Tata Steel has announced strong financial and operational performance for the first quarter of FY27, supported by higher domestic deliveries, improved profitability and continued focus on value-added products. The company has also approved an investment of approximately ₹33,873 crore to expand the steelmaking capacity of Neelachal Ispat Nigam Limited (NINL) by 4.8 million tonnes per annum (MTPA), taking its total capacity to 6.2 MTPA.
The expansion marks the first phase of growth at NINL and is aimed at strengthening Tata Steel’s presence in the long products segment, particularly the growing retail market where demand for branded products continues to rise. Despite a challenging global business environment, including supply chain disruptions and higher input costs due to developments in West Asia, Tata Steel delivered a sequential improvement in EBITDA per tonne for the third consecutive quarter. The company reported consolidated revenue of ₹60,794 crore and EBITDA of ₹9,370 crore during the quarter, with EBITDA increasing 25% compared to the same period last year.
India remained the company’s strongest growth market, with domestic deliveries rising 11% year-on-year to 4.85 million tonnes. Strong market demand, an agile sales strategy and an improved product mix helped increase net steel realisations by ₹5,991 per tonne over the previous quarter.
The Automotive & Special Products business delivered its best-ever first-quarter performance, supported by a 21% rise in sales of high-end steel products. Tata Steel’s branded portfolio also recorded healthy growth, with Tata Tiscon and Tata Steelium registering more than 30% year-on-year growth. The company’s digital commerce platforms, Aashiyana and DigECA, generated gross merchandise value of nearly ₹2,200 crore, an increase of 61% over the previous year. NINL also delivered a strong quarterly performance, reporting EBITDA of ₹498 crore with an EBITDA margin of 29%, providing confidence for the approved expansion project.
Commenting on the performance, TV Narendran, Chief Executive Officer and Managing Director, said the company continued to perform well despite global uncertainties. He said India remained the backbone of Tata Steel’s business, supported by strong domestic demand, improving product mix and growing sales of branded products. He added that the NINL expansion will strengthen the company’s position in high-margin long products and support future growth.
Chief Financial Officer Koushik Chatterjee said India EBITDA improved significantly during the quarter to ₹19,162 per tonne. He noted that overseas operations also showed signs of improvement. Tata Steel UK reduced its EBITDA loss through better pricing and operational measures despite production disruptions, while the Netherlands business is working closely with regulators to restart its Direct Sheet Plant.
During the quarter, Tata Steel invested around ₹3,579 crore in capital expenditure. Net debt stood at ₹84,173 crore, with the net debt-to-EBITDA ratio improving to 2.3 times, remaining below the company’s targeted range. Group liquidity remained strong at ₹45,950 crore, including cash and cash equivalents of ₹13,221 crore.
Tata Steel continues to participate in worldsteel’s Climate Action programme, focusing on reducing the carbon footprint of its operations and products. The company has outlined a long-term goal of achieving net-zero emissions by 2045, supported by a series of technology-driven initiatives and process improvements.
With an annual crude steel capacity of approximately 35 million tonnes, Tata Steel is among the leading global steel producers, with a presence across multiple geographies. The group reported consolidated revenues of around US$26 billion for the financial year ending March 31, 2025, and employs more than 76,000 people worldwide.