Tata Chemicals Q1 FY 2009-10 Net Profit Up 60.80 per cent Y-o-Y at Rs 94.40 Crore Vs Rs. 58.70 Crores
Mumbai, July 30, 2009

Revenues Up 19.40 per cent Y-o-Y at Rs 1441 Crores Vs Rs. 1207 Crores

Business Highlights
	Improved demand drives operations.
	New Sodium bicarbonate plant in UK commissioned
	Expanded urea operations continue smoothly at over 3,500 tonnes per day
	Focused efficiency and cash conservation programme ADAPT showing results across all locations
	Total debt of Rs 440 crore repaid during the quarter
	Tata Chemicals continues to lead the Salt market with a market share of 57.9 per cent amongst national brands
	During the quarter, Tata Salt regained its position as the “No.1 Most trusted Food brand” in India

Q1 FY10 Standalone Financial Highlights
	Revenues at Rs 1,441 crore up 19.4 per cent
	PAT is up 60.8 per cent to Rs 94 crore
	EPS at Rs 4.01 from Rs 2.51

Q1 FY10 Consolidated Financial Highlights
	Revenues at Rs 2,285 crore up 4.2 per cent
	PAT * after Minority Interest at Rs 106 crore

Tata Chemicals Limited, a leading manufacturer of chemicals, fertilisers and food additives today announced it¡¦s consolidated & standalone financial results for the quarter ended June 30, 2009. The Company is the second largest manufacturer of soda ash and the third largest producer of 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 fertiliser in the country.

An improving domestic environment combined with lower input prices and a strict control on operating costs enabled healthy performance for the quarter under review. A reflection of the stabilisation and improvement in the environment is the contribution from key products that has improved compared to the sequentially preceding quarter

Commenting on the Company¡¦s performance for Q1 FY2010, Mr. R Mukundan, Managing Director said:
¡§Our performance is a reflection of a healthy improvement in our domestic operations. Soda ash domestic demand growth at over 8 per cent has been driven largely by the detergents segment. As we had indicated earlier, prices of our key raw materials have declined far more considerably as compared to soda ash as a result of which we have seen healthy contribution from our Mithapur facility. Urea production continues to be high at around 3,500 tons per day. Our salt business too has performed well with our market share at 57.9 per cent. A key enabler of our results has been our cash conservation and efficiency programme ADAPT which has resulted in significant savings in fixed and variable costs across all our locations. This has enabled us to respond in an appropriate manner to a continuously challenging environment. I believe that the strength of our business model combined with the discipline execution of such programmes will enable us come out stronger and more prepared to leverage opportunities as the environment improves

YEAR – ON – YEAR PERFORMANCE COMPARISION
Q1 FY2010 (April – June 2009) v/s Q1 FY2009 (April – June 2008)
	Standalone income from operations (net of excise) at Rs 1,441 crore compared to Rs 1,207 crore in Q1 FY 2009, an increase of 19.4 per cent
	Standalone PAT increased by 60.8 per cent to Rs 94.4 crore from Rs 58.7 crore
	Standalone EPS at Rs 4.01 from Rs 2.51
	Consolidated Income from operations (net of excise) at Rs 2,285 crore compared to Rs 2,192 crore in Q1 FY 2009, an increase of 4.2 per cent
	Consolidated Profit after Tax & Minority Interest (PAT) (after adding back one time provision of Rs 63 crore (net of tax) made towards proposed restructuring of overseas operations in line with local GAAP) at Rs 106 crore

SEGMENTAL PERFORMANCE
CHEMICALS
	Indian demand has grown 8 per cent YOY driven by the detergents, flat glass and container glass segments
	While the imposition of a 20 per cent safeguard duty has tempered Chinese imports to some extent, this still remains a challenge. Chinese production volumes have increased considerably over the last 4 -6 months
	Sodium bicarbonate demand too continues to be healthy though increasing imports are pressuring margins
	BMGL’s performance continues to be encouraging despite the slowdown in the overall environment
	A new Sodium bicarbonate plant with a capacity of 50,000 MT has commenced operations in UK
	Magadi improves both production and sales in the quarter under review
	Domestic demand in the US appears to be stabilising on the back of a gradual increase in industrial activity
	Tata Chemicals continues to lead the Salt market with a market share of 57.9 per cent amongst national brands
	During the quarter, Tata Salt regained its position as the “No.1 Most trusted Food brand” in India

FERTILISERS BUSINESS
	Improved availability of phosphoric acid resulted in smoother operations at Haldia. Rock phosphoric acid prices however continue to be firm while DAP prices remain weak
	Change in policy resulting in DAP subsidy prices being linked to international prices with a lag of 2 months instead of 1 month enables better predictability and management operations.
	IMACID declared a 20 per cent dividend (Tata Chemicals share: Rs 24 crore) for the year ended December 31, 2008

For further information contact:
Sujit Patil
Head, Corporate Communications
Tata Chemicals Ltd
E-mail: spatil@tatachemicals.com

Rakesh Reddy / Soumyashree Saha
Rakesh Reddy / Soumyashree Saha
Mobile: +91 22 6656 8787
E-mail: rakesh@vccpl.com, ssaha@vccpl.com

Some of the statements in this document that are not historical facts are forward looking statements. These statements are based on the present 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.