Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. India
  4. Bombay Stock Exchange
  5. Tata Steel Limited
  6. News
  7. Summary
    500470   INE081A01020

TATA STEEL LIMITED

(500470)
  Report
End-of-day quote Bombay Stock Exchange  -  2023-02-07
111.50 INR   +0.04%
02/08Jefferies Adjusts Tata Steel's Price Target to INR145 From INR150, Keeps at Buy
MT
02/07Indian Equities Close Lower for Second Time, Dragged by Weak Auto, FMCG Stocks
MT
02/07Transcript : Tata Steel Limited, Q3 2023 Earnings Call, Feb 07, 2023
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

India's Tata Steel posts 87% profit plunge, misses estimates as prices drop

10/31/2022 | 07:53am EST
FILE PHOTO: A company logo is seen outside the Tata steelworks near Rotherham in Britain

BENGALURU (Reuters) - India's Tata Steel on Monday missed analysts' quarterly earnings estimates by a wide margin as profit slumped more than 87% due to a drop in steel prices amid a global economic slowdown.

Concerns over slowdown in key economies, geopolitical issues and seasonal factors have led to a "volatile operating environment", Chief Executive Officer T.V. Narendran said.

Tata Steel, established in 1907, reported a consolidated net profit of 15.14 billion Indian rupees ($182.87 million) for the three months to Sept. 30, compared with analysts' average estimate of 27.32 billion rupees, according to Refinitiv IBES data.

"Utilisation of high-cost inventory of raw material and steel coincided with drop in realisations to result in margin decline across geographies," Chief Financial Officer Koushik Chatterjee said.

Tata Steel has an annual crude steel capacity of 34 million tonnes per annum and last month approved combining six of its subsidiaries with the parent company to improve operational efficiency, optimise raw material utilisation and cut costs.

The company, which has steelmaking facilities in the Netherlands and the United Kingdom besides India, said deliveries were lower from the previous quarter in Europe, in part due to seasonal factors and subdued demand in the region.

Second-quarter total revenue from operations fell to 598.78 billion rupees from 603.87 billion rupees last year.

Rival JSW Steel posted a surprise quarterly loss earlier this month as the metal's prices slumped, and said that imposition of export duty on finished steel products in May had made overseas shipments unattractive.

The environment should gradually improve in the second half of fiscal 2023 due to government measures and restocking, with margins benefiting across geographies from a recovery in Indian markets and a favourable movement in raw material prices, especially coking coal, Chatterjee added.

($1 = 82.7930 Indian rupees)

(Reporting by Nallur Sethuraman and Anuran Sadhu in Bengaluru; Editing by Vinay Dwivedi)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
JSW SA 0.40% 59.82 Delayed Quote.2.58%
JSW STEEL LIMITED 2.41% 731.7 End-of-day quote.-4.71%
TATA STEEL LIMITED 0.04% 111.5 End-of-day quote.-1.02%
All news about TATA STEEL LIMITED
02/08Jefferies Adjusts Tata Steel's Price Target to INR145 From INR150, Keeps at Buy
MT
02/07Indian Equities Close Lower for Second Time, Dragged by Weak Auto, FMCG Stocks
MT
02/07Transcript : Tata Steel Limited, Q3 2023 Earnings Call, Feb 07, 2023
CI
02/07Tata Steel Swings to Loss in Fiscal Q3; Shares Fall 4%
MT
02/06INDIA STOCKS-Indian shares rise ahead of RBI's rate decision; Adani stocks arrest slide
RE
02/06Indian shares set to rise ahead of RBI's rate decision
RE
02/06India's Tata Steel reports Q3 loss as soft demand weighs
RE
02/06Tata Steel Limited Reports Earnings Results for the Third Quarter and Nine Months Ended..
CI
02/06Tata Steel Limited agreed to acquire 00.002% stake in Angul Energy Limited.
CI
02/02Tata Steel Limited Appoints Ms. Bharti Gupta Ramola as an Independent Director
CI
More news
Analyst Recommendations on TATA STEEL LIMITED
More recommendations
Financials
Sales 2023 2 305 B 27 879 M 27 879 M
Net income 2023 119 B 1 433 M 1 433 M
Net Debt 2023 695 B 8 407 M 8 407 M
P/E ratio 2023 14,2x
Yield 2023 2,95%
Capitalization 1 363 B 16 481 M 16 481 M
EV / Sales 2023 0,89x
EV / Sales 2024 0,90x
Nbr of Employees 65 000
Free-Float 64,8%
Chart TATA STEEL LIMITED
Duration : Period :
Tata Steel Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TATA STEEL LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 111,50 INR
Average target price 123,99 INR
Spread / Average Target 11,2%
EPS Revisions
Managers and Directors
Thachat Viswanath Narendran Chief Executive Officer, Executive Director & MD
Koushik Chatterjee Chief Financial Officer & Executive Director
Natarajan Chandrasekaran Chairman
Vinay V. Mahashabde Chief Research & Development, Technology Officer
Jayanta Banerjee Chief Information Officer
Sector and Competitors
1st jan.Capi. (M$)
TATA STEEL LIMITED-1.02%16 481
NUCOR CORPORATION26.17%42 076
ARCELORMITTAL10.80%23 838
STEEL DYNAMICS, INC,26.95%21 776
NIPPON STEEL CORPORATION14.99%18 468
POSCO HOLDINGS INC.7.78%17 911