Tata Steel pursued a strategy of growth and sustainability in spite of challenging economic conditions. The document discusses Tata Steel's performance across different geographies during the financial year 2011-2012. It provides insights into Tata Steel's capital investment strategy, focus on sustainability, views on the demand scenario in India, and strategies to defend its market position in India.
This document provides an overview of Tata Steel Ltd., an Indian multinational steel company. It discusses the company's introduction, core values, mission, and vision. It then analyzes the steel industry and Tata Steel's microenvironment through PESTEL and SWOT frameworks. Key points include Tata Steel being the 10th largest steel manufacturer globally, producing 34 million tonnes annually, and having operations across 25 countries. The analysis identifies factors like political/economic instability, technological advancements, and environmental/legal regulations as influencing the company. Maintaining sustainable and innovative products while optimizing supply chain and costs are identified as strategic issues.
Tata Steel is one of the largest steel producers in the world with a presence in over 50 countries. It has a crude steel production capacity of 30 million tonnes annually. The company has expanded significantly through acquisitions in recent years including Corus Group, which expanded its operations in Europe. It is focusing on increasing production capacity in India and securing raw materials globally through investments and joint ventures. The global economic slowdown has impacted steel demand and Tata Steel's financial performance. It is taking steps like cost reductions and production rationalization to address challenges in the current market environment.
Here are the key points that the Tata Steel Group management highlighted regarding their approach over the next 12-18 months given the macroeconomic climate:
- The macroeconomic environment in India and Europe is expected to remain challenging in the near term. While stability is hoped for in India, Europe is expected to stop declining and start showing signs of growth.
- Overcapacity in China and how it is addressed over the next 2 years will be a key issue for the global steel industry.
- In India, Tata Steel will continue ramping up capacity incrementally over the next 2 financial years to reach optimal capacity utilization levels. Focus will remain on strengthening the domestic franchise.
- In Europe, priority will be on improving competit
1. Monnet Ispat & Energy Limited is an Indian steel company with sectors including steel, sponge iron, and pig iron. It has experienced consistent growth through its diversified business model.
2. The company has expanded operations through acquisitions such as an Indonesian coal company and increasing coal and power generation capacities.
3. Monnet Ispat & Energy Limited engages in corporate social responsibility initiatives in areas like healthcare, education, livelihood generation, and supporting Indian boxing.
The document is a study paper that analyzes the financial performance of Tata Steel and Jindal Steel and Power using ratios over a 5-year period from 2013-2014 to 2016-2017. It includes an introduction to the Indian steel industry, objectives of the study, company profiles of Tata Steel and Jindal Steel, the theoretical framework and research methodology used. It also presents data analysis, interpretation of the comparative financial performance, and conclusions and recommendations.
The document is a student assignment on Tata Steel Ltd's export policies and challenges. It includes an introduction to Tata Steel and the Indian steel industry. The assignment covers various topics related to Tata Steel's exports such as export finance sources, pricing policies, export promotion practices, the impact of COVID-19, and government incentives for steel exports. It also provides an index and conclusion. Key points include Tata Steel exporting steel products to over 100 countries, factors that influence its export pricing like production costs and competition, and the impact of high input costs and volatile demand due to COVID-19 on its export management.
This document provides background information on Tata Steel, including:
- Tata Steel is India's largest private sector steel company with an annual production capacity of 31 million tons.
- Its vision is to be a global benchmark for value creation and corporate citizenship through its people, products/services, innovative approach, and ethical conduct.
- The company's key products include finished steel, ferroalloys, tubes, bearings, and more which it distributes via direct supply, stockyards, agents, and processing agents.
- Tata Steel focuses on customer service, innovation, operational excellence, responsible business practices, and developing its people to achieve sustainable growth.
This document provides background information on Tata Steel, including its vision, mission, products, pricing strategies, distribution channels, and promotional strategies. Tata Steel is India's largest private sector steel company with an annual production capacity of 31 million tons. It aims to be a global benchmark for value creation and corporate citizenship through its people, products and services, innovative approach, and ethical conduct. The company produces a variety of finished and semi-finished steel products and uses various pricing, placement, and promotional strategies to market these products.
This document provides an overview of Tata Steel Ltd., an Indian multinational steel company. It discusses the company's introduction, core values, mission, and vision. It then analyzes the steel industry and Tata Steel's microenvironment through PESTEL and SWOT frameworks. Key points include Tata Steel being the 10th largest steel manufacturer globally, producing 34 million tonnes annually, and having operations across 25 countries. The analysis identifies factors like political/economic instability, technological advancements, and environmental/legal regulations as influencing the company. Maintaining sustainable and innovative products while optimizing supply chain and costs are identified as strategic issues.
Tata Steel is one of the largest steel producers in the world with a presence in over 50 countries. It has a crude steel production capacity of 30 million tonnes annually. The company has expanded significantly through acquisitions in recent years including Corus Group, which expanded its operations in Europe. It is focusing on increasing production capacity in India and securing raw materials globally through investments and joint ventures. The global economic slowdown has impacted steel demand and Tata Steel's financial performance. It is taking steps like cost reductions and production rationalization to address challenges in the current market environment.
Here are the key points that the Tata Steel Group management highlighted regarding their approach over the next 12-18 months given the macroeconomic climate:
- The macroeconomic environment in India and Europe is expected to remain challenging in the near term. While stability is hoped for in India, Europe is expected to stop declining and start showing signs of growth.
