Tata Steel plans 160,000 mn capex in FY24
Steel

Tata Steel plans 160,000 mn capex in FY24

According to its top management, global industrial giant Tata Steel anticipates spending 160,000 million on capital projects (capex) for both domestic and international operations in the current fiscal year.
According to the company's CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee, out of the anticipated amount, Tata Steel has set aside 100,000 million for standalone operations and 20,000 million for its Indian subsidiaries.
According to the executives' statement in the company's annual report for 2022–23, "The projected capital expenditure (capex) for FY2023–24 is set at Rs 160,000 million on a consolidated basis and is intended to be financed through internal accruals over the course of the full year."
According to them, 100,000 million of this will go towards Tata Steel Standalone operations, of which the Kalinganagar project will make up roughly 70%.

According to its top management, global industrial giant Tata Steel anticipates spending 160,000 million on capital projects (capex) for both domestic and international operations in the current fiscal year.According to the company's CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee, out of the anticipated amount, Tata Steel has set aside 100,000 million for standalone operations and 20,000 million for its Indian subsidiaries.According to the executives' statement in the company's annual report for 2022–23, The projected capital expenditure (capex) for FY2023–24 is set at Rs 160,000 million on a consolidated basis and is intended to be financed through internal accruals over the course of the full year.According to them, 100,000 million of this will go towards Tata Steel Standalone operations, of which the Kalinganagar project will make up roughly 70%.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement