▪ For 9MFY23, Tata Steel India crude steel production and deliveries were up 4% on YoY basis while domestic deliveries were up ~10% YoY.
▪ In 3QFY23, Tata Steel India crude steel production stood at 5 million tons and was up 4% on YoY and QoQ basis. Deliveries stood at 4.73 million tons and were up 7% YoY primarily driven by 11% growth in domestic deliveries, which also led to improvement in product mix.
▪ Record domestic deliveries across segments in 9MFY23:
o ‘Automotive & Special Products’ segment deliveries stood at ~2 million tons and were up 7% on YoY basis, surpassing the previous best recorded in 9MFY19. For the quarter, deliveries were marginally lower due to drop in automotive production.
– ‘Branded Products & Retail’ segment deliveries stood at ~4.1 million tons and were up 10% YoY, similar to the previous best in 9MFY20. For the quarter, deliveries were up 13% YoY. Tata Tiscon registered best ever quarterly sales enabled by expanded reach.
– ‘Industrial Products & Projects’ segment deliveries stood at ~5.2 million tons and were up 13% YoY, surpassing the previous best recorded in 9MFY20. For the quarter, deliveries were up 15% YoY and were the best ever quarterly sales driven by increase in value added products.
– Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home builders, grew by around 49% YoY to Rs. 1,419 crores in 9MFY23.
▪ Neelachal Ispat Nigam Limited (NINL) has begun operations within 3 months of completion of acquisition and is presently undergoing ramp up to rated capacity of ~1 million tons. Tata Tiscon rebars are being made from NINL billets.
▪ During the quarter, Tata Steel Europe steel deliveries stood at 1.96 million tons and were lower on YoY basis but up 5% on QoQ basis. Production was lower on QoQ and YoY basis.