Corporate Identity

Growth ready for a brighter tomorrow

Tata Metaliks Limited (TML), a subsidiary of Tata Steel, is one of India’s leading producers of superior quality Pig Iron (PI) and Ductile Iron Pipes (DIP). Combining customer-centricity with technical efficiency, we have retained our position of being the supplier of choice. We serve our customers with superior quality products and service offerings, setting industry benchmarks.

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Manufacturing Excellence

We have a state-of-the-art manufacturing plant at Kharagpur, West Bengal, India which produces the finest quality Pig Iron and Ductile Iron Pipes. With our highly mechanised and automated second DI pipe

Business Segments

Designed for delivering
excellence every day

Pig Iron (PI)

Pig Iron (PI) is an intermediate product of a commodity nature, used in foundries for the production of iron castings. Although PI customers’ purchase decisions are largely price-centric, we have, over the years, decommoditised the same by providing significantly higher value as compared to our peers.

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Business Segments

Ductile Iron Pipe

Ductile Iron Pipe (DIP) is an end product in the value chain, used for the transmission of potable water, wastewater and water for irrigation purposes. Durability, energy savings while in service, recyclability and high expected lifespan make DIP environmentally far superior product over other piping materials.

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Business Model

Sustained value for
shared prosperity

Financial Capital


` 1,579 crore

Net Worth

` (61.14) crore

Net Debt


` 3,260 crore



Return on Net Worth

` 211 crore




` 81 crore


` 2,370 crore

Market Capitalisation

Manufactured Capital



HM Capacity


DIP Capacity

29 MW

Captive Power Generation Rated Capacity

` 167 crore



5.62 Lt

HM Production

3 Lt

Finished DIP Production

24 MW

Captive Power Generated

Intellectual Capital



Robots deployed in production

` 2.87 crore

Capex on digital projects



Number of kaizens undertaken

` 89 crore

Savings from Improvement Projects

Human Capital



Employees on Roll

` 99 lakh

Investment in Employee Training and Development


Safety Training Sessions


Safety Visits (nos.)


Employee Training Hours






4.3 (on 5)

Training Effectiveness


Diversity % Women in workforce (permanent)

4.15 (on 5)

Employee Engagement Score

Natural Capital


Energy Intensity


18.49 GJ/THM


1.84 GJ/TFP

Water Consumption Intensity


1.41 m³/THM


1.49 m³/TFP

Inbound Raw Material

Iron Ore

929 KT


68 KT


333 KT


178 KT

Capex on Environment

`12 crore


Water Recycled/Day

2,550 m3/day

Materials Recycled back into process


Carbon Emission Intensity


1.86 t CO2e/THM


0.48 t CO2e/THM

Social and
Relationship Capital



Supplier Base

` 6.81 crore

CSR Contribution







Repeat Sales to Customers (PI)


Sales to key and Elite DIP Customers


CSR Outreach


Employee Volunteering Hours

Chairman’s Message

Dear Stakeholders,

I hope you and your families are safe and in good health. It gives me great pleasure to present you the 6th Integrated Report & 33rd Annual Accounts of your Company for the Financial Year ended March 31, 2023.

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Committed to Zero Harm

Our Safety and Health responsibilities are driven by our commitment to “Zero Harm” to the people we work with, and the community at large. Our robust Safety Management System framework and the Safety Governance structure, are key drivers in our Safety Excellence Journey

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Operating Context

Agility in Tapping Opportunities

We are committed to identifying and capitalising on emerging opportunities in the Water Infrastructure sector to maintain our growth trajectory. We remain focused on monitoring these opportunities, which are critical to our business and growth aspirations, to ensure that we stay agile in responding to changing market dynamics.

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Raw Material Scenario

Demonstrating resilience amidst challenging supply chain

During FY 2022-23, the prices of our key raw materials experienced significant volatility, primarily within the coking coal market. This was mainly due to frequent weather disruptions occurring in Eastern Australia, as well as notable shifts in trade flows following the Russian-Ukraine war

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Key Performance Indicators

Stable performance for a
stronger tomorrow

We are focused on generating profitable and sustainable growth to drive attractive and steady returns

We are steadfast on consistently enhancing our efficiency levels across our core operations to increase our output.

