TATACHEM
New to Zerodha? Sign-up for free.
New to Zerodha? Sign-up for free.
-
Share Price
-
Financials
-
Revenue mix
-
Shareholdings
-
Peers
-
Forensics
- 5D
- 1M
- 6M
- YTD
- 1Y
- 5Y
- MAX
This data is currently unavailable for this company.
-
Summary
-
Profit & Loss
-
Balance sheet
-
Cashflow
| (In Cr.) |
|---|
| (In Cr.) | ||||
|---|---|---|---|---|
|
This data is currently unavailable for this company. |
| (In %) |
|---|
| (In Cr.) |
|---|
| Financial Year (In Cr.) |
|---|
-
Product wise
-
Location wise
Revenue Mix
This data is currently unavailable for this company.
Revenue Mix
This data is currently unavailable for this company.
Recent events
-
News
-
Corporate Actions
Rallis India rises on 19% jump in quarterly revenue
** Shares of Rallis India rise 2.32% to 235.55 rupees
** The agri chemicals firm posted a 19% jump in quarterly revenue y/y to 6.23 billion rupees ($67.96 million) on Tuesaday
** Co's quarterly performance driven by strong volume growth across segments, ICICI Securities says
** Brokerage says co's overall performance better than expected in the backdrop of multiple headwinds which impacted Q2 numbers
** Stock on track to snap five session of losses
** Trading vols at 1.27 mln shares, about 3x the 30-day avg of 464,012 shares
** Mean rating of stock is 'hold'; median PT is 290 rupees - data compiled by LSEG
** RALL closed ~5% down in 2025, about 18% down so far in 2026
($1 = 91.6700 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
** Shares of Rallis India rise 2.32% to 235.55 rupees
** The agri chemicals firm posted a 19% jump in quarterly revenue y/y to 6.23 billion rupees ($67.96 million) on Tuesaday
** Co's quarterly performance driven by strong volume growth across segments, ICICI Securities says
** Brokerage says co's overall performance better than expected in the backdrop of multiple headwinds which impacted Q2 numbers
** Stock on track to snap five session of losses
** Trading vols at 1.27 mln shares, about 3x the 30-day avg of 464,012 shares
** Mean rating of stock is 'hold'; median PT is 290 rupees - data compiled by LSEG
** RALL closed ~5% down in 2025, about 18% down so far in 2026
($1 = 91.6700 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Tata Chemicals To Consider Issuance Of Non-Convertible Debentures
Oct 28 (Reuters) - Tata Chemicals TTCH.NS:
TO CONSIDER ISSUANCE OF NON-CONVERTIBLE DEBENTURES
Source text: ID:nBSE5qmkj2
Further company coverage: TTCH.NS
(([email protected];))
Oct 28 (Reuters) - Tata Chemicals TTCH.NS:
TO CONSIDER ISSUANCE OF NON-CONVERTIBLE DEBENTURES
Source text: ID:nBSE5qmkj2
Further company coverage: TTCH.NS
(([email protected];))
Tata Chemicals June-Quarter Consol Net Profit At 2.52 Billion Rupees
July 25 (Reuters) - Tata Chemicals Ltd TTCH.NS:
JUNE-QUARTER CONSOL NET PROFIT 2.52 BILLION RUPEES
JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 37.19 BILLION RUPEES
Source text: ID:nBSE3XTbP8
Further company coverage: TTCH.NS
(([email protected];))
July 25 (Reuters) - Tata Chemicals Ltd TTCH.NS:
JUNE-QUARTER CONSOL NET PROFIT 2.52 BILLION RUPEES
JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 37.19 BILLION RUPEES
Source text: ID:nBSE3XTbP8
Further company coverage: TTCH.NS
(([email protected];))
Rallis India rises after profit nearly doubles, set for busiest day in 9 months
** Shares of Rallis India RALL.NS rise as much as 9% to 385.75 rupees
** Agri chemicals firm's Q1 net profit nearly doubled to 950 mln rupees ($11.1 mln), rev up 22.2% y/y
** Adds, market placement in Q1 benefited from early onset of monsoon, global demand has also started showing signs of recovery in a few products
** More than 22.1 mln shares traded as of 12:44 p.m. IST, 32.6x their 30-day moving avg; busiest day yet since Oct. 16, 2024
** Mean rating of stock is 'sell'; median PT is 234 rupees - data compiled by LSEG
** RALL last up 3.6%, adding to YTD gains of 19.6%
($1 = 85.8125 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
** Shares of Rallis India RALL.NS rise as much as 9% to 385.75 rupees
** Agri chemicals firm's Q1 net profit nearly doubled to 950 mln rupees ($11.1 mln), rev up 22.2% y/y
** Adds, market placement in Q1 benefited from early onset of monsoon, global demand has also started showing signs of recovery in a few products
** More than 22.1 mln shares traded as of 12:44 p.m. IST, 32.6x their 30-day moving avg; busiest day yet since Oct. 16, 2024
** Mean rating of stock is 'sell'; median PT is 234 rupees - data compiled by LSEG
** RALL last up 3.6%, adding to YTD gains of 19.6%
($1 = 85.8125 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
Indian agrochemical firms to have strong first-half on monsoon, sowing boost, HSBC says
** Brokerage HSBC says strong rainfall and sowing trends support positive fundamentals for Indian agrochemical companies in the first half of FY2026
** 2025 monsoon arrived early on May 24, with an initial 31% rainfall deficit but a revival since then has pushed rainfall above average, with overall levels 2% above normal as of June 23
** Brokerage says good monsoon and higher crop sowing expected to boost seed and pesticide consumption
** HSBC maintains 'Buy' on UPL UPLL.NS and Dhanuka Agritech DHNP.NS, 'Hold' on Bayer CropScience BAYE.NS, and 'Reduce' on Rallis India RALL.NS
** YTD, UPL has gained ~29%, Dhanuka Agritech rose ~13%, Bayer CropScience edged up 1.9%, while Rallis India added 3.1%
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Brokerage HSBC says strong rainfall and sowing trends support positive fundamentals for Indian agrochemical companies in the first half of FY2026