- Overcapacity in China and how it is addressed over the next 2 years will be a key issue for the global steel industry.
- In India, Tata Steel will continue ramping up capacity incrementally over the next 2 financial years to reach optimal capacity utilization levels. Focus will remain on strengthening the domestic franchise.
- In Europe, priority will be on improving competit
1. Monnet Ispat & Energy Limited is an Indian steel company with sectors including steel, sponge iron, and pig iron. It has experienced consistent growth through its diversified business model.
2. The company has expanded operations through acquisitions such as an Indonesian coal company and increasing coal and power generation capacities.
3. Monnet Ispat & Energy Limited engages in corporate social responsibility initiatives in areas like healthcare, education, livelihood generation, and supporting Indian boxing.
The document is a study paper that analyzes the financial performance of Tata Steel and Jindal Steel and Power using ratios over a 5-year period from 2013-2014 to 2016-2017. It includes an introduction to the Indian steel industry, objectives of the study, company profiles of Tata Steel and Jindal Steel, the theoretical framework and research methodology used. It also presents data analysis, interpretation of the comparative financial performance, and conclusions and recommendations.
The document is a student assignment on Tata Steel Ltd's export policies and challenges. It includes an introduction to Tata Steel and the Indian steel industry. The assignment covers various topics related to Tata Steel's exports such as export finance sources, pricing policies, export promotion practices, the impact of COVID-19, and government incentives for steel exports. It also provides an index and conclusion. Key points include Tata Steel exporting steel products to over 100 countries, factors that influence its export pricing like production costs and competition, and the impact of high input costs and volatile demand due to COVID-19 on its export management.
This document provides background information on Tata Steel, including:
- Tata Steel is India's largest private sector steel company with an annual production capacity of 31 million tons.
- Its vision is to be a global benchmark for value creation and corporate citizenship through its people, products/services, innovative approach, and ethical conduct.
- The company's key products include finished steel, ferroalloys, tubes, bearings, and more which it distributes via direct supply, stockyards, agents, and processing agents.
- Tata Steel focuses on customer service, innovation, operational excellence, responsible business practices, and developing its people to achieve sustainable growth.
This document provides background information on Tata Steel, including its vision, mission, products, pricing strategies, distribution channels, and promotional strategies. Tata Steel is India's largest private sector steel company with an annual production capacity of 31 million tons. It aims to be a global benchmark for value creation and corporate citizenship through its people, products and services, innovative approach, and ethical conduct. The company produces a variety of finished and semi-finished steel products and uses various pricing, placement, and promotional strategies to market these products.
This document provides a summary of a student's summer internship project report comparing the financial statements of Steel Authority of India Limited (SAIL) to other steel companies in India for the 2009-2010 financial year. The report includes an introduction outlining the objectives, importance and limitations of the study. It also describes the research methodology and data collection sources. The report is divided into chapters covering the company profiles of SAIL, Tata Steel and JSW Steel, the theoretical background, data analysis and interpretation including production performance, financial performance, ratio analysis and cost analysis. Financial statements and charts are included in the annexures.
Conducting an Organizational Assessment 4
Conducting an Organizational Assessment
Name: Michael Carlson
Instructor: Godwin Igein
Course: MGT416
Institution: Argosy University Online
Date: Nov 25, 2015
Tata Steel, the flagship company of Tata group, has crude steel production capacity of 30 million tonnes per annum. It was founded by Jamsetji Nusserwanji Tata. It is the world’s second-most geographically diversified steel producer (Tata Steel, n.d.). They have their presence in almost 50 countries with an employee base of 80,000 people. As on March 31, 2015, the group had an overall turnover of Rs 139,504 crores (India Infoline, 2015).
They established their first steel plant in 1907 in Jamshedpur, India. From there on they have moved on to setting up new steel projects in Jharkhand, Odisha and Chhattisgarh.
Raw material integration is the strategy that sets them apart from their competitors. The prices of the raw materials used by them are highly volatile. The basic raw materials used by them are iron ore and cooking coal. They have their own mines and collieries which satisfy their raw material requirement. For additional requirement, they enter into future contracts with suppliers so as to ensure a continuous flow of raw material and have a hedge against price volatility. In fact, the company is exploring mining opportunities overseas also. The minerals that are grabbing their eyeballs overseas are Limestone and Ferro chrome. They want to have full control on raw material resources so that there is no interruption with its supply. This strategy also ensures that they are able to provide very competitive prices for their products.
The company has also been a continuous investor in various research and development projects to improve its quality and provide better rates to the customers. Tata Steel’s R&D centres are now conducting research programmes to improve the life cycle and sustainability of its products. These include projects to reduce energy consumption, CO2 and other emissions (Tata Steel, n.d.).
Tata Steel had also launched a program, Kar Vijay Har Shikhar. This program involves the use of Total Quality Management and various statistical tools to improve their process.
The company’s strategy for global markets is to become global benchmark in value creation and corporate citizenship in steel industry (Tata Steel, n.d.). They have their main focus on innovating new and distinct products for the international markets that satisfy the needs of their customers. They have been continuously investing in terms of time and money to improve their manufacturing facilities and provide best quality products at competitive prices.
The company has also been investing in a number of mergers and acquisitions to improve their global presence. They have acquired NatSteel and Millenium Steel thereby increasing their pr.
