Crude steel production of Tata up 55% to 4.62 MT in Q1FY22
Jamshedpur, July 4: Tata Steel India Crude steel production grew 55% YoY in 1QFY22 to 4.62 million tonnes against the same period last year which was impacted due to the COVID-19 pandemic and the stringent nationwide lockdown, said a press communique issued by Tata Steel.
It stated that Tata Steel India deliveries increased by 42%YoY. Key segment highlights of domestic deliveries are: ‘Automotive & Special Products’ segment deliveries increased by 7x YoY against the estimated 3x YoY increase in automotive OEM’s production in 1QFY22. ‘Branded Products & Retail’ segment deliveries were higher by 112%YoY. B2C brand Tata Tiscon has become the 1st Rebar brand in India to receive GreenPro certification. ‘Industrial Products & Projects’ segment deliveries increased by 2x on YoY basis. Tata Steel continues to focus on improving its offerings to the domestic market. Sales of value-added products to key segments like Pre-Engineered buildings, O&G, Agricultural implements grew 175%YoY. Tata Steel Aashiyana, an e-commerce platform for Individual Home builder, grew revenues by ~7x YoY to Rs.257 crores.
During the quarter, Crude steel production decreased 2.6%QoQ due to supply of over 47,800 tons of liquid medical oxygen to hospitals amidst the 2nd wave of COVID-19 pandemic. Steel deliveries declined 11%QoQ due to partial lockdowns announced by some of states and temporary shutdowns in few steel consuming sectors amidst the 2nd wave of COVID-19 pandemic. To offset the impact, exports were increased to 16% of the total sales vs 11% in 4QFY21. The domestic market has been improving since mid-Jun’21 with easing lockdowns. It further stated that Tata Steel Europe’s Steel production grew by 27%YoY to 2.73 mn tons; Steel deliveries increased by 19%YoY. Tata Steel Southeast Asia’s Steel production grew by 49%YoY; Steel deliveries increased by 50%YoY.
Additionally, Tata Steel India has undertaken several vaccination drives at all of its operating locations. Currently, around 82% of its employees are vaccinated for first dose. The company continues to closely monitor the resurgence of COVID-19 cases and take appropriate actions in line with the directions issued by the regulatory authorities keeping in view the health and safety of its employees and the community and the interests of its customers and other stakeholders.