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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Tata Steel Limited    500470   INE081A01012

TATA STEEL LIMITED

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Tata Steel : launches Agronest by Nest-In, India's first Smart warehouse for Onion Storage

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08/01/2020 | 04:51pm EDT

Mumbai, July 30, 2020

~ Made with scientific backing and latest innovations and technology ~

~ Will help onion farmers to reduce wastage by half ~

Nest-In, Tata Steel's modular construction solutions brand, has launched a revolutionary onion storage solution 'AgroNest' that is aimed at reducing spoilage of the onions to half of its current level.

This is a first-of-its-kind smart warehouse for onions developed with scientific backing and latest innovation and technology. The lack of scientific storage practices, non-standard designs and poor quality of material used for onion storage leads to over 40% loss of the produce inside the warehouse. With unpredictable weather and climate changes and the recent challenges of transport and movement, farmers face multiple challenges with respect to storage and maintaining a healthy shelf life for their produce. Over the years, the farmers have suffered losses in quality and quantity of their produce, as the onion industry lacks proper storage facilities.

Anand, Chief, Services & Solutions, Tata Steel said: 'We strongly believe achieving self-reliance and self-sustainability in agriculture is critical to making India atmanirbhar. Inspired by this mission, our expert professionals are developing customised solutions for the agriculture sector. Climate change and environmental conditions affect the shelf-life of the farmers produce and lack of proper storage facilities lead to huge losses. We understood the problem here and our teams crafted a solution that is long-term and practical. We are committed to creating innovative products and solutions for our customers and enable a better tomorrow.'

Given that the agricultural sector supports 70% of India's population and contributes to 50% of the GDP, the government is rapidly investing in Farmer Producer Organizations (FPOs). Tata Steel's Innovent identified this white space in the market to build solutions in agri-infrastructure.

Taking a step forward to achieve this objective and support the backbone of the Indian economy, Tata Steel's Nest-In and Innovent teams have developed Agronest, a smart warehouse solution with a unique structural design that maximises air flow, is spacious thus making it conducive for longer and safer storage of onions, and provides a cost-effective environment control to ensure minimal wastage. The warehouse has sensors installed for monitoring temperature, humidity and gas, thereby enabling early detection of spoilage of the produce. Components from 4 major Tata Steel brands - Tata Structura, Tata Tiscon, Tata Wiron and coated sheets from Tata Steel BSL, have been used in the solution, promising quality and structural longevity to the customers.

About Innovent

Innovation is the backbone for any company striving to compete in today's business world. Tata Steel, an industry pioneer and a marketplace innovator, ventured into terra incognita by conceptualizing the Innovent Department in 2014 to strategically develop solutions for the future.

About Nest-In

Nest-In is Tata Steel's modular, steel-based construction solutions business. With its pan-India presence, and highly efficient delivery mechanism, Nest-In strives to provide complete turnkey solutions with unique customer experience at its core. Its pre-fab solutions are suitable for various applications like housing, modular toilets, smart toilets, industrial buildings, portable cabins, etc.

The offerings of Nest-In are geared towards meeting existing and upcoming building requirements of various government initiatives like the Smart Cities Mission, the light construction requirements for corporate projects and operations, and CSR initiatives. Apart from these, Nest-In also serves individual home extension requirements. Know more @ https://www.nestin.co.in/

Key features of Nest-In offerings

  1. Modern construction solution
  2. Hassle free experience
  3. Quality of offerings
  4. High speed construction
  5. Convenient installations in the toughest terrains across India
  6. Reliability of service

For enquiries, please write to us at nest-in@tatasteel.comor contact us at 1800 108 8282.

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 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 (excluding SEA operations) recorded a consolidated turnover of US $19.7 billion in the financial year ending March 31, 2020.

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 was recognised as DJSI steel sector leader in 2018 and has ranked fourth in the steel sector in 2019. Besides being a member of the worldsteel's Climate Action Programme, Tata Steel has won several awards and recognitions including the World Economic Forum's Global Lighthouse recognition for its Kalinganagar Plant - a first in India, and Prime Minister's Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India's most valuable Metals & Mining brand by Brand Finance, received the 'Honourable Mention' at the National CSR Awards 2019, Steel Sustainability Champion 2019 by worldsteel, CII Greenco Star Performer Award 2019, 'Most Ethical Company' award 2020 from Ethisphere Institute, and Best Risk Management Framework & Systems Award (2020) by CNBC TV-18, among several others.

To know more, visit www.tatasteel.comand www.wealsomaketomorrow.com.

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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.

Kulvin Suri

Chief, Corporate Communications-India & SEA

Tata Steel

E-mail: kulvinsuri@tatasteel.com

Disclaimer

Tata Steel Ltd. published this content on 30 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2020 20:51:01 UTC

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Sales 2021 1 277 B 17 075 M 17 075 M
Net income 2021 -18 652 M -249 M -249 M
Net Debt 2021 1 064 B 14 219 M 14 219 M
P/E ratio 2021 -64,4x
Yield 2021 1,86%
Capitalization 470 B 6 281 M 6 280 M
EV / Sales 2021 1,20x
EV / Sales 2022 0,97x
Nbr of Employees 70 212
Free-Float 62,4%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 396,68 INR
Last Close Price 413,25 INR
Spread / Highest target 43,7%
Spread / Average Target -4,01%
Spread / Lowest Target -41,9%
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Managers
NameTitle
Thachat Viswanath Narendran Chief Executive Officer, Executive Director & MD
Natarajan Chandrasekaran Chairman
Sahabji Kuchroo Chief Operations Officer-West Bokaro
Koushik Chatterjee Chief Financial Officer & Executive Director
Jayanta Banerjee Chief Information Officer
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