Steel Giant Posts Highest Ever Deliveries, Surpassing Previous Best in FY2023
Tata Steel India has achieved its highest ever annual crude steel production of approximately 20.8 million tons in FY2024, marking a 4% year-on-year growth, driven by debottlenecking across sites and higher steel production at Neelachal Ispat Nigam Limited.
JAMSHEDPUR – In a remarkable feat, Tata Steel India has surpassed its previous best performance recorded in FY2023, with crude steel production remaining broadly stable at around 5.38 million tons in the fourth quarter of FY2024.
Record-Breaking Deliveries and Domestic Growth
Tata Steel India’s deliveries increased by 6% year-on-year, surpassing the previous best recorded in FY2023.
Domestic deliveries grew at an even higher rate of 9% year-on-year, leveraging India’s steel demand growth and the company’s agile business model.
The fourth quarter of FY2024 witnessed the highest ever quarterly deliveries, with a growth of 11% quarter-on-quarter and 5% year-on-year, reaching 5.41 million tons.
Key Segment Highlights in Domestic Deliveries
The ‘Automotive & Special Products’ segment delivered around 2.9 million tons in FY2024, an increase of 8% year-on-year, surpassing the previous best recorded in FY2023.
The ‘Branded Products & Retail’ segment saw deliveries increase by 11% year-on-year to approximately 6.5 million tons, driven by record annual sales of the well-established retail brand Tata Tiscon, which crossed 2 million tons.
The ‘Industrial Products & Projects’ segment deliveries increased by 6% year-on-year to around 7.7 million tons, with the engineering sub-segment registering its best ever annual sales led by pre-engineered building and railways, among others.
Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, recorded revenues of Rs. 2,240 crores in FY2024, up 30% year-on-year, driven by best ever third and fourth quarter sales.
All Figures are in million tons
|
Items |
4QFY24 (Provisional) |
3QFY24 (Actual) |
4QFY23 (Actual) |
FY2024 |
FY2023 |
|
Production volume1: |
|||||
|
Tata Steel India2 |
5.38 |
5.35 |
5.15 |
20.76 |
19.88 |
|
Tata Steel Netherlands |
1.47 |
1.19 |
1.53 |
4.80 |
6.33 |
|
Tata Steel UK |
0.70 |
0.72 |
0.74 |
3.02 |
3.02 |
|
Tata Steel Thailand |
0.31 |
0.27 |
0.31 |
1.12 |
1.20 |
|
Delivery volumes3: |
|||||
|
Tata Steel India2 |
5.41 |
4.88 |
5.15 |
19.90 |
18.85 |
|
Tata Steel Netherlands |
1.40 |
1.30 |
1.48 |
5.30 |
5.62 |
|
Tata Steel UK |
0.69 |
0.64 |
0.76 |
2.80 |
2.95 |
|
Tata Steel Thailand |
0.32 |
0.25 |
0.31 |
1.12 |
1.21 |
Performance in Europe
Tata Steel Netherlands reported liquid steel production of 4.80 million tons and deliveries of 5.30 million tons in FY2024.
Production and deliveries improved on a quarter-on-quarter basis in the fourth quarter, primarily driven by the restart of BF6 upon completion of relining in early February.
Tata Steel UK’s liquid steel production stood at 3.02 million tons, and deliveries were at 2.80 million tons in FY2024.
While production remained broadly stable on a quarter-on-quarter basis, deliveries increased by 8% to 0.69 million tons in the fourth quarter, following the impact of seasonal factors on third quarter deliveries.
