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Tata Chemicals on Monday reported an 81 per cent decline in consolidated net profit to Rs 60 crore for the quarter ended June on higher expenses. Its net profit stood at Rs 316 crore in the year-ago period. The company's total income rose to Rs 4,311 crore in the first quarter of this fiscal from Rs 3,815 crore in the corresponding period of the preceding year, according to a regulatory filing. Tata Chemicals, which is part of business conglomerate Tata Group, is a leading supplier to the glass, detergent, industrial and chemical sectors. The company has a strong presence in the crop protection business through its subsidiary company, Rallis India. Tata Chemicals has R&D facilities in Pune and Bangalore.
Tata Chemicals Ltd on Wednesday said it has raised Rs 1,500 crore through the allotment of non-convertible debentures (NCDs) on a private placement basis. The company has allotted 1,50,000 listed, unsecured, rated, redeemable, taxable, non-cumulative non-convertible debentures, having a face value of Rs 1 lakh each, for cash, it said in a regulatory filing. The NCDs have a tenure of two years and 364 days, and carry a fixed rate coupon of 7.06 per cent, Tata Chemicals said. The debentures have been issued to identified investors based on multiple yield allotment methods, it added. The NCDs will be listed on the Debt Segment of National Stock Exchange of India Limited (NSE). The allotment was approved by the internal committee constituted by the board of directors of the company, Tata Chemicals said. NCDs are debt instruments issued by companies to raise long-term funds. They are popular among investors seeking stable, fixed returns without equity exposure.
Tata Chemicals on Friday said its board has approved an investment of Rs 910 crore for expansions of manufacturing capacities of its plants at Mithapur in Gujarat and Cuddalore in Tamil Nadu. The board of directors of the company have, in a meeting held on Friday, approved an investment of Rs 135 crore towards the expansion of dense soda ash manufacturing capacity at its plant located at Mithapur, Tata Chemicals said in a regulatory filing. Further, the company stated that the board also approved an investment of Rs 775 crore to expand precipitated silica manufacturing capacity at its plant in Cuddalore, Tamil Nadu. Shares of the company closed at Rs 809.95 on Friday, down 1.09 per cent on BSE.