Skip to content
Tata Steel logo

Tata Steel

TATASTEEL NSE
₹179.93 +3.43 (+1.94%)
P/E
20.38
View as Markdown
MCP
Close 4 Nov 2026 ₹179.93 +2.66 +1.50% 1Y
Start ₹177.27

Key Fundamentals

LargecapFerrous MetalsMetals & Mining

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
12.50%
Debt to Equity
0.90
EPS (TTM)
₹8.83
Book Value
₹80.66
Market Cap
—
P/E (TTM)
20.38
P/B
2.23
ROE
11.70%
Dividend Yield
2.27%
EBITDA
₹35,754 Cr
52W High
₹224.40
52W Low
₹160.06
Day Range
₹174.24 – ₹179.93
Volume
2,07,42,372

Peer Comparison

Commodities › Metals & Mining › Iron & Steel

Tata Steel peer comparison
JSW Steel
₹1,343.0011.55₹3,24,536 Cr2.900.54%10.20%11.00%₹1,99,021 Cr₹31,708 Cr
Tata Steel (this company)
₹179.9320.38₹2,21,171 Cr2.232.27%11.70%12.50%₹2,39,756 Cr₹11,263 Cr
Jindal Steel
₹1,149.0043.11₹1,14,107 Cr2.240.18%8.22%9.70%₹56,413 Cr₹2,709 Cr
Steel Authority of India
₹170.4916.49₹69,475 Cr1.131.40%6.57%7.92%₹1,11,135 Cr₹4,272 Cr
Jindal Stainless
₹688.8017.48₹56,473 Cr2.670.59%17.70%19.30%₹44,026 Cr₹3,239 Cr
Sarda Energy & Minerals
₹441.2013.77₹15,290 Cr1.930.47%15.10%16.90%₹5,665 Cr₹1,151 Cr
NMDC Steel
₹39.49136.17₹11,356 Cr0.880.00%0.45%3.06%₹13,938 Cr₹84 Cr
Median 7 companies₹441.2017.48₹69,475 Cr2.230.54%10.20%11.00%₹56,413 Cr₹3,239 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

51 Average

Data confidence 100/100

Category scores

Quality
59
Good
Returns, margins, earnings quality 22% weight
Valuation
82
Strong
Cheap vs sector & own history 24% weight
Growth
41
Weak
Sales & profit trajectory 9% weight
Financial Health
20
Poor
Solvency, leverage, coverage 9% weight
Momentum
22
Poor
Trend strength, vol-adjusted 12% weight
Ownership
48
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 25.4%

Weaknesses

2
  • The company has delivered a poor sales growth of 8.21% over past five years.
  • Company has a low return on equity of 7.44% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBearish342
Moving AveragesNeutral505

Key readings

RSI (14)
56.52
Neutral
MACD (12,26,9)
−1.64
Bullish
SMA (50)
180.38
Bearish
SMA (200)
193.75
Bearish

As of

Analyst Rating

Based on 34 analysts
BUY56%

19 of 34 analysts rate Buy, 8 Hold, 7 Sell.

As of

BUY
19
56%
HOLD
8
24%
SELL
7
21%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+8.58%
5Y+8.21%
3Y−1.56%
1Y+6.22%
TTM+10.51%

Net profit

Net profit growth by window
10YTurned to profit
5Y+5.86%
3Y+10.47%
1Y+242.97%
TTM+164.27%

Operating cash flow

Operating cash flow growth by window
10Y+11.84%
5Y−4.58%
3Y+17.38%
1Y+51.54%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+15.41 pp
5Y−4.69 pp
3Y+1.53 pp
1Y+3.22 pp
TTM+3.10 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,12,299 Cr
Mar 2018₹1,23,249 Cr
Mar 2019₹1,57,669 Cr
Mar 2020₹1,39,817 Cr
Mar 2021₹1,56,477 Cr
Mar 2022₹2,43,959 Cr
Mar 2023₹2,43,353 Cr
Mar 2024₹2,29,171 Cr
Mar 2025₹2,18,543 Cr
Mar 2026₹2,32,140 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹4,169 Cr
Mar 2018₹17,743 Cr
Mar 2019₹9,122 Cr
Mar 2020₹1,174 Cr
Mar 2021₹8,190 Cr
Mar 2022₹41,749 Cr
Mar 2023₹8,075 Cr
Mar 2024−₹4,910 Cr
Mar 2025₹3,174 Cr
Mar 2026₹10,886 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹9,982 Cr +12.6% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk high

Tata Steel Ltd trades at ₹177.37 as of 2026-11-02 with a market cap of ₹2,17,887 crore, a P/E (TTM) of 20.09x, and a debt-to-equity ratio of 0.90. The company posted a sharp TTM profit growth of 147% alongside 11% TTM sales growth, though its 3-year sales CAGR remains negative at -2% and 3-year average ROE is modest at 7%.

