TRANSFORMING FOR TOMORROW

TATA STEEL stayed strong in FY24, sharpened its strategic focus on India's growth, capacity expansion, and the transition to green steel

- T. V. NARENDRAN, CEO & Managing Director

TATA STEEL, one of India's oldest industrial giants, stayed resilient in FY24 amidst global volatility, reaffirming its faith in India-led growth, strategic capital discipline, and a future driven by green steel. While macro challenges dented international operations, the company's India business delivered steady performance, backed by strong execution, expanding capacity, and a sharpened customer-first strategy. It performed rather well amidst a challenging business climate.

Tata Steel reported consolidated revenues of Rs 2,29,171 crore in FY24 and EBITDA of Rs 26,373 crore. Net profit came in at Rs 5,128 crore, with India operations contributing a dominant 67 per cent to consolidated volumes and nearly 80 per cent to consolidated EBITDA— underlining the strategic shift toward growing its domestic footprint.

CEO & MD T.V. Narendran said: “FY24 was a year of recalibration, consolidation, and continued growth in India. While external headwinds persisted globally, we continued to execute our strategy with discipline and speed, especially in our India operations.”