New Delhi: Tata Steel has reported consolidated EBITDA of Rs 34,848 crores and Profit after Tax of Rs 10,886 crores for the twelve months ended March 31, 2026.
Highlights:
▪ Consolidated Revenues for the financial year were Rs 2,32,140 crores and EBITDA was Rs 34,848 crores. EBITDA improved by 35% YoY despite the challenging operating environment.
o India1 revenues were Rs 1,40,302 crores and EBITDA was Rs 34,272 crores, which translates to an EBITDA margin of 24%. EBITDA improved by 17% YoY. Performance was aided by ‘best ever’ crude steel production of ~23.4 million tons and deliveries of ~22.5 million tons.
o Netherlands revenues were €6,028 million and EBITDA was €267 million. EBITDA had almost tripled on YoY basis.
o UK revenues were £1,978 million and EBITDA loss almost halved to £217 million.
▪ Consolidated Revenues for the Jan – Mar 2026 quarter were Rs 63,270 crores and EBITDA was Rs 9,953 crores with a margin of around 16%. EBITDA improved by 47% YoY.
o India1 revenues were Rs 38,654 crores and EBITDA was Rs 9,841 crores, which translates to a margin of 25%. Crude steel production was up 14% YoY to 6.22 million tons and led to ‘best ever quarterly’ deliveries of 6.19 million tons.
o Netherlands revenues were €1,605 million and EBITDA was €58 million. Liquid steel production was 1.63 million tons and deliveries were 1.70 million tons.
o UK revenues were £470 million and EBITDA loss stood at £48 million. Deliveries stood at 0.52 million tons and were impacted by subdued demand dynamics.
▪ The company has spent Rs 3,655 crores on capital expenditure during the quarter and Rs 14,026 crores for the full year. Net debt declined by ~Rs 2,285 crores YoY to Rs 80,144 crores.
▪ 0.75 MTPA scrap based Electric Arc Furnace at Ludhiana was commissioned in March 2026. Built with an investment of ~Rs 3,200 crores, the EAF has been designed to achieve <0.3 tCO2e per ton of crude steel.
▪ Pursuant to approval by the Board, Tata Steel Limited has executed definitive agreements for the acquisition of an additional 23% stake in TM International Logistics Limited, an entity providing logistics and supply chain support for transport of raw materials and finished goods to Tata Steel, for a consideration of Rs 335 crores. The transaction completion is subject to regulatory approvals. Tata Steel currently holds 51% stake in TMILL, prior to acquisition of this additional stake.
▪ Tata Steel Netherlands continues to be deeply engaged with the local regulatory bodies on addressing the issues related to the IJmuiden operating site. Based on the local Environment Agency’s measurements of exceedances of emissions of substances versus certain prescribed limits, TSN has received multiple notices alleging non-compliance and has paid more than €20 million of penalties in FY2026 in relation to the coke and gas plants.
Many of these penalties relate to exceedances where no technically and operationally feasible best practices are currently available globally to address the issue in a time frame acceptable to the Environment Agency given the design and vintage of these coke ovens (40 – 50 years old). The Environment Agency and the local Province have also on 23rd April issued a letter to Tata Steel Netherlands indicating their intention to revoke operating permits and trigger an early closure of the coke and gas plants. Tata Steel Netherlands has made a detailed assessment and shared with the Agency and the Province a timeline which is necessary to ensure a safe, responsible and controlled closure process. Tata Steel Netherlands is also exploring all options including legal recourse to ensure that the closure process is managed with due care and prudence. However, pending assurance on a feasible timeline, the financial statements of Tata Steel Netherlands have been prepared taking into account a material uncertainty to going concern in discussion with its auditors. Tata Steel Netherlands is also engaged with the regulators on evolving standards relating to classification and disposal of steel slag, where local requirements in Netherlands now not only exceed EU standards but are threatening to become infeasible.
▪ The Board of Directors recommends a dividend of Rs 4/- per ordinary (equity) share of face value of Rs 1/- each
