 4120.04 3552.20
Freight 9825.00 8792.08

Notes
₹ Lakh
Insurance 1070.56 834.21
Exchange Fluctuation (Net) - 281.97
Expenditure on Corporate Social Responsibility 174.72 129.75
Payment to Statutory Auditors [Refer Note No. 32] 114.00 100.00
Professional Charges 1818.50 1491.54
Miscellaneous Expenses 3382.52 2948.95
Loss on sale of Property, Plant and Equipment 47.92 -
43175.67 39146.14
Note No. 26: Exceptional Items

₹ Lakh
Expenses
Expenditure on Business Restructuring/Merger 626.32 315.89
(626.32) (315.89)
Note No. 27: Estimated amounts of Contracts remaining to be executed:

₹ Lakh

Estimated amounts of contracts remaining to be executed on capital account and not provided for 304.78 1036.33
Note No. 28: Contingent Liabilities:

₹ Lakh
Claims under adjudication not acknowledged as debts:
i) Demands raised by Income Tax, Excise & Sales Tax Authorities 2317.27 1176.99
ii) Labour disputes under adjudication 65.15 94.00
iii) Claims by Customers / Suppliers 183.13 170.86
iv) For Bank & other Guarantees 31.55 734.33
Note No. 29: Litigations

The Holding Company’s overseas subsidiary in US along with several other coffee companies that roast, package, market and/or sell
coffee in the State of California are defendants in public interest litigation filed by an organisation named Council of Education and
Research on Toxics (CERT). The litigation contends that since coffee contains the chemical acrylamide, warning have to be included
for coffee sold in that state pursuant to California state law. Acrylamide is not added to coffee but forms in trace amounts as part of
a chemical reaction that occurs in coffee beans when they are roasted. The subsidiary is part of a Joint Defense Group (JDG) that is
arguing the case on behalf of several leading coffee companies as defendants. During 2018 the California Office of Environmental Health
Hazard Assessment (OEHHA) proposed a new regulation clarifying that cancer warnings are not required for coffee under Proposition
65 list and subsequently in June 2019, the proposed regulation was adopted by the Office of Administrative law which became law on
October 1, 2019. The JDG filed a motion for summary judgment in January, 2020 which was granted in August, 2020. As a result, the
litigation was dismissed and final judgment was entered on October 6, 2020. Defense filed appeals brief in August, 2021 and Plaintiff
filed a reply to the Defense’s appeal brief in November 2021. We expect Court to schedule oral arguments in the near term, then take
the matter under submission and issue an opinion. At this stage of the proceedings, the outcome and potential liability, if any, to the
subsidiary on account of their sales in the State of California is not determinable at present till the receipt of judgment, if any, which is
appealable in higher courts.

Notes
Note No. 30:

The Board of Directors of the Holding Company in their meeting dated March 29, 2022 have approved the Composite Scheme of
Arrangement amongst Tata Consumer Products Limited (“TCPL”}, the Company and TCPL Beverages & Foods Limited (“TBFL”} (the
Company, TBFL and TCPL are collectively referred to as the “Companies”} and their respective shareholders and creditors under Sections
230 to 232 and other applicable provisions of the Companies Act, 2013 and the rules and / or regulations made thereunder (including
any statutory modification(s} or re-enactment(s} thereof for the time being in force} (such scheme referred to as the “Scheme”}. The
Scheme inter alia provides for the following: as a first step, the demerger of the Demerged Undertaking (as defined in the Scheme)
comprising of Plantation Business (as defined in the Scheme) of the Company into TBFL and in consideration, the consequent issuance
of equity shares by TCPL (as the holding company of TBFL) to all the shareholders of the Company (other than TCPL) in accordance
with the Share Entitlement Ratio (as defined in the Scheme), pursuant to the provisions of Section 2(19AA) read with Section 2(41A) and
other relevant provisions of the IT Act (“Demerger”); as a second step, followed immediately by the amalgamation of the Company
(comprising the Remaining Business of the Company (as defined in the Scheme)) with TCPL and in consideration, the consequent
issuance of equity shares by TCPL to all the shareholders of the Company (other than TCPL) in accordance with the Share Exchange Ratio
(as defined in the Scheme) pursuant to the provisions of Section 2(1B) and other relevant provisions of the IT Act (as defined hereinafter)
(“Amalgamation”); and various other matters consequential or otherwise integrally connected therewith. The Scheme is subject to
inter-alia receipt of the approval of the requisite majority of the public shareholders and creditors (if applicable) of the Companies, the
Stock Exchanges, the Securities and Exchange Board of India, National Company Law Tribunals (benches at Kolkata and Bengaluru) and
other regulatory authorities, as may be applicable. Pending receipt of necessary approvals, no effect of the Scheme has been given in
the financial statements for the year ended March 31, 2022.
Note No. 31: R & D Expenditure

