Page 11 - Tata Steel One Report 2024-Eng-Ebook HY

Business Operation and Performance Driving Business Towards Sustainability Corporate Governance Policy Financial Statements Attachments
cooperation of the employees, numerous recognitions have been accorded. Whilst all the recognitions will be detailed in the Annual Report, the Board would like to specifically highlight the following:
• CGR score for FY2024 in the Excellent category received from The Thai Institute of Directors (IOD) in collaboration with the Stock Exchange of Thailand.
• ESG Ratings in Rank A for performance in Environment, Social, and Governance received from The Stock Exchange of Thailand.
FY 2025-26 outlook
The Thai economy is projected to expand by 2.9% in 2025. Tourism and domestic demand continue to be the main drivers. However, the economic recovery is estimated to remain uneven across sectors; whereas the recovery for SMEs and certain manufacturing industries is expected to face pressures from declining competitiveness. This results in uneven income recovery for households.
Developments in the automotive industry have been adversely affected by both price and demand factors.
Looking forward, major economies’ policies remain highly uncertain, so it is critical to monitor such developments which could affect merchandise exports and private investment for Thailand, going forward.
I would like to thank all the shareholders for their continued support and faith in the Company. I would also like to thank various government departments, customers, suppliers, bankers, and other stakeholders for their continued support. The employees, and the management team have worked hard under challenging business conditions, and I would like to thank them for their commitment to the Company.
I look forward to your continued and valuable support, going ahead.
Yours Sincerely,
Ashish Anupam
Chairman of the Board of Directors
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