MarketFriction

Tata Steel Ltd

NSE TATASTEEL · BSE 500470 · Iron & Steel
₹178.00 -3.42%
NSE close2026-10-01
52 week range160.06 - 224.40
Market cap₹2,34,690 Cr.
P/E19.8
Nifty 50Nifty 100Nifty 200Nifty 500Nifty MetalNifty Commodities No price band Delivery 52.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales55,68255,31258,68754,77153,90553,64856,21853,17858,68957,00263,27060,794
Expenses51,41449,04852,08748,07747,78947,74549,65945,75149,79348,80353,44151,530
Operating Profit4,2686,2646,6016,6946,1165,9036,5597,4288,8978,2009,8299,264
OPM %8%11%11%12%11%11%12%14%15%14%16%15%
Other Income-6,568-33-382-6617142149236-646542-17
Interest1,9591,8811,8421,7771,9711,8041,7891,8521,7751,7471,7921,771
Depreciation2,4802,4222,5682,5352,5972,5692,7202,7442,8933,0493,2683,640
Profit before tax-6,7391,9281,8092,3772,1641,6722,2003,0674,2223,8694,8103,838
Tax %-3%73%69%61%65%82%45%35%25%29%38%38%
Net Profit-6,5115225559197592951,2012,0073,1832,7302,9652,385
EPS in Rs-5.070.420.490.770.670.261.041.662.482.152.341.86
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales101,965112,299123,249157,669139,817156,477243,959243,353229,171218,543232,140239,756
Expenses102,59099,156101,816128,351122,354125,973180,469211,053206,923193,244197,788203,567
Operating Profit-62513,14421,43329,31817,46330,50463,49032,30022,24825,29834,35236,189
OPM %-0.6%12%17%19%12%19%26%13%10%12%15%15%
Other Income10,346-3,78910,8981,524-2,8841801,3001,569-6,005877738485
Interest4,2215,0725,4557,6607,5337,6075,4626,2997,5087,3417,1677,085
Depreciation5,3065,6735,7427,3428,4419,2349,1019,3359,88210,42111,95512,850
Profit before tax193-1,39121,13515,841-1,39513,84450,22718,235-1,1478,41315,96916,739
Tax %358%200%16%42%-184%41%17%56%328%62%32%
Net Profit-497-4,16917,7439,1221,1748,19041,7498,075-4,9103,17410,88611,264
EPS in Rs-0.34-3.7611.939.071.386.2632.887.17-3.552.748.658.83
Dividend Payout %-203%-23%9%15%74%40%16%50%-101%131%46%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%8%-2%11%
Compounded Profit Growth24%8%10%147%
Stock Price CAGR18%8%13%11%
Return on Equity12%14%7%12%
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
Borrowings80,70181,98783,01492,147100,816116,32888,50175,56184,89387,08294,80192,382
Other Liabilities47,05951,16551,61455,70463,03259,24581,16992,41797,42190,19589,488101,965
Total Liabilities159,109176,884172,447208,722232,773249,149243,909282,422285,396269,312275,459296,515
Fixed Assets68,10072,20092,00796,105124,442134,551135,775133,288146,621148,814150,914179,908
CWIP28,67835,99615,78416,61418,64119,49719,00722,04631,21334,35641,62228,497
Investments3,45510,71412,45717,8995,7386,28510,68213,1408,4106,2586,1947,089
Other Assets58,87657,97452,20078,10383,95288,81678,445113,94899,15179,88576,72881,021
Total Assets159,109176,884172,447208,722232,773249,149243,909282,422285,396269,312275,459296,515
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity11,88011,45510,8248,02325,33620,16944,32744,38121,68320,30123,13835,064
Cash from Investing Activity-9,021-8,794-9,490-11,730-29,176-14,012-9,437-10,905-18,179-14,253-13,611-14,397
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 Flow241-2,068-1,2452,933-4,5134,462-2,20010,075-3,477-5,0492,524-720
Free Cash Flow-1691,5233,39772416,71210,15637,79334,4287,8682,5698,73121,906
CFO/OP420%-2,078%96%51%104%128%148%89%84%115%103%115%
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-6-47-32-31-18-38-55-34-42-59-50-56
ROCE %1%1%6%12%14%6%12%31%13%7%9%13%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters33.90%33.70%33.19%33.19%33.19%33.19%33.19%33.19%33.19%33.19%33.19%32.94%
FIIs20.31%20.01%19.61%19.68%19.25%18.53%18.29%17.22%17.29%17.49%18.58%18.90%
DIIs22.20%23.15%23.51%23.33%22.67%23.52%24.48%26.07%26.92%26.98%26.67%26.44%
Government0.16%0.16%0.16%0.18%0.18%0.18%0.18%0.18%0.18%0.18%0.18%0.18%
Public23.43%22.99%23.52%23.60%24.69%24.55%23.84%23.31%22.42%22.14%21.36%21.52%
No. of Shareholders38,04,72839,92,60947,17,44252,69,35459,87,13961,59,77960,25,70958,23,94255,05,58153,59,97152,21,33851,79,576

