Tata Metaliks has declared its financial results for the quarter ending 30 Jun’21. Key highlights:
- The company achieved highest-ever pig iron deliveries of 89k t on the back of a jump in exports.
- DI pipe business took a beating with operations impacted due to government restrictions on workforce deployment. Deliveries in Q1 FY’22 were lower by 34% compared to Q4 FY’21.
- Despite increase in raw materials prices, the company achieved an operating margin of 26% compared to 22% in Q4 FY’21, owing to strong pig iron volumes and much better prices.
- New DI pipe project to be commissioned later this year.
- Revenue from operations stood at INR 603 crore and profit before tax at INR 135 crore.
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