T V Narendran

Merger of 7 subsidiaries with Tata Steel to complete by FY24: CEO Narendran

The merger of 7 subsidiary companies with Tata Steel is expected to be completed in 2023-24 fiscal year, its CEO and managing director T V Narendran said. In September 2022, Tata Steel board had approved a proposal to merge six of its subsidiaries into itself for greater synergies, higher efficiency and reduce costs. "We had already announced (merger of) 6 companies earlier. (Merger of) one more Angul Energy we announced recently," he told PTI in reply to a question on the timeline for the merger. However, the completion of the merger depends on the regulatory processes including NCLT clearances, post which the process is expected to be completed in the next financial year, the CEO said. "We are dependent on the speed at which we can go through our regulatory requirements," he added. Besides Angul Energy, the six subsidiaries to be merged with Tata Steel are Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, and Tata .

Tata Steel posts surprise Rs 2,224 crore net loss in December quarter

Plunge in realisations in Europe, non-cash deferred tax expense on account of British Steel Pension Scheme drag the firm into the red

New UK govt examining our proposal, promised to come back soon: Narendran

We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon

Tata Steel will continue to invest in Odisha, says CEO T V Narendran

Tata Steel which has make investments of over Rs 75,000 crore in Odisha will continue to invest in the state which has 25 per cent of India's total steel making capacity, its MD & CEO T V Narendran said. Narendran made the remarks at the 'Make in Odisha Conclave 2022' in Bhubaneswar on Thursday. "The Tata group of companies, and more specifically Tata Steel, has invested over Rs 75,000 crore in Odisha in the last five years. We will continue to invest to support the growth in Odisha," the official said. Over the last few years in Odisha, Tata Steel has not just built its plant in Kalinganagar, but has also acquired several assets which include Neelachal Ispat plant, he said. According to Narendran, Tata Steel is the largest steel manufacturer in Odisha producing about 9 million tonnes of steel annually. "We plan to double this over the next few years as we expand in all our locations in Odisha. Odisha accounts for 1/4th of the steel capacity in the country today," he said. Steel

Less than 50% capex planned for FY23 utilised, says Tata Steel CEO

Tata Steel has spent less than half of the capex planned for ongoing 2022-23 fiscal year, its CEO T V Narendran said. The company had planned Rs 12,000 crore of capex for the year, of which about Rs 8,500 crore was for India and the balance for Europe. "We have spent a little less of the 50 per cent (of the planned capex) till now," Narendran told PTI in reply to a question related to capital expenditure plan for FY23. For September quarter, Tata Steel reported 90 per cent drop in consolidated net profit to Rs 1,297 crore as against Rs 12,547.70 crore in the year-ago period. In India, Tata Steel acquired Odisha-based steel maker Neelachal Ispat Nigam Ltd (NINL) for Rs 12,000 crore in a bidding process in July. In the UK, the company is seeking 1.5 billion pounds from the UK government to execute its decarbonisation plans. Tata Steel owns the UK's largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country. Narendran h

Tata Steel Q2 net profit down 87.3% to Rs 1,514 cr over decline in margins

Revenues from operations at Rs 59,877.52 crore was marginally down from Rs 60,387.13 crore in the year-ago period

Tata Steel to invest Rs 12,000 cr in FY23 on India, Europe operations: CEO

Tata Steel has planned capital expenditure (capex) of Rs 12,000 crore on its India and Europe operations during the current financial year, the company's CEO T V Narendran said

Tata Steel says govt's export tax decision could alter output targets

T. V. Narendran, chief executive of India's biggest steelmaker by revenue, said that while Tata Steel understood the inflationary concerns, such measures can hit the steel industry over longer term

Bajaj Finserv managing director Sanjiv Bajaj takes over as CII president

He takes over from T V Narendran, CEO and managing director of Tata Steel Limited

"Conscious industry must think beyond its priorities": T V Narendran

India Inc must think outside the regime of incentives and subsidies and improve its competitiveness and productivity while ramping up R&D expenditure for being future ready, CII President T V Narendran said on Wednesday. Speaking at 'Being Future Ready Business Summit 2022', the CII President observed that a responsible and conscious industry must think beyond its own priorities to drive positive change for the nation. He pointed out that recalibration of global supply chains presents an opportunity for the industry to embed itself more firmly in the international arena and expand its global footprint. "We must move away from a risk-averse culture to a mindset that proactively explores all markets and all sectors. The many new free trade agreements being signed with our key market partners open up immense opportunities for our international engagement and we must support and leverage these to the optimum," Narendran said. He called upon the industry to shift the focus on building .

Tata steel to grow organically, new acquisitions unlikely this decade: MD

Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, relying on organic growth at its existing sites

Higher interest rates won't hurt us now as they did in past: Tata Steel MD

In Q&A, T V Narendran explains why growing in India will not add to leverage

TMS Ep161: Palm oil, TV Narendran, contact-sensitive sector, credit score

Should India worry over Indonesian palm oil export ban? Why is TV Narendran confident about economic growth? What can thwart contact-sensitive sectors' recovery? What is credit score? All answers here

Tata Steel's TV Narendran on why current crisis won't derail growth

In a chat with Business Standard's Arup Roychoudhury, CII President and Tata Steel CEO, TV Narendran tells why he believes that current uncertainties may not derail India's growth trajectory

Inflation is No.1 concern for India Inc: CII president T V Narendran

Corporates are looking at inflation with some concern about input costs: Narendran

Cost increase to soon hit everyone due to Ukraine crisis: Tata Steel MD

'Coking coal went up to $650 a tonne and iron ore crossed $150 a tonne. Not just that, all other elements that go into steelmaking have shot up. So have freight rates,' says T V Narendran

Tata Steel to invest Rs 8K cr in capex on India ops in FY22: CEO Narendran

Domestic steel giant Tata Steel will invest Rs 8,000 crore in capital expenditure on its India operations during the current financial year, the company's CEO and Managing Director T V Narendran said

Tata Steel interested in acquiring Vizag-based RINL: CEO T V Narendran

Domestic steel giant Tata Steel is interested in acquiring state-owned Rashtriya Ispat Nigam Limited (RINL), the company's Chief Executive Officer (CEO) and Managing Director T V Narendran said.

Domestic flat steel prices unlikely to go up anytime soon: Tata Steel CEO

In an interview with Business Standard, T V Narendran talks about the company's thrust on exports in 2021-22 (FY22), Europe operations becoming self-sufficient, and the domestic demand scenario

Back to old normal: Robust demand propels metals to pre-Covid levels

In the third instalment of a four-part series on how some of the defining numbers in key sectors are springing back to the pre-pandemic level, Ishita Ayan Dutt looks at India's metals industry