Quarter ended 31 March, 2017 (Unaudited)

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1 Tata Chemicals Limited Regd. Office: Bombay House, 24 Homi Mody Street, Mumbai Statement of Consolidated Financial Results for the quarter and year Revenue from operations Other income Total Income (+2) Expenses a) Cost of materials consumed b) Purchase of stock-in-trade c) Changes in inventories of finished goods, work-in-progress and stock-intrade d) Excise duty on sale of goods e) Employee benefits expense f) Power and fuel g) Freight and forwarding charges h) Finance costs i) Depreciation and amortisation expense j) Other expenses Total expenses (4a to 4j) Profit before share of profit of an associate and joint ventures and tax (3-4) Share of profit / (loss) of an associate and joint ventures (3.66) Profit before tax (5+6) Tax expense Profit for the period from continuing operations after tax (7-8) Equity shareholders of the Company Non-controlling interests Profit from discontinued operation (note 4) Tax expense of discontinued operation (note 4) Profit from discontinued operation after tax (0-) (note 4) Equity shareholders of the Company Non-controlling interests Profit for the period (9+2) Equity shareholders of the Company Non-controlling interests Other Comprehensive Income ("OCI") (44.84) (32.70) Equity shareholders of the Company (90.66) (32.) (87.59) Non-controlling interests (87.84) (0.59) (26.33) Total Comprehensive Income (3+4) Equity shareholders of the Company Non-controlling interests (55.46) Paid-up equity share capital (Face value : ` 0 per Share) Total equity (excluding paid-up equity share capital) Earnings per share for continuing operations (in `) - Basic and Diluted 9.74* 9.0* 7.52* Earnings per share for discontinued operation (in `) - Basic and Diluted 2.45*.24* 0.39* Earnings per share for continuing and discontinued operations (in `) - Basic and Diluted 2.9* 0.34* 7.9* * Not annualised Segment information and Balance Sheet annexed See accompanying notes to the consolidated financial results

2 Consolidated Unaudited Segmentwise Revenue, Results, Assets and Liabilities As at April, Segment Revenue a. Inorganic chemicals b. Fertilisers c. Other agri inputs d. Others Less: Inter segment revenue Add: Unallocated Total revenue from operations Segment Results a. Inorganic chemicals b. Fertilisers (20.05) c. Other agri inputs d. Others (8.09) (3.09) (33.55) (86.25) (47.57) Total segment results Less: (i) Finance costs (ii) Net unallocated expenditure / (income) (24.30).4 (8.99) Total profit before tax Segment Assets a. Inorganic chemicals b. Fertilisers c. Other agri inputs d. Others Total segment assets Add: Unallocated Total assets Segment Liabilities a. Inorganic chemicals b. Fertilisers c. Other agri inputs d. Others Total segment liabilities Add: Unallocated Total liabilities Note : The segment information stated above does not include the following information relating to discontinued operation as stated in note 4 of the financial results. As at April, Segment Revenue Segment Results Segment Assets Segment Liabilities

3 Consolidated Audited Balance Sheet As at As at As at April, I. ASSETS () Non-current assets (a) Property, plant and equipment (b) Capital work-in-progress (c) Goodwill on consolidation (d) Intangible assets (e) Intangible assets under development (f) Investments in associate and joint ventures (g) Financial assets (i) Other investments (ii) Loans (iii) Other financial assets (g) Deferred tax assets (net) (h) Advance tax assets (net) (i) Other assets Total non-current assets (2) Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Other financial assets (c) Current tax assets (net) (d) Other assets Assets classified as held for sale and discontinued operations Total current assets Total assets II. EQUITY AND LIABILITIES () Equity (a) Equity share capital (b) Other equity Equity attributable to equity share holders of the parent Non-controlling interests Total equity (2) Liabilities Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Other financial liabilities (b) Provisions (c) Deferred tax liabilities (net) (d) Other liabilities Total non-current liabilities Current liabilities (a) Financial liabilities (i) Borrowings (ii) Trade payables (iii) Other financial liabilities (b) Provisions (c) Current tax liabilities (net) (d) Other liabilities Liabilities directly associated with discontinued operations Total current liabilities Total liabilities Total equity and liabilities

