Transforming for tomorrow

By adopting new-age technology, fostering a culture of innovation, formulating responsible practices, empowering communities, and building a future-ready and resilient workforce, Tata Steel is leading the transformation for tomorrow.

Performance Snapshot FY2023-24

Major highlights and milestones

FY2023-24 was a year of notable progress for Tata Steel. The Indian operations saw volume growth and a focus on optimising cost profile. The Company took decisive steps towards transforming its operations in the UK and the Netherlands.

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20.12 ↑ 2.28%

Production (MT)

19.91 ↑ 5.60%

Deliveries (MT)

1,40,987 ↓ 1.35%

Turnover (MT)

31,004 ↑ 7.38%

EBITDA (₹crore)

4,807 ↓ 62.26%

Reported PAT (₹crore)

29.94 ↓ 2.33%

Production (MT)

29.39 ↑ 2.10%

Deliveries (MT)

2,29,171 ↓ 5.83%

Turnover (MT)

31,004 ↓ 28.43%

EBITDA (₹crore)

(4,910) ↓ 160.80%

Reported PAT (₹crore)

Contribution to UN SDGs

Tata Steel aligns its operations and CSR with the UN Sustainable Development Goals to ensure a better future.

N Chandrasekaran Chairman

Chairman’s Message

Crafting a bold future

In FY2023-24, Tata Steel's Indian operations delivered the highest ever crude steel production at 20.8 MT and delivered the highest finished steel at 19.9 MT.

