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Integrated Report Statutory Reports Financial Statements
1-59 Management Discussion and Analysis 147-300
The revenue declined by 15% compared to the and production volumes hitting records during
previous year due to lower soda ash volumes the year. FY 2021-22 will be the year that the new
against the previous year. In particular, export carbon capture plant takes centre stage in the
market volumes and pricing were impacted. next phase of high-grade sodium bicarbonate.
Negative PAT is led by lower operating ii. Financials ` in crore
performance coupled with one-off expenses on FY FY
energy price spike and refinancing costs. TCE Group
2020-21 2019-20
Revenue from operations 1,409 1,356
TCE Group Limited, UK (‘TCE Group’)
EBITDA 138 157
i. Operations PBT (39) 13
Sales trend of Basic Chemistry Products is as PAT (55) 14
follows:
The revenue grew 4% compared to the previous
TCE Group Sales Volume in '000 MT year led by higher salt and sodium bicarbonate
revenue along with steady soda ash revenues.
408
385 PAT reduced due to higher fixed costs, higher
367
depreciation and certain one-off tax related
324
charges.
287
266
Tata Chemicals Magadi Limited, Kenya (‘TCML’)
i. Operations
Sales trend of Basic Chemistry Products is as
107 108 114 follows:
TCML Sales Volume in '000 MT
286
FY 2018-19 FY 2019-20 FY 2020-21
251
Soda Ash Sodium Bicarbonate Salt
233
TCE is the leader in the UK’s soda ash market.
The plant operated continuously throughout the
year and in line with the expectations. Prices in
the market came under some pressure as new
contracts were negotiated for CY 2021. Energy
costs generally tightened as the year progressed.
The associated energy business had a robust
year, generating good income and contributing
strongly to the soda ash and energy business FY 2018-19 FY 2019-20 FY 2020-21
performance. Soda Ash
Soda ash is the key product in TCML portfolio,
The UK salt market volumes were down on mainly servicing container glass and silicate
account of the Covid-19 pandemic with leisure sectors in the East African domestic market and
and hospitality closures weakening the market export markets in SEA and Indian subcontinent.
demand. It is expected this demand will return
as the UK heads out of the Covid-19 pandemic in Sales volumes were lower primarily due to slack
summer 2021. Despite some delays caused by the export demand caused by the pandemic with the
pandemic, the new boiler at the salt plant is now corresponding decline in pricing.
operational which will increase energy efficiency A tight control on costs and especially lowering of
and lower carbon emissions by 10% or more.
fixed cost coupled with lower sea freight helped
The UK sodium bicarbonate market had a strong mitigate some of the margin pressure caused by
year both domestically and in exports with sales lower volumes and prices.
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