Tata Chemicals Announces Final Dividend Of Rs 15
The dividend will be paid within five days of the annual general meeting.
Tata Chemicals Ltd. has announced a final dividend of Rs 15 per equity share for fiscal 2024, pending approval from shareholders at the ensuing annual general meeting. The dividend will be paid within five days of the annual general meeting, the company announced through an exchange filing on Monday.
The company announced distribution of Rs 382 crore to unitholders in the fourth quarter of the previous fiscal.
It had paid a total dividend of Rs 17.50 in the previous financial year, while on July 15, 2022, it paid a dividend of Rs 12.50.
In the fourth quarter, Tata Chemicals reported a net loss of Rs 841 crore and a revenue decline of 2.15% at Rs 3,475 crore.
Tata Chemicals Q4 Results (Consolidated, YoY)
Revenue down 21.15% at Rs 3,475 crore vs Rs 4,407 crore (Bloomberg estimate: Rs 3,873 crore).
Ebitda down 54.09% at Rs 443 crore vs Rs 965 crore (Bloomberg estimate: Rs 519 crore).
Margin contracts 914 bps to 12.74% vs 21.89% (Bloomberg estimate: 13.4%).
Net loss at Rs 841 crore vs profit of Rs 692 crore (Bloomberg estimate: Rs 182 crore).
Fundraising
In addition to the results and the dividend, the board of directors also approved the proposal to raise Rs 2,000 crore through issuance of non-convertible debentures on a private placement basis.
The board on Monday also authorised an internal committee to take a decision regarding the fundraising and allotment of NCDs.
