Tata Steel must stem losses in its European operations, managing director T.V. units in the UK and the Netherlands dragged down the company's consolidated earnings in the December quarter.
"What is important is to stop the bleeding in Europe," Narendran said in an interview.
Tata Steel's India operations remain robust, Narendran said. "The India business is very strong from an Ebitda and cashflow point of view.
Even if you see last quarter, it was not as though steel prices were in a great place; still, our Ebitda margin was about 24%," Narendran said.
Narendran said, after its As the capital support required by its European units goes down, the India unit will be able to fund the 10,000-15,000 crore of growth capex needed annually from its cashflows.
Bu hikaye Mint Mumbai dergisinin January 26, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mint Mumbai dergisinin January 26, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
GDP growth falters in Q2, hopes pinned on 2nd half
GDP growth of 5.4% was the lowest in nearly two years, lower than estimates
Aster DM merges with Quality Care in $5-billion deal
Bengaluru-based Aster DM Healthcare on Friday announced a merger with Blackstone-backed Quality Care India Ltd (QCIL) in a deal that will value the combined entity at $5.08 billion (₹43,000 crore).
AIFs, equities pip realty in family office funding
What's Ahead for Family Offices?
Defence contracts emerge as key biz for telecom infra makers
India's push for local manufacturing has prised open a new business frontier for domestic telecom equipment manufacturers.
HUL turns to high-growth segments to lift demand
Premium is the watchword for packaged consumer goods major Hindustan Unilever Ltd (HUL), as it unveiled a new strategy on Friday to ride on an expected rise in household income and increasing consumer preference for more expensive brands and products.
Russia's war economy shows new cracks after ruble plunges
The Russian economy, surprisingly resilient through two-plus years of war and sanctions, has suddenly begun to show serious strains.
Colgate making right moves, but valuation a concern
Colgate Palmolive (India) Ltd has had a good run in recent quarters and continues to make efforts to boost growth.
Kalyani family's wealth war takes a fresh turn
Gaurishankar Kalyani has filed papers to back his claim that HUF exists
Zomato raises ₹8,500 crore via QIP
A big part of the proceeds is to be used to expand Zomato's quick commerce arm Blinkit
Fintech startup Klub halves workforce
Bengaluru-based financing startup Klub laid off about 60-70 employees in September and paused its commerce operations, according to multiple people aware of the developments.
