Sales volumes rise by 61% YoY in Q1FY22
Tata Steel BSL achieved crude steel production of 1171 thousand tons (KT) in Q1FY22 compared to 1175 KT in Q4FY21 and 659 KT in Q1FY21. The company registered sales of 1119 KT in Q1FY22 compared to 1193 in Q4FY21 and 696 KT in Q1FY21.Key Highlights:
1QFY22 Crude Steel production and Sales volume increased by 78%YoY and 61%YoY, respectively as 1QFY21 was impacted due to the COVID-19 pandemic and the stringent nationwide lockdown.
During the quarter, Crude Steel production remained largely at par on QoQ basis. However, Sales volume was impacted due to partial lockdowns announced by some of states and temporary shutdowns in few steel consuming sectors amidst the 2nd wave of COVID-19 pandemic. The domestic market has been improving since mid-June 21 with easing lockdowns. The Company has launched B2ECA brand Tata Astrum in 1QFY22.
Tata Steel BSL has undertaken several vaccination drives at all of its operating locations. Currently, around 80% of its employees are vaccinated for the first dose. The Company continues to closely monitor COVID-19 situation 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.
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