Tata Steel India Q1 sales jump 42% to 4.15 million tonnes
05 Jul 2021
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Tata Steel has reported a 42 per cent jump in sales in the April-June 2021-22 quarter to 4.15 million tonne against 2.93 million tonnes in the comparable period last year. Domestic steel production was up 55 per cent to 4.62 million tonnes despite the impact of the lockdown imposed amid two consecutive waves of Wuhan virus attack since last year.
The company said its exports increased to 16 per cent of total sales aginst 11 per cent in the March quarter, offsetting the impact of lower domestic demand. The domestic market has been improving since mid-June with the easing of lockdowns, the company added.
Tata Steel’s India deliveries increased by 42 per cent year-on-year led by automotive and special products’ segment deliveries which increased seven-fold againt the estimated three-fold increase in automotive OEM production in Q1FY22.
‘Branded Products & Retail’ segment deliveries were higher by 112 per cent YoY. B2C brand Tata Tiscon has become the first rebar brand in India to receive GreenPro certification.
‘Industrial Products and Projects’ segment deliveries increased two-fold YoY. Sales of value-added products to key segments like pre-rngineered buildings, O&G, agricultural implements grew 175 per cent YoY.
Tata Steel Aashiyana, an e-commerce platform for individual home builder, grew revenues seven-fo;d YoY to Rs257 crore.
During the quarter, crude steel production decreased 2.6 per cent on a sequential basis due to supply of over 47,800 tonnes of liquid medical oxygen to hospitals amidst the second wave of the Wuhn virus pandemic. Steel deliveries declined 11 per cent compared to the previous quarter due to partial lockdowns announced by some states and temporary shutdowns in a few steel consuming sectors amidst the second wave of the pandemic.
To offset the impact, exports were increased to 16 per cent of the total sales from 11 per cent in te previous quarter. The domestic market has been improving since mid-June with easing of lockdowns.
Tata Steel Southeast Asia’s steel production grew 49 per cent YoY while steel deliveries increased by 50 per cent YoY.
Tata Steel India has been one of the major suppliers of medical grade oxygen for the fight against te pandemic, Besides it has undertaken several vaccination drives at all of its operating locations.
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