Tata Steel Ltd.

•

tatasteel.comBSE: 500470NSE: TATASTEEL

Market Cap₹ 2,35,376 Cr.

Current Price

High / Low₹ 224 / 160

Stock P/E13.8

Book Value₹ 141

Price to Book1.39

Dividend Yield2.12 %

ROCE11.6 %

ROE9.7 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Steel: 95.7% • Others: 3.2% • Power & Water: 1.1%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Latest quarter profit grew 28.7% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.81x)
Company has been maintaining a healthy dividend payout of 31.1%
Working capital cycle has improved - days down from -57 to -79
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Company has a low return on equity of 9.9% over last 3 years
Company has a low return on capital employed of 11.9%
Company has delivered a poor profit growth of -1.2% over past five years
Recurring exceptional / one-off items are inflating headline profit
Expensive relative to growth - PEG of 4.5

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT NIFTY50 VALUE 20

S.No.	Name
1.	JSWSTEEL	1310.35	12.93	320440.06	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	188.55	21.33	235375.56	2.12	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	186.25	18.01	76931.03	1.26	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2607.95	29.79	68795.28	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	782.80	19.87	64535.57	0.51	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2167.50	48.97	60182.46	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1073.35	26.68	29960.62	0.42	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	RATNAMANI	2862.55	46.35	20064.19	0.35	107.03	-15.82	971.63	-15.63	18.01	16.69
9.	JINDALSAW	311.85	30.52	19943.06	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
10.	SARDAEN	546.75	17.05	19266.45	0.37	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	253.20	21.14	17046.41	0.39	222.37	2.75	1750.47	32.29	20.20	19.36
12.	USHAMART	498.25	29.95	15183.77	0.75	142.04	40.90	1033.00	16.44	20.17	20.62

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	35,092	33,780	34,198	35,958	32,615	32,014	32,306	33,931	30,599	34,228	35,219	37,916	36,897
	28,779	27,292	26,392	28,462	26,182	25,790	25,260	27,420	23,895	26,531	27,847	28,975	31,276
Operating Profit	6,313	6,488	7,805	7,496	6,433	6,224	7,046	6,511	6,704	7,697	7,372	8,941	5,621
OPM %	17.99%	19.21%	22.82%	20.85%	19.72%	19.44%	21.81%	19.19%	21.91%	22.49%	20.93%	23.58%	15.23%
	1,473	-12,171	336	-161	138	865	310	32	336	211	431	89	783
Interest	1,020	1,116	1,038	926	925	1,133	1,080	1,101	1,271	1,237	1,290	1,318	1,357
Depreciation	1,484	1,482	1,519	1,522	1,524	1,556	1,556	1,618	1,627	1,718	1,826	1,897	2,205
Profit before Tax	5,677	-7,864	6,071	5,471	4,465	4,786	5,175	4,293	4,558	5,403	5,046	6,346	5,821
Tax %	8.15%	-7.97%	22.61%	25.22%	25.40%	24.97%	25.05%	26.18%	22.70%	24.86%	24.26%	26.57%	22.08%
Net Profit	5,214	-8,491	4,699	4,091	3,331	3,591	3,879	3,169	3,523	4,060	3,822	4,660	4,536
	4.18	-6.80	3.76	3.28	2.67	2.88	3.11	2.54	2.82	3.25	3.06	3.74	3.63

