Tata Steel Ltd

About [ edit ]

Tata Steel is engaged in the presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products. 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 and wires.

  • Market Cap 141,503 Cr.
  • Current Price 1,182
  • High / Low 1,192 / 262
  • Stock P/E 17.6
  • Book Value 620
  • Dividend Yield 2.11 %
  • ROCE 13.1 %
  • ROE 11.1 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • 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 9.70% for last 3 years.

Peer comparison

Sector: Steel Industry: Steel - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
35,494 40,897 38,854 42,424 35,947 34,579 35,520 36,009 24,289 37,154 41,902 49,977
29,141 32,138 32,405 35,010 30,605 31,660 31,985 31,262 23,822 31,052 32,409 35,824
Operating Profit 6,353 8,760 6,449 7,414 5,342 2,919 3,535 4,747 467 6,102 9,493 14,154
OPM % 18% 21% 17% 17% 15% 8% 10% 13% 2% 16% 23% 28%
Other Income 82 659 503 599 373 332 -193 -2,395 266 378 228 -538
Interest 1,658 2,139 1,926 1,938 1,806 1,871 1,931 1,934 1,998 1,940 1,786 1,866
Depreciation 1,748 1,848 1,866 1,881 2,071 2,127 2,019 2,288 2,111 2,261 2,342 2,392
Profit before tax 3,030 5,433 3,160 4,194 1,838 -748 -607 -1,871 -3,377 2,278 5,593 9,357
Tax % 36% 43% 45% 45% 61% 542% -102% 14% -38% 27% 28% 23%
Net Profit 1,951 3,599 2,284 2,383 717 3,405 -1,085 -1,481 -4,417 1,565 3,697 6,644
EPS in Rs 17.32 31.95 20.28 21.15 6.37 30.23 -9.63 -13.15 -39.21 13.90 32.82 55.53

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
102,393 118,753 132,900 134,712 148,614 139,504 101,965 112,299 123,249 157,669 139,817 156,294
95,754 102,006 120,483 130,746 132,248 133,359 99,576 99,265 106,067 128,652 123,845 125,963
Operating Profit 6,639 16,747 12,417 3,965 16,365 6,145 2,389 13,034 17,182 29,017 15,972 30,331
OPM % 6% 14% 9% 3% 11% 4% 2% 12% 14% 18% 11% 19%
Other Income 1,378 3,726 4,935 1,445 535 3,258 7,332 -3,679 15,150 1,825 -1,392 353
Interest 3,494 3,956 4,250 3,968 4,337 4,848 4,221 5,072 5,455 7,660 7,533 7,607
Depreciation 4,492 4,415 4,517 5,575 5,841 5,944 5,306 5,673 5,742 7,342 8,441 9,234
Profit before tax 31 12,102 8,585 -4,133 6,722 -1,388 193 -1,391 21,135 15,841 -1,395 13,844
Tax % 6,941% 27% 42% -78% 45% -185% 358% -200% 16% 42% 184% 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
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
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:12%
Compounded Profit Growth
10 Years:-1%
5 Years:47%
3 Years:5%
TTM:417%
Stock Price CAGR
10 Years:8%
5 Years:30%
3 Years:25%
1 Year:333%
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 73,041
Borrowings 53,100 60,577 59,897 68,507 81,609 80,701 81,987 83,014 92,127 100,803 116,328 81,901
33,713 39,350 44,278 44,197 49,463 47,059 53,440 53,889 57,999 65,320 61,520 89,348
Total Liabilities 109,627 135,313 146,791 146,876 171,604 159,109 176,884 172,447 208,722 232,773 249,149 245,487
51,018 51,866 59,287 68,002 74,907 68,100 72,200 92,007 96,105 124,442 134,551 136,654
CWIP 9,319 13,552 20,196 14,277 26,822 28,678 35,996 15,784 16,614 18,641 19,497 18,129
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 80,023
Total Assets 109,627 135,313 146,791 146,876 171,604 159,109 176,884 172,447 208,722 232,773 249,149 245,487

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 -9,323
-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 -2,086

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
ROCE % 5% 15% 9% -1% 10% 1% 1% 7% 12% 14% 5% 13%
Debtor Days 41 46 41 38 39 35 43 38 37 27 21 22
Inventory Turnover 2.46 2.72 2.89 2.70 2.74 2.40 2.02 1.99 1.91 2.20 2.00 1.77

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
33.12 33.12 33.12 33.12 33.12 33.12 33.12 34.41 34.41 34.41 34.41 34.41
15.87 15.05 15.05 14.60 13.79 13.65 15.34 12.39 11.84 11.45 16.87 18.56
29.25 29.82 29.03 29.06 30.26 30.13 29.27 29.66 29.79 29.87 25.84 25.16
0.10 0.11 0.11 0.11 0.11 0.11 0.20 0.22 0.22 0.25 0.25 0.25
21.65 21.90 22.69 23.11 22.72 22.99 22.08 23.32 23.73 24.02 22.62 21.62

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