Jamshedpur: Tata Steel on Tuesday reported an exceptional performance with consolidated Q4 FY17 Earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 6982 crore – 1100 basis points higher YOY and defines the strong performance beating industry trends. The consolidated full year EBIDTA is Rs 17,025 crore – a level last achieved in FY11.
“Tata Steel Kalinganagar registered a production of 2.2 MnT of Hot Metal at a record ramp up rate since production commencement in May’16. Hot rolled coil production also crossed 1.5 MnT in FY17. The products of TSK have been very well received in the market and this augurs very well for FY18,” said a company statement.
Company sources said the sales volumes at 10.97 MnT registered a growth of 18% YOY significantly out performing domestic markets which grew @0.6% YOY. Sales to automotive segment grew by 9% YOY consolidating the market share of over 43%. Branded products now contribute 45% of total sales making TSL well positioned to mitigate fluctuating demand scenarios.
Reduction of gross debt by over Rs.1700 crore from the previous quarter despite a capital expenditure of Rs 2092 crore & robust cash reserves @ Rs 19800 crore exemplifies fiscal discipline.
The improved performance of SEA operations and the Ferro Alloy & Mineral Division is expected to consolidate future performance of the company, said the company spokesperson.