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Tata Steel has achieved the highest ever annual crude steel production of ~19.9 million tons, with a growth of 4 per cent YoY by debottlenecking across sites and ramp-up of Neelachal Ispat Nigam Limited. In 4Q FY23, crude steel production was up 3 per cent QoQ and stood at around 5.15 million tons.
Tata Steel deliveries increased by 3% YoY despite the volatile operating environment during FY23 and surpassed the previous best recorded in FY22. Domestic deliveries grew by ~10 per cent YoY leveraging our robust marketing network and agile business model. In 4Q FY23, deliveries grew by 9% QoQ to 5.15 million tons and were the highest-ever quarterly deliveries.
Also read: India’s steel demand expected to grow close to GDP rates: Tata Steel MD
The company achieved record domestic deliveries across segments in FY23:
TV Narendran, CEO and MD, Tata Steel said,“Tata Steel reported a record-breaking operational performance in FY23 despite a challenging environment. Our achievement of the highest-ever annual production and deliveries, surpassing the previous records set in FY22, is a testament to our resilience and agility. Our strong marketing network and agile business model enabled us to grow across segments. We are pleased to see the steady ramp-up of Neelachal Ispat Nigam Limited (NINL) during the last two quarters. We will continue to leverage our strengths to sustain this momentum and drive growth.”
Also read: Tata Steel Nederland to supply low carbon steel to steel processors
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