₹ Lakh
Capital Expenditure 2.53 0.10
Revenue Expenditure 88.63 76.25
Total 91.16 76.35
Total R&D Expenditure as % of Revenue 0.04% 0.03%
Note No. 32: Payment to Statutory Auditors

₹ Lakh
Audit Fees 60.00 40.00
Tax Audit Fees 15.00 12.00
Quarterly Audit Fees 25.00 18.00
Other Services 12.50 25.00
Reimbursement of expenses 1.50 5.00
Total 114.00 100.00
Note No. 33: Leases

₹ Lakh
Minimum lease payments: 2022 2021
Within 1 Year 634.67 598.06
1 to 2 Years 705.01 1034.29
2 to 5 Years 1239.62 1431.89
Total 2579.30 3064.24

Notes
Note No. 34: Basic and Diluted Earnings per share

Profit for the year attributable to owners of the Holding Company (₹ Lakh) 14773.10 13364.04
Weighted average number of equity shares 186770370 186770370
Nominal Value per equity share (₹) 1.00 1.00
Earnings per share from continuing operations - Basic and Diluted (₹) 7.91 7.16
Note No. 35: Financial Instruments-Accounting Classification and Fair Values

A. Financial Instruments
A. Accounting Classification and Fair Values
₹ Lakh

Amortised
Cost
Financial Assets:
Unquoted Equity Investments Non-current - 9.82 - 9.82 - 9.82 - 9.82
Investment in Mutual Funds Current 4093.73 - 4093.73 4093.73 - - 4093.73
Cash and Cash Equivalents & Current - - 18092.77 18092.77 - - - -
Other Bank Balances
Loans Current - - 177.76 177.76 - - - -
₹ Lakh

Amortised
Cost
Borrowings Non-current - - 50523.34 50523.34 - - - -
Other Financial Liabilities Current - 451.12 17088.34 17539.46 - 451.12 - 451.12
Total Financial Liabilities - 451.12 145291.49 145742.61 - 451.12 - 451.12

Notes
₹ Lakh
Amortised
Cost
Financial Assets:
Unquoted Equity Investments Non-current - 24.97 - 24.97 - 24.97 - 24.97
Investment in Mutual Funds Current 3538.82 - 3538.82 3538.82 - - 3538.82
Cash and Cash Equivalents & Current - - 28462.36 28462.36 - - - -
Other Bank Balances
Loans Current - - 7210.20 7210.20 - - - -
₹ Lakh

Amortised
Cost
Borrowings Non-current - - 50685.58 50685.58 - - - -
Other Financial Liabilities Current 144.76 2026.60 14398.48 16569.84 144.76 2026.60 - 2171.36
Total Financial Liabilities 144.76 2026.60 152609.39 154780.75 144.76 2026.60 - 2171.36
B. Measurement of Fair Values

The basis of measurement with respect to each class of financial assets and financial liabilities are disclosed in Note 2.2 (h) of the
Significant Accounting Policies.
Note No. 36: Financial Risk Management

Risk Management framework
The Board of Directors of the respective Companies have the overall responsibility for the establishment and oversight of the their
Risk Management framework. The respective boards have established the Risk Management Committee, which are responsible for
developing and monitoring the risk management policies. The committees reports regularly to the Board of Directors on their activities.
The Group’s risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits
and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect

Notes
changes in market conditions and the Group’s activities. The Group, through its training and management standards and procedures,
aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.
The Audit Committee oversees how management monitors compliance with the Group’s risk management policies and procedures, and
reviews the adequacy of the risk management framework in relation to the risks faced by the Group. The Audit Committee is assisted
in its oversight role by Internal Audit function, which regularly reviews risk management controls and procedures, the results of which
are reported to the Audit Committee.
The Group has exposure to Credit, Liquidity and Market risks arising from financial instruments:
A. Credit Risk
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual
obligations, and arises principally from the Group’s receivables from customers and investments in debt securities.
Trade and other receivables:

The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management
also considers the factors that may influence the credit risk of its customer base, including the default risk of the country in which
customers operate.
The Risk Management Committee has established a credit policy under which each new customer is analysed individually for
Creditworthiness before the Group’s standard payment and delivery terms and conditions are offered. Credit limits are established
for each customer and reviewed periodically.
At the end of the reporting period, there are no significant concentrations of credit risk. The carrying amount reflected above
represents the maximum exposure to credit risk.
Cash and cash equivalents

