Tata Steel achieves highest ever annual sales, grows 11%
NEW DELHI: Tata Steel achieved its highest-ever annual sales of 12.13 million tonne in FY18 and registered a growth of 11% against a market growth of around 5%, the company said in a statement.
The company's annual sales growth was driven by sales in automotive sector which registered a growth of 21% in FY18 against an industry growth of 14%. The growth was mainly driven by two-wheelers & three- wheelers. Tata Steel also reported a 9% year-on-year increase in sales of Branded Products & Retail sector in FY18.
Tata Steel also said it touched the of one million tonne mark in annual exports in FY18. Tata Steel's blast furnaces in Jamshedpur achieved best-ever hot metal production in FY18 of 10.95 million tonne, beating its previous best figures of 10.83 million tonne in FY17. It also reported its
best-ever saleable steel production of 9.78 million tonne in FY18 compared to its previous best of 9.70 million tonne in FY17.
The company's annual sales growth was driven by sales in automotive sector which registered a growth of 21% in FY18 against an industry growth of 14%. The growth was mainly driven by two-wheelers & three- wheelers. Tata Steel also reported a 9% year-on-year increase in sales of Branded Products & Retail sector in FY18.
Tata Steel also said it touched the of one million tonne mark in annual exports in FY18. Tata Steel's blast furnaces in Jamshedpur achieved best-ever hot metal production in FY18 of 10.95 million tonne, beating its previous best figures of 10.83 million tonne in FY17. It also reported its
best-ever saleable steel production of 9.78 million tonne in FY18 compared to its previous best of 9.70 million tonne in FY17.
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