Jamshedpur: Tata Steel on Tuesday reported an exceptional performance with consolidated Q4 FY17 Earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 6982 crore – 1100 basis points higher YOY and defines the strong performance beating industry trends. The consolidated full year EBIDTA is Rs 17,025 crore – a level last achieved in FY11.
�Tata Steel Kalinganagar registered a production of 2.2 MnT of Hot Metal at a record ramp up rate since production commencement in May�16. Hot rolled coil production also crossed 1.5 MnT in FY17. The products of TSK have been very well received in the market and this augurs very well for FY18,� said a company statement.
Company sources said the sales volumes at 10.97 MnT registered a growth of 18% YOY significantly out performing domestic markets which grew @0.6% YOY. Sales to automotive segment grew by 9% YOY consolidating the market share of over 43%. Branded products now contribute 45% of total sales making TSL well positioned to mitigate fluctuating demand scenarios.
Reduction of gross debt by over Rs.1700 crore from the previous quarter despite a capital expenditure of Rs 2092 crore & robust cash reserves @ Rs 19800 crore exemplifies fiscal discipline.
The improved performance of SEA operations and the Ferro Alloy & Mineral Division is expected to consolidate future performance of the company, said the company spokesperson.