The Group held cash and cash equivalents of ₹ 8215.24 Lakh at March 31, 2022 (March 31, 2021: ₹ 23868.24 Lakh).
B. LIQUIDITY RISKS:
Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities
that are settled by delivering cash or another financial asset. The Group’s approach to managing liquidity is to ensure, as far as
possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions,
without incurring unacceptable losses or risking damage to the Group’s reputation. The following are the remaining contractual
maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest
payments and exclude the impact of netting agreements.
Maturities of Financial Liabilities:

₹ Lakh
Within 1 Due from Due from After 5 Total Within 1 Due from Due from After 5 Total
year 1 to 2 2 to 5 years year 1 to 2 2 to 5 years
years years years years
Borrowings 70926.19 5926.02 11904.34 13079.08 101835.63 85898.12 5716.47 13749.80 10350.18 115714.57
Leases 608.40 792.95 1239.62 6452.63 9093.60 537.34 927.57 1380.32 6346.77 9192.00
Trade Payables 17117.77 - - - 17117.77 12900.78 - - - 12900.78
Other Financial 17539.46 156.15 - - 17695.61 16569.84 323.18 80.38 - 16973.40
Liabilities
Total 106191.82 6875.12 13143.96 19531.71 145742.61 115906.08 6967.22 15210.50 16696.95 154780.75

Notes
C. MARKET RISKS:
Market risk is the risk that changes in market prices such as commodity prices risk, foreign exchange rates and interest rates which
will affect the Group’s financial position. Market risk is attributable to all market risk sensitive financial instruments including
foreign currency receivables and payables.
The Plantation Industry is dependent on nature, making it susceptible to climate vagaries. The major weather factors that
influence coffee yield are rainfall, temperature, light intensity and relative humidity. To mitigate the risk of drought conditions,
the Group has invested significantly on augmentation of irrigation capacities rain water harvesting to improve the water table
and enhance the water storage capacity. With regard to Plantation Operations, borer infestation and Tea Mosquito Bug [TMB]
infestation are continuous threats being faced. The Holding Company, in addition to regular tracing and chemical control, has
taken rigorous initiatives to curb pest incidence. It is also working closely with various R&D cells and Government agencies for
developing effective measures in this regard.
Commodity Price Risk
The Group’s exposure to Market risk for commodity prices can result in changes to realisation for its Plantation products and Cost
of Production for its value added products. The risk associated is actively monitored for mitigation options. The other mitigants
includes strict implementation of Board mandated Commodity policy and also the natural hedge arising on export of Plantation
produce vis a vis import of Coffee for value added segment. The overseas subsidiary to manage the risks associated with commodity
prices enters into Coffee Futures and Option Contracts.
Coffee Futures/Options:
The Holding Company uses Coffee futures/options contracts to reduce its price risk associated with forecasted sales of Coffee
beans. These coffee futures/options have been designated as Cash Flow Hedges.
USD in Mm ₹ lakh USD in Mm ₹ lakh
Coffee Futures 55 1.83 10.25 47 0.74 28.26
Coffee Options - 15 1.36 (15.47)
Written Calls
Coffee Options - 30 1.59 48.93
Purchased Puts
The overseas subsidiary uses Coffee future contract to reduce its price risk associated with forecasted purchases of Coffee beans.
Throughout the year, the overseas subsidiary enters into coffee futures based on market price and anticipated production
requirements. The subsidiary determines the level and timing of coffee futures contract settlements to meet those production
requirements throughout the year. These coffee futures have been designated as Cash Flow Hedges.
Option Contracts:
The overseas subsidiary had written put contracts which require the subsidiary to purchase coffee if the spot price falls below the
strike price and the option is exercised by the holder. The subsidiary had also open written call contracts which require the subsidiary
to sell coffee if the spot price rises above the contract price and the option is exercised by the holder. For these obligations, the
overseas subsidiary receives a premium. The overseas subsidiary also trades in bought put and call options for which the subsidiary
pays a premium. The bought puts give the subsidiary the right to sell Coffee if the price falls below the contract strike price. The
bought calls give the subsidiary the right to buy coffee if the spot price rises above the contract strike price.
2022 2021
Type of Futures / Options No. of Amount Fair Value No. of Amount Fair Value
Commodities Contracts Hedged Contracts Hedged
USD in Mm ₹ Lakh USD in Mm ₹ Lakh
Coffee Options - Written Puts - - - 259 11.07 (220.06)
Coffee Options - Purchased Puts - - - 190 (7.84) 89.93
Coffee Options - Written Calls - - - 475 31.35 (57.03)
Coffee Options - Purchased Calls - - - 480 (30.92) 42.40
Coffee Futures 322 26.68 261.90 441 18.92 1514.84

