Innovation and Sustainability is at the heart of what we do at Tata Metaliks. We inspire to shape breakthrough ideas by creating a culture of innovation, to pave the way for impactful outcomes. Leveraging the power of data analytics and new-age technologies, we are fostering a culture of innovation and excellence to drive improvements in processes, services and products. We are marching ahead on our journey of digital transformation by rapidly adopting industry 4.0 principles and becoming a ‘Digital Factory’ in line with our vision of ‘Reaching Tomorrow First’.

Staying aligned to our legacy of sustainable value creation, we are one of the select few in the Steel industry to participate in the Carbon Disclosure Project. Realising our aspirations, we are recalibrating our actions to be carbon neutral by 2050 and are on track to become water positive by 2025, braving the pandemic-induced challenges. Our high-impact CSR interventions aims to uplift the lives of communities with a focus on Education, Health & Essential amenities and skill building, to uplift countless families to aspire for a sustainable tomorrow.

At Tata Metaliks, we are in the midst of exciting times poised to grow manifold and contributing for a better tomorrow of shared prosperity.

Business Segments
Prmising quality.



TML has two major product offerings – Pig Iron (PI) and Ductile Iron Pipe (DIP). The Blast Furnaces produce Hot Metal using iron ore, sinter, coke and flux, which is partly convertedinto our valued-added product DIP for use in water infrastructure and other applications, and balance is cast into PI for use in manufacture of castings.

Our products are manufactured from our state-of-the-art manufacturing facility in Kharagpur, West Bengal. Since inception, we have created a distinct identity for our class-leading products on account of our quality and consistency.

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PI is an intermediate product of commodity nature, used in foundries for production of iron castings.


Market share
Financial performance


Revenue share


Share in sales volume

DIP is an end product in the value chain used for transmission of potable water, waste-water and water for irrigation purpose.


Market share
Financial performance


Revenue share


Share in sales volume
Business Model
Optimising capital utilisation.

Maximising vale.

Rs. 1525 crore

Net Worth

Rs. 21 crore

Net Debt

2746 crore


237 crore


Dividend 80%

(face value of ₹ 10 each)

426 crore



Return on Net Worth:

Market Capitalisation2432 crore

(as on March 31, 2022)
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6.00 LTPA

HM capacity

2.55 LTPA

DIP capacity

29 MW

Captive power generation rated capacity

5.65 Lt

HM production

2.36 Lt

DIP production

22.4 MW

Captive power generated
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% of employees involved in improvement projects


Robots deployed in production

`6.9 crore

Capex on digital projects


No. of kaizens

`71 crore

Savings from improvement projects
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Employees on roll

`42 lakh

Investment in employee training and development


Safety training sessions





4.6 (on 5)

Training effectiveness


Diversity % women in workforce (permanent)


Employee engagement score
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829 Kt

Iron ore

63 Kt


284 Kt


2,500 m3/day

Water recycled/day


Materials recycled back into process
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Social and
relationship capital


Supplier base


Customer service processes

`5.40 crore

CSR contribution

6.32 (on 7)

Vendor satisfaction score


Repeat sales to PI customers


Sales to key and elite DIP customers


CSR outreach+


EV Hours
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Chairman’s Message
Driving efficiency.

Propelling grwth.

Dear Stakeholders,

It gives me great pleasure to present to you the 5th Integrated Report & 32nd Annual Accounts of your Company for the financial year ended March 31, 2022.

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Operating Context

envirnment. Offering

new opportunities.

The year 2021 started on an optimistic note for the Indian economy with increasing demand. However, the second wave of COVID-19 posed renewed uncertainties and consequent volatilities. However, at Tata Metaliks, we remained resilient with strong oversight on economic and industry developments and megatrends that shape our opportunity landscape. Accordingly, we recalibrated our action plans to capitalise on emerging opportunities to sustain our growth trajectory.

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Key Performance Indicators
Demonstrating prudene.

Delivering value.

We have a strong track record of delivering steady growth. Even amid extreme volatility in the external environment in the pandemic-disrupted past two years, we have recorded a resilient performance, aided by robust strategy, favourable portfolio mix, improved cost structures and optimised working capital.


Vendor satisfaction score




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Board gender diversity


Board Meeting attendance


Board Committee attendance


Ethics/POSH training sessions


Investor complaints Resolved
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Stakeholder Engagement
Nurturing relatinships.

Aligning interests.

