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Tata Chemicals (TATACHEM) investor relations material

Tata Chemicals Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary3 Nov, 2025

Executive summary

  • Global demand for key products remains flat in the near term, with robust demand in India and Asia (excluding China), but weakness in China and Southeast Asia due to oversupply and high inventories.

  • Medium- to long-term outlook is positive, driven by solar PV and EV growth, despite short-term margin challenges and ongoing geopolitical and tariff risks.

  • Board approved unaudited consolidated and audited standalone financial results for Q2 and H1 FY2026, with results published and available online.

  • Board approved fund raising via non-convertible debentures (NCDs) up to ₹1,500 crore on a private placement basis.

  • Higher sales volumes in India were offset by lower realizations across all geographies, impacting profitability.

Financial highlights

  • Standalone revenue from operations increased 19% year-over-year; EBITDA rose 67%; profit after tax up 80%.

  • Consolidated revenue for Q2 FY2026 was ₹3,877 crore, down from ₹3,999 crore in Q2 FY2025; H1 FY2026 revenue was ₹7,596 crore, down from ₹7,788 crore in H1 FY2025.

  • Q2 FY2026 EBITDA margin was 14%, down from 15% in Q2 FY25; PAT margin was 6%, compared to 7% in Q2 FY25.

  • Net profit for Q2 FY2026 stood at ₹154 crore, compared to ₹267 crore in Q2 FY2025.

  • Net debt increased to ₹5,583 crore as of Sep 2025 from ₹4,884 crore in Mar 2025.

Outlook and guidance

  • Soda ash prices expected to remain subdued and range-bound for the rest of the year due to oversupply and high Chinese inventories.

  • U.K. operations expected to turn positive in Q3 and Q4 as reconfiguration completes and focus shifts to value-added products.

  • Indian margins expected to stabilize, with volumes tracking higher and anti-dumping measures providing some price support.

  • Medium-term market normalization anticipated as global capacity reconfiguration progresses and tariff frictions ease.

  • Board authorized an internal committee to finalize terms for the NCD issuance, indicating a focus on strengthening liquidity and funding future growth.

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Frequently asked questions

Tata Chemicals Limited is an Indian multinational company engaged in the production of chemicals, fertilizers, and consumer products. It operates in diverse sectors, including basic chemistry, specialty chemistry, and consumer essentials. In the basic chemicals segment, the company produces soda ash, salt, and other industrial chemicals used in industries such as glass, detergents, and textiles. Its specialty chemicals division focuses on advanced materials, nutrition science, and agro-sciences. Tata Chemicals also manufactures consumer products, including food-grade salt and water purifiers, catering to everyday household needs. The company is headquartered in Mumbai, India, and its shares are listed on the BSE.

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