Jamshedpur, April 29: Tata Metaliks Limited (TML) declared its financial results for the quarter and financial year ended March 31, 2023.
While the company recorded revenue from operations of Rs 926 crores and PBT of Rs 67 crores for the quarter ending March 31, 2023, the figures for the full year FY’23 stood at Rs 3,260 crores and Rs 101 crores respectively.
The Board of Directors has recommended a dividend of Rs 5 per fully paid equity share (face value of Rs 10 each).
The Ductile Iron (DI) Pipe Plant-2 (new plant) production had a vertical ramp-up and its production of Finished Pipes touched 35 kt in the quarter (25 kt in Q3 FY’23).
The company’s product portfolio now covers the larger size range of 900 to 1200 mm diameter pipes which constituted almost 30 % of sales from the new plant.
Revenue for the quarter saw an increase of 17% Q-o-Q caused mainly by higher deliveries of DI Pipe by ~33% and higher realization of both Pig Iron and DI Pipe by ~2% and 8% respectively.
Delivery of DI Pipe was also higher by ~50% compared to the last quarter of FY’22 and 25% Y-o-Y with higher volumes available from new plant.
Alok Krishna, managing director of Tata Metaliks said: “Pig Iron business was adversely affected by weak market sentiments of commodity prices. Domestic demand of Pig Iron is expected to firm up in the coming quarters as utilization levels in several segments like general castings and agriculture are likely to improve. Imported coal price is expected to remain range bound as indicated by trend of coal futures.”