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 stood at ₹1,01,648 crores with an EBITDA of ₹24,431 crores. Crude steel production in India increased by 12% YoY to 6.34 million tons. Net debt declined by ₹5,206 crores QoQ to ₹81,834 crores.
Financial Performance Highlights
Tata Steel’s consolidated revenues for the first nine months of FY26 reached ₹1,68,870 crores, accompanied by an EBITDA of ₹24,894 crores, reflecting a 31% YoY increase despite challenging market conditions.
In India, revenues amounted to ₹1,01,648 crores with an EBITDA of ₹24,431 crores, translating to a 24% EBITDA margin and a 12% YoY improvement.
Tata Steel Netherlands reported revenues of €4,424 million and an EBITDA of €210 million, with EBITDA nearly tripling YoY. Tata Steel UK’s revenues were £1,509 million with an EBITDA loss of £170 million, although EBITDA improved by 44% YoY.
Q3 FY26 Performance
Consolidated revenues for Q3 FY26 were ₹57,002 crores, and EBITDA stood at ₹8,309 crores, yielding a margin of approximately 15%. This reflects a 39% YoY improvement in EBITDA.
India’s revenues for the same quarter were ₹35,725 crores, with an EBITDA of ₹8,291 crores, resulting in a 23% margin. Crude steel production increased by 12% YoY to 6.34 million tons, driving record quarterly deliveries of 6.04 million tons, a 14% YoY increase.
Tata Steel Netherlands recorded revenues of €1,354 million and an EBITDA of €55 million, while liquid steel production reached 1.68 million tons and deliveries totaled 1.40 million tons. UK revenues were £468 million, with an EBITDA loss of £63 million and deliveries of 0.52 million tons.
Capital Expenditure and Debt Reduction
The company invested ₹3,291 crores in capital expenditure during the quarter and ₹10,370 crores in the first nine months of FY26. Net debt was reduced by ₹5,206 crores QoQ, reaching ₹81,834 crores.
Strategic Investments and Growth Plans
The Board has affirmed the long-term growth strategy for the India business, prioritizing investments in volume growth, value-added downstream portfolio, identified mining assets and infrastructure, and low carbon & low capital intensity process technologies.
Stake Consolidation
Tata Steel has consolidated its stake in color-coated business, Tata Steel Colors Pvt Ltd, and completed the acquisition of 50.01% stake in Thriveni Pellets Private Limited.
Source: BSE
