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 ₹ 2,41,207 Cr.
- Current Price ₹ 193
- High / Low ₹ 216 / 124
- Stock P/E 24.6
- Book Value ₹ 76.1
- Dividend Yield 1.86 %
- ROCE 8.83 %
- ROE 3.89 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 26.8%
Cons
- Stock is trading at 2.54 times its book value
- The company has delivered a poor sales growth of 9.34% over past five years.
- Company has a low return on equity of 6.23% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 148,614 | 139,504 | 101,965 | 112,299 | 123,249 | 157,669 | 139,817 | 156,477 | 243,959 | 243,353 | 229,171 | 218,543 | 225,088 | |
| 132,430 | 136,095 | 102,590 | 99,156 | 101,816 | 128,351 | 122,354 | 125,973 | 180,469 | 211,053 | 206,923 | 193,244 | 194,005 | |
| Operating Profit | 16,184 | 3,409 | -625 | 13,144 | 21,433 | 29,318 | 17,463 | 30,504 | 63,490 | 32,300 | 22,248 | 25,298 | 31,083 |
| OPM % | 11% | 2% | -1% | 12% | 17% | 19% | 12% | 19% | 26% | 13% | 10% | 12% | 14% |
| 716 | 5,994 | 10,346 | -3,789 | 10,898 | 1,524 | -2,884 | 180 | 1,300 | 1,569 | -6,005 | 877 | 845 | |
| Interest | 4,337 | 4,848 | 4,221 | 5,072 | 5,455 | 7,660 | 7,533 | 7,607 | 5,462 | 6,299 | 7,508 | 7,341 | 7,163 |
| Depreciation | 5,841 | 5,944 | 5,306 | 5,673 | 5,742 | 7,342 | 8,441 | 9,234 | 9,101 | 9,335 | 9,882 | 10,421 | 11,406 |
| Profit before tax | 6,722 | -1,388 | 193 | -1,391 | 21,135 | 15,841 | -1,395 | 13,844 | 50,227 | 18,235 | -1,147 | 8,413 | 13,358 |
| Tax % | 45% | 185% | 358% | 200% | 16% | 42% | -184% | 41% | 17% | 56% | 328% | 62% | |
| 3,665 | -3,939 | -497 | -4,169 | 17,743 | 9,122 | 1,174 | 8,190 | 41,749 | 8,075 | -4,910 | 3,174 | 9,122 | |
| EPS in Rs | 3.19 | -3.48 | -0.34 | -3.76 | 11.93 | 9.07 | 1.38 | 6.26 | 32.88 | 7.17 | -3.55 | 2.74 | 7.33 |
| Dividend Payout % | 27% | -20% | -203% | -23% | 9% | 15% | 74% | 40% | 16% | 50% | -101% | 131% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 9% |
| 3 Years: | -4% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 77% |
| 3 Years: | -55% |
| TTM: | 222% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 19% |
| 3 Years: | 23% |
| 1 Year: | 25% |
| Return on Equity | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 14% |
| 3 Years: | 6% |
| Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 970 | 970 | 1,145 | 1,145 | 1,145 | 1,198 | 1,221 | 1,221 | 1,247 | 1,247 | 1,247 |
| Reserves | 39,561 | 30,378 | 42,762 | 36,849 | 59,726 | 67,780 | 72,431 | 73,041 | 113,222 | 101,861 | 90,788 | 89,922 | 93,700 |
| 81,629 | 80,701 | 81,987 | 83,014 | 92,147 | 100,816 | 116,328 | 88,501 | 75,561 | 84,893 | 87,082 | 94,801 | 95,643 | |
| 49,443 | 47,059 | 51,165 | 51,614 | 55,704 | 63,032 | 59,245 | 81,169 | 92,417 | 97,421 | 90,195 | 89,488 | 94,975 | |
| Total Liabilities | 171,604 | 159,109 | 176,884 | 172,447 | 208,722 | 232,773 | 249,149 | 243,909 | 282,422 | 285,396 | 269,312 | 275,459 | 285,565 |
| 74,907 | 68,100 | 72,200 | 92,007 | 96,105 | 124,442 | 134,551 | 135,775 | 133,288 | 146,621 | 148,814 | 150,914 | 166,095 | |
| CWIP | 26,822 | 28,678 | 35,996 | 15,784 | 16,614 | 18,641 | 19,497 | 19,007 | 22,046 | 31,213 | 34,356 | 41,622 | 33,152 |
| Investments | 5,093 | 3,455 | 10,714 | 12,457 | 17,899 | 5,738 | 6,285 | 10,682 | 13,140 | 8,410 | 6,258 | 6,194 | 6,903 |
| 64,781 | 58,876 | 57,974 | 52,200 | 78,103 | 83,952 | 88,816 | 78,445 | 113,948 | 99,151 | 79,885 | 76,728 | 79,415 | |
