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.
Major
highlights and milestones
Signed a joint agreement with the UK government for investment in low-CO2 steelmaking, at Port Talbot with a capital cost of £1.25 billion inclusive of a grant from the UK Government of up to £500 million
Successfully merged five of its Indian subsidiaries
Upgraded to investment grade from 'Ba1' Positive to 'Baa3' Stable, by Moody’s
Presented the Green Steel Plan to the Dutch government, outlining the blueprint for the Netherlands' most prominent industrial transition to low-CO2 steelmaking
Signed an MoU with Imperial College London, to establish a Centre for Innovation in Sustainable Design and Manufacturing
MoU with The Henry Royce Institute, Manchester, to establish a Centre for Innovation in Advanced Materials
First Indian company to implement a fully automated end-to-end solution for handling issuance and amendments of Import Letters of Credit (LC) through Blockchain technology and SWIFT
Hosted the inaugural Learning Mission for the Indian Foundation for Quality Management
Rooftop solar installation at Hot Strip Mill, Jamshedpur plant
Achieved a successful trial of hydrogen injection at the E Blast Furnace in Jamshedpur
Signed an agreement with Tata Power Renewable Energy Limited to source 379 megawatts of renewable power
Agreement with Tata Power Renewable Energy Limited to source 379 MW of renewable power
Production(MT)
Deliveries(MT)
Turnover(` crore)
EBITDA(` crore)
Reported PAT(` crore)
Launched a digital platform, Portal of Purpose, to enable easier access to curated volunteering opportunities
Ankita Bhagat and Bhajan Kaur, cadets of Tata Archery Academy, Jamshedpur, won bronze in the Recurve Archery Women’s Team event in the Asian Games 2023
Under the ‘Flames of Change’ initiative, Tata Steel recruited 23 women to create the first-ever crew of female firefighters in the steel industry in India
Steel industry’s first crew of female firefighters
The signature programmes of Tata Steel Foundation have been scaled up to have a tangible impact, saturating entire districts. All panchayats and blocks of Keonjhar district declared themselves Child Labour-free in January 2024 vide our education programme working with 1.4 million children. MANSI+ (Maternal and Newborn Survival Initiative) reaches 3 million households across East Singhbhum, West Singhbhum and Seraikela Kharsawan, handling 45,000+ highrisk pregnancies with 99% redressal.