Tata Chemicals Ltd(TATACHEM)

NSE: TATACHEMBSE: 500770

₹ 575.5-3.12%refreshed 23 Oct, 03:50 pm ISTMarket cap: ₹ 14,661 crWebsite: www.tatachemicals.comUpdated: 24 Oct 2026

About

Tata Chemicals is an Indian commodity and specialty chemicals company producing soda ash, salt, bicarbonate, silica, and agri-nutrients across India, the US, UK, Kenya, and Singapore. In FY26 it reported consolidated revenue of ₹14,584 Cr, with Basic Chemistry Products contributing 78.9% of segment revenue. It ranks #1 in India for sodium bicarbonate and #3 for soda ash, and is reshaping its portfolio toward non-cyclical products under a new Living, Industrial, and Farm Essentials reporting structure.^[1][2][3]

Business segments

Basic Chemistry Products (soda ash, salt, bicarb) contributed 78.9% of segment revenue (₹11,521 Cr) in FY26, with an EBIT of -₹1,311 Cr (-11.4% margin).^[2]
Specialty Products (silica, agri-nutrients, FOS) contributed 21.1% of segment revenue (₹3,076 Cr) in FY26, with an EBIT of ₹168 Cr (5.5% margin).^[2]
From Q1 FY27, reporting moved to three segments: Living Essentials (salt, bicarb), Industrial Essentials (soda ash) and Farm Essentials, to sharpen capital allocation toward non-cyclical products.^[4]
Non-soda ash revenue grew 14% from ₹6,118 Cr in FY25 to ₹6,946 Cr in FY26.^[5]

Products and brands

Basic Chemistry covers soda ash, sodium bicarbonate, salt and other inorganic chemicals; Specialty Products covers agrochemicals and seeds, silica and prebiotics (as of FY25).^[3]
Sodium bicarbonate brands are Sodakarb (food), Alkakarb (feed), Speckarb (industrial) and Medikarb (pharma).^[3]
Listed subsidiary Rallis India sells crop protection, biologicals and seeds through over 7,200 dealers and 100,000 retailers, covering 80% of India's districts and exporting to more than 60 countries (FY25).^[3]
The company had filed 445 patent applications cumulatively, with 175 granted, and runs innovation centres in Pune and Bengaluru (FY25).^[3]

Operations and capacity

Soda ash capacity stood at 3.9 million tonnes in FY25, over two-thirds from natural sources in Wyoming, USA and Lake Magadi, Kenya.^[3]
15 manufacturing sites across 5 countries as of FY25; combined sodium bicarbonate capacity of 380 kilo tonnes across India and the UK.^[3]
Footprint spans India (Mithapur, Gujarat; Cuddalore, Tamil Nadu), the US, UK, Kenya and Singapore (Novabay, 60,000 MTPA pharma-grade bicarb, acquired 19 March 2026).^[5]
Installed silica capacity was 10,800 MT in FY25, with production of 7,644 MT.^[3]
Prebiotics are made at a greenfield facility in Mambattu, Andhra Pradesh, holding FSSAI, FSSC 22000, Halal and Kosher certifications.^[3]
Kenya's 50 Kt electric calciner soda ash unit was operationalised in Q4 FY26.^[5]
UK soda ash production at Lostock has ceased; the UK business now focuses on value-added bicarbonate and pharma-grade salt.^[6][3]

Key operating volumes

Living Essentials (salt and bicarb) sales volumes were 544 Kts in Q1 FY27, up 17% from 463 Kts in Q1 FY26.^[4]
Industrial Essentials (soda ash) sales volumes were 884 Kts in Q1 FY27, up 10% from 802 Kts in Q1 FY26.^[4]
Mithapur, Gujarat achieved 1 million tons of soda ash production in FY26.^[5]
India bicarbonate output expanded from 140 Kt to 290 Kt in FY26 and is fully sold out.^[5]
Salt production was 13.80 lakh MT in FY25; India sodium bicarbonate sales were 1.47 lakh MT, up 17.6%; cement sales 3.75 lakh MT, up 51.8%.^[3]
HDS silica supply was 1,941 MT in FY25, up 76%.^[3]
India standalone EBITDA margin was 28% in Q1 FY27 vs ~23% in Q1 FY26, helped partly by coal inventory gains; management guided a sustainable ~18%.^[4]

Soda ash pricing and markets

Chinese soda ash export prices were USD 160 - 180/tonne (FOB) in Q1 FY27, after falling about 56 - 58% from Q2 FY23 to Q2 FY26 on new Inner Mongolia capacity.^[4]
US business EBITDA was ₹3 Cr in Q1 FY27 vs ₹188 Cr in Q1 FY26, as Southeast Asia exports were at breakeven or unremunerative levels.^[4]
Indian soda ash imports exceeded 10 lakh MT in FY25, up over 80%, with price declines outpacing cost declines.^[3]

Customers and distribution

Tata Consumer Products is the single customer for edible salt (FY25).^[3]
India bicarbonate demand is driven by flue gas desulphurisation installations at NTPC and coal-fired power plants.^[5]
US soda ash shipments to Argentina rose 53% and to Chile 32% in Q1 FY27, driven by lithium carbonate demand.^[4]
The company works with 6,800 dealers and 93,000 retailers (FY25).^[3]

Expansion and capex

82.5 KTPA IVSD salt plant at Mithapur: capex ₹100 Cr, commissioning by March 2027, supply from Q1 FY28.^[4]
350 KTPA dense soda ash expansion at Mithapur (repurposed cement plant): capex ₹135 Cr, aimed at solar glass, commissioning December 2027.^[5]
50 KTPA precipitated silica plant at Cuddalore: capex ₹775 Cr, ~24-month execution, commissioning March 2028.^[4]
210 KTPA greenfield IVSD salt plant at Valinokkam: capex ₹515 Cr, commissioning September 2028.^[4]
FY27 consolidated capex guided at or below the depreciation run-rate of about ₹1,200 Cr.^[4]
40 KTPA bicarbonate expansion in Singapore is a long-term priority with no committed timeline.^[4]
A sodium-ion battery pack with BMS was produced in Q1 FY27 for stationary storage; pilot testing to take 6 - 9 months, commercial plant about two years after.^[4]

Recent developments

Acquisition of Novabay Pte Limited (Singapore) completed 19 March 2026, adding 60,000 MTPA of pharma-grade bicarbonate capacity.^[5]
Net external debt fell by ₹269 Cr to ₹5,692 Cr at June 2026 from ₹5,961 Cr at March 2026 via sale of non-core land and equity holdings.^[4]
A government investigation into anti-dumping and safeguard duties on soda ash imports into India was ongoing as of Q4 FY26.^[5]

Market Cap

₹14,661 Cr

High / Low

₹917 / 570

Stock P/E

-7.0

Price / Book

0.7

Book Value

₹832

EPS

₹-74.4

No. of Shares

25.48 Cr

ROCE

3.6%

ROE

-8.9%

OPM

6.2%

Debt / Equity

0.38

Sales

₹14,584 Cr

Net Profit

₹-1,715 Cr

Promoter holding

38.0%

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Tata Chemicals Ltd(TATACHEM)

About

Business segments

Products and brands

Operations and capacity

Key operating volumes

Soda ash pricing and markets

Customers and distribution

Expansion and capex

Recent developments

Signal history

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