At current steel prices, margins don't justify investments: Tata Steel CEO

T V Narendran tells that in many ways second quarter of FY25 was the worst, but Q3 also comes with challenges

A bunch of factors were at play in the second quarter of FY25 for Tata Steel — restructuring in the UK, Kalinganagar expansion, and weak market conditions. In an audio interview, T V Narendran, managing director and chief executive officer (MD & CEO), Tata Steel, tells Ishita Ayan Dutt that in many ways, this was the worst, and that Q3 also comes with challenges. Edited excerpts:

 

Q: Cheap imports and weakness in global markets are weighing on your Indian and European operations. What is the outlook for the December quarter?

 

We are not out of the woods yet. We are