Tata Steel helped Bhushan to swiftly gain its lost production.
Ever since Tata Steel acquired Bhushan Steel through the insolvency process, investors have been eagerly waiting for the turnaround of its operation. The company, now named as Tata Steel BSL, reported its first annual results after the acquisition. The marked improvement in its sales and profitability is worth noting particularly in the light of its impact on Tata Steel’s consolidated performance.
First and foremost, the company has been putting a lot of efforts in ramping up the production and increasing utilisations. A 20 percent year-on-year increase in sales during the quarter ended in March 2019 and a 19 percent YoY growth in annual sales are clear indications of higher production.
This certainly indicates that volumes have increased as a result of higher production. This is good news for Tata Steel and reflects in its overall growth in domestic volumes. During FY19, Tata Steel has reported 34.5 percent growth in its annual steel production to 16.79 million tonne. This is after accounting for the production of close to 4.2 million tonnes of Bhushan Steel. Tata Steel has helped Bhushan to swiftly gain its lost production.
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