Tata Chemicals Q4 PAT climbs 48% YoY to Rs 694 cr

Revenue from operations grew by 26.6% year on year to Rs 4,407 crore in the quarter ended 31 March 2023. The company said that it reported higher revenue on account of better realizations and stable demand.

Consolidated profit before tax (from continuing operations) stood at Rs 684 crore in Q4 FY23, registering a growth of 40.2% from Rs 488 crore recorded in the same period last year.

EBITDA climbed 46.88% to Rs 965 crore in the fourth quarter of FY23 as against Rs 657 crore reported in Q4 FY22. The rise in the EBITDA was mainly driven by higher realizations in all geographies. EBITDA margin improved to 22% in Q4 FY23 as compared to 19% registered in Q4 FY22.

The company's revenue form Basic Chemistry Products was at Rs 3,822 crore (up 31.66% YoY) and that from Specialty Products stood at Rs 589 crore (up 4.43% YoY), during the period under review.

The company said that the soda ash realisations stable across geographies and the cost environment is stabilizing.

Rallis India, its subsidiary recorded consolidated revenues of Rs 523 crore for the quarter ended 31 March 2023, an increase of 3% as compared to Rs 508 crore reported in the corresponding quarter of last year.

On full year basis, the compnay's consolidated net profit (from continuing operations) soared 75.14% to Rs 2,452 crore on 33.01% rise in revenue to Rs 16,789 crore in FY23 over FY22.

Tata Chemicals said that the improved operating performance across geographies reflects higher realisations as compared to FY2022 and efficient cost management.

Consolidated gross debt dropped to Rs 6,296 crore as on 31 March 2023 as compared to Rs 7,024 crore as on 31 March 2022. Also, cash & cash equivalents stood at Rs 2,398 crore as on 31 March 2023 as against Rs 2,792 crore recorded in the same period a year ago.

R. Mukundan, managing director & CEO, Tata Chemicals, said, ?The company has delivered an improved performance during FY2023 as compared to FY2022 across all parameters. The global demand-supply situation is expected to remain balanced over the medium term. We expect sustainability trend will drive the demand for newer applications like solar glass and lithium which will fuel growth. Our focus is on timely execution of expansion projects and efficient cost management. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts?.

Meanwhile, the company's board has recommended a dividend of Rs 17.50 per share for the financial year 2022-23, subject to the approval of the shareholders.

Tata Chemicals is the world's third-largest producer of soda ash, with a global capacity of 4.137 million tonnes per annum, or 4.353 million tonnes including sodium bicarbonate, and manufacturing operations spread across India, the US, UK and Kenya.

Shares of Tata Chemicals declined 1.35% to Rs 978.65 on the BSE.

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