Motilal Oswal: Tata Chemicals - North America, India Drag Overall Q2 Performance
A gas flare at a Chevron Phillips Chemical Co. plant in Port Arthur, Texas, U.S. (Photographer: Luke Sharrett/Bloomberg)

Motilal Oswal: Tata Chemicals - North America, India Drag Overall Q2 Performance

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Tata Chemicals Ltd.’s operating performance was muted across geographies (barring Europe).

This was primarily led by North America and India, where Ebitda declined 48% and 40% respectively.

The Soda ash segment’s performance was impacted by reduction in demand from the end user industry (largely for flat and container glass).

Factoring in the miss to our estimates (due to one-time cost) and weak end-user industry demand scenario, we cut our Ebitda estimates by 6% for FY21 while maintaining it for FY22E.

Click on the attachment to read the full report:

Motilal Oswal Tata Chemicals Q2FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.