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Tata Steel Ltd

TATASTEEL NSE

Key Fundamentals

LargecapIron & SteelMetals & Mining
Market Cap
2.3L Cr
Volatility
Moderate
P/E Ratio
21.01
EBITDA
₹35,754 Cr
Return on Equity
10.49%
Debt to Equity
0.9
Book Value
₹80.66
EPS
₹1.6
52W High
₹224.4
52W Low
₹153.05

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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57 extracted metrics + investor summaries across FY08–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 25.4%

Weaknesses

2
  • The company has delivered a poor sales growth of 8.21% over past five years.
  • Company has a low return on equity of 7.44% over last 3 years.

Growth Rate

Revenue Growth
6.12% ↗
Net Income Growth
242.99% ↗
Cash Flow Change
51.55% ↗
ROE
202.31% ↗
ROCE
38.90% ↗
EBITDA Margin (Avg.)
25.59% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Tata Steel Ltd is India's largest steel producer with a consolidated capacity of ~26.6 MTPA following its ₹27,000 crore Kalinganagar Phase II expansion. The company trades at a P/E of 20.6x and P/B of 2.3x with a market cap of ₹2.31 lakh crore, while its consolidated net debt-to-equity rose to 0.90x in FY25 from 0.78x in FY24 as European operations continue to weigh on group profitability.

Bull Case 8
  • TTM profit growth of 147% signals a strong earnings recovery from the FY24 consolidated net loss of ₹4,910 crore to a FY25 net profit of ₹3,174 crore
  • Kalinganagar Phase II expansion (₹27,000 crore investment) takes India capacity from 21 MTPA to ~26.6 MTPA, providing significant volume growth runway
  • Consolidated EBITDA grew to ₹25,802 crore in FY25 from ₹23,402 crore in FY24, a 10% YoY improvement despite weak steel prices
  • India standalone operations remain highly profitable with PBT of ₹18,719 crore and standalone net debt-to-equity of only 0.44x in FY25
  • Cost optimization delivered ~₹6,600 crore in savings across geographies in FY25 (₹2,800 crore India, ₹2,600 crore UK, ₹1,150 crore Netherlands)
  • Healthy dividend payout of 25.4% with a current dividend yield of 2.15%, providing income support through cycles
  • 10-year compounded profit CAGR of 24% and stock price CAGR of 18% over 10 years demonstrate long-term value creation
  • India steel demand supported by infrastructure spending; company achieved record crude steel production of 20.8 MT in FY24 with further volume upside from new capacity
Bear Case 8
  • Consolidated net debt-to-equity worsened from 0.78x in FY24 to 0.90x in FY25, with total borrowings rising to ₹94,801 crore from ₹87,082 crore
  • UK operations reported EBITDA loss of £364 million in FY24 and continued losing £66 million per quarter in Q2 FY26, remaining a persistent drag on group earnings
  • Consolidated revenue declined from ₹2,29,171 crore in FY24 to ₹2,18,543 crore in FY25, reflecting weak global steel prices and a 3-year sales CAGR of negative 2%
  • 3-year average ROE of only 7.44% is low for a capital-intensive business, indicating sub-par return on shareholder funds over recent cycles
  • 5-year compounded sales growth of only 8% (5-year stock CAGR of just 5%) reflects the cyclicality and muted top-line expansion
  • P/E of 20.6x is elevated for a cyclical steel company, leaving limited margin of safety if earnings revert toward mid-cycle levels
  • Standalone net debt-to-equity jumped from 0.27x to 0.44x in one year due to the Kalinganagar capex, with benefits yet to fully flow through
  • Global trade uncertainty and tariff risks could pressure steel export realizations and demand from key markets

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Headwinds 2
  • ₹25K cr tax dispute restored Jul 25

    Bombay High Court restored Tata Steel's writ petition regarding a ₹25,185.51 crore loan waiver tax dispute, with hearing scheduled for August 19, 2026.

  • 90% output from older mines Jul 31

    Tata Steel disclosed that 90% of its iron ore production comes from legacy mines, highlighting structural reliance on aging assets for raw material supply.

