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“Serving Society Through Science”

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“Serving Society Through Science” “Serving Society through Science” Low Cost Resource Base Potash Phosphate Agri Markets Nitrogen Soda Ash Detergent, Glass (Container & Float) Salt Edible / Industrial 3 Distribution Based Businesses in India Agri Inputs Agri + TKS Agri Services Swach Pulses Household Edible Salt 4 Evolving as a Low Cost Resource Play Potash Potash EPM Potash - (Trading) (Trading) Mining ~0.5* mn tn (2017) IMACID II Phosphatics Phos Acid in DAP in Haldia DAP linked to Phos (DAP in Haldia) Morocco Rock in Morocco ~1.0* mn tn (under evaluation) Nitrogenous Nitrogenous Gabon Fertiliser Fertiliser (2 lines) (Regulated) (Regulated) ~1.3* mn tn (line 1 - 2014) ~1.3* mn tn (line 2 – under evaluation) Soda Ash Natural Ash Soda Ash India Natural Ash Synthetic expansion (Synthetic) (USA + Kenya) (India + UK) (USA) ~0.4 mn tn (under evaluation) Salt Salt India Edible Salt debottlenecking (India) ~0.2 mn tn (2012) 5 * Project Capacities Evolving as a Low Cost Resource Play Investment Higher Margin in Low Cost Volumes Accretion Resources 6 The NATURAL Advantage Mithapur - Salt Tata Chemicals Magadi – Natural Soda Ash Tata Chemicals North America – Natural Soda Ash 7 The NATURAL Advantage Tata Chemicals Europe (British Salt) - Brine IMACID, Morocco – Rock Phosphate Gabon Fertiliser Unit – low energy cost – potential to be one of the lowest cost urea manufacturing facilities in the world 8 Extensive and Efficient Distribution Pan India network of Pesticides 2252 distributors and 40,045 retailers Fertilisers Strong reach to rural markets 150 districts Rural across 7 states. 700+ Specialty & Customised dealers and 1.2 lakhs Fertiliser villages covered 700+ franchise retail TKS outlets Edible and Industrial Pan India reach to ~6.5 crore Salt households Urban through 11.3 lakh retail outlets Swach & Pulses 9 Customer Profile Consumer • Salt Product • Swach Business • Farm Output Agri Inputs • Fertilisers – Controlled • Agri Inputs – Non-Controlled • FMCG Customers (Detergent Chemicals & Container Glass) • Construction and Automobile (Glass) 10 Consumer • Salt Product • Swach Business • Farm Output Agri Inputs • Fertilisers – Controlled • Agri Inputs – Non-Controlled • FMCG Customers (Detergent & Chemicals Container Glass) • Construction and Automobile (Glass) 11 Consumption Growth - India Rising Disposable Income Consumption Growth (Per Capita USD) (Per Capita USD) 1,647 1,108 1,077 746 2010(F) 2014(F) 2010(F) 2014(F) Source: EIU Opportunity for sustainable growth by meeting demand through products backed by technology and Innovation 12 Consumer Products Business Tata Chemicals is the market leader with 62% market share in the Edible salt national branded segment Tata Salt holds the number one position with market share of about 46.5% - reaches ~6.5 crore households every month through 11.3 lakh outlets I-Shakti market share at about 17% of national branded category - reaches close to 5 lakh outlets across India Additional 200K TPA capacity expected by March 2012 (estimated cost: ` 80 crore) ICIS award Tata Swach a path breaking innovation – available at price points of ` 1,199 and ` 899 – replacement bulbs at ` 349 Tata Swach sales at 414,000 units STABLE & RECESSION Available across 9 states PROOF BUSINESS 13 Consumer Products Business – i-Shakti Pulses India's first National brand of pulses – “i-Shakti dals” - launched 4 popular varieties of pulses (Chana, Toor, Urad & Moong) i-Shakti dals sales at over 1,000 tonnes for FY2011 Currently present in 3 states - to be rolled out to over 12 states during FY2012 Tata Chemicals’ ‘Farm to Fork’ approach Farm: Strong linkages with the farmer through expansive & well entrenched networks of Tata Kisan Sansars and Rallis Kutumba (catering to 3 million farmers) Fork: Established food retail presence through Tata Salt and I Shakti covering a total of around 1.8 million outlets Thrust on offering quality and hygienic pulses at an affordable price Endeavoring to work closely with state governments across the country. Presently working on the Tamil Nadu government’s Grow More Pulses Program with Rallis 14 Consumer • Salt Product • Swach Business • Farm Output Agri Inputs • Fertilisers – Controlled • Agri Inputs – Non-Controlled • FMCG Customers (Detergent & Chemicals Container Glass) • Construction and Automobile (Glass) 15 Agri Growth Indicators Food demand to grow with rising . and given competing uses, land population and increasing awareness under cultivation cannot of nutrition needs increase significantly Permanent Food Demand Crops: Growing 1.9x 850 demand for fruits & horticulture, 440 7% Arable Land, 49% Residential (Rapidly Growing Population), 19% 100% = 329 million hectares 329 million= 100% Million metric tonnes metric