Tata Metaliks Limited has disclosed its financial results for Q1 ending June 30, 2023, reporting a drop in revenue but steady growth in the production of Ductile Iron Pipes.
KOLKATA – Tata Metaliks Limited ("TML") has announced its financial results for the first quarter ending June 30, 2023. The company registered revenue from operations amounting to ₹650 Crores and a PBT of ₹6.1 Crores for the quarter.
Compared to Q4 FY’23, TML saw a 30% decrease in revenue and a decline in Pig Iron and Ductile Iron (DI) Pipe deliveries by 42% and 30% respectively, due to the shutdown of one of the blast furnaces for overhauling and repairs since the end of April. However, DI Pipe deliveries have seen a 1.5-fold increase compared to Q1 FY’23, thanks to enhanced production from the new DI Pipe Plant # 2.
The company’s product portfolio now includes pipes ranging from 900 to 1200 mm in diameter, accounting for nearly 30% of sales from the new plant.
Despite the downturn, TML’s Managing Director, Mr. Alok Krishna, expressed optimism for the upcoming quarters, stating that the DI Pipe business has a robust order book for FY’24 execution due to the Government’s water infrastructure projects.
