Tata Chemicals Limited · NSE:TATACHEM
Tata Chemicals — Q3 FY2021 Earnings Presentation
20 slides from Tata Chemicals's earnings presentation, Jan 28, 2021
Slide 1: Exchange submission letter for analysts/investors presentation
January 28, 2021 The General Manager The Manager, Listing Department Corporate Relations Department National Stock Exchange of India Ltd BSE Limited Exchange Plaza, 5th Floor, Plot No. Phiroze Jeejeebhoy Towers G Block, Bandra-Kurla Complex Dalal Street Bandra (E) Mumbai 400 001 Mumbai 400 051 Scrip
Slide 2: Q3 & 9 months ended FY20-21 Financial Results
Q3 & 9 months ended FY20-21 Financial Results Analyst and Shareholders Communication 28 th January 2021 1
Slide 3: “This Presentation, except for the historical information, may contain statements, including the words or
“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 thes
Slide 4: Q3 FY21 highlights
Soda Ash Volumes Consolidated Revenue Consolidated EBITDA Q3 FY 21 768 Kts Q3 FY 20 837 Kts ₹ 2,606 Cr ₹ 472 Cr (18% margin) IVSD Salt Volumes ↓ 0.7% (vs PY Q3) ↓ 0.3% (vs PY Q3) Q3 FY 21 319 Kts ↓ 0.1% (vs CY Q2) ↑ 22% (vs CY Q2) Q3 FY 20 271 Kts Operational Cash Conversion remained at ₹ 379 Cr for
Slide 5: Q3 Standalone and Consolidated results
Standalone | ₹ Crore 812 EBITDA EBITDA margin Operational PBT Non Operational PBT Profit After Tax PAT margins 759 717 30% 100 % 20% 240 240 18% 19% 26% 90% 18% 25% 220 220 80% 16% 200 22% 20% 70% 188 166 148 200 14% 14% 60% 12% 180 180 16% 35 26 15% 50% 10% 160 160 40% 8% 140 195 10% 103 140 175 30
Slide 6: Year to date Standalone and Consolidated results
Standalone | ₹ Crore 2,186 2,158 EBITDA EBITDA margin Operational PBT Non Operational PBT Profit After Tax PAT margins 700 30% 600 30% 600 26% 25% 500 25% 25% 500 21% 20% 692 456 400 20% 400 17% 554 15% 300 15% 300 578 262 167 200 447 10% 200 360 10% 100 5% 430 289 100 5% - 0% - 0% YTD Dec19 YTD Dec
Slide 7: Cash conversion and operational working capital
Cash Conversion Q2 FY21 Q3 FY21 9m FY21 Operational Working Capital Mar-20 Sept-20 Dec-20 EBITDA 386 472 1218 Inventories 1,869 1,631 1,594 Consolidated Operation Working Capital Δ 199 (93) 406 Receivables 1,580 1,314 1,351 Payables (1,631) (1,626) (1,533) Cash Conversion 585 379 1,625 Operational W
Slide 8: Segment Revenue and Results
Consolidated Standalone ₹ Crore Q3 Dec19 Q3 Dec20 Variance Q3 Dec19 Q3 Dec20 Variance Basic Chemistry Products 2,010 1,987 (23) 729 765 35 Segment Revenue Specialty Products 604 618 14 21 47 26 Less: Inter Segment Revenue (3) (4) - - - - 2,611 2,601 (9) 750 812 62 Unallocated Revenue 13 5 (7) 9 0 (9
Slide 9: Revenue, EBITDA and PAT quarterly trend
3,00 0 2,584 2,771 2,623 2,378 2,348 2,609 2,606 2,50 0 Revenue 2,00 0 1,50 0 1,00 0 500 - Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 20% 20% 18% 18% 17% 100 0 25% 900 15% 15% 561 EBITDA & 515 800 20% 473 472 Margin 700 600 500 400 360 386 15% 400 10% 300 200 5% 100 0 0% Q1 FY20 Q2 FY20
Slide 10: Soda ash volumes by region
400 1,20 0 • Higher demand for soda ash in the India North America | In Kts 350 1,00 0 300 570 571 Operations. 168 800 541 India | In Kts 250 163 154 158 151 475 475 389 • UK and Magadi operation 200 600 118 150 253 295 276 100 400 139 197 181 had good third quarter 200 288 275 294 278 295 with high
Slide 11: Revenue Movement
