Tata Steel wins at the Dun & Bradstreet Corporate Awards 2017
~ Tata Steel was awarded in the ‘Iron and Steel’ sector for the third consecutive year ~
Tata Steel bagged the award in the ‘Iron and Steel’ sector at the Dun & Bradstreet Corporate Awards 2017, at a ceremony held in Mumbai. In recognition of its excellent performance, the award was received by Ms. Dipali Talwar, Group General Counsel, Tata Steel from Chief Guest Shri Arjun Ram Meghwal, Honourable Minister of State for Finance and Corporate Affairs, Government of India. Tata Steel has been a recipient of this award in the years 2015 and 2016 and has won it for the third time in a row.
This year, Tata Steel secured the first position in India and in the top 10% globally for profitability (EBITDA & ROIC). The Company also completed its largest greenfield project in India at Kalinganagar with an investment of approximately Rs. 25,000 crore, adding 30% production capacity to Tata Steel. Furthermore, through its CSR initiatives and projects, Tata Steel touched 1.1 million lives this year. The Company has won a number of accolades and awards for its business performance, company ethics and sustainability goals.
Over the past decade, Dun & Bradstreet India has endeavored to provide top Indian companies a global platform through its initiative Dun & Bradstreet Corporate Awards. The award recognises the exemplary performance in the corporate world and facilitates the top companies across various sectors.
Expressing her gratitude, while receiving the award, Ms. Dipali Talwar, Group General Counsel, Tata Steel said, “We are honoured to have received this award from Dun & Bradstreet India once again! Tata Steel has constantly centered around operational brilliance and conveying an incentive to each one of its stakeholders. It is a privilege to have our endeavors and efforts recognised. The award is also an acknowledgment of the commitment and unstinted support of our employees. We will keep striving towards exceeding our own expectations and the expectation of our customers."
The award is based on the premise of recognising the twin virtues of size and growth of the companies. The primary focus is on business size and growth, profitability, efficiency, leverage, solvency and corporate governance. The parameters considered for the awardees were total income, net profit, net worth, net profit margins, growth in total income, growth in net profit, return on net worth and return on assets, among others. Front-runners in various categories were chosen on the basis of a composite score of the weighted parameters.
About Tata Steel
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 27.5 million tonnes per annum (MTPA) as on March 31, 2017. It is the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Group recorded a consolidated turnover of US $18.12 billion (INR 117,420 crore) in FY17. Tata Steel Group is spread across five continents with an employee base of nearly 74,000. Having bagged the Deming Application Prize and Deming Grand Prize for continuous improvement in 2008 and 2012 respectively, Tata Steel has now been recognised as the global ‘Industry Leader’ in ‘Steel category’ by Dow Jones Sustainability Index (2015). Besides being a member of the World Steel Climate Action Programme, Tata Steel has also been felicitated with several awards including the Prime Minister’s Trophy for the best performing integrated steel plant for 2013-14 (received in 2017), Best Risk Management by CNBC TV18 (2016), ‘Best-in-class Manufacturing’ award from TIME India (2016) and the ‘Most Ethical Company’ award from the Ethisphere Institute (2016), IIM Sustainability Award (2015), among several others.
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.
Chief, Corporate Communications, India & SEA