Tata Chemicals Limited has informed the Exchange regarding Investor Presentation to be made to the Analysts.
^-.qt TATA
May 3, 2019
The Secretary, Listing Department BSE Limited Phiroze Jeejeebhoy Towers C/l Dalal Street Mumbai 400 001 Scrip Code: 500770
Dear Sir/Madam,
The Manager, Listing Department National Stock Exchange of lndia Ltd Exchange Plaza, 5th Floor, Plot No. G Block, Bandra-Kurla Complex Bandra (E) Mumbai 400 051 Svmbol: TATACHEM
Sub: Submission of Analvsts/lnvestors Presentation
Please find enclosed herewith the presentation to be made to analysts/investors on the results for the quarter and financial year ended March 31, 2019 for the analysts/investors call to be held on May 3, 2019.
The presentation is being submitted in compliance with Regulation 30(6) read with Schedule lll Part A Para A of the Securities and Exchange Board of lndia (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This is for your records.
Thanking you,
Yours faithfully,
Encl: As above
TATA CHEMICALS UM]TED Eorr$.y lbrr* 24 Homi lrody Stted Fort Mumbai 4OO 0Ol ra gt z: a66s a:gz Fax 91 22 6(65 811314 wuYv tata<hemkals'com CB{ : L24239ltaHl 939PICO02$3
Investors & Analyst Communication on Financial Results Q4 & year ended 31 March 2019
Dated: : 3 May 2019
1
Safe Harbour Statement
“This Presentation, except for the historical information, may contain statements, including the words
or phrases such as
‘expects, anticipates,
intends, will, would, undertakes, aims, estimates,
contemplates, seeks to, objective, goal, projects, should’ and similar expressions or variations of these
expressions or negatives of these terms indicating future performance or results, financial or otherwise
of Tata Chemicals Limited, its direct and indirect subsidiaries and its associates. Actual results might
differ substantially or materially from those expressed or implied. Important factors that could make a
difference to the Company’s operations include, among others, economic conditions affecting demand /
supply, price conditions in the domestic and overseas markets in which the Company operates, changes
in Government policies and regulations, tax laws, and other statutes and incidental factors. You are
urged to view all statements contained herein with caution. Tata Chemicals Limited does not undertake
any obligation to update or revise forward look statements, whether as a result of new information,
future events or otherwise”
2
Key Highlights
• Highest sales volumes of Tata Salt • Highest ever Operating Profit • Consummated
Sale of Phosphatic Fertiliser Business in June 2018
₋ ₋ Acquisition of Silica Business in June 2018
• Operating Working Capital at Standalone is all time low
Q4 FY19 Continuing Operations: • Revenues : Consolidated Rs. 2,759 Cr (↑8%), Standalone Rs 1,059 Cr (↑ 15%) • PAT : Consolidated Rs 450 Cr (↑ 26%), Standalone Rs 230 Cr (↑ 31%) YTD FY19 Continuing Operations: • Revenue : Consolidated Rs. 11,296 Cr (↑9%), Standalone Rs 4,081 Cr (↑ 16%) • PAT : Consolidated Rs 1,395 Cr (↓ 11%), Standalone Rs 918 Cr (↑ 47%)
• Consolidated Net Debt position is at Rs 1,959 Cr, Cash & Cash Equivalent Rs 4,184 Cr • Standalone Net Cash position is at Rs 2,521 Cr, Cash & Cash Equivalent Rs 3,229 Cr
The Company proposed dividend of Rs 12.5 per share (subject to approval of Shareholders at AGM)
3
Financial Performance: 3 months ended Mar19 (Q4 Mar - FY2019)
d e t a d
i l
o s n o C
l
e n o a d n a t S
Continuing Operations Only
20%
512
19%
531
16%
450
14%
356
2,759
2,555
Q4 Mar 18
Q4 Mar 19
Q4 Mar 18
Q4 Mar 19
Q4 Mar 18
Q4 Mar 19
Revenue
EBITDA
PAT
28%
257
25%
266
22%
230
19%
175
1,059
918
Q4 Mar 18
Q4 Mar 19
Q4 Mar 18
Q4 Mar 19
Q4 Mar 18
Q4 Mar 19
4
Financial Performance: 12 months ended Mar19 (YTD Mar - FY2019)
Continuing Operations Only
21%
2,191
19%
2,095
15%
1,560
12%
1,395
d e t a d
i l
o s n o C
l
e n o a d n a t S
11,296
10,345
YTD Mar 18
YTD Mar 19
YTD Mar 18
YTD Mar 19
YTD Mar 18
YTD Mar 19
Revenue
EBITDA
PAT
26%
922
25%
1,002
22%
918
18%
624
4,081
3,524
YTD Mar 18
YTD Mar 19
YTD Mar 18
YTD Mar 19
YTD Mar 18
YTD Mar 19
5
Financial Performance: Segment Information (Q4 Mar - FY2019)
Consolidated
Standalone
