PINAKI MAJUMDAR
Jamshedpur, April 6: Tata Steel has achieved the highest-ever annual crude steel production of 19.9 million tons, with a growth of 4 % year-on-year.
Tata Steel (Indian operation) deliveries increased by 3% YoY despite a volatile operating environment during the financial year and surpassed the previous best recorded in FY22.
Domestic deliveries grew by 10% YoY leveraging a robust marketing network and agile business model. The automotive and special products’ segment deliveries increased by 5% YoY in FY23 to be at 2.7 million tons, surpassing the previous best recorded in FY22.
Neelachal Ispat Nigam Limited (NINL) began operations within three months of the completion of the acquisition and has steadily ramped up during the last two quarters.
Commenting on the performance T. V. Narendran, CEO & MD, Tata Steel said, “Tata Steel India reported a record-breaking operational performance in FY23 despite a challenging environment. Our achievement of the highest-ever annual production and deliveries, surpassing the previous records set in FY22, is a testament to our resilience and agility. Our strong marketing network and agile business model enabled us to grow across segments. We are pleased to see the steady ramp-up of Neelachal Ispat Nigam Limited (NINL) during the last two quarters.”
“We will continue to leverage our strengths to sustain this momentum and drive growth,” he added.
