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Informist, Friday, May 15, 2026

 

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--Tata Steel Jan-Mar consol net profit INR 29.26 bln 
--Analysts saw Tata Steel Jan-Mar consol net profit at INR 30.98 bln 
--Tata Steel Jan-Mar consol revenue INR 632.70 bln 
--Analysts saw Tata Steel Jan-Mar consol revenue at INR 619.06 bln 
--Tata Steel Jan-Mar consol net profit INR 29.23 bln vs INR 13.01 bln yr ago 
--Tata Steel Jan-Mar consol revenue INR 632.70 bln vs INR 562.18 bln yr ago 
--Tata Steel to pay INR 4 per share dividend 
--Tata Steel Jan-Mar net profit includes one-time cost INR 3.40 bln 
--Tata Steel final dividend record date Jun 12 
--Tata Steel Jan-Mar profit excluding exceptional items INR 32.66 bln 
--Tata Steel Jan-Mar consol tax outgo INR 18.45 bln vs INR 9.99 bln year ago 
--Tata Steel FY26 consol net profit INR 107.94 bln vs INR 34.21 bln yr ago 
--Tata Steel Jan-Mar consol operating EBITDA margin 15.73% vs 12.03% year ago 
--Tata Steel FY26 consol revenue INR 2.32 tln vs INR 2.19 tln yr ago 
--Tata Steel to buy INR 3.35 bln stake in JV TM International Logistics 
--Tata Steel Jan-Mar consol net profit INR 29.26 bln vs INR 13.01 bln yr ago 
--Tata Steel Q4 consol reported EBITDA INR 99.53 bln vs INR 67.62 bln yr ago 
--Tata Steel Q4 consol reported EBITDA per tn INR 11,410 vs INR 8,121 yr ago 
--Tata Steel Q4 consol adjusted EBITDA INR 99.46 bln vs INR 65.03 bln 
--Tata Steel Q4 consol adjusted EBITDA per tn INR 11,401 vs INR 7,810 yr ago 
--Tata Steel Q4 India adjusted EBITDA INR 98.33 bln vs INR 74.26 bln yr ago 
--Tata Steel Q4 India adjusted EBITDA per tn INR 15,894 vs INR 13,264 yr ago 
--Tata Steel: Target to reduce cost by INR 71.40 bln in FY27 
--Tata Steel Jan-Mar capex INR 36.55 bln; FY26 capex INR 140.26 bln 
--Tata Steel net debt at INR 801.44 bln on Mar 31, down INR 22.85 bln on yr 
--Tata Steel Q4 consol sales up 11% QoQ on high steel realisations in India 

 

By Astha Oriel 

 

NEW DELHI –  Tata Steel Ltd. Friday reported a sharp year-on-year rise in its consolidated bottom line for the March quarter on significant expansion of its operating margin. The net profit was, however, below analysts' consensus estimate because of a one-time cost. Without the exceptional item, the company's profit would have beaten the Street's estimate by a wide margin. Tata Steel's top line for Jan-Mar was the highest in 15 quarters, witnessing a moderate year-on-year rise and beating the average of analysts' estimates comfortably.

 

The company reported a rise of nearly 125% on year in its consolidated net profit to INR 29.26 billion. The net profit for the year-ago quarter was INR 13.01 billion. This is the fifth consecutive quarter of a year-on-year rise in the company's net profit. The company incurred a one-time cost of INR 3.40 billion. Without the one-time cost, the net profit would have been INR 32.66 billion, above the consensus estimate of INR 30.98 billion. The one-time cost includes an employee separation scheme in India and restructuring provision in the Netherlands partly offset by proceeds from the sale of a ferro alloy asset at Jajpur in Odisha, the company said in its investor presentation.

 

Tata Steel's revenue from operations for the quarter rose over 12% on year to INR 626.87 billion, higher than the consensus estimate of INR 619.06 billion. This was the third consecutive quarter of a year-on-year increase in the company's revenue from operations. Sequentially, the net profit grew nearly 9% and revenue nearly 11%.

