Tata Steel Long Products - Q1FY22 Crude steel production and Sales volume increase by 42% YoY and 39% YoY

Tata Steel Long Products: 1QFY22 Key Production and delivery volumes (Provisional)

Key Highlights:

- The production volume of Direct Reduced Iron (Sponge Iron) was at 243 thousand tons in Q1FY22, as against 226 thousand tons in Q4FY21 and 134 thousand tons in Q1FY21.

- The production volume of Crude Steel was at 172 thousand tons in Q1FY22, as against 186 thousand tons in Q4FY21 and 121 thousand tons in Q1FY21.

- The sales volume of Direct Reduced Iron (Sponge Iron) was at 179 thousand tons in Q1FY22, as against 171 thousand tons in Q4FY21 and 104 thousand tons in Q1FY21.

- The sales volume of Crude Steel was at 162 thousand tons in Q1FY22, as against 172 thousand tons in Q4FY21 and 117 thousand tons in Q1FY21.

- 1QFY22 Crude steel production and Steel Rolled Product sales volume increased by 42% YoY and 39% YoY, respectively as 1QFY21 was impacted due to the COVID-19 pandemic and the stringent nationwide lockdown.

- During the quarter, Crude steel production volume decreased by 8% QoQ due to planned shutdown at BF#2 and limited availability of oxygen. Steel Rolled Product witnessed a marginal decrease of 3% QoQ against industry de-growth of around 20%, due to partial lockdowns announced by some of states and temporary shutdowns in few steel consuming sectors amidst the 2nd wave of COVID-19 pandemic. The domestic market has been improving since mid-Jun'21 with easing lockdowns.

- Tata Steel Long Products achieved highest ever quarterly Sponge Iron production of 243 KT with a growth of 81% YoY and 8% QoQ in 1QFY22; DRI sales volume also grew 72% YoY and 5% QoQ.

- The company has undertaken several vaccination drives at all of its operating locations. Currently, around 87% of its employees are vaccinated for first dose. The company continues to closely monitor COVID-19 situation and take appropriate actions in line with the directions issued by the regulatory authorities keeping in view the health and safety of its employees and the community, and the interests of its customers and other stakeholders.

Shares of Tata Steel Long Products Ltd. was last trading in BSE at Rs.933.1 as compared to the previous close of Rs. 940.75. The total number of shares traded during the day was 2320 in over 137 trades.

The stock hit an intraday high of Rs. 954 and intraday low of 932. The net turnover during the day was Rs. 2182351.

Source : Equity Bulls

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