Tata Steel announced its financial results for the second quarter ended September 30, 2026, reporting a consolidated EBITDA of Rs 10,665 crores. This represents a 14% quarter-on-quarter and 17% year-on-year increase. Consolidated revenues for the quarter stood at Rs 65,436 crores. The company highlighted strong performance driven by India operations, with EBITDA improving significantly despite challenging operating environments.
Strong Quarterly Performance
Tata Steel has announced its financial results for the second quarter of fiscal year 2027, ending September 30, 2026. The company reported a consolidated EBITDA of Rs 10,665 crores for the quarter. This figure marks a substantial increase, reflecting a 14% growth compared to the previous quarter (QoQ) and a 17% growth year-on-year (YoY). The consolidated revenues for the quarter reached Rs 65,436 crores.
Key Financial Highlights
The financial highlights for the quarter ending September 30, 2026, include:
- Consolidated Revenues: Rs 65,436 crores
- Consolidated EBITDA: Rs 10,665 crores (margin of around 16%)
- India Revenues: Rs 42,653 crores with an EBITDA of Rs 10,634 crores (margin of 25%)
- India Crude Steel Production: Up 7% QoQ to 6.18 million tons
- India Deliveries: Up 16% QoQ to 5.98 million tons
Half-Year Performance
For the half-year ended September 30, 2026, Tata Steel reported consolidated revenues of Rs 1,26,231 crores and consolidated EBITDA of Rs 20,035 crores, representing a 21% YoY increase. India operations continued to be a strong contributor, with EBITDA for the half-year at Rs 79,641 crores and an EBITDA margin of 26%.
Capital Expenditure and Liquidity
The company incurred capital expenditure of approximately Rs 3,280 crores during the quarter and Rs 6,860 crores for the half-year. Tata Steel maintained strong liquidity with Rs 40,076 crores group liquidity, including cash and cash equivalents of approximately Rs 10,300 crores. The net debt stood at Rs 91,423 crores, with a net debt to EBITDA ratio of 2.4x.
Management Commentary
Mr. T V Narendran, CEO & Managing Director, commented on the strong growth in deliveries and earnings, attributing it to a resilient supply chain and customer engagement. He highlighted the strong performance of India operations and the Automotive & Special Products vertical. Mr. Koushik Chatterjee, Executive Director & Chief Financial Officer, noted the resilient performance in a volatile environment, driven by higher volumes in India and operational normalization in the Netherlands.
Source: BSE