Bull Case 8
  • TTM profit growth of 147% signals a strong earnings rebound, driving EPS (TTM) to ₹8.83
  • 10-year compounded profit growth of 24% demonstrates long-term earnings compounding ability across steel cycles
  • TTM revenue growth of 11% shows the top line is recovering after a period of contraction
  • Dividend yield of 2.39% with a healthy payout ratio of 25.4% offers income support in a cyclical sector
  • 10-year stock price CAGR of 16% indicates sustained long-term wealth creation for shareholders
  • ROCE of 11.32% exceeds the cost of debt for most steel companies, suggesting the capital structure is generating adequate returns
  • Current price of ₹177.37 is about 21% below the 52-week high of ₹224.40, implying the stock has pulled back from recent peaks
  • 5-year ROE averaging 14% reflects reasonable capital efficiency through a volatile commodity cycle
Bear Case 8
  • 3-year compounded sales growth is negative at -2%, reflecting weak or inconsistent revenue momentum
  • 5-year sales CAGR of only 8.21% is modest for a large-cap metals company, suggesting limited top-line expansion
  • Debt-to-equity ratio of 0.90 is elevated, leaving the balance sheet sensitive to interest rate movements and steel price downturns
  • 3-year average ROE of only 7% (7.44% per reported cons) is low, indicating subpar shareholder returns over the medium term
  • P/B ratio of 2.2x means the stock trades at more than double its book value, which is demanding for a cyclical commodity business
  • P/E (TTM) of 20.09x is on the higher side for a metals company, and a cyclical peak in earnings could mean the ratio understates forward valuation risk
  • 1-year stock CAGR of just 1% shows the market has offered almost no return to recent shareholders despite the earnings spike
  • Current ROE of 10.49% lags the 10-year average of 12%, suggesting returns on equity have not fully recovered to historical norms

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Tata Steel's India operations are firing on all cylinders with 10% YoY crude steel production growth, record automotive and branded product volumes, and a major ₹9,067 crore capacity expansion now commissioned at Kalinganagar. The key risks lie in Europe — a €4-6.5 billion decarbonization bill at IJmuiden with an uncertain Dutch government deal, muted UK and Netherlands volumes, and sector-wide EBITDA/tonne compression from weaker realizations. The stock remains range-bound (down 3.4% YTD) despite strong domestic fundamentals. Near-term direction hinges on the Nov 7 Q2 results and management commentary on European operations and margin trajectory.

Headwinds 4
  • Europe EBITDA/tonne pressure ahead Oct 7

    EBITDA per tonne projected to decline ₹600-2,200 across steel companies due to higher costs and lower realizations; long steel prices fell ~₹3,500/tonne sequentially.

  • Netherlands decarbonization cost overhang Oct 6

    Tata Steel needs €4-6.5 billion total investment to cut emissions at IJmuiden (7 mtpa capacity); Dutch government deal deadline extended five months to March 1, 2027.

  • Muted global volumes persist Oct 7

    Netherlands delivered ~1.30 MT, UK just 0.38 MT impacted by safeguard-related inventory buildup, and Thailand deliveries dipped QoQ due to heavy rains in September 2026.

Positives 5
  • India crude steel output up 10% Oct 7

    Q2 FY27 India crude steel production rose 10% YoY to 6.21 MT with deliveries up 7.5% YoY to 5.97 MT; H1 production reached 11.97 MT, up 10% YoY.

  • Auto & specialty volumes at record Oct 7

    Automotive & Special Products hit best-ever Q2 volumes of ~1.1 MT (up 19% YoY); Branded Products & Retail posted record ~2.2 MT with Tata Kosh up 25% QoQ.

  • ₹9,067 cr Kalinganagar expansion live Oct 16

    Commissioned two 1 mtpa galvanising lines, a 0.9 mtpa annealing line, and Phase I of a 7 mtpa slurry pipeline at Kalinganagar; NINL capex of ₹33,873 crore approved to add 4.8 mtpa capacity.

