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Economic Times
23-05-2025
- Business
- Economic Times
Tata Steel shares in focus after company unveils Rs 27,000-crore Kalinganagar expansion, boosts capacity to 8MT
Tata Steel shares will be in focus on Friday after the company launched the second phase of its Kalinganagar plant in Odisha, increasing its annual crude steel capacity from 3 million tonnes (MT) to 8MT with an investment of Rs 27,000 crore. With this move, Odisha has become Tata Steel's largest investment destination. ADVERTISEMENT Located in Jajpur district, the expanded facility will produce advanced high-strength steel for sectors such as automotive, infrastructure, power, shipbuilding, and defence. Tata Steel CEO & MD T.V. Narendran said, "Kalinganagar is more than a manufacturing site for us. It symbolises what is possible when communities, government, and industry work together. This expansion reflects our deep belief in Odisha's potential and our long-term commitment to this state." Earlier this month, Tata Steel reported a consolidated net profit of Rs 1,201 crore for the quarter ended March 2025, beating Street estimates of Rs 1,062 crore. Revenue from operations came in at Rs 56,218 crore, down 4.2% from Rs 58,687 crore in the same quarter last year, but up 5% sequentially from Rs 53,648 crore in for the quarter came in at Rs 6,762 crore, up from Rs 6,631 crore in Q4FY24 and Rs 5,994 crore in Q3FY25. However, adjusted EBITDA per tonne fell to Rs 7,810, compared to Rs 9,263 in Q3FY25 and Rs 8,735 in Steel also announced plans to invest up to $2.5 billion in its Singapore-based subsidiary, T Steel Holdings Pte Ltd, as part of its ongoing international strategic initiatives. ADVERTISEMENT Also Read: RIL, SBI among 10 stocks with more than 32 buy calls According to Trendlyne, the average target price for Tata Steel is Rs 161. Out of 30 analysts covering the stock, the consensus rating is 'Buy'. ADVERTISEMENT Tata Steel shares closed at Rs 161.20 on Thursday, down 0.22% on the BSE. The stock is up 18% year-to-date and has gained 54% over the past two years. Its current market capitalisation stands at Rs 2,01,295 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
The Print
22-05-2025
- Business
- The Print
Tata Steel completes 5 MT expansion project at Kalinganagar; India capacity crosses 26 MT
With the completion of the 5 million tonne expansion project undertaken at an investment of Rs 27,000 crore, the capacity of Kalinganagar plant stands at 8 MT from 3 MT earlier, the steelmaker said in a statement. New Delhi, May 22 (PTI) Tata Steel on Thursday announced the completion of the phase II expansion project at Kalinganagar in Odisha, taking its overall capacity to 26.1 million tonnes (MT) in the country. T. V. Narendran, CEO and Managing Director, Tata Steel, said: 'This expansion reflects our deep belief in Odisha's potential and our long-term commitment to this State. Kalinganagar is more than a manufacturing site for us. It symbolises what is possible when communities, government, and industry work together.' Tata Steel aims to target supply advanced high-strength steels for sectors like automotive, infrastructure, power, shipbuilding, and defence with the expansion. Odisha has emerged as the single largest investment destination for Tata Steel. Earlier Tata Steel had said it has made a total cumulated investment of over Rs 100,000 crore in the last 10 years in the state. Besides Kalinganagar, the capacity of Tata Steel Meramandali (erstwhile Bhushan Steel) is 5.6 MT, Tata Steel Jamshedpur 11, Tata Steel Gamharia and NINL 1 MT each. The company commenced the Rs 27,000-crore second phase of expansion of its Kalinganagar project in Odisha in November 2018. The new blast furnace at Kalinganagar, with a volume of 5,870 cubic meteres of inner volume is the largest in India. The expansion project includes raw material capacity expansion, upstream and mid -stream facilities, infrastructure and downstream facilities including a cold rolling mill complex. PTI ABI ABI MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
14-05-2025
- Business
- Time of India
Tata Steel shares rally over 3% on Rs 15,000 cr capital expenditure plan
