Tata Chemicals, a leading manufacturer of chemicals, fertilisers and food additives, today, announced its consolidated and standalone financial results for the quarter ended September 30, 2010. 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.
Commenting on the company’s performance for Q2 FY2010-11, R Mukundan, managing director, Tata Chemicals, said:
“We are witnessing an encouraging environment for all our businesses both domestically and overseas. Our agri-business has taken a significant step forward with the launch of our first customised fertiliser at Babrala. We believe there is considerable potential for fertilisers for specific crops and conditions, with farmers looking to enhance crop yield and productivity. Our close association with the farmer has also enabled us make our entry into pulses.
Soda ash and fertiliser demand growth continues to be strong. However input costs are also rising significantly, putting pressure on our margins. Additionally some unanticipated plant shutdowns, mainly due to natural causes, resulted in muted production volumes during the quarter under review. These have now been addressed.
We are optimistic of improved production and sales and consequently a stronger financial and operating performance going forward.”