Tata Steel BSL Ltd - Q1FY22 Crude Steel Production and Sales Volume increase by 78% YoY and 61% YoY

Tata Steel BSL: 1QFY22 Key Production and Delivery Volumes (Provisional)

Key Highlights

- During Q1FY22, Crude Steel production was at 1,171 thousand tons, as compared to 1,175 thousand tons during Q4FY21 and 659 thousand tons during Q1FY21.

- During Q1FY22, Crude Steel sales was at 1,119 thousand tons, as compared to 1,193 thousand tons during Q4FY21 and 696 thousand tons during Q1FY21.

- 1QFY22 Crude Steel production and Sales volume increased by 78% YoY and 61% YoY, respectively as 1QFY21 was impacted due to the COVID-19 pandemic and the stringent nationwide lockdown.

- During the quarter, Crude Steel production remained largely at par on QoQ basis. However, Sales volume was impacted 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-June 21 with easing lockdowns. The Company has launched B2ECA brand Tata Astrum in 1QFY22.

- Tata Steel BSL has undertaken several vaccination drives at all of its operating locations. Currently, around 80% of its employees are vaccinated for the 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 Bsl Ltd was last trading in BSE at Rs.89.1 as compared to the previous close of Rs. 88.35. The total number of shares traded during the day was 1034850 in over 11335 trades.

The stock hit an intraday high of Rs. 91.4 and intraday low of 87.1. The net turnover during the day was Rs. 92039604.

Source : Equity Bulls

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