Notes
Currency Risk
The Group is exposed to currency risk on account of its borrowings, receivables and other payables in foreign currency. The
functional currency of the Group is Indian Rupee. The Group uses forward exchange contracts to hedge its currency risk, mostly
with a maturity of less than one year from the reporting date. The Group does not use derivative financial instruments for trading
or speculative purposes. Following is the derivative financial instruments to hedge the foreign exchange rate risk as of March 31,
2022:
2022 2021
Type of Derivatives Currency Pair No. of Amount Fair Value No. of Amount Fair Value
Mm ₹ Lakh Mm ₹ Lakh
Forward exchange contracts EUR INR 6 0.74 15.72
The carrying amount of the Group’s foreign currency denominated Monetary Assets and Liabilities as at the end of reporting
period are as below:
Amount in Mm
Currency Monetary Assets Monetary Liabilities
2022 2021 2022 2021
USD 7.97 8.63 2.02 1.30
EUR 0.32 0.21 - -
GBP 0.26 - - -
The following table summarises approximate gain/(loss) on the Group’s Profit before tax and pre-tax equity on account of
appreciation/depreciation of underlying foreign currency amounts stated in the above table.
` Lakh
Particulars Effect on Profit before tax Effect on Pre-tax equity
2022 2021 2022 2021
Average USD rate 74.15 74.28 74.15 74.28
Average EUR rate 86.45 86.91 86.45 86.91
Average GBP rate 101.57 - 101.57 -
5% appreciation of USD INR 248 281 (700) (716)
5% depreciation of USD INR (248) (281) 700 716
Interest Rate Risk

Interest rate risk is the risk that the Fair Value or future cash flows of a financial instrument will fluctuate because of changes in
market interest rates. In order to optimize the Group’s position with regard to interest income and interest expenses and to manage
the interest rate risk, treasury performs a comprehensive corporate interest rate risk management by balancing the proportion of
fixed rate and floating rate financial instruments in its total portfolio.
2022 2021
Type of Derivatives Currency No. of Amount Fair Value Amount Fair Value
Contracts Hedged Hedged
USD Mm ₹ Lakh USD Mm ₹ Lakh
Interest Rate Swap - ECB USD 3 22.33 (451.12) 27.01 (1532.38)
Interest Rate Swap - Senior Debt USD - - - 29.60 (494.22)

Notes
Exposure to Interest Rate Risk

Group’s interest rate risk arises from borrowings and finance lease obligations. Borrowings issued at fixed rates and finance lease
obligations exposes to Fair Value interest rate risk. The interest rate profile of the Group’s interest-bearing financial instruments as
reported to the management of the Group is as follows.
The following Table demonstrates the sensitivity on the Group’s profit before tax, to a reasonably possible change in interest
rates on that portion of loans and borrowings affected, after the impact of Hedge Accounting, with all other variables held
constant:
₹ Lakh
Particulars Effect on Profit Before Tax
2022 2021
50 basis Points increase (468.54) (378.90)
50 basis Points decrease 468.54 378.90
Capital Management
The Group’s objective for capital management is to maximize shareholder wealth, safeguard business continuity and support the
growth of the Group. The Group determines the capital management requirement based on annual operating plans and long term
and other strategic investment plans. The funding requirements are met through equity, borrowings and operating cash flows.
The Group’s Debt to equity ratio at March 31, 2022 is as below:
₹ Lakh
Total Debt [including Lease Liabilities] 110929.23 124906.57
Total Equity 202555.27 182001.41
Debt Equity Ratio 0.55:1 0.69:1
Note No. 37: Employee Benefits Obligations

Post Retirement Employee Benefits:
a) Defined Contributions:
An amount of ` 1997.02 Lakh (previous year: ` 1749.66 Lakh) has been charged to the Statement of Profit and Loss towards defined
contribution schemes.
(b) Defined Benefits:

The post retirement Defined Benefit Plans are limited to the Holding Company and the disclosures on the same are covered in
Note No. 39 of the Standalone Financial Statements.
Note No. 38: Fair Value Measurement of Agricultural Produce

The Fair Value Measurement disclosures are limited to the Holding Company and disclosures of the same are covered in Note No. 40
of the Standalone Financial Statements.
Note No. 39: Segment Reporting

Ind AS 108 establishes standards for the way that public business enterprises report information about operating segments and related
disclosures about products, services, geographic areas and major customers. Based on the ‘Management’ approach as defined under
Ind AS108, the Chief Operating Decision Maker (CODM) evaluates the Group’s performance on a yearical basis and allocates resources
based on an analysis of the performance of various Business and Geographical Segments. The Group’s CODM is the Managing Director
and Chief Executive Officer. The accounting principles used in the preparation of the financial statements are consistently applied to
record revenue and expenditure in individual segments and are as set out in the Significant Accounting Policies.

