Tata Steel BSL rose 1.53% to Rs 56.40 after the company announced robust production and delivery volumes for the quarter ended on 31 March 2021.
On a provisional basis, the company recorded crude steel production of 1,175 thousand tons in Q4 FY21, registering a growth of 6% QoQ (as against 1,110 thousand tons in Q3 FY21) and 5%YoY (as compared to 1,121 thousand tons in Q4 FY20).
The company's Q4 FY21 sales volumes increased by 4%QoQ (as against 1,149 thousand tons in Q3 FY21) and 22%YoY (as compared to 980 thousand tons in Q4 FY20) to 1,193 thousand tons, driven by higher production and improved market conditions.
In FY21, the company's crude steel production, at 4,085 thousand tons, was lower by 9%YoY (as compared to 4,465 thousand tons in FY20) primarily due to disruption caused by COVID-19 pandemic in H1 FY21.
Tata Steel BSL achieved highest ever annual sales volumes at 4,313 thousand tons with 4%YoY (as compared to 4,139 thousand tons in FY20) growth despite COVID-19 pandemic induced disruption.
"The company remains focused on aggressively managing costs and cashflows while pursuing deleveraging, the steel maker said in a statement.
Tata Steel BSL, a subsidiary of Tata Steel is the largest manufacturer of auto-grade steel in India.
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