Robust operational performance; EBITDA margins for the year up 300 basis points
May 24, 2010

Corporate highlights
	Robust demand growth for soda ash at 12 per cent over the last year.
	Bicarbonate demand has also increased by 18 per cent
	Strong performance across all geographies
	Tata Swach well received by the market. Cumulative sales at the end of April 2010 at 50,000 units
	Haldor Topsoe, Denmark and Saipem, Italy selected as technology suppliers and EPCM partners for ammonia and urea respectively
	Urea production up by over 20 per cent for FY2010
	New customised fertiliser facility set to be commissioned in Q2
	Domestic formulation and institutional business of Rallis India grew by 20 per cent and 25 per cent respectively over previous year

FY10 Financial highlights
	Net income from operations at Rs9,544 crore
	Profit from operations at Rs1,391 crore
	Profit before tax at Rs933 crore
	Net profit for the group at Rs606 crore

Commenting on the company’s performance for FY 2010, R Mukundan, managing director, said: “Our operating and financial performance for the year under review has been extremely strong, reflected in healthy improvement in our operating margins by over 300 basis points. This has been the result of a focus on enhancing sales volumes and driving down costs.

“We have made progress in doubling our fertiliser facility at Babrala with the selection of Haldor Topsoe, Denmark and Saipem, Italy as technology suppliers and EPCM partners for ammonia and urea respectively. We are hopeful of gas allocation and suitable policy amendments for this project to achieve financial closure. The setting up of our 130,000 tonne customised fertiliser unit too is nearing completion. We are excited about creating a new business category and believe there is tremendous opportunity for us to build our brand and expand offerings through this business.

“Soda ash prices have declined YOY. However, commensurate falls in input prices combined with increasingly efficient operations have helped us maintain position. Our consumer products business too continues to perform strongly. Tata Swach is now available across the states of Maharashtra and Karnataka.

“We will continue to drive growth and strengthen our scale and competitive position across all our businesses.”