JSW Group is one of the fastest growing business conglomerates with a strong presence in the core economic sector. This enterprise has grown from a steel rolling mill in 1982 to a multi business conglomerate.
http://www.unitedworld.edu.in/
TATA Steel Ltd. is analyzed using various frameworks like PESTLE analysis, Porter's Five Forces analysis, SWOT analysis and BCG matrix analysis. Some key highlights from the analysis:
- TATA Steel has integrated operations in India but over-reliance on European markets which can impact revenues. It has a wide product portfolio but trails competitors technologically.
- Political, economic and legal factors influence TATA Steel's mining operations and compliance costs. Supplier power is high due to reliance on raw materials. Competition and threat of substitutes exist.
- Strengths include its brand, global presence and resource base. Weaknesses include operational inefficiencies. Opportunities lie in new technologies and
This document outlines a business plan for a new steel door and window manufacturing business by Tata Steel. It discusses the vision, mission, market analysis, and strategies for the business. The market analysis identifies key influencers like architects, carpenters, and dealers. It also segments customers into those seeking longevity, aesthetics, or who are easily influenced. Strategies proposed include digital marketing, seminars for influencers, dealer programs, and targeting the government and private construction industry. A cost-benefit analysis is also included.
Final report in working capital management of tata steel ltd.Shazia Khan
This document summarizes the key points about the steel industry in India. It provides a brief history of the growth of the iron and steel industry globally and in India. It discusses the current state of the industry in India, with India now being the 4th largest producer of crude steel globally. It also outlines the future growth prospects of the industry in India, with projections that steel consumption will reach 250 million tons by 2025. Finally, it discusses the important government policies that have promoted the liberalization and growth of the Indian steel industry since the 1990s.
A project report on multi skill development at shanti iron and steels ltd a...Babasab Patil
This document discusses a project report on multi-skill development at Shanti Iron and Steels Ltd in Belgaum. The objectives of the study were to identify the different skills required for each job, common skills among staff, and training needs to develop multi-skills. Data was collected through questionnaires, interviews, books, and the internet. The advantages of multi-skilling included identifying training needs, areas for job rotation and on-the-job training. The report also provides background on Shanti Iron and Steels Ltd and the iron and steel industry in India.
This document provides an overview of the Indian steel industry. It discusses the industry's size, major players, growth over time, and acquisitions that have occurred. Some key points:
- India is now one of the largest steel producers in the world, with both public and private sector companies involved. Major players include SAIL, Tata Steel, Essar Steel, and JSW Steel.
- The industry has grown significantly since the 1990s with increased investment and production capacity. India's crude steel production grows over 10% annually.
- Notable acquisitions include ArcelorMittal's purchase of Arcelor and Tata Steel's acquisition of Corus, demonstrating the industry's dynamic nature.
This document provides an overview of Sesa Goa Limited's 2011 sustainability report. Some key points:
- Sesa Goa is India's largest private iron ore producer and exporter, and aims to become one of the top four global producers.
- The report details the company's approach and performance on economic, social and environmental sustainability. It discusses topics like safety, community development, environmental stewardship and governance.
- In 2010-11, Sesa Goa's revenue increased 58% to $9.14 billion despite challenges like export bans and monsoons. Production was 18.8 million tons of iron ore.
- The report provides statements from the managing director on sustainability priorities like protecting communities
Training Report on Recruitment & Selection {National Steel Authority of India}FellowBuddy.com
FellowBuddy.com is an innovative platform that brings students together to share notes, exam papers, study guides, project reports and presentation for upcoming exams.
We connect Students who have an understanding of course material with Students who need help.
Benefits:-
# Students can catch up on notes they missed because of an absence.
# Underachievers can find peer developed notes that break down lecture and study material in a way that they can understand
# Students can earn better grades, save time and study effectively
Our Vision & Mission – Simplifying Students Life
Our Belief – “The great breakthrough in your life comes when you realize it, that you can learn anything you need to learn; to accomplish any goal that you have set for yourself. This means there are no limits on what you can be, have or do.”
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The Indian steel industry has experienced steady growth since the country's independence. It is now one of the top ten steel producers globally, though its share of global production remains low at around 3%. The industry has largely been dominated by a few major public and private sector companies. While domestic demand for steel has grown significantly, fueled by India's growing economy, domestic production has still not been sufficient to meet this demand. Moving forward, continued investment in infrastructure and developing new technologies are seen as important to further advancing the Indian steel industry.
A study on working capital management at tataPINKEY GUPTA
This document summarizes a study on working capital management at Tata Steel Limited from 2011-2015. It provides background on Tata Steel and states the objectives of the study which are to understand the significance of working capital, analyze components and efficiency, and compare financial ratios to competitors. The study found that Tata Steel's net working capital fluctuated over the period but generally improved. It provides analysis of key financial ratios for Tata Steel and competitors. The study concludes that Tata Steel faced challenges from regulatory issues but remained committed to investments. Suggestions are made to improve working capital management practices.
- Tata Steel reported its results for the second quarter of Fiscal Year 2023. The steel industry was adversely impacted by declining spreads and high energy prices, especially in Europe.
- In India, steel demand was stable though export ban affected supply equilibrium. Inflationary pressures impacted demand in the EU.
- Tata Steel is pursuing sustainability through various initiatives to become carbon neutral by 2045 while prioritizing safety and community development. It is also focusing on growth in India and transitioning to green steel production in Europe.
