+
Tata Steel: India’s Most Admired Construction Brand
Steel

Tata Steel: India’s Most Admired Construction Brand

Established in India as Asia’s first integrated private steel company in 1907, Tata Steel today is one of the most profitable and lowest cost producers of steel in the world, with captive iron ore mines and collieries located near our manufacturing facilities in Jamshedpur and Kalinganagar. The co...

Established in India as Asia’s first integrated private steel company in 1907, Tata Steel today is one of the most profitable and lowest cost producers of steel in the world, with captive iron ore mines and collieries located near our manufacturing facilities in Jamshedpur and Kalinganagar. The company’s comprehensive portfolio of products and brands caters to multiple industries and segments. The first half of 2020-21 witnessed disruptions caused by the pandemic. However, the domestic steel demand improved in the second half with favourable policies, increased government spending and relaxed movement norms. The company managed to deliver broad-based, market-leading volume growth supported by its agile business model. Tata Steel Group delivered a strong performance in 2020-21. Consolidated steel production was at 28.54 million tonne while total deliveries stood at 28.50 million tonne, marginally below that of the previous year. The company's consolidated revenues increased by 5 per cent to Rs. 1.56 trillion, driven by the strong underlying performance of the company’s India operations and improved performance of their European operations. “Tata Steel over the past few years has invested in building its digital infrastructure, which helped tide over not only the initial phase of the pandemic but continues to provide us with the critical enabler for business analytics and automation. We will continue to invest significantly in digital across all business processes in the company. As a company, we are also focussing significantly on technology, and we have identified six technology leadership areas, along with the creation of enabling infrastructure to tap into the global technology and innovation ecosystem. We will continue to progress on the technology roadmap to create innovative products, invest in new processes and rework our business model in the future,” TV Narendran, CEO and Managing Director, Tata Steel, as quoted in the company’s Integrated Report & Annual Accounts 2020-21. Overall, the company achieved a consolidated EBITDA of Rs. 308.92 billion, driven by multiple factors including an improved market environment, a better product mix, continued cost takeout programmes and benefits derived through operational and financial efficiency. With disciplined capital allocation and tight working capital management, Tata Steel’s full-year free cash flow after CAPEX was Rs. 237.48 billion. In FY 2020-21, consolidated PAT for Tata Steel Group stood at Rs. 81.90 billion, significantly above the Rs. 11.72 billion, reported a year ago. We will continue to progress on the technology roadmap to create innovative products, invest in new processes and rework our business model in the future.

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?