Tata Steel reported a profit of 2,430.92 crore (attributable to the shareholders) for the quarter ended March 31. Analysts had projected a profit of 2,330 crore.
“Results for the periods relating to current year include Tata Steel BSL starting May 18, 2018, hence not comparable with previous periods,” the steel firm said in a regulatory filing. Consolidated revenue came in at 42,423.86 crore in Q4FY19.
The board of the company recommended a dividend of 13 per fully paid equity share and 3.25 per partly paid equity share.
The dividend, if approved by the shareholders at the AGM, will be paid on and from July 23. Consolidated margin stood at 17.70 percent in Q4FY19. The company said that Q4 margin hit by lower realizations and input cost and uncertainty over trade environment is still a risk.
Segment-wise, Ebitda per ton from India operation stood at 13,619, down 8.20 percent y-o-y. On the other hand, Europe Ebitda per ton jumped 48 percent to 6,591. Consolidated deliveries increased 25.50 percent y-o-y to 7.52 million tons.
The board has considered and approved a merger of Bamnipal Steel Limited and Tata Steel BSL Limited (formerly Bhushan Steel Limited) into the Company by way of a composite scheme of amalgamation and have recommended a merger ratio of 1 equity share of 10 each fully paid up of the company for every 15 equity shares of each fully paid up held by the public shareholders of Tata Steel BSL.
TV Narendran, CEO & Managing Director said, “Tata Steel continues to grow its footprint in India in terms of volumes, downstream capability and product portfolio. Our strategy of focusing on operational excellence, strong customer relationships, superior distribution network and brands is paying rich dividends. Despite subdued steel markets and weak growth in our key customer segments, this year our volumes in India grew by over 33 percent leading to a significant improvement in our overall profitability and cash flows. The proposed merger of Tata Steel BSL with Tata Steel will accelerate operational synergies and simplify our corporate structure.”
Diese Geschichte stammt aus der May 2019-Ausgabe von Steel Insights.
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Diese Geschichte stammt aus der May 2019-Ausgabe von Steel Insights.
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