{"id":40768,"date":"2022-05-08T12:57:37","date_gmt":"2022-05-08T07:27:37","guid":{"rendered":"https:\/\/tradebrains.in\/features\/wb-tata-steel-interview\/"},"modified":"2022-05-08T13:08:39","modified_gmt":"2022-05-08T07:38:39","slug":"wb-tata-steel-interview","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/wb-tata-steel-interview\/","title":{"rendered":"Tata steel to grow organically, new acquisitions unlikely this decade: MD"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2622344696\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Kolkata, May 7 (PTI) Tata Steel Ltd will look to grow organically, and the steel giant is under \u201cno pressure\u201d to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1721706955\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>          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.<\/p>\n<p>          \u201cMost of our growth in the last few years has been through the inorganic route (acquisitions). Currently, we are in a position where all our growth ambitions can be met through organic growth in our existing sites.<\/p>\n<p>          \u201cWe don&#8217;t really need to acquire any new assets to grow (output) to 40-50 MTPA (million tonnes per annum) from the present level of 20 MTPA\u2026 We will rely more on organic growth during this decade,\u201d Narendran told PTI in an interview.<\/p><div class=\"trade-content_5\" id=\"trade-1982352425\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>          Tata Steel had reported production of 19.06 million tonnes in the 2021-2022 fiscal.<\/p>\n<p>          The steel behemoth had acquired Bhushan Steel in 2018, followed by Usha Martin in 2019. It is also on course to complete the acquisition of Neelachal Ispat Nigam Ltd  (NINL) by the end of the April-June quarter.<\/p>\n<p>          Elaborating on the expansion plans of the company, he said the NINL output will be ramped up to 10 MTPA from 1 MTPA, while the Kalinganagar plant will see an expansion to 8 MTPA from 3 MTPA, and later to 16 MTPA.<\/p>\n<p>          \u201cSo, there are huge opportunities and plans being made,\u201d he asserted.<\/p>\n<p>          Speaking of Tata Steel\u2019s decision to stop coal imports from Russia following its invasion of Ukraine, Narendran said the company is aware that the same quantity can be easily sourced from other countries.<\/p>\n<p>          \u201cWe typically buy close to 15 MT of coal annually, of which around 3 MT used to come from Russia\u2026 which can be easily be sourced from countries like Australia, Indonesia and Canada,\u201d he said.<\/p><div class=\"trade-content-10\" id=\"trade-3969168847\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>        Prohibitive insurance and shipping costs from Russia and Ukraine has made trade with those countries difficult for most partners.<\/p>\n<p>          Narendran also ruled out the possibility of hiking steel prices further, as rates were raised earlier this year after the Russia-Ukraine crisis started.<\/p>\n<p>          \u201cMost of the steel price increase happened in February-April. Right now, costs are stable, so steel prices are stable. We are comfortable with that,\u201d the top Tata Steel official said.<\/p>\n<p>          He said steel prices in India are likely to be Rs 8,000-8,500 per tonne higher in the first quarter of 2022-23 as compared to the fourth quarter of last fiscal.<\/p>\n<p>          Narendran said the demand-supply situation in the steel industry is more balanced at present and this will continue for some time.<\/p>\n<p>          \u201cWe are now at a stage where a few things have changed\u2026 one is China is no longer exporting as much steel as it used to in the past, other big exporting countries like Japan and Korea are also reducing shipments because they don&#8217;t want to import raw materials, leave a carbon footprint and export steel.<\/p>\n<p>          \u201cTherefore, we&#8217;re seeing a greater restraint being exercised by most countries which have traditionally been big exporters. In Europe, Ukraine and Russia have also been large exporters, but owing to this war, they are also not in the market,\u201d he explained.<\/p>\n<p>          Narendran said steel consumption will continue to grow in India, South East Asia and Africa, whereas demand in mature markets is likely to be sombre.<\/p>\n<p>          India is fundamentally a good place to manufacture steel, he said, as it has iron ore, unlike most of the other big, steel-producing countries. \u201cAlso, much of the iron ore is in some of the poorest parts of India. Therefore, it has a great opportunity to create steel capacities, jobs and also be an exporter.\u201d           He, however, said India\u2019s steel demand has traditionally grown at less than the GDP growth rate, whereas in developing countries, consumption \u201cshould ideally grow at a faster clip\u201d than the GDP.<\/p>\n<p>          Narendran also expressed apprehension about the crude steel production target of 300 MT by 2030 as envisioned in the National Steel Policy 2017.<\/p>\n<p>          \u201cI don&#8217;t think 300 MT by 2030 is realistic, because we have lost three-four years due to the pandemic and other factors. Even if it grows at 7-8 per cent a year, you will be in the 200-250 MT range. That would be a more realistic estimate,\u201d he said.<\/p>\n<p>          India produced around 120 MT of crude steel during the financial year ended March 31. PTI RBT JRC   JRC<\/p>\n<div class=\"trade-after-content\" id=\"trade-169521499\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Kolkata, May 7 (PTI) Tata Steel Ltd will look to grow organically, and the steel giant is under \u201cno pressure\u201d to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-40768","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tata steel to grow organically, new acquisitions unlikely this decade: MD - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/wb-tata-steel-interview\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tata steel to grow organically, new acquisitions unlikely this decade: MD\" \/>\n<meta property=\"og:description\" content=\"Kolkata, May 7 (PTI) Tata Steel Ltd will look to grow organically, and the steel giant is under \u201cno pressure\u201d to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. 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