Tata Chemicals Ltd Share Price – NSE  /  BSE

Chemicals, Small Cap

However, revenue from operations grew 5.58% year on year to Rs 4,218 crore in the quarter ended 30 June 2023.

Consolidated profit before tax (from continuing operations) stood at Rs 747 crore in Q1 FY24, registering a de-growth of 6.27% from Rs 797 crore recorded in the same period last year.

EBITDA rose 2.76% to Rs 1,043 crore in the first quarter of FY24 as against Rs 1,015 crore reported in Q1 FY23. EBITDA margin was constant at 25% in Q1 FY24 as compared to the same period last year.

The company's revenue form Basic Chemistry Products was at Rs 3,386 crore (up 10.65% YoY) and that from Specialty Products stood at Rs 833 crore (down 10.81% YoY), during the period under review.

Rallis India, its subsidiary recorded consolidated revenues of Rs 782 crore for the quarter ended 30 June 2023, an decrease of 9% as compared to Rs 863 crore reported in the corresponding quarter of last year.

As on 30 June 2023, consolidated gross debt dropped to Rs 5,873 crore, as compared to Rs 6,296 crore as on 31 March 2023. Also, cash & cash equivalents stood at Rs 1,544 crore as on 30 June 2023 as against Rs 2,398 crore recorded in the same period a year ago.

R. Mukundan, managing director & CEO of Tata Chemicals, said, “The company has delivered a satisfactory performance during Q1 FY24 as compared to Q1 FY23 despite a challenging environment. The soda ash prices got adversely impacted as many customers delayed their purchasing decisions due to new supplies expected from Inner Mongolia, China. This was further impacted by slower growth in Chinese economy post-COVID and softening of industrial production in developed economies and this may persist in the near term.

The company had to adopt agile pricing to maximize volumes and ensure optimum utilization of capacity. We expect that the sustainability trend will continue to positively impact the demand for newer applications like solar glass and lithium in the medium to long term. Our focus is to ensure that we maintain our market share through customer engagement and continued agile pricing, and to ensure steady contribution margins with focus on costs”.

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. Tata Chemicals has world-class R&D facilities in Pune and Bangalore.

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Net profit of Tata Chemicals declined 9.68% to Rs 532.00 crore in the quarter ended June 2023 as against Rs 589.00 crore during the previous quarter ended June 2022. Sales rose 5.58% to Rs 4218.00 crore in the quarter ended June 2023 as against Rs 3995.00 crore during the previous quarter ended June 2022.

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Net profit of Tata Chemicals declined 13.91% to Rs 328.00 crore in the quarter ended June 2023 as against Rs 381.00 crore during the previous quarter ended June 2022. Sales declined 7.35% to Rs 1135.00 crore in the quarter ended June 2023 as against Rs 1225.00 crore during the previous quarter ended June 2022.

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Tata Chemicals will hold a meeting of the Board of Directors of the Company on 7 August 2023.

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