Minerva Capital Research Solutions

Tata Steel

NSE: TATASTEELBSE: 500470
Compare with peers
₹ 169.27▼ 2.15 (−1.25%)28 Oct, 03:28 pm IST
Market cap
₹ 2,08,786 Cr.
P/E
17.9x
P/B
2.1x
52-week range
160.06 – 224.4
ROE
12%
ROCE
13%
Dividend yield
2.3%
Debt / equity
0.9
Sector
Ferrous Metals
Industry
Iron & Steel
Listed on
NSE, BSE

About

Tata Steel Limited is an India-based global steel company. The Company and its subsidiaries have presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products. The Company offers a range of steel products including a portfolio of high value-added downstream products such as hot rolled, cold rolled, coated steel, rebars, wire rods, tubes and wires. Its segments include Tata Steel India, Neelachal Ispat Nigam Limited, Other Indian Operations, Tata Steel Netherlands Operations, Tata Steel UK Operations, Other Trade Related Operations, South East Asian Operations and Rest of the World. It serves customers across diverse markets including construction and infrastructure, construction retail, automotive and ancillaries, energy, engineering goods, packaging, and downstream. Its products include Automotive Steels, Galvano, Tata Agrico (Agriculture, Construction, and Hand Tools), Tata Astrum and others.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Iron & Steel: 15 companies →

Tata Steel against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)17.9 against a typical 14.3: pricier than most peers (1st = cheapest).11th of 15
  • Sales growth+14.3% against a typical +16.3% from a year earlier.8th of 14
  • Profit growth+18.8% against a typical +25.7% from a year earlier.9th of 12
  • Share price, 3 months−9.6% against a typical −9.3%.9th of 15
  • Size₹ 2,08,785.6 Cr. market value against a typical ₹ 8,906.7 Cr. (1st = largest).2nd of 14

Latest announcements

Exchange filings and their impact on the company.

  • 15 Oct 2026Amalgamation/MergerLow impactPositivePrice −0.5% on 16 Oct
    NCLT approved merger of dormant wholly-owned Rujuvalika into Tata Steel with no new shares and only ~0.09% accretion.

    Tata Steel received on October 15, 2026 the certified NCLT Mumbai order dated October 1, 2026 sanctioning amalgamation of its wholly-owned subsidiary Rujuvalika Investments Limited into itself with appointed date April 1, 2023. No new shares or cash will be issued; Rujuvalika shares and its ~1.17 crore Tata Steel shares will be cancelled and its NBFC licence surrendered. The move simplifies the group and saves administration and compliance costs, with negligible financial impact given Rujuvalika has no active operations.

    Filing
  • 7 Oct 2026Press ReleaseLow impactNeutralPrice −2.1% on 8 Oct
    Q2FY27 provisional volumes update with no disclosed figures implies steady operations.

    Tata Steel filed a press release on October 7, 2026 titled Tata Steel: 2QFY2027 Production and Delivery Volumes (Provisional). The extracted filing contains only the cover letter and title with no production or delivery figures disclosed. The update therefore confirms routine quarterly disclosure with no quantifiable change to the near-term outlook.

    Filing

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

High safety

Rated AA+ by CARE
AA+
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
CARECARE AA+Stable8 Jul 2026
India RatingsWithdrawnStable3 Dec 2025
Credit rating actions
RatingDetails
8 Jul 2026
Reaffirmed
CARE AA+—CARE₹ 46,495 Cr.
3 Dec 2025
Withdrawn
was IND AAA—India Ratings₹ 88,964.77 Cr.
15 Sep 2025
Withdrawn
was CARE AA+—CARE₹ 46,495 Cr.

Board meetings

Results dates and other board meetings. Full calendar

Details
7 Nov 2026UpcomingFinancial Results/Other business mattersTATASTEEL : 07-Nov-2026 : The Company has informed the Exchange that a Board meeting to be held on October 27, 2026 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on November 07, 2026, to consider and approve the financial results for the period ended September 30, 2026, and other business matters.
27 Oct 2026Financial Results/Other business mattersTo consider and take on record the audited Standalone and unaudited Consolidated financial results of the Company for the quarter and half year ended September 30, 2026.
30 Jul 2026Financial Results/Other business mattersTo consider and take on record the audited Standalone and unaudited Consolidated financial results of the Company for the quarter ended June 30, 2026
15 May 2026Financial Results/Dividend/Other business mattersTo consider and approve the financial results for the period ended March 31, 2026, dividend and other business matters
6 Feb 2026Financial Results/Other business mattersTo consider and approve the financial results for the period ended December 31, 2025 and other business matters
12 Nov 2025Financial Results/Other business mattersTo consider and approve the financial results for the period ended September 30, 2025 and other business matters
30 Jul 2025Financial Results/Other business mattersTo consider and take on record the audited Standalone and unaudited Consolidated financial results of the Company for the quarter ended June 30, 2025

Share price

1Y change −4.18%
0 of 2 filing days came with a big price move
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales55,68255,31258,68754,77153,90553,64856,21853,17858,68957,00263,27060,794
Expenses51,41449,04852,08748,07747,78947,74549,65945,75149,79348,80353,44151,530
Operating Profit4,2686,2646,6016,6946,1165,9036,5597,4288,8978,2009,8299,264
OPM %8%11%11%12%11%11%12%14%15%14%16%15%
Other Income−6,568−33−382−6617142149236−646542−17
Interest1,9591,8811,8421,7771,9711,8041,7891,8521,7751,7471,7921,771
Depreciation2,4802,4222,5682,5352,5972,5692,7202,7442,8933,0493,2683,640
Profit before tax−6,7391,9281,8092,3772,1641,6722,2003,0674,2223,8694,8103,838
Tax %−3%73%69%61%65%82%45%35%25%29%38%38%
Net Profit−6,5115225559197592951,2012,0073,1832,7302,9652,385
EPS in Rs−5.070.420.490.770.670.261.041.662.482.152.341.86

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
9%
5 Years
8%
3 Years
−2%
TTM
11%
Compounded Profit Growth
10 Years
24%
5 Years
8%
3 Years
10%
TTM
147%
Stock Price CAGR
10 Years
17%
5 Years
6%
3 Years
16%
TTM
—
Return on Equity
10 Years
12%
5 Years
14%
3 Years
7%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
32.94%
−0.25 pts in a year
FIIs
18.9%
+1.68 pts in a year
DIIs
26.44%
+0.37 pts in a year
Government
0.18%
0 pts in a year
Public
21.52%
−1.79 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 17.9xEPS (12 months) ₹ 9.48Median P/E 10.4x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Tata Steel₹ 169.27₹ 2,08,786 Cr.17.9x2.1x12%—
JSW Steel₹ 1,187.00₹ 2,90,275 Cr.41.6x3x—14.8%
Lloyds Metals And Energy₹ 1,780.40₹ 1,00,195 Cr.27.8x7.6x36.2%22.4%
Jindal Steel₹ 1,012.00₹ 1,04,634 Cr.25.9x2.1x6.9%6.3%
Jindal Stainless₹ 684.00₹ 56,394 Cr.18.8x3.1x17.5%7.4%
Welspun Corp₹ 2,402.00₹ 63,363 Cr.25.9x4.6x19.4%9.7%

Management

Thachat Viswanath Narendran
Chief Executive Officer, Managing Director, Executive Director
Koushik Chatterjee
Chief Financial Officer, Executive Director
Parvatheesam Kanchinadham
Company Secretary and Chief Legal Officer, Compliance Officer

Prices are delayed and for information only. Nothing on this page is investment advice.