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Results Presentation Financial quarter ended 31st December 2025 Tata Steel Colors Pvt. Ltd. supplied advanced roofing profiles for the new terminal at Trichy International Airport, India Feb 06, 2026
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Statements in this presentation describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand / supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/or other incidental factors Safe Harbour Statement
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3QFY26 Results Presentation We are committed to ‘Zero Harm’ Journey towards excellence in Safety & Health of employees1 51% LTIFR* in the last 15 years Fatalities2 4 4 5 4 5 5 FY21 FY22 FY23 FY24 FY25 9M FY26 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 9MFY26 Safety & Health Excellence Recognition 2025 Tata Steel, the only Indian steelmaker to achieve this recognition for the third consecutive year Holistic measures for a safe and healthier workforce Process Safety Behavioral Safety Employee well-being Advanced Level Process Safety training conducted in collaboration with NEBOSH3 Transporter meet with 100+ logistics partners to reinforce safe transportation practices for Process Safety Management 140+ health awareness sessions organized for employees across all locations Note: 1Employees refers to Permanent and Contract workforce, *Lost Time Injury Frequency Rate per million-man hours worked, for Tata Steel Group, 2Fatalities covers Tata Steel Standalone, SE Asia and Europe; TSML included from 1st Sep 2023 and Tinplate Company of India Ltd. and Tata Metaliks included from 1st Oct 2023,3NEBOSH - National Examination Board in Occupational Safety and Health 3
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3QFY26 Results Presentation Improving quality of life of our communities Social capital and scalable change models to enable deep societal impact Note: 1Cumulative as on 9MFY26, 2CSR Spend by Tata Steel Standalone, SDG – Sustainable Development Goals, SABAL aims to create a platform for persons with disability through a participative atmosphere and inclusive infrastructure that enables skilling, employability and financial independence, PwD – Persons with Disabilities, *In collaboration with CEPT university 4 43 lakh+ lives impacted1 68 targets prioritised across 15 relevant UN SDG goals >₹2,300 crores spent2 over last 5 years Gender and Empowerment 2,800+ women enrolled in leadership trainings Rural and Urban Education 3,900+ out of school children brought back to education system Tribal Identity 3 intellectual properties* based on know how of tribal community Grassroots Sports 74,000+ children & youth engaged in rural sports Public Infrastructure 600+ structures completed for community Water Resources Created ~30 mn cubic feet storage capacity Climate Resilient Livelihoods 34,000+ households adopted climate resilient agri practices Dignity for Disabled 18,000+ PwD connected via SABAL program Unlocking Public Entitlements ~₹16,000 crores public funds unlocked directly to communities Public Health and Nutrition 93% redressal rate in high-risk cases among pregnant women and children
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The Dhono Dhanyo Auditorium in Kolkata, exemplary architectural design reinforced by 1,200 tons of Tata Structura steel STRATEGIC UPDATE
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Leadership in Technology & Digital Leadership in India Leadership in Sustainability Robust Financial HealthBecome Future Ready Focused on creating Sustainable Value Consolidate position as global cost leader
