Monday, February 19, 2018

Tata Chemicals Limited (thetata-group “Company”) today declared its Consolidated Financial Results for the third quarter ended December 31st, 2017. The Company reported a Consolidated PAT of Rs. 759 Cr as against Rs. 264 Cr for the corresponding period Q3 FY16-17. Income from continuing operations for the quarter ended December 31st, 2017 on consolidated basis at Rs. 2,574 Cr and PAT from Continuing Operations was recorded at Rs. 545 Cr, up by 176%.

Standalone Q3 FY17-18

Ø  Indian Chemicals business delivered a robust performance with improved volumes and realisations across all product categories

Ø  Tata Salt posts robust volumes with growth back on track.

Ø  On a Net Debt basis, TCL is debt free with cash of Rs.1,189 Cr. Focus now moves from Deleveraging to Growth

Ø  Divestment of Urea business to Yara International completed on 12th January 2018

Ø  The Company has executed a BTA with IRC Agrochemicals Pvt Ltd for transfer of the Phosphatic Fertiliser business located at Haldia and the Trading business comprising of bulk and non-bulk fertilisers.

Consolidated Q3 FY17-18

Ø  North American operations continue to maintain steady performance backed by favourable production volumes and profitability.

Ø  One-off impacts at TCNA due to:

o   Actuarial gain on changes to certain Post Retiral Medical Plans; and

o   The repeal of Alternative Minimum Tax (AMT) in recent US tax legislation changes, allows recovery of previously unrecognized tax payments

Ø  European operations showed improved efficiencies across all business units. Lower sales of traded ash.

Ø  Magadi continued improvement in operational performance with higher volumes and improved realisations.

Ø  Rallis India registers stable performance despite market challenges

Ø  Consolidated net debt on 31st December 2017 was Rs. 4,128 Cr against Rs 5,573 Cr on 31st  March 2017

Business-wise Performance:

Consumer Business                                                                                    

Ø  Tata Sampann Multi Grain Khichdi mix launched in January

Ø  Tata Salt remains the market leader in national branded segment

Ø  The business continues to focus on growing volumes across categories

Industrial Chemicals

Ø  Global Chemicals business registered good volumes and profitability due to operational efficiencies

Ø  Detergent speckles –DetMate and Pharma grade Bicarb- MediKarb launched  in India

Specialty Chemicals

Ø  Agro Chemicals: Rallis reports stable performance. Digital platform-Dhrishti launched across India. Roll out planned for three crops – cotton, paddy and tomato in Rabi season

Ø  Nutraceuticals: project on schedule. Plant to be commissioned in Q4 FY 2019.

Ø  Rubber and Polymer Additives: project progressing as per plan.