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Tata Chemicals Results: Latest Quarterly Results & Analysis

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Tata Chemicals Ltd. 03 Nov 2025 11:56 AM

Q2FY26 Quarterly Result Announced for Tata Chemicals Ltd.

Commodity Chemicals company Tata Chemicals announced Q2FY26 results

Q2FY26 Consolidated Financial Highlights:

  • Revenue from operations at Rs 3,877 crore, down by 3% compared to Q2FY25, due to reconfiguration of UK and subdued market conditions.
  • EBITDA at Rs 537 crore as compared to Rs 618 crore in Q2FY25, mainly on account of lower volume and lower realisation partially offset by better cost management.
  • Profit After Tax (before exceptional items and NCI) at Rs 219 crore compared to Rs 267 crore for Q2FY25.
  • Net debt as on September 30, 2025, stood at Rs 5,583 crore (excluding lease of Rs 776 crore).

Q2FY26 Standalone Financial Highlights:

  • Revenue from operations stood at Rs 1,204 crore, up by 19% compared to Q2FY25 due to higher volumes.
  • EBITDA at Rs 240 crore, up by 67% compared to Q2FY25, effect of cost control measures taken.
  • Profit After Tax from continuing operations was Rs 178 crore, up by 80% compared to Q2FY25.

Mukundan, Managing Director & CEO, Tata Chemicals, said: “Soda ash markets continue to be over supplied, with high inventory levels in most regions. Prices continued to weaken during Q2FY26. As demand - supply remains balances continues to be soft, we expect market to continue to remain range-bound in medium term.

Despite market headwinds caused by subdued pricing, company’s performance in standalone has been positive driven by higher volumes, overall performance is resilient driven by disciplined cost management. Reconfiguration of UK is complete with focus on value added non-cyclical products.”

Result PDF

Commodity Chemicals company Tata Chemicals announced Q1FY26 results

  • Revenue from operations at Rs 3,719 crore, down by 2% compared to Q1FY25, in light of cessation of Lostock operations.
  • EBITDA at Rs 649 crore as compared to Rs 574 crore in Q1FY25, mainly on account of lower costs.
  • Profit After Tax (before NCI) at Rs 316 crore compared to Rs 175 crore for Q1FY25.
  • Net debt as on June 30, 2025, stood at Rs 4,972 crore (excluding lease of Rs 760 crore).

Mukundan, Managing Director & CEO, Tata Chemicals, said: “Market conditions remain fluid with overall global demand estimated to be flat in near term, due to the uncertainty associated with trade tariffs.

Demand conditions are stable in India and China. In other regions, Asia (excluding China and India) and Americas (excluding USA) demand is robust. As demand - supply remains balanced, tariff uncertainties will continue to weigh on market, however, medium and long - term outlook remains positive driven by sustainability trends.

The company’s overall performance is resilient, driven by strong operating performance and disciplined cost management despite lower realizations mainly due to pricing pressure in all geographies.

We endeavor to Excel in operations through innovation, digitization and people.We continue our journey to Embed sustainability guided by Project Aalingana. Our focus to Expand the core and broadening the specialty portfolio, while being calibrated, will help us in revenue maximization, realization of new capacities and delivering on sustainable outcomes.”

Result PDF

Commodity Chemicals company Tata Chemicals announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from operations at Rs 3,509 crore, up by 1% compared to Q4FY24, pricing pressure continued in all geographies.
  • EBITDA at Rs 327 crore in Q4FY25 as compared to Rs 443 crore in Q4FY24, mainly on account of lower pricing.
  • Profit After Tax (before exceptional items and NCI) from continuing operations at Rs (12) crore compared to Rs 145 crore for Q4FY24.
  • Soda Ash unit in Lostock, UK ceased it’s operations from early February 2025, resulted in additional exceptional charge of Rs 55 crore.
  • Gross debt as on March 31, 2025, stood at Rs 7,072 crore (including lease of Rs 768 crore) up by Rs 1,509 crore on account of higher working capital loan in India, US & UK.

