Tata Steel India has achieved a 8%YoY production growth for the full year FY20. And as per an official release from the company it also had the best ever annual sales.
This was supported by ramp up of Tata Steel BSL and acquisition of Usha Martin Steel business by Tata Steel Long products; Tata Steel BSL also recorded its best ever annual performance.
Tata Steel India witnessed highest ever annual sales in Branded Products and Retail segment with an increase of 8% over FY19. The company was successful in maintaining volumes for Industrial Products & Projects segment with a strong increase in sales in Oil & Gas and Industrial Pipe segment said the release. It also sustained its focus on Automotive & Special products segment and increased share of high-end sales in the segment volume from 19.5% in FY19 to 25% in FY20.
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MnTPA).
It is one of the world’s most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US $22.67 billion in the financial year ending March 31, 2019. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd).