TV Narendran, CEO and MD, Tata Steel
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The strong demand, higher steel prices and liquidation of low-cost inventory helped Tata Steel post one of its best quarterly numbers in the March quarter. However, the ongoing West Asia war and global turbulence has pushed up costs and cast uncertainty on domestic demand. TV Narendran, CEO and MD and Koushik Chatterjee, Executive Director and Chief Financial Officer, spoke to businessline on the way forward. Edited Excerpts:
Do you expect raw material prices to go up due to the West Asia war?
Narendran: We are expecting cost to go up 10-15 per cent in the June quarter compared to March quarter. Coking coal cost will go up over $10 to $15 per tonne in India and Europe. Costs of other inputs such as propane and limestone have also gone up in India. We have been able to pass on the costs, but it depends on how long the war lasts. So far, we have been able to recover most of the cost increases from the market.