** 2025 monsoon arrived early on May 24, with an initial 31% rainfall deficit but a revival since then has pushed rainfall above average, with overall levels 2% above normal as of June 23
** Brokerage says good monsoon and higher crop sowing expected to boost seed and pesticide consumption
** HSBC maintains 'Buy' on UPL UPLL.NS and Dhanuka Agritech DHNP.NS, 'Hold' on Bayer CropScience BAYE.NS, and 'Reduce' on Rallis India RALL.NS
** YTD, UPL has gained ~29%, Dhanuka Agritech rose ~13%, Bayer CropScience edged up 1.9%, while Rallis India added 3.1%
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
Tata Chemicals Q4 Consol Net Loss 560 Mln Rupees
May 7 (Reuters) - Tata Chemicals Ltd TTCH.NS:
Q4 CONSOL NET LOSS 560 MILLION RUPEES
Q4 CONSOL REVENUE FROM OPERATIONS 35.09 BILLION RUPEES
DIVIDEND OF 11 RUPEES PER SHR
TO RAISE FUNDS WORTH 2 BLN RUPEES
Source text: [ID:]
Further company coverage: TTCH.NS
(([email protected];;))
May 7 (Reuters) - Tata Chemicals Ltd TTCH.NS:
Q4 CONSOL NET LOSS 560 MILLION RUPEES
Q4 CONSOL REVENUE FROM OPERATIONS 35.09 BILLION RUPEES
DIVIDEND OF 11 RUPEES PER SHR
TO RAISE FUNDS WORTH 2 BLN RUPEES
Source text: [ID:]
Further company coverage: TTCH.NS
(([email protected];;))
Tata Chemicals To Consider Fund Raising Via Term Loans Or Debentures
April 30 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS LTD - BOARD TO CONSIDER FUND RAISING VIA TERM LOANS OR DEBENTURES
Source text: ID:nBSE6d3vjH
Further company coverage: TTCH.NS
(([email protected];))
April 30 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS LTD - BOARD TO CONSIDER FUND RAISING VIA TERM LOANS OR DEBENTURES
Source text: ID:nBSE6d3vjH
Further company coverage: TTCH.NS
(([email protected];))
Rallis India falls on widening Q4 loss
** Rallis India RALL.NS falls 4.7% to 242 rupees
** Agricultural chemicals producer's Q4 loss expands to 320 mln rupees ($3.8 mln) from year-ago 210 mln rupees, hurt by increased expenses; rev down 1.4%
** More than 1.5 mln shares traded, ~3.5x the 30-day avg
** Stock rated "sell" on avg; median PT is 250 rupees, per data compiled by LSEG
** RALL falls 18% YTD
($1 = 85.4300 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
** Rallis India RALL.NS falls 4.7% to 242 rupees
** Agricultural chemicals producer's Q4 loss expands to 320 mln rupees ($3.8 mln) from year-ago 210 mln rupees, hurt by increased expenses; rev down 1.4%
** More than 1.5 mln shares traded, ~3.5x the 30-day avg
** Stock rated "sell" on avg; median PT is 250 rupees, per data compiled by LSEG
** RALL falls 18% YTD
($1 = 85.4300 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
India's Tata Chemicals slides on posting quarterly loss
** Shares of Tata Chemicals TTCH.NS down 4% to 909.6 rupees
** The chemicals firm posts Q3 net loss of 530 million rupees ($6.1 mln) vs profit of 1.58 billion rupees a year ago
** Co registers one-time charge of 700 million rupees in its UK operations, along with lower soda ash prices amid soft demand
** More than 2.1 million shares traded, about twice its 30-day moving avg
** Stock trading below its 50-, 100- and 200-day simple moving avgs since late Dec, indicating bearish sentiment
** Avg rating of seven analysts is a "sell" and median PT is 879 rupees, about 3% lower than current price - LSEG
** Stock fell 4.7% in 2024
($1 = 87.0300 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
** Shares of Tata Chemicals TTCH.NS down 4% to 909.6 rupees
** The chemicals firm posts Q3 net loss of 530 million rupees ($6.1 mln) vs profit of 1.58 billion rupees a year ago
** Co registers one-time charge of 700 million rupees in its UK operations, along with lower soda ash prices amid soft demand
** More than 2.1 million shares traded, about twice its 30-day moving avg
** Stock trading below its 50-, 100- and 200-day simple moving avgs since late Dec, indicating bearish sentiment
** Avg rating of seven analysts is a "sell" and median PT is 879 rupees, about 3% lower than current price - LSEG
** Stock fell 4.7% in 2024
($1 = 87.0300 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
Tata Chemicals Q3 Consol Net Loss 530 Mln Rupees
Feb 3 (Reuters) - Tata Chemicals Ltd TTCH.NS:
Q3 CONSOL NET LOSS 530 MILLION RUPEES
Q3 CONSOL REVENUE FROM OPERATIONS 35.9 BILLION RUPEES
Source text: [ID:]
Further company coverage: TTCH.NS
(([email protected];;))
Feb 3 (Reuters) - Tata Chemicals Ltd TTCH.NS:
Q3 CONSOL NET LOSS 530 MILLION RUPEES
Q3 CONSOL REVENUE FROM OPERATIONS 35.9 BILLION RUPEES
Source text: [ID:]
Further company coverage: TTCH.NS
(([email protected];;))
Rallis India slumps after Q3 profit halves
** Shares of agricultural chemicals producer Rallis India Ltd RALL.NS fall 6.8% to 270 rupees after Q3 results
** The Tata Chemicals TTCH.NS subsidiary reports 54% y/y decline in net profit to 110 mln rupees ($1.27 million)
** Co faced pricing pressures and lower demand in its export business and 'intense market competition' in domestic business, it said in a regulatory filing
** Co's revenue from operations falls 12.7% to 5.22 bln rupees
** Monday's losses trim 12-month gain to 3.07%
** Stock rated 'sell' on avg by 13 analysts, median PT is 274 rupees - LSEG data
($1 = 86.4820 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru)