Our stakeholders play a pivotal role in shaping our
excellence journey. Our response to their expectations and
concerns has a significant impact on our value creation
abilities. Our stakeholder engagement process aims to
gather crucial insights to build sustainable and responsible
practices across the value chain.

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Material Issues
Identifying issues.

Responding with


Material issues are those with the potential to significantly affect our ability to deliver on our strategy, to create sustainable value for the Company in the short, medium and long term.

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Risk Management
Mapping diligently.



Identifying and managing risk is critical to our business for a sustainable future. In addition, an integrated risk management framework ensures the effective governance of operational and strategic risks.

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Strategic Planning Process
Culture of collaboration.

Pillars of prgress.

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Innovate and Excel
Driving innvation.
Getting future-ready.

At Tata Metaliks, we promote a culture of continuous learning and improvement. Our relentless pursuit of excellence is anchored to our strategic pillar of Innovate and Excel.

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Cost Leadership
ptimising efficiency.
Maximising yield.

We deploy cutting-edge technologies and adopt global best practices to drive operational efficiency, which enables us to optimise cost, maximise yields and set industry benchmarks. We are further enhancing our capabilities and consolidating our cost leadership through data-driven decision-making with digitalisation and implementing automation and green technologies.

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Supplier of Choice
Enduring relatinships.
Fortifying our customer

Over the years, we have built a product portfolio that is recognised for its superior quality. This is also backed by our service commitment resulting in enhanced customer loyalty. The feedback mechanism built in the system provides insights pertaining to customer needs, share knowledge on industry best practices, and emerge as value-adding partners in their journey.

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Robust People Practices
Nrturing potential.
Driving performance.

At Tata Metaliks, we believe a diverse, competent, and agile workforce is key to realising our aspirations. Our robust people practices are designed to promote a culture of collaboration, accountability and high performance along with our focus on learning enables us to attract and retain talent, and nurture future leaders. Further, we use digital platforms to provide seamless and enriching People experience.

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Responsible Corporate Citizenship
Remaining respnsible.
Widening impact.

In a world threatened by climate change, need of the hour is to reconcile environmental protection and economic growth. At Tata Metaliks, we focus on minimising our environmental footprint and conserving the natural resources that we transform and return as assets to society. We undertake several measures to mitigate environmental risks in the ecosystem we operate.

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Focus on Downstream/Value Add
Growing in scae. Enhancing
value proposition.

The potential of water infrastructure in India underpins our strategy to move up the value chain and expand our DI Pipe business. Our long-term growth strategy focuses on creating a leading play in the fast growing water infra sector of India, which calls for rapid capacity expansion in the downstream business of DI pipes. The first phase of our capacity expansion is nearing completion, which will help us offer an extended product range as well as increased volumes.

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Vales inbuilt.

Responsibility institutionalised.

Corporate Governance

Corporate Governance is an interplay between people, processes, performance and purpose. Our Values and the Tata Group ethos form the bedrock of our Corporate Governance architecture. It extends much beyond the principles of transparency, accountability and sustainability to openness, mutual respect, learning, and integrity. Our stakeholders are our partners in our journey, and we remain committed to addressing their expectations, concerns and aspirations.

Leadership commitment

Our Senior Leadership fosters an environment of ethical behaviour through its business priority pillar of ‘Responsible Corporate Citizenship’. This enables to create awareness regarding safety, quality, climate change, sustainability and business ethics through personal commitment, upholding highest levels of integrity and demonstrating the desired behaviour, involving direction setting, communication, role modelling, recognition of desired behaviour through R&R, among others. These aspects are promoted by putting in place policies, systems and governance structures which are reviewed in appropriate forums.

Compliance framework

The Board and Management remain committed to ensuring compliance with all applicable laws. Accordingly, compliance rightfully remains a material issue with the highest importance level. The Senior Leaders serve as pillars to the overall compliance framework and drive the compliance journey in their respective functional areas. The compliance framework is aided by the in-house digital compliance solution and managed by the compliance team. The function is headed by the Company Secretary and Compliance Officer


Ethical behaviour is a key element embedded across all functions and processes, which is key to improving customer perception fostering transparency, and enhancing employee motivation, involvement and interaction. We have deployed the Management of Business Ethics (MBE) framework that reflects our commitment to shared values and principles. The leadership team plays a crucial role to cascade ethical business practices in letter and spirit. The Ethics Counsellor (EC), along with the team of Locational Ethics Coordinators, are entrusted to drive the Ethics framework across the organisation. Our policy on business conduct demonstrates our commitment to embed strong governance, deliver transparency, avoid corruption, and manage risks.

Awards and Recognitions