Press releases


Tata Chemicals' Q1FY16-17 standalone PAT at Rs203 crore, up by 21 percent

Consolidated PAT at Rs206 crore

Tata Chemicals (the 'company') today declared its consolidated financial results for the first quarter ended June 30, 2016. The company reported income from operations for the quarter ended June 30, 2016, on consolidated basis at Rs3,652 crore and Rs1,953 crore on a standalone basis. EBITDA was reported at Rs616 crore up 15 percent on a consolidated basis and at Rs349 crore, up 19 percent on a standalone basis.

Standalone Q1 FY16-17

  • Robust performance of soda ash and salt business with sustained operation excellence.
  • EBIDTA increased from Rs293 crore to Rs349 crore over PY.
  • Consumer portfolio revenues up by 10 percent over Q1 FY15-16. Pulses portfolio revenues grew by 8 percent over Q1 FY15-16.
  • Reduced production and sales of complex fertilizers.
  • Subsidy receivable at Rs1,479 crore as on June 30, 2016.

Consolidated Q1 FY16-17

  • Europe operations register better margins and improved performance in energy business.
  • US production restored with sustained production levels.
  • Magadi continues focus on improving operational performance in Q1 FY16-17.
  • Rallis India registers higher operating profits on account of improved margins, and one-time other income.

Business-wise performance

Living essentials

  • TCL continues to be market leader in the national branded salt segment.
  • Branded besan and pulses revenues grew by 8 percent over Q1FY16.
  • Branded spices available in northern and eastern states, continues phased roll across the country.

Industry essentials

  • Global demand of soda ash in key markets stable however, prices remain range bond with soft bias.
  • Indian chemicals business registers higher revenues.
  • US operations back on track with improved operating margins.
  • Impact of UK £ depreciation post the Brexit vote.

Farm essentials

  • Urea production in line with expectation.
  • Lower sales volumes due to suspension of production in phosphatic fertiliser unit due to high raw material cost.
  • Rallis performance improves on account of better quality of operations, margins and onetime other income.
  • E-Kisansansar, a social collaboration platform piloted for farmers of apple orchards.

Executive comment

R Mukundan, managing director, Tata Chemicals, said, "The quarter under review has been encouraging with improved performance in all businesses led by the Indian operations.

"Our continued focus on improving operational performance has ensured better performance across geographies, along with strong performance of the Indian chemicals business. This took the net profit to Rs206 crore on a consolidated basis. However, we remain watchful of the volatility in the markets. Stand-alone net profit was at Rs203 crore, up 21 percent due to better performance and margins in the Indian business.

"While the consumer product business continues its leadership in the branded salt segment, the Tata Sampann brand extended its reach through the pulses and spices portfolio. Tata Sampann spices are now being rolled out across the country in a phased manner.

"The fertiliser business continues to be under pressure due to subsidy outstanding of Rs1,479 crore. The delayed onset of monsoon impacted the results in the first quarter, however we remain positive and expect conditions to improve in the next quarter.

"Going forward we expect the Indian market to continue the overall growth momentum, and also remain positive about the growth across our businesses."