Tata Steel wins inaugural MINT Corporate Strategy Awards
Tata Steel has been chosen the winner of the MINT Corporate Strategy Awards in the ‘Renewals’ category. The award recognises companies that are champions in evolving strategies for sustained market leadership.
Mr. Anup Sahay, Chief, Corporate Strategy & Planning, Tata Steel received the award on behalf of the organisation from Shri Venkaiah Naidu, Hon’ble Vice President of India, at a function held today in Mumbai.
Tata Steel is proud to be among the winners of this inaugural award that has been instituted for the first time by MINT, a leading Indian financial newspaper, to recognise the companies whose strategies are best suited for the industry they are in.
About MINT Corporate Strategy Awards
Winners of the MINT Corporate Strategy Awards were chosen for the excellence based on a methodology developed by consulting firm BCG to evaluate the performance of listed and unlisted companies above Rs. 2,000 crore in revenue.
These firms were chosen from among various sectors classified into 4 ‘strategic environments’ based on a framework developed by the Boston Consulting Group (BCG) that identifies different strategic environments in which companies operate. The strategic environments are defined by varying levels of market uncertainty, malleability and harshness.
The sector classifications were based on sector-level financials over a 3-year period within each sector. A methodology was used to rank each company based on its Sales, CAGR, PBIDT%, ROCE%, D/E ratio, work environment, women’s initiatives, and corporate social responsibility.
Finally, a jury comprising Rama Bijapurkar, one of India’s most respected thought leaders on market strategy and consumer economy; Cyril Shroff, managing partner at law firm Cyril Amarchand Mangaldas; Sanjay Nayar, chief executive of KKR India; Neeraj Aggarwal, senior partner and managing director, BCG; and R. Sukumar, editor-in-chief, Hindustan Times, at an extended brainstorming session in Mumbai on March 1, picked the winner in each category, based on their sense of how effectively these companies’ track records positioned them for continuing leadership in their industry.
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 70,000. 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.