TATA Chemicals’ consolidated Profit from operations for Q3 FY 18 - 19 at Rs.219 Cr & standalone Profit from operations at Rs. 128 Cr
05th February, 2019: Tata Chemicals Group (the “Company”) today declared its Consolidated Financial Results for the third quarter ended 31st December, 2018. The Company reported income from operations on consolidated basis at Rs. 2,832 Cr, up 10% and Rs. 1,019 Cr, up 12% 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 Rs 2,142 Cr, Consumer Products segment at Rs 471 Cr and Specialty Products Rs 429 Cr.
Performance Highlights Q3 FY18-19
- Soda Ash business in India registers steady performance due to operational efficiencies, despite stiff competition and higher energy prices
- Tata Salt maintains its leadership position in the branded salt sector. Consumer products business continues to expand its product offerings under the Tata Sampann umbrella brand
- Plans for Nutritional Solutions and HDS manufacturing facilities are on schedule
- Improved performance at North American operations impacted by lower production & unplanned maintenance issues
- Magadi registered a good performance with improved sales and higher realization
- Europe margins impacted due to higher costs in soda ash and salt business, and a one off increase in UK Pension liability
- Consolidated Net Debt at Rs 2103 Cr as on 31st December, 18
Consumer Business Highlights Q3 FY18-19
- Consumer products business registered a growth of 17% over Q3FY18
- Pulses and spices portfolio expanded by 110 % over the previous year
- Tata Sampann brand introduced Bran Rich Basmati Rice and Red Rice Poha in select markets
- Marketing campaigns launched to strengthen existing and new categories and products
Specialty Products
- Higher sales from International business and Metahelix performance supported Rallis India’s performance
- Nutritional Solutions business registered higher sales volumes. Tata Nx, the B2C variant is now available thru e-commerce and modern trade outlets in select cities
- Tata Chemicals signed an MoU with Centre for Materials for Electronics Technology(C-MET), Pune for developing collaborative technology for lithium ion batteries
Executive Comment
Mr. R. Mukundan, Managing Director, Tata Chemicals Ltd., said, “Our Basic Chemistry Products business witnessed sustained demand across all markets. Indian operations registered a good performance on the back of operational efficiency despite challenges of higher energy costs. On the global front, there was tepid performance from the UK and US operations due to power outage and reducing production in the US, along with adverse sales mix and higher energy costs in the UK. Magadi operations registered a good overall performance.
The Consumer Products business reported a 17 percent growth on the back of higher volumes from all three categories - Salt, Pulses and Spices. The business continued expansion with the introduction of two new categories under the Tata Sampann umbrella brand that promises wholesome nourishing foods. Bran Rich Basmati Rice and Red Rice Poha are the latest addition to the portfolio. We continue to focus on improving our market reach and availability for these products.
In line with our growth focus on Specialty business, we are upgrading the Silica facility to enhance its operational readiness to consistently produce high quality products that meet customer requirements. We look forward to commission both, Nellore and Cuddalore facilities in 2019.
We are pleased to collaborate with the CSIR-CECRI & C-MET to develop technologies for lithium energy storage solutions and are excited at the potential this sector has in India going forward. In the Nutritional solution business, we are very much on-track to deliver on our stated strategy for the business.
The Chemicals business, comprising of the Basic Chemistry and Specialty Products, and the Consumer business continue to be the two pillars of the Company. Innovation, Digitisation and Sustainability continue to be the key pivots in our transformation journey.”
About Tata Chemicals
A part of the over US$ 100 billion Tata Group, Tata Chemicals Limited, is a global company with interests in businesses that focus on Basic Chemistry Products, Consumer and Specialty products. The story of the company is about harnessing the fruits of science for goals that go beyond business.
Through its Consumer products portfolio the company has positively impacted the lives of millions of Indians. Tata Chemicals is the pioneer and market leader in India’s branded Iodised salt segment. Extending its portfolio from salt to other food essentials, TCL unveiled India’s first national brand of pulses, followed by a range of spices and nutrimixes. Tata Chemicals has been rated as one of the top 10% in Business and Consumer brands across all industry and consumer brand categories in India by Superbrands™.
The company’s Basic Chemistry product range provides key ingredients to some of the world’s largest manufacturers of glass, detergents and other industrial products. Tata Chemicals currently is the world’s third largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. With its Farming Essentials portfolio the company through its subsidiary Rallis, has a strong position in the crop protection business. The Tata Chemicals Innovation Centre is home to world class R&D capabilities in the emerging areas of food sciences, nanotechnology and biotechnology.
For more information please contact:
R Nanda | Keya Muriya
Tata Chemicals Ltd.
Tel: +91 22 66657860 |+ 91 9819635036
Email: rnanda@tatachemicals.com / kmuriya@tatachemicals.com
Vilas Bade
Adfactors PR
Mobile: 8007771343
Email: vilas.bade@adfactorspr.com