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ICICI Direct Report
Tata Chemicals Ltd.'s Q1 FY22 topline was marginally above but margins beat primarily due to lower-than-expected power and fuel and freight cost.
Reported revenue growth of 26.8% YoY to Rs 2977.2 crore, led by higher growth in the basic chemical segment across four units.
Gross margins expanded 330 basis points YoY to ~78.1% while Ebitda margin improved 490 bps YoY to 20.2 due to operating leverage.
Ebitda was up 67% YoY to Rs 601.2 crore.
Profit after tax was at Rs 288 crore against Rs 13.3 crore in Q1 FY21.
Tata Chemicals' growth was largely due to strong operational performance and higher share from joint venture.
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