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3QFY26 Results Presentation Sustainability is at the core of our strategy Route and pace of decarbonisation being calibrated across geographies Note: R&D – Research & Development, EAF – Electric Arc Furnace, EASyMelt is an alternative to direct reduction and substitutes coke with syn gas in blast furnace, HIsarna is a new ironmaking technology that aims to reduce carbon emissions 7 Water, Air & Dust Employees, Community Circular Economy Supply Chain Biodiversity R&D, technology Net Zero emissions by 2045 India : Pursuing multiple initiatives to achieve ‘responsible’ growth Process improvement Carbon direct avoidance Carbon Capture & Utilisation Commission scrap-based EAF plant in Ludhiana, Punjab» » Higher scrap in Basic Oxygen Furnace (BOF) Upto 2045 Reducing coal usage by switching to bio char and natural gas» » Increase the proportion of renewable energy Collaborate with academia on new technologies » » Scale up breakthrough tech like HIsarna & EASyMelt Introduce alternate iron making technology» » Expand pilots for Carbon Capture Utilisation & Storage Tata Steel Board approved set up of 1 MTPA demo plant on HIsarna technology in India Upto 2030
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3QFY26 Results Presentation Progressing towards sustainable steelmaking in UK and Netherlands Note: TSN – Tata Steel Netherlands, JLoI – Joint Letter of Intent, EU – European Union, EAF – Electric Arc Furnace, *Maximum possible Scope 1 emissions are ~ 12.6 mn tons 8 In UK, transition to scrap-based EAF steelmaking to reduce 50 million tons CO2e over a decade EAF project update Signed non-binding JLoI with Dutch govt and the province of North Holland on decarbonization and health measures TSN Phase 1 details Integrated project – Transition to low carbon production and improve healthy living environment around Ijmuiden Funding – Govt support upto €2 bn, EU Innovation fund and remaining through internal accruals and financing Emissions – Reduction in Annual scope 1 CO2 emissions by 5.4 mn tons (>42%) in 2030 vs. possible emissions* EAF project – Transition to scrap based Electric Arc Furnace of around 3 MTPA capacity Funding – Project cost is £1.25 billion with £500 million funding from the UK Government Emissions – Upon commissioning the EAF, emission intensity to be ~0.4 tCO2e per ton of crude steel
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3QFY26 Results Presentation Tata Steel is scaling up in India to capitalise on growth opportunity Note : TSK – Tata Steel Kalinganagar, EAF – Electric Arc Furnace, NINL – Neelachal Ispat Nigam Limited, TSM – Tata Steel Meramandali 9 16 40 5 5 0.75 TSK Ph 2 EAF under construction Commissioned Flats Longs Capacity expansion projects (ongoing / plan) ▪ 4.8 MTPA expansion @ NINL o In-principle Board approval received in Dec’25 o Strategic complex for long products expansion ▪ 0.75 MTPA EAF @ Ludhiana o Hot Trial of mill started o Facility to be commissioned in 1HFY27 ▪ 2.5 MTPA finished steel (flat steel) expansion @ TSM o Plan to setup 2.5 MTPA Thin slab caster and rolling facility ▪ Growing on the west coast via strategic partnership with Lloyds Metals & Energy o Develop new iron ore hub in Gadchiroli o Develop greenfield capacity of 6 MTPA plant in Maharashtra EAF at Ludhiana NINL Strategic partnerships
