India's tier-1 mills' Q2FY'25 performance a mixed bag. Will Q3 fare better?

Source: BigMint Nov 15, 2024 08:30

Crude steel output up q-o-q, y-o-y for top 3. Sales pressured by imports, subdued exports. Lower steel prices impact most mills' PAT. Higher demand, lower material costs likely in Q3.

Morning Brief: Overall, Indian tier-1 steel mills put up a mixed performance in the second quarter of financial year 2024-25 (Q2FY'25). Crude steel production, sales and EBIDTA differed across mills amid intermittent production cuts, and declined finished and raw material prices. BigMint goes behind the scene: Production sees mixed performance q-o-q, y-o-y Most