The document is a summer training report on the financial analysis of Tata Steel submitted by Rahul Kumar under the guidance of Dr. Shailendra Kumar. It includes an acknowledgement, contents page, introduction, objectives, overview of Tata Steel's history, operations and SWOT analysis. It also includes analysis of Tata Steel's balance sheets for 2015 and 2014, including comparisons of key line items and percentages, as well as trend analysis of balance sheets from 2015 to 2011.
The document provides an overview of the global steel industry and Steel Authority of India Limited (SAIL). It discusses that steel production has grown rapidly worldwide over the past century and India's steel industry has also expanded significantly since the 1990s. SAIL is India's largest steel producer with a turnover of around Rs. 16,500 crores. It aims to increase its global presence through exports, joint ventures, and alliances. SAIL is focusing on cost reduction, improving quality and environmental protection to remain competitive.
The document discusses the Indian steel industry. It provides background on the industry, noting that it has a history of over a century. It discusses major players like SAIL and Tata Steel. It analyzes the industry using Porter's Five Forces model and provides a SWOT analysis. It discusses the size and growth of the industry, including production levels and major acquisitions over the years like ArcelorMittal. It also outlines the various public and private sector players in the Indian steel industry and trends in commodity prices.
The document provides an overview of the Indian steel industry. It discusses the industry's vision, mission, major players, growth over the years through acquisitions and investments, impact of macroeconomic variables like GDP, inflation, and dumping. Key points include that India is the 5th largest steel producer globally and is expected to become 2nd largest by 2015-16. Economic growth and infrastructure development is driving steel demand growth. However, high inflation is negatively impacting consumer industries and slowing steel demand.
Tata Steel Group is a Fortune 500 company and one of the top ten global steel producers with over 28 million tons of annual steel capacity. It employs over 81,000 people globally and generated $1.3 billion in revenue in 2011-2012. Despite economic challenges, Tata Steel focused on keeping employees motivated through initiatives like talent development, leadership training, and cross-functional movement of executives worldwide.
1) Tata Steel is an Indian multinational steel company and subsidiary of Tata Group, with manufacturing operations in 26 countries and over 80,000 employees.
2) Its mission is to strengthen India's industrial base through effective utilization of staff and materials using high technology and productivity.
3) It produces a variety of steel products for industries like construction, automotive, appliances, and sells mainly in the Indian market as well as other Asian markets.
Peekay Steel Rolling Mill Pvt. Ltd. is conducting a study on customer satisfaction. The steel industry in India has grown significantly due to factors such as low labor costs and availability of raw materials. Peekay Steel Castings is a leading steel manufacturer in Kerala, India established in 1991 with an annual production capacity of 5000 MT that has been expanded to 7200 MT. The company produces high quality steel castings for industries such as petrochemical, power, earthmoving, and transportation.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
This document provides a summary of a student's summer internship project report comparing the financial statements of Steel Authority of India Limited (SAIL) to other steel companies in India for the 2009-2010 financial year. The report includes an introduction outlining the objectives, importance and limitations of the study. It also describes the research methodology and data collection sources. The report is divided into chapters covering the company profiles of SAIL, Tata Steel and JSW Steel, the theoretical background, data analysis and interpretation including production performance, financial performance, ratio analysis and cost analysis. Financial statements and charts are included in the annexures.
Conducting an Organizational Assessment 4
Conducting an Organizational Assessment
Name: Michael Carlson
Instructor: Godwin Igein
Course: MGT416
Institution: Argosy University Online
Date: Nov 25, 2015
Tata Steel, the flagship company of Tata group, has crude steel production capacity of 30 million tonnes per annum. It was founded by Jamsetji Nusserwanji Tata. It is the world’s second-most geographically diversified steel producer (Tata Steel, n.d.). They have their presence in almost 50 countries with an employee base of 80,000 people. As on March 31, 2015, the group had an overall turnover of Rs 139,504 crores (India Infoline, 2015).
They established their first steel plant in 1907 in Jamshedpur, India. From there on they have moved on to setting up new steel projects in Jharkhand, Odisha and Chhattisgarh.
Raw material integration is the strategy that sets them apart from their competitors. The prices of the raw materials used by them are highly volatile. The basic raw materials used by them are iron ore and cooking coal. They have their own mines and collieries which satisfy their raw material requirement. For additional requirement, they enter into future contracts with suppliers so as to ensure a continuous flow of raw material and have a hedge against price volatility. In fact, the company is exploring mining opportunities overseas also. The minerals that are grabbing their eyeballs overseas are Limestone and Ferro chrome. They want to have full control on raw material resources so that there is no interruption with its supply. This strategy also ensures that they are able to provide very competitive prices for their products.
The company has also been a continuous investor in various research and development projects to improve its quality and provide better rates to the customers. Tata Steel’s R&D centres are now conducting research programmes to improve the life cycle and sustainability of its products. These include projects to reduce energy consumption, CO2 and other emissions (Tata Steel, n.d.).
Tata Steel had also launched a program, Kar Vijay Har Shikhar. This program involves the use of Total Quality Management and various statistical tools to improve their process.
The company’s strategy for global markets is to become global benchmark in value creation and corporate citizenship in steel industry (Tata Steel, n.d.). They have their main focus on innovating new and distinct products for the international markets that satisfy the needs of their customers. They have been continuously investing in terms of time and money to improve their manufacturing facilities and provide best quality products at competitive prices.