*Excludes Inter Segment Revenue of Rs 284 Cr (PY Rs. 186 Cr) & Unallocated Revenue of Rs 3 Cr (PY Rs 4 Cr)
*Excludes Inter Segment Revenue of Rs 281 Cr (PY Rs. 184 Cr) & Unallocated Revenue of Rs 1 Cr (PY Rs 4 Cr)
Q4 Mar 2018 (Rs Cr)
Q4 Mar 2019 (Rs Cr)
Q4 Mar 2018 (Rs Cr)
Q4 Mar 2019 (Rs Cr)
* s e u n e v e R
s t l u s e R
383
403
Rs 2,555 Cr
347
479
Rs 2,759 Cr
1,951
2,214
12
7
403
Rs 918 Cr
479
Rs 1,058 Cr
683
853
21
57
(9)
86
(3)
57
Rs 434 Cr
Rs 544 Cr
Rs 256 Cr
357
467
203
(6)
86
Rs 285 Cr
205
Basic Chemistry Products
Consumer Products
Specialty Products
6
Financial Position: Balance Sheet
Rs Cr
ASSETS Non - Current Assets Current Assets Inventories Trade Receivables Cash and Cash Equivalent* Others Current Assets Assets Classified as held for Sale Total Assets EQUITY AND LIABILITIES Equity & Reserves Non - Controlling Interests Non-Current Liabilities Borrowings (Non Current) Non-Current Liabilities Current Liabilities Borrowings (Current) Trade Payables Others Current Liabilities Liabilities associated with assets classified as held for Sale Total Equities and Liabilities
Consolidated
Standalone
31-Mar-18
31-Mar-19
31-Mar-18
31-Mar-19
16,839
18,807
8,484
1,462 1,308 4,575 597 1,098 25,879
11,102 2,717
5,394 2,962
140 1,479 1,535
550
1,726 1,453 4,204 717 - 26,905
12,341 2,915
4,783 2,917
352 1,475 2,121
-
451 140 3,769 244 1,086 14,174
11,324 -
681 300
1 425 893
550
9,528
628 185 3,247 410
- 13,998
11,796 -
13 304
1 569 1,315
-
25,879
26,905
14,174
13,998
* 31 Mar 2019 Standalone Cash and Cash Equivalent Includes other bank balances & Liquid Investments
7
Financial Update: Borrowing position
d e t a d
i l
o s n o C – t r a h c
l l
a f r e t a W
t b e D
l
e n o a d n a t S – t r a h c
l l
a f r e t a W
t b e D
614
339
6,418
6,143
4,184
Gross Debt Mar'18
Net Change
Revaluation
Gross Debt Mar'19
1,959
Net Debt
Cash & Cash Equivalents
1,407
777
78
708
Gross Debt Mar'18
Net Change
Revaluation
Gross Debt Mar'19
3,229
Cash & Cash Equivalents
2,521
Net Cash
8
Business Updates: Basic Chemistry Products
•
•
•
•
India business continues to perform as per expectation. Revenues stood
at Rs 853 Cr (up 25% vs PY), due to higher sales volumes in soda ash and
Sodium bicarbonate and better sales realization, which was partly offset
by higher power cost and plant fixed costs.
TATA Chemicals North America business is on the path of recovery.
Revenues stood at Rs 870 Cr (up by 6% vs PY), due to favorable sales
realization, which was partly offset by lower sales volumes. Margins
where impacted on account of higher distribution costs and other fixed
cost.
Q4 Segment Revenue & Results
Segment Revenue
Segment Results
1,951
2,214
357
467
Q4 Mar 18
Q4 Mar 19
TATA Chemicals Europe business was under pressure due to lower sales
volumes, partly off set by favorable sales realization. Revenues stood at
Update on the Mithapur expansion Plan
Rs 381 Cr (up by 4% vs PY). Margins where suppressed due to higher
Products
Proposed Capacity Increase
Status
energy cost and plant fixed costs.
TATA Chemicals Magadi business continues to focus on improving
operational efficiencies. Revenue stood at Rs 141 Cr (up 4% vs PY), due to
Salt
400,000 MT
Soda Ash
200,000 MT
higher sales realization. Margins were better due to lower fixed cost,
Bicarb
35,000 MT
which was partly off set by higher fuel cost.
Cement
300,000 MT
Ongoing as planned
9
Business Updates: Consumer Products
•
•
•
•
•
Salt Business continues to maintain its leadership position, with more
than 25% market share in edible salt market and approximately 65%
market share in branded salt market.
Revenues from Pulses and Spices platform grew by more than 100 %
during the period, with volumes doubling in both the category for the
same period.
Overall, Revenue from Consumer Products business stood at Rs 479 Cr
(up 19% vs PY), mainly due to higher sales volume across category and
controlled marketing investments during the period.
During the period under review, we have launched 2 major products i.e
TATA Sampann Dal-icious snacks with 3 different flavors i.e. Tomato,
Masala and Sasi Salsa. Currently, the product is under pilot launch in
Pune, for which we have received good customer feedback.
