Adverse demand-supply scenario of soda ash hurts result

11 Mar 2024
5 Min read 
  • Tata Chemicals reports 41% decline in consolidated EBITDA in 3QFY24.
  •  Decline due to subdued operating performance and unfavorable demand-supply dynamics in soda ash industry.
  •  Expect stable to slightly better performance from India operations.
  •  Capacity expansion underway, new soda ash plant to be commissioned by May 2024.
  •  Short-term challenges in soda ash market expected to balance out in medium term.
  •  FY24/FY25/FY26 EBITDA estimates revised downwards, Neutral rating with target price of INR900.
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