The company has also been investing in a number of mergers and acquisitions to improve their global presence. They have acquired NatSteel and Millenium Steel thereby increasing their pr.
JSW Group is one of the fastest growing business conglomerates with a strong presence in the core economic sector. This enterprise has grown from a steel rolling mill in 1982 to a multi business conglomerate.
http://www.unitedworld.edu.in/
TATA Steel Ltd. is analyzed using various frameworks like PESTLE analysis, Porter's Five Forces analysis, SWOT analysis and BCG matrix analysis. Some key highlights from the analysis:
- TATA Steel has integrated operations in India but over-reliance on European markets which can impact revenues. It has a wide product portfolio but trails competitors technologically.
- Political, economic and legal factors influence TATA Steel's mining operations and compliance costs. Supplier power is high due to reliance on raw materials. Competition and threat of substitutes exist.
- Strengths include its brand, global presence and resource base. Weaknesses include operational inefficiencies. Opportunities lie in new technologies and
This document outlines a business plan for a new steel door and window manufacturing business by Tata Steel. It discusses the vision, mission, market analysis, and strategies for the business. The market analysis identifies key influencers like architects, carpenters, and dealers. It also segments customers into those seeking longevity, aesthetics, or who are easily influenced. Strategies proposed include digital marketing, seminars for influencers, dealer programs, and targeting the government and private construction industry. A cost-benefit analysis is also included.
Final report in working capital management of tata steel ltd.Shazia Khan
This document summarizes the key points about the steel industry in India. It provides a brief history of the growth of the iron and steel industry globally and in India. It discusses the current state of the industry in India, with India now being the 4th largest producer of crude steel globally. It also outlines the future growth prospects of the industry in India, with projections that steel consumption will reach 250 million tons by 2025. Finally, it discusses the important government policies that have promoted the liberalization and growth of the Indian steel industry since the 1990s.
A project report on multi skill development at shanti iron and steels ltd a...Babasab Patil
This document discusses a project report on multi-skill development at Shanti Iron and Steels Ltd in Belgaum. The objectives of the study were to identify the different skills required for each job, common skills among staff, and training needs to develop multi-skills. Data was collected through questionnaires, interviews, books, and the internet. The advantages of multi-skilling included identifying training needs, areas for job rotation and on-the-job training. The report also provides background on Shanti Iron and Steels Ltd and the iron and steel industry in India.
This document provides an overview of the Indian steel industry. It discusses the industry's size, major players, growth over time, and acquisitions that have occurred. Some key points:
- India is now one of the largest steel producers in the world, with both public and private sector companies involved. Major players include SAIL, Tata Steel, Essar Steel, and JSW Steel.
- The industry has grown significantly since the 1990s with increased investment and production capacity. India's crude steel production grows over 10% annually.
- Notable acquisitions include ArcelorMittal's purchase of Arcelor and Tata Steel's acquisition of Corus, demonstrating the industry's dynamic nature.
This document provides an overview of Sesa Goa Limited's 2011 sustainability report. Some key points:
- Sesa Goa is India's largest private iron ore producer and exporter, and aims to become one of the top four global producers.
- The report details the company's approach and performance on economic, social and environmental sustainability. It discusses topics like safety, community development, environmental stewardship and governance.
- In 2010-11, Sesa Goa's revenue increased 58% to $9.14 billion despite challenges like export bans and monsoons. Production was 18.8 million tons of iron ore.
- The report provides statements from the managing director on sustainability priorities like protecting communities
Training Report on Recruitment & Selection {National Steel Authority of India}FellowBuddy.com
FellowBuddy.com is an innovative platform that brings students together to share notes, exam papers, study guides, project reports and presentation for upcoming exams.
We connect Students who have an understanding of course material with Students who need help.
Benefits:-
# Students can catch up on notes they missed because of an absence.
# Underachievers can find peer developed notes that break down lecture and study material in a way that they can understand
# Students can earn better grades, save time and study effectively
Our Vision & Mission – Simplifying Students Life
Our Belief – “The great breakthrough in your life comes when you realize it, that you can learn anything you need to learn; to accomplish any goal that you have set for yourself. This means there are no limits on what you can be, have or do.”
Like Us - https://www.facebook.com/FellowBuddycom
The Indian steel industry has experienced steady growth since the country's independence. It is now one of the top ten steel producers globally, though its share of global production remains low at around 3%. The industry has largely been dominated by a few major public and private sector companies. While domestic demand for steel has grown significantly, fueled by India's growing economy, domestic production has still not been sufficient to meet this demand. Moving forward, continued investment in infrastructure and developing new technologies are seen as important to further advancing the Indian steel industry.
A study on working capital management at tataPINKEY GUPTA
This document summarizes a study on working capital management at Tata Steel Limited from 2011-2015. It provides background on Tata Steel and states the objectives of the study which are to understand the significance of working capital, analyze components and efficiency, and compare financial ratios to competitors. The study found that Tata Steel's net working capital fluctuated over the period but generally improved. It provides analysis of key financial ratios for Tata Steel and competitors. The study concludes that Tata Steel faced challenges from regulatory issues but remained committed to investments. Suggestions are made to improve working capital management practices.
- Tata Steel reported its results for the second quarter of Fiscal Year 2023. The steel industry was adversely impacted by declining spreads and high energy prices, especially in Europe.
