Tata Steel India’s Production Increased by 4% in FY24, While Sales Increased by 6% to 20 Million Tons

The retail, automotive, and railway sectors all saw a 6% increase in demand for Tata Steel India’s deliveries, which reached 19.90 million tonnes in FY24.

In the previous fiscal year 2022–2023 the company produced 18.85 million tonnes (MT) of steel in India, according to a statement released by Tata Steel on Saturday. Deliveries to the automotive and special products market surpassed the previous high in FY23, rising by 8% to 2.9 MT in FY24.

Deliveries to the retail segment and branded goods climbed by 11% to 6.5 MT in FY24. Delivery of 7.7 MT, or industrial products and projects, increased by 6%. According to the corporation, pre-engineered buildings and railroads led the engineering subsegment’s best-ever annual revenues.

“Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, stood at Rs 2,240 crore in FY24 and were up 30 per cent, driven by best-ever 3Q and 4Q sales,” it stated.

In 2023–24, the Indian company produced a record 20.8 MT of crude steel, which was 4% more than the 19.88 MT produced in the previous fiscal year. Production of crude steel was 5.38 MT in 4Q FY24 compared to 5.15 MT in Q4 FY23.

In FY24, Tata Steel Netherlands produced 4.80 MT of liquid steel, of which 5.30 MT were delivered. Sales were 5.62 MT in FY23, while output was 6.33 MT.

In FY24, Tata Steel UK produced 3.02 MT of liquid steel, while deliveries totaled 2.80 MT. Sales were 2.95 MT and production was 3.02 MT in FY23.