During the financial year ended March 31, 2020, Tata Steel India manufactured 18.21 million tonnes of crude steel. In FY20, the company achieved an 8 percent increase in output which helped it retain its role as the largest domestic steel producer for the second consecutive year. This growth was powered by a Tata Steel BSL ramp-up and in April 2019 by Tata Steel Long Products and the acquisition of the Usha Martin steel company.
The Steel Authority of India Ltd (SAIL) appeared in the second place with a production of 16.15 million tonnes in FY20, while JSW Steel slipped to the third position with an annual production of 16.06 million tonnes in FY20. JSW Steel had produced 16.69 million tonnes in FY19 while SAIL produced 16.3 million tonnes annually.
Tata Steel India has also recorded its best-ever annual sales during FY20. Tata Steel India statistics cover Tata Steel standalone, Tata Steel BSL (from 18 May 2018), and Tata Steel Long Product (from 09 April 2019).
In FY19, Tata Steel India manufactured 16.81 million tonnes of crude steel. Compared to FY18 production figures of 12.48 million tonnes, Tata Steel India reported a 45 percent rise.
The company said its output growth is "related to its strategic vision of exploiting the growth potential of the Indian economy by pursuing opportunities for organic and inorganic growth."
Tata Steel has pursued a range of concrete initiatives over the last two years to improve and expand activities over India. Although there are restrictions on the movement of people and industrial activities in the country due to the outbreak of Covid-19, the company said its annual production volume grew 6 percent to 4.74 million tonnes in the last quarter of FY20, although it certainly affected Q4FY20 sales volumes in India.
Tata Steel India experienced the highest-ever annual revenues in the category of Branded Products and Retail in FY20 with an 8 percent improvement over FY19 in terms of product performance. Despite a large rise in revenue in the Oil & Gas and Industrial Pipe segment, the company was successful in sustaining revenues for the Industrial Products & Projects Segment. It also retained its emphasis on the segment of Automobile & Special Products and increased its share of high-end sales in the segment volume from 19.5 percent in FY19 to 25 percent in FY20.
The company has stated that its main priority is the health and safety of its employees in these unprecedented times in a fast-changing scenario.
While Tata Steel concentrates on maintaining cash and making sure appropriate liquidity, it stated that it "continues to monitor the situation closely and has taken several initiatives to ensure that operations are in a state of readiness to rebound as the situation improves and normalcy is restored."