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Tata Chemicals consolidated profit from operations for Q4 FY15-16 at Rs520 crore, up by 26 percent

  • Q4 consolidated revenue stood at Rs4,007 crore, up 7 percent, and PAT stood at Rs242 crore
  • Recommends dividend of Rs10 per share

Tata Chemicals (the "Company") today declared its consolidated financial results for the full year (FY15-16) and fourth quarter ended March 31, 2016. The company reported income from operations for FY15-16 on consolidated basis at Rs17,708 crore, up 3 percent Y-o-Y and Rs10,650 crore up 6 percent on a standalone basis. For the quarter ended March 31, the company reported income from operations at Rs4,007 crore and EBITDA of Rs520 crore, up 26 percent; standalone income from operations reported at Rs2,268 crore, up 7 percent, with EBITDA at Rs186 crore, up 14 percent.

Standalone Q4 FY15-16

  • Soda ash and salt in India continue to deliver improved performance over last year.
  • Agri and consumer portfolio drove higher net revenues.
  • Consumer portfolio revenues up by 15 percent over last year.
  • Subsidy receivable at Rs1,902 crore as on March 31, 2016.
  • FOS-based formulations launched successfully in 92 cities.

Consolidated Q4 FY15-16

  • Magadi operations continue improved profitability.
  • US production back on track in the final quarter.
  • Europe operations register improved performance in energy business and better product margins.
  • Adverse climatic conditions, weaker yields and lower prices of key crops impact Rallis India performance.

Business-wise performance

Living essentials

  • Tata Chemicals continued to be a market leader in the national branded salt segment.
  • Branded pulses sales up 25 percent over the previous year.
  • Branded spices under Tata Sampann brand successfully launched in North and East regions, pan-India roll out continues.

Industry essentials

  • Indian chemicals business registers higher revenues.
  • Soda ash market in balance.
  • US operations maintain higher operating margins on account of better realisations.
  • Improved operating performance in Europe post commissioning of steam turbine.

Farm essentials

  • Subsidy receivable at Rs1,902 crore as on March 31, 2016, as against Rs1,577 crore on December 31, 2015.
  • TKS networks count at 850 plus centres that reach 20,000 villages and approximately 1.3 million farmers across seven states directly.

Dividend
The board of directors of the company has recommended an equity dividend of Rs10 per share for FY16-17.

Executive comment
R Mukundan, managing director, Tata Chemicals, said, "The quarter under review has been encouraging with improved performance in all businesses led by the Indian operations.

"The improved performance of all international geographies along with lower input costs for the Indian chemicals business took the operating profit to Rs520 crore, a jump of 26 percent on a consolidated basis. However, we remain watchful of the situation in the UK and Kenya. Standalone revenue was up by 7 percent to Rs2,268 crore and net profit was at Rs111 crore due to better performance in the chemicals and consumer business in India.

"The consumer products business continues to grow and maintained its leadership position in the national branded edible salt market. Tata Sampann unique unpolished pulses continue to deliver high protein to its customers. Branded spices under the Tata Sampann umbrella brand are being rolled out pan-India. This focus on expansion of branded food products portfolio and increased market penetration helped the consumer business cross turnover of Rs1,850 crore in FY15-16

"The fertiliser business continues to be under pressure due to subsidy outstanding of Rs1,902 crore.

"Going forward, we will focus on operational excellence and enhance the share of the foods business."




TCL TUBE

Zarir N Langrana, COO, chemicals business, Tata Chemicals