Tata Chemicals consolidated income from operations for Q3 FY13 at Rs4,197 crore, up by 10 percent; PAT at Rs224 crore
Q3 FY13 standalone financial highlights
- Income from operations at Rs2,546 crore.
- Profit from operations at Rs289 crore.
- PBT at Rs288 crore.
- PAT at Rs242 crore.
- EPS at Rs10 (not annualised).
Q3 FY13 consolidated financial highlights
- Income from operations at Rs4,197 crore.
- Profit from operations at Rs536 crore.
- PBT at Rs345 crore.
- PAT after minority interest at Rs224 crore.
- EPS at Rs9 (not annualised).
Q3 FY13 – performance highlights
- Demand across soda ash, bi-carb and salt stable.
- Urea production on expected line. Encouraging demand for neem-coated urea. Subsidy realisation remains a challenge.
- Pulses sales growing steadily – the unique 'Dal on Call' service launched.
- Tata i-Shakti besan launched in Delhi.
- SSP production and demand on a reversal track.
- IMACID pricing issue settled, production for Q3 on expected lines.
- EPM venture signs contract for preliminary feasibility study – important milestone for the project.
- ECB second installment of $95 million repaid in December 2012.
- Cash and cash equivalent as on December 31, 2012 at Rs1,597.
Commenting on the company’s Q3 FY13 performance, R Mukundan, managing director, Tata Chemicals, said, “Performance for the quarter under review was under stress due to Magadi and UK units’ performance and phosphatics business. Continued outstanding of fertiliser subsidies has created working capital pressures for the company. However, on the whole we remain positive on recent fertiliser policy announcements. Going forward, we expect Indian market to continue the growth momentum; however, there would be continued pressure on soda ash and in the complex fertiliser business. We continue to lead the market in the national branded salt category with 66 percent market share.Taking our consumer centricity focus further, during the quarter, launched Tata i-Shakti Besan in the New Delhi market and a direct to customer based offering, Dal on Call, providing free home delivery to customers. With the announcement of the new urea policy, the company is taking steps to progress brown field expansion plan at Babrala. The company has already secured relevant statutory clearances for this project.”
Businesswise performance
Living essentials
- Tata Salt remained the market leader with 66.3 percent market share in the national branded segment.
- Tata Salt retailer family growing at a healthy pace.
- Pulses sales volume growing steadily Q-o-Q.
- Launched Tata i-Shakti Besan in Delhi.
- Introduced Dal on Call in Mumbai; toll free no 1800 108 4488.
Industry essentials
- Global, as well as domestic, soda ash demand firm.
- Soda ash prices for the quarter were stable, pricing pressure increasing though.
- Cement production higher than expectation.
- Tata Chemicals Europe and Tata Chemicals North America production on expected lines.
- Tata Chemicals Magadi sales impacted due to rains – getting back to normalcy.
Farm essentials
- Urea production in line with expectation.
- Neem-coated urea demand seen rising in the market.
- SSP production and demand growing steadily.
- Rallis net sales up 12 percent on Y-o-Y basis.
- Government announced new urea investment policy for brownfield / greenfield projects.
- IMACID pricing issue settled and production back on track.