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Transform Grow Transform Grow 79th Annual Report 2017-18 About this report Tata Chemicals seeks to go beyond compliance in its corporate reporting. Alongside statutory declarations, this Annual Report includes non-nancial information that is disclosed on a voluntary basis in accordance with the Integrated Reporting <IR> framework of International Integrated Reporting Council (IIRC). Assurance on nancial statements has been provided by independent auditors B S R & Co. LLP and non- nancial statements by Ernst & Young LLP. Monitoring marine turtle mortality and nesting along the Okhamandal coast Contents Integrated Report Introduction 2 Ethics 39 Highlights at a glance 3 Peoples practices 40 Company overview 4 Community 42 MD's message 6 Sustainability 46 Performance highlights 7 Risks 49 Materiality 8 Board of Directors 50 Value creation 10 Management team 52 Strategy and KPIs 12 Basis of report preparation 53 Forward looking statements 53 Consumer products Assurance notice 54 Business overview 16 Results at a glance 56 Case study 20 Statutory Reports Basic chemicals Business overview 22 Board’s report 58 Case study 26 Management discussion and analysis 91 Case study 27 Corporate governance report 108 Business responsibility report 123 Nutritional solutions Business overview - Nx 28 Financial Statements Business overview - NQ 32 Standalone financial statements 135 Agri solutions Consolidated financial statements 190 Case study 34 Form AOC – 1 263 Case study 35 Notice 265 Innovation 36 Financial statistics 283 Saftey and Health 38 Attendance slip/proxy form Transform Grow The world around us is changing rapidly. Forces are combining to disrupt old orders and create exciting new opportunities. We are on the cusp of a digital-led new industrial revolution. Digital technologies give us unprecedented access allowing us to track our operations at levels previously unavailable. This helps to understand customers better, and to deliver products and services more tightly aligned to their individual needs. At the same time, we are experiencing a moment of change, as a young generation born, into a globalised world, takes its place as employees, wage earners, consumers and decision-makers. Those young people are reimagining many aspects of life. They are health conscious and demand healthier food products. They want to deal with companies that share their vision and can show a sense of purpose beyond commercial prot. They discard traditional markers of success. So we nd ourselves at a moment of transformation. It is exciting and has immense potential. At Tata Chemicals, we have prepared ourselves for this new era by restructuring our portfolio and investing in the industries of tomorrow. We have taken decisions that allow us to participate in this transformation and to begin a new era of growth. We believe it has the potential to benet all stakeholders. This integrated annual report explains in detail what we have achieved and the growth we anticipate. 4 Annual Report 2017-18 Spotlight Global footprint Financial performance Our global supply chain allows us to service our customers eectively across the world. Segment revenue - consolidated (%) Integrated Report Winnington, Lostock and Middlewich, UK Green River Basin, Wyoming, USA Jorf Hasfar, Morocco (JV), North Africa India Magadi, Kenya Segment results PBIT - Statutory Reports consolidated (%) Mithapur, Gujarat Manufacturing facilities Innovation Centre locations Innovation Centre, Pune Sriperumbudur, Tamil Nadu Bengaluru, Karnataka Business sectors Financial Statements • Inorganic chemicals • Consumer products Geographical revenue - • Specialty products - nutritional solutions, advanced materials consolidated (%) and agri inputs (agro chemicals and seeds) TCL TCNA TCE TCM 2,327 551 385 251 Our consolidated business has ~5,000 employees, TCIPL TCSA Rallis Metahelix including Rallis and Metahelix. 3 11 977 443 7% TCNA - Tata Chemicals North America, TCE - Tata Chemicals Europe, TCM - Tata Chemicals Magadi, TCIPL - Tata Chemicals International, TCSA - Tata Chemicals South Africa Highlights at a glance 3 Company overview We are a diverse but closely integrated set of people and businesses with a shared mission to serve society through science. On the path to transforming Established in 1939, Tata Chemicals diversied natural soda ash manufacturer. our businesses Limited (TCL or the Company) is a global Through two subsidiaries, Rallis India chemicals company serving the needs of Limited (Rallis) and Metahelix Life Completed sale and transfer of Urea industry, consumers and the agricultural Sciences Limited (Metahelix), we provide Business (Babrala) to Yara Fertilisers India sector. The Company manufactures innovative products and services to the Private Limited in January 2018 inorganic