Tata Steel Long Products reports highest annual volumes
(Time Zone: Arizona, USA)
Tata Steel Long Products (TSLP) achieved the highest ever quarterly crude steel production of 186 thousand tons with a growth of 7%QoQ and 19%YoY on the back of debottlenecking at steel melting shop and arcing; FY21 production was also highest ever with 11%YoY growth despite disruption caused by COVID-19 pandemic.
Sales volumes in 4QFY21 increased by 4%QoQ and 25%YoY to 172 thousand tons, driven by higher production and improved market conditions. The company achieved the highest ever annual sales volumes at 639 thousand tons with 25%YoY growth. TSLP's continued focus towards mix enrichment resulted in 20%YoY growth in rolled product sales volume along with 38%YoY increase in alloy wire rod sales volume in FY21.
TSLP also achieved the highest ever DRI production in 4QFY21 and FY21. 4QFY21 DRI sales volume increased by 6%QoQ and 12%YoY to 172 thousand tons; FY21 DRI sales volumes increased marginally on YoY basis to 632 thousand tons.
The company continues to closely monitor the resurgence of COVID-19 cases and take appropriate actions in line with the directions issued by the regulatory authorities keeping in view the health and safety of its employees and the community, and the interests of its customers and other stakeholders.
TSLP remains focused on aggressively managing costs and cashflows while pursuing deleveraging.
Shares of Tata Steel Long Products Ltd. was last trading in BSE at Rs.747.15 as compared to the previous close of Rs. 734.95. The total number of shares traded during the day was 4582 in over 457 trades.
The stock hit an intraday high of Rs. 767 and intraday low of 741.35. The net turnover during the day was Rs. 3455503.