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Stock Analysis

Description

Tata Steel Limited, a leading integrated steel producer, is involved in mining, steel manufacturing, and distribution across the value chain.

Key Growth Triggers

The company's strategic moves include international investments through its subsidiary TSHP, acquisition of a 50% stake in Tata BlueScope Steel, and various domestic capacity expansions at NINL and Meramandali, reinforcing its India growth strategy.

Order Book

Currently no data available for Order Book.

Key Red Flags

Significant ongoing litigation concerning mining dues from Jajpur authorities, with two demand letters totaling ₹4,313.63 crore, posing a material contingent liability and financial risk.
Court-extended interim protection against coercive actions related to these mining dues remains a key factor to monitor.

Key Dates To Watch

January 19, 2026: Next hearing for the mining dues litigation at the Orissa High Court.

Corporate Announcements

1st Apr 26

Impact Rating: 6

Tata Steel Limited has announced changes in its Senior Management Personnel, effective April 2, 2026. Mr. Ashish Anupam, Mr. Peeyush Gupta, and Mr. Prabhat Kumar will be re-designated to new roles within the company.

30th Mar 26

Impact Rating: 7

Tata Steel Limited has finalized the purchase of all equity and preference shares in Medica TS Hospital Private Limited for ₹1.49 crore. This deal makes Medica TS Hospital a fully-owned subsidiary of Tata Steel.

25th Mar 26

Impact Rating: 8

Jharkhand High Court granted Tata Steel a stay on a ₹493.35 crore GST demand and ₹638.83 crore penalty, pausing proceedings until the April 15, 2026 hearing.

25th Mar 26

Impact Rating: -

No description available.

24th Mar 26

Impact Rating: 5

Tata Steel India will shut its trading window from March 25, 2026, due to financial results finalization. This measure prevents insider trading until results for the period ending March 31, 2026, are announced.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	JSW Steel	1191.90	47.64	291473.61	0.24	1646.00	166.16	45152.00	13.78	8.11	174496.00	15.02	6113.96	1623.00	3.50	1.65	1.22
2.	Tata Steel	188.20	15.02	234940.06	1.90	4060.13	21.78	34679.54	7.04	12.66	132853.19	22.39	15594.87	4360.32	1.78	5.80	0.52
3.	Jindal Steel	1042.00	29.49	106293.22	0.19	635.08	-25.86	11685.88	4.21	10.67	48914.16	19.49	3597.33	638.23	2.13	4.33	0.39
4.	Jindal Stain.	813.00	24.26	67025.27	0.38	807.92	29.87	10892.78	11.41	18.16	41205.54	11.88	2759.27	793.92	3.69	7.50	0.38
5.	S A I L	149.00	22.11	61544.83	1.06	418.72	-29.04	26704.17	8.22	6.76	106431.98	10.16	2783.77	636.64	1.07	1.90	0.58
6.	Sarda Energy	489.75	16.18	17257.92	0.31	327.77	65.39	1527.78	31.86	15.27	5718.87	30.92	1063.40	323.18	2.47	8.51	0.38
7.	NMDC Steel	41.96	–	12296.84	0.00	-114.78	80.72	3389.90	122.68	-12.97	11712.91	-2.83	-1320.39	-114.78	0.98	-8.21	0.41
–	Median: 12 Co.	138.68	22.39	14777.38	0.28	194.67	25.83	2458.84	7.63	10.29	8749.67	11.02	695.47	192.38	1.86	3.81	0.4

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	34,643	33,929	38,048	35,487	34,198	34,686	36,541	32,958	32,399	32,760	34,399	31,014	34,680
Expenses	29,977	28,793	29,393	28,779	27,292	26,392	28,462	26,182	25,790	25,260	27,420	23,895	26,531
Operating Profit	4,666	5,136	8,655	6,708	6,905	8,293	8,079	6,776	6,610	7,500	6,979	7,119	8,148
Other Income	795	717	-214	1,473	-12,171	336	-161	138	865	310	32	336	211
Profit before tax	3,023	3,233	5,842	5,677	-7,864	6,071	5,471	4,465	4,786	5,175	4,293	4,558	5,403
Tax %	27%	27%	29%	8%	8%	23%	25%	25%	25%	25%	26%	23%	25%
Net Profit	2,215	2,364	4,172	5,214	-8,491	4,699	4,091	3,331	3,591	3,879	3,169	3,523	4,060
EPS in Rs	1.81	1.93	3.41	4.27	-6.95	3.82	3.28	2.67	2.88	3.11	2.54	2.82	3.25

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	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
Sales	41,711	41,785	38,269	47,993	59,617	70,611	60,436	84,133	129,021	142,913	140,933	132,517	132,853
Expenses	28,894	31,776	30,871	36,117	43,450	50,048	45,518	57,009	77,892	114,643	110,944	104,651	103,106
Operating Profit	12,817	10,009	7,398	11,876	16,167	20,563	14,918	27,124	51,130	28,271	29,989	27,865	29,747
Other Income	646	2,474	-1,044	-289	-2,991	2,291	-1,356	1,496	1,217	1,750	-375	1,345	888
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	4,689
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	6,518
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	19,429
Net Profit	6,412	6,439	956	3,445	4,170	10,533	6,744	17,078	33,011	14,685	15,662	13,970	14,631
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	11.72
Dividend Payout %	15%	12%	81%	28%	27%	14%	17%	18%	19%	30%	29%	32%	–

Balance Sheet

Standalone figures in ₹ crores

	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
Borrowings	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
Other Liabilities	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
Fixed Assets	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
Gross Block	39,644	42,583	55,808	81,823	84,682	87,966	91,826	125,757	128,078	138,751	146,198	152,653	–
Accumulated Depreciation	15,378	17,335	5,720	9,256	12,952	16,744	20,592	28,614	33,788	41,328	47,793	53,173	–
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
Other Assets	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 ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	12,433	4,852	7,372	11,167	11,791	15,193	13,454	37,555	41,986	13,506	27,325	23,880
Cash from Investing Activity	-9,837	-2,382	-4,352	-3,956	-12,273	-16,350	-17,635	-13,665	-34,168	-14,794	-15,702	-34,606
Cash from Financing Activity	-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

Ratios

Standalone Figures in ₹ Crores / Yearly

	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	-32	-45	-72	-44	-50	-69
ROCE %	13%	9%	6%	11%	15%	19%	10%	18%	32%	14%	14%	13%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	33.90%	33.90%	33.90%	33.90%	33.70%	33.19%	33.19%	33.19%	33.19%	33.19%	33.19%	33.19%
FIIs	21.87%	20.62%	20.28%	20.31%	20.01%	19.61%	19.68%	19.25%	18.53%	18.29%	17.22%	17.29%
DIIs	19.62%	20.68%	20.96%	22.20%	23.15%	23.51%	23.33%	22.67%	23.52%	24.48%	26.07%	26.92%
Public	24.45%	24.63%	24.70%	23.43%	22.99%	23.52%	23.60%	24.69%	24.55%	23.84%	23.31%	22.42%