Fundamentals

Market Cap₹ 2,34,690 Cr.
Current Price₹ 188
Stock P/E19.8
Book Value₹ 81.8
ROCE12.5 %
ROE11.7 %
Dividend Yield2.13 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)11%
Compounded Profit Growth (TTM)147%
Consolidated figures.
Valuation
Market capRs 222,102 Cr
Enterprise valueRs 304,426 Cr
P/E (TTM)20.13x
Price to book2.17x
Price to sales0.93x
EV / EBITDA8.30x
EV / EBIT12.78x
EV / sales1.27x
Price to cash flow6.33x
Earnings yield4.97%
Dividend yield2.25%
P/E, 3-year average39.22x
P/B, 3-year average2.19x
P/E, 5-year average23.35x
P/B, 5-year average1.59x
Profitability
Operating margin (excl. other income)14.80%
Operating margin (incl. other income)15.12%
EBITDA margin15.30%
Pre-tax margin6.98%
Net profit margin4.60%
Net margin, latest quarter3.81%
ROE11.17%
ROCE12.16%
ROA3.77%
ROE, 3-year average3.45%
ROCE, 3-year average8.09%
ROA, 3-year average1.14%
ROE, 5-year average12.19%
ROCE, 5-year average13.76%
ROA, 5-year average4.35%
ROIC (approx.)8.80%
Tax rate31.83%
Other income / net worth0.72%
Growth
Sales growth (latest year)6.22%
Profit growth (latest year)215.56%
Sales CAGR, 3 years-1.56%
Sales CAGR, 5 years8.21%
Profit CAGR, 3 years7.21%
Profit CAGR, 5 years7.58%
Sales growth QoQ-3.91%
Profit growth QoQ-20.76%
Sales growth YoY (latest quarter)14.32%
Profit growth YoY (latest quarter)11.58%
Per share
EPS (TTM)Rs 8.84
EPS (latest year)Rs 8.65
EPS (latest quarter)Rs 1.86
EPS, 3-year averageRs 2.61
EPS, 5-year averageRs 68.74
Book value per shareRs 81.88
Sales per shareRs 192.15
Cash flow per shareRs 28.10
Free cash flow per shareRs 17.56
Dividend per share (latest year)Rs 4.00
Dividend per share, 3-year averageRs 3.73
Dividend per share, 5-year averageRs 13.16
Dividends
Dividend payout46.23%
Dividend payout, 3-year average88.76%
Dividend payout, 5-year average60.80%
Efficiency
Asset turnover0.78x
Fixed asset turnover1.29x
Inventory turnover3.08x
Inventory days119 days
Debtor days8 days
Debtors turnover47.21x
Creditor days136 days
Cash conversion cycle56 days
Working capital days-56 days
Leverage
Total debtRs 92,382 Cr
Cash and bankRs 10,058 Cr
Net debtRs 82,324 Cr
Debt to equity0.90x
Net debt / EBITDA2.24x
Interest coverage3.36x
Current ratio (filing 2026-03-31)0.75x
Quick ratio (filing 2026-03-31)0.26x
Trade payables (filing 2026-03-31)Rs 34,810 Cr
Owners' fund to total sources34.46%
Debt to assets31.16%
Cash flow
Cash from Operating Activity (latest year)Rs 35,064 Cr
Cash from Investing Activity (latest year)Rs -14,397 Cr
Cash from Financing Activity (latest year)Rs -21,387 Cr
Net Cash Flow (latest year)Rs -720 Cr
Free cash flow (latest year)Rs 21,906 Cr
FCFE (approx.: FCF + change in debt)Rs 19,487 Cr
Cash from ops / profit, 5 years2.45x
Sales to cash flow6.62x
Statement figures
Net sales (TTM)Rs 239,756 Cr
Net sales (latest year)Rs 232,140 Cr
Sales (latest quarter)Rs 60,794 Cr
Operating profit excl. other income (latest year)Rs 34,352 Cr
Operating profit (latest quarter)Rs 9,264 Cr
Other income (TTM)Rs 485 Cr
EBITDA (TTM)Rs 36,674 Cr
PBDT (TTM)Rs 29,589 Cr
Profit before tax (TTM)Rs 16,739 Cr
Tax (latest year)Rs 5,083 Cr
Net profit (TTM)Rs 11,035 Cr
Net profit (latest year)Rs 10,794 Cr