FY25 Financial Highlights:

  • Revenue at Rs 14,887 crore as compared to Rs 15,421 crore in FY24, higher volumes partially offsetting lower pricing.
  • EBITDA at Rs 1,953 crore as compared to Rs 2,847 crore in FY24 on account lower margins.
  • PAT (before exceptional items and NCI) from continuing operations at Rs 479 crore.
  • Exceptional charge of Rs 125 crore consisting of estimated expenses related to employee termination benefits, decommissioning of plant and machinery, and other closure-related incidental expenses, in relation to cessation of Soda ash production at the Lostock plant in Northwich, UK.
  • 230kT Soda Ash and 140kT Bicarb facility commissioned in India and 70kT Pharma Grade Salt capacity commissioned in UK.

R. Mukundan, Managing Director & CEO, Tata Chemicals, said: “Market conditions remain challenging even as India continues to grow while China, US and Western Europe are witnessing slight declines due to reduced demand for flat and container glass. In other regions, Asia (excluding China and India) and Americas (excluding USA) demand is robust, while slight decline is observed in demand of Africa. Though demand - supply balance softens, tariff uncertainties will continue to weigh on market, medium- and long-term outlook remains positive driven by sustainability trends.

The company’s overall performance is lower compared to Q4FY24, mainly due to pricing pressure in all geographies.

During the FY25, Company commissioned 230kT Soda Ash and 140kT Bicarb capacity in Mithapur, India. In a move to focus UK operations to high-grade value-added products 70kT pharma grade salt capacity was commissioned in Middlewich, UK.

Our endeavor is to Excel in operations through innovation, digitization and customer delight. We continue our journey to Embed sustainability guided by Project Aalingana. Our focus to Expand the core while being calibrated will also include broadening the portfolio.”

Result PDF

Commodity Chemicals company Tata Chemicals announced Q3FY25 results

Standalone Financial Highlights:

  • Revenue from operations stood at Rs 1,166 crore, up by 7% compared to Q3FY24.
  • EBITDA at Rs 209 crore, up by 1% compared to Q3FY24.
  • Profit After Tax from continuing operations was Rs 72 crore, down by 37% compared to Q3FY24.
  • FOS sales on track leading to full utilization of capacity.

Consolidated Financial Highlights:

  • Revenue from operations stood at Rs 3,590 crore, down by 4% compared to Q3FY24, mainly on account of adverse price movement of Soda Ash.
  • EBITDA for the quarter stood at Rs 434 crore, down by 20% compared to Q3FY24.
  • Profit After Tax (before exceptional items and NCI) from continuing operations was Rs 49 crore compared to Rs 194 crore for Q3FY24.
  • An exceptional charge of Rs 70 crore consisting of estimated expenses related to employee termination benefits, decommissioning of plant and machinery, and other closure-related incidental expenses was taken in Q3FY25, in relation to cessation of Soda ash production at the Lostock plant in Northwich, UK.
  • Gross debt as on December 31, 2024, stood at Rs 6,722 crore up by Rs 810 crore and net debt at Rs 5,329 crore up by Rs 952 crore, compared to December 31, 2023, on account of lower EBITDA and higher working capital (US, Kenya & India).
  • 70 KTPA Pharma Salt plant commissioned in UK.
  • Sales and Production volumes of Soda Ash, Bicarb and Salt were higher than Q3FY24.

Mukundan, Managing Director & CEO, Tata Chemicals, said: “Overall Asia including India continue to experience growth, while other markets including US and Western Europe are witnessing slight decline due to reduced demand for flat and container glass. Company’s overall performance was down as compared to the same quarter of previous year, mainly due to lower Soda Ash pricing across geographies and higher fixed cost in US due to plant production outage during the quarter.

