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Tata Steel reports strong results for Indian operations in 2018-19-The 20th China (Guangzhou)Int’l Fastener & Equipment Exhibition
4/26/2019 緊固件展-緊固件采購會-國際緊固件展-fastener expo |
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Tata Steel announced that its Indian steel production grew by 35%YoY to 16.81 million tonnes in FY19 with the acquisition of Tata Steel BSL as well as ramp-up at both Kalinganagar and Tata Steel BSL. India steel deliveries jumped 33%YoY to 16.26 million tonnes in FY19 and now account for more than 62% of consolidated volumes. India operations continued to gain market share in chosen segments. Industrial Products and Projects segment sales grew by 42%YoY. Branded products, Retail & Solutions segment sales grew by 30%YoY; Automotive segment sales increased by 21%YoY. Automotive steel sales volume crossed 2.25 million mark in FY19. India revenues from operations for the year increased by 47%YoY to INR 88,987 crores driven by higher volumes and better realizations. India adjusted EBITDA for the year increased by 56%YoY to INR 23,883 crores. EBITDA margin stood at 26.8% and adjusted EBITDA per tonne was INR 14,687 per tonne.
Mr TV Narendran, CEO & Managing Director, said “Tata Steel continues to grow its footprint in India in terms of volumes, downstream capability and product portfolio.
Our strategy of focusing on operational excellence, strong customer relationships, superior distribution network and brands is paying rich dividends. Despite subdued steel markets and weak growth in our key customer segments, this year our volumes in India grew by over 33% leading to a significant improvement in our overall profitability and cashflows. The proposed merger of Tata Steel BSL with Tata Steel will accelerate operational synergies and simplify our corporate structure. Our 5 MTPA Kalinganagar Phase II expansion will help us to further consolidate our presence in India and strengthen our financial performance. We are excited about the recently completed acquisition of the 1 MTPA steel business of Usha Martin which is an important milestone in our plans to grow our long products business. We continue to work closely with the European Commission on seeking approvals for our planned European steel JV with thyssenKrupp.”
緊固件展-2019第二十屆廣州國際緊固件及設備展覽會-巨浪展覽
-The 20th China (Guangzhou)Int’l Fastener & Equipment Exhibition
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