Tata Steel Q1 deliveries fall close to 2.2% to 4.06 MT

Tata Steel India posted a 2.16% fall in deliveries at 4.06 million tonne (MT) in the first quarter of the current fiscal, due to moderation in exports following the imposition of a 15% export duty. The company had delivered 4.15 MT during the same period a year ago.

Compared with the sequential fourth quarter of last fiscal, the company’s India deliveries fell 20.7% from 5.12 MT, Tata Steel said in a regulatory update. The figures for Tata Steel India include standalone numbers of Tata Steel and Tata Steel Long Products, without eliminating inter-company transactions, it said.

The company, which announced provisional production and sales numbers for the quarter, said Tata Steel India’s crude steel production during the reporting quarter rose 6.26% on a year-on-year basis.

Tata Steel’s India production volume stood at 4.92 MT, as against 4.63 MT recorded during the same quarter last year, and 4.9 MT posted in the sequential fourth quarter. “However, domestic deliveries were ramped up, leveraging our strong marketing network and agile business model and increased by 5% year-on-year,” it said.

On the domestic front, automotive and special products segment deliveries rose 22% year-on-year on broad-based recovery across all sub-segments. the deliveries of branded products and retail segment were “broadly similar”, it said, adding, Tata Tiscon (rebar brand) registered its best-ever first quarter sales.

Industrial products and projects segment deliveries rose 8% y-o-y, primarily driven by increase in sales of value-added products to key segments such as engineering. Tata Steel Aashiyana’s (e-commerce platform for individual home builders) revenue grew 77% y-o-y to Rs 457 crore.

Tata Steel Europe’s steel production was up 5% quarter-on-quarter, but was lower on a y-o-y basis. Its deliveries stood at 2.16 MT and were lower y-o-y in line with production, it said.