Frontierby eninvs

Language: EN / RU

← Region

Tata Steel (TATASTEEL) INR

Tata Steel manufactures and distributes a wide range of steel products, including rebars, wire rods, hot-rolled and cold-rolled coils, coated steels, and construction systems, serving industries such as automotive, construction, and energy. The company operates in India and internationally, with a strategic collaboration on low-carbon zinc solutions.

At a glance: strengths & risks
✓Revenue growing (+15% y/y, Q1 2026)✓Profit growing (+12% y/y, Q1 2026)

Sector: Steel

IN_TATASTEEL

Price chart

175.5 INRDay 0.58%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
175.5 INR · 0.58%
Market cap
2190.9 bn INR

Growth

Δ revenue y/y
14.5%
Δ EBITDA y/y
24.7%

Multiples

P/E (LTM)
19.9x
3y avg: 30.3x
P/B (FY)
2.1x
P/E (ann.)
23.6x
EV/EBITDA (LTM)
8.2x
3y avg: 8.8x
EV/EBITDA (ann.)
8.0x

Cash return

Dividend yield
2.3%
FCF yield (LTM)
9.4%

Liquidity

Daily turnover (listing)
7.5 bln INR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B INR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB INROperating profitB INRD&AB INREBITDAB INRNet profitB INROperating CFB INRCapex + M&AB INRAssetsB INREquityB INRROE (annualized)Net debtB INRSource
2026-06-30Q2 2026 (3M)PARTIAL604.1
y/y 14.5%
56.2
y/y 20.1%
36.4
y/y 32.6%
92.6
y/y 24.7%
23.2
y/y 11.6%
———
y/y —
1037.8
y/y 13.6%
9.0%≈ 760.7Yahoo Finance
2026-03-31Q1 2026 (3M)OK626.9
y/y 15.0%
65.6
y/y 70.9%
32.7
y/y —
98.3
y/y —
29.3
y/y 124.9%
——3012.5
y/y 7.8%
1021.7
y/y 12.1%
10.9%760.7Yahoo Finance
2025-12-31Q4 2025 (3M)PARTIAL566.5
y/y 5.6%
51.5
y/y 54.5%
30.5
y/y —
82.0
y/y —
26.9
y/y 723.1%
———
y/y —
959.3
y/y 6.0%
3.8%≈ 828.5Yahoo Finance
2025-09-30Q3 2025 (3M)OK582.2
y/y 8.0%
60.0
y/y 69.4%
28.9
y/y —
89.0
y/y —
31.0
y/y 272.2%
——2855.7
y/y 1.7%
949.5
y/y 4.9%
13.3%828.5Yahoo Finance
2025-06-30Q2 2025 (3M)PARTIAL527.4
y/y -3.7%
46.8
y/y 12.6%
27.4
y/y —
74.3
y/y —
20.8
y/y 116.5%
———
y/y —
913.5
y/y -1.2%
9.1%≈ 793.6Yahoo Finance
2025-03-31Q1 2025 (3M)OK545.2
y/y —
38.4
y/y —
—
y/y 5.4%
—
y/y 13.6%
13.0
y/y —
——2793.9
y/y 2.2%
911.7
y/y -0.9%
3.8%793.6Yahoo Finance
2024-12-31Q4 2024 (3M)PARTIAL536.5
y/y -3.0%
33.3
y/y -13.2%
—
y/y —
—
y/y —
3.3
y/y -36.4%
———
y/y —
905.1
y/y -0.3%
0.5%≈ 572.1stockanalysis.com
2024-09-30Q3 2024 (3M)OK539.0
y/y -3.2%
35.4
y/y 98.2%
—
y/y —
—
y/y —
8.3
y/y —
——2808.4
y/y 3.3%
905.1
y/y -0.3%
3.6%572.1stockanalysis.com
2024-06-30Q2 2024 (3M)PARTIAL547.7
y/y —
41.6
y/y —
—
y/y —
—
y/y —
9.6
y/y —
———
y/y —
924.3
y/y —
4.2%≈ 744.9stockanalysis.com
2024-03-31FY 2024 (12M)OK—
y/y -5.9%
—
y/y -41.9%
—
y/y 5.9%
—
y/y -27.3%
—
y/y -150.7%
——2734.2
y/y -5.1%
920.4
y/y -10.7%
-4.9%744.9Yahoo Finance
2023-12-31Q4 2023 (3M)PARTIAL553.1
y/y —
38.4
y/y —
—
y/y —
—
y/y —
5.1
y/y —
———
y/y —
908.0
y/y —
0.8%≈ 372.6stockanalysis.com
2023-09-30Q3 2023 (3M)OK556.8
y/y —
17.9
y/y —
—
y/y —
—
y/y —
-62.0
y/y —
——2718.1
y/y —
908.0
y/y —
-25.6%372.6stockanalysis.com
2023-03-31FY 2023 (12M)OK2416.4
y/y —
213.1
y/y —
93.4
y/y —
306.5
y/y —
87.6
y/y —
216.8-141.42880.2
y/y —
1030.8
y/y —
—658.9Yahoo Finance

