Tata Chemicals · tone and specificity signals across the available quarters.
Language signals
We are fundamentally focused on making sure our portfolio moves in the direction... Our capital allocation will be done on that basis... We will be focusing our topics more towards what drives growth in food feed and pharma and also specific segments within the industrial essentials and try to decommoditize our portfolio as much as we can.
We have sold some land in Q1 and we sold some of the shares we holding and that contributed to the debt coming down in Q1.
The profit after tax has been impacted on two counts. One is the one-time provisioning of 65 crores in UK... overall I would say about 105 cr is the broad impact of one-time events of the quarter.
Instead of 600 we would say that we should be there about 75% of the numbers
The main issue there has been that exports out of this specific product had come to almost stand still
We do expect that the prices have more or less stabilized within the Indian market. So we don't anticipate any further shifts in this margin number.
In these swing markets where pricing has dropped below $160 or $155 broadly, even a $20 movement or $15 movement is good enough to get everything back on track. So I think it is just that it's at the edge of where we think it is not acceptable.
We are going contract by contract as we speak. We are stopping to take orders which are below our expected number. You would see in the coming quarter us not delivering the volume because it doesn't make any sense to be selling in those markets at negative contribution.
Fundamentally, we are not adding any capex in any market other than India. We were the first ones to stop expansion in US way ahead of others in anticipating market conditions. Our approach has been to serve markets which are fundamentally ahead, which are more robust.