Million Forestry: Environment Regulation, 25% 2007 2020 Source – ICRIER; NSSO, Ministry of Statistics, Mckinsey Study At 49%, India has the one of the largest proportion of arable land 16 Urea Spot Price 500 Finished Goods – Urea Price Trend (USD) 450 400 400 350 350 327 317 283 293 300 281 279 250 200 150 100 50 - Q2 FY11 Q2 Q1 FY10Q1 FY10Q2 FY10Q3 FY10Q4 FY11Q1 FY11Q3 FY11Q4 Source: Industry Estimates – Prices FOB Arabian Gulf International prices ranging between ~USD 275 to ~USD 500 17 Production & Deliveries Urea Production & Sales Volumes 400 (‘000 MT) Plant operating at full capacity 300 utilization 200 100 Urea de-bottlenecking of 0 50-100K tonnes under review Q2 FY10Q2 FY10Q3 FY10Q4 FY11Q1 FY11Q2 FY11Q3 FY11Q4 Q1 FY10Q1 Urea Realizations 11,500 50% Production Sales (`/ MT) 11,000 40% 10,500 Babrala II – Currently on hold, 10,000 30% 9,500 20% 9,000 awaiting policy clarity on gas 10% 8,500 allocation and pricing 8,000 0% Q1 FY10Q1 FY10Q2 FY10Q3 FY10Q4 FY11Q1 FY11Q2 FY11Q3 FY11Q4 Realizations Contribution STABLE & RECESSION PROOF BUSINESS 18 Republic of Gabon (RoG) RoG Snapshot An oil rich country in Equatorial West Africa Spread across 267,667 kms Population: 1.5 million Economy dominated by oil & mining Third highest GDP in Sub-Saharan Africa: USD 14,000 (2009 est.) Sovereign Rating similar to Philippines: BB- (S&P) 19 Key Investment Highlights Entered into a competitive fixed price feedstock agreement with RoG to ultimately set-up 2 streams of 1.3 MTPA Urea - Execution activity at Stream 1 commenced and expected to be commissioned in 36 months Time schedule for stream 2 execution to be mutually decided by Olam, RoG & TCL over next 24-36 months Olam, RoG and TCL to setup a sales and marketing JV for selling entire output. Olam and TCL to hold equal stake. Up to 25% of the output reserved for Indian markets (subject to de-canalization in India) TCL to provide Project Management Consultancy and O&M services Due diligence on gas reserves underway 20 Funding Strategic investment of USD 290 million to acquire 25.1% stake in stream 1 to set-up Greenfield port-based ammonia-urea Fertiliser manufacturing complex in Republic of Gabon (RoG) - Balance share held by RoG (12%) & Olam (62.9%) Funding through: USD 82 million raised by the preferential share allotment to Tata Sons Sale of Investments worth USD 68 million over the next three years Debt funding of USD 140 million 21 Project Highlights Leveraging Olam’s Strategically located network for developing near Gabon’s main local Urea markets at sea port higher realizations Potentially a low cost Urea manufacturing facility globally 10 Year Tax holiday Expected yearly after commencement of EBITDA of USD 300– commercial production 350 Million per stream and 10% concessional rate thereafter 22 Technical Advisory Service Agreement with Notore Chemicals, Nigeria Notore is in the business of manufacturing Urea and owns a KBR ammonia plant and a Stamicarbon Urea plant The Notore plant presently has a capacity of 350,000 metric tonnes (MT) of Ammonia per annum, 500,000 MT of Urea per annum and 650,000 MT of blended NPK There is no investment involved at present by TCL in Notore Chemicals TCL’s fees are linked to improvement in the output from the plant performance. Testimony to TCL’s expertise and capabilities in the Urea business 23 DAP & NPK Spot Price 1,050 Phosphoric Acid Price Trend (USD) Study underway to double phos acid 1,000 830 758 778 780 capacity along with ~ 1 million TPA 800 630 567 DAP capacity 600 509 523 400 Subsidy rates for DAP and MOP have 200 been increased to USD 612 and USD 390 respectively Q1 FY10Q1 FY10Q2 FY10Q3 FY10Q4 FY11Q1 FY11Q2 FY11Q3 FY11Q4 Finished Goods – DAP Price Source: Industry Estimates 800 Trend (USD) 700 657 DAP prices continue to harden led by 600 600 468 496 rising input and energy costs 500 456 400 305 313 307 Higher input prices placing strain on 300 operations 200 Q4 FY11 Q4 Q1 FY10Q1 FY10Q2 FY10Q3 FY10Q4 FY11Q1 FY11Q2 FY11Q3 24 Source: Industry Estimates Production & Deliveries Haldia DAP Production & Sales (‘000 MT) 100 IMACID stake safeguards 80 60 assured supply of phosphoric 40 20 acid 0 Q1 FY10Q1 FY10Q2 FY10Q3 FY10Q4 FY11Q1 FY11Q2 FY11Q3 FY11Q4 Production Sales Haldia DAP Realizations & Contribution (`/MT) 30,000 25% 25,000 20% 20,000 15% 15,000 10% 10,000 5% 5,000 0% 0 -5% Q2 Q2 FY10 Q3 FY10 Q4 FY10 Q1 FY11 Q2 FY11 Q3 FY11 Q4 FY11 LOW CAPITAL BUSINESS Q1 FY10 25 Realizations Contribution Production & Deliveries Haldia NPK Production & Sales (‘000 MT) 150 Low subsidies combined with 120 90 higher input cost hindering 60 volume growth 30 0 Q3 FY10 Q3 Q1 FY10Q1 FY10Q2 FY10Q4 FY11Q1 FY11Q2 FY11Q3 FY11Q4 Production Sales Haldia NPK Realizations & Contribution (`/MT) Targeting to expand the 30,000 20% 25,000 10% SSP capacity by 50K TPA – 20,000 15,000 0% 10,000
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