Tata Steel India crude steel production stood at 4.92 million tons, a growth of 6% YoY
Tata Steel: 1QFY23 Production and delivery volumes (Provisional)
Mumbai, July 05, 2022
§ In 1QFY23, Tata Steel India crude steel production stood at 4.92 million tons, a growth of 6% YoY. Deliveries at 4.06 million tons, were lower by 2% YoY due to moderation in exports following the imposition of 15% export duty. However, Domestic deliveries were ramped up leveraging our strong marketing network & agile business model and increased by 5% YoY.
§ Key segment highlights of domestic deliveries are:
o ‘Automotive & Special Products’ segment deliveries increased by 22% YoY on broad based recovery across all sub-segments.
o ‘Branded Products & Retail’ segment deliveries were broadly similar. Tata Tiscon registered its best ever first quarter sales enabled by expanded physical and virtual reach.
o ‘Industrial Products & Projects’ segment deliveries increased by 8% YoY, primarily driven by increase in sales of value-added products to key segments like Engineering etc.
o Revenues from Tata Steel Aashiyana during the quarter, an e-commerce platform for Individual Home builders, grew by 77% YoY to Rs. 457 crores.
§ Tata Steel Europe steel production was up 5% QoQ but was lower on YoY basis. Total deliveries stood at 2.16 mn tons and were lower on YoY basis in line with production.
§ Tata Steel continues to closely monitor the resurgence of COVID-19 cases and take appropriate actions in line with the directions issued by the regulatory authorities keeping in view the health and safety of its employees and the community and the interests of its customers and other stakeholders.