+
Tata Steel reports 2% YoY decrease in exports
PORTS & SHIPPING

Tata Steel reports 2% YoY decrease in exports

Due to a tax imposed on steel exports by the government in May, Tata Steel India saw a two percent decrease in overall deliveries year over year.

Tata Steel reported provisional production and delivery figures for Q1FY23. Domestic production increased by 6% to 4.92 million tonnes (mt), but deliveries to both domestic and international destinations decreased by 2% to 4.06 mt.

The company blamed the decline on exports slowing down after a 15% export duty was imposed.

The export levy, which took effect on May 22 and will affect 95% of the country's finished steel export basket, was anticipated by the market to result in lower deliveries by steel companies.

On a quarter-over-quarter (QoQ) basis, Tata Steel's deliveries were down 20.70%. The business claimed that domestic dispatches were up 5% YoY thanks to a powerful marketing network and an adaptable business model.

According to Tata Steel, deliveries to the automotive and special products segment increased by 22% YoY as a result of a general recovery across all sub-segments. Deliveries for the retail segment and branded goods were largely comparable. On the strength of an increase in sales of value-added products to important segments like engineering, dispatches to the industrial products & projects segment increased by 8% YoY.

Due to a tax imposed on steel exports by the government in May, Tata Steel India saw a two percent decrease in overall deliveries year over year. Tata Steel reported provisional production and delivery figures for Q1FY23. Domestic production increased by 6% to 4.92 million tonnes (mt), but deliveries to both domestic and international destinations decreased by 2% to 4.06 mt. The company blamed the decline on exports slowing down after a 15% export duty was imposed. The export levy, which took effect on May 22 and will affect 95% of the country's finished steel export basket, was anticipated by the market to result in lower deliveries by steel companies. On a quarter-over-quarter (QoQ) basis, Tata Steel's deliveries were down 20.70%. The business claimed that domestic dispatches were up 5% YoY thanks to a powerful marketing network and an adaptable business model. According to Tata Steel, deliveries to the automotive and special products segment increased by 22% YoY as a result of a general recovery across all sub-segments. Deliveries for the retail segment and branded goods were largely comparable. On the strength of an increase in sales of value-added products to important segments like engineering, dispatches to the industrial products & projects segment increased by 8% YoY.

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?