Consolidated Net Profit from continuing operations stood at INR 437 crore, standalone Profit from continuing operations stood at INR 294 crore.
Tata Chemicals Group (the “Company”) today declared its Consolidated Financial Results for the second quarter ended 30 September, 2019. The Company reported income from operations on consolidated basis at INR3084 Cr, up by 4% and INR 1021 Cr, up by 1% on a standalone basis against the same quarter last year.
The Company’s results by reporting segment showed income from operations for Basic Chemistry Products stood at INR 2052 Cr, up by 1%; Specialty Products INR 760 Cr, up by 14% and Consumer Products segment at INR 513 Cr, up by 12%.
Standalone Q2 FY19-20 Highlights:
• State of the art manufacturing facility in Nellore for Nutritional Solutions is commissioned
o Trial production is underway for production of FOS, a Prebiotic dietary fibre
• Highly Dispersible Silica trial production at the Cuddalore facility received an encouraging customer response
o Commercial production to commence in Q4 FY1920
• Secured land in Gujarat to set up manufacturing facility for Energy Sciences Business
o The company signed an MOU with ISRO for Lithium-Ion Cell Technology
o Launched Li-Ion battery recycling operations
• Consumer business continues to perform well and witnessed growth of 12% over the previous quarter
Consolidated Q2 FY19-20 Highlights:
• TCML continues to be on the growth path with higher volumes and lower input costs
TCE continues to focus on efficiency improvement
• TCNA operations are steady with increased sales volumes
• Rallis India’s revenue grew by 14% due to higher volumes and better realization from international business and Metahelix
• Consolidated Net Debt is at INR 2256 Cr as on 30 September 2019
R. Mukundan, Managing Director and CEO of Tata Chemicals Ltd., said “We are pleased to share an overall goodperformance across all business verticals. The Basic Chemistry Products business continues to register a healthy performance, due to operational efficiencies and better realisation. In the Specialty products segment, the company’s state of the art manufacturing facility in Nellore for Nutritional Solutions isundergoing trial productions for production of FOS, a Prebiotic dietary fibre.Similarly, trial production is on at our Cuddalore facilityand commercial production of HDS is scheduled in Q4FY1920. Both the projects are on track and progressing smoothly. Our pilot plant forLi-ion battery recyclinghas been operational and our goal is to scale up operations to recycle 500 tons of spent Li-ion batteries. The company will continue tofocus on leveraging “science” as a key differentiator with an objective to strengthen the Basic Chemistry business while aggressively growing the Specialty Products business. We aim to accomplish this through relentless Operational Excellence; continued focus on Customer Centricity, Innovation and Digitisation with our strong commitment toward Sustainability and developing Engaging Relationships with all our stakeholders.”