Positives 1
  • Q1FY27 profit up 29% YoY Jul 30

    Tata Steel reported standalone net profit of ₹4,535.59 crore for Q1FY27, up 29% YoY. Board also approved ₹33,873 crore capex for NINL capacity expansion.

Neutral 4
  • JFSPL stake sold for ₹100 Aug 14

    Tata Steel divested its 100% stake in Jamshedpur Football and Sporting Private Limited to Churchill Brothers FC for ₹100, ensuring continuity for ISL players and coaches.

  • Amalgamation hearing Aug 24 Aug 11

    Tata Steel's scheme of amalgamation with Rujuvalika Investments Limited is scheduled for NCLT Mumbai Bench hearing on August 24, 2026.

  • Analyst meet at Emkay Confluence Aug 7

    Tata Steel announced an analyst and institutional investor meeting on August 12, 2026 in Mumbai as part of Emkay Confluence 2026.

  • Q1FY27 earnings call Jul 31 Jul 28

    Tata Steel scheduled its 1QFY27 earnings discussion for July 31, 2026, live-streamed via YouTube and Webex with investor Q&A.

TL;DR: Tata Steel delivered strong Q1FY27 results with 29% profit growth and committed significant capex (₹33,873 crore) for NINL expansion, signaling confidence in domestic steel demand. The key risk is a large ₹25,185 crore tax dispute now active before the Bombay High Court. Reliance on aging mines is a longer-term structural concern. Near-term momentum is positive, but the tax overhang warrants monitoring as hearings progress in August.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
59,490
55,682
55,312
58,687
54,771
53,905
53,648
56,218
53,178
58,689
57,002
63,270
60,794
Expenses
54,587
51,414
49,048
52,087
48,077
47,789
47,745
49,659
45,751
49,793
48,803
53,441
51,530
Operating Profit
4,903
4,268
6,264
6,601
6,694
6,116
5,903
6,559
7,428
8,897
8,200
9,829
9,264
OPM %
8%
8%
11%
11%
12%
11%
11%
12%
14%
15%
14%
16%
15%
Other Income
1,190
-6,568
-33
-382
-6
617
142
149
236
-6
465
42
-17
Interest
1,825
1,959
1,881
1,842
1,777
1,971
1,804
1,789
1,852
1,775
1,747
1,792
1,771
Depreciation
2,412
2,480
2,422
2,568
2,535
2,597
2,569
2,720
2,744
2,893
3,049
3,268
3,640
PBT
1,855
-6,739
1,928
1,809
2,377
2,164
1,672
2,200
3,067
4,222
3,869
4,810
3,838
Tax %
72%
-3%
73%
69%
61%
65%
82%
45%
35%
25%
29%
38%
38%
Net Profit
525
-6,511
522
555
919
759
295
1,201
2,007
3,183
2,730
2,965
2,385
EPS in Rs
0.52
-5.07
0.42
0.49
0.77
0.67
0.26
1.04
1.66
2.48
2.15
2.34
1.86
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,39,504
1,01,965
1,12,299
1,23,249
1,57,669
1,39,817
1,56,477
2,43,959
2,43,353
2,29,171
2,18,543
2,32,140
2,39,756
Expenses
1,36,095
1,02,590
99,156
1,01,816
1,28,351
1,22,354
1,25,973
1,80,469
2,11,053
2,06,923
1,93,244
1,97,788
2,03,567
Operating Profit
3,409
-625
13,144
21,433
29,318
17,463
30,504
63,490
32,300
22,248
25,298
34,352
36,189
