Q1 FY2010-11 consolidated financial highlights
- Net sales at Rs2,477.1 crore, up 5.6 per cent.
- Profit from operations at Rs408.6 crore, up 13.2 per cent.
- PBT at Rs321.8 crore, up 131.3 per cent.
- PAT after minority interest at Rs215.9 crore, up 408.1 per cent.
- Soda ash demand growth continues with Indian market recording over five per cent growth in Q1.
- Sodium bicarbonate demand growth at over 3 per cent.
- Tata Salt sales up 9 per cent in Q1.
- Urea sales strong. Demand in target market zone robust.
- Tata Swach continues to be well received, new variants being introduced.
- Demand environment across geographies showing robust trends.
Tata Chemicals, a leading manufacturer of chemicals, fertilisers and food additives today announced it’s consolidated and standalone financial results for the quarter ended June 30, 2010. The company is the second-largest manufacturer of soda ash and the third-largest producer of sodium bicarbonate in the world, apart from being the leader in the Indian market. Tata Chemicals also enjoys leadership in the Indian edible salt market and is the most efficient manufacturer of urea fertiliser in the country.
Commenting on the company’s performance for Q1 FY2010-11, R Mukundan, managing director, Tata Chemicals, said:
“I am delighted to report a strong start to the current financial year. All our businesses have performed well. Domestic demand for soda ash is gradually improving and demand environment across the world is robust. However, we remain cautious in our outlook for the future. We are very encouraged by the strong performance of our consumer products business, in particular that of Swach which has been extremely well received.
Our efficiency programme ADAPT II while supporting our growth initiatives, is helping transform Tata Chemicals to a more agile and fitter organisation ready to leverage opportunities both in India and globally and to effectively counter possible threats and challenges.
I look forward to a strong and value-enhancing year.”
Year – on – year performance comparision
Q1 FY2010-11 (April 2010 – June 2010) v/s Q1 FY2009-10 (April 2009 – June 2009)
- Net sales at Rs2,477.1 crore compared to Rs2,344.7 crore in Q1 FY2009-10, an increase of 5.6 per cent.
- Profit from operations at Rs408.6 crore compared to Rs361.1 crore in Q1FY2009-10, an increase of 13.20 per cent.
- PBT stood at Rs321.8 crore, up 131.3 per cent from Rs139 crore in the corresponding period last year.
- PAT (after minority interest) increased by 408.1 per cent to Rs215.9 crore from Rs42.5 crore
- Robust domestic demand growth for soda ash at 5 per cent in Q1. Sodium bicarbonate demand growth at over 3 per cent.
- All round demand improvement seen.
- GCIP does well: Soda ash demand in North America as well as export markets continues to improve. All US plants fully sold out.
- Tata Chemicals remains the market leader with 60 per cent market share in the national branded segment.
- Tata Salt sales increase by 9 per cent in Q1.
- Tata Salt maintains number one position with market share of about 45.9 per cent.
- I-shakti market share is about 13.4 per cent of national branded category.
- I-shakti sales is growing at 20.6 per cent on a Y-o-Y basis.
- Tata Swach sales strong
- Two new variants of the product (Tata Swach Smart at Rs 749 and Tata Swach Smart Magic at Rs499) have been recently unveiled.
- Tata Swach is now available in Maharashtra, Karnataka, Delhi and other north Indian markets.
- Fertiliser demand continues to be stable in India.
- Fertiliser industry continues to lobby with government for allocation of gas for setting up fresh capacity as well as conversion of other fuel-based capacity to gas-based capacity.
- Strong growth in domestic business coupled with revival of international business leads to Rallis India (Rallis) posting 58 per cent growth in PAT at Rs15 crore for Q1 FY2010-11.
- Dahej project on schedule for commissioning during Q2 FY2010-11.
- Rallis has entered into an agreement with Syngenta to source Azoxystrobin for marketing in India under the Rallis brand. The objective is to cooperate with each other in the agrochemical market.