Tata Steel Q4 update: Company records highest annual crude steel production, domestic deliveries up 9% YoY

Domestic deliveries grew by 9 percent YoY, leveraging the country's steel demand growth and an agile business model.

In 4QFY24, deliveries grew 11 percent QoQ and 5 percent YoY to 5.41 million tonnes and were the highest ever quarterly deliveries.

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The Netherlands and UK 

Subsidiary Tata Steel Netherlands posted steel production of 4.80 million tonnes in FY24 while deliveries were at 5.30 million tonnes. For the quarter, production and deliveries improved on a QoQ basis primarily driven by a restart of BF6 upon completion of relining in early February, the company said in a regulatory filing.

Tata Steel UK's liquid steel production in FY24 stood at 3.02 million tonnes and deliveries were at 2.80 million tonnes. For the quarter, production was broadly stable on a QoQ basis while deliveries were up 8% to 0.69 million tonnes.

Other Key Highlights

Branded Products & Retail' segment deliveries increased by 11 percent YoY in FY24 at 6.5 million tonnes, surpassing the previous best recorded in FY23, primarily driven by record annual sales of the well-established retail brand Tata Tiscon, which crossed 2 million tonnes.

Tata Steel Aashiyana's revenues stood at Rs. 2,240 crore in FY24 and were up 30 percent YoY driven by the company's best-ever 3Q and 4Q sales. Aashiyana is the company's e-commerce platform for individual home builders.

Tata Steel posted a consolidated net profit of Rs 522.14 crore in the October-December quarter, from a net loss of Rs 2,501.95 crore in the corresponding quarter of the previous year, helped by a robust domestic demand offsetting weakness in Europe.