Highlights 9M FY07
Stand-alone
- PAT at Rs 350 cr - up by 21 per cent over 9M FY06
- Revenues at Rs 3,188 cr - up by 15 per cent over 9M FY06
- Basic EPS Rs 16.26 up by 21 per cent
Consolidated (incl overseas subsidiaries)
- PAT at Rs 428 cr
- Revenues at Rs 4,566 cr
- Basic EPS: Rs 20.06
Highlights Q3 FY07
Standalone
- PAT at Rs 117 cr - up by 19 per cent over Q3 FY06
- Revenues at Rs 1,307 cr - up by 4 per cent over Q3 FY06
- Basic EPS Rs 5.43 up by 19 per cent
- Consolidated (incl overseas subsidiaries)
- PAT at Rs 156 cr
- Revenues at Rs 1,780 cr
- Basic EPS: Rs 7.27
Tata Chemicals revenues cross USD 1 billion for the 9 months FY07
- 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
- Kenyan soda ash capacity being doubled to give significant long term cost advantage
- Significant volume growth in fertilizers
- Achieves Brand Equity Index of 7.4 for Tata Salt (putting it into the league of the World's most salient brands)
- 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
- 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
- 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
- Tata Chemicals maintained leadership in the domestic edible salt market with a marketshare of 46.5 per cent in the national branded segment
- The Solar-refined Free Flow Iodized Salt 'i-Shakti' launched in the last quarter received an encouraging response
B. Fertilisers
Nitrogenous (Urea)
- Continued availability of natural gas enabled improved production volumes
- During the quarter, the Company launched new herbicides which were well received by the trade
Phosphatics (NPK, SSP, DAP)
- DAP, NPK and complex fertiliser sales volumes were healthy during the quarter
Brunner Mond Overview
- The integration process with Brunner Mond is now complete
- The expansion of the manufacturing facility at Magadi, Kenya is in process
Financial management
- 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
- 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.