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3QFY26 Results Presentation …along with investment in downstream to drive sector leading returns Note : CRM – Cold Rolling Mill, Zn – Zinc, Al – Aluminum, Mg – Magnesium, Si – Silicon, CAL – Continuous Annealing Line, CGL – Continuous Galvanising Line, DFT – Direct Forming Technology, LRPC - Low Relaxation Pre- stressed Concrete, JV – Joint Venture 10 Hot rolled coil Cold Rolled Tubes Coated Color Coated & Tinplate Price ladder of select steel products ▪ 2.2 MTPA CRM complex at Kalinganagar CAL and CGL #1 ramping up well» Commissioning of CGL #2 → high end coated products like Zn-Al-Mg and Al-Si coated steels» ▪ Tubes : 1.5 MTPA → 4 MTPA Capacity expansion via asset light model and focus on product enrichment» ▪ 0.7 MTPA HRPGL complex in Maharashtra Hot Rolled Pickling and Galvanising Line under construction » ▪ Strategic investment in Color coated business Erstwhile 50% JV → subsidiary of Tata Steel» Facilities at Jamshedpur, Khopoli, Angul and Sahibabad » ▪ Tinplate : 0.4 MTPA → 1 MTPA Phase 1 expansion from 0.4 to 0.7 MTPA is underway at Jamshedpur » ▪ Wires : 0.6 → 1 MTPA Focus on expanding product mix to cater to hi- end construction and innovative solutions» 0.3 MTPA capacity addition during the year, including 0.1 MTPA DFT line in Jamshedpur» Cater to customers in sectors like automotive, construction and solar » 42 KTPA LRPC line commissioned and under ramp up »
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3QFY26 Results Presentation Customer centricity : Collaborating with MSME to shape India’s manufacturing 11 MSME make up 30% of GDP 35% of Manufacturing 46% of Exports Branded presenceHot RolledDownstream Value seeking segments 3QFY2025 2QFY2026 3QFY2026 Tata Steelium sales in million tons 42% Deeper engagement with MSME customers through DigECA 3.0 Enhancing presence in Downstream » Scale-up of Steelium with ramp-up of TSK CAL facility and channel augmentation » Maximizing presence in value-added segment through improved product basket in cold rolled Redefining steel buying for MSMEs » Enabled Customers with a direct line of sight with Tata Steel » Embedded financing options and real-time order visibility » Omni - channel experience with integrated tech support Note : TSK – Tata Steel Kalinganagar, CAL – Continuous Annealing Line, MSME – Micro, Small and Medium Enterprises
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3QFY26 Results Presentation Embracing Digital and Technology to create and unlock value Note: Aashiyana is a One stop shop for Individual homebuilders and DigECA is a One stop digital steel buying solution for MSME customers, B2B: Business to Business; B2C: Business to Consumer; B2SME: Business to Small and Medium Enterprises Manufacturing Excellence Leveraging AI to drive improvement in Yield, Energy efficiency, Throughput, Quality and Productivity (YETQP), Safety & Sustainability Functional Excellence Modernising processes and the technology stack to enable productivity and global collaboration and reporting Customer Experience Digital platforms to enhance customer experience, resolve complaints, improve interactions for overall customer satisfaction Human Resources Finance Procurement B2C B2SME B2B 12
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~8,600 Raw material efficiency Stores, Repairs & Maintenance Sales mix, Supply chain & Others Power & Fuel Heavy end closure (TSUK) 9MFY26 Total 3QFY26 Results Presentation Enhancing competitiveness through cost and efficiency programs Note : USD INR = 87.25, * Improvement in costs is computed vs. average FY2025 baseline 13 Targeted cost transformation program across geographies Rs 11,500 crs or $1.3 billion Progressing as per plan delivering an improvement of ~ Rs 8,600 crores for the nine months ended FY2026 Rs crores 93% compliance to 9MFY26 plan 35% 26% 39% India UK Netherlands
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3QFY26 Results Presentation Financial Management to enable returns across cycle Note : 1Total Shareholder Returns sourced from Bloomberg as of 29th January 2026 and considers dividend reinvestment 14 Balance sheet management Total Shareholder Returns1 (%) Capital allocation Operational excellence Tata Steel Nifty 50 SensexOptimise Capital Structure & Cost Onshoring debt to drive efficiency Value accretive investments Capex of Rs 10,370 crores in 9MFY26 Optimise working capital Consolidated EBITDA improved by ~300 bps YoY for the 9MFY26 despite global headwinds 30 13 12 5 years 27 13 13 10 years 18 12 13 25 years
