Tata Steel announced that its domestic crude steel production during the second quarter of FY25 stood at 5.27 million tons, up 5 per cent in comparison to 5.02 million tonnes during the same period last year. The company recorded India delivery volumes at 5.10 million tons, posting a growth of 5.8 per cent from 4.82 million tons during the corresponding period of previous year, broadly in line with the growth in production, it said in a regulatory filing.
On a half yearly basis, crude steel production was up 4.9 per cent at 10.53 mt while sales increased by 4.5 per cent YoY.
During the quarter, Automotive & Special Products vertical deliveries were marginally lower on YoY basis. However, on a half year basis, deliveries were broadly stable YoY at around 1.6 million tons. The domestic branded products and retail vertical deliveries rose by 3 per cent YoY driven by performance of well established brands. Tata Tiscon deliveries were up 20 per cent YoY leading to ‘best ever Q2 sales’, Tata Steel said. On a half year basis, deliveries were up 4 per cent YoY to 3.3 million tons. Industrial Products & Projects vertical deliveries for the quarter increased by 4 per cent YoY, posting a strong growth across value accretive segments, especially Engineering. On a half year basis, deliveries were broadly stable on YoY basis at around 3.6 million tons.
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Further, revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, came in at Rs 1,263 crore. Tata Steel said that the growth has been aided by various strategic initiatives including migration to inhouse transaction platform.
In September 2024, Tata Steel India successfully commissioned India’s largest blast furnace at Kalinganagar. With ramp up of Kalinganagar facilities, it said, India crude steel capacity will increase to 26.6 MTPA.
Global operations
The company released its provisional business updates wherein it stated that the company’s UK production declined by 50 per cent at 0.38 mt as against 0.76 mt YoY. Tata Steel UK deliveries came in at 0.64 mt, down 12.3 per cent as against 0.73 mt YoY. Operations have ceased at the remaining blast furnace at Port Talbot paving the way for the next generation of green steelmaking.
Tata Steel Netherlands posted production at 1.68 mt, recording a growth of 41.2 per cent on-year. Delivery volumes for the period were at 3.04 mt, which was up 16.9 per cent on YoY basis.
And Tata Steel Netherlands recorded crude steel production at 1.68 mt which was up 41.2 per cent as compared to the same period last year. Delivery volumes for the period stood at 3.04 mt.
From: financialexpress
Financial News
