Tata Chemicals Ltd Share Price – NSE  / BSE

Chemicals, Small Cap

These listed, unsecured, rated, redeemable, taxable, non-cumulative, non-convertible debentures have a face value of Rs 1 lakh each, aggregating to Rs 1,700 crore, for a tenor of 3 years.

The NCDs have a fixed coupon rate of 7.81% and have been issued based on multiple yield allotment method. The NCDs will be listed on the Debt segment of National Stock Exchange of India (NSE).

Tata Chemicals is a leading supplier of choice to Glass, Detergent, Industrial and Chemical sectors. The company has a strong position in the crop protection business through its subsidiary company, Rallis India.

The chemical maker’s consolidated net profit from continuing operations declined 69.72% to Rs 175 crore in Q1 FY25 as compared to Rs 578 crore posted in Q1 FY24. The company’s revenue from operations fell 10.17% year-on-year (YoY) to Rs 3,789 crore for the quarter ended 30 June 2024.

The scrip rose 0.66% to Rs 1059.75 on the BSE.

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Tata Chemicals has allotted 170,000 Listed, Unsecured, Rated, Redeemable, Taxable, Non-Cumulative, Non-convertible NCDs, having face value Rs 1,00,000/- each, for cash, aggregating to Rs 1,700 crore, for a tenor of 3 years, to identified investors on private placement basis.

The NCDs have a fixed rate coupon of 7.81% and have been issued based on multiple yield allotment method. The NCDs will be listed on the Debt Segment of National Stock Exchange of India (NSE).

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The company’s revenue from operations fell 10.17% year-on-year (YoY) to Rs 3,789 crore for the quarter ended 30 June 2024.

Profit before tax stood at Rs 269 crore during the quarter, down 64.08% from Rs 749 crore posted in Q1 FY24.

During the quarter, EBITDA dropped 44.96% to Rs 574 crore as compared to Rs 1,043 crore posted in Q1 FY24. EBITDA margin reduced to 15% in Q1 FY25 as against 25% recorded in the corresponding quarter previous year.

On segmental front, revenue from basic chemistry products stood at Rs 2,972 crore (down 12.22% YoY ) while revenue from specialty products stood at Rs 819 crore, (down 1.68% YoY) in Q1 FY25.

The company’s consolidated gross debt as on 30 June 2024 stood at Rs 6,376 crore up by Rs 813 crore and net debt at Rs 4,789 crore up by Rs 626 crore, as compared to previous quarter. This rise in debt is attributed to higher working capital loans and the capitalization of leases.

R. Mukundan, MD & CEO of Tata Chemicals, said, “Overall demand for soda ash was stable during the quarter on account of robust demand for flat glass, container glass and solar glass globally, while Europe experienced muted demand. China demand continued to be stable. The company has delivered a satisfactory performance during Q1FY25 as compared to Q4FY24 on expected lines. The company’s overall sales volume remained stable as compared to the previous quarter, with marginal improvement in price sequentially on account of market factors.

Our focus is on customer engagement and agile response, while ensuring steady contribution margins with focus on costs. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts.”

Tata Chemicals is a leading supplier of choice to Glass, Detergent, Industrial and Chemical sectors. The company has a strong position in the crop protection business through its subsidiary company, Rallis India.

The scrip added 1.13% to Rs 1,063.50 on the BSE.

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Net profit of Tata Chemicals declined 71.80% to Rs 150.00 crore in the quarter ended June 2024 as against Rs 532.00 crore during the previous quarter ended June 2023. Sales declined 10.17% to Rs 3789.00 crore in the quarter ended June 2024 as against Rs 4218.00 crore during the previous quarter ended June 2023.

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