Investor Presentation

**Business Performance:** Tata Chemicals Q4 FY26 consolidated revenue dropped to ₹3,438 Cr (-2% YoY), with full-year at ₹14,584 Cr (-2% YoY). Profitability hit hard: Q4 EBITDA at ₹274 Cr (-16% YoY), FY26 EBITDA ₹1,805 Cr (-8% YoY). Lower soda ash prices were the main culprit.

A big ₹1,837 Cr impairment in US assets led to a Q4 net loss of ₹279 Cr.

Bright spot: India ops grew volumes, non-soda ash revenue surged 14% to ₹6,946 Cr. **Growth Drivers & Strategy:** Management is pushing to expand its non-cyclical specialty portfolio beyond soda ash.

A solid balance sheet (debt-to-equity 0.36) is ready for organic & inorganic growth.

ESG and sustainability are key pillars. **Recent Developments:** New capacities in India (Soda Ash, Bi-carb) & UK (salt) are now adding volumes.

The Lostock UK plant closure helped cut fixed costs.

TCL completed a premium pharma Bi-carb plant acquisition in Singapore & commissioned new Silica/FOS L 55 capacities.

Board declared ₹11/share dividend. **Management Outlook:** Near-term global demand is seen as flat due to macro challenges & excess capacity.

But sustainability trends (solar, EV) offer a positive long-term outlook.

FY26 Capex was ₹1,205 Cr.