Our endeavour is to maximize sales through customer engagement, while ensuring steady contribution margins with a focus on cost optimization. In the short term, current demand – supply adverse situation is likely to persist but should improve and stabilise over the long term driven by growth sectors based on sustainability trends.”

Result PDF

Commodity Chemicals company Tata Chemicals announced Q2FY25 results

Consolidated Highlights Q2FY25:

  • Consolidated Revenue from operations stood at Rs 3,999 crore as compared to Rs 3,789 crore for the previous quarter, up by 6%.
  • Consolidated EBITDA for the quarter stood at Rs 618 crore, up by 8% as compared to previous quarter, mainly on account of better margins in US, Kenya and Rallis.
  • Consolidated Profit After Tax (before exceptional items and NCI) from continuing operations was Rs 267 crore as compared to Rs 175 crore for the previous quarter.
  • Consolidated gross debt as on Q2FY25 stood at Rs 6,479 crore up by Rs 431 crore and net debt at Rs 5,190 crore up by Rs 843 crore, as compared to Q2FY24, on account of lower EBITDA, higher working capital (US, UK & India) and capitalisation of leases.

Standalone Highlights Q2FY25:

  • Standalone Revenue from operations stood at Rs 1,009 crore as compared to Rs 1,047 crore for the previous quarter.
  • Standalone Profit After Tax from continuing operations was Rs 99 crore as compared to Rs 256 crore for the previous quarter.
  • Unprecedented heavy rains impacted operations in Mithapur leading to lower production as compared to previous quarter.
  • 0.7 lacs MTPA Bi-carb expansion commissioned at Mithapur subject to Consent to Operate (‘CTO’) approval.
  • During the quarter, Company issued Non-Convertible Debentures (NCD’s) of Rs 1,700 crore @ 7.81% and repaid loans at overseas subsidiaries to that extent.
  • On the CSR front, Company keeps serving the society though various initiatives, the recent ones being signing of Memorandum of Understanding (MOU) with BAIF as a part of its drive towards sustainable agricultural solutions and rural development. Also, the company inaugurated a cloth vending machine at the Beyt Dwarka Temple to combat plastic waste encouraging eco-friendly alternatives and raising environmental awareness in the community.

R. Mukundan, Managing Director & CEO, Tata Chemicals, said: “Overall demand for soda ash, in India was stable, while some segments like container glass in Americas and Europe experienced muted demand. Unprecedented heavy rains in July and August impacted Mithapur operations leading to lower production as compared to the previous quarter, thus impacting margins. However, Company’s overall performance was better as compared to previous quarter due to higher sales volume, coupled with higher realization of soda ash. Our focus is on customer engagement and stable operations, while ensuring steady contribution margins with a focus on costs. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts.”

Result PDF

Commodity Chemicals company Tata Chemicals announced Q1FY25 results:

Consolidated: 

  • Consolidated Revenue from operations stood at Rs 3,789 crore as compared to Rs 3,475 crore for previous quarter.
  • Consolidated EBITDA for the quarter stood at Rs 574 crore, up by 30% as compared to previous quarter, mainly on account of Q1FY25 being a seasonal quarter for Rallis and better margins in India and the US.
  • Consolidated Profit After Tax (before exceptional items and NCI) from continuing operations was Rs 175 crore as compared to Rs 145 crore for previous quarter.
  • Consolidated gross debt as on June 30, 2024 stood at Rs 6,376 crore up by Rs 813 crore and net debt at Rs 4,789 crore up by Rs 626 crore, as compared to previous quarter, on account of higher working capital loans and capitalization of leases.

