TATA CHEMICALS LIMITED Investors Communication
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Quarter and Year Ended
31 March 2024
1
Safe Harbour Statement
"This Presentation, except for the historical information, may contain statements, including the words or phrases such as 'expects,
anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should' and similar
expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise of Tata Chemicals Limited, its direct and indirect subsidiaries and its associates. Actual results might differ substantially or materially from those expressed or implied. Important factors that could make a difference to the Company's operations include, among others, economic conditions affecting demand / supply, price conditions in the domestic and overseas markets in which the Company operates, changes in Government policies and regulations, tax laws, and other statutes and incidental factors. You are urged to view all statements contained herein with caution. Tata Chemicals Limited does not undertake any obligation to update or revise forward look statements, whether as a result of new information, future events or otherwise."
2
Financial Highlights
Quarter and Year Ended 31 March 2024
3
Performance Highlights - Consolidated
Q4FY24
Revenue
₹ 3,475 Cr (CY) vs. ₹ 4,407 Cr (PY)
EBITDA
₹ 443 Cr (CY) vs. ₹ 965 Cr (PY)
PAT
₹ 145 Cr* (CY) vs. ₹ 694 Cr (PY)
12MFY24
Revenue
₹15,421 Cr (CY) vs. ₹16,789 Cr (PY)
EBITDA
₹ 2,847 Cr (CY) vs. ₹ 3,822 Cr (PY)
PAT
₹ 1,310* Cr (CY) vs. ₹ 2,452 Cr (PY)
• India demand for FY24 remained muted, however, demand in Q4 FY24 |
shown sign of recovery, boosted by detergent and chemical sectors. |
Flat and solar glass sectors had mixed demand, while container glass |
demand remained steady. |
• The European soda ash market remained under pressure due to muted |
demand. Flat glass demand in US also continues to be weak |
• The Company's performance during the year was muted as compared |
to previous year due to lower volumes and adverse price movement on |
account of market factors |
• Group has recognized, a non-cashwrite-down of assets aggregating to |
₹ 963 Cr in UK, which has been disclosed as an exceptional loss |
Gross Debt | ₹5,563 Cr | 733 | ₹6,296 Cr |
(Mar 24) | (Mar 23) | ||
Net Debt | ₹4,163 Cr | 265 | ₹3,898 Cr |
(Mar 24) | (Mar 23) | ||
• Proposed Dividend of ₹ 15 per share (subject to approval of |
shareholders at AGM) |
• In Rallis, while domestic demand had a positive bias, weak international |
demand impacted revenue growth. Profitability improved through |
pricing and cost management |
• Debt repayment on track, prepayment of $15 Mn in USA in Q4FY24 |
and $110 Mn during FY24 |
* PAT is before exceptional items and Non-Controlling interest ('NCI') | 4 |
Financial Snapshot for the Quarter Ended 31 March 2024
Consolidated | ₹ Crore
Revenue
EBITDA
Profit Before Tax (before
Profit After Tax (before
3,475
4,407
3,730
965
443 542
exceptional items)
686
167 262
exceptional items and NCI)
694
145194
Q4FY24 Q3FY24 Q4FY23
Revenue lower by ₹ 932 Crore (↓ 21%)
Q4FY24 Q3FY24 Q4FY23
EBITDA lower by ₹ 522 Crore (↓ 54%)
Q4FY24 Q3FY24 Q4FY23
PBT lower by ₹ 519 Crore (↓ 76%)
Q4FY24 Q3FY24 Q4FY23
PAT lower by ₹ 549 Crore (↓ 79%)
Standalone | ₹ Crore
Revenue | EBITDA | Profit Before Tax | Profit After Tax | |||||||||||||||||||||||||||||||||||
1,302 | ||||||||||||||||||||||||||||||||||||||
1,090 | 1,093 | |||||||||||||||||||||||||||||||||||||
259 | 249 | |||||||||||||||||||||||||||||||||||||
206 | 217 | 213 | ||||||||||||||||||||||||||||||||||||
197 | ||||||||||||||||||||||||||||||||||||||
192 | 140 | 115 | ||||||||||||||||||||||||||||||||||||
Q4FY24 | Q3FY24 | Q4FY23 | Q4FY24 | Q3FY24 | Q4FY23 | Q4FY24 | Q3FY24 | Q4FY23 | Q4FY24 | Q3FY24 | Q4FY23 | |||||||||||||||||||||||||||
Revenue lower by ₹ 212 Crore (↓ 16%) | EBITDA lower by ₹ 67 Crore (↓ 26%) | PBT lower by ₹ 52 Crore (↓ 21%) | PAT up by ₹ 4 Crore (↑ 2%) |
Note: Change is vs PY quarter | 5 |
PBT & PAT includes continuing operations, after share in JV & associates & before NCI | |
