TATA Steel

Tata Steel, formerly known as TISCO (Tata Iron
and Steel Company Limited), is a steel company based in Mumbai, India. It is part of Tata Group of companies.
Its main plant is located in Jamshedpur, Jharkhand, though with its recent acquisitions, the company has become a multinational with operations in various countries. The registered office of Tata Steel is in Mumbai. In the year 2000, the company was recognised as the world's lowest-cost producer of steel. The company was also recognised as the world's best steel producer by World Steel Dynamics in 2005. The company is listed on BSE and NSE; and employs about 82,700 people (as of 2007).
Ratan Tata is the Chairman and B. Muthuraman is the Managing Director of the company. Dr. Tridibesh Mukherjee and Mr. Arun Singh are Deputy Managing Directors of the company
Tata Steel is a limited company registered in India under the Companies Act, 1956.
Tata Steel was established by Indian Parsi businessman Jamshedji Nusserwanji Tata in 1907 (he died in 1904, before the project was completed). Tata Steel introduced an 8-hour work day as early as in 1912 when only a 12-hour work day was the legal requirement in Britain. It introduced leave-with-pay in 1920, a practice that became legally binding upon employers in India only in 1945. Similarly, Tata Steel started a Provident Fund for its employees as early as in 1920, which became a law for all employers under the Provident Fund Act only in 1952. Tata Steel's furnaces have never been disrupted on account of a labour strike and this is an enviable record of sorts.


Production

Tata Steel annually produces 9 million tonnes of steel in India and 21.4 million tonnes overseas, making it the fifth largest steel producer in the world. It produced a record-breaking 5.0 million tonnes of salable steel in its Jamshedpur works in 2006-07.
The company's gross revenue in that financial reporting year was Rs. 20196.24 crores. Its PBT was Rs.6261.65 crores and PAT was Rs.4222.15 crores in the same year.