Notes
Primary Segment ₹ Lakh

PLANTATIONS VALUE ADDED UNALLOCATED TOTAL
PRODUCTS
2022 2021 2022 2021 2022 2021 2022 2021
I. Segment Revenue
External Sales 37309.74 36779.60 203835.19 191188.90 916.00 2603.94 242060.93 230572.44
Less: Inter-Segment Sales 3138.23 1698.28 - - - - 3138.23 1698.28
TOTAL REVENUE 34171.51 35081.32 203835.19 191188.90 916.00 2603.94 238922.70 228874.16
II. Segment Results 2427.20 2834.99 34558.21 29879.67 - - 36985.41 32714.66
Interest Expense - - - - - - (4648.02) (5357.55)
Unallocated & Exceptional Income - - - - - - (1223.42) 1075.66
/ (Expense)
PROFIT BEFORE TAX - - - - - - 31113.97 28432.77
III. Income Taxes - - - - - - 7773.89 7277.99
IV. Net Profit - - - - - - 23340.08 21154.78
V. Segment Assets 57144.00 53282.84 294766.54 280253.99 16958.95 23525.93 368869.49 357062.76
VI. Segment Liabilities 6287.00 6199.76 144399.20 153348.33 15628.02 15513.26 166314.22 175061.35
VII. Additions to Non-current 2156.75 2156.75 4078.55 1071.90 129.34 129.34 6364.64 3357.99
Assets
VIII. Depreciation and 994.82 971.83 6956.20 7123.43 144.47 182.98 8095.49 8278.24
Amortisation
IX. Material Non-Cash Items - - - - - - - -
other than Depreciation and
Amortisation
Notes :
a) Business Segments : The internal business segmentation and the activities encompassed therein are as follows :
i) Plantations: Includes cultivation, manufacture and sale of Coffee and Other Plantation Crops.
ii) Value Added Products: Includes Production and Sale of Roasted & Ground and Instant Coffee Products
iii) Unallocated income includes income from investments & exceptional items and expenditure includes expenses incurred on
common services at the Corporate level
b) The Segment-wise revenue, results, assets and liabilities figures relate to the respective amounts directly identifiable to each of the
segments.
Note No. 39 (a): Geographical Segment Reporting

Geographical revenues are segregated based on the locations of the customers who are invoiced or in relation to which the revenues
is otherwise recognised.
₹ Lakh
Secondary (Geographical) Segments
CIS Countries * 16376.31 14393.01
Rest of the World * 60999.73 51019.20
USA 129771.03 129412.07
India 31775.63 34049.88
Total 238922.70 228874.16
* includes Direct Exports and exports through third parties and through export houses

Additional Information pertaining to the Holding Company and its Subsidiaries
226
₹ Lakh
Name of the Entity For the Year ended March 31, 2022 For the Year ended March 31, 2021
Net Assets Share in Profit or Loss Share of Other Share of Total Net Assets Share in Profit or Loss Share of Other Share of Total
Comprehensive Income Comprehensive Income Comprehensive Income Comprehensive Income Notes
As a % of Amount As a % of Amount As a % of Amount As a % of Amount As a % of Amount As a % of Amount As a % of Amount As a % of Amount
Consolidated (₹ Lakh) Consolidated (₹ Lakh) Consolidated (₹ Lakh) Consolidated (₹ Lakh) Consolidated (₹ Lakh) Consolidated (₹ Lakh) Consolidated (₹ Lakh) Consolidated (₹ Lakh)
Net Assets Profit or Profit or Profit or Net Assets Profit or Profit or Profit or
Loss Loss Loss Loss Loss Loss
Holding Company
Tata Coffee Limited 76.70% 116448.45 38.59% 5700.23 (2.36%) (69.51) 31.77% 5630.72 79.68% 109135.28 42.41% 5667.76 328.98% 1231.12 50.22% 6898.88
Subsidiaries

Foreign
Consolidated Coffee Inc. 66.92% 101619.67 116.17% 17162.61 106.62% 3144.75 114.59% 20307.36 65.87% 90222.05 116.79% 15607.23 (667.41%) (2497.57) 95.43% 13109.96
Tata Coffee Vietnam Company 6.04% 9163.80 3.23% 477.24 48.96% 1444.26 10.84% 1921.50 3.76% 5155.51 (0.90%) (120.51) 105.28% 393.97 1.99% 273.46
Limited
Less : Non controlling Interest (33.41%) (50725.00) (57.99%) (8566.98) (53.22%) (1569.75) (57.20% (10136.73) (32.87%) (45035.71) (58.30%) (7790.74) 333.15% 1246.70 (47.64%) (6544.04)
Less : Consolidation Elimination (16.25%) (24676.66) (16.44%) (22511.43)
TOTAL 100.00% 151830.26 100.00% 14773.10 100.00% 2949.75 100.00% 17722.85 100.00% 136965.70 100.00% 13364.04 100.00% 374.22 100.00% 13738.26
Note No. 40: Financial Ratios

