Tata Steel reports 5% increase in sales in March quarter

Tata Steel has reported that its sales in the March quarter were up five per cent at 5.41 million tonnes (mt) against 5.15 mt. In the Netherlands, it was down marginally at 1.40 mt (1.48 mt), and in the UK, it dipped to 0.69 mt (0.76 mt). The company’s sales in Thailand were up marginally at 0.32 mt (0.31 mt).

In the financial year ended March, the company’s domestic sales increased six per cent to 19.90 mt (18.85 mt), while in the Netherlands and UK, they were down at 5.30 mt (5.2 mt) and 2.80 mt (2.95 mt). It was down at 1.12 mt (1.21 mt).

The company’s steel in India was up at 5.38 mt (5.15 mt) in the March quarter, while it was down in the Netherlands and the UK at 1.47 mt (1.53 mt) and 0.70 mt (0.74 mt), respectively. In Thailand, the company’s output was flat at 0.31 mt (0.31 mt).

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It achieved the highest annual crude steel production of 20.8 mt in India, with 4 per cent YoY growth by debottlenecking across sites and achieving higher steel production at Neelachal Ispat Nigam.

Automotive and Special Products’ segment deliveries increased by eight per cent YoY in FY2024 to 2.9 mt, aided by higher deliveries of hot and cold rolled steel to automotive OEMs.

Branded Products and Retail segment deliveries increased by 11 per cent YoY in FY2024 to 6.5 mt, primarily driven by record annual sales of Tata Tiscon, which crossed 2 m.

Deliveries in the Industrial Products & Projects segment increased 6 per cent in FY2024 to 7.7 mt. Among the sub- segments, engineering registered its best-ever annual sales, led by pre-engineered buildings and railways.

It said revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, stood at Rs 2,240 crore in FY2024 and were up 30 per cent YoY, driven by the company’s best ever 3Q and 4Q sales.

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