Iron & Steel Products company Tata Steel announced Q1FY26 results Consolidated Revenues for the April – June 2025 quarter were Rs 53,178 crore and EBITDA was Rs 7,480 crore with a margin of around 14%. EBITDA improved by 11% QoQ and 10% YoY, aided in part by ongoing strategic initiatives. India revenues were Rs 31,137 crore for the quarter and EBITDA was Rs 7,486 crore, which translates to a margin of 24%. India EBITDA per ton improved by Rs 2,510 per ton QoQ to Rs 15,760 per ton. UK revenues were GBP 536 million for the quarter and EBITDA loss stood at GBP 41 million vs. loss of GBP 80 million in 4QFY25. Deliveries stood at 0.60 million tons and were marginally lower due to subdued demand. Netherlands revenues were EUR 1,519 million for the quarter and EBITDA was EUR 64 million vs. EUR 14 million in 4QFY25. Liquid steel production was 1.70 million tons and deliveries were 1.50 million tons. The company has spent Rs 3,829 crore on capital expenditure during the quarter Net debt stands at Rs 84,835 crore. Our group liquidity remains strong at Rs 43,578 crore, which includes cash & cash equivalents of Rs 14,118 crore. T V Narendran, Chief Executive Officer & Managing Director: “Tata Steel has demonstrated robust profitability across geographies despite volatile global macro conditions and heightened uncertainty. The strong improvement in our 1Q performance on QoQ as well as YoY basis was driven by an increase in our net steel realisations and the planned cost-take outs. In India, our large distribution network with 25,000+ dealers & distributors and our focus on delivering customer requirements helped us in selling higher value-added products and in creating value from the new facilities we commissioned. The volume ramp up at Kalinganagar is progressing smoothly and within six months of the start-up of the continuous annealing line facility, we have been successful in receiving grade approvals for high strength and ultra-high strength steel. Tata Steel now stands at par with global leaders in providing next generation lightweighting solutions and catering to advanced mobility applications. We are also leveraging the growing digital marketplace by expanding presence through e-commerce platforms such as Aashiyana and DigECA. The Gross Merchandise Value through these platforms now stands at Rs 5,400 crore on annualised basis, an increase of 52% YoY. Our mining operations complement steelmaking by providing secure and reliable supply of raw materials. I am happy to share that our Noamundi Iron ore mine was adjudged with 7-star rating by the Ministry of Mines for scientific and sustainable mining, one of only three such mines in India. In UK, we recently had the groundbreaking ceremony for the EAF at Port Talbot which marks yet another milestone in our journey to become a sustainable green steel operations. In Netherlands, our liquid steel production was 1.7 million tons and was close to rated capacity and performance was aided by favourable sales mix and higher realisations in the downstream business.” Koushik Chatterjee, Executive Director and Chief Financial Officer: “Tata Steel has delivered resilient performance and sequentially improved margins by around 200 bps despite challenging demand and uncertainty on trade & tariffs. Consolidated revenues for the quarter were Rs 53,178 crore and EBITDA was Rs 7,480 crore, which translates to a margin of around 14% and Rs 10,503 per ton. Higher steel realisations offset the decline in volumes across geographies. Our cost transformation program, focused on multiple levers including operating KPIs, supply chain and procurement, has delivered around Rs 2,900 crore during the quarter. We remain focused on cost optimisation, operational improvements and working capital management to maximise cashflows. India revenues were Rs 31,137 crore and EBITDA was Rs 7,486 crore for the quarter. India EBITDA improved from Rs 13,250 per ton in 4Q to Rs 15,760 per ton in 1Q. Continuing our efforts to further consolidate the India footprint, we successfully acquired the residual equity stake in Neelachal Ispat Nigam Limited and with this, NINL is now a wholly owned subsidiary. NINL generated an EBITDA of Rs 224 crore in 1Q and is our strategic lever to expand in long products business. Among our overseas operations, Netherlands EBITDA improved by EUR 35 per ton while UK EBITDA improved by GBP 58 per ton on QoQ basis. We are committed to capacity growth in structurally attractive India market and have spent around Rs 3,829 crore towards capital expenditure during the quarter. As of 30th June 2025, Net debt stood at Rs 84,835 crore and our group liquidity position remains strong at Rs 43,578 crore with cash & cash equivalents of Rs 14,118 crore. Site activity has officially commenced at Port Talbot, UK for the Electric Arc Furnace. In India, we are progressing on the construction of the Electric Arc Furnace at Ludhiana with commencement of equipment erection activities. The G blast furnace relining in Jamshedpur is at an advanced stage of completion and with Kalinganagar ramping up, India volumes are expected to be sequentially higher in the next quarter.” Result PDF