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Tata Steel: 3QFY2024 Production and Delivery Volumes (Provisional)

Tata Steel: 3QFY2024Production and Delivery Volumes (Provisional)

§  In 3QFY24, Tata Steel India crude steel productionstood at5.32 million tons and was up6% on QoQ as well asYoY basis. For the 9MFY24, crude steel production increased by 4% YoY.

§  Tata Steel India deliveries stood at 4.88 million tonsand were ‘best ever 3Q’ sales. The increase on QoQ and YoY basis was primarily driven by rise in domestic deliveries (+3% QoQ and +10% YoY) given continued strength in India steel demand. For 9MFY24, Tata Steel India registered best everdeliveries, which were higher by 6% on YoY basis.

§  Key segment highlights of domestic deliveries for the quarter:

o    ‘Automotive & Special Products’ segment deliveries increased by around 8% QoQ and 22% YoY. The QoQ increase was driven by best ever 3Q sales despite marginal decline in vehicle production.Tata Steel has received the “GreenPro Ecolabel” certification for its automotive flat steel products.

o    ‘Branded Products & Retail’ segment deliveries were broadly stable QoQ but up 11% YoY. This was driven by best ever 3Q sales of well-established brands-Tata Tiscon,Tata Steelium and Tata Astrum.During the quarter, Tata Tiscon volumes grew by 10% QoQ and 18% YoY

o    ‘Industrial Products & Projects’ segment deliveries increased by around 5% QoQ and6% YoY.Among sub segments, engineering registered best ever quarterly sales.

o    Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders,stood at  Rs. 572 crores in 3QFY24 andwere up 38% YoYdriven by best ever 3Q sales. For the 9MFY24, revenues crossed Rs 1,600 crores and were up 13% YoY.

§  Tata Steel Netherlands liquid steel production for the quarter stood at 1.17 mn tonsand deliveries were at 1.29 mn tons, up 5% QoQ. On YoY basis, production and deliveries were lower due to the relining of one of the blast furnaces.

§  Tata Steel UK liquid steel production for the quarter stood at 0.73 mn tons and was marginally lower on QoQ basis due to operational issues. Deliveries stood at 0.63 mn tons and were lower on QoQ and YoY basis due to subdued demand dynamics.


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