** Shares of agricultural chemicals producer Rallis India Ltd RALL.NS fall 6.8% to 270 rupees after Q3 results
** The Tata Chemicals TTCH.NS subsidiary reports 54% y/y decline in net profit to 110 mln rupees ($1.27 million)
** Co faced pricing pressures and lower demand in its export business and 'intense market competition' in domestic business, it said in a regulatory filing
** Co's revenue from operations falls 12.7% to 5.22 bln rupees
** Monday's losses trim 12-month gain to 3.07%
** Stock rated 'sell' on avg by 13 analysts, median PT is 274 rupees - LSEG data
($1 = 86.4820 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru)
Tata Chemicals Unit Approves Capital Investment Of £60 Mln To Build Plant In UK
Nov 12 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS - UNIT APPROVES CAPITAL INVESTMENT OF £60 MILLION TO BUILD PLANT IN UK
TATA CHEMICALS - UNIT APPROVES PROPOSAL TO CEASE CHEMICAL PRODUCTION AT LOSTOCK PLANT BY JAN END 2025
Source text: ID:nnAPN2DS9D4
Further company coverage: TTCH.NS
(([email protected];))
Nov 12 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS - UNIT APPROVES CAPITAL INVESTMENT OF £60 MILLION TO BUILD PLANT IN UK
TATA CHEMICALS - UNIT APPROVES PROPOSAL TO CEASE CHEMICAL PRODUCTION AT LOSTOCK PLANT BY JAN END 2025
Source text: ID:nnAPN2DS9D4
Further company coverage: TTCH.NS
(([email protected];))
India's Tata Chemicals down after Q2 profit falls
** Shares of Tata Chemicals TTCH.NS fall as much as 3.1% to 1,040.20 rupees
** Chemical products maker reported ~55% y/y fall in Q2 consol net profit to 1.94 bln rupees ($23.08 mln), rev rose 0.03% y/y
** Total expenses rose nearly 7% to 38.03 bln rupees, with freight and forwarding charges rising nearly 32%
** Stock on track to snap 3 weeks of gains, if trend holds
** More than 720,000 shares traded as of 9:55 a.m. IST vs their 30-day moving avg of more than 1.9 mln shares
** Mean rating of 7 brokerages is 'sell'; their median PT is 881 rupees - LSEG data
** TTCH last down 2.8%, adding to YTD losses of 5.5% so far
($1 = 84.0620 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
** Shares of Tata Chemicals TTCH.NS fall as much as 3.1% to 1,040.20 rupees
** Chemical products maker reported ~55% y/y fall in Q2 consol net profit to 1.94 bln rupees ($23.08 mln), rev rose 0.03% y/y
** Total expenses rose nearly 7% to 38.03 bln rupees, with freight and forwarding charges rising nearly 32%
** Stock on track to snap 3 weeks of gains, if trend holds
** More than 720,000 shares traded as of 9:55 a.m. IST vs their 30-day moving avg of more than 1.9 mln shares
** Mean rating of 7 brokerages is 'sell'; their median PT is 881 rupees - LSEG data
** TTCH last down 2.8%, adding to YTD losses of 5.5% so far
($1 = 84.0620 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected];))
Tata Chemicals Q2 Consol Net Profit 1.94 Billion Rupees
Oct 17 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS Q2 CONSOL NET PROFIT 1.94 BILLION RUPEES
TATA CHEMICALS Q2 CONSOL REVENUE FROM OPERATIONS 39.99 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: TTCH.NS
(([email protected];))
Oct 17 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS Q2 CONSOL NET PROFIT 1.94 BILLION RUPEES
TATA CHEMICALS Q2 CONSOL REVENUE FROM OPERATIONS 39.99 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: TTCH.NS
(([email protected];))
Rallis India rises 11% on higher Q2 profit
** Shares of Rallis India RALL.NS rise 11.5% to 359.45 rupees
** Agrochemical firm reports a 19.5% rise in Sept-qtr net profit to 980 million rupees (~$11.7 million) while rev from ops jumps 11.5%
** RALL on track for fourth straight session of gains
** Busiest session for stock since early August; more than 3.6 mln shares change hands, over 11 times the 30-day avg in early trade
** Avg rating of analysts covering RALL at "sell" vs a "buy" rating both for larger peers UPL UPLL.NS and Dhanuka Agritech DHNP.NS
** RALL's median PT is at 250 rupees - LSEG data
** Stock up ~44% so far this year vs a ~3% fall in UPLL and a ~44% rise in DHNP
($1 = 84.0650 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
** Shares of Rallis India RALL.NS rise 11.5% to 359.45 rupees
** Agrochemical firm reports a 19.5% rise in Sept-qtr net profit to 980 million rupees (~$11.7 million) while rev from ops jumps 11.5%
** RALL on track for fourth straight session of gains
** Busiest session for stock since early August; more than 3.6 mln shares change hands, over 11 times the 30-day avg in early trade
** Avg rating of analysts covering RALL at "sell" vs a "buy" rating both for larger peers UPL UPLL.NS and Dhanuka Agritech DHNP.NS
** RALL's median PT is at 250 rupees - LSEG data
** Stock up ~44% so far this year vs a ~3% fall in UPLL and a ~44% rise in DHNP
($1 = 84.0650 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
Noel Tata takes the reins at powerful charity arm of India's Tata group
Noel Tata appointed chairman of Tata Trusts after Ratan Tata's death
Tata Trusts holds 66% of Tata Sons, giving influence over major decisions
Noel Tata has over 40 years of experience with Tata Group
Adds former Tata executive comment paragraph 7-8
By Aditya Kalra and Aditi Shah
NEW DELHI, Oct 11 (Reuters) - The half-brother of Ratan Tata was appointed on Friday as the head of the powerful and influential philanthropic arm of India's Tata group, giving him indirect control of the $165 billion conglomerate.
