narendran, ceo and md of tata steel what does pre-covid
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6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 1/18
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Updated on : Monday, June 29, 2020, 6:21 PM IST
By FPJ Web Desk
FPJ INITIATIVES
What does pre-COVID and post-COVID mean to the steel industry? Hear from T VNarendran, CEO and MD of Tata Steel
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6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 2/18
T V Narendran, CEO and managing director of Tata Steel Limited.
The impact of the COVID-19-induced lockdown has come as a big blow to the steel industry. According to Care
Ratings, India’s crude steel production fell by a record 69.5 per cent year-on-year in April 2020 (provisional). To
6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 3/18
understand the way forward for the steel industry at this juncture, FPJ-IIM Indore is organising a webinar on
steel with T V Narendran, CEO and managing director of Tata Steel Limited.
The webinar is the concluding part of the series ‘India After COVID-19’ will be held on July 2 at 5.30 pm.
Click for registration.
Free Press Journal@fpjindia
.@IIM_I & @fpjindia bring webinar on "The Steel Industry in India post COVID-19" as part of a series of "India after COVID-19".Presented by Mr. T V Narendran, MD & CEO, @TataSteelLtd , at 5:30PM on 2nd July. Free Participation. Registration link: docs.google.com/forms/d/e/1FAI…
here
6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 4/18
With the construction industry at a standstill, the term normalcy looks like a distant possibility. The only relief for
steel industry is that it was listed as an essential commodity and was permitted to operate even during the
lockdown period.
According to a Crisil survey, steel manufacturers are looking at ways to tide over during these troubled times.
The manufacturers have been focussing on managing liquidity and cash �ows in the near term. This decision
was driven by the belief that there can be a contraction of 60-65 per cent in demand in the �rst quarter of �scal
2021.
The trouble for the industry started brewing even before the COVID-19 pandemic hit the world. The
consumption and production of steel were already showing a declining trend. The global slowdown was biting
into the steel industry.
In March 2020, steel consumption growth dropped to 6.7 per cent, from 7.8 per cent in February 2020. The
demand for steel contracted by 91 per cent year-on-year in April 2020, according to Care Ratings.
10:35 AM · Jun 26, 2020
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6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 5/18
Trend in steel consumption
In the month of April, only the top six integrated steel producers reported production. These steel companies
were working at less than half of their capacities. “Small scale secondary steelproducers are unlikely to have
Care Ratings
6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 6/18
reported any signi�cant production as they are grappling with additional challenges of low working capital and
depleting cash reserves under lockdown.
6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 7/18
6/30/2020 What does pre-COVID and post-COVID mean to the steel industry? Hear from T V Narendran, CEO and MD of Tata Steel
https://www.freepressjournal.in/fpj-initiatives/what-does-pre-covid-and-post-covid-mean-to-the-steel-industry-hear-from-t-v-narendran-ceo-and-md-of-tata-steel 8/18
Trend in steel production
The slowdown in demand from user industries like construction, real estate, auto and infrastructure which
consumes 80 per cent of steel led to a sharp fall in steel production. Moreover, the construction sector which
accounts for 50-60 per cent of the total demand for steel was under immense pressure in FY20 due to �nancing
constraints and post-lockdown came to a near standstill.
It will be interesting to hear from Narendran on how he sees this steep drop in production and demand.
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