Business Model

FINANCIAL CAPITAL

New Worth (₹crore)1,35,222

New Debt (₹crore)38,024

MANUFACTURED CAPITAL

Installed crude
steel capacity (MTPA) 20.6

INTELLECTUAL CAPITAL

Collaborations/Memberships with

Technical Institutes (nos.) 19

Patents filed (nos.) 142

HUMAN CAPITAL

Employees on roll1 (nos.) 43,263

Investment in employee
training and Development
(₹ crore) 240

Employee training
(thousand person-days) 589

SOCIAL AND RELATIONSHIP CAPITAL

Total dealers (nos.) 22,000+

Total distributors (nos.) 250+

Active supplier base (nos.) 8,898

CSR spend (₹ crore) 580

NATURAL CAPITAL

Energy Intensity (GJ/tcs) 24.55

Specific freshwater
consumption (m3 /tcs) 2.53

Capital spends on
environment, social and
governance matters (₹ crore) 1,568

Steel Value Chain

Enabling Functions
Supply chain

20 MT

Finished goods handled

68 MT

Raw material
handled

Human Resources2

900 MT  

tcs/employee/year

Employee productivity

Technology

₹285 crore

R&D spend

By-products

₹8,560 crore

Revenue from by product sales

Digitalisation

1,500 +

Digital projects undertaken

20.13 MT

production

19.91 MT

Deliveries

13.7 MT

Enriched/value added product sales

5,682 crore

Revenue from commercial mining3

FINANCIAL CAPITAL

Turnover (` crore) 1,40,987

EBITDA (` crore) 31,004

Savings through
Shikhar25 projects (₹ crore) 6,821

MANUFACTURED CAPITAL

Crude steel production (MT) 20.12

INTELLECTUAL CAPITAL

Patents granted (nos.) 395

New products developed (nos.) 86

HUMAN CAPITAL

Health index
(Score out of 16) (nos.) 13.3

Diversity mix5 (%) 19.2

LTI (nos.) 156

LTIFR (Index) 0.39

Workforce covered through formal workforce unions6(%) 89

SOCIAL AND RELATIONSHIP CAPITAL

Suppliers assessed based
on safety (nos.) 1,923

Customer satisfaction
index (Steel) (out of 100) 86.1

Business associates
trained on TCoC (nos.) 1,358

Supply chain partners
assessed on Responsible Supply
Chain Policy (nos.) 216

Quality/customer
complaints (PPM) 13,770

Lives impacted through
CSR initiatives (million) 4.4

NATURAL CAPITAL

CO2 emission intensity (tCO2/tcs) 2.43

Stack Dust emission
intensity (kg/tcs) 0.35

Solid waste
utilisation7 (%) 115

Effluent discharge
intensity (m3 /tcs) 0.32

SOx emission intensity (kg/tcs) 1.63

NOx emission intensity (kg/tcs) 0.87

Total sites covered
under biodiversity
management plans 17

Note: The data reported in the above table pertains to Tata Steel Limited

Strategy Roadmap 2030: Building blocks for tomorrow

Strategic Objectives

Leadership in India

Consolidate position as global cost leader

Attain leadership position in adjacent businesses

Leadership in sustainability

Strategic Enablers

1. Best place to work in Manufacturing in India

2.Top 5 in technology in the steel industry globally

3.Digital leader in the steel industry globally

4.Foster a culture which makes Tata Steel future-ready

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Our Strategy

ESG Goals

Tata Steel’s ESG goals underpin its sustainability journey, focusing on reducing carbon footprint, adopting renewable energy, prioritising workplace safety, fostering inclusivity and upholding ethical business practices.

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Opportunities
Driven by strong domestic consumer demand, infrastructure investments, heightened manufacturing activities, India is expected to continue its growth trajectory.
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Risk Management
Tata Steel’s Enterprise Risk Management framework identifies, assesses, monitors, and mitigates risks, ensuring business resilience and proactive risk management across the Company.
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Stakeholder Engagement

At Tata Steel, the Company creates shared value through stakeholder relationships, engaging through focused groups and platforms, guiding its journey to becoming a leading steel company.

Materiality

Tata Steel prioritises stakeholders, using periodic materiality assessments to understand and address their needs and concerns effectively.

Our Capitals

Financial Capital

Tata Steel prioritises strategic capital allocation, drives operational efficiency, and manages debt effectively to ensure long-term sustainable returns for its stakeholders.

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Key highlights in FY2023-24

`77,550Crore

Net Debt

`20,301Crore

Cash flow from operations

Our Capitals

Manufactured Capital

Tata Steel's advanced production facilities, robust infrastructure, and mining assets ensure high-quality steel products, operational efficiency, and sustainable growth to meet global market demands and drive innovation.

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Key highlights in FY2023-24

35MTPA

Consolidated steelmaking capacity

Our Capitals

Intellectual Capital

Tata Steel’s intellectual assets encompass the Company’s R&D initiatives, subject matter expertise and strategic partnerships that aid its efforts to be at the forefront of innovation.

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Key highlights in FY2023-24

`953Crore

R&D spend

105

New products developed

588

Patents granted

Our Capitals

Human Capital

Tata Steel’s dedicated employees, in-house knowledge, and pioneering spirit help the Company build a future-ready culture.

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Key highlights in FY2023-24

100

Transgender talents

900

Employee productivity (tonnes of crude steel per employee per year)

19.2%

Diversity mix

Our Capitals

Social and Relationship Capital

Tata Steel values continuous stakeholder engagement for business growth and sustainability, nurturing long-term relationships with them through well-established and evolving forums, ensuring lasting collaboration and mutual success.

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Key highlights in FY2023-24

86.1

Customer Satisfaction Index

216

Supply chain partners assessed

`3.60

Dividend to shareholder (per equity share)

Our Capitals

Natural Capital

Tata Steel drives responsible resource use to reduce its carbon footprint, foster circular economy practices and combat climate change.

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Key highlights in FY2023-24

2.8Tonnes CO2e

Greenhouse gas intensity per tonne of crude steel (as per the GHG Protocol)

NET ZERO

by 2045

Awards & Recognition

Sustainability

Responsible Steel Certification

for Kalinganagar and Meramandali plants in 2024

Innovation

'Digital Enterprise of India – Steel' Award 2024

by Economic Times CIO for innovative digital initiatives driving transformation and efficiency in the steel industry

People

Tata Affirmative Action Programme (TAAP) Jury Award

at the TAAP Convention 2024 for exceptional efforts in promoting inclusivity and opportunities among underserved communities