Tata Steel Ltd(TATASTEEL)

NSE: TATASTEELBSE: 500470

₹ 167.25-3.21%refreshed 23 Oct, 03:58 pm ISTMarket cap: ₹ 2.09 L crNext results: 27 Oct 2026Website: www.tatasteel.comUpdated: 24 Oct 2026

About

Tata Steel is a diversified integrated steel producer with 35 MTPA of capacity across India, the Netherlands, the UK and Thailand as of FY25, plus captive iron ore and coal mines and downstream businesses. It reported FY26 revenue of Rs 232139.94 crore, with India its largest segment at 47.8% of revenue. Tata Steel UK is the largest steel producer in the UK.^[1][2][3]

Business segments

Tata Steel India: 47.8% of revenue in FY26 (Rs 139720.22 crore); share up 11.8 percentage points over FY2018-FY2026.^[3]
Tata Steel Netherlands Operations: 21.0% of revenue in FY26 (Rs 61354.84 crore).^[3]
Other Trade Related Operations: 13.5% of revenue in FY26 (Rs 39561.96 crore).^[3]
Tata Steel UK Operations: 8.0% of revenue in FY26 (Rs 23332.67 crore).^[3]
Other Indian Operations 4.4% and South East Asian Operations 2.9% of revenue in FY26.^[3]

Products and brands

Downstream businesses include wires, tubes, bearings, agricultural equipment, pig iron, ductile iron pipes and industrial by-products (FY25).^[1]
Tata Tiscon (rebars) volumes grew 33% YoY in Q1 FY27.^[4]
Tata Steelium (cold-rolled flat products) volumes grew 34% YoY in Q1 FY27, aided by the Kalinganagar cold rolling mill ramp-up.^[4]
Tata Astrum and Tata Steelium reached combined record sales of 3.8 MT in FY25, serving over 11,000 MSME customers.^[1]
Tubes, Wires, Colors and Tinplate all achieved best-ever annual deliveries in FY26.^[5]
Automotive & Special Products had best-ever quarterly and nine-month volumes in Q3 FY26; auto downstream mix exceeded 53% of 9M FY26 India sales.^[6]
Global Wires India is India's largest steel wire maker with 0.60 MTPA capacity (FY25); Kharagpur bearings capacity is ~40 million bearings a year.^[1]

Operations and capacity

India operations (Jamshedpur, Gamharia, Kalinganagar, Meramandali) had overall capacity of 26.6 MTPA as of FY25; Jamshedpur 11 MTPA, Meramandali 5.6 MTPA.^[1]
Kalinganagar Phase II raised steelmaking capacity from 3 MTPA to 8 MTPA; IJmuiden (Netherlands) has 7 MTPA; Thailand runs three scrap-based plants of 1.7 MTPA (FY25).^[1]
India crude steel production reached ~23.4 MT in FY26 (+8% YoY), a best-ever record, driven by Kalinganagar Phase 2 ramp-up.^[5]
0.75 MTPA scrap-based EAF at Ludhiana commissioned in March 2026 for ~Rs 3,200 crores, Tata Steel's first EAF in India.^[5]
NINL in Odisha has current capacity of 1.4 MTPA as of Q1 FY27.^[4]
Netherlands Direct Sheet Plant (~20% of Netherlands capacity) was shut from early April 2026 over chrome emission exceedances; trial restart approved for 5 August 2026.^[4]
Captive collieries in Jharia and West Bokaro and iron ore mines in Noamundi, Katamati, Joda East, Khondbond, Vijaya II and Koida, plus iron ore assets in Canada (FY25).^[1]
Nearly one-fourth of coal requirements come from captive coal mines (FY25).^[1]

