Tata Steel Limited is an Indian multinational steel-making company based in Jamshedpur, Jharkhand, and is headquartered in Mumbai, Maharashtra, India. It is a subsidiary of the Tata Group. Tata Group chairman Natarajan Chandrasekaran is confident about the steel industry’s prospects during the post-pandemic era.
As today Tata steel releases its annual report it mentioned that, “The steel industry is also entering a phase which will see better spreads enabled by robust demand and geo-political factors.” The Chairman and group shared a message to its shareholder mentioning that, “As we continue to position ourselves to maximize on the opportunities of the coming decade, we will strive to be a leader in the transition to a greener economy – aiming to create a virtuous cycle of growth and returns for our shareholders.”
For the Financial Year 2020-2021, Tata steel recorded secured earnings before interest, tax, depreciation and EBITDA, with a measure of profitability, and the performance was directed by higher steel prices, better product mix and measures to boost efficiency.
Chairman mentioned in the annual report that, during FY 2020-2021, company achieved its highest ever consolidated EBITDA of Rs 30,892 crore with 71 per cent growth, translating to an EBITDA per tonne of Rs 10,838 and an EBITDA margin of 20 per cent.” The company also recorded its highest-ever free cash flow of Rs 23,748 crore.
The group chairman predicted that, due to pandemic world will be unavoidable and different and it has also accelerated many of these shifts, while emphazing the pace at which we need to act to remain ahead of the curve.