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Tata Steel Long Products (TSLP) has reported 17.37% rise in its total production to 446 thousand tonne (KT) during the Q4FY23 as compare to 380 KT in the same quarter of the previous fiscal. Of the total production, crude steel production of the company was 330 KT up 98.80% from 166 KT in the same period a year ago, while its Direct Reduced Iron production came down by 45.79% to 116 KT in Q4FY23 as compared to 214 KT in the same quarter of the previous fiscal.
During the reporting period, the company’s total sales increased by 12.62% to 348 KT from 309 KT in the corresponding period of last year. Of the total, saleable steel sales increased by 88.61% to 298 KT for the quarter under review as compared 158 KT for the same quarter in the previous year, while direct reduced iron sales during the Q4FY23 period fell 66.89% to 50 KT from 151 KT in the year-ago quarter.
In FY23, crude steel production up by 33% to 910 KT as compare to 684 KT in FY22. Besides, saleable steel sales reported 26% rise to 822 KT in FY23 as compare to 652 KT in FY22. This was in part due to Neelachal Ispat Nigam (NINL), which began operations within 3 months of completion of acquisition. NINL crude steel production stood at 202,000 tons and saleable steel was 167,000 tons.
Tata Steel Long Products is one of India’s largest merchant sponge iron manufacturers. The company is engaged in the production of sponge iron by direct reduction method of iron ore and power generation from waste heat.
| Company Name | CMP |
|---|---|
| Jindal Steel & Power | 1014.00 |
| Jai Balaji Inds | 973.00 |
| Lloyds Metals&Energy | 702.60 |
| Steel Exchange India | 13.36 |
| KIC Metalik | 51.80 |
| View more.. | |
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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