During the quarter, we also launched TATA Dx, detergent powder which
is our foray into Home care / non food segment. TATA Dx is also in pilot
stage in West Bengal. Initial responses for the products was very
encouraging, with few customers being repeat customers.
Q4 Segment Revenue & Results
Segment Revenue
Segment Results
403
57
479
86
Q4 Mar 18
Q4 Mar 19
New Product Launches *
10
Business Updates: Specialty Products
•
•
Under Specialty products, Nutritional solutions business had a
challenging quarter, as revenue where marginally impacted due to
lower sales volumes. Margins where also impacted due to higher fixed
costs primarily due to marketing overheads.
Rallis India also had a challenging quarter, as revenue stood at Rs 340
Cr ( down 9% vs PY), on account of lower sales volumes and sales
relisation. Margins where also impacted due to higher fixed cost and
higher import prices of materials.
Updates on the new projects
•
Nellore unit:
–
–
–
final stage of commissioning
Plan to have trial run during 3 quarter of FY20
Post statutory approval, expected to start commercial production as
planned.
•
Cuddalore unit (Allied Silica)
–
–
Completed initial trail run during the period.
Expect to start commercial production as scheduled.
Q4 Segment Revenue & Results
Segment Revenue
Segment Results
383
347
21
Q4 Mar 18
(9) Q4 Mar 19
Nellore Plan Layout
11
Business Updates: Subsidiary Financials
Q4 Mar – FY2019
Units
TCL India
US
UK
Africa
Rallis
Consolidated*
Rs Cr
PY
CY
PY
CY
PY
CY
PY
CY
PY
CY
PY
CY
Revenue
918
1,059
819
870
368
381
136
141
371
340
2,555
2,759
PBT
PAT
Units
Rs Cr
EBITDA
257
266
141
205
79
27
21
31
271
283
68
234
28
(30)
11
23
175
230
104
207
28
(15)
11
23
YTD Mar – FY2019
35
25
20
7
6
2
512
531
372
479
314
409
TCL India
US
UK
Africa
Rallis
Consolidated*
PY
CY
PY
CY
PY
CY
PY
CY
PY
CY
PY
CY
Revenue
3,524 4,081
3,257 3,382
1,436 1,449
481
506
1,809 1,984
10,345
11,296
EBITDA
922 1,002
688
678
218
105
PBT
PAT
904 1,220
439
454
59
(53)
624
918
527
308
59
(38)
82
38
38
59
21
21
265
241
2,191
2,095
227
220
1,571
1,643
168
155
1,291
1,164
* Include SPV and after consolidation adjustments - PBT is after exceptional items & Share of profit of Joint Ventures and PAT (after NCI) for Equity Shareholders YTD FY18 Includes Rs 247 Cr of TCNA groups deferred tax gain
12
Key Products: Production & Sales
Soda Ash Quantity (In Kts.)
Sodium Bicarbonate Quantity (In Kts.)
Branded Salt Quantity (In Kts)
TCL India
TCE
TCML
TCNA
TCL India
TCE
9 1 0 2 Y F - r a M 4 Q
9 1 0 2 Y F -
r a M D T Y
589
550
600
539
30
28
28
27
85 78
175
79 76
87 88
182
212
82 86
213
25
28
27
26
270
283
284
276
2,350
2,222
2,367
2,194
113
107
107
108
336 394 693
286 324 694
324 350
817
289 333
817
100
103
106
111
1,016
1,105
1,053
1,131
Mar-18 Mar-19 Mar-18 Mar-19
Mar-18 Mar-19 Mar-18 Mar-19
Mar-18 Mar-19 Mar-18 Mar-19
Sales
Production
Sales
Production
Sales
Production
13
Awards, Recognitions and Customer connect
s n o i t i n g o c e R & s d r a w A
t c e n n o C r e m o t s u C
Utsav Exhibition, Pune (Oct’18)
14
Other Financials Highlights
Trailing Quarters – Consolidated Revenue (Rs Cr) & PAT* Margin (%)
Earnings Per Share (Consolidated)
Revenue
Margin
14%
2,555
10%
2,744
14%
2,961
10%
2,832
16%
2,759
12.2
12.6
12.2
8.4
9.7
Q4 FY18
Q1 FY19
Q2 FY19
Q3 FY19
Q4 FY19
Q4 FY18
Q1 FY19
Q2 FY19
Q3 FY19
Q4 FY19
Shareholding Pattern as on 31 Mar 2019
Applicable Exchange Rate (Average)
Non institution , 21.42%
Promoter & Promoter Group, 30.63%
Institutions, 47.95%
*PAT before Non-controlling Interests for continuing operation Q3 FY19 PAT and EPS excludes exceptional
85.51
64.45
91.14
91.25
91.72
91.74
67.06
68.54
69.70
69.90
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
USD
GBP
15
16