OREANDA-NEWS. Commenting on the company’s Q3 FY13 performance, R Mukundan, managing director, Tata Chemicals, said, “Performance for the quarter under review was under stress due to Magadi and UK units’ performance and phosphatics business. Continued outstanding of fertiliser subsidies has created working capital pressures for the company. However, on the whole we remain positive on recent fertiliser policy announcements. Going forward we expect Indian market to continue the growth momentum, however there would be continued pressure on soda ash and in the complex fertiliser business. We continue to lead the market in the national branded salt category with 66 percent market share.Taking our consumer centricity focus further, during the quarter, launched Tata i-Shakti besan in the New Delhi market and a direct to customer based offering, Dal on Call, providing free home delivery to customers. With the announcement of the new urea policy, the company is taking steps to progress brown field expansion plan at Babrala. The company has already secured relevant statutory clearances for this project.”

Businesswise performance

Living essentials

Tata Salt remained the market leader with 66.3 percent market share in the national branded segment.

Tata Salt retailer family growing at a healthy pace.

Pulses sales volume growing steadily Q-o-Q.

Launched Tata i-Shakti besan in Delhi.

Introduced Dal on Call in Mumbai; toll free no 1800 108 4488.

Industry essentials

Global, as well as domestic, soda ash demand firm.

Soda ash prices for the quarter were stable, pricing pressure increasing though.

Cement production higher than expectation.

Tata Chemicals Europe and Tata Chemicals North America production on expected lines.

Tata Chemicals Magadi sales impacted due to rains – getting back to normalcy.

Farm essentials

Urea production in line with expectation.

Neem-coated urea demand seen rising in the market.

SSP production and demand growing steadily.

Rallis net sales up 12 percent on Y-o-Y basis.

Government announced new urea investment policy for brownfield / greenfield projects.

IMACID pricing issue settled and production back on track.