TATA STEEL LTD
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BSE Code:
500470
NSE Code:
TATASTEEL
Business Profile
Business Profile
Tata Steel (TATASTL), formerly Tata Iron and Steel Company, is India`s largest integrated private sector steel company. Established in 1907, its steel plant at Jamshedpur produces four million tons of hot and cold rolled flat and long products. Tata Steel`s operations are grouped under strategic profit centers like steel making, tubes, growth shop (for its steel plant and material handling equipment), bearings, ferro alloys and minerals, rings, agrico and wires.
With its competitive advantage in raw materials, efficient operations and USD 2.3 billion modernization program, Tata Steel is among the lowest cost steel producers in the world. The company has technological and strategic tie-ups with world leaders such as Thyssen, Nippon Steel, Hitachi and many more.
In an attempt to decommoditise steel, the company has introduced brands like Tata Steelium (India`s first branded cold rolled steel), Tata Shaktee,..etc. It has opened its first steel retail outlet named Steel Junction. The retail outlet would provide a one-stop destination for consumers intending to go steel shopping.
The company intends to raise its capacity to 15 million tons per annum by 2010 through organic growth and acquisitions. A 6 MT greenfield plant is to be developed in Orissa (to be commissioned in 2010) and another 2.4 MT capacity expansion will be taken up in Jamshedpur (to be completed in 2008). It is planning to set up a greenfield ferro chrome project with an investment of USD 120 million at Richards Bay in South Africa.
Financials
The company disclosed a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 56.37% to Rs 4,662.40 million from Rs 10,685.80 million in the same quarter previous year. Net sales declined marginally 4.79% to Rs 47,357 million, while total income for the quarter fell 5.89% to Rs 47,441.70 million, when compared with the prior year period. It reported earnings of Rs 5.94 a share during the quarter, registering 66.15% decline over previous year period.
Recent Developments
09-FEB-09
The company has revealed that the promoters have pledged 13.53% stake (98.9 million shares).
21-JAN-09
The company has announced that its UK based subsidiary Corus has signed share purchase agreement (SPA) with Klesch & Company for acquisition of Corus aluminum smelters by Briand Investments, an affiliate of Klesch.
20-DEC-08
The company has acquired 300 acres for the Rs 25 billion titanium dioxide project in Tamil Nadu, reports Business Standard. The company reopened its office in Sattankulam, which was earlier closed.
26-NOV-08
Corus, Europe`s second largest steel producer and a subsidiary of the company, sold its 50% stake held in GrantRail Group to its joint venture (JV) partner, VolkerWessels.
30-OCT-08
A new briquette plant set up by the South African subsidiary of the company has in the industrial port of Richards Bay became operational earlier this week, reports Economic Times.
16-OCT-08
The company Group`s subsidiary Corus UK and Companhia Vale do Rio Doce (Vale) have signed a contract under which Vale will supply Corus plants in Europe with almost 63 million metric tons of iron ore over five years. The contract will come into effect in 2009.