BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Tata Chemicals Ltd.'s consolidated profit after tax was a huge surprise based on the beat in U.S./India/Kenya revenues/margins and U.S. soda ash volume.
U.S. volume was a beat at 617,000 tonne versus estimate of 580,000 tonne, driven by healthy exports (up from 309,000 tonne to 323,000 tonne).
Ebitda margin was a 263 basis points beat, driven by higher pricing/margins in Kenya, India and U.S.
UK's positive Ebitda got eroded into a profit before tax loss due to a steep rise in the cost of carbon offset – up from £25-30/million tonne in March 2021 to £70/million tonne in March 2022.
Tata Chemicals expects heathy growth and pricing power in soda ash across all the regions, driven by a robust demand outlook (back to pre-pandemic volume) and no visible capacity addition over the next 18 months.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
