Tata Steel Ltd
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]
- Market Cap ₹ 2,57,922 Cr.
- Current Price ₹ 207
- High / Low ₹ 216 / 134
- Stock P/E 16.4
- Book Value ₹ 107
- Dividend Yield 1.74 %
- ROCE 12.7 %
- ROE 10.9 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 30.3%
Cons
- Company has a low return on equity of 11.7% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Metals & Mining Ferrous Metals Iron & Steel
Part of BSE Sensex Nifty 50 BSE 500 BSE 100 BSE 200
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 41,711 | 41,785 | 38,269 | 47,993 | 59,617 | 70,611 | 60,436 | 84,133 | 129,021 | 142,913 | 140,933 | 132,517 | 135,671 | |
| 28,894 | 31,776 | 30,871 | 36,117 | 43,450 | 50,048 | 45,574 | 57,009 | 77,892 | 114,643 | 110,944 | 104,651 | 105,693 | |
| Operating Profit | 12,817 | 10,009 | 7,398 | 11,876 | 16,167 | 20,563 | 14,862 | 27,124 | 51,130 | 28,271 | 29,989 | 27,865 | 29,978 |
| OPM % | 31% | 24% | 19% | 25% | 27% | 29% | 25% | 32% | 40% | 20% | 21% | 21% | 22% |
| 646 | 2,474 | -1,044 | -289 | -2,991 | 2,291 | -1,299 | 1,496 | 1,217 | 1,750 | -375 | 1,345 | 1,010 | |
| Interest | 1,821 | 1,976 | 1,848 | 2,689 | 2,811 | 2,824 | 3,031 | 4,541 | 2,792 | 3,975 | 4,101 | 4,238 | 4,899 |
| Depreciation | 1,929 | 1,998 | 2,962 | 3,542 | 3,727 | 3,803 | 3,920 | 5,469 | 5,464 | 5,956 | 6,009 | 6,253 | 6,789 |
| Profit before tax | 9,714 | 8,509 | 1,543 | 5,357 | 6,638 | 16,227 | 6,611 | 18,610 | 44,091 | 20,090 | 19,505 | 18,719 | 19,300 |
| Tax % | 34% | 24% | 38% | 36% | 37% | 35% | -2% | 8% | 25% | 27% | 20% | 25% | |
| 6,412 | 6,439 | 956 | 3,445 | 4,170 | 10,533 | 6,744 | 17,078 | 33,011 | 14,685 | 15,662 | 13,970 | 14,575 | |
| EPS in Rs | 5.69 | 5.72 | 0.85 | 3.06 | 3.70 | 9.35 | 5.99 | 14.27 | 27.03 | 12.02 | 12.55 | 11.19 | 11.67 |
| Dividend Payout % | 15% | 12% | 81% | 28% | 27% | 14% | 17% | 18% | 19% | 30% | 29% | 32% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 17% |
| 3 Years: | 1% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 13% |
| 3 Years: | -24% |
| TTM: | 0% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 19% |
| 3 Years: | 24% |
| 1 Year: | 55% |
| Return on Equity | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 16% |
| 3 Years: | 12% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 971 | 971 | 971 | 971 | 1,146 | 1,146 | 1,146 | 1,199 | 1,222 | 1,222 | 1,249 | 1,249 | 1,249 |
| Reserves | 60,177 | 65,692 | 47,941 | 48,688 | 62,644 | 71,584 | 75,692 | 93,986 | 124,211 | 135,386 | 139,981 | 125,483 | 131,848 |
| 27,917 | 28,198 | 30,844 | 28,285 | 28,126 | 29,701 | 41,423 | 37,065 | 36,525 | 43,304 | 43,837 | 63,223 | 69,805 | |
| 21,975 | 21,001 | 25,359 | 33,522 | 33,199 | 35,067 | 32,132 | 48,240 | 60,028 | 62,782 | 62,860 | 64,177 | 62,368 | |
| Total Liabilities | 111,040 | 115,864 | 105,114 | 111,465 | 125,114 | 137,498 | 150,393 | 180,491 | 221,986 | 242,696 | 247,926 | 254,133 | 265,269 |
| 24,266 | 25,249 | 50,088 | 72,567 | 71,729 | 71,222 | 71,233 | 97,143 | 94,290 | 97,423 | 98,406 | 99,479 | 110,901 | |
| CWIP | 18,509 | 23,037 | 28,206 | 6,164 | 5,673 | 5,796 | 8,247 | 10,908 | 14,542 | 22,169 | 28,095 | 34,860 | 24,824 |
| Investments | 54,662 | 53,164 | 11,785 | 13,666 | 24,277 | 39,407 | 50,096 | 36,184 | 43,498 | 42,436 | 66,826 | 72,699 | 86,596 |
| 13,603 | 14,414 | 15,035 | 19,069 | 23,435 | 21,073 | 20,816 | 36,255 | 69,656 | 80,668 | 54,600 | 47,094 | 42,949 | |