Tata Trusts said Noel Tata, 67, will be its new chairman after the death this week of Ratan Tata, one of India's best-known corporate titans. The decision followed "many old-timers" in the group wanting him to lead the venture, said one Tata executive.
The parent company, Tata Sons, oversees 30 firms across consumer goods, hotels, automobiles and airlines and has become a global juggernaut over the years, with brands such as Jaguar Land Rover and Tetley Tea in its stable.
It owns Tata Consultancy Services, Taj Hotels and Air India and counts Starbucks SBUX.O and Airbus as partners in India.
Tata Trusts has a 66% ownership of Tata Sons, giving it power over big investment, philanthropic and strategic decisions by the conglomerate, company executives say.
Noel Tata, who is half-French, was already among the many trustees of the philanthropic arm, and also vice chairman of Tata Steel TISC.NS and chairman of Tata's popular retail fashion brand Trent.
"Noel is well versed with how Tata businesses are run. In retail, many people thought how will Tata compete with the big retailers. Noel has shown it," said Sanjay Singh, a former Tata Sons executive who retired in 2019.
"He has kept a low profile so the outer world doesn’t know him well, but he is quintessential Tata."
The trust earns dividends from Tata Sons but has no direct say over its operations. However, it appoints a third of the directors to Tata Sons who have veto power over board decisions.
The chairman of Tata Trusts "is powerful enough to decide board and key personnel" appointments at Tata Sons, a second senior company executive said.
While Tata Sons is not compelled to seek advice or guidance from the philanthropic arm, it's an "unsaid understanding" that there is consultation between leadership on both sides, the first executive added.
NOEL'S JOURNEY
The Tata group was set up in 1868 by Ratan's great grandfather, Jamsetji Tata.
A few years later, Jamsetji started charity work that has since expanded to sectors such as healthcare and sports, through many of the trusts in the philanthropic arm.
Ratan Tata started working at the family firm in 1962 and became the chairman of Tata Sons in 1991, taking the group to new heights while gaining a reputation as an extremely shy, soft-spoken executive with sharp business acumen.
Noel Tata is a graduate of Sussex University who has been associated with the group for more than 40 years. He serves on the board of various Tata companies.
As a previous managing director of Tata International, Noel grew the turnover of the trading arm to more than $3 billion from $500 million, a Tata Group website said.
The Tatas belong to the tiny Parsi community, which has included some of India's biggest business names, top nuclear scientists, world-class musicians and senior military officers.
Parsis follow the Zoroastrian faith, an ancient pre-Islamic religion of Iran. Some of its tenets, such as charity and doing good to others, have long been woven into the Tata heritage and business ethos.
Much of the dividend paid out by Tata Sons gets funneled into charitable trusts involved in philanthropic work.
Although the trusts' influence over the group is not often on display, the starkest such example was in 2016, when Ratan Tata had a falling out with Tata Sons chairman Cyrus Mistry that led to the latter's ouster.
Mistry, another Parsi billionaire whose family owns a stake of about 18% in Tata Sons, died in a car accident in 2022.
One of his former advisers told Reuters this week that the Tata Trusts "without a doubt" exert unparalleled power over Tata Sons' functions, adding that they "work behind a veil."
Noel is an Irish citizen married to Mistry's sister.
(Reporting by Aditya Kalra and Aditi Shah
Additional reporting by Krishn Kaushik and Tanvi Mehta
Editing by Raju Gopalakrishnan and Frances Kerry)
(([email protected]; @adityakalra;))
Noel Tata appointed chairman of Tata Trusts after Ratan Tata's death
Tata Trusts holds 66% of Tata Sons, giving influence over major decisions
Noel Tata has over 40 years of experience with Tata Group
Adds former Tata executive comment paragraph 7-8
By Aditya Kalra and Aditi Shah
NEW DELHI, Oct 11 (Reuters) - The half-brother of Ratan Tata was appointed on Friday as the head of the powerful and influential philanthropic arm of India's Tata group, giving him indirect control of the $165 billion conglomerate.
Tata Trusts said Noel Tata, 67, will be its new chairman after the death this week of Ratan Tata, one of India's best-known corporate titans. The decision followed "many old-timers" in the group wanting him to lead the venture, said one Tata executive.
The parent company, Tata Sons, oversees 30 firms across consumer goods, hotels, automobiles and airlines and has become a global juggernaut over the years, with brands such as Jaguar Land Rover and Tetley Tea in its stable.