Key operating numbers

India EBITDA per tonne rose from Rs 15,907/t in Q4 FY26 to Rs 19,162/t in Q1 FY27.^[4]
Consolidated EBITDA per tonne was Rs 12,898/t in Q1 FY27, up Rs 2,400/t YoY and Rs 1,490/t QoQ.^[4]
India deliveries were 5.17 MT in Q1 FY27 (+9% YoY); domestic deliveries 4.85 MT (+11% YoY); consolidated deliveries 7.27 MT.^[4]
Netherlands liquid steel production was 1.55 MT and UK deliveries 0.48 MT in Q1 FY27.^[4]
UK EBITDA loss narrowed from -£48M in Q4 FY26 to -£27M in Q1 FY27, the fourth straight quarter of improvement.^[4]
FY26 cost transformation savings totalled Rs 10,868 crores.^[5]

Customers and distribution

India distribution network covers 97% of India's districts as of Q1 FY27.^[4]
Tiscon had over 10,000 retail dealers across 8,500 pin codes in FY25 after adding 1,750 dealers.^[1]
Aashiyana and DigECA digital GMV was Rs 2,200 crores in Q1 FY27, up 61% YoY; FY26 digital GMV was Rs 8,495 crores, up 137% YoY.^[4]
Supply chain used nine ports, 28 stockyards and 35 steel processing centres in FY25.^[1]
Tubes business holds dominant share in infrastructure projects including the Mumbai-Ahmedabad Bullet Train corridor (Q3 FY26).^[6]
Netherlands operations faced ~€50 mn headwind in 9M FY26 from US tariffs.^[6]

Expansion and capex

NINL 4.8 MTPA long-products expansion approved for Rs 33,873 crores, taking the site to 6.2 MTPA; zero date 1 August 2026, commissioning targeted in 48 months.^[4]
Maharashtra greenfield revised to three 5 MTPA blast furnaces (~15 MTPA) on 3,000+ acres; no engineering started as of Q1 FY27.^[4]
Meramandali expansion from 5 MTPA to 6.5 MTPA planned within the next year; MKB mines iron ore capacity to expand by 15 MTPA in phases (Q1 FY27).^[4]
Jamshedpur tinplate expansion from 0.4 to 0.7 MTPA and HRPGL 0.74 MTPA line due within 30 months from Q1 FY27.^[4]
EAF plants planned in western and southern India, each 0.8-0.9 MTPA, ~Rs 3,000 crores per plant, buildable in ~2 years.^[4]
Tubes capacity targeted from 1.7 MTPA to 4 MTPA, with +0.42 MT planned in FY27.^[4]
UK EAF at Port Talbot costs £1.25bn including a UK grant of up to £500m, targeted for commissioning in FY2027-28.^[1]
FY27 consolidated capex guidance ~Rs 20,000 crores, more than 60% for India.^[5]

Recent developments

15 Oct 2026: received certified copy of the NCLT order of 1 Oct 2026 approving the amalgamation of subsidiary Rujuvalika Investments Limited into Tata Steel.^[7]
Q1 FY27: West Asia war added ~Rs 1,200 crores of unplanned consolidated energy, freight, insurance and logistics costs.^[4]
UK safeguard regime effective July 2026 cuts steel import quotas ~60% and raises tariffs from 25% to 50%.^[5]
Netherlands DRI-EAF Phase 1 final investment decision deferred as of Q1 FY27; non-binding JLoI with Dutch government signed September 2025.^[4]
NINL merger with Tata Steel targeted to complete by end of FY2027.^[4]
Q3 FY26: acquired 50.01% of Thriveni Pellets (BRPL) and BlueScope's remaining 50% of Tata BlueScope Steel, making it a subsidiary.^[6]

Market Cap

₹2,08,787 Cr

High / Low

₹224 / 160

Stock P/E

18.9

Price / Book

2.0

Book Value

₹82

EPS

₹8.7

No. of Shares

1,248.35 Cr

ROCE

12.6%

ROE

11.2%

OPM

10.2%

Debt / Equity

0.90

Sales

₹2,32,140 Cr

Net Profit

₹10,886 Cr

Promoter holding

32.9%

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Tata Steel Ltd(TATASTEEL)

About

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Products and brands

Operations and capacity

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

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