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	47,993	59,617	70,611	60,436	84,133	1,29,021	1,42,913	1,40,933	1,32,517	1,39,720	1,44,260
	36,191	43,958	50,049	45,577	57,009	77,892	1,14,709	1,10,969	1,04,734	1,07,398	1,14,629
Operating Profit	11,802	15,659	20,562	14,859	27,124	51,130	28,205	29,964	27,782	32,322	29,631
OPM %	24.59%	26.27%	29.12%	24.59%	32.24%	39.63%	19.74%	21.26%	20.97%	23.13%	20.54%
	-215	-2,483	2,292	-1,297	1,496	1,217	1,816	-349	1,428	1,216	1,514
Interest	2,689	2,811	2,824	3,031	4,541	2,792	3,975	4,101	4,238	5,117	5,203
Depreciation	3,542	3,727	3,803	3,920	5,469	5,464	5,956	6,009	6,253	7,069	7,647
Profit before Tax	5,357	6,638	16,227	6,611	18,610	44,091	20,090	19,505	18,719	21,353	22,616
Tax %	35.70%	37.19%	35.09%	-2.01%	8.23%	25.13%	26.90%	19.70%	25.37%	24.76%	24.49%
Net Profit	3,445	4,170	10,533	6,744	17,078	33,011	14,685	15,662	13,970	16,065	17,077
EPS	31.74	38.56	90.40	57.11	144.99	27.01	11.76	12.55	11.19	12.87	—
Dividend Payout %	28.20%	27.48%	14.14%	16.99%	17.55%	18.88%	29.96%	28.69%	32.17%	31.08%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 11%
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: 33%
5 Years:: -1%
3 Years:: 3%

STOCK PRICE CAGR

10 Years:: 18%
5 Years:: 5%
3 Years:: 13%
1 Year:: 10%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 14%
3 Years:: 10%
Last Year:: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	971	1,146	1,146	1,146	1,199	1,222	1,222	1,248	1,248	1,248
	48,688	60,369	69,309	73,417	93,189	1,24,211	1,35,360	1,39,981	1,25,483	1,34,285
	32,370	29,194	30,303	42,615	43,095	38,928	42,080	43,584	61,809	67,433
Trade Payables	10,717	11,243	10,970	10,601	13,426	21,091	20,356	20,164	20,601	25,111
	18,720	23,163	25,772	22,614	29,582	36,533	43,678	42,950	44,991	44,670
Total Liabilities	1,11,465	1,25,114	1,37,498	1,50,393	1,80,491	2,21,986	2,42,696	2,47,926	2,54,133	2,72,747
	72,567	71,729	71,222	71,233	97,143	94,290	97,423	98,406	99,479	1,15,892
Capital Work in Progress	6,125	5,642	5,686	8,070	10,499	14,159	21,654	27,563	34,189	19,220
	13,666	24,277	39,407	50,096	36,184	43,498	42,436	66,826	72,699	94,529
	10,237	11,023	11,255	10,717	12,858	19,943	25,420	24,656	22,934	23,059
	0	0	0	0	0	0	0	1,596	1,566	1,632
Cash & Bank	970	4,697	718	1,227	2,397	2,855	2,850	5,970	4,145	3,104
	7,900	7,747	9,210	9,049	21,410	47,241	52,913	22,911	19,121	15,312
Total Assets	1,11,465	1,25,114	1,37,498	1,50,393	1,80,491	2,21,986	2,42,696	2,47,926	2,54,133	2,72,747

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	12,708	14,294	19,726	15,272	37,927	53,226	18,514	27,325	23,506	31,961
Cash from Investing	-3,956	-12,273	-16,350	-17,635	-13,665	-34,168	-14,794	-15,702	-34,231	-25,663
Cash from Financing	-7,280	4,166	-2,887	4,630	-23,385	-7,368	-5,193	-8,277	9,281	-6,497
	-69	3,684	-4,044	449	504	450	-6,481	3,345	-1,445	-199

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
33.19	33.19	33.19	33.19	33.19	33.19	33.19	33.19	32.94
19.68	19.25	18.53	18.29	17.22	17.29	17.49	18.58	18.90
23.33	22.67	23.52	24.48	26.07	26.92	26.98	26.67	26.44
0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
22.98	24.01	24.06	23.35	22.83	21.92	21.68	20.90	21.05

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Tata Steel Limited has informed the Exchange about Intimation of Schedule of Analyst / Institutional Investor Meeting under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2026-08-31