OPM %
2.4%
-0.6%
12%
17%
19%
12%
19%
26%
13%
10%
12%
15%
15%
Other Income
5,994
10,346
-3,789
10,898
1,524
-2,884
180
1,300
1,569
-6,005
877
738
485
Interest
4,848
4,221
5,072
5,455
7,660
7,533
7,607
5,462
6,299
7,508
7,341
7,167
7,085
Depreciation
5,944
5,306
5,673
5,742
7,342
8,441
9,234
9,101
9,335
9,882
10,421
11,955
12,850
PBT
-1,388
193
-1,391
21,135
15,841
-1,395
13,844
50,227
18,235
-1,147
8,413
15,969
16,739
Tax %
185%
358%
200%
16%
42%
-184%
41%
17%
56%
328%
62%
32%
—
Net Profit
-3,939
-497
-4,169
17,743
9,122
1,174
8,190
41,749
8,075
-4,910
3,174
10,886
11,264
EPS in Rs
-3.48
-0.34
-3.76
11.93
9.07
1.38
6.26
32.88
7.17
-3.55
2.74
8.65
8.83
Div. Payout %
-20%
-203%
-23%
9%
15%
74%
40%
16%
50%
-101%
131%
46%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
971
970
970
1,145
1,145
1,145
1,198
1,221
1,221
1,247
1,247
1,247
Reserves
30,378
42,762
36,849
59,726
67,780
72,431
73,041
1,13,222
1,01,861
90,788
89,922
1,00,920
Borrowings
80,701
81,987
83,014
92,147
1,00,816
1,16,328
88,501
75,561
84,893
87,082
94,801
92,382
Other Liabilities
47,059
51,165
51,614
55,704
63,032
59,245
81,169
92,417
97,421
90,195
89,488
1,01,965
Total Liabilities
1,59,109
1,76,884
1,72,447
2,08,722
2,32,773
2,49,149
2,43,909
2,82,422
2,85,396
2,69,312
2,75,459
2,96,515
Fixed Assets
68,100
72,200
92,007
96,105
1,24,442
1,34,551
1,35,775
1,33,288
1,46,621
1,48,814
1,50,914
1,79,908
CWIP
28,678
35,996
15,784
16,614
18,641
19,497
19,007
22,046
31,213
34,356
41,622
28,497
Investments
3,455
10,714
12,457
17,899
5,738
6,285
10,682
13,140
8,410
6,258
6,194
7,089
Other Assets
58,876
57,974
52,200
78,103
83,952
88,816
78,445
1,13,948
99,151
79,885
76,728
81,021
Total Assets
1,59,109
1,76,884
1,72,447
2,08,722
2,32,773
2,49,149
2,43,909
2,82,422
2,85,396
2,69,312
2,75,459
2,96,515
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
11,880
11,455
10,824
8,023
25,336
20,169
44,327
44,381
21,683
20,301
23,138
35,064
Investing
-9,021
-8,794
-9,490
-11,730
-29,176
-14,012
-9,437
-10,905
-18,179
-14,253
-13,611
-14,397
Financing
-2,617
-4,729
-2,579
6,640
-673
-1,695
-37,090
-23,401
-6,981
-11,097
-7,002
-21,387
Net Cash Flow
241
-2,068
-1,245
2,933
-4,513
4,462
-2,200
10,075
-3,477
-5,049
2,524
-720
Free Cash Flow
-169
1,523
3,397
724
16,712
10,156
37,793
34,428
7,868
2,569
8,731
21,906
CFO/OP
420
-2,078
96
51
104
128
148
89
84
115
103
115
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
35
43
38
37
27
21
22
18
12
10
9
8
Inventory Days
165
180
230
224
190
197
215
213
175
176
171
184
Days Payable
126
167
172
161
130
136
167
161
122
108
113
136
Cash Conversion Cycle
74
56
96
99
87
82
69
71
66
78
67
56
Working Capital Days
-6
-47
-32
-31
-18
-38
-55
-34
-42
-59
-50
-56
ROCE %
1%
1%
6%
12%
14%
6%
12%
31%
13%
7%
9%
13%

