Tata Steel reported a consolidated EBITDA of ₹8,309 crores for Q3 FY26, and ₹24,894 crores for the nine months ended December 31, 2025. India revenues reached ₹1,01,648 crores with an EBITDA of ₹24,431 crores. The company is focused on volume growth and downstream investments.
Financial Performance Highlights
Tata Steel’s consolidated revenues for the first nine months of the financial year reached ₹1,68,870 crores, with an EBITDA of ₹24,894 crores. Despite operating challenges, EBITDA improved by 31% year-over-year. For the quarter October – December 2025, revenues stood at ₹57,002 crores and EBITDA at ₹8,309 crores, reflecting a margin of approximately 15%.
India Business Performance
India’s revenues for the nine-month period were reported at ₹1,01,648 crores, with an impressive EBITDA of ₹24,431 crores, translating to an EBITDA margin of 24% and a 12% year-over-year improvement. Crude steel production in India increased by 12% year-over-year to 6.34 million tons, leading to record quarterly deliveries of 6.04 million tons, a 14% increase.
Europe Operations
Tata Steel Netherlands recorded revenues of €4,424 million and an EBITDA of €210 million, with EBITDA nearly tripling year-over-year. Tata Steel UK reported revenues of £1,509 million with an EBITDA loss of £170 million, although EBITDA improved by 44% year-over-year. Deliveries in the UK were 0.52 million tons.
Strategic Developments
Capital expenditure for the quarter amounted to ₹3,291 crores, bringing the total for the nine-month period to ₹10,370 crores. Net debt decreased by ₹5,206 crores quarter-over-quarter to ₹81,834 crores. In December 2025, the board affirmed a long-term growth strategy for the India business, prioritizing investments in volume growth, downstream portfolio, and sustainable steel-making technologies.
Expansion and Acquisitions
Tata Steel has consolidated its stake in Tata Steel Colors Pvt Ltd and completed the acquisition of a 50.01% stake in Thriveni Pellets Private Limited. Thriveni Pellets Private Limited holds a 100% equity stake in Brahmani River Pellets Private Limited.
Leadership Commentary
Mr. T V Narendran, Chief Executive Officer & Managing Director, noted the strong performance despite global challenges, highlighting increased production and deliveries in India, downstream strategy, and the importance of policy frameworks. Mr. Koushik Chatterjee, Executive Director and Chief Financial Officer, emphasized consistent performance, cost discipline, and focus on volume growth and raw material linkages.
Source: BSE
