Tata Steel Ltd posted consolidated profit after tax from continuing operations before exceptional items at ₹1,550 crores for Q1FY18 compared to ₹377 crores in Q1FY17 and ₹3,352 crores in Q4FY17. The steel major’s consolidated quarterly revenues of ₹30,973 crores is up 19 percent over the last year but down by 12 percent quarter on quarter.
Its consolidated deliveries stood at 5.83 million tons, with India contributing to 47 percent of Group deliveries. The consolidated EBITDA is at ₹4,939 crores for Q1FY18 with an EBITDA margin of 16 percent.
Exceptional items for the quarter were ₹617 crores mainly relating to provision for mining related litigation. The gross debt increased by ₹4,798 crores due to forex impact, inventory buildup in India as a result of GST implementation and seasonal trends in Europe.
The company’s net debt was ₹71,703 crore and cash and cash equivalent at ₹16,109 crores at the end of the quarter. The total liquidity including undrawn bank lines is ₹23,827 crores.
India Operations
Tata Steel’s India deliveries of 2.75 million tons in Q1FY18, an increase of 28 percent over corresponding quarter of the last year was largely due to the ramp up of Kalinganagar facility. Sequential decline of 14 percent is due to seasonal factors, GST and planned shutdowns.
This story is from the September 2017 edition of Steel Insights.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2017 edition of Steel Insights.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
