Tata Steel India – Highest-ever annual production in FY23

Tata Steel India achieved its highest-ever annual crude steel output of roughly 19.9 million tons, up 4% year on year, thanks to debottlenecking across sites and the ramping up of Neelachal Ispat Nigam.

Despite a turbulent operating environment during the fiscal year, deliveries climbed by 3% year on year, exceeding the company’s previous peak established in FY22.

Furthermore, domestic deliveries increased by roughly 10% year on year due to the company’s robust marketing network and nimble business approach, according to a corporate announcement.

Meanwhile, crude steel output increased by 3% year on year to roughly 5.15 million tons in the fourth quarter of FY23, while deliveries increased by 9% year on year to 5.15 million tons.

Tata Steel India

Due to debottlenecking across sites and the ramping up of Neelachal Ispat Nigam, Tata Steel India achieved its highest-ever annual crude steel output of around 19.9 million tons, up 4% year on year.

Despite a challenging operating climate during the fiscal year, deliveries increased by 3% year on year, surpassing the company’s previous high set in FY22.

According to a corporate announcement, domestic deliveries climbed by around 10% year on year thanks to the company’s robust marketing network and nimble business style.

Meanwhile, crude steel output climbed by 3% year on year in the fourth quarter of FY23 to about 5.15 million tons, while deliveries increased by 9% year on year to 5.15 million tons.Revenues from Tata Steel Aashiyana, an e-commerce platform for individual home builders, increased by roughly 18% year on year to Rs 1,730 crore in FY23.

Neelachal Ispat, which commenced operations three months after the transaction was completed, has steadily scaled up over the last two quarters, with an annualized crude steel plus pig iron run rate of roughly 1 million tons. Tata Tiscon rebars are produced using NINL billets.

Tata Steel Europe’s steel deliveries in FY23 were estimated to be around 8.1 million tons. Deliveries increased by 7% year on year to 2.13 million tons in the fourth quarter of FY23, owing to an improving market climate.