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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Steel Limited    TATASTEEL   INE081A01012

TATA STEEL LIMITED

(TATASTEEL)
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Tata Steel : Kalinganagar joins the World Economic Forum's Global Lighthouse Network

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07/04/2019 | 12:04pm EDT

~ TSK is the first and the only Indian manufacturing plant to be included in the WEF's Global Lighthouse Network ~

~ The 'lighthouses' are chosen for their leadership in applying Fourth Industrial Revolution technologies to drive financial and operational impact ~

~ TSK, among the 10 new factories, joins the network of 16 existing lighthouses which includes Tata Steel's IJmuiden plant at Netherlands ~

Tata Steel Kalinganagar (TSK) has been included in the list of the World Economic Forum's (WEF's) Global Lighthouse Network, a community of manufacturers that are showing leadership in applying Fourth Industrial Revolution technologies to drive financial and operational impact.

TSK is the first and the only Indian manufacturing plant to be included in the WEF's Lighthouse Network. On July 3, 2019, the WEF announced the addition of 10 new factories, including TSK, to its Global Lighthouse Network.

The factories join a network of 16 existing lighthouses across multiple geographies and industries. They serve as beacons to guide others to overcome challenges in upgrading systems and applying cutting-edge technologies such as artificial intelligence, big data analytics and 3D printing. The factories were selected based on their success in integrating these technologies to increase efficiency and drive innovation. Tata Steel's IJmuiden plant at Netherlands is already a member of this network.

'It is a proud moment for all of us as Tata Steel Kalinganagar joins the prestigious Lighthouse Network of the World Economic Forum. TSK has the distinction of featuring several firsts in the Indian steel industry. At Kalinganagar, we not only have state-of-the-art equipment and utilities but also drive higher productivity through automation and digital interventions. As we increase our capacity at TSK to 8 MnTPA, we will continue to implement the best technologies and innovate across the value-chain to drive operational excellence,' said Mr. T. V. Narendran, CEO & MD, Tata Steel.

Commissioned in 2016, TSK attained production levels at its rated capacity in less than two years. Spread over 3,000 acres of land, Tata Steel Kalinganagar steel plant is the largest single-location greenfield steel project in India.

'The global Lighthouse Network offers an unrivalled opportunity not only to highlight the transformational efforts of the world's most advanced manufacturers but also, more importantly, to create a shared learning journey that will help manufacturers around the world, across value chains and of all sizes to access and capitalize on the positive potential of the Fourth Industrial Revolution,' said Francisco Betti, Head of Advanced Manufacturing Industry, World Economic Forum.

One of the key elements of the Lighthouse Network is its commitment to discovering and elevating solutions that can be scaled up in cost-effective ways across companies and industries.

'The 10 new lighthouses confirm that frontrunners in the Fourth Industrial Revolution draw a competitive advantage from either innovating their production system or by innovating their entire value chains and offering new products and services that were not possible before,' said Enno de Boer, Partner and Head of McKinsey & Company's Global Manufacturing Practice, which collaborated with the Forum on the project.

'What all frontrunners have in common is that they work hard to find ways to scale. For example, Tata not only cracked the code on how to bring predictive maintenance to 50,000 different machines, but they also mastered the challenge of rolling out best practices to a site with a relatively inexperienced site team, supporting them with world-class data insights. Not imaginable before, the site is a benchmark in their network for productivity and time-to-market.' Mr. Enno de Boer added.

The lighthouses have agreed to share their knowledge with other manufacturing businesses, helping them successfully adopt the technologies of the future.

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MnTPA). It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US $22.67 billion in the financial year ending March 31, 2019. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd).

A Great Place to Work-CertifiedTM organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.

Tata Steel retained the 'Global Steel Industry Leader' position in the DJSI 2018. The Company has been recognised as the Climate Disclosure Leader in 'Steel category' by CDP (2017). Besides being a member of the World Steel Climate Action Programme, Tata Steel has won several awards including the Prime Minister's Trophy for the best performing integrated steel plant for 2016-17, 'GreenPro' certification for products (Tata Pravesh Steel Doors, Tata Structura, Tata Pipes) by CII, Authorized Economic Operator (AEO) status (Tier 2) by the Directorate of International Customs (Ministry of Finance, Govt. of India), 'Corporate Strategy Award' by Mint (2018), Golden Peacock Award for Risk Management (2018) and Best Risk Management Framework & Systems Award (2019) by CNBC TV18. The Company also received the 'Most Ethical Company' award from Ethisphere Institute for the eight time (2019), Steel Sustainability Champion (2018) by the World Steel Association, Dun & Bradstreet Corporate Awards (2019), Golden Peacock HR Excellence Award by Institute of Directors (2018), 'Best Companies To Work For' recognition by Business Today, 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.

In 2018, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow. www.wealsomaketomorrow.com

For corporate information, visit www.tatasteel.comand follow us on

Disclaimer
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.

Disclaimer

Tata Steel Ltd. published this content on 04 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2019 16:02:08 UTC

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Financials (INR)
Sales 2020 1 592 B
EBIT 2020 156 B
Net income 2020 50 778 M
Debt 2020 963 B
Yield 2020 3,10%
P/E ratio 2020 7,76x
P/E ratio 2021 5,53x
EV / Sales2020 0,85x
EV / Sales2021 0,84x
Capitalization 382 B
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Average target price 464,39  INR
Last Close Price 333,70  INR
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NameTitle
Thachat Viswanath Narendran Chief Executive Officer, Executive Director & MD
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