Tata Steel Limited has acquired full ownership of Tata Ryerson Limited to enhance its integrated material management services in India.

Target Overview

Tata Steel Limited is a prominent player in the global steel industry, headquartered in India. For the fiscal year ended March 31, 2009, Tata Steel reported consolidated group financial results highlighting a 9% increase in deliveries from its Indian operations, reaching 5.23 million tonnes. However, the overall steel deliveries for the Tata Steel Group decreased by 10%, totaling 28.54 million tonnes compared to 31.68 million tonnes in the previous fiscal year. Despite these challenges, the Group's turnover for FY 2008-09 rose by 12% to Rs. 147,329 Crores (approximately US$ 28,962 million), showcasing Tata Steel's resilience in navigating a challenging market environment.

The increase in turnover can be attributed to higher pricing rather than volume growth, reflecting the impact of market dynamics. The Group recorded an EBITDA of Rs. 18,495 Crores (US$ 3,636 million), representing a modest growth of 1% from the previous year. This performance underpins Tata Steel's operational capabilities despite the headwinds faced across its global operations, particularly in Europe.

Industry Overview in India

The Indian steel industry has seen a substantial increase in production and consumption over the past decade, evolving into one of the leading players globally. The demand for steel in India has been driven largely by rapid urbanization and infrastructure dev