Explore the latest updates from Tata Steel’s business report, revealing a significant 6% rise in quarterly crude steel production at its India unit, reaching 5.32 million tonnes. This positive trend is evident in both quarter-on-quarter (QoQ) and year-on-year (YoY) comparisons.

Crude Steel Production Momentum:

In the first nine months of fiscal year 2024, Tata Steel witnessed an overall YoY increase of 4% in crude steel production. The recent quarterly surge emphasizes a favorable trajectory in both domestic and overall production.

Record Deliveries and Sales Milestone:

Tata Steel accomplished record deliveries of 4.88 million tonnes, marking its best-ever sales for the third quarter. The growth, fueled by a 3% QoQ and a significant 10% YoY rise in domestic deliveries, reflects the robust demand for steel in the Indian market.

Boost in Automotive & Special Products Segment:

The ‘Automotive & Special Products’ segment experienced notable growth, with deliveries rising by approximately 8% QoQ and an impressive 22% YoY. This surge was propelled by record-breaking sales in the third quarter, overcoming a slight dip in vehicle production. The segment also achieved the “GreenPro Ecolabel” certification for its automotive flat steel products.

Stability in Branded Products & Retail:

The ‘Branded Products & Retail’ segment maintained overall stability in quarterly deliveries, witnessing a substantial 11% YoY increase. Well-established brands such as Tata Tiscon, Tata Steelium, and Tata Astrum contributed to this growth, with Tata Tiscon achieving commendable volume expansion.

Industrial Products & Projects Showcase:

Shipments within the ‘Industrial Products & Projects’ category saw a noteworthy 5% QoQ increase and a 6% YoY surge. The engineering sub-segment achieved its highest-ever quarterly sales in this category.

Tata Steel Aashiyana’s Impressive Performance:

In Q3 FY24, Tata Steel Aashiyana, the e-commerce platform, reported revenues of ₹572 crore, showcasing substantial 38% YoY growth. For the first nine months, revenues surpassed ₹1,600 crore, reflecting a commendable 13% YoY increase.

International Insights – Netherlands and UK Units:

Tata Steel Netherlands reported a quarterly liquid steel production increase of 5% QoQ. However, the UK unit faced operational challenges, resulting in a slight decrease in both production and deliveries compared to the previous quarter and the same period last year.