- In India, steel demand was stable though export ban affected supply equilibrium. Inflationary pressures impacted demand in the EU.
- Tata Steel is pursuing sustainability through various initiatives to become carbon neutral by 2045 while prioritizing safety and community development. It is also focusing on growth in India and transitioning to green steel production in Europe.
The document is a summer training report on the financial analysis of Tata Steel submitted by Rahul Kumar under the guidance of Dr. Shailendra Kumar. It includes an acknowledgement, contents page, introduction, objectives, overview of Tata Steel's history, operations and SWOT analysis. It also includes analysis of Tata Steel's balance sheets for 2015 and 2014, including comparisons of key line items and percentages, as well as trend analysis of balance sheets from 2015 to 2011.
The document provides an overview of the global steel industry and Steel Authority of India Limited (SAIL). It discusses that steel production has grown rapidly worldwide over the past century and India's steel industry has also expanded significantly since the 1990s. SAIL is India's largest steel producer with a turnover of around Rs. 16,500 crores. It aims to increase its global presence through exports, joint ventures, and alliances. SAIL is focusing on cost reduction, improving quality and environmental protection to remain competitive.
The document discusses the Indian steel industry. It provides background on the industry, noting that it has a history of over a century. It discusses major players like SAIL and Tata Steel. It analyzes the industry using Porter's Five Forces model and provides a SWOT analysis. It discusses the size and growth of the industry, including production levels and major acquisitions over the years like ArcelorMittal. It also outlines the various public and private sector players in the Indian steel industry and trends in commodity prices.
The document provides an overview of the Indian steel industry. It discusses the industry's vision, mission, major players, growth over the years through acquisitions and investments, impact of macroeconomic variables like GDP, inflation, and dumping. Key points include that India is the 5th largest steel producer globally and is expected to become 2nd largest by 2015-16. Economic growth and infrastructure development is driving steel demand growth. However, high inflation is negatively impacting consumer industries and slowing steel demand.
Tata Steel Group is a Fortune 500 company and one of the top ten global steel producers with over 28 million tons of annual steel capacity. It employs over 81,000 people globally and generated $1.3 billion in revenue in 2011-2012. Despite economic challenges, Tata Steel focused on keeping employees motivated through initiatives like talent development, leadership training, and cross-functional movement of executives worldwide.
1) Tata Steel is an Indian multinational steel company and subsidiary of Tata Group, with manufacturing operations in 26 countries and over 80,000 employees.
2) Its mission is to strengthen India's industrial base through effective utilization of staff and materials using high technology and productivity.
3) It produces a variety of steel products for industries like construction, automotive, appliances, and sells mainly in the Indian market as well as other Asian markets.
Peekay Steel Rolling Mill Pvt. Ltd. is conducting a study on customer satisfaction. The steel industry in India has grown significantly due to factors such as low labor costs and availability of raw materials. Peekay Steel Castings is a leading steel manufacturer in Kerala, India established in 1991 with an annual production capacity of 5000 MT that has been expanded to 7200 MT. The company produces high quality steel castings for industries such as petrochemical, power, earthmoving, and transportation.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
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Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
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Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
1. We are pursuing a comprehensive
strategy of growth and sustainability.
In spite of a challenging economic environment during the Financial Year
2011-12, Tata Steel focussed on mitigating the challenges of the global
economy and implementing its strategic objectives. Through their consistent
interactions with various stakeholders, Mr. H. M. Nerurkar (Managing Director,
Tata Steel), Dr. Karl-Ulrich Koehler (Managing Director and Chief Executive
Officer, Tata Steel Europe) and Mr. Koushik Chatterjee (Group Chief Financial
Officer, Tata Steel) have shared the Company’s response to the global economic
scenario and its continued commitment to sustainability. These are a few key
themes of the discussions.
The Hlsarna plant at IJmuiden,
the Netherlands.
12 Tata Steel Limited
Management Speak
2. Mr. H. M. Nerurkar,
Managing Director, Tata Steel Limited
Q1. In the backdrop of a volatile global economy,
how would you briefly describe the operating
environment in the last financial year across different
geographies and its impact on the Tata Steel Group?
The global economy has been very volatile in the last
twelve months. While the first half of 2011 showed definite
signs of recovery, the Euro crisis clearly influenced the
business sentiment of the underlying economy since
August - September 2011. After a fairly steady first quarter
of the financial year, the operating environment in Europe
started to decelerate very significantly in the third quarter
with contraction in the market demand for steel resulting in
lower spread between raw material prices and steel prices.
This affected the European performance in the third quarter
specifically. However, the Company has undertaken a series
of initiatives that involves re-orienting the business model
towards better operating management of the existing
facilities, renewal of assets, enhancing the supply chain
strategy to serve our customers better with differentiated
products and services, improving working capital
Mr. Koushik Chatterjee,
Group Chief Financial Officer
Dr. Karl-Ulrich Koehler,
Managing Director and
Chief Executive Officer, Tata Steel Europe
management and reducing overheads and costs towards
a more efficient cost structure across the business. This is a
journey that has already started delivering results and this
strategy would be the cornerstone of the future direction
in Europe.
The South East Asian business has been less impacted by
the Euro zone crisis, especially countries like Singapore,
which have better positioned themselves through
prudent policies to ride out the storm. Consequently, our
Singapore facility, which is an efficient Electric Arc-based
operation, has been fairly steady during the year. Our
Thailand business has been affected by a slower domestic
economy, high cost of raw materials for the Mini Blast
Furnace operations and the adverse impact of the floods.
