Tata Steel India achieved its highest ever annual crude steel production of 19 million tonne, with 13% growth in the financial year ended March 2022 over last year, despite the Covid second wave-related disruption early in the year, the company said on Tuesday.
During the three months of January to March, crude steel production increased 2% sequentially and stood at 4.90 million tonne. Tata Steel India deliveries increased by 6% YoY in FY22, surpassing the previous best recorded in FY21.
Domestic deliveries grew by 14% YoY driven by improved demand and the company’s robust marketing network. In the fourth quarter, deliveries grew by 16% sequentially to 5.12 million tonne — the highest ever quarterly deliveries.
Automotive and special products’ segment deliveries increased by 27% YoY in FY22 to cross 2.5-million tonne mark; the fourth quarter deliveries were up 4% QoQ on improved auto OEM production, especially in passenger and commercial vehicles.
Branded products & retail segment deliveries increased by 11% YoY in FY22 to cross 5.2-million tonne mark; fourth quarter deliveries were higher by 16% QoQ driven by strong brands performance and micro-segment approach in the MSME segment.
Industrial products and projects segment deliveries increased by 12% YoY in FY22 to cross 6.3-million tonne mark; fourth quarter deliveries were higher by 11% QoQ with increased focus on value added products.
Tata Steel Aashiyana, an e-commerce platform for individual home builders, registered gross revenues of Rs 1,465 crore in FY22, which was more than double the FY21 gross revenues.
Tata Steel Europe steel production in FY22 grew by 6% YoY and total deliveries increased by 2% YoY driven by broad based improvement in most steel consuming sectors. During Q4FY22, production was down 9% QoQ due to operational issues primarily in the UK, however deliveries were up 9% sequentially.