9 Jun 2022 , 11:38 AM
As per the rating rationale report, the rating continues to reflect the company’s strong business risk profile, driven by its established market presence and healthy financial risk profile because of strong liquidity and financial flexibility. These strengths are partially offset by susceptibility to price volatility in the soda ash business.
For arriving at the rating, CRISIL Ratings has combined the business and financial risk profiles of TCL, Tata Chemicals Europe, Tata Chemicals North America, Tata Chemicals Magadi, and Rallis India Ltd (Rallis; ‘CRISIL AA+/Stable/CRISIL A1+’). For calculation of financial ratios, CRISIL Ratings has amortised goodwill (both arising from acquisitions as well as self-generated) over 20 years starting from fiscal 2009.
At around 11:35 AM, Tata Chemicals was trading at Rs931.50 apiece down by Rs3.6 or 0.38% from its previous closing of Rs935.10 apiece on the BSE.
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