Tata Chemicals slips after Q4 net loss

The result was announced after market hours on Monday, 27 May 2013.

Meanwhile, the S&P BSE Sensex was up 45.70 points, or 0.23%, to 20,076.47.

On BSE, 24,000 shares were traded in the counter as against an average daily volume of 51,381 shares in the past one quarter.

The stock hit a high of Rs 303.60 and a low of Rs 298.55 so far during the day. The stock had hit a 52-week high of Rs 381.50 on 9 January 2013. The stock had hit a 52-week low of Rs 299 on 8 August 2012.

The stock had underperformed the market over the past one month till 27 May 2013, sliding 4.23% compared with the Sensex's 3.86% rise. The scrip had also underperformed the market in past one quarter, falling 8.01% as against Sensex's 4.59% rise.

The mid-cap company has an equity capital of Rs 254.76 crore. Face value per share is Rs 10.

On a consolidated basis, net sales fell 1.1% to Rs 3361.77 crore in Q4 March 2013 over Q4 March 2012.

On a consolidated basis, Tata Chemicals' net profit fell 52.2% to Rs 400.40 crore on 7.8% increase in net sales to Rs 14718.63 crore in the year ended March 2013 over the year ended March 2012.

Commenting on the company's Q4 March 2013 performance, Mr. R Mukundan, Managing Director said: "Overall for the year the domestic chemicals and consumer business registered a 36% of earnings before interest & tax (EBIT) growth whereas fertilizer's had a 20% fall in EBIT. Overall the company registered a growth of 15% in EBIT across segments. With continued softness in fertilizer segment, we expect a muted performance even though there is a positive tail wind from expectations of a normal monsoon as announced by the weather bureau."

"On consolidated basis, results were impacted due to impairment charge of Rs 484 crore, which led to a 52% fall in consolidated annual profit. We expect times to be challenging both domestically and internationally and this coupled with liquidity crunch due to delayed payment of subsidy continues to drag the company's performance. On strategic front, we continue to focus on specialty and consumer business and the implementation of the Nutraceuticals plant in Chennai is on schedule," Mr Mukundan added.

The board of Tata Chemicals recommended a dividend of Rs 10 per share for the year ended March 2013.

Tata Chemicals is a global company with interests in businesses that focus on LIFE living, industrial and farm essentials. Tata Chemicals is the pioneer and market leader in India's branded iodised salt segment. With the introduction of an innovative, low-cost, nanotechnology based water purifier; it is providing affordable, safe drinking water to the masses. Extending its portfolio from salt to other food essentials, TCL unveiled India's first national brand of pulses in 2010. The company's industry essentials product range provides key ingredients to some of the world's largest manufacturers of glass, detergents and other industrial products. Tata Chemicals, currently is the world's second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America.

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