SynopsisTata Steel's provisional 2QFY2024 figures reveal stability and growth. Crude steel production in Tata Steel India reached 4.99 million metric tons, showing a slight QoQ stability and a 4% YoY increase. Deliveries in India remained stable at 4.82 million metric tons QoQ but marked a 7% YoY rise for the half year. Key highlights include growth in the Automotive & Special Products and Branded Products & Retail'segments. Tata Steel Europe reported a liquid steel production of 1.99 million tons, reflecting an 11% QoQ increase.ArticleIn the world of steel production and delivery, Tata Steel's performance in the provisional 2QFY2024 figures paints a picture of stability and growth.In the context of Tata Steel India, crude steel production stood at 4.99 million metric tons, demonstrating a remarkable equilibrium when compared to the previous quarter, and a noteworthy 4% increase when viewed through a year-on-year lens. The cumulative data for the half-year period showcases a commendable 3% year-on-year growth in crude steel production, indicating a consistent upward trajectory.When we turn our attention to deliveries within Tata Steel India for 2QFY2024, the figures tell a story of resilience. With 4.82 million metric tons delivered, the numbers remained steady on a quarter-on-quarter basis. This is a particularly noteworthy achievement, given the seasonal challenges posed by monsoon conditions. Yet, the real highlight emerges when we consider the half-yearly data, revealing a substantial 7% year-on-year increase in total deliveries. This surge was largely driven by an upswing in domestic deliveries, with exports experiencing a 52% year-on-year moderation to 0.45 million metric tons.Delving deeper into the domestic delivery landscape for the quarter, several key segments stand out. The Automotive & Special Products segment experienced an impressive 7% increase in deliveries, both on a quarter-on-quarter and year-on-year basis. This boost was supported by the best-ever 2Q sales and a string of approvals from automotive OEMs for cold-rolled steel sourced from the recently commissioned Cold Rolling mill at Kalinganagar.In the Branded Products & Retail segment, deliveries posted a resilient 3% quarter-on-quarter and 6% year-on-year growth. This achievement can be attributed to record-breaking 2Q sales of well-established brands such as Tata Tiscon, Tata Steelium, and Tata Astrum.Meanwhile, the Industrial Products & Projects segment displayed stable quarter-on-quarter performance but registered a notable 4% year-on-year growth. Among its sub-segments, value-added products like cold-rolled and coated variants achieved their best-ever quarterly sales.An interesting facet of Tata Steel's operations is the e-commerce platform known as Tata Steel Aashiyana, catering to Individual Home Builders. In 2QFY2024, this platform generated revenues amounting to Rs. 628 crores, marking an impressive 73% quarter-on-quarter increase, fueled by record-breaking 2Q sales.Shifting our focus to Tata Steel Europe, we observe a positive trend in liquid steel production for the quarter, which reached 1.99 million metric tons. This figure represents an 11% quarter-on-quarter upswing. However, a year-on-year comparison shows a decrease, mainly attributable to the ongoing relining process at one of the blast furnaces in the Netherlands. Total deliveries for Tata Steel Europe in the quarter amounted to 1.79 million tons. This number, although lower, can be partially attributed to subdued demand dynamics.ConclusionThese figures demonstrate Tata Steel's resilience and strategic growth, reflecting the company's commitment to excellence in steel production and delivery.
SynopsisTata Steel's provisional 2QFY2024 figures reveal stability and growth. Crude steel production in Tata Steel India reached 4.99 million metric tons, showing a slight QoQ stability and a 4% YoY increase. Deliveries in India remained stable at 4.82 million metric tons QoQ but marked a 7% YoY rise for the half year. Key highlights include growth in the Automotive & Special Products and Branded Products & Retail'segments. Tata Steel Europe reported a liquid steel production of 1.99 million tons, reflecting an 11% QoQ increase.ArticleIn the world of steel production and delivery, Tata Steel's performance in the provisional 2QFY2024 figures paints a picture of stability and growth.In the context of Tata Steel India, crude steel production stood at 4.99 million metric tons, demonstrating a remarkable equilibrium when compared to the previous quarter, and a noteworthy 4% increase when viewed through a year-on-year lens. The cumulative data for the half-year period showcases a commendable 3% year-on-year growth in crude steel production, indicating a consistent upward trajectory.When we turn our attention to deliveries within Tata Steel India for 2QFY2024, the figures tell a story of resilience. With 4.82 million metric tons delivered, the numbers remained steady on a quarter-on-quarter basis. This is a particularly noteworthy achievement, given the seasonal challenges posed by monsoon conditions. Yet, the real highlight emerges when we consider the half-yearly data, revealing a substantial 7% year-on-year increase in total deliveries. This surge was largely driven by an upswing in domestic deliveries, with exports experiencing a 52% year-on-year moderation to 0.45 million metric tons.Delving deeper into the domestic delivery landscape for the quarter, several key segments stand out. The Automotive & Special Products segment experienced an impressive 7% increase in deliveries, both on a quarter-on-quarter and year-on-year basis. This boost was supported by the best-ever 2Q sales and a string of approvals from automotive OEMs for cold-rolled steel sourced from the recently commissioned Cold Rolling mill at Kalinganagar.In the Branded Products & Retail segment, deliveries posted a resilient 3% quarter-on-quarter and 6% year-on-year growth. This achievement can be attributed to record-breaking 2Q sales of well-established brands such as Tata Tiscon, Tata Steelium, and Tata Astrum.Meanwhile, the Industrial Products & Projects segment displayed stable quarter-on-quarter performance but registered a notable 4% year-on-year growth. Among its sub-segments, value-added products like cold-rolled and coated variants achieved their best-ever quarterly sales.An interesting facet of Tata Steel's operations is the e-commerce platform known as Tata Steel Aashiyana, catering to Individual Home Builders. In 2QFY2024, this platform generated revenues amounting to Rs. 628 crores, marking an impressive 73% quarter-on-quarter increase, fueled by record-breaking 2Q sales.Shifting our focus to Tata Steel Europe, we observe a positive trend in liquid steel production for the quarter, which reached 1.99 million metric tons. This figure represents an 11% quarter-on-quarter upswing. However, a year-on-year comparison shows a decrease, mainly attributable to the ongoing relining process at one of the blast furnaces in the Netherlands. Total deliveries for Tata Steel Europe in the quarter amounted to 1.79 million tons. This number, although lower, can be partially attributed to subdued demand dynamics.ConclusionThese figures demonstrate Tata Steel's resilience and strategic growth, reflecting the company's commitment to excellence in steel production and delivery.
