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Tata Chemicals: Steady growth

Jan 27, 2003

Strong growth in revenues from the fertilizers business has helped Tata Chemicals Ltd post a robust topline growth of 18% for 3QFY03. However, a steep decline in operating margins has resulted in a 5% fall in operating profits.

(Rs m) 3QFY02 3QFY03 % change 9mFY02 9mFY03 % change
Net Sales 3,879 4,608 18.8% 10,663 12,621 18.4%
Other Income 54 227 318.9% 257 403 56.4%
Expenditure 2,649 3,441 29.9% 7,574 9,115 20.3%
Operating Profit (EBDIT) 1,230 1,167 -5.1% 3,088 3,506 13.5%
Operating Profit Margin (%) 31.7% 25.3%   29.0% 27.8%  
Interest (net) 306 201 -34.4% 925 708 -23.5%
Depreciation 328 341 4.0% 987 1,020 3.4%
Profit before Tax 650 852 31.0% 1,433.90 2,181 52.1%
Extraordinary Income/(expense) (36) (39) 9.2% (108) (109) 1.2%
Tax 154 258 67.8% 299 706 135.9%
Profit after Tax/(Loss) 461 555 20.4% 1,027 1,365 33.0%
Net profit margin (%) 11.9% 12.0%   9.6% 10.8%  
No. of Shares (m) 180.7 180.7   180.7 180.7  
Diluted Earnings per share* 10.2 12.3   7.6 10.1  
P/E (x)   4.8     5.9  
(*annualised)            

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