Tata Steel topped the list of India's 50 most-admired companies in a survey compiled by Fortune India and global management consultancy Hay Group.
The list of admired companies was prepared on the basis of a survey of 507 executives across 291 companies. The survey was carried out between October 2011 and January 2012.
Various factors, including corporate governance, financial soundness, leadership, talent management and corporate social responsibility were taken into consideration for the rankings. To compile the list, 15 industries were selected on the basis of size, contribution to national GDP, growth rate and national presence, among others.
Mr H.M. Nerurkar, Managing Director, Tata Steel, said the company's primary business purpose was to improve people's quality of life. This was the standard that had guided Tata Steel in all its activities for over a hundred years, he said.
“We are consistent in our pursuit of improvements in key areas that impact our business — innovation, talent management and, most importantly, community development,” he said.
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel group of companiesis among the world's leading steel manufacturers, with an annual crude steel capacity of over 27 million tonnes a year.
It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel group registered a turnover of $26.64 billion in FY'11 and employs over 81,000 people across five continents.