Ratio Numerator Denominator 2022 2021 % Variance
Current Ratio Current Assets Current Liabilities 1.35 1.14 18
Debt - Equity Ratio Total Debt [including Lease Total Equity 0.55 0.69 20
Liabilities]
Debt Service Coverage Ratio^ Earnings available for Debt Debt Service 0.66 2.73 (76)*
Service
Return on Equity Ratio Profit After Tax Average Equity 12.14% 12.07% 1
Inventory Turnover Ratio Net Sales Average Inventory 4.66 5.28 (12)
Trade Receivables Turnover Revenue from Contracts with Average Accounts Receivables 9.26 9.79 (5)
Ratio Customers
Trade Payables Turnover Ratio Adjusted Expenses Average Trade Payables 10.48 10.66 (2)
Net Capital Turnover Ratio Revenue from Operation Average Working Capital 1.13 1.24 (9)
Net Profit Ratio Profit After Tax Revenue from Operations 9.88% 9.38% 5
Return on Capital Employed Earnings Before Interest and Tax Average Capital Employed 21.40% 19.97% 7
Return on Investment Income generated from Average Investments 4.20% 5.53% (24)
Investments
^Excluding Working Capital facilities which are re-drawable subsequently after repayment
*On repayment of borrowings during the year
Notes
Note No. 41: Other Disclosures

(a) Relationship with Struck off Companies - The Holding Company does not have any transactions or relationships with any
companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.
(b) There are no transactions for the Holding Company that have been surrendered or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961 which have not been recorded in the books of account.
(c) There are no charges or satisfaction of charges for the Holding Company yet to be registered with Registrar of Companies beyond
the statutory period.
Note No. 42 (a): Related Party Transactions

In accordance with Ind AS 24, the disclosures required are given below:
₹ Lakh
Sl. Nature of transaction Promoter Parent Company Key Management Fellow Subsidiaries/ Subsidiaries/JVs of Post Employment Total
Personnel JVs Promoter Benefit Plans
For the For the For the For the For the For the For the For the For the For the For the For the For the For the
year year year year year year year year year year year year year year
ended ended ended ended ended ended ended ended ended ended ended ended ended ended
March March March March March March March March March March March March March March
31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021 31, 2022 31, 2021
1 Sale of Goods - - 5092.78 4514.69 - - 2406.58 1578.53 70.58 - - - 7569.94 6093.22
2 Rendering of Services - - - - - - 78.70 88.69 40.32 31.89 - - 119.02 120.58
3 Purchase of Goods - - - 10.65 - - 8.18 - 3683.13 3221.47 - - 3691.31 3232.12
4 Directors’ Remuneration** - - - - 559.30 505.89 - - - - - - 559.30 505.89
5 Receiving of Services 330.93 320.67 103.96 323.78 - 2306.07 2494.29 552.86 546.67 - - 3293.82 3685.41
6 Reimbursement of expenses / - - (121.58) (124.89) - - - - - - - - (121.58) (124.89)
(income) - Net
7 Interest Payment - - - - - - 1467.55 1200.45 - - - - 1467.55 1200.45
8 Dividend Paid - - 4556.16 4529.63 - - 1479.93 1503.88 - - - - 6036.09 6033.51
9 Contribution to Post Retirement - - - - - - - - - - 742.12 715.03 742.12 715.03
Benefit Plans
10 Inter Corporate Deposits at the - - - - - - - - - 7000.00 - - - 7000.00
year end
11 Interest Accrued on Inter - - - - - - - - 104.07 263.60 - - 104.07 263.60
Corporate Loans
12 Interest Payable on Inter - - - - - - - - 15.16 - - - - -
Corporate Loans
13 Loan outstanding at the year - - - - - - 52861.79 21931.38 - - - 52861.79 21931.38
end - Tata Consumer Products UK
Group Limited
14 Outstanding at the year end
Credit 330.93 320.67 91.35 164.72 983.81 1035.98 71.80 16.14 - - 1477.89 1537.51
Debit - - 1216.42 688.79 562.07 456.29 1108.90 1258.15 - - 2887.39 2403.23
The above information is excluding taxes and duties except Outstanding Balances at the year end
** Includes contribution towards Provident Fund and Superannuation Fund

