Tata Steel reports highest ever output in FY 19 after acquisition of Bhushan Steel

Mumbai: Tata Steel India’s operations achieved the highest ever crude production in the fourth quarter of 2018-19, driven by better plant availability across the locations including ramp-up at Tata Steel Bhushan Steel.

The production grew by 46 per cent year-on-year to 4.47 million tonnes, which on an annualised basis works out to 17.88 million tonnes, the company said in regulatory filings at stock exchanges.

India operations recorded the highest ever sales volume in the quarter. Volumes increased by 56 per cent year-on-year and 22 per cent quarter-on-quarter to 4.73 million tonnes, which on an annualised basis works out to 18.92 million tonnes.

Automotive and special products sales crossed 2 million tonnes plus milestone in FY19. The company reported its highest ever output in 2018-19 on the back of its acquisition of Bhushan Steel in 2018.

Tata Steel Europe fourth-quarter sales improved as production grew by 17 per cent quarter-on-quarter with better plant availability. Blast furnace 5 at Port Talbot, which was under shutdown for life extension programme since September 2018, resumed operations in January 2019.

Southeast Asia Q4 FY19 production was down on quarter-on-quarter basis mainly due to maintenance shutdowns at NatSteel Holdings during the Chinese New Year holidays. Sales volume was 3.5 per cent higher on a quarter-on-quarter basis reflecting better sales at Tata Steel Thailand with improved rebar’s market sentiment, the company said.