The true mettle of an organisation is tested when it is able to respond to the challenges the environment throws up and turn them into an advantage. At Tata Steel, it’s been a turbulent year. For the first time in its history, it encountered closure of critical mines. During the same period global steel demand stagnated while imports surged. As a result, margins were under severe pressure.
Staying alert to the dynamics of the steel industry and remaining responsive to it, has enabled us to manage the impact of these challenges and come out stronger. We have seeded several initiatives and projects that will bear fruit in the coming year. A tightening of processes has enabled us to become leaner and more agile than ever before. And an ongoing focus on continuous improvement is helping us innovate to achieve even greater efficiencies.