Page 10 - Tata Steel One Report 2024-Eng-Ebook HY

Business Operation and Performance Driving Business Towards Sustainability
Corporate Governance Policy Financial Statements Attachments
Thailand economy:
In 2024, Thailand's economy expanded by 2.5 %, up from 2.0% in 2023, largely due to expansion in services sector. The exports in several industries slightly improved, following a subdued recovery in global demand. Private consumption and service exports continued to grow, while public spending continued to expand in both current and capital expenditures. In 2024, headline inflation stood at 0.4%, while the core inflation was 0.6%. Whilst tourism revenue continued to increase with increase in tourist arrivals, there were headwinds in the form of increased steel exports from China, volatility of the Thai Baht, slowdown in Manufacturing.
Company performance highlights:
Based on the overall economic environment, the domestic demand for steel remained low, and coupled with increased Induction Furnace based steel competition in rebars, and low-priced wire rod imports, the deliveries in the domestic market during the year under review were adversely impacted. However, this was made up by a robust exports performance by the company. In this backdrop, the deliveries for the financial year 2024-25 was at 1,195 K Tons, as compared to 1,120 K Tons in the previous year. The revenue from sales for the financial
year 2024-25 was higher than the previous year reflecting from higher sales volume. The EBITDA for the financial year 2024-25 was at 426 Mn THB as against 172 Mn THB in the previous year. The Company has maintained effective control on Working Capital.
Over the years, your company has taken many initiatives to strengthen its competitive position. Many digital initiatives like One-Planning, One-Reporting for planning and financial reporting, to improve the business were launched during the year to enhance organizational agility.
As part of long-term sustainability, the company continues to undertake initiatives to reduce energy consumption, water consumption, improve air quality and waste disposal methods. The company follows Tata Group philosophy about care for community and as part of this, 100% of the company’s employees participated in at least one social program, as part of the company’s attention towards corporate social responsibility.
Over the years, the company has taken many continuous improvement initiatives, and along with the efforts and
8 Tata Steel (Thailand) Public Company Limited
Message of the Board of Directors
Dear Shareholders,
It is a privilege to write to you as the Chairman of the Board of Tata Steel (Thailand) Public Company Limited and to present to you the report for the financial year 2024-25.