India volumes grow 16% YoY in 4QFY21
Europe volumes too recover (up 4% YoY) with 18% QoQ volume growth
Tata Steel in a press release has provided an operational update (provisional) for 4QFY21. The management highlighted that improved market conditions helped grow its domestic volumes by 22% YoY in 4QFY21.
* Tata Steel’s India sales volumes stood flat QoQ at 4.67mt (up 16% YoY). Production grew marginally YoY to 4.75mt (up 2% QoQ), the highest ever quarterly production. The share of exports stood at 11% of volumes (11% in 3QFY21).
* Domestic volumes were higher by 22% YoY at 4.17mt (flat QoQ). This was supported by YoY growth across key business verticals: a) Auto: 0.78mt, up 13% QoQ /57% YoY; b) Branded and Retail: 1.45mt, up 3% QoQ/23% YoY, and c) Industrial Products and Projects: 1.59mt, down 6% QoQ but up 11% YoY.
* Standalone sales stood at 3.31mt, down 1% QoQ but up 14% YoY.
* Tata Steel BSL sales improved by ~4% QoQ (22% YoY) to 1.19mt. Exports stood at 16% of overall volumes v/s 18% in 3QFY21.
* Tata Steel Europe sales improved ~18% QoQ (~4% YoY) to 2.49mt (in line) on improved demand and seasonality. Production improved by ~2% QoQ to 2.65mt (flat YoY).
* During FY21, Tata Steel achieved record high sales of 17.3mt in its India operations, supported by higher exports (21% in FY21 v/s 14% in FY20). Production, however, declined 4% YoY to 17mt due to a COVID-led lockdown in Apr’20.
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