Tata Steel increased steel production in India by 4% y/y in FY2024/2025

Indian steelmaker Tata Steel increased steel production in India by 4.3% y/y – to 21.7 million tons in FY2024/2025 (ended March 31, 2025). The figure is the highest in the company’s history. This is stated in the company’s financial report.

Consolidated steel production in the period increased by 3.3% y/y – to 30.9 million tons.

According to Tata Steel CEO and Managing Director T. V. Narendran, FY2024/2025 was an important transition period for the company.

“We commissioned India’s largest blast furnace in Kalinganagar, safely decommissioned two blast furnaces in the UK and achieved production close to rated capacity in the Netherlands. Deliveries in India were the best ever at around 21 million tonnes, up 5.2% year-on-year, driven by the smooth start-up of the new blast furnace at Kalinganagar and almost 100% capacity utilization at the remaining facilities,” he said.

Deliveries to the UK in FY2024/2025 amounted to about 2.5 million tons, as the company smoothly switched to shipping products to customers based on imported billets processed at Tata Steel’s plants. Shipments to the Netherlands in the period amounted to approximately 6.25 million tons.

Consolidated shipments in FY2024/2025 amounted to 30.96 million tons (+5.3% y/y).

Tata Steel’s consolidated revenue for the financial year 2024/2025 amounted to about $26 billion, and EBITDA – $3.1 billion.

“Consolidated EBITDA improved by 10% year-on-year due to higher volumes and lower controlled costs despite a drop in sales,” said Kushik Chatterjee, Executive Director and Chief Financial Officer of Tata Steel.

He said that the company is focused on reducing costs to improve competitiveness and has already achieved some results, particularly in the UK.

Chatterjee noted that the electric arc furnace project in the UK is progressing as planned with key contracts with original equipment manufacturers (OEMs), planning permissions, and construction is likely to begin by July 2025. Intensive discussions with the Dutch government on the integrated decarbonization and environmental measures project are ongoing.

As a reminder, Tata Steel will spend approximately $1.18 billion on its Noamundi, Joda and Katamati iron ore mines to increase its total annual production to 55 million tons from the current 40 million tons.