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    500055   INE824B01021


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Tata Steel India deliveries grow 12%QoQ, despite seasonally weaker quarter

10/07/2021 | 07:28am EST

1. Production Numbers: India - Crude Steel Production; Europe - Liquid Steel Production; South-East Asia - Saleable Steel Production.

2. Figures for Tata Steel India includes Tata Steel Standalone, Tata Steel BSL and Tata Steel Long Products without eliminating inter-company transactions.

Tata Steel India Crude steel production grew 2%QoQ and 3%YoY in 2QFY22. Despite seasonal weakness, overall deliveries increased by 12%QoQ on the back of economic recovery post 2nd wave of COVID-19; deliveries were lower by 8%YoY due to lower exports and stock liquidation focus in the previous year.

The company achieved deliveries volume growth across its target segments:

Automotive & Special Products' segment deliveries increased by 12%QoQ.

'Branded Products & Retail' segment deliveries were higher by ~9%QoQ. Tata Steel launched its new and superior rebar Tata Tiscon 550SD for retail customers. Tata Steel BSL launched 'Tata Steelium Super' which will enhance company's presence in the retail segment.

'Industrial Products & Projects' segment deliveries increased by 17%QoQ with increased focus on value added products.

Tata Steel Aashiyana, an e-commerce platform for Individual Home builders, registered a 32%QoQ growth with gross revenues of Rs.338 crores during the quarter.

Tata Steel Europe's steel production grew by 19%YoY to 2.56 mn tons during the quarter, however, it declined by 4%QoQ due to temporary operational issues at both the Netherlands and UK steelmaking sites. Deliveries were lower by 7%QoQ due to seasonal impact as well as slowdown in automotive steel sales amidst microchip shortages; deliveries were lower by 5%YoY due to stock liquidation focus in the previous year. TSE deliveries remain on target to be materially higher in FY22 than FY21 with improvements seen across the Engineering, Automotive and Construction sectors.

Tata Steel Southeast Asia's Steel production and sales volume declined by 17%QoQ and 5%QoQ, respectively, primarily due to lockdown in Malaysia and Thailand amidst the spread of COVID-19.

Tata Steel India has undertaken several vaccination drives at all of its operating locations. Currently, around 98% of its employees are vaccinated for first dose and 69% employees have been administered with second dose. The company continues to closely monitor COVID-19 situation 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.

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US $21.1 billion in the financial year ending March 31, 2021

A Great Place to Work-CertifiedTM organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.

Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 5 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM and worldsteel's Climate Action Programme, Tata Steel has won several awards and recognitions including the World Economic Forum's Global Lighthouse recognition for its Kalinganagar Plant - a first in India, and Prime Minister's Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India's most valuable Metals & Mining brand by Brand Finance, received the 'Honourable Mention' at the National CSR Awards 2019, Steel Sustainability Champion 2019 by worldsteel, CII Greenco Star Performer Award 2019, 'Most Ethical Company' award 2020 from Ethisphere Institute, Best Risk Management Framework & Systems Award (2020) by CNBC TV-18, and Award for Excellence in Financial Reporting FY20 by ICAI, among several others.

To know more, visit www.tatasteel.com and www.wealsomaketomorrow.com.


Statements in this press release describing the Company's performance may be 'forward looking statements' within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company's operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.



Sarvesh Kumar

Tel: +91 98301 71705

E-mail: sarvesh.kumar@tatasteel.com

Rob Simpson

Tel: +44 207 717 4404

T: +44 7990 786 531

E-mail: rob.simpson@tatasteeleurope.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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TATA STEEL BSL LIMITED -1.38% 85.55 End-of-day quote.0.00%
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Sales 2021 214 B 2 874 M 2 874 M
Net income 2021 25 182 M 338 M 338 M
Net Debt 2021 93 803 M 1 259 M 1 259 M
P/E ratio 2021 7,96x
Yield 2021 -
Capitalization 93 544 M 1 258 M 1 255 M
EV / Sales 2020 0,97x
EV / Sales 2021 0,70x
Nbr of Employees 5 707
Free-Float 22,8%
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Rajeev Singhal Managing Director & Director
Pratik Chatterjee Chief Financial Officer
Thachat Viswanath Narendran Chairman
Subodh Pandey Chief Operating Officer
Nisha Anil Seth Secretary & Compliance Officer
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