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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Chemicals Limited    TATACHEM   INE092A01019

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Tata Chemicals : to sell its phosphatic fertiliser business

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09/14/2017 | 09:37am CET

Tata Chemicals is in advanced stages of discussions and negotiations with Indorama Holdings BV, Netherlands (subsidiary of Indorama Corporation, Singapore), for the potential sale of its phosphatic fertiliser business located at Haldia and the trading business comprising of bulk and non-bulk fertilisers. Tata Chemicals is in advanced stages of discussions and negotiations with Indorama Holdings BV, Netherlands (subsidiary of Indorama Corporation, Singapore), for the potential sale of its phosphatic fertiliser business located at Haldia and the trading business comprising of bulk and non-bulk fertilisers.

The two companies have signed a mutually agreed exclusivity agreement in this regard which expires on October 31, 2017, informed the company in a BSE filing on Wednesday post market hours.

The transaction, if materialised, would involve the transfer of Haldia plant, trading Business along with immovable, movable properties, working capital and product brands but excluding outstanding subsidy amounts. The company is expected to receive consideration in the range of Rs 400 crores to Rs 500 crores.

Tata Chemicals was trading at Rs 640 per share, up by Rs 3.70 or 0.58% in the pre-opening session on Thursday, on the BSE against its previous close of Rs 636.30.

(c) 2017India Infoline Ltd. All rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( INR)
Sales 2018 136 B
EBIT 2018 19 549 M
Net income 2018 16 624 M
Debt 2018 25 973 M
Yield 2018 1,53%
P/E ratio 2018 15,67
P/E ratio 2019 17,24
EV / Sales 2018 1,63x
EV / Sales 2019 1,57x
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 732  INR
Spread / Average Target -4,5%
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NameTitle
Ramakrishnan Mukundan Chief Executive Officer, MD & Executive Director
John Mulhall Chief Financial & Investor Relations Officer
N. K. Uppal Chief Information Officer
Nasser Mukhtar Munjee Independent Non-Executive Director
Yashwant Shankar Rao Thorat Independent Non-Executive Director
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