Neutral 3
  • Rujuvalika merger now effective Nov 3

    Scheme of Amalgamation with wholly owned subsidiary Rujuvalika Investments became effective Nov 3, 2026, after NCLT Mumbai approval on Oct 1; authorized share capital revised to ₹32,621.05 crore.

  • Q2 FY27 board meeting scheduled Oct 16

    Board meeting to approve Q2 FY27 financial results initially announced for Oct 27, later confirmed for November 7, 2026.

  • Hisarna clean steel tech advancing Oct 6

    Tata Steel is progressing Hisarna technology at IJmuiden pilot plant for CO₂-neutral iron production using coal and ore directly, bypassing sintering and coking; actively recruiting for the project.

Quarterly Results

₹ Cr
TATASTEEL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
59,490
55,682
55,312
58,687
54,771
53,905
53,648
56,218
53,178
58,689
57,002
63,270
60,794
Expenses
54,587
51,414
49,048
52,087
48,077
47,789
47,745
49,659
45,751
49,793
48,803
53,441
51,530
Operating Profit
4,903
4,268
6,264
6,601
6,694
6,116
5,903
6,559
7,428
8,897
8,200
9,829
9,264
OPM %
8%
8%
11%
11%
12%
11%
11%
12%
14%
15%
14%
16%
15%
Other Income
1,190
−6,568
−33
−382
−6
617
142
149
236
−6
465
42
−17
Interest
1,825
1,959
1,881
1,842
1,777
1,971
1,804
1,789
1,852
1,775
1,747
1,792
1,771
Depreciation
2,412
2,480
2,422
2,568
2,535
2,597
2,569
2,720
2,744
2,893
3,049
3,268
3,640
PBT
1,855
−6,739
1,928
1,809
2,377
2,164
1,672
2,200
3,067
4,222
3,869
4,810
3,838
Tax %
72%
−3%
73%
69%
61%
65%
82%
45%
35%
25%
29%
38%
38%
Net Profit
525
−6,511
522
555
919
759
295
1,201
2,007
3,183
2,730
2,965
2,385
EPS (₹)
0.52
−5.07
0.42
0.49
0.77
0.67
0.26
1.04
1.66
2.48
2.15
2.34
1.86

Profit & Loss

₹ Cr
TATASTEEL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,39,504
1,01,965
1,12,299
1,23,249
1,57,669
1,39,817
1,56,477
2,43,959
2,43,353
2,29,171
2,18,543
2,32,140
2,39,756
Expenses
1,36,095
1,02,590
99,156
1,01,816
1,28,351
1,22,354
1,25,973
1,80,469
2,11,053
2,06,923
1,93,244
1,97,788
2,03,567
Operating Profit
3,409
−625
13,144
21,433
29,318
17,463
30,504
63,490
32,300
22,248
25,298
34,352
36,189
OPM %
2.4%
−0.6%
12%
17%
19%
12%
19%
26%
13%
10%
12%
15%
15%
Other Income
5,994
10,346
−3,789
10,898
1,524
−2,884
180
1,300
1,569
−6,005
877
738
485
Interest
4,848
4,221
5,072
5,455
7,660
7,533
7,607
5,462
6,299
7,508
7,341
7,167
7,085
Depreciation
5,944
5,306
5,673
5,742
7,342
8,441
9,234
9,101
9,335
9,882
10,421
11,955
12,850
PBT
−1,388
193
−1,391
21,135
15,841
−1,395
13,844
50,227
18,235
−1,147
8,413
15,969
16,739
Tax %
185%
358%
200%
16%
42%
−184%
41%
17%
56%
328%
62%
32%
—
Net Profit
−3,939
−497
−4,169
17,743
9,122
1,174
8,190
41,749
8,075
−4,910
3,174
10,886
11,264
EPS (₹)
−3.48
−0.34
−3.76
11.93
9.07
1.38
6.26
32.88
7.17
−3.55
2.74
8.65
8.83
Div. Payout %
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
9%
15%
74%
40%
16%
50%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
131%
46%
—