Notes
Names of related parties and description of relationship

1. Promoter Company Tata Sons Private Limited
2. Parent Company Tata Consumer Products Limited
3. Key Management Personnel Mr Chacko Purackal Thomas, Managing Director & CEO
Mr K Venkataramanan, Executive Director - Finance & CFO
4. Fellow Subsidiaries / JVs/Associates Tata Global Beverages Investments Limited
Tata Consumer Products UK Group Limited
Tata Consumer Products GB Limited
Good Earth Tea Inc.
Good Earth Corporation
Tetley USA Inc.
Kanan Devan Hills Plantations Company Private Limited
Amalgamated Plantations Private Limited
Tata Consumer Products US Holdings Inc.
Tata Global Beverages Services Limited
Tata Consumer Products Capital Limited
Tata Consumer Products Canada Inc.
Tata Starbucks Private Limited
Empirical Group LLC [upto March 31, 2021]
Tata Water LLC
Tea Pigs US LLC
Tata Consumer Products Polska Sp.zo.o
5. Subsidiaries / JVs of Promoter Company Tata Consultancy Services Limited
Tata Housing Development Company Limited
Tata International Limited
Tata Teleservices Limited
Tata Uganda Limited
Tata International Singapore Pte Limited
Tata Unistore Limited
Tata Communications Limited
Tata AIG General Insurance Company Limited
Tata AIA Life Insurance Company Limited
Tata Industries Limited
Tata International Vietnam Company Limited
Tata Digital Limited
6. Post Retirement Benefit Plans Tata Coffee Staff Provident Fund Trust
Tata Coffee Superannuation Scheme
Tata Coffee Employees Gratuity Fund

Notes
Note No. 42 (b): Details of Material Transactions with Related Parties

₹ Lakh
Sale of Goods
Parent Company
Tata Consumer Products Limited 5092.79 4514.69
Fellow Subsidiaries / JVs
Tata Starbucks Private Limited 2270.78 1451.92
Purchase of Goods
Subsidiaries / JVs of Promoter
Tata Uganda Limited 3476.60 2820.09
Receiving of Services
Tetley USA Inc. 1306.16 1045.86
Empirical Group LLC. 912.16
Good Earth Tea Inc. 679.77 528.87
Interest Payment
Tata Consumer Products UK Group Limited 1467.55 1200.45
For and on behalf of the Board of Directors

CHACKO PURACKAL THOMAS K. VENKATARAMANAN
Managing Director & CEO Executive Director - Finance & CFO
S. VENKATRAMAN N. ANANTHA MURTHY

Director Company Secretary
Place: Bengaluru

Statement of Crop particulars of Coffee (Arabica and Robusta Estates), Tea & Pepper
ARABICA ROBUSTA TEA PEPPER
Name of the Estate Bearing Bearing Bearing Mature Yield Per

YPH in YPH in YPH in
area in Crop MT area in Crop MT area in Crop MT Vines Crop MT Vine (in
Kgs Kgs Kgs
Hectares Hectares Hectares (Nos.) Kgs)
COFFEE:
KARNATAKA
Anandapur 15.00 11 731 356.70 603 1691 23244 40 1.72
Balmany 4.10 1 175 209.10 172 821 8213 22 2.68
Cannoncadoo 104.20 39 370 198.50 326 1644 17484 34 1.94
Cottabetta 6.56 2 317 387.43 493 1273 31897 89 2.79
Coovercolly 256.85 87 338 204.20 169 829 33503 59 1.76
Jumboor 369.90 170 459 0.00 0 0 25122 44 1.75
Margolly 189.76 79 417 285.04 528 1852 27186 43 1.58
Nullore 373.06 252 672 87.70 122 1391 47977 75 1.56
Pollibetta 12.30 4 345 291.56 419 1437 10776 24 2.23
Sunticoppa 231.60 87 374 0.00 0 0 20217 27 1.34
Woshully 17.25 5 267 415.05 451 1087 18997 44 2.32
Yemmigoondi 61.30 23 380 465.10 612 1317 18969 44 2.32
COORG 1641.88 759 461 2900.38 3896 1343 283585 545 1.92
Gubgul 3.60 2 472 125.95 149 1182 4500 15 3.33
Goorghully 164.57 88 534 233.05 400 1716 32776 41 1.25
Karadibetta 122.40 35 286 257.30 301 1170 24729 36 1.46
Merthikhan 78.86 50 628 25.25 31 1212 446 0.15 0.34
Mylemoney 309.33 115 373 78.90 116 1475 9174 8 0.87
Ubban 197.90 95 479 210.75 332 1575 21400 28 1.31
HASSAN 876.66 384 438 931.20 1329 1427 93025 128 1.38
2518.54 1143 453 3831.58 5225 1364 376610 673 1.79
Tamil Nadu
Valparai 422.49 66 156 233.64 282 1206 15367 7 0.46
TEA:
KARNATAKA
Merthikhan 40 65* 1623
Glenlorna 245 776 3168 6670 11 1.65
TAMIL NADU
Pachamalai 301 502 1670 830 1 1.20
Pannimade 416 612 1471 1961 1 0.51
Uralikal 430 683 1590 4445 7 1.57
Velonie 384 764 1991 4621 7 1.51
KERALA
Malakiparai 512 903 1765 4098 6 1.46
Grand Total 2941.03 1209 411 4065.22 5506 1354 2327 4305 1850 414602 713 1.72
Add : Tea manufactured out of bought leaf at Anamallais 486
Total made tea production during 2021-22 4791
* Made tea equivalent of Green Leaf sales