Tata Steel shares rallied 3.5% to an intraday high of Rs 154.75 on the BSE on Wednesday, May 14, after the company's substantial capital expenditure plan of Rs 15,000 crore for FY26, according to a report. The capex will support the company's expansion across India, the UK, and the Netherlands, as confirmed by senior company officials. Of the total planned expenditure, approximately 80% will be directed toward ongoing projects in India, according to CEO & MD T.V. Narendran and CFO Koushik Chatterjee, as reported by The Economic Times. As per the plan, Rs 11,000 crore has been earmarked for domestic operations, Rs 1,900 crore for the UK, and the remainder for the Netherlands. In FY2024-25, Tata Steel's total capital expenditure stood at Rs 15,671 crore, including Rs 3,220 crore spent in the fourth quarter alone. Live Events Expansion plans and new projects Tata Steel is ramping up its production capabilities with a 5 million tonnes per annum (MTPA) blast furnace at Kalinganagar and the construction of an Electric Arc Furnace (EAF) in Ludhiana. The company has also received planning permission for its EAF project at Port Talbot in the UK, with site activities scheduled to commence in July 2025. Tata Steel Q4 results For Q4FY25, Tata Steel reported a 113% year-on-year surge in consolidated net profit to Rs 1,301 crore, up from Rs 611 crore in the same period last year. The profit, attributable to shareholders, surpassed Street estimates of Rs 1,062 crore. Revenue from operations for the March quarter stood at Rs 56,218 crore, down 4.2% from Rs 58,687 crore in the corresponding quarter of the previous fiscal year. Also read: Reliance looks for $1.3-billion gloss finish to its exit from Asian Paints Tata Steel share price history Over the past year, Tata Steel shares have declined 8.76%. However, on a year-to-date (YTD) basis, the stock has gained 9.32%. It is up 7.36% over the last six months and 9.77% in the past three months. In the last one month alone, the stock has gained 12.03%. On Tuesday, Tata Steel shares closed 1.35% lower at Rs 149.50 on the BSE. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business Standard
13-05-2025
- Business
- Business Standard
Tata Steel Q4 PAT zooms 113% YoY to Rs 1,301 cr
Tata Steel reported 112.73% surge in consolidated net profit to Rs 1,300.81 crore in Q4 FY25 compared with Rs 611.48 crore posted in Q4 FY24. However, revenue from operations fell 4.20% YoY to Rs 56,218.11 crore in the quarter ended 31 March 2025. Profit before exceptional items and tax increased 7.69% to Rs 2,588.30 crore in Q4 FY25, up from Rs 2,403.34 crore reported in same period year ago. The company posted an exceptional loss of Rs 388.61 crore during the period. The companys reported EBITDA rose 1.97% YoY to Rs 6,762 crore in Q4 FY25 compared with Rs 6,631 crore in Q4 FY24. The companys consolidated steel production declined 5.93% to 7.45 million tons (MT) in Q4 FY25 as compared with 7.92 million tons in Q4 FY24. Deliveries increased 4.38% YoY to 8.33 MT in Q4 FY25. In India, revenues stood at Rs 34,661 crore and EBITDA was Rs 7,418 crore, translating to an EBITDA margin of 21%. Crude steel production was 5.44 million tonnes, lower on a quarter-on-quarter (QoQ) basis due to the reline of one of the blast furnaces in Jamshedpur. Deliveries stood at 5.60 million tonnes, reflecting a 6% QoQ increase. During the quarter, UK revenues stood at 551 million, and EBITDA loss was 80 million. Deliveries totaled 0.63 million tonnes, registering a 12% increase on a QoQ basis. Netherlands revenues were 1,624 million and EBITDA was 14 million. Deliveries were 1.75 million tons, up 14% on QoQ basis. The company stated that its 5 MTPA blast furnace at Kalinganagar is ramping up, and the phased commissioning of the 2.2 MTPA CRM complex is progressing, with the continuous galvanizing lines expected to be commissioned in the coming months. Construction is underway for the Electric Arc Furnace (EAF) in Ludhiana. In the UK, the company has received planning permission for the EAF project at Port Talbot, and site activities are set to commence in July 2025. The company has spent Rs 3,220 crore on capital expenditure during the quarter and Rs 15,671 crore for the full year. Net debt stands at Rs 82,579 crores. Its group liquidity remains strong at Rs 38,791 crores, which includes cash & cash equivalents of Rs 12,222 crore. T. V. Narendran, chief executive officer & managing director, said, FY2025 has been an important transition year for Tata Steel with significant developments across operating geographies. We commissioned Indias largest blast furnace at Kalinganagar, safely decommissioned two blast furnaces in UK and achieved production levels near rated capacity