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3QFY26 Results Presentation People-Driven Impact: Enhancing Culture, Capability & Cost Efficiency Skilling for impact . ▪ Launch of an organization-wide Generative AI learning to accelerate adoption ▪ Capability building in emerging domains such as Electric Arc Furnace, Sustainability and Green steel Driving operational Excellence . ▪ Sustained cost efficiency & productivity via strategic workforce redesign and reskilling ▪ Availability of skill resource for growth projects per benchmark productivity Growing stronger together as One Tata steel . ▪ Fostering “One Tata Steel” synergy, through uniform culture code across geographies ▪ Launched “Global Leadership Development Programme”, platform to cultivate leaders with a global mindset and deep understanding of diverse cultural nuances 15
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BUSINESS UPDATE Tata Steel Netherlands has commissioned a new production line for packaging steel using its patented Trivalent Chromium Coating Technology, enabling more sustainable & regulation-ready manufacturing
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3QFY26 Results Presentation Firm raw material prices and divergent steel prices led to tight spreads Source: World Steel Association, IMF, Bloomberg, S&P, BigMint; China HRC export spread = China HRC export FOB – 1.6x Iron Ore (62% Fe CFR) – 0.8x Coal (Premium HCC CFR); China HRC domestic spread is with HRC domestic prices; EU HRC spot spreads = HRC (Germany) - 1.6x iron ore (fines 65%, R’dam) - 0.8x premium (HCC Aus) - 0.1x scrap (HMS, R’dam) ; EU spot spread incl. energy = EU HRC spot spread – Carbon cost – 0.5 x NG ($/Mwh) – 0.15 x Electricity ($/Mwh) 17 ▪ Global steel prices diverged during the October to December quarter ▪ US HRC prices crossed $1,000/t aided by tariffs while Germany prices moved closer to $750/t ▪ UK prices diverged from EU due to policy differential Steel prices (HRC, $/t) across key regions EU Steel spread including energy, carbon costs ▪ China HRC prices were mostly rangebound, exports reached a record high of 119 mn tons in 2025 ▪ Raw material prices were firmer during the quarter, with Iron ore above $100/t and Coking coal above $200/t ▪ Overall, this led to tight spreads across regions 300 700 1,100 1,500 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 US Domestic Germany domestic China export FOB China domestic UK Midlands 0 250 500 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 EU spread EU spread (with Energy, Carbon) China Export Spread China Domestic Spreads
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-1,000 0 1,000 2,000 1Q FY24 2Q FY24 3Q FY24 4Q FY24 1Q FY25 2Q FY25 3Q FY25 4Q FY25 1Q FY26 2Q FY26 3Q FY26 in kt 3QFY26 Results Presentation India steel demand continued to grow while EU, UK were subdued Sources: Joint Plant Committee, Eurofer, World Steel Association, *Estimate, EU – European Union 18 India net steel imports EU and UK net steel imports ▪ India apparent steel demand continued to grow aided by govt. spending and stimulus measures to boost consumption ▪ India turned net steel exporter in Oct’25 and 3-yr safeguard duty ranging 12% to 11% was announced in Dec’25 India EU & UK ▪ EU demand affected by seasonal and subdued macro; However, policy measures & CBAM improved sentiment ▪ UK demand remained weak amidst policy mismatch with EU, steel imports and US tariffs 0 2,000 4,000 6,000 1Q FY24 2Q FY24 3Q FY24 4Q FY24 1Q FY25 2Q FY25 3Q FY25 4Q FY25 1Q FY26 2Q FY26 3Q FY26* EU UKin kt
