Tata Chemicals consolidated income from operations for Q1 FY13-14 at Rs3,312 crore, up by 8 percent
PAT at Rs75 crore
Q1 FY13-14 consolidated financial highlights
- Income from operations at Rs 3,312 crore
- Profit from operations at Rs411 crore
- PBT at Rs161 crore
- PAT at Rs75 crore
- EPS at Rs2.95 (not annualised)
Q1 FY13-14 standalone financial highlights
- Income from operations at Rs1,692 crore
- Profit from operations at Rs213 crore
- PBT at Rs131 crore
- PAT at Rs100 crore
- EPS at Rs3.94 (not annualised)
Q4 FY13 standalone financial highlights
- Domestic chemicals business registers healthy sales volumes in most products, realisations stable
- Consumer products business performance on expected lines
- Global chemicals performance impacted due to softening demand, lower realisations and plant stoppages
- Haldia production suffers due to non-availability of phos acid in Q1
- Agri and trading fertiliser business volumes impacted due to volatile exchange rates
- Rallis EBITDA up at 12 percent due to improved performance of Metahelix
Financial performance highlights
- Subsidy receivable at Rs1,160 crore as on June 30, 2013, compared to Rs1,753 crore on March 31, 2013
- Subsidy collections likely to face pressure in the coming quarters
- ECB USD 475 million: the third instalment of USD 95 million repaid in June 2013
Commenting on the company's Q1 FY13-14 performance, R Mukundan, managing director, said: "Overall for the quarter, domestic businesses showed decent performance with the chemicals and consumer business portfolio registering satisfactory numbers. Fertilisers and agri-business had an adverse impact of foreign exchange volatility and raw material shortages. International entities are challenged with issues of softening demand, lower realisations, plant stoppages and increasing energy prices.
Consumer-facing business continued its progressive journey with i-Shakti pulses registering 79 percent growth in sales compared with the same period last year. Tata Swach sales picked up during the quarter impressively.
We remain cautious on the global demand scenario going forward, domestically as well as internationally, and while prices may remain at the same levels, margins remain under pressure. Subsidy outstanding has come down as compared to March 2013 levels, but will continue to remain challenged in the balance portion of the year.
The implementation of the nutritional solutions plant in Chennai is on schedule. On the strategic front, we continue to focus on building the specialty chemicals and consumer business portfolio."
Business-wise performance
Living essentials
- Tata Salt sales up by 3.4 percent
- TCL salt franchisee market leader with 65.2 percent market share in the national branded salt segment
- Launched operation 'Vistaar' to enhance retail penetration for i-Shakti pulses
Industry essentials
- Global soda ash demand as well as realisations stable
- Domestic soda ash demand stable and prices improving
- Soda ash production in Europe impacted due to delayed turn-down
- Magadi production marginally impacted due to power interruption
- Production at Tata Chemicals North America on expected lines
Farm essentials
- Urea production in line with expectation. Q1 experienced higher urea imports. Global urea prices down. Will have to watch the next few quarters
- Neem-coated urea accounted for 35.7 percent of total urea production. SSP production higher than expectation
- DAP/NPK production impacted due to clarity on subsidies and raw material stoppages
- In Q1 FY14, Rallis registered 20 percent growth in revenue — net sales at Rs409 crore — a new milestone. Net profit at Rs27 crore up by 14 percent
- IMACID resumed production in May 2013 post shut down. Production on expected lines