Tata Steel's crude steel production up 55% yoy to 4.62 MT in Q1 of FY 22

Tata Steel India’s crude steel production was up by 55% year-on-year during the first quarter of FY 22 to 4.62 million tonnes, as against 2.99 million tonnes reported during the same quarter last year.
“Tata Steel India Crude steel production grew 55%YoY in 1QFY22 as 1QFY21 was impacted due to the COVID-19 pandemic and the stringent nationwide lockdown,” the company said in a BSE Filing on Sunday.

Crude steel production decreased by 2.6% QoQ during Q1 of FY 22 due to the supply of over 47,800 tons of liquid medical oxygen to hospitals amidst the 2nd wave of COVID-19 pandemic, the company's statement said.

Steel deliveries declined 11% QoQ due to partial lockdowns announced by some of the states and temporary shutdowns in few steel-consuming sectors amidst the 2nd wave of the COVID-19 pandemic.

“To offset the impact, exports were increased to 16% of the total sales vs 11% in 4QFY21. The domestic market has been improving since mid-Jun’21 with easing lockdowns,” the company’s statement said.

Tata Steel India’s deliveries increased by 42% YoY to 4.15 million tonnes. (These are provisional numbers and may slightly increase or decrease from actual)

Tata Steel's automotive & special products’ segment deliveries increased by around 7 times YoY against the estimated 3 times YoY increase in automotive OEM’s production in Q1 of FY22, the company said.

Branded products & retail segment deliveries were higher by 112% YoY. Industrial products & projects segment deliveries increased by 2 times on a YoY basis.

“Tata Steel continues to focus on improving its offerings to the domestic market. Sales of value-added products to key segments like Pre-Engineered buildings, O&G, Agricultural implements grew 175% YoY,” the company’s statement said.

Tata Steel Europe’s crude steel production grew to 2.73 million tonnes during the Q1 of FY22 as against 2.15 MT last year. Tata Steel South-East Asia business reported a crude steel production of 0.59 million tonnes up 52% year-on-year.