Tata Chemicals Limited declared its financial results for the quarter and full year ended March 31, 2023. On a consolidated basis, for the full year, the income from operations stood at Rs. 16,789 crore, up by 33 per cent as compared to Rs. 12,622 crore in FY2022. PAT on a consolidated basis stood at Rs. 2,452 crore, up by 75 per cent,  as compared to Rs. 1,400 crore in FY2022. The improved operating performance across geographies reflects higher realisations as compared to FY2022 and efficient cost management.

For the quarter ended March 31, 2023, Tata Chemicals reported income from operations on consolidated basis at Rs. 4,407 crore, up by 27 per cent as compared to Rs. 3,481 crore for the corresponding quarter of last year. Consolidated PAT from continuing operations for the quarter was at Rs. 694 crore up by 48 per cent as compared to Rs. 470 crore for the corresponding quarter of last year.

On a standalone basis, for the full year, the income stood at Rs. 4,930 crore, up by 32 per cent as compared to Rs. 3,721 crore  in FY2022. PAT on a standalone basis stood at Rs. 1,027 crore, up by 30%, as compared to Rs. 787 crore in FY2022.

For the quarter, on a standalone basis, the income from operations rose by 17 per cent to Rs. ,302 crore, as compared to Rs. 1,115 crore for the corresponding quarter of last year. PAT on standalone basis stood at Rs. 213 crore compared to Rs. 269 crore for the corresponding quarter of last year.

Consolidated Gross Debt dropped to Rs. 6,296 crore, as compared to Rs. 7,024 crore as on 31 March 2022. Also, cash & cash equivalents stood at Rs. 2,398 crore, as compared to Rs. 2,792 crore as on 31 March 2022.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “The Company has delivered an improved performance during FY2023 as compared to FY2022 across all parameters. The global demand-supply situation is expected to remain balanced over the medium term. We expect sustainability trend will drive the demand for newer applications like solar glass and lithium which will fuel growth. Our focus is on timely execution of expansion projects and efficient cost management. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts”.