Shares of Tata Steel, FSN E-Commerce Ventures (Nykaa) and Avenue Supermarts will be in focus on Thursday morning after the three companies came out with their March quarter business updates. While Tata Steel saw a 3 per cent rise in consolidated steel production, Nykaa expects its percentage revenue growth rates in the Fashion business to come through in the late teens. DMart, meanwhile, in a short release said its standalone revenue from operations for the fourth quarter stood at Rs 10,337.12 crore.
Tata Steel Q4 business updates
Steelmaker Tata Steel saw a 3 per cent rise in consolidated steel production at 7.77 million tonne (mt) in March quarter. The company’s total steel output stood at 7.55 (mt) in the year-ago period, Tata Steel said in a regulatory filing.
Tata Steel India achieved crude steel production of 5.15 mt for the quarter, up 3 per cent sequentially. Tata Steel India’s crude production for FY23 was the highest ever at 19.9 mt, with a growth of 4 per cent YoY, led by debottlenecking across sites and ramp up of Neelachal Ispat Nigam.
Tata Steel India’s deliveries grew 9 per cent sequentially to 5.15 mt and were the highest ever quarterly deliveries.
Neelachal Ispat Nigam (NINL) began operations within three months of completion of acquisition and has steadily ramped up during the last two quarters. Presently, the run rate of crude steel plus pig iron is around 1 mt on annualised basis. Tata Tiscon rebars are being made from NINL billets, Tata Steel said.
In Q4, Tata Steel Europe’s steel deliveries were up 7 per cent sequentially ar 2.13 mt, thanks to improving demand environment. However, product mix has been affected due to the ongoing upgradation at CM21 (Cold Rolling mill). As planned, the overall process of relining of BF6 at Tata Steel Netherlands has commenced in early April, the company said.
For FY23, Tata Steel Europe steel deliveries stood at 8.1 mt.
Nykaa Q4 business update
Nykaa said Tier 1 consumers have demonstrated sustained consumption in Q4 against a backdrop of subdued industry growth. This has led to stronger revenue growth on the Nykaa platforms, it said
“During the quarter, our Beauty & Personal Care (BPC) categories have seen sustained strong demand, partly aided by the тАШPink LoveтАЩ sale introduced during the quarter. BPC business has seen higher year-on-year growth rates in Q4 FY23 as compared to the year-on-year growth rates seen in Q3 FY23. The operating parameters for the BPC business viz. average order values and conversion rates have been robust which has aided growth in revenue,” it said.
For FY23, Nykaa expects its percentage revenue growth rates to be in line with the ones seen in the nine months of FY23, early-thirties. Consumer pullback in discretionary spends has had some impact on fashion business, leading to subdued growth in NSV this quarter, the company said.
“For Q4 FY23, we expect our percentage revenue growth rates in the Fashion business to come through in the late teens. This comes on the back of our focussing on business efficiency and unit economics. Our average order values and conversion rates have improved steadily. For FY23 at the consolidated level, we expect to sustain our percentage growth rate in line with 9MFY23,” it said.
DMart Q4 business updates
DMart, meanwhile, in a short release said its standalone revenue from operations for the quarter ended March 31, 2023 stood at Rs 10,337.12 crore compared with 8,606.09 crore in the year-ago quarter, Rs 7,303.13 crore in the March 2021 quarter and Rs 6,193.53 crore in the March 2020 quarter.
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