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BUSINESS
Under TV Narendran's leadership, Tata Steel's revenue from operations climbed from Rs 1564.77 billion in FY2021 to Rs 2433.53 billion in FY2023.
TV Narendran is Tata Sons' 'Man for All Seasons' for the global steel business. A one-company man, he has been at the helm of Tata Steel since 2013. Narendran has been crucial to the transformation of the century-old legacy Tata business', mega acquisitons and ground-breaking rescue strategy during the Covid-19 pandemic.
Under TV Narendran's leadership, Rs 1.45 lakh crore market cap Tata Steel's revenue from operations climbed from Rs 1564.77 billion in FY2021 to Rs 2433.53 billion in FY2023. CEO TV Narendran was unsurprisingly the highest-paid employee at the company with a compensation of Rs 18.66 crore for the year ending March 31, 2023. This included fixed salary of Rs 5.16 crore and commission of Rs 13.5 crore.
58-year-old TV Narendran is one of the most reputed business leaders of the Ratan Tata-led steel-to-salt conglomerate. he is a mechanical engineer from the Regional Engineering College in Tiruchirappali, which is now a National Institute of Technology (NIT). Narendran is an alumnus of the Prestigious Indian Institute of Management (IIM) Kolkata.
Straight out of college, Narendran joined Tata Steel in 1988. He spend years working for one of the world's largest steel manufacturers in the Middle East. He was key to the Tata Tiscon brand's success. He was one of the youngest CEOs in the Tata Group when he was appointed as the global CEO of Tata Steel.
Narendran spearheaded the acquisition of steel business of Bhushan Steel and Usha Martin for a whopping Rs 40,000 crore. Due to his and CFO Koushik Chatterjee's efforts, Tata Steel was future-ready for the Covid-19 lockdown and ended the difficult quarter with Rs 1000 crore in free cash flow.