Tata Steel’s Board of Directors has approved the audited standalone and unaudited consolidated financial results for the quarter and half-year ended September 30, 2026. The company also announced the retirement of Mr. Noel Naval Tata as Non-Executive, Non-Independent Director and Vice Chairman, effective November 11, 2026. The financial results include a qualified opinion from the statutory auditors regarding uncertainties at a step-down subsidiary.
Financial Results and Key Appointments
The Board of Directors of Tata Steel Limited, at its meeting held on November 7, 2026, approved the Audited Standalone and Unaudited Consolidated Financial Results for the quarter and half-year ended September 30, 2026. The financial information is presented in accordance with the SEBI Listing Regulations, 2015.
Auditor’s Report and Qualified Opinion
The accompanying financial results are subject to a qualified opinion from the Statutory Auditors, Price Waterhouse & Co Chartered Accountants LLP. The qualification pertains to uncertainties at its step-down subsidiary, Tata Steel Nederland B.V. (TSN), relating to the non-recognition of probable material/substantive reduction in fair value of its investment. The auditors note that this matter is significant and impacts the carrying value of investments.
Retirement of Board Member
In line with Tata Group Governance Guidelines, Mr. Noel Naval Tata will retire as the Non-Executive, Non-Independent Director and Vice Chairman of the Board, effective close of business hours on November 11, 2026. Mr. Tata has been associated with the company since March 2022, providing valuable guidance. The Board expressed its deep appreciation for his contributions.
Key Financial Highlights (Standalone)
For the quarter ended September 30, 2026, Tata Steel reported a net profit of ₹5,053.64 crore, compared to ₹4,535.15 crore in the corresponding quarter of the previous year. Revenue from operations stood at ₹42,102.13 crore. For the half-year ended September 30, 2026, the net profit was ₹9,588.79 crore on a revenue of ₹80,491.11 crore.
Consolidated Financial Overview
On a consolidated basis, the company reported a net profit of ₹3,699.59 crore for the quarter ended September 30, 2026, against ₹2,385.24 crore in the prior year period. Consolidated revenue from operations was ₹65,436.24 crore. For the six months ended September 30, 2026, the consolidated net profit was ₹6,084.83 crore on revenue of ₹1,26,230.53 crore.
Other Disclosures
The financial results have been made available on the company’s website at www.tatasteel.com. Further details pertaining to the retirement of Mr. Noel Naval Tata are provided in Annexure B. The auditors’ reports on the standalone and consolidated financial results are also attached.
Source: BSE
