Kolkata, Aug 6 (UNI) Tata Steel, India's first and largest private steel-maker, celebrating its centenary year, has become one of the Global 500 Companies.
Tata Steel was ranked 231 in the list of Global 500 Companies, according to Fortune magazine. In its website, the magazine ranked Tata Steel on the 231st spot. Earlier, the steel major was at 315.
Based on the consolidated nine months' financial results of Tata Steel, Fortune had ranked Tata Steel at 315th position.
However, the post-announcement of the annual results of the firm, which was after the deadline of the publication of listing the Global 500 Companies, Fortune in a clarification on its website mentioned that Tata Steel would have been placed at the 231st position on the list and not 315.
Tata Steel's revenue for fiscal year ended March 31, 2008 -- released by the company after the Global 500 publication deadline -- was USD 32.8 billion. Had the information been available, the company would have 231 on the list. The company ranked 315th in the listing, based on revenue for the four quarters ended Dec 31, 2007, of USD 25.7 billion.
This was the first time that the company has made an entry into the prestigious list of top 500 Companies of the World. Of all the companies featured in the list Global 500 companies, Tata Steel has registered the biggest increase in revenues with a percentage change of 353.2 per cent from 2006. Tata Steel has registered a revenue of USD 32.8 billion.
Tata Steel is the flagship company of Tata Group's 98 companies in seven business sectors.
Tata Steel, established in 1907 is Asia's first and India's largest integrated private sector steel producer is the world's sixth largest steel producer. With the recent acquisition of Corus, the combined enterprise has a total crude steel production capacity of around 30 million tonnes and over 82,000 employees across four continents. Tata Steel has operations in 27 countries and is the second most globally diversified steel group.
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