Q4 2024 Tata Steel Ltd Earnings Call Transcript
Key Points
- Tata Steel Ltd (BOM:500470) achieved the highest ever crude steel production of 20.8 million tons and deliveries of around 19.9 million tons.
- Domestic deliveries were up 9% year-on-year, leveraging persistent demand in the domestic market.
- Automotive volumes grew by 8% year-on-year, driven by higher deliveries of hot-rolled and cold-rolled coils to automotive OEMs.
- The well-established retail brand, Tata Tiscon, witnessed a 15% year-on-year growth and crossed 2 million tons on an annual basis.
- The company is committed to sustainability, with initiatives like zero effluent discharge at two sites and the use of biofuel blends for shipping.
- Global steel prices have moderated due to elevated exports and geopolitical tensions, impacting overall profitability.
- Tata Steel Netherlands faced an EBITDA loss of GBP 368 million in FY '24 due to operational issues and delays in ramping up the cold rolling mill.
- Tata Steel U.K. reported an EBITDA loss of GBP 364 million in FY '24, with significant restructuring costs expected in the near term.
- The company’s net debt increased by INR 9,700 crores to INR 77,550 crores, despite strong operating cash flows.
- The closure of the Sukinda mine resulted in a one-time cost of INR 500 crores, impacting financial performance.
Ladies and gentlemen, good day, and welcome to the Tata Steel Analyst Call. Please note that this meeting is being recorded. All the attendees audio and video has been disabled from the back end and will be enabled subsequently. I would now like to hand the conference over to Mr. Samita Shah. Thank you, and over to you, ma'am.
Thank you, Kinshuk. Good afternoon, everybody, and good morning and good evening to those of you joining us from different time zones. Welcome to this call to discuss our results for the fourth quarter and the financial year FY '24.
We are joined by Mr. Narendran, our CEO and Managing Director; and Mr. Chatterjee, our Executive Director and CFO. I hope you all have had a chance to go through our results, which were published yesterday and the presentation, which is up on our website. The entire discussion today will be covered by the safe harbor clause, which is on Page 2 of the presentation.
I will now request Naren to
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