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Tata Steel: 3QFY20 & 9MFY20 Key Production and Sales Figure (Provisional)

Mumbai, January 10, 2020

  • During 3QFY20, weakness in GDP growth and industrial output continued across major economies affecting steel demand. However, Chinese steel demand was buoyant as despite higher steel production, exports stabilized at around 5 million tons a month. Positive developments on the U.S. – China trade talks along with step-up in China policy easing are expected to provide support to global steel demand and thus steel prices. However, escalating geopolitical tensions pose a risk.

  • In Europe, the overall slowdown coupled with seasonal weakness kept steel spreads under pressure as declining steel prices offset the benefit of softness in raw material prices.

  • Indian economy remained weak with declining private consumption growth and low investment growth. Domestic steel prices reached a nadir in October 2019 before improving from November onwards. Steel prices are expected to improve further with strong retail demand and ongoing restocking demand at the dealers’ ends.

  • Tata Steel’s performance:
    • Tata Steel India’s23QFY20 sales volume increased by 17% QoQ with improved market sentiment. Sales volume to auto segment was maintained during the quarter. Branded Product & Retail segment grew 23% QoQ while Industrial Products and Projects grew 12% QoQ. Tata Steel India’s2 production volume was flattish on QoQ basis.
    • Tata Steel Europe’s 3QFY20 production and sales volume was flattish on QoQ basis.
    • Tata Steel South East Asia operations registered lower production volume on QoQ basis due to continued sluggishness in Singapore and Thailand markets.

                             All Figures are in million tons 

Items

3QFY20 (Provisional)

2QFY20(Actual)

3QFY19 (Actual)

9MFY20
(Provisional)

9MFY19
(Actual)

Production volume1:

 

 

 

 

 

Tata Steel India2

4.46

 4.50

 4.38

13.46

 12.90

Tata Steel Europe

2.50

 2.45

 2.34

 7.60

 7.57

Tata Steel South East Asia

0.49

 0.57

 0.52

1.63

 1.58

Sales volume:

 

 

 

 

 

Tata Steel India2

4.84

 4.13

 3.89

12.94

 12.02

Tata Steel Europe

2.31

 2.28

 2.35

 6.86

 7.07

Tata Steel South East Asia

0.59

 0.60

 0.57

1.81

 1.81


Notes: 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 (from May 18, 2018) and Tata Steel Long Products (from April 09, 2019) without eliminating inter-company transactions.

About Tata Steel                  

Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MnTPA). 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 $22.67 billion in the financial year ending March 31, 2019. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd).

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 retained the ‘Global Steel Industry Leader’ position in the DJSI 2018. The Company has been recognised as the Climate Disclosure Leader in ‘Steel category’ by CDP (2017). Besides being a member of the World Steel Climate Action Programme, Tata Steel has won several awards including the Lighthouse recognition for its Kalinganagar Plant – a first in India, Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, ‘GreenPro’ certification for products (Tata Pravesh Steel Doors, Tata Structura, Tata Pipes) by CII, Authorized Economic Operator  (AEO) status (Tier 2) by the Directorate of International Customs (Ministry of Finance, Govt. of India), ‘Corporate Strategy Award’ by Mint (2018), Golden Peacock Award for Risk Management (2018) and Best Risk Management Framework & Systems Award (2019) by CNBC TV18. The Company also received the ‘Most Ethical Company’ award from Ethisphere Institute for the eight time (2019), Steel Sustainability Champion (2018) by the World Steel Association, Dun & Bradstreet Corporate Awards (2019), Golden Peacock HR Excellence Award by Institute of Directors (2018), ‘Best Companies To Work For’ recognition by Business Today, 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.

In 2018, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow (www.wealsomaketomorrow.com).

To know more, visit www.tatasteel.com | Follow us on Facebook Twitter LinkedIn YouTube Instagram   

Disclaimer

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.

For media enquiries contact:  

Kulvin Suri                                                                      Rob Simpson                                                        

Tel: +91 22 6665 0581/ +91 92310 52397           Tel: +44 207 717 4404/ +44 7990 786 531

E-mail: kulvinsuri@tatasteel.com                          Email: rob.simpson@tatasteeleurope.com


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