It owns Tata Consultancy Services, Taj Hotels and Air India and counts Starbucks SBUX.O and Airbus as partners in India.
Tata Trusts has a 66% ownership of Tata Sons, giving it power over big investment, philanthropic and strategic decisions by the conglomerate, company executives say.
Noel Tata, who is half-French, was already among the many trustees of the philanthropic arm, and also vice chairman of Tata Steel TISC.NS and chairman of Tata's popular retail fashion brand Trent.
"Noel is well versed with how Tata businesses are run. In retail, many people thought how will Tata compete with the big retailers. Noel has shown it," said Sanjay Singh, a former Tata Sons executive who retired in 2019.
"He has kept a low profile so the outer world doesn’t know him well, but he is quintessential Tata."
The trust earns dividends from Tata Sons but has no direct say over its operations. However, it appoints a third of the directors to Tata Sons who have veto power over board decisions.
The chairman of Tata Trusts "is powerful enough to decide board and key personnel" appointments at Tata Sons, a second senior company executive said.
While Tata Sons is not compelled to seek advice or guidance from the philanthropic arm, it's an "unsaid understanding" that there is consultation between leadership on both sides, the first executive added.
NOEL'S JOURNEY
The Tata group was set up in 1868 by Ratan's great grandfather, Jamsetji Tata.
A few years later, Jamsetji started charity work that has since expanded to sectors such as healthcare and sports, through many of the trusts in the philanthropic arm.
Ratan Tata started working at the family firm in 1962 and became the chairman of Tata Sons in 1991, taking the group to new heights while gaining a reputation as an extremely shy, soft-spoken executive with sharp business acumen.
Noel Tata is a graduate of Sussex University who has been associated with the group for more than 40 years. He serves on the board of various Tata companies.
As a previous managing director of Tata International, Noel grew the turnover of the trading arm to more than $3 billion from $500 million, a Tata Group website said.
The Tatas belong to the tiny Parsi community, which has included some of India's biggest business names, top nuclear scientists, world-class musicians and senior military officers.
Parsis follow the Zoroastrian faith, an ancient pre-Islamic religion of Iran. Some of its tenets, such as charity and doing good to others, have long been woven into the Tata heritage and business ethos.
Much of the dividend paid out by Tata Sons gets funneled into charitable trusts involved in philanthropic work.
Although the trusts' influence over the group is not often on display, the starkest such example was in 2016, when Ratan Tata had a falling out with Tata Sons chairman Cyrus Mistry that led to the latter's ouster.
Mistry, another Parsi billionaire whose family owns a stake of about 18% in Tata Sons, died in a car accident in 2022.
One of his former advisers told Reuters this week that the Tata Trusts "without a doubt" exert unparalleled power over Tata Sons' functions, adding that they "work behind a veil."
Noel is an Irish citizen married to Mistry's sister.
(Reporting by Aditya Kalra and Aditi Shah
Additional reporting by Krishn Kaushik and Tanvi Mehta
Editing by Raju Gopalakrishnan and Frances Kerry)
(([email protected]; @adityakalra;))
Hundreds gather to pay last respects to India's iconic business tycoon Ratan Tata
By Tanvi Mehta
NEW DELHI, Oct 10 (Reuters) - Hundreds of people, including corporate leaders, politicians and celebrities, gathered in Mumbai on Thursday to pay their last respects to one of India's most respected business tycoons, Ratan Tata, who died aged 86.
Known for his exemplary business acumen and philanthropic nature, as chairman he led various companies under the Tata conglomerate for more than 20 years, which had revenue of $165 billion in 2023-24.
Although in recent years Tata was not as active in the day-to-day running of the group, he was consulted on big decisions by the Tata Sons leadership, a senior company executive told Reuters.
Tata had been in a Mumbai hospital since Monday, but the cause of his death was not immediately made public.
After his death, tributes poured in from around the world, underlining his popularity that transcended boundaries and generations.
"India and the world have lost a giant with a giant heart," U.S. ambassador to India Eric Garcetti said on X.
"He ... was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Google GOOGL.O Chief Executive Sundar Pichai said.
Draped in the Indian national flag, Ratan Tata's body was kept at a cultural centre in Mumbai, and his funeral will be conducted later in the day with full state honours.
India's central bank governor Shaktikanta Das, Tata Sons Chairman N. Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla were among early visitors to pay their last respects to the Padma Vibhushan awardee - India's second-highest civilian honour.
A licensed pilot who would occasionally fly the company plane, Tata never married and was known for his quiet demeanour, relatively modest lifestyle and philanthropic work.
"We will remember his legacy of transformative giving to Cornell," his alma mater Cornell University said on X, calling Tata their most generous international donor.
(Reporting by Tanvi Mehta; Editing by Michael Perry)
By Tanvi Mehta
NEW DELHI, Oct 10 (Reuters) - Hundreds of people, including corporate leaders, politicians and celebrities, gathered in Mumbai on Thursday to pay their last respects to one of India's most respected business tycoons, Ratan Tata, who died aged 86.
Known for his exemplary business acumen and philanthropic nature, as chairman he led various companies under the Tata conglomerate for more than 20 years, which had revenue of $165 billion in 2023-24.
Although in recent years Tata was not as active in the day-to-day running of the group, he was consulted on big decisions by the Tata Sons leadership, a senior company executive told Reuters.
Tata had been in a Mumbai hospital since Monday, but the cause of his death was not immediately made public.
After his death, tributes poured in from around the world, underlining his popularity that transcended boundaries and generations.
