Tata Steel Reports INR 26,309 per Tonne EBIDTA in Q4 of 2020-21
Tata SteelDatagame

Tata Steel Reports INR 26,309 per Tonne EBIDTA in Q4 of 2020-21

Tata Steel while reporting performance results for January-March 2021 quarter & FY 2020-21 highlighted that consolidated profit after tax for its Indian

Tata Steel while reporting performance results for January-March 2021 quarter & FY 2020-21 highlighted that consolidated profit after tax for its Indian operations in January-March 2021 surged to INR 8,846 crores up from INR 4832 crores in October-December 2020 and from minus INR 563 crores in January-March 2020, driven by super strong EBITDA of INR 26,309 per tonne.

FY 2020-21 Indian Operations

Production - 16.92 million tonnes, -7% YoY

Deliveries - 17.31 million tonnes, +2%YoY

Turnover - INR 91,037 crores, +11% YoY

EBITDA - INR 28,587 crores, +62% YoY

EBITDA per tonne - INR 16,515 crores, +59% YoY

Profit after Tax - INR 16,695 crores, +198% YoY

India includes Tata Steel Standalone, Tata Steel BSL Limited and Tata Steel Long Products Limited on proforma basis without inter-company eliminations

FY 2020-21 Consolidated

Production - 28.54 million tonnes, -7% YoY

Deliveries- 28.5 million tonnes, -1% YoY

Turnover - INR 156,294 crores, +5% YoY

EBITDA - INR 30,892 crores, +71% YoY

EBITDA per tonne - INR 10,838 crores, +73% YoY

Profit after Tax - INR 8,190 crores, 599% YoY

Tata Steel CEO & Managing Director Mr TV Narendran said “First half of financial year 2021 was a challenging period with the uncertainties and complexities brought on by the COVID-19 pandemic. Indian economy and domestic steel demand has been improving since then with accommodative policies, government spending and relaxation in mobility restrictions. Despite a slow start in first quarter, we managed to deliver strong performance in India with broad based, market leading volume growth supported by our agile business model. All our segments, especially automotive, have performed extremely well due to our continuous focus on building strong customer relationships, superior distribution network, brands, and new product developments. We are also making good progress on our various initiatives to de-risk the business while our digital marketing platforms are helping us reach new markets and be future ready. The second wave of COVID-19 in India is a risk and we are working to minimize the impact on our employees and communities while meeting the requirements of our customers. We continue to work on our strategic priorities to maximize shareholders value. Work on the pellet plant and CRM complex at Kalinganagar is progressing well. We have also restarted our 5mtpa expansion project which should be completed in FY24.”

Shareholders have approved the merger of Tata Steel BSL with Tata Steel. A joint “Scheme Petition” has been filed with the NCLT to sanction the scheme with effect from 1st April, 2019. The merger of Tata Metaliks and Indian Steel and Wire Products with Tata Steel Long Products in also underway

No stories found.
SteelGuru Business News
www.steelguru.com