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3QFY26 Results Presentation In 3Q, India deliveries rose 9% QoQ crossing 6 million tons for 1st time Note : Auto and ancillaries incl. B2B and ECA sales, Wire & Specialty steel sales; Retail is B2C incl. Tiscon, Shaktee, Galvanised Plain Retail, Tubes & Wires; Construction & Infra is B2B sales to construction; Energy incl. Oil & Gas, Wind, Solar etc.; Engineering incl. Railways, Capital Goods etc.; Consumer Durables is sales to Furniture, Appliances; Packaging incl. Tinplate, High Tensile steel strapping, LPG, Drums & Barrels and Trade & Commercial is sales to rerollers, fabrication etc., B2B – Business to Business, ECA – Emerging Corp. accounts, B2C – Business to Consumer 19 Auto and ancillaries End use sectors (mn tons) Retail : Individual housebuilders Construction & Infrastructure Consumer Durables and Packaging Trade and Commercial 1.1 1.2 1.4 3QFY25 2QFY26 3QFY26 0.9 0.9 0.9 3QFY25 2QFY26 3QFY26 1.2 1.4 1.4 3QFY25 2QFY26 3QFY26 0.3 0.3 0.3 3QFY25 2QFY26 3QFY26 Energy and Engineering goods 0.8 0.9 0.9 3QFY25 2QFY26 3QFY26 0.5 0.5 0.5 3QFY25 2QFY26 3QFY26 Tata Steel India deliveries (mn tons) 0.47 0.32 0.60 3QFY25 2QFY26 3QFY26 5.3 5.6 6.0 ExportsDomestic
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3QFY25 2QFY26 3QFY26 0.9 2.4 9MFY24 9MFY25 9MFY26 5% 3QFY26 Results Presentation Auto: Consolidate market leadership via new downstream facilities Note : AHSS – Advanced High Strength Steel, UHSS – Ultra-High Strength Steel, HSS – High Strength Steel, TSK – Tata Steel Kalinganagar, CAL – Continuous Annealing Line, CGL – Continuous Galvanising Line, PV – Passenger Vehicle, CV – Commercial Vehicle, Auto Downstream constitutes cold-rolled, coated and galvanised products, VAVE – Value Analysis Value Engineering 20 ▪ Best-ever performances in 3QFY26 and 9MFY26 ▪ Commercial ramp-up of TSK CAL and CGL at record pace → 53% of downstream sales in 9MFY26 4Q FY25 1Q FY26 2Q FY26 3Q FY26 ▪ TSK CAL has received 17 new grade approvals including UHSS from key OEM customers ▪ TSK CGL received grade approvals from marquee OEMs; Supply initiated within 2 months of start-up ▪ Advanced technicalsupportfor current and future needsof OEMs ▪ Innovative coatings for UHSS grades with superior corrosion and temperature resistance OPTIBLANK (VAVE for CV OEM customer to improve yield) Quarterly sales rose 20% YoY and 16% QoQ On 9M basis, sales rose 5% on YoY basis 9MFY2024 9MFY2025 9MFY2026 Outer panels of a recently launched UV model AHSS & UHSS grades for Passenger Vehicle Structural Wider width cabin panels for Commercial Vehicles HSS grades for Passenger Vehicle Structurals Sales from TSK CAL and CGL 9M Downstream sales in Auto grew 8% YoY 8% 8% in mn tons in mn tons 16% 53% of Auto sales
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3QFY2025 2QFY2026 3QFY2026 3QFY26 Results Presentation Enhancing differentiation in Retail and Shaping construction practices 21 ▪ Tata Tiscon : Growing systematically and deepening consumer connect Tata Tiscon Retail sales 3QFY2025 2QFY2026 3QFY2026 Aashiyana GMV in Rs crores 84% ▪ Achieved ‘best-ever’ 3Q volumes during the quarter ▪ Extensive network of 45+ channel partners expanding across 10,000+ dealers and 3,400+ Express Counters ▪ Urja, a dealer finance program achieved strong momentum and presently, covers 700+ dealers ▪ Shaping construction practices via ready-to-use solutions Pioneering sustainable future with zero energy building solutions (Nest-In) Launched India’s 1st ever Mobile Bore Pile Cage → innovative and value-added construction solution Highest ever quarterly sales of Sm@rtFAB Note : GMV – Gross Merchandise Value in kt 3QFY2025 2QFY2026 3QFY2026 in kt
