Tata Steel branded business to grow at 10% in FY'20

Kolkata: Tata Steel expects its branded steel sales to retail and MSME sector to grow by 10 per cent in the current fiscal, amid slowdown in the economy, officials said on Friday. The company's branded products, about 4.4 million tonne, are sold through distributors and dealers network.

Consumption is almost equally distributed among both retail and MSMEs.

"Our branded steel business is growing at 10 per cent even though the sector is expanding by only 5 per cent," Tata Steel chief marketing and sales (branded products) Sanjay S Sahni told PTI.

"We will finish the year with a 10 per cent growth in FY'20 and we expect similar growth in the next year also," he said.

He was speaking on the sidelines of Manufacturing & MSME Conclave, organised by The Bengal Chamber of Commerce.

Approximately 8,000 Tata Steel MSME customers consume 2.4 million tonne of steel per year.

Sahni said the total distributed (branded) steel business is worth Rs 20,000 crore and the company is continuously deepening product portfolio to suit customer demand.

"We will be adding three more products in the coated segment as the demand is rising," he said.

Sahni said the coronavirus scare should end by March. Tata Steel offers hosts of brands for retail and MSMEs. The company also offers a platform for finance and supply chain planning fort MSMEs.

(PTI)