Tata Steel Ltd

About

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]

Key Points

Product Portfolio
The company offers a broad range of steel products including a portfolio of high value added downstream products such as hot rolled, cold rolled, coated steel, rebars, wire rods, tubes, wires, etc.[1]

See full details
  • Market Cap 165,414 Cr.
  • Current Price 1,375
  • High / Low 1,535 / 390
  • Stock P/E 7.61
  • Book Value 611
  • Dividend Yield 1.82 %
  • ROCE 12.6 %
  • ROE 10.8 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 42.70%

Cons

  • The company has delivered a poor sales growth of 8.92% over past five years.
  • Company has a low return on equity of 9.62% for last 3 years.

Peer comparison

Sector: Steel Industry: Steel - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
40,897 38,854 42,424 35,947 34,579 35,520 36,009 25,475 37,154 41,902 49,977 53,372
32,096 32,202 34,969 30,570 31,501 31,963 31,210 24,935 31,043 32,334 35,793 37,261
Operating Profit 8,802 6,652 7,455 5,377 3,078 3,557 4,799 539 6,111 9,568 14,184 16,111
OPM % 22% 17% 18% 15% 9% 10% 13% 2% 16% 23% 28% 30%
Other Income 617 300 558 338 172 -215 -2,448 261 369 152 -569 102
Interest 2,139 1,926 1,938 1,806 1,871 1,931 1,934 2,006 1,940 1,786 1,866 1,811
Depreciation 1,848 1,866 1,881 2,071 2,127 2,019 2,288 2,175 2,261 2,342 2,392 2,325
Profit before tax 5,433 3,160 4,194 1,838 -748 -607 -1,871 -3,381 2,278 5,593 9,357 12,077
Tax % 43% 45% 45% 61% 542% -102% 14% -38% 27% 28% 23% 19%
Net Profit 3,599 2,284 2,383 717 3,405 -1,085 -1,481 -4,417 1,565 3,697 6,644 8,907
EPS in Rs 31.95 20.28 21.15 6.37 30.23 -9.63 -13.15 -39.21 13.90 32.82 55.53 74.08

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
102,393 118,753 132,900 134,712 148,614 139,504 101,965 112,299 123,249 157,669 148,972 156,294 182,406
95,754 105,312 120,483 130,746 132,430 136,095 102,590 99,156 101,816 128,351 131,144 125,790 136,432
Operating Profit 6,639 13,441 12,417 3,965 16,184 3,409 -625 13,144 21,433 29,318 17,828 30,504 45,974
OPM % 6% 11% 9% 3% 11% 2% -1% 12% 17% 19% 12% 20% 25%
Other Income 1,378 7,031 4,935 1,445 716 5,994 10,346 -3,789 10,898 1,524 -2,920 180 55
Interest 3,494 3,956 4,250 3,968 4,337 4,848 4,221 5,072 5,455 7,660 7,581 7,607 7,404
Depreciation 4,492 4,415 4,517 5,575 5,841 5,944 5,306 5,673 5,742 7,342 8,708 9,234 9,320
Profit before tax 31 12,102 8,585 -4,133 6,722 -1,388 193 -1,391 21,135 15,841 -1,380 13,844 29,305
Tax % 6,941% 27% 42% -78% 45% -185% 358% -200% 16% 42% 185% 41%
Net Profit -2,009 8,983 5,390 -7,058 3,595 -3,926 -383 -4,241 13,434 10,218 1,557 7,490 20,814
EPS in Rs -19.52 80.73 47.84 -62.65 31.91 -34.84 -3.40 -37.64 119.26 90.71 13.82 62.60 176.33
Dividend Payout % -35% 13% 22% -11% 27% -20% -203% -23% 9% 15% 74% 40%
Compounded Sales Growth
10 Years:3%
5 Years:9%
3 Years:8%
TTM:39%
Compounded Profit Growth
10 Years:-1%
5 Years:46%
3 Years:4%
TTM:3199%
Stock Price CAGR
10 Years:13%
5 Years:28%
3 Years:35%
1 Year:249%
Return on Equity
10 Years:4%
5 Years:8%
3 Years:10%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
887 959 994 993 991 971 970 970 1,165 1,158 1,145 1,198
Reserves 21,927 34,427 41,645 33,201 39,561 30,378 40,487 34,574 57,451 65,505 70,156 72,262
Borrowings 53,100 60,577 59,897 68,507 81,609 80,701 81,987 83,014 92,127 100,803 116,328 88,501
33,713 39,350 44,278 44,197 49,463 47,059 53,440 53,889 57,999 65,320 61,520 81,948
Total Liabilities 109,627 135,313 146,791 146,876 171,604 159,109 176,884 172,447 208,722 232,773 249,149 243,909
51,018 51,866 59,287 68,002 74,907 68,100 72,200 92,007 96,105 124,442 134,551 135,775
CWIP 9,319 13,552 20,196 14,277 26,822 28,678 35,996 15,784 16,614 18,641 19,497 19,007
Investments 5,418 7,847 4,021 3,258 5,093 3,455 10,714 12,457 17,899 5,738 6,285 10,682
43,872 62,048 63,286 61,340 64,781 58,876 57,974 52,200 78,103 83,952 88,816 78,445
Total Assets 109,627 135,313 146,791 146,876 171,604 159,109 176,884 172,447 208,722 232,773 249,149 243,909

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
10,502 5,655 12,018 14,035 13,146 11,880 11,455 10,824 8,023 25,336 20,169 44,327
-4,700 -7,584 -3,705 -13,099 -15,378 -9,021 -8,794 -9,490 -11,730 -29,176 -14,012 -9,437
-5,135 5,973 -8,462 -1,780 1,015 -2,617 -4,729 -2,579 6,640 -673 -1,695 -37,090
Net Cash Flow 667 4,045 -149 -844 -1,218 241 -2,068 -1,245 2,933 -4,513 4,462 -2,200

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 41 46 41 38 39 35 43 38 37 27 19 22
Inventory Days 152 165 142 145 156 165 180 230 224 190 178 213
Days Payable 180 117 124 117 133 126 167 172 161 130 123 166
Cash Conversion Cycle 14 93 59 67 62 74 56 96 99 87 75 69
Working Capital Days 25 40 32 35 29 33 15 29 26 29 19 -18
ROCE % 5% 15% 9% -1% 10% 1% 1% 7% 12% 14% 6% 13%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
33.12 33.12 33.12 33.12 33.12 34.41 34.41 34.41 34.41 34.41 34.41 34.41
15.05 14.60 13.79 13.65 15.34 12.39 11.84 11.45 16.87 18.56 21.94 22.38
29.03 29.06 30.26 30.13 29.27 29.66 29.79 29.87 25.84 25.16 19.28 18.28
0.11 0.11 0.11 0.11 0.20 0.22 0.22 0.25 0.25 0.25 0.10 0.10
22.69 23.11 22.72 22.99 22.08 23.32 23.73 24.02 22.62 21.62 24.27 24.83

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