Tata Steel Limited has announced key production and delivery volumes (Provisional) for 2QFY22.
Tata Steel India Crude steel production grew 2%QoQ and 3%YoY in 2QFY22. Despite seasonal weakness, overall deliveries increased by 12%QoQ on the back of economic recovery post 2nd wave of COVID-19; deliveries were lower by 8%YoY due to lower exports and stock liquidation focus in the previous year.
The company achieved deliveries volume growth across its target segments:
- 'Automotive & Special Products' segment deliveries increased by 12%QoQ.
- 'Branded Products & Retail' segment deliveries were higher by ~9%QoQ. Tata Steel launched its new and superior rebar Tata Tiscon 550SD for retail customers. Tata Steel BSL launched "Tata Steelium Super" which will enhance company's presence in the retail segment.
- 'Industrial Products & Projects' segment deliveries increased by 17%QoQ with increased focus on value added products.
- Tata Steel Aashiyana, an e-commerce platform for Individual Home builders, registered a 32%QoQ growth with gross revenues of Rs.338 crores during the quarter.
- Tata Steel Europe's steel production grew by 19%YoY to 2.56 mn tons during the quarter, however, it declined by 4%QoQ due to temporary operational issues at both the Netherlands and UK steelmaking sites. Deliveries were lower by 7%QoQ due to seasonal impact as well as slowdown in automotive steel sales amidst microchip shortages; deliveries were lower by 5%YoY due to stock liquidation focus in the previous year. TSE deliveries remain on target to be materially higher in FY22 than FY21 with improvements seen across the Engineering, Automotive and Construction sectors.
- Tata Steel Southeast Asia's Steel production and sales volume declined by 17%QoQ and 5%QoQ, respectively, primarily due to lockdown in Malaysia and Thailand amidst the spread of COVID-19.
- Tata Steel India has undertaken several vaccination drives at all of its operating locations. Currently, around 98% of its employees are vaccinated for first dose and 69% employees have been administered with second 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 Limited was last trading in BSE at Rs. 1316.65 as compared to the previous close of Rs. 1324.30. The total number of shares traded during the day was 333139 in over 13446 trades.
The stock hit an intraday high of Rs. 1332.00 and intraday low of 1310.35. The net turnover during the day was Rs. 439889292.00.
Shares of Tata Steel Limited was last trading in NSE at Rs. 1316.85 as compared to the previous close of Rs. 1324.15. The total number of shares traded during the day was 5795216 in over 113241 trades.
The stock hit an intraday high of Rs. 1332.70 and intraday low of 1310.15. The total traded value during the day was Rs. 7652041814.00.