| Total Assets | 111,040 | 115,864 | 105,114 | 111,465 | 125,114 | 137,498 | 150,393 | 180,491 | 221,986 | 242,696 | 247,926 | 254,133 | 265,269 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12,433 | 4,852 | 7,372 | 11,167 | 11,791 | 15,193 | 13,454 | 37,555 | 41,986 | 13,506 | 27,325 | 23,880 | |
| -9,837 | -2,382 | -4,352 | -3,956 | -12,273 | -16,350 | -17,635 | -13,665 | -34,168 | -14,794 | -15,702 | -34,606 | |
| -3,826 | -2,957 | -2,540 | -7,280 | 4,166 | -2,887 | 4,630 | -23,385 | -7,368 | -5,193 | -8,277 | 9,281 | |
| Net Cash Flow | -1,231 | -487 | 480 | -69 | 3,684 | -4,044 | 449 | 504 | 450 | -6,481 | 3,345 | -1,445 |
| Free Cash Flow | 3,044 | -1,021 | 2,626 | 7,961 | 9,277 | 11,535 | 8,877 | 35,325 | 35,830 | 4,470 | 16,670 | 13,549 |
| CFO/OP | 116% | 69% | 116% | 107% | 88% | 96% | 103% | 140% | 104% | 65% | 108% | 94% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 7 | 4 | 11 | 15 | 11 | 7 | 6 | 12 | 9 | 7 | 4 | 4 |
| Inventory Days | 222 | 252 | 242 | 310 | 223 | 195 | 213 | 191 | 194 | 140 | 154 | 154 |
| Days Payable | 305 | 182 | 210 | 325 | 227 | 190 | 210 | 199 | 205 | 112 | 126 | 139 |
| Cash Conversion Cycle | -77 | 74 | 43 | 1 | 7 | 12 | 8 | 4 | -2 | 35 | 32 | 20 |
| Working Capital Days | -93 | -55 | -106 | -70 | -63 | -35 | -93 | -45 | -72 | -44 | -50 | -69 |
| ROCE % | 13% | 9% | 6% | 11% | 15% | 19% | 10% | 18% | 32% | 14% | 14% | 13% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CO2 Emission Intensity - India (Standalone) tCO2/tcs |
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| Coke Rate - India (Standalone) kg/thm |
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| Consolidated Steel Deliveries million tons |
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| Lost Time Injury Frequency Rate (LTIFR) per million-man hours |
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| Specific Energy Consumption - India (Standalone) GJ/tcs |
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| Global Crude Steel Capacity MTPA |
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| Tata Steel India Deliveries million tons |
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| Tata Steel Netherlands (TSN) Deliveries million tons |
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| Tata Steel UK (TSUK) Deliveries million tons |
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| India Domestic Crude Steel Capacity MTPA |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Updates on Acquisition
2d - Tata Steel acquired remaining 0.01% stake in Tata Steel Colors on April 9, 2026, making it wholly owned.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
7 Apr - Tata Steel reported FY2026 best-ever India crude steel production of 23.48 mt and deliveries of 22.53 mt.
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Disclosure Under Regulations 30 And 51 Of The SEBI (LODR) Regulations, 2015
4 Apr - DMO issues ₹1,755 crore demand notice over alleged excess coal extraction at West Bokaro Colliery during FY2000-01 to FY2006-07.
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Announcement under Regulation 30 (LODR)-Change in Management
1 Apr - Tata Steel re-designates three VPs and appoints VP Operations—Downstream effective April 2, 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2016TranscriptAI SummaryPPT
Products and Brands
The company manufactures flat products like HR coils, CR coils, galvanised steel, and long products like wire rods, rebars, ferro alloys, tubes, bearings, wires, etc. [1]
Its products are sold under 20 brands, including Tata Astrum, Tata Tiscon, Galvano, Tata Steelium, Tata Structura, Tata Agrico, Tata Wiron, Tata Pravish, etc. [2]