Revenue Movement | ₹ Crore 3,00 0 → India Operation had a healthy volumes growth across product portfolio. 2,90 0 → US had a challenging third quarter. We could see 2,80 0 good traction coming from domestic market, 2,70 0 26 which is partly offset by lower volumes in export 35 36 35 130 2,60 0 25 ma
Slide 12: PBT Standalone and Consolidated Movement
PBT Standalone Movement | ₹ Crore → Standalone Other Income Breakup 600 Details Q3 FY20 Q3 FY21 500 Dividend Income from JV & Sub - - 400 Miscellaneous & Interest Income 35 26 35 26 300 200 35 18 13 100 188 153 122 → Overall margin was impacted due to lower sales realisation - PBT Q3 FY20 Other Inco
Slide 13: Consolidated Debt Position
Consolidated Debt Position | ₹ Crore 795 45 7,702 3,118 6,862 3,743 Gross Debt Mar20 Net Change Revaluation Gross Debt Dec20 Cash & Cash Net Debt Equivalents • Consolidated Cash and Cash Equivalent as on 31st December 2020 is ₹ 3,118 Cr (vs ₹ 3,660 Cr as on Mar20) Details • Standalone continues to b
Slide 14: Basic Chemistry Products Key Highlights
Key Highlights Segment Revenue at ₹ 1,987 Cr (down by 1%) | • Revenue at ₹ 765 Cr (up 5%), operating margins were subdued at ₹ 180 Cr (margin 24%), Segment results at ₹ 298 Cr (down by 9%) down from ₹ 213 Cr (margin 29%) vs PY. India • Healthy volumes in Soda Ash, Salt, Cement, were partly offset by
Slide 15: Specialty Products Key Highlights
Key Highlights Segment Revenue at ₹ 618 Cr (up by 2%) | Segment results at ₹ 38 Cr (down by 4%) Specialty • Specialty products (Standalone) business had encouraging quarter. Overall Revenue Products increased to ₹ 47 Cr (up by 124%), due to higher volumes across products portfolio. Nutritional • Ove
Slide 16: Statement of Profit and Loss for the quarter ended December 2020
Statement of Profit and Loss for the quarter ended December 2020 Units TCL India US UK Africa Rallis Consolidated ₹ Crore PY CY PY CY PY CY PY CY PY CY PY CY Net Income 759 812 872 742 348 374 82 107 534 570 2,623 2,606 EBITDA 195 175 183 158 43 45 (9) 26 56 63 473 472 PBT 188 148 79 35 8 2 (20) 18
Slide 17: Sales and production volumes
Soda Ash | In Kts Sodium Bicarbonate | in Kts Edible Salt* | in Kts TCL India TCNA TCE TCM TCL India TCE For the Quarter 40 56 63 70 70 70 94 97 27 28 29 34 569 474 587 496 319 322 271 264 29 30 31 33 158 168 208 214 Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20 Dec-19 Dec-20
Slide 18: Mithapur Expansion Plan
Mithapur Expansion Plan Product wise revised Implementation and Commissioning Schedule FY24 & FY20 FY21 FY22 FY23 Products Beyond Vacume Salt In Lac MT , 23% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Total Utilities , 32% ₹ 2,400 Cr Soda Ash 0.20 0.25 1.83 2.28 Caustic , Soda Ash , 13% 26% Vaccum Salt
Slide 19: Revenues, PAT, EPS, shareholding and exchange rates
Revenues | ₹ Crore & PAT | In % Earnings Price Per Share | In ₹ 3,50 0 25% 7.3 6.6 6.3 3,00 0 2,623 2,609 2,606 20% 2,50 0 2,378 2,348 15% 2,00 0 1,50 0 10% 2.8 1,00 0 8% 8% 8% 5% 5% 500 3% 0.5 - 0% Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Shareholding Pattern | In % Exc
Slide 20: Advancing Science. Creating Value.
TATA CHEMICALS TATA Advancing Science. Creating Value. For any question/queries please contact & John Mulhall 3 jmulhall@tatachemcals.com & +91 22 6665 8282 & Sameer Kulkarni BS sakulkarni@tatachemicals.com & +91 22 6665 7942 & Gavin Desa &s gavin@cdr-india.com & +91 22 6645 1237 & Suraj Digawalekar