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Tata Steel India reported a 6% increase in deliveries to 19.90 million tonnes in FY24, driven by increased retail, automotive, and railway demand. According to a statement from Tata Steel, the company produced 18.85 million tonnes (MT) of steel in India in the previous fiscal year, 2022–2023.
Deliveries of automotive and special products climbed by 8% in FY24 to 2.9 MT, breaking the previous record set in FY23. Deliveries of branded products and retail segments climbed by 11% to 6.5 million tonnes. Deliveries in the industrial products and projects segment increased by 6% to 7.7 MT.
The company said that among sub-segments, engineering registered the best-ever annual sales led by pre-engineered buildings and railways, among others. "Revenues from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders, stood at ₹2,240 crore in FY24 and were up 30% driven by best-ever 3Q and 4Q sales," it added.
The company in India produced a record 20.8 MT crude steel in 2023-24, 4% higher than the previous fiscal year's 19.88 MT.
In 4Q FY24, crude steel production stood at around 5.38 MT, compared to 5.15 MT in Q4 FY23. Tata Steel Netherlands liquid steel production in FY24 was 4.80 MT, and deliveries were 5.30 MT.
In FY23, the output was 6.33 MT, and sales stood at 5.62 MT. Tata Steel UK's liquid steel production in FY24 stood at 3.02 MT, and deliveries were at 2.80 MT. In FY23, the output was 3.02 MT and sales at 2.95 MT.
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