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3QFY26 Results Presentation Industrial Products & Projects: Growth via product development & customer service 22 Approval of Cold Rolled UHSS grade received from a major PV OEM within 6 months of CAL start-up ▪ Strong growth in value accretive segments such as Engineering 25%25% ▪ .. with strong momentum in appliances and solar ▪ Scaling up solutions play 3QFY2024 3QFY2025 3QFY2026 3QFY2024 3QFY2025 3QFY2026 Plate Fabricated sections for large and complex infrastructure solutions 10% 17% Grew 56% QoQ, healthy order pipeline across infrastructure projects ▪ Expanding in discerning segments (Oil & Gas & Shipbuilding) o Demand led shift to hard-to- make sour grades o Leveraging overseas orders o First International API order for supplies to Oman Note : API – American Petroleum Institute
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3QFY26 Results Presentation Downstream: Robust growth in discerning segment through value added play 23Note : IHT – Induction Hardened and Tempered Steel Tubes : Best-ever deliveries in 3Q and 9MFY26 Tinplate : Best-ever domestic volumes in 9MFY26 Wires : Best-ever quarterly deliveries in 3QFY26 Color coated : Best-ever deliveries in 9MFY26 9MFY2025 9MFY2026 16% o Dominant share in high value infrastructure projects o Supplies of high-tensile tubes to Mumbai -Ahmedabad Bullet train project 9MFY2025 9MFY2026 10% Achieved ‘best-ever 9M’ volumes in PAXEL edible oil cans, India’s first branded tinplate container 2QFY2026 3QFY2026 5% Best-ever quarterly volumes in IHT grade used in Automobiles 9MFY2025 9MFY2026 12% Wide range of products aided volumes during the year
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3QFY26 Results Presentation Tata Steel Consolidated Note : 1. Production Numbers: Standalone & Neelachal Ispat Nigam Limited - Crude Steel Production, Europe - Liquid Steel Production; SEA - Saleable Steel Production. 2. Raw material cost includes raw material consumed, and purchases of finished and semi-finished products. 3. Adjusted for changes on account of FX movement on intercompany debt / receivables 24 Key drivers for QoQ change: ▪ Revenues: declined by 3% due to drop in steel realisations partly offset by higher deliveries in India ▪ Raw material costs: moderated primarily driven by lower purchases in UK & Netherlands, partly offset by improved production in India ▪ Change in inventories: primarily driven by inventory buildup in India and Netherlands, which was partly offset by drawdown in UK operations (All figures are in Rs. Crores unless stated otherwise) 3QFY26 2QFY26 3QFY25 Production (mn tons)1 8.39 7.73 7.77 Deliveries (mn tons) 8.21 7.91 7.72 Total revenue from operations 57,002 58,689 53,648 Raw material cost2 22,987 23,447 23,429 Change in inventories (545) 979 501 Employee benefits expenses 6,353 6,349 6,072 Other expenses 20,008 19,018 17,742 EBITDA 8,309 9,106 5,994 Adjusted EBITDA3 8,270 8,968 7,155 Adjusted EBITDA per ton (Rs.) 10,069 11,343 9,263 Other income 501 364 221 Finance cost 1,747 1,775 1,804 Pre-exceptional PBT 4,009 4,643 1,798 Exceptional items (gain)/loss 140 420 126 Tax expenses 1,138 1,039 1,377 Reported PAT 2,730 3,183 295
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3QFY26 Results Presentation Consolidated 3QFY26 EBITDA1 stood at Rs 8,270 crores 1EBITDA adjusted for changes on account of FX movement on intercompany debt / receivables 25 8,968 8,270 2,628 - - 243 1,687 Adjusted EBITDA 2QFY26 Market impact Volume impact Others Adjusted EBITDA 3QFY26 ▪ Market impact relates to lower steel realisations especially in India and Netherlands ▪ Volume impact primarily on account of significant rise in volumes in India partly offset by decline in UK and Netherlands ▪ Run rate of Cost transformation has been consistent for the quarter ▪ Others relates to the improvement in operating costs including consumables, power & fuel in India and Netherlands
