Tata Chemicals reports Rs 4,218cr revenue in Q1FY24 financial results

Tata Chemicals Limited, a prominent industry player, has released its financial data for the quarter ending June 30, 2023. The reported consolidated revenue from operations touched ₹ 4,218 Cr, marking a rise from ₹ 3,995 Cr during the same period the previous year.

Consolidated Financial Highlights

On a consolidated basis, the EBITDA is revealed to be ₹ 1,043 Cr, slightly up from last year’s ₹ 1,015 Cr for the same quarter. However, the Profit After Tax (PAT) from ongoing operations saw a dip, landing at ₹ 578 Cr, in comparison to the previous year’s ₹ 641 Cr. These figures indicate better revenue realizations, although partly offset by reduced volumes.

Standalone Performance Metrics

Delving into standalone figures for the quarter, the revenue amounted to ₹ 1,135 Cr, a drop from the prior year’s ₹ 1,225 Cr. Standalone PAT for this period is at ₹ 328 Cr, as opposed to ₹ 381 Cr during the same time the previous year.

Financial Position as of June 30, 2023

The company showcased a reduction in its consolidated gross debt, which now stands at ₹ 5,873 Cr, down from ₹ 6,296 Cr as of March 31, 2023. However, the cash and cash equivalents have declined to ₹ 1,544 Cr from ₹ 2,398 Cr over the same period.

CEO’s Take on the Performance

R. Mukundan, the Managing Director & CEO of Tata Chemicals Ltd., commented on the outcomes, stating, “The Company has delivered a satisfactory performance during Q1FY24… We expect that the sustainability trend will continue to positively impact the demand for newer applications like solar glass and lithium in the medium to long term.”

Additional Company Highlights

Rallis India, part of the Tata Chemicals conglomerate, recorded its consolidated revenues at ₹ 782 Cr for Q1FY24, seeing a 9% decrease from the previous year’s ₹ 863 Cr.