chemicals, consumer products, Indian farm sector. Rallis has a portfolio crop protection and agriculture inputs, of crop protection chemicals, seeds, plant Divested Phosphatic fertiliser and trading and nutritional solutions. We serve growth nutrients, soil conditioners and business (Haldia) to IRC Agrochemicals Private Limited a varied set of customers across ve agri-services and serves the international continents with employees spread across market through contract manufacturing Invested in knowledge-led businesses by four regions. and registration based sales. Metahelix is signing Memorandum of Understanding a world-class biotechnology innovator in (MoU) with Government of Andhra Our approach to business is the eld of seed hybridisation. Pradesh to invest in a greeneld • Delivering high performance biotechnology manufacturing unit for for stakeholders In the last 79 years, our deep-rooted food ingredients and formulations • Caring for the community values along with our cultural pillars • Nurturing a committed and have kept us focused on our mission Greeneld project under passionate workforce to accomplish our vision. construction in Nellore, Andhra Pradesh for a manufacturing plant of fructooligosaccharides with Growing our businesses Values installed capacity of 5,000 MT of Through our consumer products portfolio, Safety, Passion, Integrity, FructoOligosaccharides (FOS) with a we have positively impacted the lives of Care and Excellence. total investment of ` 270 crore millions of Indians through the iodised and Iron fortied Tata Salt. The Tata Commitment to invest ` 295 crore for Sampann umbrella brand focuses on Cultural pillars manufacturing silica based products providing everyday nourishing food Proactive cost focus, to consumers such as unpolished high Agile execution, Acquired the precipitated silica business protein dals, low oil absorb besan, and a Collaborative innovation and of Allied Silica Limited in Cuddalore, Tamil wide range of uniquely developed spices. Trusting relationships. Nadu for upto ` 123 crore to manufacture Our nutritional solutions business through Highly Dispersible Silica (HDS) and other silica based products developed at our its umbrella brands NQ and Nx provides Innovation Centre innovative range of prebiotics and Mission healthier alternatives to regular sugar. Serving society through Handling the water purier business as science. a FructoOligosaccharides (CSR) initiative Our inorganic chemicals business is a to serve communities that do not have specialised manufacturer of soda ash, Vision access to clean drinking water sodium bicarbonate and allied products. To be a sustainable Company These are consumed as inputs to diverse with deep customer insights Launched Multigrain Khichdi, Nutri Mix industries such as glass, detergents, and engaging relationship Chillas, and Organic pulses with Star textiles, feed, mining and chemical with all stakeholders in Bazaar and Amazon in Mumbai, Pune, processing across the globe. The global industrial chemicals, branded Bengaluru, Hyderabad, Delhi NCR, Kolkata chemicals business has a competitive agriculture and consumer Launched MedikarbTM, India’s rst branded advantage, as it is the world’s most products. pharmaceutical-grade sodium bicarbonate 4 Annual Report 2017-18 Ownership structure of Tata Chemicals Organisational structure - our businesses Product prole TCL Soda ash, allied chemicals, sodium bicarbonate, cement, and advance Chemicals materials. TCE Integrated Report Light soda ash, sodium bicarbonate, sodium chloride, calcium chloride, crex, and heavy soda ash TCNA Dense soda ash, natural light soda ash, and synthetic light soda ash TCML Dense soda ash, crushed rened soda, sodium bicarbonate, dry industrial salt, and fortied animal salt. Consumer Product prole Products Awards Tata Salt, Tata Salt Plus, Tata Salt Lite, Rock Statutory Reports Salt and Black Salt, Tata Sampann Dals, • Tata Salt ranked 3rd Most Trusted Food Tata Sampann Besan, Tata Sampann Spices Brand in Economic Times' Survey 2017 (Tata Swach non-electric water purier) • Recognised as Asia and India’s Most Admired Knowledge Enterprise 2017 • Awarded at the CFBP Jamnalal Bajaj Award for Fair Practices 2017 Nutritional • Number 1 in Responsible Business Product prole Solutions Rankings 2017 Nutritional solutions, SustentialsTM brand, • Tata Chemicals won at the wellness foods, prebiotic products, Confederation of India Industry (CII) GossenceTM, FossenceTM, Tata Nx Lite & Industrial IP Awards 2017 as the Sweet, Tata Nx Zero Sugar Trademarks Driven Industry of the year • TCL’s Corporate Social Responsibility team won the Best Practice Award on Financial Statements Agricultural Sustainable Development Goals of UN Solutions Global Compact Network India • Tata Chemicals Mithapur
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