Meanwhile, deliveries were the “best ever 3Q” sales at 5.29 million tonnes, a company filing on Tuesday said. The India deliveries were up 4% QoQ and 8% YoY, aided by steady sales in the domestic market and strategic presence in exports, the company said in its quarterly updates. For 9MFY25, deliveries were at around 15.3 million tonnes, with 4% YoY growth in domestic deliveries.
The new blast furnace is presently operating at 8,000 tpd and the ramp up to rated capacity is underway, the filing said.
Key Highlights of Domestic Deliveries for 9MFY25:
— Automotive & Special Products vertical deliveries were at 2.3 million tonnes, driven by 3% YoY growth in high end products. Continuous Annealing Line (CAL), part of 2.2 MTPA CRM complex at Kalinganagar, was commissioned in December and has received facility approvals from some of the major OEMs.
— Branded Products & Retail vertical deliveries were at 5.1 million tonnes, up 6% YoY aided by performance of well-established brands. Tata Tiscon (Retail brand) deliveries were up 20% YoY and Tata Steelium (cold rolled brand for SMEs) deliveries were up 7% YoY.
— Industrial Products & Projects’ vertical deliveries were at 5.3 million tonnes and were broadly steady on YoY basis. However, value accretive segments such as Engineering and Ready-to-use solutions registered double digit growth.— Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, were up 37% YoY to Rs. 2,154 crores.”Growth has been consistently aided by various strategic initiatives to enhance consumer experience,” the company filing said.
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Tata Steel’s overseas subsidiaries include Tata Steel Netherlands, Tata Steel UK and Tata Steel Thailand.
Tata Steel Netherlands liquid steel production for the quarter stood at 1.76 million tonnes and deliveries were 1.53 million tonnes. Deliveries include volumes to UK operations of around 0.12 million tonnes. For 9MFY25, deliveries were up 16% YoY, primarily due to improved production.
Following closure of the blast furnaces at the end of 2QFY25, Tata Steel UK has successfully reconfigured its supply chain to continue servicing customers via downstream processing of purchased substrate. For 9MFY25, deliveries stood at 1.87 million tons and were adversely impacted by subdued demand dynamics.
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Tata Steel shares target price
According to Trendlyne, 14 out of 30 analysts recommend a ‘buy or strong buy’ on Tata Steel shares, with nine suggesting a ‘hold’ and another seven advising a ‘strong sell.’ The average 12-month target price is Rs 162, indicating a potential upside of 21% from current levels.
Tata Steel shares performance
On Tuesday, Tata Steel shares closed at Rs 133.3, up 0.87% on the BSE, while the benchmark Sensex surged 0.3%. The stock has declined 24% over the past six months but gained 15% in the last two years. The company’s market capitalization stands at Rs 1,66,466 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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