| | JUNE 20238Tata Steel has collaborated with Germany's SMS company to investigate the development of a low carbon steel manufacturing method. According to Tata Steel, as part of the MoU, both businesses will conduct further technical discussions and commence activities to conduct a joint industrial demonstration of SMS group's EASyMelt technology."The demonstration will be carried out at E Blast Furnace in Tata Steel's Jamshedpur plant with the goal of reducing CO2 emissions by more than 50 percent from blast furnace baseline operation", the company said.The EASyMelt (electric-assisted syngas smelter) technology is a low-carbon iron-making option that can be applied in existing integrated steel facilities."We actively seek solutions to facilitate the transition to green steel production, and thus contribute to a sustainable future", said T V Narendran, CEO & MD of Tata Steel. Furthermore, being the world's second largest steel producer, India places a great deal of responsibility on significant enterprises like Tata Steel to lead the country's decarbonization journey".Tata Steel plans to expand this relationship in order to have access to improved technology and procedures for reducing the carbon footprint in a meaningful and consistent manner, he said.Tata Steel prioritises decarbonization and aims to achieve net zero carbon emissions by 2045. Based on the company's most recent investor note, consumers spent more than Rs.29,000 crore on ITC's fast moving consumer goods (FMCG) excluding tobacco in fiscal 2022-23.Consumer spending on the Kolkata-based company's 25 mother brands increased by more than 20 percent in the previous fiscal year, when it was Rs 24,000 crore.During the pandemic, growth was substantially slower: 9 percent in FY22 and 11 percent in FY21.Consumer spend is the net sales turnover of the brands, plus channel margins and taxes ­ an indicator of business performance. The company's FMCG gross sales will be lower than the consumer expenditure. ITC's gross sales from non-cigarette FMCG were Rs.19,122.5 crore last fiscal year, up 19.5 percent from fiscal 2022.According to ITC, the FMCG business' Ebitda (earnings before interest, taxes, depreciation, and amortisation) increased 34.9 percent to Rs 1,953.97 crore in FY23, while the Ebitda margin rose to 10.2 percent from 9.1 percent in FY22, despite rising commodity and input prices. Premiumization, supply chain agility, prudent pricing measures, digital initiatives, strategic cost management, and fiscal incentives, particularly production-linked incentives, all contributed to margin improvement. TATA STEEL FORMS COLLABORATION WITH GERMANY'S SMS COMPANY TO EXPLORE POSSIBILITIES OF LOW CARBON STEEL MAKINGITC'S FMCG BUSINESS CLOCKS RS.29,000 CRORE REVENUE IN FY22IN FOCUSIN FOCUS
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