Tata Chemicals has received an affirmation of its credit rating from Fitch Ratings, maintaining its position at BB+ with a stable outlook. The rating agency confirmed this decision on February 6, 2026, following an update to its Corporate Rating Criteria.

Credit Rating Details

Fitch Ratings has affirmed the company's Long Term Foreign Currency Issuer Default Rating (IDR) at the BB+ level. The stable outlook reflects the rating agency's assessment of the company's creditworthiness and financial stability.

Regulatory Compliance

The company has formally notified both major Indian stock exchanges about this development. The intimation was sent to BSE Limited and National Stock Exchange of India Limited under Regulation 30(6) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The notification was signed by Jeraz E. Mahernosh, Company Secretary, ensuring compliance with mandatory disclosure requirements for listed companies.

Rating Context

The rating affirmation comes as part of Fitch's broader update to its Corporate Rating Criteria. This systematic review process allows the rating agency to reassess companies under updated methodologies while maintaining consistency in its rating approach across different sectors and geographies.

Tata Chemicals has outlined its operational timeline for international facilities, with UK operations expected to achieve near break-even status by Q4 FY26 despite facing implementation delays.

UK Operations Recovery Timeline

The company's UK operations are projected to nearly break-even by the fourth quarter of FY26, marking a significant milestone in the facility's recovery trajectory. This timeline represents a six-month delay from earlier projections, but the company remains optimistic about profitability prospects.

Kenya Soda Ash Plant Development

The company's 50 KT electric calciner soda ash plant in Kenya represents a strategic investment in sustainable production technology. The facility is targeting full operational stabilization by March 2026.

Plant Specifications and Benefits

Expected Performance Improvements

The Kenya facility is anticipated to deliver enhanced financial performance through multiple operational advantages:

• Higher EBITDA: Expected improvement in earnings driven by operational efficiencies
• Better Product Quality: Enhanced output quality from advanced electric calciner technology
• Lower Carbon Emissions: Reduced environmental impact compared to conventional production methods

The electric calciner technology represents a significant advancement in soda ash production, offering both environmental and economic benefits. The company expects these technological improvements to translate into stronger financial performance once the facility reaches full operational capacity.

Strategic Outlook

Both international operations reflect Tata Chemicals' commitment to operational excellence and sustainable production methods. The UK facility's path to profitability, despite delays, demonstrates the company's persistence in turning around challenging operations. Meanwhile, the Kenya plant showcases the company's investment in next-generation production technology that balances profitability with environmental responsibility.