Saturday, January 28, 2023

Tata Steel achieves highest-ever quarterly deliveries of 5.05 MnT in India

Jamshedpur: Tata Steel today announced provisional key production and delivery volumes for the second quarter of financial year 2020-2021.

Tata Steel India ramped up its steelmaking and downstream operations back to pre-Covid level, with all major sites operating at around full capacity utilisation. During the September quarter of current financial year, the Company increased its crude steel production to 4.59 mn tons, an increase of 54% as compared to June quarter of this fiscal and 2% compared to the September quarter of last fiscal (FY20).

Tata Steel leveraged its robust marketing network and strong customer relationships to reach its highest-ever quarterly deliveries of 5.05 mn tons, which translates to 72%QoQ and 22%YoY growth.

Also Read:  11th Edition of Tata Steel Kolkata Literary Meet 2023 to be held from Jan 21 to 26, 2023

The Company reduced exports to 24% of overall deliveries and sharply ramped up domestic deliveries to 3.86 mn tons which translates to an increase of 164%QoQ and 10%YoY.

The growth in domestic deliveries was broad based with YoY growth across all key business verticals:

  • ·Automotive & Special Products’ segment deliveries grew 10%YoY with pick-up in sector demand especially in two wheelers and passenger vehicle segment. Tata Steel also gained Share of Business in the new passenger and light commercial vehicle launches.
  • ·Branded Products & Retail’ segment deliveries grew by 5%YoY with deliveries to B2ECA sector growing by 9%YoY. Tata Shaktee achieved a delivery volume growth of 22%YoY with robust rural demand.
  • ·‘Industrial Products & Projects’ segment deliveries grew by 13%YoY. Tata Steel achieved a 31%YoY growth in value added product deliveries within the segment as the Company continued to focus on product mix enrichment by catering to discerning customers in segments such as Oil & Gas, Lifting and Excavation and Precision Tubes.
Also Read:  Tata Steel Jamshedpur Works installs solar power project of 1.17MWp

In Europe, macroeconomic and steel demand recovery is more gradual. Tata Steel Europe’s 2QFY21 sales volume increased by 14%QoQ to 2.26mn tons; Steel production was stable on QoQ basis.

Tata Steel continues to closely monitor the 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. The Company also continue to stay focused on aggressively managing costs and cashflows.



Tata Steel completes first-ever CargoDocs eB/L transaction for imports into Turkey

Electronic Bill of Lading (eB/L) completed within 48 hours as compared to days or even weeks required in a traditional paper-based transaction ~ Jamshedpur: Tata...
johar haat jamshedpur

Week-long Johar Haat concludes in Jamshedpur

21 people from 6 states, representing 6 different tribes participated in the Haat, Over 1500 people visited the exhibition Jamshedpur: The week-long Johar Haat, organised...



Malaysian daily promotes Church Pongal picture on first page, Hindus condemn...

MahaKrishnan With Dravidianist influence on the rise, Malaysian media appears to be encouraging Christian appropriation of Hindu practices. The Sun, a free national daily reported Christians...

No Vibhuti or Kumkum, owners asked to erase Hindu identities of...

MahaKrishnan In an attempt to erase its Hindu identity, Jallikattu bull owners were asked not to apply Chandan, Kumkum and turmeric when they bring...


The greatness of our MOTHERLAND

Swami Vivekananda If there is any land on this earth that can lay claim to be the blessed Punyabhumi (holy land), to be the land...

New Ghatshila SDO Satyaveer Rajak takes charge

Jamshedpur: Satyaveer Rajak today took charge as SDO of Ghatshila sub-division in East Singhbhum district. He took charge from outgoing Sub-Divisional Officer Mr. Amar...

Feel like reacting? Express your views here!

Read More



Subsribe Our Newsletter & get Free Daily News & Opinion updates!

Town Post