Tata Steel Retains Top Rank in Mining and Metals Sector, Demonstrates Strong Brand Value Growth: Brand Finance Report
~ Company’s brand value amounts to USD 2.3 billion, a remarkable 41% increase over last year ~
Tata Steel has been ranked as the highest-valued brand in the Mining and Metals space by Brand Finance, a brand valuation consultancy. The Company solidifies its position as the foremost brand in the mining and metals sector, retaining the top rank in the Top 5 Most Valuable Companies. With a remarkable 41% increase in Brand Value, amounting to USD 2.3 billion, Tata Steel demonstrates its commitment to excellence and resilience in challenging times.
Tata Steel's success stems from its ability to adapt, invest in advanced technologies, and prioritise sustainability. The Company has consistently delivered high-quality products and services, earning the trust of customers worldwide. Additionally, Tata Steel's commitment to innovation drives its continuous improvement and technological advancements, allowing it to stay ahead of the competition. The brand's growth is further fueled by the revival of infrastructure and greenfield investments in India, reflecting Tata Steel's significant contributions to the nation's development.
In the Brand Finance Global 500 2023 report, which identifies the world's top 500 most valuable brands, the Tata Group stands out as the only Indian brand to secure a position within the top 100. Tata Group has retained its title of India’s most valuable brand and is accelerating ahead with double-digit brand value growth (10.3%) to US$26.4 billion – it is for the first time that any Indian brand has surpassed this impressive brand value marker. This recognition highlights the Tata Group's dedication to innovation, sustainability, and community welfare, positioning it as a global business trailblazer.
Amidst the global pandemic and geopolitical uncertainties, India's top 100 most valuable brands, including Tata Steel, have displayed remarkable resilience.
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.
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About Tata Steel
- Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.
- It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.
- The group recorded a consolidated turnover of ~US$30.3 billion in the financial year ending March 31, 2023.
- A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
- Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.
- The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
- Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
- The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
- Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteelTM Certification.
- Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, No. 1 brand in India in the Mining and Metals industry in Top 100 brand rankings for 2023 by Brand Finance, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute.
- Received 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
Photographs: Management and Plant facilities
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