TATA Chemicals’ consolidated Profit for Q3 is Rs161 Crs
Standalone Profit for the period stood at Rs116 Cr
Mumbai, 28 January, 2021: Tata Chemicals today declared its financial results for the quarter ended 31 December, 2020. The Company reported income from operations on consolidated basis at Rs2,606 Cr, down by 0.7% as compared to Rs2,623 Cr of the corresponding quarter of previous fiscal. PAT reported for equity shareholders, from continued operations, on consolidated basis stood at Rs161 Cr, down Rs 6 Crs from same period last year.
On a standalone basis, the income from operations rose by 7% to Rs812 Cr, as compared to Rs759 Cr of the corresponding quarter of last year. PAT, from continued operations stood at Rs116 Cr, compared to Rs 137 Crs for the same period last year.
The Company’s income from operations on consolidated basis for Basic Chemistry Products segment stood at Rs1,987 Cr, down by 1% and Specialty Products segment at Rs618 Cr, up by 2%, as compared to the corresponding quarter of last year.
Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “During Q3, we have witnessed sequential improvement in demand, even as we navigate the margin pressures through agile execution of cost efficiencies. While we are focusing on business continuity, the health and safety of our employees and partners still remain our priority. In the coming quarters, we expect a greater recovery in production and demand, given the commencement of the vaccination drive in India. Our business strategy going forward will be scaling up the value chain across our verticals with increased efforts towards R&D and innovation.”
Standalone Highlights Q3 FY2021
- Standalone Revenue operations were up by 7% as compared to Q3FY1920
- Soda Ash and Bicarb imports jumped sharply, particularly in the later part of Q3
- Production and sales of major products - Soda Ash, Bi-Carb, Cement, and Silica reported an increase, both on Q-o-Q and Y-o-Y basis
- During the quarter, launched sodium hypochlorite
- Continue to see strong growth in prebiotics portfolio (short-chain Fructo Oligosaccharides) and other nutritional ingredients for food and feed
- In Q3, our Science Based Targets initiative (SBTi) targets got confirmed and accepted
Consolidated Highlights Q3 FY2021
- Faced marginal issues in the export market out of the US
- US and UK business did well throughout the pandemic
- Witnessing certain demand issues in South East Asian markets, but overall momentum is positive
- Rallis India reported Q3 Consolidated Revenues at Rs570 Crores and PAT growth of 20% at Rs46 Crores
Performance Materials
- Domestic demand for Soda Ash and Bicarb continued to improve and stabilised in Q3. It is likely to remain steady in Q4. Soda Ash demand from detergent was slightly muted and cement demand improved with good volume growth, particularly after mid-November
- Global prices have dropped across most regions. Higher quantum of imports, at progressively lower rates has impacted overall price points in the domestic market
- Caustic production restarted with the commissioning of the new plant
- In Silica, focus on new customer acquisition and trial order from tyre companies led to sales buoyancy.
Nutritional Solutions
- Salt production is steady, in line with the customer demand
- Branded bicarb witnessed a pickup in demand. Continue to maintain strong market shares and command premium in the market
- Business focus will be on bicarbonate and salt, Fermentation based products for food and Pharma companies
- Continue to see strong growth in our prebiotics portfolio (short-chain Fructo Oligosaccharides) and other nutritional ingredients for food and feed
- Operations of Nellore facility in line with the plan and we have received key certifications of FSSC 22000 and FAMI QS in this quarter
Agri Sciences (Rallis India)
- Continued up-stocking of raw materials to avert production disruptions due to potential supply chain issues
- 14% revenue growth on YTD basis in the domestic formulation business. Strong support by flagship brands
- Launched one new insecticide and three new crop nutrition products
About Tata Chemicals Ltd.
A part of the over US$ 110 billion Tata Group, Tata Chemicals Limited, is a global company with interests in businesses that focus on Basic Chemistry Products and Specialty Chemistry Products. The story of the company is about harnessing the fruits of science for goals that go beyond business. The company’s Basic Chemistry product range provides key ingredients to some of the world’s largest manufacturers of glass, detergents and other industrial products. Tata Chemicals currently is the world’s third largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. The company has a strong position in the crop protection business through its subsidiary company Rallis India Ltd. Tata Chemicals has established world class R&D capabilities with a dedicated band of research and scientific personnel working at its facilities in Pune and Bangalore in the emerging areas of material sciences, nutritional sciences, nanotechnology, biotechnology and agriculture sciences.
For more information please contact:
R Nanda | Manisha Keshwa
Corporate Communications
Tel: +91 22 66437468 |+ 91 8879288634
rnanda@tatachemicals.com | mkeshwa@tatachemicals.com
Prerana Channe | Namrata Kulkarni
Adfactors PR
Mobile – 9967857161 | 7506037850
prerana.channe@adfactorspr.com | namrata.kulkarni@adfactorspr.com