ICICI Direct: Tata Chemicals’ Q1 Revenue Dragged By Poor Soda Ash Sales Volume In U.S. And Magadi

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Tata Chemicals Ltd. reported a fall in revenue of 9% YoY to Rs 2348 crore, largely dragged by poor soda ash sales volumes from U.S. and Magadi regions.Basic chemical revenue from the U.S. fell 26.7% YoY to Rs 619 crore while the same from Magadi remained at Rs 100 crore (down 20.6% YoY). Revenue from India fell 5.1% YoY to Rs 637.3 crore, largely assisted by a change in the product mix towards high value products.The realisation growth from India business was at 29.8% YoY to Rs 45,850 per tonne. The basic chemical revenue from the Europe region was up 2.9% YoY to Rs 316 crore.Lower gross margins (down 771 basis points YoY) dragged operating profit margin, which contracted 461 basis points YoY to 15.3% leading to Ebitda de-growth of 30% YoY to Rs 360 crore.In terms of geography-wise break up in the basic chemical segment, operating profit margin for India fell 184 basis points YoY to 27.7% while North America and Magadi fell 1,671 basis points YoY and 587 basis points YoY to 5.7% and 10%, respectively.On the other hand, Europe margins rose 300 basis points YoY to 8.9%. Profit after tax was down 91% YoY to Rs 13.3 crore, impacted by subdued operational performance and lower other income (down 32% YoY), higher finance cost (up 25% YoY) and depreciation (up 17% YoY)..Click on the attachment to read the full report:.DISCLAIMERThis 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 brokerage 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.

ICICI Direct: Tata Chemicals’ Q1 Revenue Dragged By Poor Soda Ash Sales Volume In U.S. And Magadi

ICICI Direct: Tata Chemicals’ Q1 Revenue Dragged By Poor Soda Ash Sales Volume In U.S. And Magadi

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