Tata Steel sales up 15% in FY 17

KOLKATA: Tata Steel posted a 15% rise in sales volume in FY17, reporting its highest-ever annual sales volume of 10.94 million tonnes, compared to FY16 sales of 9.54 million tonnes. The jump in sales was led by the company's best ever sales of automotive steel which grew by 9% to cross 1.54 million tonnes. Tata Steel' automotive sales, which beat industry's average growth of ~6%, took its market share to 44% in FY 17 from 42% in FY16.

The company's exports too went up at 7% of total volume in FY17 as against 2% of total volume in FY16. Tata Steel also attributed its improved sales performance to a best-ever branded B2C sales of ~1.6 million tonnes in FY17 as against 1.56 million tonnes in FY16. It achieved a market share of 47% (1 out of every 2 cylinders is made from Tata Steel) in the LPG segment. Revenue from Services & Solutions business for steel division registered a growth of 16% YoY in FY17.

At Jamshedpur, its blast furnaces achieved a best-ever Hot Metal FY17 production of 10.83 million tonnes, against previous best 10.66 million tonnes in FY16. At the new plant at Kalinganagar, the blast furnace achieved 2 million tonnes of Hot Metal production in FY17.