Asia´s first integrated private sector steel company, the Tata Steel Group is among the top 10 global steel companies with an annual crude steel capacity of nearly 30 mtpa. With operations in 26 countries, commercial presence in over 50 countries and 80,000 employees across five continents, the Tata Steel Group is known for its mammoth operations, innovative approach, and overall conduct. Today, it is the world´s second-most geographically-diversified steel produce. What´s more, its main production facilities are spread across India, UK, the Netherlands, Germany, France, Belgium, Singapore, Thailand, China, Malaysia, Vietnam and Australia.
Further, the company reported a 70 per cent drop in its first quarterly consolidated profit due to write-down of certain investments. The steel producer posted a profit of Rs 337 crore in the April-June quarter of fiscal 2015 as compared to Rs 1,139 crore in the corresponding period last fiscal. The Indian steel major also recently inaugurated a new finishing line at its IJmuiden steelworks in the Netherlands to strengthen the supply of high-value steels to the automotive sector and other markets. This involves an investment of $16 million in Finishing Line 32, which will process up to 400,000 tonne of galvanised corrosion-resistant steel coil per year.
Tata Steel has recently secured statutory clearances for four iron ore mines in Odisha that are running on a temporary basis.
Also, Jamshedpur Continuous Annealing and Processing Company Pvt Ltd, a 51:49 JV between Nippon Steel Corporation and Sumitomo Metal Corporation of Japan and Tata Steel, has inaugurated a new Rs 2,750 crore advanced auto steel facility at Jamshedpur in Jharkhand. At this facility, the country's first Continuous Annealing and Processing Line for manufacturing automotive grade continuous annealed products will produce 600,000 tonne per annum of high-quality cold rolled sheets exclusively for the automotive industry.
The company´s standalone revenue in 2013-14 witnessed a rise of 10.44 per cent to Rs 147,347.3 crore while its net profit increased a whopping 981.98 per cent to Rs 3,595 crore from Rs 332.3 crore in the previous year.