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Tata Steel Q1 FY27 Share Price & Earnings Call Analysis

₹169.46+0.11% today
Market cap
₹2.12L Cr
P/E
17.90
ROE
11.71%
PEG
1.86
Price to sales
0.88
Debt to equity
0.90
52W high / low
₹221 / ₹161
Sales growth (5Y)
8.21%
EBITDA margin
15.09%
Net profit margin
4.92%
Promoter holding
32.94%
Sales (last year)
₹2.40L Cr

Guidance scorecard · Q1 FY27 call

What Tata Steel Ltd's management guided
and where it ranks in Ferrous Metals

#7of 9 in
Ferrous Metals
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Tata Steel aims to grow selectively in India by focusing on higher value segments rather than just increasing volume market share.
  • Plans to double market share in chosen segments like Tata Tiscon and downstream products such as tubes and wires.
  • Future growth beyond NINL involves additional EAF builds and further expansions at Maharashtra and Tata Steel Kalinganagar Phase 3.
  • The company prioritizes value-accretive growth with a focus on downstream and solutions businesses.
Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Tata Steel Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • NINL Expansion: Greenfield project expanding from ~1 million tons to 6.2 million tons; significant capex compared to Kalinganagar Phase II due to new assets and mills; 48-month commissioning timeline.
  • Maharashtra Steel Plant: Targeting ~3,000+ acres for ~15 MTPA capacity via three 5 MTPA blast furnaces; current plan set at 5 million tons (down from earlier 6 million tons).
  • Downstream Capacity Expansion: 0.3 MTPA tinplate and 0.74 MTPA hot roll pickling & galvanising projects on track for completion in 30 months; 0.5 MTPA combi mill commissioned, ramping up.
  • Tube Capacity: Planned addition of 0.42 million tons through asset-light model in FY2027.
  • Investments in India: Focused on sustainable technologies like EAsyMelt, HIsarna; electric arc furnace (EAF) plant in Ludhiana commissioned.

2 more points from Tata Steel Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Tata Steel Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Tata Steel Ltd said on the order book →

Full Q1 FY27 analysis
Full Ferrous Metals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Ferrous Metals
on management's own guidance

  1. Jai Balaji Industries LtdGood growth
    2
  2. Strong growth
    1
  3. Indian Metals & Ferro Alloys LtdGood growth
    3
See all potential multibaggersWhere does Tata Steel Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Ferrous Metals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹59 Cr9.4
2Jai Balaji Industries Ltd20–40%Flat₹6,599 Cr45.1
3Indian Metals & Ferro Alloys Ltd20–40%Flat₹6,366 Cr12.1
410–20%Up 2%+₹70,612 Cr14.6
510–20%Up 0–2%₹7,471 Cr19.1
610–20%Flat₹2.97L Cr24.7

Sign up free to see every company in the sector ranking and track Tata Steel Ltd.

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Financials of Tata Steel Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Tata Steel Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +62,96259,49055,68255,31258,68754,77153,90553,64856,21853,17858,68957,00263,270
Expenses +55,74254,58751,41449,04852,08748,07747,78947,74549,65945,75149,79348,80353,441
Operating Profit7,2194,9034,2686,2646,6016,6946,1165,9036,5597,4288,8978,2009,829
OPM %11%8%8%11%11%12%11%11%12%14%15%14%16%
Other Income +2771,190-6,568-33-382-6617142149236-646542
Interest1,7941,8251,9591,8811,8421,7771,9711,8041,7891,8521,7751,7471,792
Depreciation2,3822,4122,4802,4222,5682,5352,5972,5692,7202,7442,8933,0493,268
Profit before tax3,3211,855-6,7391,9281,8092,3772,1641,6722,2003,0674,2223,8694,810
Tax %53%72%-3%73%69%61%65%82%45%35%25%29%38%
Net Profit +1,566525-6,5115225559197592951,2012,0073,1832,7302,965
EPS in Rs1.390.52-5.070.420.490.770.670.261.041.662.482.152.34

