Tata Steel To Focus On Organic Growth, Fresh Acquisitions Unlikely This Decade, Says CEO
Tata Steel Ltd will look to grow organically, and the steel giant is under “no pressure” to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. Mr 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. “Most 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. “We don'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… We will rely more on organic growth during this decade,” Mr Narendran said in an interview. Tata Steel had reported production of 19.06 million tonnes in the 2021-2022 fiscal. The steel behemoth had acquired Bhushan Steel in 2018, followed by Usha Martin in 2019. It is...
