Tata Metaliks, a subsidiary of Tata Steel, on Friday posted a good set of earnings in Q4 on expected lines as profit after tax gets a boost from other incomes and lower effective tax rates.
Sandeep Kumar, MD of Tata Metaliks, spoke to CNBC-TV18, said, “Pig iron business has done well, in line with markets. The raw material prices went up significantly in the last quarter but so did the pig iron prices.”
“Despite the Goods and Services Tax (GST) hiccups in the middle of the year, things began recovering from Q3 onwards, but because of festivities, it didn’t recover to that same extent. We found things coming back in Q4,” he added.
“We are planning to do more than what we have done this year. Growth is an obvious objective for a company of our size and in a growing market. So we would want to grow but the major growth capital projects would not come this year. So, we should not be overly optimistic in terms of growth,” said Kumar.