August 07, 2023

Consolidated Revenue from Operations for the quarter ended June 2023 stood at Rs4,218 Cr, up by 6%

7th August 2023: Tata Chemicals Limited today declared its financial results for the quarter ended June 30, 2023. On a consolidated basis, for the quarter, the revenue from operations stood at Rs4,218 Cr, as compared to Rs3,995 Cr in the corresponding quarter of last year. EBITDA on a consolidated basis, stood at Rs1,043 Cr for the quarter, as compared to Rs1,015 Cr in for the corresponding quarter of last year. PAT from continuing operations on a consolidated basis, stood at Rs578 Cr, for the quarter, as compared to Rs641 Cr in for the corresponding quarter of last year. The Company’s performance reflects better realisations partly impacted by lower volumes.

For the quarter, on a standalone basis, the revenue stood at Rs1,135 Cr, as compared to Rs1,225 Cr in for the corresponding quarter of last year. PAT on a standalone basis stood at ? 328 Cr, as compared to Rs381 Cr for the corresponding quarter of last year.

As on 30 June 2023, consolidated gross debt dropped to Rs5,873 Cr, as compared to Rs6,296 Cr as on 31 March 2023. Also, as on 30 June 2023, cash & cash equivalents stood at Rs1,544 Cr, as compared to Rs2,398 Cr as on 31 March 2023.

Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “The Company has delivered a satisfactory performance during Q1FY24 as compared to Q1FY23 despite a challenging environment. The soda ash prices got adversely impacted as many customers delayed their purchasing decisions due to new supplies expected from Inner Mongolia, China. This was further impacted by slower growth in Chinese economy post-COVID and softening of industrial production in developed economies and this may persist in the near term. The Company had to adopt agile pricing to maximize volumes and ensure optimum utilization of capacity. We expect that the sustainability trend will continue to positively impact the demand for newer applications like solar glass and lithium in the medium to long term. Our focus is to ensure that we maintain our market share through customer engagement and continued agile pricing, and to ensure steady contribution margins with focus on costs”.

Consolidated Highlights Q1FY24

  • Consolidated Revenue from operations stood at Rs4,218 Cr, up 6%, as compared to Rs3,995 Cr for corresponding quarter of last year
  • Consolidated Profit After Tax from continuing operations (pre-MI) was Rs578 Cr, down by 10% as compared to Rs641 Cr for corresponding quarter of last year
  • Company’s gross debt as on June 30, 2023 reduced to Rs5,873 Cr
  • Rallis India recorded consolidated revenues of Rs782 Cr for the quarter ended 30 June 2023, a decrease of 9% as compared to Rs863 Cr for corresponding quarter of last year.

Standalone Highlights Q4 FY23

  • Standalone Revenue from operations stood at Rs1,135 Cr, down by 7%, as compared to Rs1,225 Cr for corresponding quarter of last year
  • Standalone Profit After Tax from continuing operations was Rs328 Cr as compared to Rs381 Cr for corresponding quarter of last year

You can find the Tata Chemicals Ltd. Statement of Consolidated Financial Results for the quarter ended 30 June here

You can find the Tata Chemicals Ltd. Statement of Standalone Audited Financial Results for the quarter ended 30 June, 2023 here

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