Maintenance related shutdowns in Jamshedpur (reline of G Blast Furnace) as well as at Neelachal Ispat Nigam Limited (NINL), have led to decline in finished goods production adversely impacting deliveries. Operations have since resumed at NINL and the reline of G Blast Furnace is progressing and is expected to be completed in July 2025.
Meanwhile, Tata Steel Netherlands also reported flat YoY growth in production volume in the quarter under review at 1.70 million tons and Tata Steel Thailand’s production volume increased 6% to 0.33 million tons.
The delivery volumes from its Dutch arm marginally grew at 2% YoY at 1.50 million tons.
Tata Steel UK’s delivery volumes were reported at 0.60 million tons, down 12% from the year ago period. Tata Steel is serving its customers via downstream processing of purchased substrate. Deliveries for the quarter stood at 0.6 million tons. Work on the EAF project is progressing with construction at Port Talbot on course to commence this month.
The numbers are provisional and the actual numbers will be announced in the company’s earnings, later.
Key highlights of domestic deliveries for the quarter:
— ‘Automotive & Special Products’ vertical deliveries were around 0.77 million tons and were aided by 4% YoY growth in hi-end products. Tata Steel has received grade approvals for ultra-high strength steel from the recently commissioned continuous annealing facility at Kalinganagar. This places us on par with global leaders with capability to service the need for lightweighting and advanced mobility applications.
— ‘Branded Products & Retail’ vertical deliveries were 1.46 million tons and of this, Tata Tiscon was 0.48 million tons and Tata Astrum & Tata Steelium together accounted for around 0.81 million tons.
— ‘Industrial Products & Projects’ vertical deliveries were 1.6 million tons driven by value accretive segments such as Engineering and Ready-to-use solutions. Engineering witnessed a growth of 5% YoY, on account of improved volumes to Oil & Gas and Railways. SmartF@B, our ready-to-use solutions, grew 66% YoY.
The updates were announced after market hours and Tata Steel shares today closed at Rs 161.90 on the NSE, down 0.31%.
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