Tata Steel recently announced its preliminary output and delivery volumes for 4QFY2023 and FY2023. By eliminating bottlenecks at various sites and expanding Neelachal Ispat Nigam Ltd., Tata Steel India obtained its highest-ever annual crude steel production of 19.9 million tonnes, an increase of 4% YoY. In 4QFY23, primary steel production increased by 3% QoQ to 5.15 million tonnes.
According to preliminary data released by the steelmaker on April 5, Tata Steel’s output volume in India increased by 5.1 per cent YoY to 5.15 million tonnes in the fourth quarter of the fiscal year 2022–23.
Production on the Indian market totalled 4.90 metric tonnes during the same time last year.
Tata Steel India’s deliveries increased by 3% YoY during the fiscal year despite a difficult operating climate, breaking the previous record set in FY22. Domestic dispatches increased by about 10% YoY thanks to the company’s robust marketing network and flexible business strategy. In the fourth quarter of FY23, deliveries increased by 9% QoQ to 5.15 million tonnes, setting a milestone for quarterly deliveries.
Industry-wise Deliveries for the market
Deliveries for the market for special products and the automotive industry increased by 5% YoY to 2.7 million tonnes in FY23, surpassing the prior high from FY22. Vehicle OEM output fell by 4% QoQ in the fourth quarter of FY23, but deliveries increased by 8% QoQ. Deliveries for the “Branded Products & Retail” category increased by 11% to 5.9 million tonnes in FY23, breaking the previous record established in FY20, according to Tata Steel. The primary drivers of this recorded quarterly and annual sales for well-known retail and MSME (Micro, Small & Medium Enterprises) brands like Tata Tiscon, Tata Kosh, Tata Astrum, and Tata Steelium. The highest quarterly sales ever were achieved in 4QFY23 thanks to a 16% QoQ increase in deliveries.
Deliveries for the business’s “Industrial Products & Projects” division increased by 14% to 7.2 million tonnes in FY23, breaking the previous high from FY22, according to the company.
Europe Delivery Volume
As for the deliveries made in Europe during Q4 FY23, Tata Steel, one of the top steel producers on the European market, saw a decline of 11.3 per cent year over year.