"India and the world have lost a giant with a giant heart," U.S. ambassador to India Eric Garcetti said on X.
"He ... was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Google GOOGL.O Chief Executive Sundar Pichai said.
Draped in the Indian national flag, Ratan Tata's body was kept at a cultural centre in Mumbai, and his funeral will be conducted later in the day with full state honours.
India's central bank governor Shaktikanta Das, Tata Sons Chairman N. Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla were among early visitors to pay their last respects to the Padma Vibhushan awardee - India's second-highest civilian honour.
A licensed pilot who would occasionally fly the company plane, Tata never married and was known for his quiet demeanour, relatively modest lifestyle and philanthropic work.
"We will remember his legacy of transformative giving to Cornell," his alma mater Cornell University said on X, calling Tata their most generous international donor.
(Reporting by Tanvi Mehta; Editing by Michael Perry)
Chairman Emeritus Of India's Tata Group Ratan Tata In Critical Condition In Intensive Care In Mumbai Hospital- Sources
Oct 9 (Reuters) -
CHAIRMAN EMERITUS OF INDIA'S TATA GROUP RATAN TATA IN CRITICAL CONDITION IN INTENSIVE CARE IN MUMBAI HOSPITAL- SOURCES
Source text for Eikon: [ID:]
(([email protected];))
Oct 9 (Reuters) -
CHAIRMAN EMERITUS OF INDIA'S TATA GROUP RATAN TATA IN CRITICAL CONDITION IN INTENSIVE CARE IN MUMBAI HOSPITAL- SOURCES
Source text for Eikon: [ID:]
(([email protected];))
India New Issue-Tata Chemicals accepts bids for 3-year bonds, bankers say
MUMBAI, Aug 19 (Reuters) - India's Tata Chemicals TTCH.NS has accepted bids worth 17 billion rupees ($202.75 million) for bonds maturing in three years, three bankers said on Monday.
It will pay a coupon of 7.81% and had invited bids from bankers and investors for the issue earlier in the day.
Here is the list of deals reported so far on Aug. 19:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Tata Chemicals | 3 years | 7.81 | 17 | Aug. 19 | AA+ (Crisil) |
Bank of Baroda | 10 years | To be decided | 20+30 | To be decided | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 83.8470 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)
MUMBAI, Aug 19 (Reuters) - India's Tata Chemicals TTCH.NS has accepted bids worth 17 billion rupees ($202.75 million) for bonds maturing in three years, three bankers said on Monday.
It will pay a coupon of 7.81% and had invited bids from bankers and investors for the issue earlier in the day.
Here is the list of deals reported so far on Aug. 19:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Tata Chemicals | 3 years | 7.81 | 17 | Aug. 19 | AA+ (Crisil) |
Bank of Baroda | 10 years | To be decided | 20+30 | To be decided | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 83.8470 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)
India New Issue-Tata Chemicals to issue 3-year bonds, bankers say
MUMBAI, Aug 12 (Reuters) - India's Tata Chemicals TTCH.NS plans to raise 17 billion rupees ($202.5 million) through a sale of bonds maturing in three years, three bankers said on Monday.
It will pay a coupon of 7.18% and has invited bids from bankers and investors for the issue on Aug. 19, they said.
Here is the list of deals reported so far on Aug. 12:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Tata Chemicals | 3 year | 7.18 | 17 | Aug. 19 | AA+ (Crisil, CareEdge |
*Size includes base plus greenshoe for some issues
($1 = 83.9340 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
MUMBAI, Aug 12 (Reuters) - India's Tata Chemicals TTCH.NS plans to raise 17 billion rupees ($202.5 million) through a sale of bonds maturing in three years, three bankers said on Monday.
It will pay a coupon of 7.18% and has invited bids from bankers and investors for the issue on Aug. 19, they said.
Here is the list of deals reported so far on Aug. 12:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Tata Chemicals | 3 year | 7.18 | 17 | Aug. 19 | AA+ (Crisil, CareEdge |
*Size includes base plus greenshoe for some issues
($1 = 83.9340 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
Tata Chemicals Says Approved NCDs Issue Size At 17 Billion Rupees
Aug 9 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS - APPROVED NCDS ISSUE SIZE AT 17 BILLION RUPEES
TATA CHEMICALS - APPROVED NCDS ISSUANCE ON PRIVATE PLACEMENT BASIS
Further company coverage: TTCH.NS
(([email protected];))
Aug 9 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS - APPROVED NCDS ISSUE SIZE AT 17 BILLION RUPEES
TATA CHEMICALS - APPROVED NCDS ISSUANCE ON PRIVATE PLACEMENT BASIS
Further company coverage: TTCH.NS
(([email protected];))
Tata Chemicals Q1 Consol Net Profit 1.5 Bln Rupees
Aug 5 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS Q1 CONSOL NET PROFIT 1.5 BILLION RUPEES
TATA CHEMICALS Q1 CONSOL REVENUE FROM OPERATIONS 37.89 BILLION RUPEES
Source text for Eikon: ID:nBSE8jznD6
Further company coverage: TTCH.NS
(([email protected];))
Aug 5 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS Q1 CONSOL NET PROFIT 1.5 BILLION RUPEES
TATA CHEMICALS Q1 CONSOL REVENUE FROM OPERATIONS 37.89 BILLION RUPEES
Source text for Eikon: ID:nBSE8jznD6
Further company coverage: TTCH.NS
(([email protected];))
Rallis India heads for second-worst day in 2024 after downbeat Q1 profit