To,
M/s. TSR Consultants Private Limited
Unit: Tata Coffee Limited
C-101, 1st Floor, 247, Park
L.B.S. Marg, Vikhroli (West), Mumbai – 400083
Tel: +91-22-66568484
Extn: 411 / 412 / 413
Updation of Shareholder Information
I/ We request you to record the following information against our Folio No.:
General Information:
Folio No.:
Name of the first named Shareholder:
PAN: #
CIN/ Registration No.: #
(applicable to Corporate Shareholders)
Tel No. with STD Code:
Mobile No.:
Email Id:
#
Self attested copy of the document(s) enclosed
Bank Details:
IFSC: MICR:
(11 digit) (9 digit)
Bank A/c Type: Bank A/c No.: *
Name of the Bank:
Bank Branch Address:
* A blank cancelled cheque is enclosed to enable verification of bank details

I/ We hereby declare that the particulars given above are correct and complete. If the transaction is delayed because of incomplete or
incorrect information, I/ We would not hold the Company/ RTA responsible. I/ We undertake to inform any subsequent changes in the
above particulars as and when the changes take place. I/ We understand that, the above details shall be maintained by you till I/We hold
the securities under the above-mentioned Folio No./ beneficiary account.
Place:
Date:
Signature of Sole/ First holder

Notes

No. 57, Railway Parallel Road,
Kumara Park (W), Bengaluru – 560 020
Tel: (080) 2356 0695, 23561976/81
Fax: (080) 233 41843
E-mail : [email protected]
Website : www.tatacoffee.com

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May 26, 2022

1. The Dy. General Manager 2. The Secretary

For Tata Coffee Limited

Encl.: Annual Report FY 2021-22

1.National Securities Depository Ltd.

Pursuit of goodness: 06 Report on Corporate Governance 85 Balance Sheet 134

Relationships 34 Statement of Changes in Equity 186

Board of Directors 36 Cash Flow Statement 187

Prestigious acclaims 40 Notes on Accounts 189

A 100-year legacy of homegrown goodness

In this edition, we pay homage to the alliance of two S122 CRORE

It is a celebration of the sensory

2 Celebrating Goodness. Since 1922

Born of the Baba Bringing coffee in a beard Bested by the British

Annual Report 2021-22 3

An espresso obsession that became a phenomenon

4 Celebrating Goodness. Since 1922

Going back to Vietnam’s

Coffee must build on

India acquiring a new character of coffee

Annual Report 2021-22 5

A pursuit and a purpose

6 Celebrating Goodness. Since 1922

The birth of the Consolidated Coffee Estates Limited in 1922 heralded

The liberalisation of the Indian economy meant

Annual Report 2021-22 7

We are one of the largest integrated

The Company we are today

Instant Coffee Safety Customer focus

Tea Responsibility Innovation & Agility

Pepper People-centric Transparency

8 Celebrating Goodness. Since 1922

The circle of goodness

Key operational figures We approach the future with a gusto

Tradition and modernity

~10,000 HA ~2.6 lakh tonnes

Annual Report 2021-22 9

A century of spreading delight.

Green Bean Instant Coffee

10 Celebrating Goodness. Since 1922

Annual Report 2021-22 11

12 Celebrating Goodness. Since 1922

Coffee caught in crisis

Leading Indian coffee out of the woods

Translating love and trust into success

Annual Report 2021-22 13

Calibrating in sync with the

14 Celebrating Goodness. Since 1922

Pushing the boundaries of production

Practicing precision across

Annual Report 2021-22 15

Drawing on a remarkable legacy to

16 Celebrating Goodness. Since 1922

Annual Report 2021-22 17

Offerings that blend

18 Celebrating Goodness. Since 1922

*Averaged over the last 3 years

Annual Report 2021-22 19

• A1, A2 and A3 grades of