Tata Chemicals Q3 Review - Specialty Business May Aid Performance Ahead: ICICI Direct  
Tata Chemicals Magadi facility (image: Company website)

Tata Chemicals Q3 Review - Specialty Business May Aid Performance Ahead: ICICI Direct  

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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.

ICICI Direct Report

Tata Chemicals Ltd. reported flat revenues to the tune of Rs 2606 crore against our estimate of Rs 2618 crore.

The basic chemical segment revenue was down 1% YoY to Rs 1987 crore while the same from speciality products was up 2% YoY to Rs 618 crore.

Higher growth from Magadi (up 30.5% YoY) along with India (up 7% YoY) and Europe (up 7% YoY) led growth in the basic chemical segment revenue. However, the same declined 14.9% YoY in the U.S. market.

Gross margins witnessed an improvement of 725 basis points QoQ to 79.6%, leading Ebitda to beat our estimates.

Click on the attachment to read the full report:

ICICI Direct Tata Chemical Q3FY21 Result Update.pdf

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