Revenue & EBITDA

RevenueEBITDA

Quarterly values (INR mln)

0200 000400 000600 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-25%0%25%50%75%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Net debt / cash (INR mln)

0200 000400 000600 000800 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 2.86x of reported net profit; after capex, 1.38x. Loss years (2024) are left out of the ratio.
year20222023202420252026
cash flow / profit1.10x2.48x—6.76x3.25x
accruals, % of assets—-4.5%-9.0%-7.1%-8.1%
net debt / EBITDA 2.2x · capex 1.4x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +6% vs -5% the year before — a +10.8 pp move. 3-year CAGR -2%.
revenue growth by year: 2024 -6% · 2025 -5% · 2026 +6%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Peer comparison

Group: Steel. Each peer is shown as it trades and re-priced onto this company's market (India) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
JSW SteelIndia31.310.7x10.7x
MMKRussia3.62.7x12.8x
NLMKRussia6.53.1x14.5x
Gerdauglobal10.06.8x16.4x
POSCO HoldingsKorea17.07.3x18.2x
SeverstalRussia8.67.0x32.6x
Steel Dynamicsglobal35.614.4x34.5x
Nucor Corporationglobal58.215.3x36.6x
RusalRussia5.210.5x48.9x
UsiminasBrazil1.626.4x71.6x
TMK (pipe)Russia1.016.1x75.4x
Cleveland-Cliffsglobal6.951.8x124.2x
Group median10.6x33.6x
Group average14.3x41.4x
This companyIndia23.08.2x8.2x

Group median 10.6x as traded, 33.6x adjusted; this company 8.2x — a 76% discount.

Group average 14.3x as traded, 41.4x adjusted; against the average this company is at a 80% discount.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 21.9x, Russia 4.0x, South Africa 5.1x, Kazakhstan 6.4x, India 18.7x, Indonesia 4.6x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-16; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-124 INREx-dividend: 4 INR per sharePaidYahoo Finance (ex-div)
2025-06-063.6 INREx-dividend: 3.6 INR per sharePaidYahoo Finance (ex-div)
2024-06-213.6 INREx-dividend: 3.6 INR per sharePaidYahoo Finance (ex-div)
2023-06-223.6 INREx-dividend: 3.6 INR per sharePaidYahoo Finance (ex-div)
2022-06-155.1 INREx-dividend: 5.1 INR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Tata Steel (TATASTEEL) — from primary filings.

Frequently asked questions

What is Tata Steel (TATASTEEL)'s P/E ratio?
Tata Steel (TATASTEEL) trades at a P/E of 19.9x (price to trailing 12-month earnings).
What is Tata Steel (TATASTEEL)'s EV/EBITDA?
Tata Steel (TATASTEEL) trades at 8.2x EV/EBITDA.
What is Tata Steel (TATASTEEL)'s P/B ratio?
Tata Steel (TATASTEEL) trades at a P/B of 2.1x.
What is Tata Steel (TATASTEEL)'s dividend yield?
Tata Steel (TATASTEEL)'s trailing 12-month dividend yield is 2.3%.
What is Tata Steel (TATASTEEL)'s return on equity (ROE)?
Tata Steel (TATASTEEL)'s ROE is 9.0%.
What is Tata Steel (TATASTEEL)'s market capitalization?
Tata Steel (TATASTEEL)'s market cap is 2190.9 bn INR.

See also: The Cheapest Metals & Mining Stocks (2026): Copper, Steel, Silver by Valuation · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map