Net profit (latest quarter)Rs 2,318 Cr
Depreciation (TTM)Rs 12,850 Cr
Depreciation (latest quarter)Rs 3,640 Cr
Interest (TTM)Rs 7,085 Cr
Cost of goods sold (latest year)Rs 145,437 Cr
Total expenditure (latest year)Rs 197,788 Cr
Total income (latest year)Rs 232,878 Cr
Share capitalRs 1,247 Cr
ReservesRs 100,920 Cr
Shareholders' fundsRs 102,168 Cr
Total assetsRs 296,515 Cr
Net blockRs 179,908 Cr
Capital work in progressRs 28,497 Cr
InvestmentsRs 7,089 Cr
ReceivablesRs 4,917 Cr
InventoryRs 47,249 Cr
Other liabilitiesRs 101,965 Cr
Shares outstanding (crore)1,247.77
Ownership
Promoter holding32.94% (-0.25 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 20.1 is at the 54th percentile of its own 7.8-year range (median 19.4, low 2.7, high 90.2).
P/B 2.17 is at the 74th percentile (median 1.77).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodTATASTEELNifty 50Difference
1 week-5.3%-2.8% -2.5 pts
1 month-3.3%-6.8% +3.5 pts
3 months-6.2%-7.6% +1.4 pts
6 months-7.2%+0.4% -7.6 pts
1 year+3.3%-9.9% +13.2 pts
2 years+15.6%-13.6% +29.2 pts
3 years+38.1%+14.2% +23.9 pts
5 years+37.2%+27.9% +9.3 pts
412 mutual fund schemes hold about ₹25,360 Cr. Over three months 118 bought more and 104 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Large Cap Fund1.49%1,197 +17%
HDFC Flexi Cap Fund0.88%997 -17%
SBI Contra Fund2.02%960 +4%
Kotak Arbitrage Fund(M1.10%830 +96%
SBI Balanced Advantage Fund1.78%753 +4%
ICICI Pru Value Fund1.22%731 +9%
HDFC Balanced Advantage Fund0.65%698 +4%
HDFC Focused Fund2.09%590 +1%
ICICI Pru Multi Asset Allocation Fund0.67%586 +21%
ICICI Pru Balanced Advantage Fund(M0.75%566 +30%
ICICI Pru Arbitrage Fund1.55%540 +184%
Mirae Asset Large Cap Fund1.34%518 +711%
SBI Arbitrage Fund1.05%495 +152%
ICICI Pru Focused Fund2.74%492 +76%
UTI Nifty 50 Index Fund1.38%408 +4%
UTI Nifty200 Momentum 30 Index Fund4.75%400 +3%
ICICI Pru Aggressive Hybrid Fund(A0.74%388 +145%
Nippon India Large Cap Fund0.70%378 -27%
HDFC Arbitrage Fund(M1.47%376 +6%
Franklin India Flexi Cap Fund1.87%363 +4%
SBI Large Cap Fundd0.62%344 +4%
HDFC Nifty 50 Index Fund1.38%334 +4%
ICICI Pru Large & Mid Cap Fund0.87%293 +7%
HDFC Small Cap Fund0.68%285 +1%
Axis ELSS-Tax Saver Fund0.86%280 -19%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2023-08-17Vijay Kumar SharmaDirectorbuy10,000Rs 0.12 CrMarket Purchase
2022-12-05Sanjeev J. KapurImmediate relativebuy10,000Rs 0.11 CrMarket Purchase
2022-05-24Farida KhambataDirectorbuy8,000Rs 0.82 CrMarket Purchase
2022-05-23Farida KhambataDirectorbuy2,000Rs 0.21 CrMarket Purchase
2022-05-19Farida KhambataDirectorbuy2,000Rs 0.23 CrMarket Purchase
2022-05-18Farida KhambataDirectorbuy1,000Rs 0.12 CrMarket Purchase
2022-05-17Farida KhambataDirectorbuy2,000Rs 0.23 CrMarket Purchase
2022-03-15T.V. Srinivas Shenoy-other2,750Rs 0.34 CrRevokation of Pledge
2022-02-28T.V. Srinivas Shenoy-other2,000Rs 0.24 CrPledge Creation
2021-11-25FARIDA KHAMBATADirectorbuy5,000Rs 0.59 CrMarket Purchase
2021-09-23Premanshu SekharEmployees/Designated Employesell2,000Rs 0.26 CrMarket Sale
2021-03-25Tata Sons Private LimitedPromotersother7,560,000Rs 546.70 CrRevokation of Pledge