in Netherlands. India deliveries were best ever at around 21 million tons and were up 5% YoY aided by a smooth ramp-up of the new blast furnace at Kalinganagar and capacity utilization close to 100% at the remaining operations. At the segment level, Tata Steel continues to be the preferred supplier for automotive steel, with a high share of business in new model launches. Tata Tiscon achieved best ever volumes and grew by 19% YoY to around 2.4 million tons. We have invested more than Rs 1,600 crores on R&D in the last 5 years, enabling us to become the first Indian steel supplier to have end-to-end capabilities in hydrogen transportation and to localize CP780 automotive grade, demonstrating our customer centricity. In yet another step towards growing in chosen segments in India, we have begun catering to commercial shipbuilding. Deliveries in the UK were around 2.5 million tons as we smoothly transitioned to supplying our customers on the basis of imported substrate processed at our downstream mills. While fixed costs have reduced by around 230 million, the benefit was not visible due to surging imports. In Netherlands, our deliveries were around 6.25 million tons and for the quarter were 1.75 million tons, highest in the last six years. The QoQ improvement in profitability at Netherlands includes efforts to reduce controllable costs while a transformation program to restore long term competitiveness has been launched in April 2025. This year also marked landmark achievement in the form of a century of mining at Noamundi and in FY2025, we mined around 40 million tons of iron ore across our mines in India. I am also happy to share that we have been recognised by worldsteel as sustainability champions for the eighth time in a row. Koushik Chatterjee, executive director and chief financial officer, said, Tata Steel consolidated revenues for FY2025 were around $26 billion and EBITDA was $3.1 billion. Consolidated EBITDA improved by 10% YoY aided by higher volumes and a reduction in controllable costs despite the drop in realisations. Neelachal Ispat Nigam achieved annual EBITDA of around Rs 1,000 crore with a margin of 19% and free cash flow in excess of Rs 1,000 crore. This demonstrates the turnaround of the company which was closed at the time of acquisition almost three years ago. Operating cash flows after interest and adjustments improved by 37% or around Rs 4,800 crore YoY to Rs 17,700 crore, aided by working capital release of around Rs 3,600 crore. We spent Rs 15,671 crore on capital expenditure during the year. For the quarter, consolidated revenues stood at Rs 56,218 crore and EBITDA was Rs 6,762 crore, which translates to a margin of around 12%, with India EBITDA margin being higher at 21%. Consolidated EBITDA margin was 100 bps higher on QoQ basis. We are focused on cost takeouts to enhance competitiveness and have already achieved around Rs 6,600 crore during the year vs. FY2024 levels, of which 230 million, or Rs 2,600 crore was in UK, Rs 2,800 crore was in India and Rs 1,150 crore was in Netherlands and the cost transformation program will continue in the future. Our electric arc furnace project in the UK is also progressing as per plan with award of key OEM contracts, receipt of planning permissions with construction likely to begin by July 2025. Tata Steel Netherlands' annual EBITDA has improved to 90 million as production returned to near rated capacity and operating cash flows after interest were around 450 million through significant cash and cost focused actions. The discussion with the Government of the Netherlands on the integrated decarbonisation and environmental measures project continues to be intense, and we are also engaged with the provincial and environmental authorities on the above. Meanwhile, the companys board has recommended a dividend of Rs 3.60 per share for FY2024-25. The board has also fixed Friday, 6 June 2025, as the record date to determine the members entitled to receive the dividend for FY 2024-25. further, the company's board has also approved the proposal, inter alia under the foreign exchange regulations, to infuse funds up to USD 2.5 billion (around Rs 21,410.95 crore) by way of subscription to equity shares of T Steel Holdings Pte. (TSHP), a wholly owned foreign subsidiary of the company, in one or more tranches. FY2025-26. Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 35 million tons per annum. The counter declined 1.52% to Rs 149.25 on the BSE.