 

The increase in revenue was driven by higher steel realisations in India and improved volumes in India and the Netherlands, the company said in the presentation. Its total income for the quarter rose over 12% on year to INR 635.19 billion. The other income, however, declined more than 46% on year to INR 2.49 billion.

 

The steel major's total expenses for the reporting quarter rose 8% on year to INR 585.02 billion. The cost of materials consumed accounted for nearly 34% of the total expenses. The company said raw material costs moved up primarily because of an increase in coking coal consumption cost in India and purchase of substrate in the UK. The company's employee benefits expense rose more than 11% on year to INR 66.98 billion. The expense related to purchases of stock-in-trade, however, declined more than 11% to INR 45.53 billion.

 

The company's other expenses grew over 9% on year to INR 205.72 billion in the March quarter "primarily on account of higher power & fuel, repairs & maintenance partly offset by decline in royalty related expenses", it said. However, the expenses pertaining to change in inventories of finished and semi-finished goods, stock-in-trade, and work-in-progress declined by more than 28% on year to INR 19.53 billion "driven by inventory drawdown at Netherlands as against a build-up in the March quarter", the company said.

 

The steel major's tax outgo for the March quarter increased nearly 85% on year to INR 18.45 billion.

 

In the March quarter, the company's consolidated steel production grew over 10% on year to 8.23 million tonnes. The consolidated deliveries grew to 8.72 million tonnes, against 8.33 million tonnes in the year-ago quarter. The consolidated earnings before interest, tax, depreciation, and amortisation grew over 47% on year to INR 99.53 billion. The consolidated EBITDA per tonne grew nearly 41% on year to INR 11,410. In the year-ago quarter, the consolidated EBITDA per tonne was INR 8,121.

 

The steel major's consolidated adjusted EBITDA for the March quarter was INR 99.46 billion, against INR 65.03 billion in the year-ago period. Its adjusted EBITDA per tonne grew nearly 46% on year to INR 11,401.

 

The company's consolidated operating EBITDA margin expanded to 15.73% in the March quarter from 12.03% in the year-ago period. For its India operations, the adjusted EBITDA increased by over 32% to INR 98.33 billion, against INR 74.26 billion in the year-ago period. The domestic operations adjusted EBITDA per tonne improved to INR 15,894 from INR 13,264 in the year-ago period.

 

The company's domestic steel production grew over 14% on year to 6.22 million tonnes, against 5.44 million tonnes in the year-ago period. The India operations deliveries for the March quarter were 6.19 million tonnes, against 5.60 million tonnes in the year-ago period.

 

In the Netherlands operations, liquid steel production was 1.63 million tonnes and deliveries were 1.70 million tonnes. The EBITDA per tonne of the Netherlands operations stood at INR 3,671, up sharply from INR 755 in the year-ago period.

 

At the UK operations, deliveries stood at 520,000 tonnes. The deliveries were hit by subdued demand dynamics, the company said in a press release. 

 

As on Mar. 31, the company's net debt had declined by INR 22.85 billion to INR 801.44 billion. The company has executed definitive agreements for the acquisition of additional 23% stake in TM International Logistics Ltd., an entity providing logistics and supply chain support for transport of raw materials and finished goods to Tata Steel, for a consideration of INR 3.35 billion, it said in its press release.

 

For the March quarter, the company's capital expenditure was INR 36.55 billion. For the financial year 2025-26 (Apr-Mar), the capital expenditure was INR 140.26 billion. The company's FY26 consolidated net profit rose over 215% to INR 107.94 billion, against INR 34.21 billion for FY25. The FY26 revenue rose more than 6% to INR 2.32 trillion.

 

The company's FY26 consolidated steel production was 31.67 million tonnes, up from 30.92 million tonnes in FY25. In FY27, it aims to reduce costs by INR 71.40 billion. The company has set Jun. 12 as the record date for the payment of a dividend of INR 4 per share for FY26.

 

Tata Steel announced its March quarter earnings after market hours Friday. Its shares closed at INR 216.84 on the National Stock Exchange, down nearly 2% from Thursday.  End

 

Edited by Rajeev Pai

 

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