In view of the adverse macro conditions, a turnaround
strategy was developed, which focused on enhancing
productivity and yields in the three operating units in
Thailand, rationalising the portfolio, better scrap sourcing
to improve the scrap–rebar spread and deriving a better
market premium through a customer-centric strategy.
These structural initiatives are aimed at delivering a
Annual Report 2011-12 13
The Cornerstones of Sustainability
3. sustainable value in the long term. The year ended with an
improved performance in the last quarter.
In comparison, India was relatively better positioned
for the first half of the fiscal year, though the domestic
economy slowed down in the second half. Supply
side issues on raw material availability and the sharp
depreciation of the Rupee affected the operating
environment of the industry. Tata Steel is focused on
its operating performance, through the continuous
improvement programmes, to remain one of the most
competitive steel operations in the industry.
Q2. What has been Tata Steel Group’s capital
investment strategy in the last financial year?
The capital investment in Tata Steel is defined by the
long term strategic plan of pursuing growth in the
Indian market, raw material integration and downstream
value addition. Majority of the capital outlay for the
Group in the last financial year was directed towards the
brownfield and greenfield growth projects in India. We
also allocated capital to our overseas raw material projects
in Mozambique and in Canada. In Europe, the capital
outlay was mostly for sustenance, de-bottlenecking
and efficiency improvement projects, apart from the
commitment made towards the rebuild of Blast Furnace
#4 at Port Talbot.
Q3. Can you articulate the Tata Steel Group’s focus on
sustainability?
While we address all aspects of social, environmental and
economic performance, the issues of immediate material
concern to Tata Steel are the safety and health of our
people, resource conservation, development of innovative
(Right) Steel sheets manufactured in India;
(Facing page) An overview of the 2.9 mtpa
expansion project at Jamshedpur, India.
The Company’s
focus has been
on downstream
and value-added
products through
new investments and
product development.
14 Tata Steel Limited
The Year in Review 2011-2012
4. products and processes which lead to a low carbon future,
minimising the carbon footprint, value creation for all
stakeholders and contributing to the prosperity of the
communities and nations where we operate.
Given the nature of steel-manufacturing operations,
our relentless focus on the safety and health of
the employees is evident from the launch of an
interminable Safety Excellence Journey, to which
new aspects of safety are added every year, and the
Wellness@Workplace programme. They are designed
to provide an injury-free working environment for a
healthy and happy workforce.
The global steel industry faces the challenge of reducing
CO2
emissions and utilising finite resources efficiently. The
effort to develop sustainable steel solutions for a shared
sustainable future has led Tata Steel to continuously
increase its focus on Research and Development.
Our Continuous Improvement journey has provided
direction and served as an enabler in identifying
solutions to the many challenges we face. We have a
robust framework of experiential learning through the
Performance Improvement Teams across the Group that act
as forums for sharing good practices. Our Quality Assurance
systems have accelerated the adoption of new solutions
and improved delivery cycles for new products. Tata Steel’s
long term strategy is focused on sustainability and value
creation in an interdependent manner. It is our endeavour
to align all actions in the Company on the above principles.
Q4. How do you view the demand scenario in India
especially after the sluggish growth witnessed in
Financial Year 2011-12?
During Financial Year 2011-12, India had its own set of
unique challenges. Fuelled by inflation and increasing
Annual Report 2011-12 15
The Cornerstones of Sustainability
5. (Above) Iron ore being transported
at Noamundi, India;
(Right) Steel manufactured for rail
projects in Europe.
Tata Steel’s long
term strategy
is focused on
sustainability and
value creation in
an interdependent
manner.
16 Tata Steel Limited
Management Speak
6. oil prices, the Fiscal and Current Account Deficit touched
record highs in recent years. The exchange rate volatility
increased significantly in the second half of the year. This
impacted the underlying sentiment and uncertainty in the
economic environment. While India recorded growth in
apparent steel use, it was well below the expectations due
to challenging macro conditions.
India’s GDP growth eased to 6.9% in real terms in
Financial Year 2011-12, in comparison to preceding
two years, suggesting a slowdown primarily due to
deceleration in the country’s industrial growth. Steel
intensity correspondingly grew at 5.5% as opposed to
10% in the previous year, signifying below-potential
growth. The Reserve Bank of India, in a bid to contain
inflation, tightened its monetary policy, resulting in
reduced consumer demand and slowing industrial
activity. Reduction in interest rates and cash reserve
requirement ratios are supportive of creating additional
steel demand, as it supports demand creation in interest
rate-sensitive sectors like construction, infrastructure
and automobiles. We hope that the infrastructure
spend as envisaged in the 12th Five Year Plan of the
Government of India, coupled with growing disposable
incomes and rising urbanisation underpins steel
makers’ plans to augment capacity. As per the
Government of India estimates, Indian steel demand is
set to grow structurally over the next decade, though
downside risks of slower than anticipated growth in
the short term is possible given the current macro
economic uncertainties.
Q5. As major capacity additions, primarily in the flats
segment, are being planned in India, how is Tata
Steel poised to defend its market position?
Tata Steel has been pursuing growth in India through
brownfield and new greenfield expansion projects as also
through strategic partnerships. We are in the final phase
of commissioning the 2.9 mtpa project at Jamshedpur
and are currently executing the 6 mtpa greenfield plant at
Odisha in two phases of 3 mtpa each.
