In its regulatory filing, Tata Steel pointed out that the company's delivery volume increased by 16%YoY to 4.67 mn tons in 4QFY21; domestic deliveries increased 22%YoY to 4.17 mn tons on the back of the company’s robust marketing network and improved market conditions. Exports were at 11% of overall deliveries. Tata Steel India achieved the highest-ever annual delivery volume of 17.30 mn tons in FY21, despite the COVID-19 pandemic induced disruption in 1HFY21.
Key highlights of the domestic deliveries as per Tata Steel filing are:
- ‘Automotive & Special Products’ segment deliveries grew by 13%QoQ and 57%YoY to 0.78 mn tons in 4QFY21. Full-year FY21 sales volume crossed 2 mn tons mark, registering a 7%YoY growth.
- ‘Branded Products & Retail’ segment deliveries grew 3%QoQ and 23%YoY to 1.45 mn tons in 4QFY21. Gross revenue generated through ‘Aashiyana’, the online platform for Individual HomeBuilders, crossed the quarterly revenue milestone of Rs300cr in 4QFY21, registering a growth of 43%QoQ and 200%YoY.
- ‘Industrial Products & Projects’ segment deliveries grew by 11%YoY to 1.59 mn tons in 4QFY21.
Moreover, in the quarter, the company's steel production at Tata Steel Europe increased to 2.65 mn tons. Steel sales volume rose by 18%QoQ and 4%YoY; volumes improved across the segments amidst improved market conditions and a seasonally stronger quarter. Steel production and sales volume for FY21 were lower on a YoY basis due to the impact of the pandemic.
Tata Steel stated that the company remains focused on aggressively managing costs and cashflows while pursuing deleveraging.
At around 09.56 am, Tata Steel was trading at Rs872.85 per piece up by 1.16% on Sensex.
The stock has hit a new all-time high of Rs883.50 per piece on Dalal Street in early trading hours today.