Tata Chemicals Q4FY23 PAT up 62% at Rs709 crore on improved OPM in Basic Chemistry products

Tata Chemicals reported 26.60% growth in total sales revenues for the March 2023 quarter on consolidated basis at Rs4,407cr. On a sequential basis, the revenues were up 6.24%. In terms of verticals, the specialty products verticals saw revenues marginally higher at Rs589 crore. On the other hand, the basic chemistry products vertical saw sales grow by 31.7% at Rs3,822 crore in the fourth quarter on a yoy basis.

Even in terms of the operating performance, the profits were sharply higher in the basic chemistry products. The operating profits of this vertical were up 70% yoy at Rs876 crore. On the other hand, the specialty products business saw its operating losses widen from Rs24 crore in March 2022 quarter to Rs93 crore in the March 2023 quarter.

Financial highlights for Mar-23 compared yoy and sequentially

 Tata Chemicals    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 4,407

₹ 3,481

26.60%

₹ 4,148

6.24%

Operating Profit (Rs cr)

₹ 783

₹ 492

59.15%

₹ 757

3.43%

Net Profit (Rs cr)

₹ 709

₹ 438

61.87%

₹ 391

81.33%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 27.83

₹ 17.20

 

₹ 15.35

 

OPM

17.77%

14.13%

 

18.25%

 

Net Margins

16.09%

12.58%

 

9.43%

 

 

The net profit growth was largely driven by the improved operating performance of the basic chemistry products vertical. For FY23 overall, the cash from operations improved by 81% at Rs2,971 crore on the back of improved profit performance and less of funds locked in working capital assets like trade receivables and inventories. The dividend for the year has been declared at Rs17.50 per share.

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