Tata Chemicals EBIDTA for the period up by 15 per cent
- Q3 FY1920 Profit from continuing & discontinuing operations on a consolidated basis was at INR 288 Cr, up by 8% and standalone at INR 211 Cr, up by 64%
- Consumer Products segment reported discontinued operations, revenue for the quarter stood at INR 531 Cr
03 February, 2020: Tata Chemicals Group (the “Company”) today declared its Consolidated Financial Results for the third quarter ended 31st December, 2019. The Company reported income from operations on consolidated basis at INR 2,620 Cr, up 2% and INR 756 Cr, on a standalone basis against the same quarter last year.
The Company’s results by reporting segment showed Income from operations for Basic Chemistry Products at INR 2,007 Cr and Specialty Products at INR 604 Cr.
Standalone Highlights Q3 FY19-20
- Basic Chemical business, revenue down by 3% as compared to the previous quarter
- Specialty Chemicals business on aggressive growth path
- Post successful commissioning of our state-of-the-art manufacturing facility in Nellore for our Nutritional Solutions business, trial production of FOS (a prebiotic dietary fibre) is underway, commercial production to commence soon
- Commercial production of Highly Dispersible Silica (HDS) to commence in Q4FY1920 basis its positive trial production phase and encouraging customer response
- The National Company Law Tribunal has sanctioned the Scheme of Arrangement for demerger of Consumer business of Tata Chemicals Limited ("Demerged company") and Tata Global Beverages Limited – as per the order, transaction and transition underway, expected to be completed in Q4
- Consumer business continues to perform well and witnessed growth of 13% over the previous quarter
Consolidated Highlights Q3 FY19-20
- Acquired balance 25% stake in TCSAP through Valley Holding for USD 195 million.
- TCNA – Full ownership of the business has simplified enterprise architecture. Focus and plan is to strengthen and maintain leadership position
- TCML – had operational challenges due to which sales volumes were impacted
- TCE operations yielding positive results with continuous focus on efficiency improvement
- Rallis India’s revenue grew by 28% due to higher volumes and better realization from international and domestic business
- The National Company Law Tribunal has sanctioned the Scheme of Arrangement for merger of Metahelix ("Merged Company") into Rallis India Limited – as per the order dated 10th January 2020. The Scheme of Merger has become effective since 1st February, 2020
- Consolidated Net Debt is at INR 3,726 Cr as on 31st December 2019
Executive Comment
Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “For the quarter under review, I am pleased to share an overall steady performance across all our business verticals. The Basic Chemistry Products business continues its’ resilient albeit pressures from operating environment. The capex investment in Mithapur to expand capacities is proceeding as per plan. Our new state-of-the-art manufacturing facility for Nutritional Solutions is undergoing trials for production of FOS and commercial production is expected to commence towards the end of Q4 FY20. Our Cuddalore plant is also undertaking trial production of Highly Dispersible Silica. Under the Energy Science business, the 3P plant for Li-ion battery recycling has been operational. In our Agro Sciences business, Rallis India continues to perform well and grew by 28% due to higher volumes and better realization from international and domestic business. Transfer of our Consumer business to Tata Global Beverages Limited is underway as approved by the respective National Company Law Tribunals. Each of our business segments are picking up momentum, with some still in the growth phase. The company is poised for growth and aims to accomplish this through relentless Operational Excellence and strong commitment toward Sustainability, Innovation and Digitisation.”