Kolkata: Tata Metaliks Limited (“TML”) today announced its financial results for the third quarter of its fiscal year 22. For the quarter ended December 31, 2021, TML reported operating income of Rs 6.9 crore and profit before tax (PBT) of Rs 500 crore.
While revenue was up about 7%, PBT in the current quarter (Q3 FY22) was about 38% lower than the previous quarter (Q2 FY22). Earnings declined this quarter, mainly due to reduced production at one of the blast furnaces due to a planned shutdown and much higher feedstock costs – coke and iron ore costs rose by about 30% and 50% respectively compared to the previous year . second quarter. However, the overall impact was somewhat mitigated by higher finished product prices and a sharp increase in ductile iron pipe sales. The company achieved an EBITDA margin of 10.3% in Q3 2022.
For the nine months ended December 31, 2021, TML had an operating income of Rs 1,938 crore and PBT was Rs 2.66 crore. This is about 54% and 46% higher than the same period last year, respectively.
Mr. Sandeep Kumar, Managing Director of Tata Metaliks, said: “While the company’s DIP business was able to deliver volume as planned, pig iron production was hit by a drop in production at one of the blast furnaces, which was closed for maintenance. down and had some operational problems after launch Profit As a result it suffered and raw material prices skyrocketed Demand for DI pipe continues to be high due to a significant increase in Union water distribution Infrastructure Budget for this year Iron demand is also stable driven by cost raw materials, and prices are expected to rise.
The DI pipeline expansion project, based on Industry 4.0 concepts, with a high degree of automation and digitalization, has entered the fast lane, and the first phase is expected to be operational by the end of the current fiscal year, despite the uncertainty due to the third wave of the pandemic. ”
Tata Metaliks Limited is a subsidiary of Tata Steel which started commercial production in 1994. The company has a plant in Kharagpur, West Bengal, India, where pipes are made from cast iron and ductile iron. The plant annually produces about 550,000 tons of liquid iron, of which more than 200,000 tons are processed into DIP pipes, and the rest into pig iron.
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Post time: Oct-11-2022