Standalone:

  • Standalone Revenue from operations stood at Rs 1,047 crore as compared to Rs 1,090 crore for previous quarter.
  • Standalone Profit After Tax from continuing operations was Rs 256 crore as compared to Rs 217 crore for previous quarter.
  • 2.30 lacs MTPA Soda Ash expansion commissioned at Mithapur.
  • 0.7 lacs MTPA Bi-carb expansion commissioned at Mithapur subject to Consent to Operate (‘CTO’) approval.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals, said, “Overall demand for soda ash was stable during the quarter on account of robust demand for flat glass, container glass and solar glass globally, while Europe experienced muted demand. China demand continued to be stable. The Company has delivered a satisfactory performance during Q1FY25 as compared to Q4FY24 on expected lines. The Company’s overall sales volume remained stable as compared to the previous quarter, with marginal improvement in price sequentially on account of market factors. Our focus is on customer engagement and agile response, while ensuring steady contribution margins with focus on costs. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts.”

Result PDF

Commodity Chemicals company Tata Chemicals announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

Standalone:

  • Standalone Revenue from operations stood at Rs 1,090 crore as compared to Rs 1,302 crore for corresponding quarter of last year.
  • Standalone Profit After Tax from continuing operations was Rs 217 crore as compared to Rs 213 crore for corresponding quarter of last year.
  • Highest salt production & sales were witnessed during the current quarter. However, Company witnessed lower soda ash volumes and prices and the future price trend is expected to be at same level.

Consolidated:

  • Consolidated Revenue from operations stood at Rs 3,475 crore as compared to Rs 4,407 crore for the corresponding quarter of last year.
  • Consolidated Profit After Tax (before exceptional items and NCI) from continuing operations was Rs 145 crore as compared to Rs 694 crore for corresponding quarter of last year.
  • Revenue and EBITDA were impacted due to lower volumes of soda ash and pricing pressure across all regions.

FY24 Financial Highlights:

Consolidated:

  • For the full year, the income from operations stood at Rs 15,421 crore as compared to Rs 16,789 crore in FY23.
  • EBITDA stood at Rs 2,847 crore as compared to Rs 3,822 crore in FY23.
  • PAT (before exceptional items and Non-Controlling Interest (‘NCI’)) stood at Rs 1,310 crore as compared to Rs 2,452 crore in FY23.

Standalone:

  • For the full year, the income stood at Rs 4,384 crore as compared to Rs 4,930 crore in FY23.
  • PAT stood at Rs 794 crore (before exceptional items) as compared to Rs 1,027 crore in FY23.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals Limited, said, “Overall demand for soda ash in India stayed stable during the quarter on account of rising demand from the detergent and chemical sectors. During the year, salt production & sales were at the highest level. The European soda ash market remained under pressure due to muted demand and margin pressure leading to one-time non-cash charge of Rs 963 crore in UK. The Company’s overall sales volume grew sequentially from the previous quarter, despite adverse price movement on account of market factors. We continue to focus on customer engagement and sustainable performance, whilst maintaining a prudent balance sheet.

Global demand is stable; however, market remains cautious due to ongoing geopolitical instabilities, pressure from Chinese real estate market, high interest rates and situation of oversupply. We expect sustainability trend will drive the demand for newer applications like solar glass and lithium which will fuel growth. Our focus is on timely execution of expansion projects and efficient cost management. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts.”

Result PDF

Tata Chemicals announced Q3FY24 results:

Consolidated Q3FY24:

  • Consolidated Revenue from operations stood at Rs 3,730 crore, compared to Rs 4,148 crore for the corresponding quarter of the previous year.
  • Consolidated Profit After Tax from continuing operations (pre-MI) was Rs 194 crore, down from Rs 432 crore for the corresponding quarter of the previous year.
  • Revenue for the quarter was affected by lower volumes of soda ash and pricing pressure in all regions.
  • EBITDA was impacted due to volume and price pressures across all regions.
  • The company’s gross debt as of December 31, 2023, reduced to Rs 5,912 crore.

