Tata Metaliks Report Higher Sales & Price Realisation in Q1 FY19

Tata Metaliks – India’s one of the major producer of Foundry grade pig iron has released it quarterly results for FY19, ended in Jun’18.

As per reports the Company’s pig iron sales increased by 30% & price realisation by 20% in Q1 FY19 as against Q1 FY18.

Sales of Pig iron stood at 68,393 MT in Q1 FY19 as compared to 52,752 MT in Q1 FY18, increase about 30%.

Similarly, price realization in Pig iron surged by 20% in Q1 FY19 than it was in Q1 FY18.

As per reports “the sales & price realisation have been rise in line with steady market demand and higher cost of coal and coke”.

Tata Metaliks Limited – is a subsidiary of Tata Steel Limited; having its manufacturing plant at Kharagpur in West Bengal. The plant’s has annual hot metal production capacity of 500,000 tonnes, out of which 200,000 tonnes is converted into Ductile Iron (DI) pipes and rest into pig iron.

Overall company’s turnover including pipe & pig iron segment rose by 15% to INR 468 crores in Q1 FY’19 as compared to INR 405 crores for the same quarter of last year.

Tata Metaliks current offers for Foundry grade (high silicon) pig iron assessed at around INR 33,000/MT ex-Kharagpur, Odisha. Tata Metaliks largely supply pig iron to North-east parts of the country.

Performance Highlights:

Figures in INR crores unless specified

Source: Company Reports, SteelMint