About Tata Steel Ltd
Tata Steel Ltd (NSE: TATASTEEL) is one of India’s largest and oldest steel producers and a flagship company of the Tata Group. Founded in 1907, the company is headquartered in Mumbai and has major manufacturing operations in India, Europe, and Southeast Asia.
Tata Steel is a fully integrated steelmaker, producing a wide range of flat and long steel products used across sectors such as automotive, construction, infrastructure, engineering, and consumer goods. Known for its focus on sustainability, innovation, and operational efficiency, Tata Steel is also among the world’s leading steel companies by capacity and has a strong presence in both domestic and international markets.
Financial Performance Overview
For the first nine months of the financial year, consolidated revenues stood at Rs 1,68,870 crores, while EBITDA reached Rs 24,894 crores, reflecting a strong 31% year-on-year improvement despite a challenging operating environment.
Segment-wise Performance (9M FY)
India operations reported revenues of Rs 1,01,648 crores with an EBITDA of Rs 24,431 crores, delivering an EBITDA margin of 24% and a 12% YoY increase in EBITDA.
The Netherlands business generated revenues of €4,424 million and EBITDA of €210 million, with EBITDA nearly tripling YoY.
UK revenues were £1,509 million, with an EBITDA loss of £170 million, although EBITDA improved by 44% YoY.
Quarterly Performance (Oct–Dec 2025)
During the Oct–Dec 2025 quarter, consolidated revenues were Rs 57,002 crores and EBITDA was Rs 8,309 crores, translating into an EBITDA margin of around 15% and a 39% YoY improvement.
Operational Highlights by Geography (Q3)
India revenues reached Rs 35,725 crores with EBITDA of Rs 8,291 crores, achieving a margin of 23%. Crude steel production increased 12% YoY to 6.34 million tons, while deliveries rose 14% YoY to a best-ever quarterly level of 6.04 million tons.
The Netherlands reported revenues of €1,354 million and EBITDA of €55 million, with liquid steel production of 1.68 million tons and deliveries of 1.40 million tons.
The UK recorded revenues of £468 million and an EBITDA loss of £63 million, with deliveries of 0.52 million tons impacted by subdued demand and steady imports.
Capital Expenditure and Balance Sheet
The company incurred capital expenditure of Rs 3,291 crores during the quarter and Rs 10,370 crores over 9MFY26. Net debt declined by Rs 5,206 crores quarter-on-quarter to Rs 81,834 crores.
Strategic Initiatives and Investments
In December 2025, the Tata Steel Board reaffirmed its long-term growth strategy for the India business, focusing on volume growth, expansion of the value-added downstream portfolio, development of mining assets and infrastructure, and investment in low-carbon, low-capital-intensity steelmaking technologies.
M&A and Portfolio Actions
Aligned with its strategic priorities, Tata Steel consolidated its stake in Tata Steel Colors Pvt Ltd and completed the acquisition of a 50.01% stake in Thriveni Pellets Private Limited, which holds a 100% equity stake in Brahmani River Pellets Private Limited.