Standalone Q3FY24:

  • Standalone Revenue from operations stood at Rs 1,093 crore, compared to Rs 1,218 crore for the corresponding quarter of the previous year.
  • Standalone Profit After Tax from continuing operations was Rs 115 crore, down from Rs 190 crore for the corresponding quarter of the previous year.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals, said, “The demand environment for soda ash in our domestic markets as well as international markets was challenging during the quarter. This was especially so in the container glass and flat glass sectors in Europe & Americas, which lead to a pressure on volumes and prices. Our endeavour is to continue to maintain our market share through customer engagement and have steady contribution margins with a focus on costs and higher value-added products. Our focus will also be to deliver capital investment projects on time, conserve cash, and continue to deleverage. In the short term, the current demand-supply situation is likely to persist but should improve and stabilise over the long term driven by growth sectors based on sustainability trends.”

 

Result PDF

Tata Chemicals announced Q2FY24 results:

  • Consolidated Q2FY24:
    • Revenue from operations stood at Rs 3,998 crore as compared to Rs 4,239 crore for Q2FY23.
    • Profit After Tax from continuing operations (pre-MI) was Rs 495 crore as compared to Rs 685 crore for Q2FY23.
    • Company’s gross debt as of September 30, 2023, reduced to Rs 6,048 crore.
    • Revenue for the quarter was down due to lower volumes of soda ash (except for India).
    • EBITDA was impacted due to price decreases in India & Kenya and lower volumes in USA, UK & Kenya.
    • Rallis India recorded consolidated revenues of Rs 833 crore for Q2FY24, a decrease of 12% as compared to Rs 951 crore for Q2FY23.
  • Standalone Q2FY24:
    • Standalone Revenue from operations stood at Rs 1,066 crore as compared to Rs 1,185 crore for Q2FY23.
    • Standalone Profit After Tax from continuing operations was Rs 236 crore as compared to Rs 243 crore for Q2FY23.
    • Demand for soda ash and bicarb is expected to remain stable over the medium term.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals, said, “The demand environment for soda ash in domestic markets in India and the US was stable. In other markets, softness was observed especially in container glass and flat glass sectors, leading to pricing pressure. The Company’s market share in key markets has remained relatively stable by staying close to the customers. We endeavor to continue to maintain our market share through customer engagement and have steady contribution margins with a focus on costs and higher value-added products. Our focus will also be to conserve cash and continue to deleverage. Looking beyond the short term, we expect the medium-term demand–supply situation to remain balanced driven by the sustainability trends, especially for applications like solar glass and lithium.”

 

Result PDF

Tata Chemicals announced Q1FY24 results:

  • Consolidated Q1FY24:
    • Revenue from operations stood at Rs 4,218 crore, up 6%, as compared to Rs 3,995 crore in Q1FY23
    • Profit After Tax from continuing operations (pre-MI) was Rs 578 crore, down by 10% as compared to Rs 641 crore for Q1FY23
    • Company’s gross debt as on June 30, 2023, reduced to Rs 5,873 crore
    • Rallis India recorded consolidated revenues of Rs 782 crore for Q1FY24, a decrease of 9% as compared to Rs 863 crore for Q1FY23.
  • Standalone Q1FY24:
    • Revenue from operations at Rs 1,135 crore, down by 7%, as compared to Rs 1,225 crore for Q1FY23
    • Profit After Tax from continuing operations was Rs 328 crore as compared to Rs 381 crore for Q1FY23

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals, said, “The Company has delivered a satisfactory performance during Q1FY24 as compared to Q1FY23 despite a challenging environment. The soda ash prices got adversely impacted as many customers delayed their purchasing decisions due to new supplies expected from Inner Mongolia, China. This was further impacted by slower growth in the Chinese economy post-COVID and softening of industrial production in developed economies and this may persist in the near term. The Company had to adopt agile pricing to maximize volumes and ensure optimum utilization of capacity. We expect that the sustainability trend will continue to positively impact the demand for newer applications like solar glass and lithium in the medium to long term. Our focus is to ensure that we maintain our market share through customer engagement and continued agile pricing, and to ensure steady contribution margins with a focus on costs”.

 

Result PDF

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