Tata Steel records a profit of Rs 5,055 crore in Q2FY27, driven by robust domestic growth. Consolidated revenue hit Rs 65,436 crore, with EBITDA rising 14% quarter-on-quarter, demonstrating resilience amid global market volatility.

Tata Steel Financial Performance Q2FY27

Steel major Tata Steel recorded a profit after tax of Rs 5,055 crore from its Indian operations for the July–September quarter of the 2026-27 financial year (Q2FY27), supported by volume growth across domestic segments despite seasonal weakness and volatile global market conditions. Consolidated revenues for the steelmaker stood at Rs 65,436 crore during the second quarter, while consolidated EBITDA reached Rs 10,665 crore, registering a 14 per cent quarter-on-quarter increase and a 17 per cent year-on-year growth. The overall consolidated net profit for the period stood at Rs 3,700 crore On the domestic front, the company achieved revenues of Rs 42,653 crore and an EBITDA of Rs 10,634 crore, reflecting an operating margin of 25 per cent. Crude steel production in India expanded 7 per cent quarter-on-quarter to 6.18 million tons, while domestic deliveries climbed 16 per cent quarter-on-quarter to 5.98 million tons.

Leadership Commentary

T V Narendran, Chief Executive Officer and Managing Director of Tata Steel, said, "We delivered strong growth in deliveries and earnings this quarter, backed by a resilient supply chain and close customer engagement, despite ongoing geoeconomic uncertainty and higher raw material costs. Deliveries grew 9% QoQ to ~7.92 million tons and EBITDA was up 14% QoQ to ~Rs 10,665 crores."

"India continued to be the cornerstone of our performance with volumes growing 16% QoQ despite a seasonally softer quarter, reflecting the strength of our market presence and customer reach. Our Automotive & Special Products vertical achieved 'best ever' 2Q volumes of ~1.1 million tons, driven by 26% growth in hi-end sales," he added.

International and Operational Overview

Internationally, operations in the Netherlands posted revenues of 1,395 million euros and an EBITDA of 72 million euros, aided by the restart of the Direct Sheet Plant in August. The United Kingdom business recorded revenues of 411 million pounds, with an EBITDA loss of 56 million pounds amid subdued demand, elevated inventory levels, and higher imports.

Koushik Chatterjee, Executive Director and Chief Financial Officer, said, "Tata Steel delivered resilient performance in a volatile operating environment. Higher volumes in India and operational normalisation in the Netherlands helped offset elevated input costs. Consolidated EBITDA for the quarter rose 14% QoQ to Rs 10,665 crores and remained above Rs 13,000 per ton."

Strategic Outlook

"This was primarily driven by strength of the India business, which delivered EBITDA of Rs 17,790 per ton and a margin of 25%, despite a seasonally softer quarter. Neelachal Ispat Nigam Limited generated EBITDA of Rs 318 crores, and the amalgamation of NINL with Tata Steel remains on track for completion during the financial year, subject to final NCLT approval," Chatterjee stated.

For the half year, consolidated revenues stood at Rs 1,26,231 crore and EBITDA reached Rs 20,035 crore, representing a 21 per cent year-on-year rise. Tata Steel deployed Rs 3,280 crore toward capital expenditure during the quarter, bringing the half-year capex spend to Rs 6,860 crore, while net debt stood at Rs 91,423 crore with liquidity of Rs 40,076 crore.

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