Tata Steel BSL’s sales volume fell by 20pc to 694,000mt in Q1FY2021 from the prior year, while crude steel production dropped by 41pc to 659,000mt. The company’s production and sales were impacted by the COVID-19 pandemic and lockdown restrictions, which reduced end-user demand.
Steel making operation at Angul plant were ramped up in the second half of June and downstream facilities are also being ramped up progressively in line with improved market demand, according to a company release. Tata Steel returned to pre-COVID sales volume in June with the gradual opening up of the Indian economic and supported by ramp up of production, launch of branded products and higher export sales. Sales were lower in April and May.
Tata Steel acquired Bhushan Steel through its wholly-owned subsidiary and renamed it Tata Steel BSL. The BSL plant has an annual capacity of 5.6mn mt.
|Tata Steel BSL’s production and sales in June|
|Particulars (mt)||Q1 FY21||Q4 FY20||Q1 FY20||Y-o-Y||Q-o-Q|
|Crude steel Production||659,000||1,121,000||1,122,000||-41%||-41%|