Financial Snapshot for the Year Ended 31 March 2024
Consolidated| ₹ Crore
Revenue | |
15,421 | 16,789 |
FY24 | FY23 |
EBITDA
2,847 | 3,822 |
FY24 | FY23 |
Profit Before Tax (before | Profit After Tax (before |
exceptional items) | exceptional items and NCI) |
2,740 | |||||||||||||||
2,452 | |||||||||||||||
1,691 | |||||||||||||||
1,310 | |||||||||||||||
FY24 | FY23 | FY24 | FY23 |
Revenue lower by ₹ 1,368 Crore (↓ 8%) | EBITDA lower by ₹ 975 Crore (↓ 26%) | PBT lower by ₹ 1,049 Crore (↓ 38%) | PAT lower by ₹ 1,142 Crore (↓ 47%) |
Standalone| ₹ Crore
Revenue | EBITDA | ||
4,930 | |||
4,384 | |||
875 | 1,235 | ||
FY24 | FY23 | FY24 | FY23 |
Revenue lower by ₹ 546 Crore (↓ 11%) | EBITDA lower by ₹ 360 Crore (↓ 29%) |
Profit Before Tax (before
exceptional items)
1,265 | ||||||||
914 | ||||||||
FY24 | FY23 |
PBT lower by ₹ 351 Crore (↓ 28%)
Profit After Tax (before
exceptional items)
7941,027
FY24FY23
PAT lower by ₹ 233 Crore (↓23%)
Note: PBT & PAT includes continuing operations, after share in JV & associates & before NCI | 6 |
Unit wise Profit & Loss
Statement of Profit and Loss for the quarter ended March 2024
Units | Consolidated | India | US | UK | Kenya | Rallis | ||||||||||||||||||||||||||||||||||||||||||||||
Rs Cr | Var vs | Var vs | Var vs | Var vs | Var vs | Var vs | ||||||||||||||||||||||||||||||||||||||||||||||
Q4FY24Q3FY24Q4FY23 | Q4FY24 | Q3FY24 | Q4FY23 | Q4FY24Q3FY24Q4FY23 | Q4FY24Q3FY24Q4FY23 | Q4FY24Q3FY24Q4FY23 | Q4FY24Q3FY24Q4FY23 | |||||||||||||||||||||||||||||||||||||||||||||
PY | PY | PY | PY | PY | PY | |||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 3,475 | 3,730 | 4,407 | (932) | 1,090 | 1,093 | 1,302 | (212) | 1,307 | 1,260 | 1,650 | (343) | 553 | 594 | 707 | (154) | 146 | 163 | 208 | (62) | 436 | 598 | 523 | (87) | ||||||||||||||||||||||||||||
EBITDA | 443 | 542 | 965 | (522) | 192 | 206 | 259 | (67) | 147 | 145 | 457 | (310) | 63 | 57 | 225 | (162) | 39 | 56 | 91 | (52) | 7 | 61 | (65) | 72 | ||||||||||||||||||||||||||||
Exceptional Items | (963) | - | - | (963) | - | - | - | - | - | - | - | - | (963) | - | - | (963) | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||
Share of JV income | 11 | 60 | 13 | (2) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||
PBT1 | 167 | 262 | 686 | (519) | 197 | 140 | 249 | (52) | 4 | 15 | 313 | (309) | (20) | (24) | 147 | (167) | 38 | 54 | 86 | (48) | (29) | 30 | (88) | 59 | ||||||||||||||||||||||||||||
PAT2 | 145 | 194 | 694 | (549) | 217 | 115 | 213 | 4 | 15 | 11 | 290 | (275) | (78) | (24) | 200 | (278) | 34 | 23 | 78 | (44) | (21) | 24 | (69) | 48 | ||||||||||||||||||||||||||||
PAT3 | (827) | 158 | 711 | (1,538) | ||||||||||||||||||||||||||||||||||||||||||||||||
Statement of Profit and Loss for the twelve months ended March 2024
Units | Consolidated | India | US | UK | Kenya | Rallis | ||||||||||||||
Rs Cr | CY | PY | Var | CY | PY | Var | CY | PY | Var | CY | PY | Var | CY | PY | Var | CY | PY | Var | ||
Revenues | 15,421 | 16,789 | (1,368) | 4,384 | 4,930 | (546) | 5,377 | 5,271 | 105 | 2,404 | 2,629 | (225) | 640 | 945 | (305) | 2,648 | 2,967 | (319) | ||
EBITDA | 2,847 | 3,822 | (975) | 875 | 1,235 | (360) | 1,087 | 1,269 | (182) | 347 | 615 | (268) | 211 | 468 | (257) | 312 | 219 | 93 | ||
Exceptional Items | (861) | - | (861) | 102 | - | 102 | - | - | - | (963) | - | (963) | - | - | - | - | - | - | ||
Share of JV income | 68 | (2) | 70 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
PBT1 | 1,691 | 2,740 | (1,049) | 914 | 1,265 | (351) | 545 | 750 | (205) | 29 | 382 | (353) | 201 | 439 | (238) | 196 | 128 | 68 | ||
PAT2 | 1,310 | 2,452 | (1,142) | 794 | 1,027 | (233) | 457 | 673 | (216) | (29) | 435 | (464) | 134 | 450 | (316) | 148 | 92 | 56 | ||
PAT3 | 282 | 2,335 | (2,053) |
Notes :
- Above financials are for Continuing Operations
- Consolidated financials is after adjusting SPV & other adjustments
- Rallis financials represent 100% share. Consolidated numbers is after adjustment of Rallis India's NCI.