We are embedding our strong commitment to enhance recycling, increase water recycling and reduce carbon emissions across our operations.

We are investing in the future of our workforce and our communities.

We set clear governance standards, policies and procedures to ensure high levels of transparency and trust throughout our business.


Board Gender Diversity


Board Meeting attendance


Board Committee Meeting Attendance


Officers and Non- Officers covered for Ethics/POSH training sessions


Investor Complaints Resolved
(at the close of March 31, 2023)

Stakeholder Engagement

Stakeholder centricity
for greater good

At Tata Metaliks, we foster a stakeholder-centric approach to enhance business operations. Stakeholder engagement is a vital element to ensure our business remains sustainable to create long-term value.

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Building enduring relationships and brand loyalty

Engagement Platforms

  • Customer-specific operational Meetings
  • Customer meets and plant visits
  • Online webinars and training sessions
  • Tata eFee trials at customer sites to demonstrate energy efficiency
  • Technical support
  • Industry networks
  • Senior Leadership visits
  • Technical newsletters
  • Social media

Stakeholder Priorities

  • Innovative products with reliable quality
  • A range of choices in each product category
  • Environmentally friendly products
  • Value for money with timely delivery
  • Product knowledge and positive attitude of employees
  • Efficient after-sales service
  • Effective Management of complaints and offering satisfactory solutions


  • Committed to offering a range of innovative, high-quality products offering value for money
  • Introduction of value-added services
  • Enhance customer access convenience through Customer Relationship Management (CRM) platform
  • Digital transformation of the sales and operations to speed up customer service and add value
  • Well-trained technical and service teams who are committed to efficient after-sales service
  • Maintaining effective relationships

Creating a progressive work environment

Engagement Platforms

  • Regular engagement sessions
  • Team collaboration assignments
  • Talent development and strategic planning sessions
  • Projects for Cross Functional Team (CFTs)
  • Reward & Recognition framework
  • Reverse mentoring
  • Action Learning Projects

Stakeholder Priorities

  • Positive and energetic work environment
  • Competitive compensation
  • Job satisfaction and motivation
  • Training and personal development
  • Health and Safety at work
  • Employee welfare


  • Reinforce corporate culture towards highlighting care and concern for employees
  • Provide financial and nonfinancial benefits
  • Substantial training exposure, talent Management and retention programmes
  • Reward & Recognition schemes at all levels

Ensuring sustainable returns through dividend and wealth appreciation

Engagement Platforms

  • Investor Meets/Analyst conference calls
  • Quarterly Reports and correspondence
  • Annual General Meeting

Stakeholder Priorities

  • Sustainable returns
  • Growth in profits
  • Dividend growth
  • Ethical corporate conduct and good governance
  • Robust Risk Management practices
  • Agility to adapt to macroeconomic changes


  • Committed to sustaining robust business growth over the long term
  • Sustainable and a robust dividend policy
  • Implement strategic and operational plans that can support growth targets
  • Maintaining transparency and good governance including sound Risk Management strategies
  • Communicate material information timely and accurately to Shareholders

Contributing to the communities that we serve

Engagement Platforms

  • Employee Volunteerism
  • Collaboration with Tata Strive and various NGOs
  • Periodic cultural meets like ‘Regional Samvaad’
  • Regular interactions and workshops
  • Communication and engagement campaigns

Stakeholder Priorities

  • Employment creation and economic growth
  • Socially responsible corporate citizenship
  • Good community relations in all areas of operation
  • Environmental responsibility


  • Creating direct and indirect job opportunities and economic growth
  • Impact-led CSR initiatives are undertaken to serve the communities we operate in
  • Committed to protect the environment and substantial investments in environmental protection projects

