February 10, 2016

Tata Chemicals reports consolidated financial results for the third quarter and nine-months ended December 31, 2015

Tata Chemicals group (TCL)  today declared its consolidated financial results for the third quarter (Q3 FY16) and nine-months (9M FY16) ended December 31, 2015. For the quarter, the group reported income from operations at Rs4,637 crore and EBITDA of Rs490 crore. Standalone income from operations reported at Rs2,999 crore with EBITDA at Rs284 crore, up 3 percent. For the nine months ended December 2015, the group recorded a consolidated income from operations of Rs13,701 crore and EBITDA of Rs1,637 crore. Standalone income from operations was reported at Rs8,382 crore and EBITDA of Rs840 crore. 

Extracts of statement of standalone audited financial results for the quarter and nine months ended December 31, 2015
      (Rs in crore)
Particulars Quarter ended December 31, 2015 Nine months ended December 31, 2015 Quarter ended December 31, 2014
Total income from operations (net) 2998.54 8381.81 3015.69
Net Profit after tax 146.31 483.98 204.55
Equity Share Capital 254.82 254.82 254.82
Reserves (excluding Revaluation Reserve as shown in the Balance Sheet of the previous financial year) 5788.45 5788.45 5446.41
(As at March 31, 2015) (As at March 31, 2015) (As at March 31, 2015)
Earnings Per Share (Face Value: Rs10 each)      
Basic (Not annualised) 5.74 19.00 8.03
Diluted (Not annualised) 5.74 19.00 8.03

 

Extracts of statement of consolidated unaudited financial results for the quarter and nine months ended December 31, 2015
      (Rs in crore)
Particulars Quarter ended December 31, 2015 Nine months ended December 31, 2015 Quarter ended December 31, 2014
Total income from operations (net) 4637.35 13701.18 4816.86
Net Profit after taxes, share of loss of associate and minority interest 129.94 537.92 238.12
Equity Share Capital 254.82 254.82 254.82
Reserves (excluding Revaluation Reserve as shown in the Balance Sheet of the previous financial year) 5296.89 5296.89 5310.69
(As at March 31, 2015) (As at March 31, 2015) (As at March 31, 2015)
Earnings Per Share (Face Value: Rs10 each)      
Basic (Not annualised) 5.10 21.12 9.35
Diluted (Not annualised) 5.10 21.12 9.35
*(excluding revaluation reserve as shown in the balance sheet of the previous financial year)


Key performance and financial highlights:

Standalone

  • Soda ash and salt deliver improved performance over last year in India.
  • Consumer portfolio revenues up by 25 percent over Q3 FY14-15.
  • Tata Sampann, foods product portfolio, pan-India roll out continues.
  • Subsidy receivable at Rs1,577 crore as on December 31, 2015.

Consolidated

  • Magadi has improved profitability in Q3 FY15-16.
  • US volumes impacted due to production outages and extreme weather conditions.
  • European operations stabilised, post commissioning of the steam turbine. The financial performance was adversely impacted by the marking to market of hedging contracts for future gas purchases, supporting soda ash production.
  • Adverse climatic conditions, weaker yields and lower prices of key crops impact Rallis India performance.

Businesswise performance

Living essentials

  • TCL continues the journey of transformation towards a more consumer facing business.
  • TCL is a market leader in the national branded salt segment with 66.7  percent market share.
  •  Tata Salt ranked No2 on the Brand Equity ‘Most Trusted Brands’ survey.
  • Branded pulses sales up 54 percent over the previous year.
  • Branded spices successfully launched in seven states – Delhi, UP, MP, Bihar, Jammu and Kashmir, Uttarakhand and Rajasthan.

Industry essentials

  • Soda ash market remains in balance.
  • Indian chemicals business registers a healthy performance.
  • European operations stabilised, post commissioning of the steam turbine. The financial performance was adversely impacted by the marking to market of hedging contracts for future gas purchases, supporting soda ash production.
  • Magadi operations reflects improved performance.
  • US operations were impacted by production outages and extreme weather conditions.

Farm essentials

  • Subsidy receivable at Rs1,577 crore as on December 31, 2015.
  • Adverse climatic conditions, deficient rainfall impact Rallis India performance.