Lagatar24.com
Language : HINDI
  • Home
  • Jharkhand
  • Bihar
  • National & World
  • Business
  • Health & Lifestyle
  • Sports
  • Entertainment
  • Career
  • Tech – Gyan
  • Opinion
Saturday, 5 July, 2025
Lagatar24.com
  • Home
  • Jharkhand
  • Bihar
  • National & World
  • Business
  • Health & Lifestyle
  • Sports
  • Entertainment
  • Career
  • Tech – Gyan
  • Opinion
Lagatar24.com
No Result
View All Result
  • Home
  • Jharkhand
  • Bihar
  • National & World
  • Business
  • Health & Lifestyle
  • Sports
  • Entertainment
  • Career
  • Tech – Gyan
  • Opinion
Home Business & Corporates

Future holds many opportunities for Tata Steel, says chairman Chandrasekaran during virtual AGM

Lagatar News by Lagatar News
July 6, 2023
in Business & Corporates, Jharkhand
Share on FacebookShare on Twitter

PINAKI MAJUMDAR

 

Jamshedpur, July 6: Tata Steel chairman Natarajan Chandrasekaran said the steel major is focused on its simplification journey to have a simpler governance structure.

“Tata Steel continues to scale up its business in India by way of both organic capital expansion and inorganic acquisitions and is steadfast in its objective of achieving its 2030 target of an overall 40 MnTPA capacity in India”, said Chandrasekaran during the 116th Annual General Meeting (AGM) of shareholders for the financial year 2022-23 held virtually from Mumbai on Wednesday.

In his speech to shareholders,  Chandrasekaran highlighted the company’s financial performance and future plans.

“We endeavour to attain a leadership position in the long products segment. In this context, we acquired the Neelachal Ispat Nigam Limited (NINL). The ramping up of production at NINL to its rated capacity has augmented the capacity.  Further, NINL being part of the Kalinganagar eco-system is well positioned to grow synergistically in the future,” he said.

The chairman said that the company is also investing in circularity and deploying capital towards low-carbon steel making.

Notably, Tata Steel has signed a Memorandum of Understanding with the government of Punjab to establish a state-of-the-art scrap utilising electric arc furnace based long products steel plant in Ludhiana, with a capacity of 0.75 MnTPA. The plant is expected to be operational within two years.

He further said, “The future holds many opportunities for Tata Steel, and the company is well positioned to capitalise on them. As we embark on the journey, the Management team will continue to focus on customer centricity, technology, digital and sustainability initiatives to enhance the company’s competitive position in the global steel industry. The company will be financially prudent while executing its growth strategy so that it can generate sustainable free cash flows and create long-term stakeholder value.”

From a standalone performance perspective, Tata Steel India delivered revenues of Rs 1,29,007 crore, which was in line with the previous year’s revenues. The profit after tax for FY2022-23 was Rs 15,495 crore.

For the financial year ended March 31, 2023, the Board of Directors of the company has recommended a dividend of Rs 3.60 per equity share.

 

Share76Tweet47
Previous Post

PM Modi pays tribute to Syama Prasad Mookerjee on his birth anniversary

Next Post

Mizoram: Police, customs seize 4.6 kg drugs in Aizawal, two arrested

Related Posts

GST Scam: ED Attaches ₹5.5 Crore Assets of Kingpin Shiv Kumar Deora

GST Scam: ED Attaches ₹5.5 Crore Assets of Kingpin Shiv Kumar Deora

July 4, 2025
Massive Illegal Coal Stock Seized in Bokaro; Police Complicity Alleged

Massive Illegal Coal Stock Seized in Bokaro; Police Complicity Alleged

July 4, 2025
Several Jharkhand IAS Officers Nominated for Mid-Career Training in Mussoorie

Several Jharkhand IAS Officers Nominated for Mid-Career Training in Mussoorie

July 4, 2025
No Coercive Action Against Nexgen Owner Vinay Singh in SC-ST Case

No Coercive Action Against Nexgen Owner Vinay Singh in SC-ST Case

July 4, 2025
No Relief for Gangster Sujit Sinha’s Wife Riya from High Court

No Relief for Gangster Sujit Sinha’s Wife Riya from High Court

July 1, 2025
Handover of 329 Liquor Shops Begins in Jharkhand Following Scam

Handover of 329 Liquor Shops Begins in Jharkhand Following Scam

July 1, 2025
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About Editor
  • Advertise with us
  • Privacy Policy
  • Contact Us

© 2024 Lagatar News (Lagatar24.com)

No Result
View All Result
  • Home
  • Jharkhand
  • Bihar
  • National & World
  • Business
  • Health & Lifestyle
  • Sports
  • Entertainment
  • Career
  • Tech – Gyan
  • Opinion

© 2024 Lagatar News (Lagatar24.com)