Tata Steel Ltd posted consolidated profit after tax from continuing operations before exceptional items at ₹1,550 crores for Q1FY18 compared to ₹377 crores in Q1FY17 and ₹3,352 crores in Q4FY17. The steel major’s consolidated quarterly revenues of ₹30,973 crores is up 19 percent over the last year but down by 12 percent quarter on quarter.
Its consolidated deliveries stood at 5.83 million tons, with India contributing to 47 percent of Group deliveries. The consolidated EBITDA is at ₹4,939 crores for Q1FY18 with an EBITDA margin of 16 percent.
Exceptional items for the quarter were ₹617 crores mainly relating to provision for mining related litigation. The gross debt increased by ₹4,798 crores due to forex impact, inventory buildup in India as a result of GST implementation and seasonal trends in Europe.
The company’s net debt was ₹71,703 crore and cash and cash equivalent at ₹16,109 crores at the end of the quarter. The total liquidity including undrawn bank lines is ₹23,827 crores.
India Operations
Tata Steel’s India deliveries of 2.75 million tons in Q1FY18, an increase of 28 percent over corresponding quarter of the last year was largely due to the ramp up of Kalinganagar facility. Sequential decline of 14 percent is due to seasonal factors, GST and planned shutdowns.
この記事は Steel Insights の September 2017 版に掲載されています。
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