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| The World’s Best
Steelmaker twice in a row - thrice since 2000 It really is the story of India Inc. Tata
Steel has been declared the foremost steel maker in the world. This is an outstanding
tribute to the growing competitiveness of Indian companies, especially those in the
manufacturing sector. But to be declared the top performer for the second time in a row is
an honour none can equal. Manufacturers might pride themselves on being the largest, but
in the steel sector, which is driven by size, for Tata Steel a relatively small
manufacturer by global standards, to stand head and shoulders above others is a phenomenal
achievement. The announcement by World Steel Dynamics’ ratings of global steel majors
was most definitely a rewarding way for the Company to close an exemplary year. The
analysis and break up are still awaited from World Steel Dynamics. This is the third time
that Tata Steel has received this honour.
A quick snapshot of where the Company was in 2001 and the position it occupies today
provides a clue to the tremendous prominence it has gained as a global steelmaker. At a
function on April 1, the Managing Director, Mr B Muthuraman summed it up thus, “in
2001 and 2002 we were a 3 million tonne company. Today, we are close to 9 million tonnes.
This is something we had thought that we would become by 2010, and we are still in
2006.”
“Between 2001-2002 and 2005-06, our profits went up by an average compound annual
growth in excess of 20% and our bottomline went up in excess of 40%,” he added.
The credit for this singular achievement goes to the efforts of the people of the Company.
While congratulating the Company’s employees for their success, Dr T Mukherjee,
Deputy Managing Director, Steel, pointed out that the labour productivity of the Company
has soared from 72 tonnes per man per year in 1991-92 to stand at a whooping 269 tonnes
per man per year today.
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Towards a
Century and Beyond 
Tata Steel and You have proved unbeatable
once again. World Steel Dynamics declared the Company as the World No. 1 Steelmaker almost
simultaneously as each member of the Tata Steel family made a determined push to achieve
their collective goal of producing 5 million tonnes in FY 2005-06, even as numerous units
under the 1 million tonnes expansion programme were commissioned. The Company crossed yet
another major milestone with its Hot Strip Mill (HSM) breeching the 3 mt mark. During the
year, the Company, which is rated by analysts as India’s best in the steel sector,
was granted the “BBB Foreign Currency Rating with Stable Outlook” by
international credit rating agency Standard and Poor’s. This rating is among the
highest for any Indian Company and compares favourably with global organisations.
In FY 05-06, both the Steel Business Unit and the Company’s Profit Centres, saw a
surge in productivity and performance.
The year will be particularly memorable for the Company and its employees, Dr T Mukherjee,
Deputy Managing Director, Steel, rejoiced as there is hardly ever a time when a steel
company breaks records across the board. “In crude steel, in saleable steel, in LD #
1, in LD # 2, in HSM, in CRM, in Merchant Mill, in Wire Rod Mill, there is nothing left
where records have not been made last year,” he said.
Exhorting the Company’s employees not to rest on the memories of their laurels but to
remain focussed and determined on its tomorrow, the Managing Director, Mr B Muthuraman
urged, “While the last five years have been very good, they have been invigorating
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