Tata Chemicals consolidated income from operations for Q4 FY14-15 at Rs3,743 crore, up by 1 percent
Consumer products portfolio crosses sales turnover of Rs1,500 crore in FY14-15
Declares dividend of Rs10 per share and a special dividend of 25 percent per share on the occasion of platinum jubilee year of the company
Mumbai: Tata Chemicals (TCL), a global company with LIFE (Living, Industry and Farm Essentials) at its core, reported income from operations at Rs3,743 crore up by 1 percent Y-o-Y. Net income from operations for the FY15 on consolidated basis was at Rs17,203 crore – 8 percent up Y-o-Y.
Key performance and financial highlights:
Standalone
- Excellent performance in soda ash and salt business
- Pulses portfolio volume up by 47 percent in Q4 FY15 Y-o-Y
- Urea and phosphatics business under margin pressure
- Subsidy receivable at Rs1,972 crore as on March 31, 2015. Subsidy collections delay continues
Consolidated- Magadi turnaround, positive performance in Q4 FY15
- European restructuring progressing well
- USA operation performs to expectations
- Rallis India performance good despite erratic weather conditions
Commenting on the company's Q4 and FY14-15 performance, R Mukundan, managing director, TCL said, "The quarter under review has been encouraging; Magadi operations have started experiencing the positive impact after the painful restructuring exercise. The USA and Indian chemical businesses performance was satisfactory, as was the salt portfolio.
Stand-alone revenues were up by 5 percent to Rs2,113 crore due to sustained performance in the consumer and chemicals business in India and consolidated revenue were at Rs3,743 crore.
Salt portfolio continues to grow consistently at the market place and has maintained its leadership position with a market share of 67 percent in the national branded edible salt segment. i-Shakti pulses volumes grew by 47 percent in the quarter on a Y-o-Y basis and continue to grow steadily with focus on increasing the penetration levels across India. Continued focus on expansion of branded products portfolio and market penetration helped consumer products business achieve sales turnover of Rs 1,520 crore in FY 2014-15, a milestone and a jump of 15 percent over previous year.
The fertiliser business continues to be under pressure, despite excellent manufacturing performance, due to margin pressure and the effects of the delay in subsidy which is currently at Rs1,972 crore. Recent policy announcement by government is being reviewed by the business to understand its implications.
Going forward in FY15-16, we will continue to focus on reshaping the portfolio to enhance share of consumer product business and non-subsidized farm inputs business."
Businesswise performance
Living essentials- TCL salt - market leader in the national branded salt segment with 67 percent market share
- i-Shakti pulses and besan volumes up by 47 percent on Y-o-Y basis
- i-Shakti spices now available in Punjab, Himachal Pradesh and Haryana
- Tata Salt Plus Double fortified salt and Tata Salt Crystal being test marketed
Industry essentials- Global and domestic stable and prices firming up
- Magadi operation shows good performance post restructuring
- Demand firming up at North America. Sold out for calendar year 2015
Farm essentials- Urea production on target, gas-pooling policy a positive
- Energy consumption at lowest levels at plants
- New product Tata Paras 20:20 performing well in the market