Tata Steel BSL records highest-ever quarterly production in Q4FY21 at 1.18MT; Stock hits all-time high

Tata Steel BSL said that FY21 production was lower by 9%YoY primarily due to disruption caused by the COVID19 pandemic in 1HFY21.

Apr 07, 2021 10:04 IST India Infoline News Service

Tata Steel BSL has achieved the highest ever quarterly crude steel production of 1.18 mn tons in registering a growth of 6% qoq and 5% yoy. The Tata Steel-led company said that FY21 production was lower by 9% yoy primarily due to disruption caused by the COVID19 pandemic in 1HFY21.

According to the regulatory filing, Tata Steel BSL's 4QFY21 sales volumes increased by 4% qoq and 22% yoy to 1.19 mn tons, driven by higher production and improved market conditions. Tata Steel BSL achieved the highest-ever annual sales volumes at 4.31 mn tons with 4%YoY growth despite COVID-19 pandemic induced disruption.

Further, Tata Steel BSL increased its domestic deliveries by 6% qoq to 1,006 thousand tons and reduced exports from 18% in 3QFY21 to 16% in 4QFY21.

Tata Steel BSL said that the company remains focused on aggressively managing costs and cashflows while pursuing deleveraging.

At around 10.10 am, Tata Steel BSL  was trading at Rs56.65 per piece up by 1.98% on Sensex. The stock has hit a new all-time high of Rs57.10 per piece during early deals on the index. 

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