** Shares of Rallis India Ltd RALL.NS down 6.4% at 318.60 rupees
** Stock set for second-worst day in 2024, if losses hold
** Tata Group-owned agrochem firm's Q1 profit falls, dragged by flat rev and slightly higher expenses
** Analysts tracking RALL rate it "hold" on avg; median PT is 269 rupees - LSEG data
** Day's losses trim YTD gains to 28% vs larger competitor UPL's UPLL.NS ~7% decline
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Shares of Rallis India Ltd RALL.NS down 6.4% at 318.60 rupees
** Stock set for second-worst day in 2024, if losses hold
** Tata Group-owned agrochem firm's Q1 profit falls, dragged by flat rev and slightly higher expenses
** Analysts tracking RALL rate it "hold" on avg; median PT is 269 rupees - LSEG data
** Day's losses trim YTD gains to 28% vs larger competitor UPL's UPLL.NS ~7% decline
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
India's Tata Chemicals down, Kotak sees difficult near-term
** Shares of India's Tata Chemicals TTCH.NS down 0.8%
** Brokerage Kotak flags "difficult near-term outlook" for co
** Notes declines in businesses such as caustic soda, mainstay segment soda ash, says salt business "sole bright spot"
** However, TTCH eyes best week since early March, if trends hold
** Kotak retains "sell" rating, hikes PT to 780 rupees from 770 rupees
** Co trading at 1106 rupees, 31% higher than the median PT set by seven analysts covering the stock - LSEG data
** YTD stock had inched up 0.2% after gaining ~18% in 2023
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of India's Tata Chemicals TTCH.NS down 0.8%
** Brokerage Kotak flags "difficult near-term outlook" for co
** Notes declines in businesses such as caustic soda, mainstay segment soda ash, says salt business "sole bright spot"
** However, TTCH eyes best week since early March, if trends hold
** Kotak retains "sell" rating, hikes PT to 780 rupees from 770 rupees
** Co trading at 1106 rupees, 31% higher than the median PT set by seven analysts covering the stock - LSEG data
** YTD stock had inched up 0.2% after gaining ~18% in 2023
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
India's Tata Chemicals falls on $1.4 mln fine on UK unit
** Shares of Tata Chemicals TTCH.NS decline as much as 4.7% before trimming some losses; last down 1.8% at 1,044 rupees
** Co said a UK court imposed a fine of 1.1 mln pounds ($1.4 mln) on its unit, relating to a safety incident in 2016, which led to loss of life of a contractor
** Analysts' avg rating on stock is "sell", median PT is 843 rupees - LSEG data
** Including session's losses, stock down 1.7% YTD vs ~10% gains in the Nifty 200 index .NIFTY200
($1 = 0.7821 pounds)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Shares of Tata Chemicals TTCH.NS decline as much as 4.7% before trimming some losses; last down 1.8% at 1,044 rupees
** Co said a UK court imposed a fine of 1.1 mln pounds ($1.4 mln) on its unit, relating to a safety incident in 2016, which led to loss of life of a contractor
** Analysts' avg rating on stock is "sell", median PT is 843 rupees - LSEG data
** Including session's losses, stock down 1.7% YTD vs ~10% gains in the Nifty 200 index .NIFTY200
($1 = 0.7821 pounds)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
Tata Chemicals Says The Chester Crown Court, UK Ordered Fine Of GBP 1.1 Mln On Tata Chemicals Europe
June 6 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS LTD - THE CHESTER CROWN COURT, UK ORDERED FINE OF GBP 1.1 MILLION ON TATA CHEMICALS EUROPE
Source text for Eikon: ID:nNSE3xMlXB
Further company coverage: TTCH.NS
(([email protected];))
June 6 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS LTD - THE CHESTER CROWN COURT, UK ORDERED FINE OF GBP 1.1 MILLION ON TATA CHEMICALS EUROPE
Source text for Eikon: ID:nNSE3xMlXB
Further company coverage: TTCH.NS
(([email protected];))
India's Tata Chemicals falls on Q4 loss, demand outlook
** Shares of Tata Chemicals TTCH.NS fall as much as 4.5% to 1,050 rupees, lowest since March 26; last down 2.5%
** Co swings to Q4 loss from yr-ago profit, hurt by UK plant-related write down
** Kotak Institutional Equities says global soda ash market remains oversupplied, with no signs of meaningful recovery for now
** Stock down 2.3% YTD vs 8% gains in Nifty 200 index .NIFTY200
($1 = 83.5100 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Shares of Tata Chemicals TTCH.NS fall as much as 4.5% to 1,050 rupees, lowest since March 26; last down 2.5%
** Co swings to Q4 loss from yr-ago profit, hurt by UK plant-related write down
** Kotak Institutional Equities says global soda ash market remains oversupplied, with no signs of meaningful recovery for now
** Stock down 2.3% YTD vs 8% gains in Nifty 200 index .NIFTY200
($1 = 83.5100 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Tata Chemicals Posts March-Quarter Consol Net Loss Vs Profit Yr Ago
April 29 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS MARCH-QUARTER CONSOL NET LOSS 8.5 BILLION RUPEES VERSUS PROFIT 7.09 BILLION RUPEES
TATA CHEMICALS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 34.75 BILLION RUPEES VERSUS 44.07 BILLION RUPEES
APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES WORTH 20 BLN RUPEES
DIVIDEND 15 RUPEES PER SHARE
APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
Source text for Eikon: [ID:]
Further company coverage: TTCH.NS
(([email protected];))
April 29 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TATA CHEMICALS MARCH-QUARTER CONSOL NET LOSS 8.5 BILLION RUPEES VERSUS PROFIT 7.09 BILLION RUPEES
