Weak demand and high debt could put severe pressure on Tata Steel. The company has started to conserve cash by deferring payment, squeezing expenses and curtailing capital expenditure.
The management of Tata Steel is left with limited options — the same old that they have been trying to execute for at least a decade — to turn around its sick European business. The CEO and managing director TV Narendran and executive director and CFO Koushik Chatterjee said in the integrated report 2020 that significant market headwinds, particularly in the last two quarters, and the disruptions caused due to the COVID-19 pandemic, have made the issue complex in Europe.
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