Diversification/Disinvestment

2026-08-31 - Tata Steel Limited has informed the Exchange about divestment of entire stake held in Jamshedpur Football and Sporting Private Limited, wholly owned subsidiary

2026-08-27

Acquisition

2026-08-27 - Tata Steel Limited has informed the Exchange about acquisition of equity stake in T Steel Holdings Pte. Ltd

2026-08-27

Change in Management

2026-08-27 - Tata Steel Limited has informed the Exchange about Changes in Senior Management Personnel of Tata Steel Limited

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Tata Steel Limited has informed the Exchange about Schedule of meet

2026-08-26

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-26 - Tata Steel Limited has informed the Exchange about disclosure under Regulation 30 read with Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

2026-08-26

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-26 - Tata Steel Limited has informed the Exchange about disclosure under Regulations 30 and 51 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

2026-08-25

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-25 - Tata Steel Limited has informed the Exchange about disclosure under Regulation 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

2026-08-20

Acquisition

2026-08-20 - Tata Steel Limited has informed the Exchange about acquisition of equity stake in TM International Logistics Limited

News

Recent coverage and analyst commentary for TATASTEEL

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Free 5nance Account

Name

JSWSTEEL

1310.35

12.93

320440.06

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

188.55

21.33

235375.56

2.12

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

186.25

18.01

76931.03

1.26

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2607.95

29.79

68795.28

0.19

1047.88

200.11

4081.12

14.91

23.94

32.17

JSL

782.80

19.87

64535.57

0.51

768.66

7.56

11278.54

10.50

19.19

12.09

APLAPOLLO

2167.50

48.97

60182.46

0.39

263.11

10.94

5606.71

12.07

31.83

7.34

SHYAMMETL

1073.35

26.68

29960.62

0.42

3507.30

1106.63

54550.90

1133.35

13.88

14.03

RATNAMANI

2862.55

46.35

20064.19

0.35

107.03

-15.82

971.63

-15.63

18.01

16.69

JINDALSAW

311.85

30.52

19943.06

0.64

90.79

-78.15

4452.31

9.00

10.38

8.79

SARDAEN

546.75

17.05

19266.45

0.37

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

253.20

21.14

17046.41

0.39

222.37

2.75

1750.47

32.29

20.20

19.36

USHAMART

498.25

29.95

15183.77

0.75

142.04

40.90

1033.00

16.44

20.17

20.62

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

35,092

33,780

34,198

35,958

32,615

32,014

32,306

33,931

30,599

34,228

35,219

37,916

36,897

28,779

27,292

26,392

28,462

26,182

25,790

25,260

27,420

23,895

26,531

27,847

28,975

31,276

Operating Profit

6,313

6,488

7,805

7,496

6,433

6,224

7,046

6,511

6,704

7,697

7,372

8,941

5,621

OPM %

17.99%

19.21%

22.82%

20.85%

19.72%

19.44%

21.81%

19.19%

21.91%

22.49%

20.93%

23.58%

15.23%

1,473

-12,171

336

-161

138

865

310

336

211

431

783

Interest

1,020

1,116

1,038

926

925

1,133

1,080

1,101

1,271

1,237

1,290

1,318

1,357

Depreciation

1,484

1,482

1,519

1,522

1,524

1,556

1,618

1,627

1,718

1,826

1,897

2,205

Profit before Tax

5,677

-7,864

6,071

5,471

4,465

4,786

5,175

4,293

4,558

5,403

5,046

6,346

5,821

Tax %