4 Notes to the Consolidated Financial Results: 2 The above results were reviewed and recomm to the Board of Directors by the Audit Committee at its meeting held on 25 May, and approved by the Board of Directors at its meeting held on 26 May,. The same have been audited by the Statutory Auditors. These financial results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards ("Ind AS") as presented under Section 33 of the Companies Act, 203 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India as applicable. The interest component of the defined employee benefit obligations has been reclassified as finance cost based on accounting policy adopted by the Group, in the first annual Ind AS financial statements, corresponding changes have been made for comparative periods. 3 Reconciliation between Equity, Statement of Profit and Loss and Other comprehensive income as previously reported in accordance with the Accounting Standard framework (referred to as "Previous IGAAP") and Ind AS are presented as under: (a) Reconciliation of Equity: As at March As at April Total Equity under Previous GAAP (A) Effect of change in fair value of derivative contracts (59.78) (59.50) 2. Adjustment of goodwill relating to acquisition post obtaining control (63.32) - 3. Effect of change in fair value of equity instruments Deferred tax liability on undistributed earnings of subsidiaries (23.93) (5.28) 5. Adjustment of proposed dividend and tax thereon Effect of retrospective application of Ind AS 03 to past business combinations Others 2.86 (.36) Total adjustment to equity (net of tax) (B) Total Equity under Ind AS (A+B) (b) Reconciliation of Statement of Profit and Loss and Other Comprehensive Income: Net Profit after tax, share of profit / (loss) in associate and joint ventures as previously reported. Effect of actuarial (loss)/gain on employee defined benefit plans recognised in OCI (0.22) Effect of change in fair value of derivative contracts (2.50) Effect of depreciation due to fair valuation of assets under business combinations (2.0) (99.67) 4. Effect of assessment of control Others (net) Tax impact on above adjustments (9.93) (.42) Net Profit after tax, share of profit / (loss) in associate and joint ventures as per Ind AS Other comprehensive income (32.70).06 Total comprehensive income for the period The Group has entered into an agreement with Yara Fertilisers India Private limited ("Yara India") to transfer its Urea Business (which comprises of manufacturing facilities for urea and customised fertilisers at Babrala, Uttar Pradesh), by way of a slump sale for a consideration of ` 2,670 crore (subject to certain adjustments). Final approval of The Scheme of Arrangement (the "Scheme") from National Company Law Tribunal ("NCLT") is awaited. The effect of the transfer will be reflected in the financial information of the period in which the deal is consummated post receipt of all the requisite regulatory approvals. During the year, there has been a dilution in stake from 9.47% to 4.80% with respect to Crystal Peak Minerals Inc. Consequently, the Group has discontinued equity method of accounting for the same. During the year, Rallis India Limited ("Rallis"), a subsidiary of the Company, has acquired the balance 9,42 shares of ` 0/- each of Zero Waste Agro Organics Limited ("ZWAOL") for a consideration of ` 9.49 crore. As a result, ZWAOL has become a wholly owned subsidiary of Rallis. The figures for quarter and are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto nine months of the relevant financial year. The Board of Directors has recomm a dividend of 0 % (previous year 00 %) for the financial year -7, amounting to ` per share (previous year ` 0 per share).

5 Notes to the Consolidated Financial Results: 9 The standalone audited financial results of the Company are available for investors at and In terms of our report attached For DELOITTE HASKINS & SELLS LLP Chartered Accountants For and on behalf of TATA CHEMICALS LIMITED Sanjiv V. Pilgaonkar Partner R. Mukundan Managing Director and CEO Place : Mumbai Date : 26 May,

Quarter ended 31st March, 2016 (Unaudited)

Quarter ended 31st March, 2016 (Unaudited) Particulars 1 Income from operations a) Net sales / Income from operations (Net of excise duty) 3976.27 4596.67 3657.89 17537.09 16912.56 b) Other operating income 30.69 40.68 85.40 171.05 291.92 Total