Fostering mutually beneficial relationships

Engagement Platforms

  • Supplier reviews, audits and dialogues
  • Vendor/Supplier meets
  • Engagement calendar with key suppliers
  • Structured supplier visits for evaluation, knowledge sharing and feedback

Stakeholder Priorities

  • On time payments
  • Fair price and transparent transactions
  • Long-lasting relationship


  • Deepen knowledge sharing
  • Meeting obligations timely
  • Maintaining effective relationship

Ensuring compliance, interpretation of regulations and responsible conduct

Engagement Platforms

  • Regular issue-specific Meetings
  • Structured stakeholder engagement plan
  • Meetings with multiple local authorities

Stakeholder Priorities

  • Compliance with all relevant Laws, Rules, Regulations and Guidelines
  • Paying Duties, Taxes and Levies promptly
  • Transparency and regular communication
  • Create employment opportunities and enhance economic prospects


  • Adherence to Government rules and regulations and timely payment of taxes and duties
  • Direct and indirect job opportunities
  • Ensure environmental preservation


Prioritising responses for Material matters

We identify and recognise material topics based on a systematic analysis of numerous issues and concerns highlighted by our internal and external Stakeholders. Systematic identification of material ESG topics guarantees that relevant material topics for our business and Stakeholders are addressed.

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Risk Management

Prudent approach to managing uncertainties

In today’s rapidly evolving world, it is crucial for organisations to take a proactive approach to identifying and managing various risks they encounter or may encounter. Traditional risks as well as emerging risks, pose significant challenges to businesses. Therefore, it is imperative for organisations to stay vigilant and adapt to these risks to ensure their long-term success

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Integrated planning to accelerate Growth

Innovate and Excel

Relentless innovation for a sustainable future

Priority Areas

  • Benchmarking, TPM at shopfloor, Ideation platform and Knowledge Management
  • Process improvement through flagship initiative Shikhar and recently launched Integrated Improvement Programme, aiding EBITDA
  • Digital transformation to ensure agility and differentiation

SDGs Impacted

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Cost Leadership

Improved Efficiencies for Economies of Scale

Priority Areas

  • Operational excellence
  • Strategic raw material sourcing
  • Optimising fuel and resource efficiency
  • Digitalisation and automation

SDGs Impacted

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Supplier of Choice

Fostering Relationships for Delivering Delight

Priority Areas

  • Create and sustain mutually rewarding relationship with customers through differentiated products and services
  • Ensure deeper customer engagement and enhanced customer experience
  • leveraging digital and analytics solutions

SDGs Impacted

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Robust People

Nurturing Diverse Talent to Accelerate Progress

Priority Areas

  • Talent Management and capability development
  • Improve employee productivity.
  • Enhance workforce engagement and satisfaction
  • Leverage digitalisation across HR processes to improve employee experience

SDGs Impacted

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Corporate Citizenship

Impactful Interventions for Enriching Lives

Priority Areas

  • Environmental Sustainability:
    • Reduce Carbon footprint
    • Improve air quality
    • Reduce specific water consumption
  • Expanding community outreach through CSR activities

SDGs Impacted

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Focus on
/ Value-add

Enhancing our Scale and Scope

Priority Areas

  • Capacity expansion for DIP to over 4 LTPA
  • Extend domestic footprint
  • Enhance presence in different geographies

SDGs Impacted

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Our Governance Practices

We are unwavering in our commitment to upholding the highest standards of governance, which allows us to earn and maintain the trust and confidence of our Stakeholders. In every aspect of our operations, we strongly emphasise ethical conduct, ensuring transparency and accountability throughout our organisation.


Recognised for Excellence

Winner under the listed medium category at the ‘Corporate Governance Recognition 2022’ organised by Bengal Chamber of Commerce and Industry

Recognised with a score of B in Climate Change Disclosure and A- in Supplier Engagement Rating

CII - CAP (Climate Action Program) 2.0 Oriented Category Award for Energy, Mining and Heavy Manufacturing Sector