8.15%

-7.97%

22.61%

25.22%

25.40%

24.97%

25.05%

26.18%

22.70%

24.86%

24.26%

26.57%

22.08%

Net Profit

5,214

-8,491

4,699

4,091

3,331

3,591

3,879

3,169

3,523

4,060

3,822

4,660

4,536

4.18

-6.80

3.76

3.28

2.67

2.88

3.11

2.54

2.82

3.25

3.06

3.74

3.63

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

47,993

59,617

70,611

60,436

84,133

1,29,021

1,42,913

1,40,933

1,32,517

1,39,720

1,44,260

36,191

43,958

50,049

45,577

57,009

77,892

1,14,709

1,10,969

1,04,734

1,07,398

1,14,629

Operating Profit

11,802

15,659

20,562

14,859

27,124

51,130

28,205

29,964

27,782

32,322

29,631

OPM %

24.59%

26.27%

29.12%

24.59%

32.24%

39.63%

19.74%

21.26%

20.97%

23.13%

20.54%

-215

-2,483

2,292

-1,297

1,496

1,217

1,816

-349

1,428

1,216

1,514

Interest

2,689

2,811

2,824

3,031

4,541

2,792

3,975

4,101

4,238

5,117

5,203

Depreciation

3,542

3,727

3,803

3,920

5,469

5,464

5,956

6,009

6,253

7,069

7,647

Profit before Tax

5,357

6,638

16,227

6,611

18,610

44,091

20,090

19,505

18,719

21,353

22,616

Tax %

35.70%

37.19%

35.09%

-2.01%

8.23%

25.13%

26.90%

19.70%

25.37%

24.76%

24.49%

Net Profit

3,445

4,170

10,533

6,744

17,078

33,011

14,685

15,662

13,970

16,065

17,077

EPS

31.74

38.56

90.40

57.11

144.99

27.01

11.76

12.55

11.19

12.87

—

Dividend Payout %

28.20%

27.48%

14.14%

16.99%

17.55%

18.88%

29.96%

28.69%

32.17%

31.08%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

971

1,146

1,199

1,222

1,248

48,688

60,369

69,309

73,417

93,189

1,24,211

1,35,360

1,39,981

1,25,483

1,34,285

32,370

29,194

30,303

42,615

43,095

38,928

42,080

43,584

61,809

67,433

Trade Payables

10,717

11,243

10,970

10,601

13,426

21,091

20,356

20,164

20,601

25,111

18,720

23,163

25,772

22,614

29,582

36,533

43,678

42,950

44,991

44,670

Total Liabilities

1,11,465

1,25,114

1,37,498

1,50,393

1,80,491

2,21,986

2,42,696

2,47,926

2,54,133

2,72,747

72,567

71,729

71,222

71,233

97,143

94,290

97,423

98,406

99,479

1,15,892

Capital Work in Progress

6,125

5,642

5,686

8,070

10,499

14,159

21,654

27,563

34,189

19,220

13,666

24,277

39,407

50,096

36,184

43,498

42,436

66,826

72,699

94,529

10,237

11,023

11,255

10,717

12,858

19,943

25,420

24,656

22,934

23,059

1,596

1,566

1,632

Cash & Bank

970

4,697

718

1,227

2,397

2,855

2,850

5,970

4,145

3,104

7,900

7,747

9,210

9,049

21,410

47,241

52,913

22,911

19,121

15,312

Total Assets

1,11,465

1,25,114

1,37,498

1,50,393

1,80,491

2,21,986

2,42,696

2,47,926

2,54,133

2,72,747

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

12,708

14,294

19,726

15,272

37,927

53,226

18,514

27,325

23,506

31,961

Cash from Investing

-3,956

-12,273

-16,350

-17,635

-13,665

-34,168

-14,794

-15,702

-34,231

-25,663

Cash from Financing

-7,280

4,166

-2,887

4,630

-23,385

-7,368

-5,193

-8,277

9,281

-6,497

-69

3,684

-4,044

449

504

450

-6,481

3,345

-1,445

-199

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

33.19

32.94

19.68

19.25

18.53

18.29

17.22

17.29

17.49

18.58

18.90

23.33

22.67

23.52

24.48

26.07

26.92

26.98

26.67

26.44

0.01

22.98

24.01

24.06

23.35

22.83

21.92

21.68

20.90

21.05

Tata Steel Ltd.

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Tata Steel Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI