Tata Steel: 1QFY2024 Production and delivery volumes (Provisional)

Notes: 1. Production Numbers: India - Crude Steel Production; Europe - Liquid Steel Production; Tata Steel Thailand - Saleable Steel Production.  2. Figures for Tata Steel India includes Tata Steel Standalone and Tata Steel Long Products.

• In 1QFY24, Tata Steel India crude steel production stood at 5.01 million tons, with a growth of 2% YoY primarily driven by ramp up at Neelachal Ispat Nigam Limited. Production was lower QoQ on planned maintenance shutdowns. Deliveries at 4.8 million tons were higher by 18% on YoY basis, driven by rise in domestic deliveries. Exports moderated on YoY basis to 0.25 mn tons. 

• Key segment highlights of domestic deliveries are:

  • ‘Automotive & Special Products’ segment deliveries were broadly similar on YoY basis. Among the sub segments, production of passenger vehicles and 2-wheelers was up while commercial vehicles declined.
  • ‘Branded Products & Retail’ segment deliveries increased by 37% YoY. This was driven by best ever 1Q sales of well-established brands - Tata Tiscon and Tata Steelium.
  • ‘Industrial Products & Projects’ segment deliveries increased by 24% YoY driven by sustained increase in sale of value-added products to key segments like Railways, Pre-engineered buildings etc.
  • Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home builders, stood at Rs. 365 crores in 1QFY24 and were up 18% QoQ.
    
    

• The planned relining of BF6 at Tata Steel Netherlands commenced in April and this has led to drop in crude steel production at Tata Steel Europe. Crude steel production stood at 1.81 mn tons while deliveries stood at 1.97 million tons.

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 queries and information

Sarvesh Kumar

Chief, Corporate Communications - Tata Steel

E-mail: sarvesh.kumar@tatasteel.com

About Tata Steel

• Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 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 recorded a consolidated turnover of ~US$30.3 billion in the financial year ending March 31, 2023.
• A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000.
• Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.
• The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
• Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
• The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
• Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteel^TM Certification.
• Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, No. 1 brand in India in the Mining and Metals industry in Top 100 brand rankings for 2022 by Brand Finance, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute.
• Recognised with 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.

Photographs: Management and Plant facilities

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Website: www.tatasteel.com and www.wealsomaketomorrow.com

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