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In 3QFY24, Tata Steel India crude steel production stood at 5.32 million tons, up 6% on QoQ as well as YoY basis
2024-12-24 09:45:10
Industry
1083
Tata Steel India deliveries stood at 4.88 million tons and were 'best ever 3Q' sales. The increase on QoQ and YoY basis was primarily driven by rise in domestic deliveries (+3% QoQ and +10% YoY) given continued strength in India steel demand. For 9MFY24, Tata Steel India registered best ever deliveries, which were higher by 6% on YoY basis.
§ Key segment highlights of domestic deliveries for the quarter:
o 'Automotive & Special Products' segment deliveries increased by around 8% QoQ and 22% YoY. The QoQ increase was driven by best ever 3Q sales despite marginal decline in vehicle production. Tata Steel has received the "GreenPro Ecolabel" certification for its automotive flat steel products.
o 'Branded Products & Retail' segment deliveries were broadly stable QoQ but up 11% YoY. This was driven by best ever 3Q sales of well-established brands - Tata Tiscon, Tata Steelium and Tata Astrum. During the quarter, Tata Tiscon volumes grew by 10% QoQ and 18% YoY
o 'Industrial Products & Projects' segment deliveries increased by around 5% QoQ and 6% YoY. Among sub segments, engineering registered best ever quarterly sales.
o Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, stood at Rs. 572 crores in 3QFY24 and were up 38% YoY driven by best ever 3Q sales. For the 9MFY24, revenues crossed Rs 1,600 crores and were up 13% YoY.
§ Tata Steel Netherlands liquid steel production for the quarter stood at 1.17 mn tons and deliveries were at 1.29 mn tons, up 5% QoQ. On YoY basis, production and deliveries were lower due to the relining of one of the blast furnaces.
§ Tata Steel UK liquid steel production for the quarter stood at 0.73 mn tons and was marginally lower on QoQ basis due to operational issues. Deliveries stood at 0.63 mn tons and were lower on QoQ and YoY basis due to subdued demand dynamics.
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