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹60,794 Cr +14.3% vs Jun 2025. Net profit ₹2,385 Cr +18.8%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
JSW Steel Ltd311,16025.811.0 %
Jindal Steel Ltd115,27037.39.70 %
Steel Authority of India Ltd75,10115.67.92 %
Jindal Stainless Ltd60,86718.519.3 %
Sarda Energy & Minerals Ltd17,63115.716.9 %
Vedanta Iron & Steel Ltd12,846%
NMDC Steel Ltd12,2471463.06 %
Sandur Manganese & Iron Ores Ltd8,88112.024.2 %
Jai Balaji Industries Ltd5,77939.59.57 %
Prakash Industries Ltd2,1786.969.56 %
Manaksia Steels Ltd73313.513.4 %
Scan Steels Ltd30413.47.05 %
KIC Metaliks Ltd10833.64.01 %
Ankit Metal & Power Ltd27-34.2 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-06-12Dividend - Rs 4 Per Share
2025-06-06Dividend - Rs 3.60 Per Share
2024-06-21Dividend - Rs 3.60 Per Share
2023-06-22Annual General Meeting/Dividend - Rs 3.60 Per Share
2022-07-28Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share0.1000
2022-06-15Annual General Meeting/Dividend - Rs 51 Per Share
2021-06-17 Annual General Meeting/Dividend - Rs 25 Per Share
2020-08-06 Dividend - Rs 10 Per Share
2019-07-04 Annual General Meeting/Dividend - Rs 13 Per Share
2018-07-05 Annual General Meeting / Dividend- Rs 10 Per Share
2018-01-31 Rights - 4:25 Fully Paid Up Shares @ Premium Rs 500/- Per Share / 2:25 Partly Paid Up Shares @ Premium Rs 605/- Per Share
2017-07-20 Annual General Meeting/Dividend - Rs 10/- Per Share
2016-07-28 Annual General Meeting/Dividend Rs 8/- Per Share
2015-07-23Annual General Meeting / Dividend - Rs. 8/- Per Share
2014-07-14Annual General Meeting / Dividend - Rs.10/- Per Ordinary Share
2013-07-15Annual General Meeting / Dividend - Rs.8/- Per Ordinary Share
2012-07-16Annual General Meeting/Dividend Rs 12 Per Share
2011-07-04Annual General Meeting/Dividend Rs 12 Per Share
2010-07-12Annual General Meeting And Dividend Rs.8/- Per Share
2009-07-06Agm/Div-Rs.16/- Per Share
2008-07-18Agm/Dividend - 160%
2007-10-29Right-Eq1:5 & 9ccps:10eq
2007-06-08Agm/Div Fin-130%+Spl-25%
2006-05-26Agm/Dividend-130% Purpose Revised
DateTypeWhat it says
2026-10-01Scheme of ArrangementPronouncement of Order by the Hon ble National Company Law Tribunal, Mumbai Bench, approving and sanctioning the Scheme of Amalgamation amongst Tata S...
2026-10-01Amalgamation/MergerPronouncement of Order by the Hon ble National Company Law Tribunal, Mumbai Bench, approving and sanctioning the Scheme of Amalgamation amongst Tata S...
2026-09-29AcquisitionAcquisition of equity shares in T Steel Holdings Pte. Ltd
2026-09-29LitigationDisclosure under Regulation(s) 30 read with 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulat...
2026-09-18LitigationDisclosure under Regulations 30 read with 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulatio...
2026-09-18General UpdatesDisclosure under Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20...
2026-09-17Concall / analyst meetIntimation of Schedule of Analyst / Institutional Investor Meeting under the Securities and Exchange Board of India (Listing Obligations and Disclosur...
2026-09-17Concall / analyst meetIntimation of Schedule of Analyst / Institutional Investor Meeting under the Securities and Exchange Board of India (Listing Obligations and Disclosur...
