Tata Steel India sales increased 7% QoQ with higher demand pull from market
Deepthi | Myequity news | Date : 08-10-2018 18:15:00 IST
Tata Steel India
Q2FY19 sales increased 7% QoQ and production was higher mainly due to better plant availability. Automotive & Special Products sales grew by 17% YoY to 552 KT in Q2FY19, mainly driven by higher demand from Auto Sector.
Tata Steel Europe Bhushan Steel
Q2FY19 production was impacted by shutdowns for ongoing upgradation program, annual maintenances in seasonally weaker quarter; two unplanned outages also impacted production. Q2FY19 deliveries were lower due to lower production; further impacted by seasonality.
Tata Steel South East Asia
Q2FY19 production improved on QoQ basis but was lower on YoY basis at both Tata Steel Thailand and Nat Steel. Nat Steel production was impacted by annual maintenance, other production related issues. Tata Steel Thailand production was lower in-line with weak demand in Thailand.
Q2FY19 sales increased 34% QoQ as improved marketing strategy helped in inventory reduction. About Tata Steel:
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 27.5 million tonnes per annum (MTPA) as on March 31, 2018. It is one of the world's most geographically-diversified steel producers, with operations in 26 countries and a commercial presence in over 50 countries. The Group recorded a consolidated turnover of US $20.41 billion (INR 133,016 crore) in FY18. Tata Steel Group is spread across five continents with an employee base of over 65,000. Tata Steel retained Industry Leader position in FY18 and ranked second overall in the DJSI assessment, 2017.