Consolidated income from operations for the quarter ended June 2024 at ₹ 3,789 Cr up by 9% and EBITDA at ₹ 574 Cr up by 30%, sequentially

Bengaluru, 5 August 2024: Tata Chemicals Limited today declared its financial results for the quarter ended June 30, 2024. On a consolidated basis, for the quarter, the income from operations stood at ₹ 3,789 Cr as compared to ₹ 3,475 Cr in Q4FY24 (‘previous quarter’). EBITDA stood at ₹ 574 Cr as compared to ₹ 443 Cr in previous quarter. PAT (before exceptional items and non-controlling Interest (‘NCI’)) from continuing operations stood at ₹ 175 Cr as compared to ₹ 145 Cr in previous quarter.

On a standalone basis, for the quarter, the income stood at ₹ 1,047 Cr as compared to ₹ 1,090 Cr in previous quarter. EBITDA stood at ₹ 235 Cr as compared to ₹ 192 Cr in previous quarter. PAT stood at ₹ 256 Cr as compared to ₹ 217 Cr in previous quarter.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals Limited, said, “Overall demand for soda ash was stable during the quarter on account of robust demand for flat glass, container glass and solar glass globally, while Europe experienced muted demand. China demand continued to be stable. The Company has delivered a satisfactory performance during Q1FY25 as compared to Q4FY24 on expected lines. The Company’s overall sales volume remained stable as compared to the previous quarter, with marginal improvement in price sequentially on account of market factors. Our focus is on customer engagement and agile response, while ensuring steady contribution margins with focus on costs. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts.”

Consolidated Highlights Q1FY25

● Consolidated Revenue from operations stood at ₹ 3,789 Cr as compared to ₹ 3,475 Cr for previous quarter.

● Consolidated EBITDA for the quarter stood at ₹ 574 Cr, up by 30% as compared to previous quarter, mainly on account of Q1FY25 being a seasonal quarter for Rallis and better margins in India and the US.

● Consolidated Profit After Tax (before exceptional items and NCI) from continuing operations was ₹ 175 Cr as compared to ₹ 145 Cr for previous quarter.

● Consolidated gross debt as on June 30, 2024 stood at ₹ 6,376 Cr up by ₹ 813 Cr and net debt at ₹ 4,789 Cr up by ₹ 626 Cr, as compared to previous quarter, on account of higher working capital loans and capitalization of leases.

Standalone Highlights Q1FY25

● Standalone Revenue from operations stood at ₹ 1,047 Cr as compared to ₹ 1,090 Cr for previous quarter.

● Standalone Profit After Tax from continuing operations was ₹ 256 Cr as compared to ₹ 217 Cr for previous quarter.

● 2.30 lacs MTPA Soda Ash expansion commissioned at Mithapur.

● 0.7 lacs MTPA Bi-carb expansion commissioned at Mithapur subject to Consent to Operate (‘CTO’) approval.