Strong Improvement in Indian Operations
Crude steel production in India increased by 8% quarter-on-quarter and 7% year-on-year, reaching 5.65 million tonnes. Domestic deliveries rose by 20% quarter-on-quarter, demonstrating strong customer relationships and network efficiency.
Solid Financial Performance
Consolidated revenues for the half-year stood at INR 1,11,867 crores with an EBITDA of INR 16,585 crores, reflecting a margin of 15%. The EBITDA margin expanded by 280 basis points in the first half due to cost competitiveness and focus on cash flows.
Cost Transformation Program Success
The global cost transformation program delivered results with around INR 5,450 crores achieved in the first half, translating to about 94% compliance with the H1 plan.
Neelachal Ispat Nigam Limited Performance
Recorded an EBITDA of INR 260 crores for the quarter, up 17% quarter-on-quarter, reflecting an EBITDA margin of 20%.
Tata BlueScope Steel Acquisition
Executed a share purchase agreement to acquire the remaining 50% in Tata BlueScope Steel, expected to be value-accretive and leverage synergies with Tata Steel.