1. | Before exceptional items and after JV share | 7 |
2. | Before exceptional items and NCI | |
3. | After exceptional items and NCI |
Balance Sheet as on March 2024
Consolidated (₹ Cr) | Standalone (₹ Cr) | |||
31-Mar-24 | 31-Mar-23 | 31-Mar-24 | 31-Mar-23 | |
Non - Current Assets | 30,389 | 26,920 | 19,047 | 14,906 |
Inventories | 2,524 | 2,532 | 939 | 1,203 |
Investments | 615 | 1,270 | 368 | 1,049 |
Trade Receivables | 1,900 | 2,627 | 232 | 201 |
Cash and Cash Equivalent | 645 | 665 | 52 | 85 |
Others Current Assets | 683 | 1,070 | 149 | 444 |
Total Assets | 36,756 | 35,084 | 20,787 | 17,888 |
Equity & Reserves | 22,241 | 19,721 | 18,725 | 15,992 |
Non - Controlling Interests | 873 | 921 | - | - |
Non-Current Liabilities | 4,298 | 3,861 | 908 | 543 |
Borrowings (Non-Current) / Lease Liabilities | 3,289 | 5,677 | 82 | - |
Borrowings (Current)/ Lease Liabilities | 2,274 | 619 | 33 | - |
Trade Payables | 2,369 | 2,597 | 562 | 698 |
Others Current Liabilities | 1,412 | 1,688 | 477 | 655 |
Total Equities and Liabilities | 36,756 | 35,084 | 20,787 | 17,888 |
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Sales Volumes | Key Products
Soda Ash| In Kts
India US - Domestic US - Export UK Kenya
Sodium Bicarbonate | in Kts
India UK
Salt | in Kts
India | UK | |
893
64
46
370
811
64
50
298
897
63
60
371
3,328
245
208
1,278
3,538
289
256
1,250
57
23
55
23
56
23
218
93
225
105
446 | 407 | 415 | 1,651 | 1,629 | ||||
75 | 83 | 75 | 307 | 323 |
371 | 324 | 340 | 1,344 | 1,306 |
256 | 231 | 237 | 956 | 1,097 | ||||||
34 | 32 | 33 | 125 | |||||||
120 | ||||||||||
157 | 168 | 166 | 641 | 646 | ||||||
Q4FY24 | Q3FY24 | Q4FY23 | FY24 | FY23 | ||||||
Q4FY24 | Q3FY24 | Q4FY23 | FY24 | FY23 |
Q4FY24 | Q3FY24 | Q4FY23 | FY24 | FY23 |
9
Production Volumes | Key Products
Soda Ash| In Kts
India US US - Export UK Kenya
Sodium Bicarbonate | in Kts
India UK
Salt | in Kts
India UK |
950
59
64
840
52
67
912
74
72
3,563
230
283
3,788
326
338
54
23
57
24
56
24
218
92
226
105
449 | 412 | 417 | 1,654 | 1,658 | ||||
79 | 82 | 81 | 299 | 336 |
646
181
520 | 565 | 2,297 | 2,325 |
201 | 201 | 753 | 799 |
31
33
32
126
121
370 | 330 | 336 | 1,355 | 1,322 |
Q4FY24 | Q3FY24 | Q4FY23 | FY24 | FY23 | Q4FY24 | Q3FY24 | Q4FY23 | FY24 | FY23 |
Q4FY24 | Q3FY24 | Q4FY23 | FY24 | FY23 |
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Disclaimer
Tata Chemicals Limited published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2024 13:41:07 UTC.
