Tata Chemicals reports 6% of growth in Consolidated income from operations for Q1 FY20
09/08/2019 16:34
Tata Group’s Tata Chemicals Limited said that, “it has declared its Consolidated Financial Results for the first quarter ended 30 June, 2019,” in a filing to Bombay Stock Exchange.

As per the BSE report, the Company reported income from operations on consolidated basis at Rs 2,897 Cr, up by 6 per cent and Rs 1,031 Cr, up by 4 per cent on a standalone basis against the same quarter last year.

Further, the Company’s results by reporting segment showed Income from operations for Basic Chemistry Products at Rs 1,946 Cr, up by 1 per cent, Consumer products segment at Rs 495 Cr, up by 13 per cent and Specialty Products Rs 634 Cr, up by 9 per cent.

The company’s Standalone Q1 FY19-20 results stated that it received environment approval for expansion of soda ash plant in Gujarat at an estimated cost of Rs 1,042.07 crore. The company re-launched Tata Shudh cement with “Superior 1 day strength” quality. Its state of the art manufacturing facility in Nellore for Nutritional Solutions is in the final stage of commissioning; trial production to commence soon. Highly Dispersible Silica trial production at the Cuddalore facility received an encouraging response from the customers. Consumer business continues to perform well and witnessed growth of 13 per cent over the previous year.

In addition, the Consolidated Q1 FY19-20 performance stated that TCML continues to be on the growth path with higher volumes and lower input costs. TCE continues to focus on efficiency improvement. Rallis has moved forward with new vigor to strengthen its sales and marketing through several effective operational steps. Rallis continues to focus towards strong, healthy and sustainable products with target to expand footprints in South East Asian and African countries. Consolidated Net Debt down to Rs 1,871 Cr from Rs 1,959 Cr compared to March 31, 2019.

R. Mukundan, Managing Director, Tata Chemicals Ltd. said, "The Company has posted a healthy growth on a consolidated basis across all business segments. In our Basic Chemistry Products Business, we will continue to be most cost-efficient Soda Ash, Bicarbonate and Salt business.”

“Our investment in a Bicarbonate unit in the United Kingdom using innovative carbon capture process and Mithapur plant expansion will provide significant thrust to our growth. We are also happy to have received the environment clearance for the expansion at our Mithapur plant,” said R. Mukundan.

“We will continue to focus on our nutritional science and material sciences business towards scale by strengthening the innovative funnel to ensure aggressive growth in the Specialty Products Business. With digital technology at the heart of our business operations, we seek to simplify and speed up operations and serve customers better,” he said.

The shares of Tata Chemicals traded at Rs. 568.00 apiece, high at 3.00 points or 0.53 per cent on the BSE.