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3QFY26 Results Presentation Net debt stood at Rs 81,834 crores 26 95,643 92,598 81,834 619 4,302 10,765 638 Gross Debt Sep'25 Movement in leases Loan movement FX Impact and Others Gross Debt Dec'25 Cash, Bank & Current Investments Net Debt Dec'25
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3QFY26 Results Presentation Key financial credit metrices Note : All data is on consolidated basis; 1. FY21 incl. Southeast Asia Operations which is reclassified as continuing operations; Interest Coverage Ratio: EBITDA/ Interest 2. EBITDA on LTM basis 27 EBITDA Margin (%)1 EBITDA / ton (Rs.)1 Interest Coverage Ratio (x)1,2 19.8% 26.2% 13.4% 10.2% 11.8% 14.7% FY 21 FY22 FY23 FY24 FY25 9MFY26 10,838 21,626 11,358 7,962 8,335 10,709 FY21 FY22 FY23 FY24 FY25 9MFY26 4.1 11.7 5.2 3.1 3.5 4.4 FY21 FY22 FY23 FY24 FY25 9MFY26 Net Debt / EBITDA (x)2 Net Debt / Equity (x) 75,389 51,049 67,810 77,550 82,579 81,834 88,501 75,561 84,893 87,082 94,801 92,598 FY21 FY22 FY23 FY24 FY25 9MFY26 Net Gross 2.44 0.80 2.07 3.31 3.20 2.59 FY21 FY22 FY23 FY24 FY25 9MFY26 0.98 0.52 0.61 0.78 0.90 0.86 FY21 FY22 FY23 FY24 FY25 9MFY26 Gross & Net Debt (Rs crores) Credit Rating 1 2 3 4 5 6 7 8Axis Title S&P Moody's Investment GradeBBB/ Baa2 BBB-/ Baa3 BB+/ Ba1 BB/ Ba2 BB-/Ba3 B+/ B1 B/ B2 FY21 FY22 FY23 FY24 FY25 9MFY26 Agency Current rating Baa3 BBB Outlook Stable Stable Date of Review Jul-25 Dec-25
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ANNEXURES The longest cantilever glass skywalk of India located in Visakhapatnam, is built on the strength of Tata Structura hollow section pipes (100% Share of Business)
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3QFY26 Results Presentation Tata Steel : Key operating parameters Note : a) Standalone includes steelmaking sites (i.e., Jamshedpur, Kalinganagar, Meramandali & Gamharia) and CO2 emission intensity as per worldsteel methodology, b) In FY25, given the transition in business model at TSUK - coke rate, specific dust emission & solid waste are not applicable / meaningful and hence excluded. Further, carbon emission intensity, specific energy & specific freshwater consumption calculated per ton of processed hot rolled coil c) FY21 – FY24 TSUK & TSN figures are on CY basis i.e. CY20 – CY23 and 9MFY26 is an estimate 29 TSN 357 348 339 356 357 324 337 340 291 300 298 284 286 FY22 FY23 FY24 FY25 9MFY26 Coke Rate (kg/thm) 24.5 23.6 24.5 25.5 23.9 23.1 23.3 23.1 13.4 4.7 20.4 19.5 20.9 18.7 18.4 FY22 FY23 FY24 FY25 9MFY26 Specific Energy Consumption (GJ/tcs) 2.5 2.4 2.4 2.5 2.5 2.2 2.2 2.2 1.0 0.2 1.8 1.8 1.8 1.7 1.7 FY22 FY23 FY24 FY25 9MFY26 CO2 Emission Intensity (tCO2/tcs) 2.8 2.7 2.4 2.7 2.3 8.7 9.8 13.2 13.1 8.8 4.8 5.2 6.5 4.8 5.0 FY22 FY23 FY24 FY25 9MFY26 0.4 0.4 0.4 0.3 0.3 0.4 0.3 0.3 0.2 0.2 0.3 0.2 0.3 FY22 FY23 FY24 FY25 9MFY26 Specific Dust Emission (kg/tcs) c 99 98 100 100 99 99 99 99 99 98 97 98 98 FY22 FY23 FY24 FY25 9MFY26 Solid Waste Utilisation (%) c Good Good Good Good Good Good Specific Fresh Water Consumption (m3/tcs)c b b b TSUK b b b b b b bbb India (Standalonea)
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3QFY26 Results Presentation Tata Steel Standalone Note : 1. Raw material cost incl. raw material consumed, and purchases of finished and semi-finished products 2. Adjusted for changes on account of FX movement on intercompany debt / receivables 30 Key drivers for QoQ change: ▪ Revenues: increased by 3% QoQ, primarily driven by higher volumes, partly offset by drop in steel realisations ▪ Raw material costs: increased by 6% QoQ primarily due to improved production and higher purchases of rebars from NINL ