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Tata Chemicals Ltd

| Quarterly Financial Results Q3 FY 2025-26

NEUTRAL SENTIMENT

Report Source

⬤2nd Feb 26

Summary : Tata Chemicals approved Q3 and 9M FY26 financial results, with an unmodified audit opinion, showing a quarterly loss due to exceptional items but positive nine-month performance.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated total expenses Q3 FY26: 3,644 Cr
  2. Consolidated total expenses 9M FY26: 10,910 Cr
  3. Standalone total expenses Q3 FY26: 1,133 Cr
  4. Standalone total expenses 9M FY26: 3,297 Cr
  5. Consolidated revenue from operations Q3 FY26: 3,550 Cr
  6. Consolidated revenue from operations 9M FY26: 11,146 Cr
  7. Standalone revenue from operations Q3 FY26: 1,204 Cr
  8. Standalone revenue from operations 9M FY26: 3,577 Cr
  9. Consolidated total assets Q3 FY26: 40,171 Cr
  10. Consolidated total liabilities Q3 FY26: 15,981 Cr
  11. Standalone total assets Q3 FY26: 25,632 Cr
  12. Standalone total liabilities Q3 FY26: 5,942 Cr
  13. Both consolidated and standalone results reviewed
  14. Consolidated Q3 FY26 net loss: (69) Cr
  15. Standalone Q3 FY26 net profit: 73 Cr

Corporate Overview

  1. Global operations (e.g., North America, Europe, Africa, India)
  2. UK Lostock plant closure
  3. Sustained financial underperformance of Lostock plant
  4. Impact of new Labour Codes on gratuity liability
  5. Basic chemistry products
  6. Specialty products

Risk Factors

  1. Subsidiary plant closure due to underperformance.
  2. New Labour Codes impact gratuity liability.
  3. Increased tax rates on capital gains.
  4. Unreviewed associate and JV financials.

Key Drivers

  1. Board approved Q3 and 9M results.
  2. Auditors issued unmodified opinion.
  3. Positive nine-month financial performance.
  4. Results available on company website.

Auditor’s Report

  1. Unmodified conclusion on financial results

Board Commentary

  1. Impact of new Labour Codes on gratuity liability
  2. Remeasurement of deferred tax liabilities due to tax rate increase
  3. Government of India notified four Labour Codes
  4. Increase in tax rates on certain assets

Corporate Governance

  1. Auditors complied with Code of Ethics
  2. Auditors are independent of the Company
  3. Audit Committee reviewed financial results

Management Discussion & Analysis

Risk Control Measures

  1. Monitoring finalization of Labour Code rules

Critical Risks

  1. Financial impact from new Labour Codes
  2. Increased tax rates on long-term capital gains