Latest news with #TataChemicals'
Time of India
6 days ago
- Automotive
- Time of India
Tata Chemicals rejig: Chandra steps down as chairman
Photo/Agencies MUMBAI: Tata Chemicals' board is undergoing a rejig, with N Chandrasekaran stepping down as chairman. The position will be assumed by company director S Padmanabhan. In his letter to the board, Chandrasekaran, who is also the chairman of Tata Chemicals' parent Tata Sons , cited his current and future commitments as the reason for his decision to step down. Chandrasekaran, who owns Tata Chemicals shares worth nearly Rs 9 crore, joined the company's board in Nov 2020. Rules allow an individual to be a director of up to 20 companies, encompassing public, private, listed, and unlisted entities. With Tata Motors splitting into two separate entities, Chandrasekaran will have additional directorship responsibilities at the automotive giant. Also, he was recently appointed as the chairman of the Ratan Tata Endowment Foundation, which is a beneficiary of the late industrialist Ratan Tata's shares in Tata companies, valued at Rs 2,750 crore. Within the 20 companies, an individual can serve on the boards of 10 public companies, and within those 10, he can be a director of up to seven listed companies. Tata Chemicals has also appointed Modan Saha, strategy head at Tata Sons, as an additional director of the company. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
7 days ago
- Business
- Time of India
N Chandrasekaran steps down and S Padmanabhan assumes chairman role at Tata Chemicals
N Chandrasekaran steps down and S Padmanabhan assumes chairman role at Tata Chemicals MUMBAI: The board of Tata Chemicals is undergoing a restructuring, with N Chandrasekaran stepping down as chairman. This position will be assumed by existing company director, S Padmanabhan. In his letter to the board, Chandrasekaran, who is also the chairman of Tata Chemicals' parent, Tata Sons, cited his current and future commitments as the reason for his decision to step down. Chandrasekaran, who owns Tata Chemicals shares worth nearly Rs 9 crore, joined the company's board in November 2020. Rules allow an individual to be a director of up to 20 companies, encompassing public, private, listed, and unlisted entities. With Tata Motors splitting into two separate entities, Chandrasekaran will have additional directorship responsibilities at the automotive giant. Additionally, he was recently appointed as the chairman of the Ratan Tata Endowment Foundation, which is a beneficiary of the late industrialist Ratan Tata's shares in Tata companies, valued at Rs 2,750 crore. Within the 20 companies, an individual can serve on the boards of 10 public companies, and within those 10, he can be a director of up to seven listed companies. Tata Chemicals has also appointed Modan Saha, strategy head at Tata Sons, as an additional director of the company. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
08-05-2025
- Business
- Economic Times
Tata Chemicals shares rise 2% after Q4 net loss narrows to Rs 56 crore
Tata Chemicals shares climbed as much as 2.2% on Thursday to Rs 844.3 on the BSE after the company reported a consolidated net loss of Rs 56 crore for the quarter ended March 31, significantly lower than the Rs 850 crore loss in the same period last year. ADVERTISEMENT Revenue for the March quarter rose marginally by 1% year-on-year (YoY) to Rs 3,509 crore, compared to Rs 3,475 crore in Q4FY24, amid continued pricing pressure across geographies. EBITDA declined 26% YoY to Rs 327 crore from Rs 443 crore in the year-ago quarter. The EBITDA margin also contracted to 9.3% from 13.8%, driven by rising costs. The company's board has recommended a dividend of Rs 11 per share (110%) for FY25, subject to shareholder approval at the 86th Annual General Meeting (AGM). If approved, the dividend will be paid within five days of the AGM, after deducting applicable taxes. Also Read:5 timeless Warren Buffett quotes every investor should know Tata Chemicals' board has also approved a proposal to raise up to Rs 200 crore through term loans and/or the issuance of non-convertible debentures (NCDs) via private placement. An internal committee has been authorised to finalise the terms and execute the plan. ADVERTISEMENT R. Mukundan, Managing Director & CEO of Tata Chemicals, said, 'Market conditions remain challenging even as India continues to grow, while China, the US, and Western Europe are witnessing slight declines due to reduced demand for flat and container glass. In other regions, Asia (excluding China and India) and the Americas (excluding the USA) have robust demand, while a slight decline is observed in Africa.''Though the demand-supply balance is softening, tariff uncertainties will continue to weigh on the market. However, the medium- and long-term outlook remains positive, driven by sustainability trends,' he added. ADVERTISEMENT Also Read: Stocks in news: L&T, Titan, Asian Paints, Coal India, Dabur, Kfin Tech ADVERTISEMENT According to Trendlyne data, the average target price for the stock is Rs 826. The consensus recommendation from seven analysts is a 'Sell'.On Wednesday, Tata Chemicals shares closed 1.25% higher at Rs 826.3 on the BSE, while the Sensex rose 0.13%. The stock is down 20% year-to-date and 26% over the past six months. The company's market capitalisation stands at Rs 21,050 crore. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
