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Motilal Oswal Report
Tata Chemicals Ltd.'s Q1 FY23 consolidated Ebitda beat our estimate, with a strong operating performance across geographies backed by robust growth in soda ash realisation.
Globally, demand for soda ash has been buoyant, with a favorable demand-supply scenario. All plants across the geographies have been running at optimum utilisation levels.
Factoring in the strong operating performance in Q1 FY23, we raise our FY23/FY24 Ebitda estimates of Tata Chemicals by 23%/11%, respectively.
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