Balance Sheet

₹ Cr
TATASTEEL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
971
970
970
1,145
1,145
1,145
1,198
1,221
1,221
1,247
1,247
1,247
Reserves
30,378
42,762
36,849
59,726
67,780
72,431
73,041
1,13,222
1,01,861
90,788
89,922
1,00,920
Borrowings
80,701
81,987
83,014
92,147
1,00,816
1,16,328
88,501
75,561
84,893
87,082
94,801
92,382
Other Liabilities
47,059
51,165
51,614
55,704
63,032
59,245
81,169
92,417
97,421
90,195
89,488
1,01,965
Total Liabilities
1,59,109
1,76,884
1,72,447
2,08,722
2,32,773
2,49,149
2,43,909
2,82,422
2,85,396
2,69,312
2,75,459
2,96,515
Fixed Assets
68,100
72,200
92,007
96,105
1,24,442
1,34,551
1,35,775
1,33,288
1,46,621
1,48,814
1,50,914
1,79,908
CWIP
28,678
35,996
15,784
16,614
18,641
19,497
19,007
22,046
31,213
34,356
41,622
28,497
Investments
3,455
10,714
12,457
17,899
5,738
6,285
10,682
13,140
8,410
6,258
6,194
7,089
Other Assets
58,876
57,974
52,200
78,103
83,952
88,816
78,445
1,13,948
99,151
79,885
76,728
81,021
Total Assets
1,59,109
1,76,884
1,72,447
2,08,722
2,32,773
2,49,149
2,43,909
2,82,422
2,85,396
2,69,312
2,75,459
2,96,515

Cash Flow

₹ Cr
TATASTEEL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
11,880
11,455
10,824
8,023
25,336
20,169
44,327
44,381
21,683
20,301
23,138
35,064
Investing
−9,021
−8,794
−9,490
−11,730
−29,176
−14,012
−9,437
−10,905
−18,179
−14,253
−13,611
−14,397
Financing
−2,617
−4,729
−2,579
6,640
−673
−1,695
−37,090
−23,401
−6,981
−11,097
−7,002
−21,387
Net Cash Flow
241
−2,068
−1,245
2,933
−4,513
4,462
−2,200
10,075
−3,477
−5,049
2,524
−720
Free Cash Flow
−169
1,523
3,397
724
16,712
10,156
37,793
34,428
7,868
2,569
8,731
21,906
CFO/EBITDA
420
−2,078
96
51
104
128
148
89
84
115
103
115

Ratios

TATASTEEL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
35
43
38
37
27
21
22
18
12
10
9
8
Inventory Days
165
180
230
224
190
197
215
213
175
176
171
184
Days Payable
126
167
172
161
130
136
167
161
122
108
113
136
Cash Conversion Cycle
74
56
96
99
87
82
69
71
66
78
67
56
Working Capital Days
−6
−47
−32
−31
−18
−38
−55
−34
−42
−59
−50
−56
ROCE %
1%
1%
6%
12%
14%
6%
12%
31%
13%
7%
9%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Tata Steel insights

65 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 32.94%
  • DIIs 27.52%
  • FIIs 18.19%
  • Public 17.88%
  • Others 3.46%
  • Government 0.01%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Tata Steel

What does Tata Steel Ltd do?
Tata Steel Ltd is Asia's first integrated private steel company setup in 1907. The company has presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products.
Where is Tata Steel Ltd (TATASTEEL) listed?
Tata Steel Ltd trades as TATASTEEL on the NSE and under code 500470 on the BSE.
Which sector does Tata Steel Ltd belong to?
Tata Steel Ltd is classified under the Metals & Mining sector, in the Iron & Steel industry.
What is the PE ratio of Tata Steel Ltd?
Tata Steel Ltd trades at a PE ratio of 20.38 as of 4 Nov 2026, on earnings per share of ₹8.83, against a book value of ₹80.66 per share.
What is the 52-week high and low of Tata Steel Ltd?
Over the last 52 weeks Tata Steel Ltd has traded between ₹160.06 and ₹224.4 as of 4 Nov 2026.
Does Tata Steel Ltd pay dividends?
Tata Steel Ltd has a dividend yield of 2.27%.
What is the Return on Equity (ROE) of Tata Steel Ltd?
Tata Steel Ltd reported a return on equity of 11.70%. Its debt-to-equity ratio is 0.90.

Company Information

Tata Steel Ltd is Asia's first integrated private steel company setup in 1907. The company has 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 has a target to increase domestic steelmaking capacity to 30 MnTPA by 2025.

Website tatasteel.com
CEO Mr. Thachat Viswanath Narendran
Employees 1,15,788
Listed 18 Nov 1998
Face Value ₹1

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/TATASTEEL.md for Tata Steel Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Steel stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month