“In the current financial year, we will reduce the debt levels by more than a billion dollars and also enhance the capital allocation to our strategic capex program in India to complete the 5 mtpa (million tonne per annum) expansion in Kalinganagar,” Chatterjee said. Tata Steel said that it has reduced net debt by Rs 29,390 crore during the financial year to Rs 75,389 crore. The company generated healthy levels of free cash flow in the quarter to the tune of Rs 8,800 crore after factoring capital expenditure. “The fourth quarter performance has been stand out in terms of both earnings and cash flows, and helped the company to report one of the highest underlying performance for the full year in spite of the pandemic-related disruptions during the first half of the financial year,” said Koushik Chatterjee, executive director and chief financial officer. Domestic giant Tata Steel on Wednesday said it has inked a pact with a Bengaluru-based startup for drone-based mining solutions for effective mine management. Domestic giant Tata Steel on Wednesday said it has inked a pact with a Bengaluru-based startup for drone-based. Moneycontrol - Tata Steel vs JSW Steel, which stock to bet on ahead of results We ask Amit Dixit of Edelweiss. “Despite a slow start in the first quarter, we managed to deliver strong performance in India with broad-based, market-leading volume growth supported by our agile business model,” said managing director and chief executive officer TV Narendran.Īt the consolidated level, too, the company’s operating performance was strong as adjusted operating profit nearly tripled on-year to Rs 13,933 crore helped by price hikes undertaken by the European business. On a sequential basis however, the revenues are seen decreasing by 11-16 percent. ![]() The strong operating performance by the company reflected the several price hikes undertaken by it during the quarter. ![]() Tata Steel said that its standalone operating margin in the quarter came in at 43.4 per cent.
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