Tata Chemicals' Domestic Business Cushions Global Slump

Long road to recovery

- Ashish Agrawal

Tata Chemicals Ltd's consolidated Ebitda rose 13% year-on-year in the June quarter (Q1FY26) to ₹649 crore, aided by lower input costs. The growth comes on a low base, given Ebitda had declined 45% in Q1FY25 and 31% in FY25. However, the Ebitda is still 38% below the Q1FY24 figure.

Q1FY26 Ebitda margin expanded 240 basis points (bps) year-on-year to 17.5%. While the domestic business Ebitda growth was 24%, two of the three overseas regions of the US, the UK and Kenya, reported an Ebitda decline. The three regions contributed 46% of consolidated Q1 revenue of ₹3,700 crore, almost 2% down year-on-year due to muted volumes.