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Tata Steel: 4QFY20 & FY20 Key Production and Sales Figure (Provisional)

Mumbai, April 21, 2020

                                                                                             All Figures are in million tons







Production volume1:
Tata Steel India2  4.74  4.47  4.48 18.21  16.81
Tata Steel Europe  2.56  2.51  2.73  10.18  10.30
Tata Steel South East Asia  0.54  0.49  0.51  2.17  2.09
Sales volume:
Tata Steel India2  4.03  4.85  4.72  16.97  16.26
Tata Steel Europe  2.37  2.35  2.57  9.27  9.64
Tata Steel South East Asia  0.60  0.58  0.59  2.41  2.41

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.

  • As the novel Coronavirus (COVID-19) outbreak continues to spread across the world, many countries have been taking actions to restrict movement of people and industrial activities. The Government of India announced a nationwide lockdown with effect from 25th Mar 2020 to combat the spread of the COVID-19 virus. As per notifications from the Central and State Governments of India, Steel and Mining, being essential services and continuous process industries, are exempt from the lockdown measures subject to certain guidelines. However, the lockdown has led to logistic issues and lower demand driven by the shutdown of customer operations in automotive, construction and other segments since last few days of March 2020.

  • While this affected 4QFY20 sales volumes in India, however, production volume grew 6%YoY to 4.74 mn tons. Tata Steel India also achieved an 8%YoY production growth for the full year FY20, along with the best ever annual sales. This was supported by ramp up of Tata Steel BSL and acquisition of Usha Martin Steel business by Tata Steel Long products; Tata Steel BSL also recorded its best ever annual performance.

  • Tata Steel India witnessed highest ever annual sales in Branded Products and Retail segment with an increase of 8% over FY19. The company was successful in maintaining volumes for Industrial Products & Projects segment with a strong increase in sales in Oil & Gas and Industrial Pipe segment. It also sustained its focus on Automotive & Special products segment and increased share of high-end sales in the segment volume from 19.5% in FY19 to 25% in FY20.

  • Based on the specific guidelines from Central and State Governments, the company have been able to operate its mining operations normally. In the view of these conditions including practical constraints in continuing operations, the company is operating integrated steelmaking facilities at lower utilization levels; operations at the downstream facilities have been suspended and put on care and maintenance mode.

  • Tata Steel Europe is also cooperating with national guidelines of the relevant countries to combat COVID-19. Despite macro headwinds, the company was able to keep production and sales stable in 4QFY20 compared to 3QFY20. Overall European steel demand has declined compared to the normal conditions as many customers, including European car manufacturers, have currently paused production. The utilization levels are currently around 70% and dispatches are continuing in both UK and Netherlands.

  • In these unprecedented times and rapidly evolving situation, the company’s first and foremost priority is the health and safety of its employees. While the company is focused on conserving cash and ensuring adequate liquidity, it continues to monitor the situation closely and has taken several initiatives to ensure that the operations are in a state of readiness to ramp back as the situation improves and normalcy is restored.

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-Certified 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.

Last year, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow..

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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.

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