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Tata Steel Limited (IN:TATASTEEL)
:TATASTEEL
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
2.9Last Year’s EPS
0.73Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated robust operational and financial recovery led by India: record quarterly deliveries, strong 9M EBITDA growth (+31% YoY), substantial cost-transformation savings (INR 8,600 crore in 9M), strong cash generation and a reduction in net debt with leverage at ~2.6x. Europe remains a mixed picture — Netherlands and U.K. show improvement versus prior periods and structural policy steps (CBAM and EU safeguards) are expected to support prices, but near-term headwinds persist from lower realizations, US tariffs, emissions costs and U.K. policy uncertainty. Management reiterated active CapEx and transformation plans (EAF in U.K., downstream ramp-ups, Hisarna pilot) and remains focused on calibrated capital allocation. On balance, positive momentum on profitability, cash flow and cost transformation outweighs the region-specific challenges and short-term realization pressures.Company Guidance
Strong 9M Consolidated EBITDA and Margin Expansion
Consolidated EBITDA for the 9 months ended Dec-31, 2025 rose 31% YoY to INR 24,894 crore (from INR 19,040 crore) and EBITDA margin expanded by ~300 bps from 12% to 15%, reflecting disciplined execution amid macro uncertainty.
Robust Quarter Financials and Cash Generation
Q3 consolidated revenue of ~INR 57,000 crore and EBITDA of INR 8,309 crore (15% margin). Operating cash flow before CapEx/dividends for 9M was ~INR 20,500 crore; Q3 operating cash flow >INR 10,300 crore and Q3 free cash flow ~INR 7,054 crore.
India: Record Volumes and High Margins
India crude steel production rose ~12% QoQ; quarterly deliveries in India crossed 6 million tonnes for the first time. India 9M EBITDA grew 12% YoY to INR 24,431 crore with ~24% EBITDA margin; Tata Tiscon recorded best-ever Q3 volumes and Tata Steelium grew 20% QoQ.
Industry-Leading Cost Transformation
Cost transformation program delivered INR 8,600 crore savings in 9M with ~93% compliance to internal plan. Program delivered >INR 3,000 crore improvement in the quarter and region-level benefits: India ~INR 890 crore, U.K. ~INR 570 crore, Netherlands ~INR 1,600 crore in Q3.
Net Debt Reduction and Healthy Leverage
Net debt fell to INR 81,834 crore, down ~INR 5,200 crore QoQ and ~INR 3,900 crore YoY; net debt-to-EBITDA at ~2.6x, within the stated target range (~3x mid-cycle).
Operational and Downstream Ramp-Ups
Key downstream assets ramping: Kalinganagar cold rolling mill and galvanizing lines, Combi-Mill in Jamshedpur, Ludhiana plant commissioning expected soon. Tubes business achieved best-ever quarterly volumes after 0.3 Mt capacity addition.
Europe: Material Improvement vs Prior Year and CBAM Tailwinds
U.K. losses narrowed by EUR 135m to a negative EUR 170m for the period; Netherlands 9M EBITDA nearly tripled to ~EUR 210m. CBAM definitive phase (Jan-1-2026) and expected EU safeguard revisions (June-2026) are likely to structurally improve EU competitive landscape and support prices.
Strategic M&A and Product Innovation
Consolidated stake in Color-Coated business completed; acquired 50.01% of Thriveni Pellets. Commissioned packaging steel line using trivalent chromium coating and introduced mobile bore pile cages; Aashiyana and DigECA GMV ~INR 2,380 crore (+68% YoY).
IN:TATASTEEL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
IN:TATASTEEL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 06, 2026 | ₹197.65 | ₹197.05 | -0.30% |
Nov 12, 2025 | ₹181.00 | ₹178.65 | -1.30% |
Jul 30, 2025 | ₹161.70 | ₹161.35 | -0.22% |
May 12, 2025 | ₹139.50 | ₹148.10 | +6.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Tata Steel Limited (IN:TATASTEEL) report earnings?
Tata Steel Limited (IN:TATASTEEL) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).
What is Tata Steel Limited (IN:TATASTEEL) earnings time?
Tata Steel Limited (IN:TATASTEEL) earnings time is at May 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Tata Steel Limited stock?
The P/E ratio of Tata Steel Limited is N/A.
What is IN:TATASTEEL EPS forecast?
IN:TATASTEEL EPS forecast for the fiscal quarter 2026 (Q4) is 2.9.