| Total Assets | 171,604 | 159,109 | 176,884 | 172,447 | 208,722 | 232,773 | 249,149 | 243,909 | 282,422 | 285,396 | 269,312 | 275,459 | 285,565 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 13,146 | 11,880 | 11,455 | 10,824 | 8,023 | 25,336 | 20,169 | 44,327 | 44,381 | 21,683 | 20,301 | 23,512 | |
| -15,378 | -9,021 | -8,794 | -9,490 | -11,730 | -29,176 | -14,012 | -9,437 | -10,905 | -18,179 | -14,253 | -13,985 | |
| 1,015 | -2,617 | -4,729 | -2,579 | 6,640 | -673 | -1,695 | -37,090 | -23,401 | -6,981 | -11,097 | -7,002 | |
| Net Cash Flow | -1,218 | 241 | -2,068 | -1,245 | 2,933 | -4,513 | 4,462 | -2,200 | 10,075 | -3,477 | -5,049 | 2,524 |
| Free Cash Flow | -2,980 | -169 | 1,523 | 3,397 | 724 | 16,712 | 10,156 | 37,793 | 34,428 | 7,868 | 2,569 | 9,105 |
| CFO/OP | 100% | 420% | -2,078% | 96% | 51% | 104% | 128% | 148% | 89% | 84% | 115% | 103% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 39 | 35 | 43 | 38 | 37 | 27 | 21 | 22 | 18 | 12 | 10 | 9 |
| Inventory Days | 156 | 165 | 180 | 230 | 224 | 190 | 197 | 215 | 213 | 175 | 176 | 171 |
| Days Payable | 133 | 126 | 167 | 172 | 161 | 130 | 136 | 167 | 161 | 122 | 108 | 113 |
| Cash Conversion Cycle | 62 | 74 | 56 | 96 | 99 | 87 | 82 | 69 | 71 | 66 | 78 | 67 |
| Working Capital Days | -43 | -6 | -47 | -32 | -31 | -18 | -38 | -55 | -34 | -42 | -59 | -50 |
| ROCE % | 10% | 1% | 1% | 6% | 12% | 14% | 6% | 12% | 31% | 13% | 7% | 9% |
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 ・Standalone data |
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| Coke Rate - India (Standalone) kg/thm ・Standalone data |
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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 ・Standalone data |
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| Global Crude Steel Capacity MTPA |
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| Tata Steel India Deliveries million tons ・Standalone data |
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| Tata Steel Netherlands (TSN) Deliveries million tons ・Standalone data |
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| Tata Steel UK (TSUK) Deliveries million tons ・Standalone data |
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| India Domestic Crude Steel Capacity MTPA ・Standalone data |
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Documents
Announcements
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Disclosure Under Regulation 30 Read With Regulation 51 Of The SEBI (LODR) Regulations, 2015
14h - Revisional Authority admitted Tata Steel appeals; stayed coercive action over ₹385.19 crore coal demand.
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Disclosure Under Regulations 30 And 51 Of SEBI (LODR) Regulations, 2015
25 Mar - High Court stayed GST proceedings; tax ₹493,35,47,131, penalty ₹638,82,62,185; next hearing April 15, 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
25 Mar - Newspaper Publication - Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015.
- Closure of Trading Window 24 Mar
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Announcement under Regulation 30 (LODR)-Acquisition
24 Mar - March 24, 2026: Tata Steel subscribed USD180m (~₹1,680.27 crore) equity in T Steel Holdings Pte. Ltd.
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 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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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]