India has been a net importer of steel especially at
the high value-added end product portfolio and is
likely to continue to do so. The steel demand in India
will continue to grow given the significant need for
infrastructure growth and the increasing urbanisation
of the population. Over the last decade, Tata Steel’s
strategy has been to move up the value chain towards
differentiated products and services. Therefore, the
Company’s focus has been on downstream and value-
added products through new investments and product
development. Our upstream growth in capacity is
synchronised with the downstream expansion of the
product portfolio in several areas like Tubes, Packaging
and high-end automotive steels. Therefore, our capacity
growth is integrated with value-added downstream
products. Apart from focussing on developing a pipeline
of new products through robust product development,
we also have a very strong service focus on the
retail and distribution network, which is also a big
differentiator in the market place. The above philosophy
is very well integrated with the growth strategy and
therefore we expect to continue to differentiate
ourselves in the market, as we keep growing and adding
new capacities.
Q6. In the last twelve months, how have the raw
material prices impacted the Tata Steel Group?
Raw material prices are one of the determinants of
global steel price but not the only one. Various factors
combine to determine steel price; such as underlying
demand and the competitive advantage of local steel
manufacturers. Global raw material dynamics should
be read in conjunction with changes taking place
within the Indian steel scene. Curtailment of iron ore
Annual Report 2011-12 17
The Cornerstones of Sustainability
7. (Right) A trench mesh machine at
NatSteel, Singapore;
(Facing page) Port Talbot, Wales, UK.
production due to reduced exports, increase in price
of ore due to e-auction, reduced coal availability due
to its diversion for power generation coupled with
increased power and freight costs has led to declining
profitability of the Indian steel makers. Tata Steel
continues to focus on its captive mining operations
in a sustainable manner. European operations were
particularly impacted in the second and the third
quarter of the financial year due to high raw material
costs in the seaborne market and the customers timing
their purchases in line with spot price movements in
the raw material market. However, raw material prices
softened towards the end of 2011 and the “zero lag”
pricing mechanism offered by suppliers for iron ore
helped in reducing the time lag between spot prices
and its impact in product costing. The Company has
made efforts to reduce the inventory levels, in order to
minimise the “lag effect” and consequently lessen the
impact of raw material price volatility.
Q7. How has Tata Steel managed its Balance Sheet
and liquidity in the last financial year?
Tata Steel has judiciously maintained its debt level
despite ongoing capex outlay. Gross debt at the end of
Financial Year 2011-12 was lower than that at the end
of Financial Year 2010-11, in spite of `12,138 crores
(US$ 2,386 million) capex spend. This was achieved
through proactively prepaying debt and assuming
new debt only to the extent required. Total liquidity at
the end of Financial Year 2011-12 was `17,087 crores
(US$ 3,359 million) including `4,887 crores (US$ 961
million) in undrawn credit lines, facilitating the planned
capex programme of the Company. The Net Debt to
Equity ratio for the Tata Steel Group reduced to 1.16 at
the end of Financial Year 2011-12 from 1.55 at the end
of the previous year.
The South East
Asian business has
been less impacted
by the Euro zone
crisis, as countries
have positioned
themselves through
prudent policies.
18 Tata Steel Limited
The Year in Review 2011-2012
8. Q8. How does cash contributions to Pension funds
impact Company’s financials?
The British Steel Pension Scheme (BSPS) is the largest
defined benefit scheme within Tata Steel Europe’s
portfolio, where detailed valuation of its assets and
liabilities is undertaken every three years. As part of the
triennial valuation cycle of the pension funds’assets and
liabilities, the future service cost of the pension scheme
is also reviewed, especially if the fund is likely to be in the
deficit. This leads to discussion about cash contribution
rates and a benefits package to be made available to the
scheme members. The triennial funding valuation is based
on parameters, such as long-term investment return,
mortality rates and company covenants. The triennial
valuation may result in surplus or in deficit and, if there is a
deficit, the same becomes a subject matter of negotiation
between the Company and the Trustees, culminating in a
plan to recover the shortfall, as agreed upon, mutually.
Pension accounting standards require an employer
company to estimate the amount by which the
discounted pension scheme liabilities will increase over
the year, known as the service cost that represents the
costs of additional benefits earned by employees for their
service in the relevant period. The company also estimates
at the start of the year the amount by which the net
present value of pension scheme liabilities will increase
during the year, based on assumed discount rate. The
expected return on fund assets is based on assumptions
of investment performance and reflects changes in the fair
value of fund assets taking into account the contributions
made and expected benefits paid out of the fund. The
combined impact of these movements is reflected in
Reserves. Hence, there is no significant correlation in the
short term between the cash contributions made into the
scheme and its accounting treatment.
Annual Report 2011-12 19
The Cornerstones of Sustainability
9. review of
operations
CONTINUOUS
IMPROVEMENT
programmes
• Kar Vijay Har Shikhar
• OGSM
• Improvement Initiatives
at NatSteel
• The Turnaround Plan at Tata
Steel Thailand
2011-2012
Clockwise from top-left: Raw materials;
Coated steel manufactured by Tata
BlueScope Steel; An employee with safety
gear at Tata Steel Europe; Expansion at
the Jamshedpur Steel Works, India; A
training session in Jamshedpur, India;
The application of steel in construction.
The
Year in
Review