Tata Metaliks Q1 Review - Best Ever Quarterly Profit: ICICI Direct

Pig iron is poured into a molding machine at Tata Metaliks Ltd. (Source: Company website)

Tata Metaliks Q1 Review - Best Ever Quarterly Profit: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Tata Metaliks Ltd. reported a healthy operational performance in Q1 FY22 wherein it reported its best ever quarterly profits.

The company reported pig iron sales volume of ~89000 tonnes (up 11% QoQ, 178% YoY) while ductile iron pipes sales volume for the quarter were at ~50000 tonnes (down 34% QoQ but up 85% YoY).

For the quarter, Tata Metaliks achieved highest ever quarterly pig iron sales volume, on the back of jump in exports volume (during Q1 FY22, exports accounted for ~25% of overall pig iron).

Record sales volume of pig iron division coupled with strong pig iron realisations aided the company’s overall Q1 FY22 operational performance.

During the quarter, DI pipe operations were impacted by Covid-19 induced restrictions.

Click on the attachment to read the full report:

ICICI Direct Tata Metaliks Q1FY22 Result Update.pdf

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