Tata Steel records a 16% rise in sales at 4.67 million tonnes in Q4 of FY 21


Steelmaker, has reported a 16% jump in sales at 4.67 million tonnes during the last quarter of FY 21, with crude steel production flat at 4.75 million tonnes.

Tata

reported an annual sales volume of 17.30 million tonnes in FY21, up by 1% year on year(yoy). The company’s annual production came down by 7% to 16.93 million tonnes in FY 21 as against 18.20 in FY 20.

“Full-year FY21 production was lower by 7% yoy primarily due to the disruption caused by COVID-19 pandemic during the first half of FY 21,” the company said in a media statement on Tuesday, adding that the company remains focused on managing costs and cash flows while pursuing deleveraging.

The company reported a crude steel production of 4.73 million tonnes during the same period of Q4, last year. Out of the total sales in Q4 at 4.67 million tonnes, exports were at 11%.

“Domestic deliveries increased 22% yoy to 4.17 million tonnes on the back of company’s robust marketing network and improved market conditions,” the company’s statement said.

As per Tata Steel, automotive & special products segment sales grew by 13% quarter-on-quarter (QoQ) and 57% yoy to 0.78 million tonnes in Q4 of FY21. Full-year FY21 sales volume crossed 2 million tonnes, registering a 7% YoY growth.

Branded products & retail segment deliveries grew 3% QoQ and 23% yoy to 1.45 million tonnes Q4 of FY21. Industrial products & projects’ segment deliveries grew by 11% yoy to 1.59 million tonnes.

During the quarter, steel production at Tata Steel Europe increased to 2.65 mn tons. Steel sales volume rose by 18%QoQ and 4%YoY.

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“Steel production and sales volume for FY21 were lower at Tata Steel Europe on YoY basis due to the impact of the pandemic,” the company said in its statement.



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