Tata Steel Q4 Results: Cons PAT soars 147% YoY to Rs 2,965 crore, revenue jumps 13%

The metal major posted a revenue uptick of 13% to Rs 63,270 crore in Q4FY26 versus Rs 56,218 crore posted in the corresponding quarter of the previous financial year.

While the profit after tax (PAT) was lower than Street’s estimates of Rs 3,065 crore, topline beat estimates of Rs 62,440 crore.

The company recommended a dividend of Rs 4 per equity share for the financial year 2025-26 which will be paid subject to shareholders’ approval at the Annual General Meeting (AGM) scheduled on July 2, 2026. It will be paid on and from July 6, 2026, the company’s filing to the exchanges said.

The PAT grew 9% sequentially versus 2,730 crore in Q3FY26 while revenue increased 11% from Rs 57,002 crore posted in the October-December quarter of FY26.

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Company’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 9,953 crore in Q4FY26 versus Rs 6,762 crore n Q4FY25, recording a 47% growth.

The company ended the year with a bang, reporting a PAT of Rs 10,886 crore, which more than trebled from Rs 3,174 crore in the year ago. The turnover in the same period stood at Rs 2.32 lakh crore compared to Rs 2.18 lakh crore, posting a 6.4% increase.

Segment revenue

India revenues were at Rs 38,654 crores in Q4 and EBITDA was Rs 9,841 crores, which translates to a margin of 25%. Crude steel production was up 14% YoY to 6.22 million tons and led to ‘best ever quarterly’ deliveries of 6.19 million tons. For FY26, it stood at Rs 1.40 lakh crores and EBITDA was Rs 34,272 crores, which translates to an EBITDA margin of 24%. EBITDA improved by 17% YoY. Performance was aided by ‘best ever’ crude steel production of 23.4 million tons and deliveries of 22.5 million tons.

Netherlands revenues were €1,605 million and EBITDA was €58 million. Liquid steel production was 1.63 million tons and deliveries were 1.70 million tons. For FY26, its stood at €6,028 million and EBITDA was €267 million. EBITDA had almost tripled on YoY basis.

UK revenues were £470 million and EBITDA loss stood at £48 million. Deliveries stood at 0.52 million tons and were impacted by subdued demand dynamics. UK revenues were £1,978 million and EBITDA loss almost halved to £217 million.

Capex

The company has spent Rs 3,655 crores on capital expenditure during the quarter and Rs 14,026 crores for the full year.

Net debt declined by Rs 2,285 crores YoY to Rs 80,144 crores.

Management commentary

T. V. Narendran said FY2026 was marked by heightened global economic uncertainty and tariff-led trade disruptions, but Tata Steel continued to deliver steady operational performance through cost optimisation and disciplined execution. He highlighted that Tata Steel India achieved its highest-ever deliveries of around 22.5 million tonnes, supported by growth in downstream businesses such as tubes, tinplate, wires and branded products.

Narendran added that the company strengthened its position in the automotive segment through rapid customer approvals at Kalinganagar and expanded the reach of Tata Tiscon across nearly all districts in India. He also noted strong growth in the company’s digital commerce platforms and engineering segment volumes, alongside continued investments in expansion projects including the new electric arc furnace at Ludhiana and the proposed NINL expansion.

On the overseas business, he said the UK market could benefit from revised import quotas, while the Netherlands operations continue to face regulatory challenges despite improving pricing conditions in Europe. Narendran further cautioned that geopolitical developments in West Asia have started impacting supply chains and input costs, with the pressures expected to continue into FY2027, prompting the company to undertake calibrated mitigation measures.