Tata Steel’s growing dominance in Asia was reflected in the Company’s inclusion in BusinessWeek’s first annual ranking of Asia’s outstanding public listed companies, BusinessWeek 50.

This ranking is drawn from the Standard & Poor/Citigroup/Pan Asia Index comprising major companies listed on established regional exchanges. As many as 625 companies met the criteria drawn up

Tata Steel ranked 5th among Best Asian
Performers
Corporate News


missives to his top lieutenants detailing what he has observed during his travels or offering his musings on what the Company needs to do going forward”.

by BusinessWeek. But to make it to the Winner’s Circle, of the BusinessWeek 50, companies had to prove their worth even in the face of economic uncertainty. These companies that had “their act together represent the very best in the fastest-growing region in the world”, BusinessWeek stated. This year, energy and natural resource producers ruled the roost in the rankings.

The editorial team of the magazine met the Managing Director, Mr B Muthuraman. It described him and his work style thus:


“Very little disturbs the calm Brahmin from south India -- except talk that manufacturing is somehow a lesser endeavour than information technology. He’s clearly a factory man. Muthuraman is also erudite and can quote liberally from the Western classics as well as the Hindu

We bring you excerpts from Mr Muthuraman’s response to some questions posed to him by BusinessWeek, Bombay Bureau Chief Manjeet Kripalini.


What are your ambitions for Tata Steel?

We are aiming to be a 20-million-ton company by 2010 and 35 million-ton company by 2015. We currently make 7 tons of steel a year, and this includes Singapore’s NatSteel and its China plant. By 2015, we’ll be among the top five steel companies in the world in size. We’ll build through greenfield ventures, and by acquisition.

What are the hurdles you face along your growth path?

scriptures. He often dashes off - in longhand, later scanned on to the computer and then dispatched -- six to seven-page


The biggest is human resource and leadership. A company that has grown at a leisurely pace is suddenly speeding up.

 
Tata Steel upgraded to BBB by S&P


With Tata Steel having insulated itself from direct and indirect sovereign risks through moderate leverage, strong free cash flow generation and a competitive business environment, Standard & Poor’s has upgraded Tata Steel’s Foreign Currency Rating to “BBB with stable outlook” two notches above India’s Sovereign of “BB+”. This is part of Standard & Poor’s initiative to upgrade ten companies in Asia beyond the sovereign ceiling.

The revision of Tata Steel’s rating will, the Managing Director, Mr B Muthuraman said, allow the Company to access global funds for its growth plans and create sustainable long term shareholder value. Mr Koushik Chatterjee, Vice President (Finance), is of the opinion that S&P’s rating reflects Tata Steel’s strong balance sheet and financial position.
 

  




   



“This is an important milestone and reflects Tata Steel’s competitive position in the industry.”

- Mr B Muthuraman
 

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