Posted on 08 Oct 2024
Tata Steel (TSL) India’s crude steel production increased by 5% on-year to 5.27 million tonnes in its second quarter (July-September) of its current fiscal year (FY25), Kallanish notes from provisional results filed on 6 October.
Deliveries were up by 5.8% y-o-y in Q2 to 5.10mt, with domestic deliveries also up by 5% y-o-y to 4.9mt “broadly in line with the growth in production” Tata said.
The company’s crude steel production increased by 5% y-o-y to 10.53mt between April-September (H1) of FY25. Deliveries increased by 4% y-o-y to 10.04mt during the same period.
The automotive and special products segment deliveries were marginally lower in Q2 on a year-on-year basis. However, its deliveries were “broadly stable y-o-y” at around 1.6mt in H1.
Branded products and retail segment deliveries rose by 3% y-o-y in Q2, largely driven by the performance of its well-established brands, it said.
The company’s Tata Tiscon deliveries increased by 20% y-o-y, which led to its best-ever Q2 sales. H1 deliveries were up 4% on-year to 3.3mt.
The industrial products and projects segment deliveries increased by 4% y-o-y in Q2 “with strong growth across value accretive segments, especially engineering”. H1 deliveries were stable on a y-o-y basis, at 3.6mt.
The revenues generated from its e-commerce platform for individual home builders, Tata Steel Aashiyana, stood at INR 12.63 billion ($150.4 million) reaching record high figures in H1.
In September, the company commissioned India’s largest blast furnace at Kalinganagar plant in Odisha, increasing crude steel from 3 mt/year to 8m t/y, as part of its phase 2 expansion plans (see Kallanish Passim).
The Kalinganagar facilities ramp up will increase its India crude steel capacity to 26.6mt/y.
Source:Kallanish
