Tata Chemicals Limited (the “Company”) today declared its Consolidated Financial Results for the second quarter ended September 30, 2017. The Company reported income from operations for the quarter ended September 30, 2017 on consolidated basis at Rs. 3,462 Cr, lower by 0.7% and Rs. 1,598 Cr, lower by 1.0% on a standalone basis. PAT was recorded at Rs. 273 Cr, up by 52% on a consolidated basis and at Rs. 156 Cr, up by 81% on a standalone basis.
Consequent to implementation of Goods and Service Tax (“GST”) from 1st July 2017, net income from operations is net off GST. On a like to like basis, the Revenue from operation for Q2 FY18 is at Rs. 1,598 Cr, up by 2.6%, as compared to Q2 FY17 Rs 1,557 Cr (net off excise duty).
Standalone Q2 FY17-18
Ø Indian Chemicals business continues healthy performance due to stringent cost control and operational efficiency
Ø Tighter marketing spends in the spices and pulses business offset lower sales volumes
Ø Outstanding Subsidy receivable as on 30th Sept 2017 was Rs 1,228 crs (Rs 1,105 Crs as on 30th June 17)
Consolidated Q2 FY17-18
Ø North American operations continue to maintain steady performance backed by higher production and sales
Ø European operations show improved performance with better efficiency
Ø Magadi registers further improvement in operational performance with better sales volumes and profitability
Ø Rallis India maintains steady performance with improved performance from Metahelix
Ø Consolidated net debt on 30th September was Rs. 4,459 Cr against Rs 5,573 Cr on 31st March 2017
Ø European operations register improvement in volume sand performance after the fire in Lostock facility
Ø Detergent speckles –DetMate and Pharma grade Bicarb- Medicarb launched in India
Mr. R. Mukundan, Managing Director, Tata Chemicals Ltd., said, “The quarter under review saw a steady performance from the Indian as well as global Chemicals Business, registering improved profitability owing to cost and operational efficiencies.
In the Consumer business, Tata Salt remains the market leader. We continue to direct our efforts towards growing market shares across product categories and furthering customer excellence
In the farm business, Rallis India and Metahelix continues to register a sound performance in the crop protection business. The company is pleased to have found a suitable partner to further build the Phosphatic fertilizer business, this being in line with our earlier announcement on the sale of the Urea business to exit the fertilizer business.
Our strategy remains to focus on the specialty chemicals and consumer food business as our key areas of growth, while maintaining leadership in the Inorganic Chemicals Business.
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