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Tata Chemicals announces
Q3 2007 results
January 30 2007
Highlights 9M FY07
Stand-alone
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PAT at Rs 350 cr - up by 21 per cent over
9M FY06 |
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Revenues at Rs 3,188 cr - up by 15 per cent
over 9M FY06 |
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Basic EPS Rs 16.26 up by 21 per cent |
Consolidated (incl overseas subsidiaries)
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PAT at Rs 428 cr |
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Revenues at Rs 4,566 cr |
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Basic EPS: Rs 20.06 |
Highlights Q3 FY07
Standalone
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PAT at Rs 117 cr - up by 19 per cent over
Q3 FY06 |
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Revenues at Rs 1,307 cr - up by 4 per cent
over Q3 FY06 |
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Basic EPS Rs 5.43 up by 19 per cent |
Consolidated (incl overseas subsidiaries)
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PAT at Rs 156 cr |
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Revenues at Rs 1,780 cr |
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Basic EPS: Rs 7.27 |
Tata Chemicals revenues cross USD 1 billion for the
9 months FY07 |
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With its overseas acquisition of the Brunner
Mond Group, Tata Chemicals becomes the 3rd largest producer
of soda ash in the world with a presence in Europe, Africa
and Asia |
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Kenyan soda ash capacity being doubled to
give significant long term cost advantage |
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Significant volume growth in fertilizers |
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Achieves Brand Equity Index of 7.4 for Tata
Salt (putting it into the league of the World's most salient
brands) |
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New products launched - i-Shakti Refined
Salt and in house herbicide brands |
Tata Chemicals Limited, a leading manufacturer of chemicals,
fertilisers and food additives today announced its audited
financial results for the quarter and nine months ended December
31, 2006. The Company is the third largest manufacturer of
soda ash and sodium bicarbonate in the world, apart from being
the leader in the Indian market. Tata Chemicals also enjoys
leadership in the Indian edible salt market and is the most
efficient manufacturer of urea in the country.
Commenting on the Company's performance for Q3 and 9M FY2007,
Homi Khusrokhan, Managing Director, Tata Chemicals, said,
"Our results for the quarter under review are very encouraging.
Despite the challenging business environment, our Net Profit
after Tax has increased by a healthy 21 per cent. Our cost
reduction programmes have been timely and have compensated
cost increases both in India and Europe. Our capacity expansion
at Magadi will further enhance profitability and expand sales
of dense soda ash to the fast growing glass segment. Tata
Chemicals will deliver sustained growth going forward."
9M FY07Stand alone Profit from operations grew by 7 per centto
Rs 532 crore on the back of improved efficiencies and lower
input costs.
Although not directly comparable, as a consequence of our
recent acquisitions, on a consolidated basis 9M FY07 net income
from operations improved around 65 per cent YOY while PAT
for the same period increased around 48 per cent.
Note: Consolidated summarized financial information
indicated in this communication are unaudited and primarily
include those of the Brunner Mond Group acquired in December
2005 and the one third stake acquisition in Indo Maroc Phosphore
S.A. (IMACID) The statutory auditors have carried out audit
of the standalone results for the 9 months ended December
31, 2006 and a limited review for the quarter ended December
31, 2006
Segmental performance
A. Chemicals
Soda ash
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Tata Chemicals maintained its dominance
in the Indian soda ash market with an overall domestic
marketshare (including imports) of 32.1 per cent for the
last nine months under review |
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Modernisation and expansion of the Mithapur
inorganic chemicals manufacturing facility is in progress.
The programme is focused on enhancing efficiencies and
increasing capacities across all products |
Food additives
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Tata Chemicals maintained leadership in
the domestic edible salt market with a marketshare of
46.5 per cent in the national branded segment |
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The Solar-refined Free Flow Iodized Salt
'i-Shakti' launched in the last quarter received an encouraging
response |
B. Fertilisers
Nitrogenous (Urea)
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Continued availability of natural gas enabled
improved production volumes |
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During the quarter, the Company launched
new herbicides which were well received by the trade |
Phosphatics (NPK, SSP, DAP)
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DAP, NPK and complex fertiliser sales volumes
were healthy during the quarter |
Brunner Mond Overview
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The integration process with Brunner Mond
is now complete |
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The expansion of the manufacturing facility
at Magadi, Kenya is in process |
Financial management
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Total debt as on December 31, 2006 stood
at Rs 1,327 crore. Debt largely comprises low cost short
term buyers credit for the phosphatics business and the
Foreign Currency Commercial borrowing raised in January
2005 |
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Total debt as on September 30, 2006 stood
at Rs 1,374 crore. Debt largely comprises low cost short
term buyers credit for the phosphatics business and the
Foreign Currency Commercial borrowing raised in January
2005 |
Note: Some of the statements in this document that
are not historical facts are forward looking statements. These
statements are based on the present international and domestic
business environment and regulatory framework. We assume no
responsibility for any action taken based on the said information,
or to update the same as circumstances change.
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