TATA CHEMICALS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 34.75 BILLION RUPEES VERSUS 44.07 BILLION RUPEES
APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES WORTH 20 BLN RUPEES
DIVIDEND 15 RUPEES PER SHARE
APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
Source text for Eikon: [ID:]
Further company coverage: TTCH.NS
(([email protected];))
Tata Chemicals To Consider Proposal For Issuance Of Non-Convertible Debentures On Private Placement Basis
April 24 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TO CONSIDER PROPOSAL FOR ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
Source text for Eikon: ID:nBSE1fmLYc
Further company coverage: TTCH.NS
(([email protected];))
April 24 (Reuters) - Tata Chemicals Ltd TTCH.NS:
TO CONSIDER PROPOSAL FOR ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
Source text for Eikon: ID:nBSE1fmLYc
Further company coverage: TTCH.NS
(([email protected];))
HSBC downgrades India's Tata Chemicals; sees weak Q4 for UPL, Rallis
** Brokerage HSBC downgrades Tata Chemicals TTCH.NS to "reduce" from "hold", flags weak fundamentals in soda ash segment and elevated valuations
** TTCH ends session ~4% lower, extending declines from Friday
** Expect volume- and pricing-led pressure to impact Q4 results for UPL UPLL.NS and Rallis India RALL.NS, leading to 6%-25% rev declines, brokerage says
** Retains "buy" on UPL, "reduce" on RALL; avg rating on UPLL, RALL, TTCH are "buy", "hold" and "sell" respectively - LSEG
** Adds domestic agri-chem companies likely fared better, "prefers" PI Industries PIIL.NS and Dhanuka Agritech DHNP.NS
** Sector to revive in H2CY24 after "disrupted" 2023, led by lower inventory, stable prices - HSBC
** UPLL, RALL, PIIL, DHNP close down between 1.12%-2.6%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Brokerage HSBC downgrades Tata Chemicals TTCH.NS to "reduce" from "hold", flags weak fundamentals in soda ash segment and elevated valuations
** TTCH ends session ~4% lower, extending declines from Friday
** Expect volume- and pricing-led pressure to impact Q4 results for UPL UPLL.NS and Rallis India RALL.NS, leading to 6%-25% rev declines, brokerage says
** Retains "buy" on UPL, "reduce" on RALL; avg rating on UPLL, RALL, TTCH are "buy", "hold" and "sell" respectively - LSEG
** Adds domestic agri-chem companies likely fared better, "prefers" PI Industries PIIL.NS and Dhanuka Agritech DHNP.NS
** Sector to revive in H2CY24 after "disrupted" 2023, led by lower inventory, stable prices - HSBC
** UPLL, RALL, PIIL, DHNP close down between 1.12%-2.6%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Upcoming Events:
Quarterly Results
Events:
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
More Small Cap Ideas
See similar 'Small' cap companies with recent activity
Promoter Buying
Companies where the promoters are bullish
Capex
Companies investing on expansion
Superstar Investor
Companies where well known investors have invested
Popular questions
-
Business
-
Financials
-
Share Price
-
Shareholdings
What does Tata Chemicals do?
Tata Chemicals Limited is a global manufacturer of soda ash with a focus on Basic Chemistry and Specialty Chemistry. They excel in crop protection and green patented technology like Highly Dispersible Silica, innovating in Lithium Ion cell technology.
Who are the competitors of Tata Chemicals?
Tata Chemicals major competitors are GHCL, DCW, Deepak Nitrite, Aether Industries, Jubilant Ingrevia, Archean Chem Inds, India Glycols. Market Cap of Tata Chemicals is ₹18,144 Crs. While the median market cap of its peers are ₹7,032 Crs.
Is Tata Chemicals financially stable compared to its competitors?
Tata Chemicals seems to be less financially stable compared to its competitors. Altman Z score of Tata Chemicals is 1.93 and is ranked 8 out of its 8 competitors.
Does Tata Chemicals pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Tata Chemicals latest dividend payout ratio is 119.36% and 3yr average dividend payout ratio is 93.78%
How has Tata Chemicals allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is Tata Chemicals balance sheet?
Balance sheet of Tata Chemicals is moderately strong, But short term working capital might become an issue for this company.
Is the profitablity of Tata Chemicals improving?
The profit is oscillating. The profit of Tata Chemicals is ₹247 Crs for TTM, ₹235 Crs for Mar 2025 and ₹268 Crs for Mar 2024.
Is the debt of Tata Chemicals increasing or decreasing?
Yes, The net debt of Tata Chemicals is increasing. Latest net debt of Tata Chemicals is ₹6,257 Crs as of Sep-25. This is greater than Mar-25 when it was ₹5,074 Crs.
Is Tata Chemicals stock expensive?
Yes, Tata Chemicals is expensive. Latest PE of Tata Chemicals is 82.25, while 3 year average PE is 31.93. Also latest EV/EBITDA of Tata Chemicals is 12.51 while 3yr average is 11.83.
Has the share price of Tata Chemicals grown faster than its competition?
Tata Chemicals has given lower returns compared to its competitors. Tata Chemicals has grown at ~-9.06% over the last 3yrs while peers have grown at a median rate of 2.28%
Is the promoter bullish about Tata Chemicals?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Tata Chemicals is 37.98% and last quarter promoter holding is 37.98%.
Are mutual funds buying/selling Tata Chemicals?
The mutual fund holding of Tata Chemicals is increasing. The current mutual fund holding in Tata Chemicals is 9.94% while previous quarter holding is 9.9%.