The Hindu
12-05-2025
- Automotive
- The Hindu
Tata Steel Q4 net profit more than doubles to ₹1,301 crore
Tata Steel Ltd. has posted a more than two-fold increase in Q4 consolidated net profit to ₹1,301 crore from ₹611 crore in the year-earlier period. The company's revenue from operations during the period declined 5% YoY to ₹55,707 crore. For FY25, the company registered a net profit of ₹3,421 crore compared with a net loss of ₹4,437 crore in the previous year. Revenue from operations dropped 5% to ₹2,16,840 crore. The Board of Directors recommended a dividend of ₹3.60 per ordinary (equity) share of face value of ₹1 each. 'FY2025 has been an important transition year for Tata Steel with significant developments across operating geographies,' said MD & CEO T.V. Narendran. 'We commissioned India's largest blast furnace at Kalinganagar, safely decommissioned two blast furnaces in the U.K., and achieved production levels near rated capacity in The Netherlands. India deliveries were best ever at about 21 million tonnes and were up 5% YoY aided by a smooth ramp up of the new blast furnace at Kalinganagar and capacity utilisation close to 100% at the remaining operations,' he said. 'At the segment level, Tata Steel continues to be the preferred supplier for automotive steel, with high share of business in new model launches. Tata Tiscon achieved best-ever volumes and grew by 19% YoY to around 2.4 million tonnes,' he added. 'The company has invested more than ₹1,600 crore in R&D in the last five years, enabling us to become the first Indian steel supplier to have end-to-end capabilities in hydrogen transportation and to localise CP780 automotive grade demonstrating our customer centricity. ' 'In yet another step towards growing in chosen segments in India, we have begun catering to commercial shipbuilding. Deliveries in the U.K. were 2.5 million tonnes as we smoothly transitioned to supplying our customers on the basis of imported substrate processed at our downstream mills while fixed costs have reduced by around £230 million, the benefit was not visible due to surging imports,' he said. 'In Netherlands, our deliveries were ~6.25 million tons and for the quarter were 1.75 million tonnes,' he added. Executive Director and Chief Financial Officer Koushik Chatterjee said, 'We are focused on cost take-outs to enhance competitiveness and have already achieved ₹6,600 crore during the year vs. FY2024.' The company's India revenues were ₹34,661 crore and EBITDA was ₹7,418 crore, which translates to an EBITDA margin of 21%. Crude steel production was 5.44 million tonnes and moved lower on quarter-on-quarter (QoQ) basis due to reline of one of the blast furnaces in Jamshedpur. Deliveries stood at 5.60 million tons and were up 6% QoQ. U.K. revenues were £551 million and EBITDA loss stood at £80 million. Deliveries were 0.63 million tonnes, up 12% on a QoQ basis. Netherlands revenues were €1,624 million and EBITDA was €14 million. Deliveries were 1.75 million tonnes, up 14% on QoQ basis. The company said it had spent ₹3,220 crore on capital expenditure during the quarter and ₹15,671 crore for the full year. Net debt stands at ₹82,579 crore. And group liquidity remains strong at ₹38,791 crore, which includes cash and cash equivalents of ₹12,222 crore, it added.