Shareholding Pattern

As of Jun 2026
Promoters 32.94%
DIIs 26.62%
FIIs 19.37%
Public 17.85%
Others 3.19%
Government 0.01%
Total 99.98%
  Mar 2021Apr 2021May 2021Jun 2021Aug 2021Sep 2021Oct 2021Dec 2021Mar 2022Jun 2022Aug 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Nov 2023Dec 2023Jan 2024Feb 2024Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
34.41%
34.41%
34.41%
34.41%
34.41%
34.41%
34.41%
33.92%
33.92%
33.92%
0.00%
33.92%
33.90%
33.90%
33.90%
33.90%
33.70%
33.70%
33.46%
33.19%
33.19%
33.19%
33.19%
33.19%
33.19%
33.19%
33.19%
33.19%
33.19%
32.94%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
21.02%
0.00%
20.70%
0.00%
0.00%
20.28%
20.32%
19.95%
19.04%
18.78%
17.72%
17.78%
17.96%
19.05%
19.37%
DIIs
25.11%
25.11%
25.11%
19.11%
19.11%
18.18%
18.18%
18.04%
20.34%
18.91%
0.00%
16.82%
19.78%
20.83%
19.46%
22.35%
20.69%
23.30%
20.80%
21.02%
23.66%
23.52%
22.84%
23.70%
24.67%
26.25%
27.09%
27.16%
26.85%
26.62%
Government
0.25%
0.25%
0.25%
0.10%
0.10%
0.10%
0.10%
0.10%
0.10%
0.10%
0.00%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.03%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
16.24%
16.24%
16.24%
16.45%
16.45%
17.11%
17.11%
18.88%
17.56%
19.55%
0.00%
21.91%
20.33%
20.28%
20.32%
19.34%
19.68%
19.03%
19.81%
19.94%
19.54%
19.63%
20.66%
20.74%
20.05%
19.60%
18.69%
18.44%
17.73%
17.85%
Others
23.98%
23.98%
23.98%
29.94%
29.94%
30.20%
30.20%
29.06%
28.08%
27.52%
100.00%
27.34%
25.98%
24.97%
26.30%
3.37%
25.92%
3.27%
25.92%
25.82%
3.31%
3.33%
3.35%
3.33%
3.30%
3.23%
3.24%
3.23%
3.16%
3.19%
No. of Shareholders
9,07,481
8,73,198
8,73,198
10,22,480
10,21,770
12,30,370
12,30,370
16,95,220
16,25,080
20,47,660
25,90,410
33,71,420
33,35,260
35,94,140
36,92,750
38,04,730
39,80,310
39,92,610
42,78,660
43,43,100
47,17,440
52,69,350
59,87,140
61,59,780
60,25,710
58,23,940
55,05,580
53,59,970
52,21,340
51,79,580

Documents

Frequently Asked Questions about Tata Steel Ltd

What does Tata Steel Ltd do?
Tata Steel Ltd is Asia's first integrated private steel company setup in 1907.[1] The company has presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products.[2] The company has a target to increase dom...
Where is Tata Steel Ltd (TATASTEEL) listed?
Tata Steel Ltd is listed on the Indian stock exchanges. It is listed on NSE: TATASTEEL and BSE: 500470. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Tata Steel Ltd belong to?
Tata Steel Ltd operates in the Commodities sector within the Ferrous Metals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Tata Steel Ltd?
Tata Steel Ltd has a market capitalisation of approximately ₹233005.03 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Tata Steel Ltd?
The Price-to-Earnings (PE) ratio of Tata Steel Ltd is 21.01. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Tata Steel Ltd?
Over the past 52 weeks, Tata Steel Ltd has traded between a low of ₹153.05 and a high of ₹224.4. This range helps investors understand the stock's price volatility and recent trading levels.
Does Tata Steel Ltd pay dividends?
Yes, Tata Steel Ltd has a dividend yield of 2.15%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Tata Steel Ltd?
Tata Steel Ltd has a Return on Equity (ROE) of 10.49%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Tata Steel Ltd on Tapetide?
On Tapetide, you can view Tata Steel Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Tata Steel Ltd is Asia's first integrated private steel company setup in 1907.[1] The company has presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products.[2] The company has a target to increase domestic steelmaking capacity to 30 MnTPA by 2025.[3]

Website tatasteel.com
CEO Mr. Thachat Viswanath Narendran
Employees 1,15,788
Listed 1998-11-18
Face Value ₹ 1
Issued Size 12,48,35,27,171

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