Financials of Tata Steel Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +139,504101,965112,299123,249157,669139,817156,477243,959243,353229,171218,543232,140
Expenses +136,095102,59099,156101,816128,351122,354125,973180,469211,053206,923193,244197,788
Operating Profit3,409-62513,14421,43329,31817,46330,50463,49032,30022,24825,29834,352
OPM %2%-1%12%17%19%12%19%26%13%10%12%15%
Other Income +5,99410,346-3,78910,8981,524-2,8841801,3001,569-6,005877738
Interest4,8484,2215,0725,4557,6607,5337,6075,4626,2997,5087,3417,167
Depreciation5,9445,3065,6735,7427,3428,4419,2349,1019,3359,88210,42111,955
Profit before tax-1,388193-1,39121,13515,841-1,39513,84450,22718,235-1,1478,41315,969
Tax %185%358%200%16%42%-184%41%17%56%328%62%32%
Net Profit +-3,939-497-4,16917,7439,1221,1748,19041,7498,075-4,9103,17410,886
EPS in Rs-3.48-0.34-3.7611.939.071.386.2632.887.17-3.552.748.65
Dividend Payout %-20%-203%-23%9%15%74%40%16%50%-101%131%46%

Financials of Tata Steel Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9719709701,1451,1451,1451,1981,2211,2211,2471,2471,247
Reserves30,37842,76236,84959,72667,78072,43173,041113,222101,86190,78889,922100,920
Borrowings +80,70181,98783,01492,147100,816116,32888,50175,56184,89387,08294,80192,382
Other Liabilities +47,05951,16551,61455,70463,03259,24581,16992,41797,42190,19589,488106,705
Total Liabilities159,109176,884172,447208,722232,773249,149243,909282,422285,396269,312275,459301,254
Fixed Assets +68,10072,20092,00796,105124,442134,551135,775133,288146,621148,814150,914180,895
CWIP28,67835,99615,78416,61418,64119,49719,00722,04631,21334,35641,62227,510
Investments3,45510,71412,45717,8995,7386,28510,68213,1408,4106,2586,1947,089
Other Assets +58,87657,97452,20078,10383,95288,81678,445113,94899,15179,88576,72885,760
Total Assets159,109176,884172,447208,722232,773249,149243,909282,422285,396269,312275,459301,254

Financials of Tata Steel Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +11,88011,45510,8248,02325,33620,16944,32744,38121,68320,30123,51235,064
Cash from Investing Activity +-9,021-8,794-9,490-11,730-29,176-14,012-9,437-10,905-18,179-14,253-13,985-14,905
Cash from Financing Activity +-2,617-4,729-2,5796,640-673-1,695-37,090-23,401-6,981-11,097-7,002-21,387
Net Cash Flow241-2,068-1,2452,933-4,5134,462-2,20010,075-3,477-5,0492,524-1,228
Free Cash Flow-1691,5233,39772416,71210,15637,79334,4287,8682,5699,10521,901
CFO/OP420%-2,078%96%51%104%128%148%89%84%115%103%115%

Financials of Tata Steel Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3543383727212218121098
Inventory Days165180230224190197215213175176171184
Days Payable126167172161130136167161122108113136
Cash Conversion Cycle745696998782697166786756
Working Capital Days-6-47-32-31-18-38-55-34-42-59-50-54
ROCE %1%1%6%12%14%6%12%31%13%7%9%13%

Guidance history

How Tata Steel Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q4 FY26 call →10–20%Up 2%+Planned——
Q3 FY26 call →10–20%FlatPlannedPlanned—
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

19out of 100

Momentum score · price trend

19 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−6.9%53%
Last 6 months−21.6%18%
Last 3 months−9.6%44%

The price is 23.5% below its all-time high of ₹221.13 (14 May 2026). Stocks more than 20% below their peak have their score halved, so 37 became 19.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Tata Steel Ltd: 0.4 × 53 + 0.4 × 18 + 0.2 × 44 = 37, halved to 19 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Tata Steel Ltd's management said in earlier quarters

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