Q2 2026 Tata Chemicals Ltd Earnings Call Transcript
Key Points
- Tata Chemicals Ltd (BOM:500770) reported a 19% increase in revenue from operations on a standalone basis, with EBITDA up 67% and profit after tax up 80%.
- The company has resolved a pending litigation in Kenya, with the Appeal Court ruling in their favor, which should positively impact future operations.
- The reconfiguration of the UK operations is complete, focusing on value-added non-cyclical products, with expectations to turn positive in the third quarter of the year.
- India operations performed well with higher volumes and operational efficiency, leading to increased sales volumes across all products.
- The company plans to increase Indian capacity by 50% in phases and is looking to add silicate capacity, indicating a strong growth trajectory.
- Global demand for key products is estimated to be flat in the near term, with specific weakness in China and Southeast Asia due to abundant supply.
- Soda ash market remains oversupplied with high inventory levels, particularly in China, leading to continued pressure on spot prices.
- Cash margins are under pressure, especially in China, where most production is at negative cash margin.
- The consolidated revenue was down marginally by 3% due to lower volume and realization, impacting EBITDA and profit after tax.
- There are ongoing geopolitical risks and tariff uncertainties, which have negatively impacted PV glass manufacturers in Malaysia and Vietnam.
Good evening, ladies and gentlemen and welcome to the Q2 and H1 FY26 earnings conference call of Tata Chemicals Limited. Please note that this conference is being recorded. (Operator Instructions)
We have with us today R. Mukundan, Managing Director and CEO; and Nandakumar Tirumalai, Chief Financial Officer of Tata Chemicals Limited. Before we begin, I would like to mention that some of the statements made in today's discussion may be forward-looking in nature and may involve risks and uncertainties.
I now invite Mukundan to begin proceedings of the call. Sir, you may proceed.
Thank you, [Davin]. Good evening, and welcome, everyone, to our Q2 H1 FY26 earnings call. I'll start the discussion a brief overview of industries and our operation highlights across business and geographies.
Overall, the global demand for all key products is estimated to be flat in the near term with stable demand in Europe. Africa and America and also
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