2026-09-17Concall / analyst meetIntimation of Schedule of Analyst / Institutional Investor Meeting under the Securities and Exchange Board of India (Listing Obligations and Disclosur...
2026-09-15Concall / analyst meetIntimation of Schedule of Analyst / Institutional Investor Meeting under the Securities and Exchange Board of India (Listing Obligations and Disclosur...
2026-09-04Concall / analyst meetIntimation of Schedule of Analyst / Institutional Investor Meeting under the Securities and Exchange Board of India (Listing Obligations and Disclosur...
2026-08-31Diversification/DisinvestmenDivestment of entire stake held in Jamshedpur Football and Sporting Private Limited, wholly owned subsidiary
2026-08-27AcquisitionAcquisition of equity stake in T Steel Holdings Pte. Ltd
2026-08-27Change in ManagementChanges in Senior Management Personnel of Tata Steel Limited
2026-08-27Concall / analyst meetSchedule of meet
2026-08-26LitigationDisclosure under Regulation 30 read with Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)...
2026-08-26LitigationDisclosure under Regulations 30 and 51 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-25LitigationDisclosure under Regulation 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 201...
2026-08-20AcquisitionAcquisition of equity stake in TM International Logistics Limited
2026-08-14Diversification/DisinvestmenDivestment of entire stake held in Jamshedpur Football and Sporting Private Limited, wholly owned subsidiary
2026-08-14Press ReleaseA press release dated August 14, 2026, titled "Tata Steel transfers ownership of Jamshedpur Football & Sporting Pvt. Ltd. to Churchill Brothers FC".
2026-08-14Committee Meeting UpdatesOutcome of the Meeting of Committee of Directors - Divestment of entire stake held in Jamshedpur Football and Sporting Private Limited, wholly owned s...
2026-08-13Concall / analyst meetSchedule of meet
2026-08-07Concall / analyst meetIntimation of Schedule of Analyst / Institutional Investor Meeting under the Securities and Exchange Board of India (Listing Obligations and Disclosur...
2026-08-06Concall / analyst meetTranscript of Tata Steel 1QFY2027 Earnings Discussion
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.62
Max pain (expiry 2026-10-27)190
Largest call open interest at200
Largest put open interest at180
Implied volatility, at the money29.6%
Underlying at snapshot178.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-2919,461
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Tata Steel Ltd?

Tata Steel Ltd (TATASTEEL) has a market capitalisation of Rs 2,34,690 Cr. at the 2026-10-01 close.

What is the P/E ratio of Tata Steel Ltd?

Tata Steel Ltd trades at a P/E of 19.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Tata Steel Ltd's latest quarterly results?

In the Jun 2026 quarter, Tata Steel Ltd sales was Rs 60,794 Cr (+14.3% vs Jun 2025) and net profit was Rs 2,385 Cr.

What is the 52-week high and low of Tata Steel Ltd?

The 52-week high is Rs 224.40 and the 52-week low is Rs 160.06.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03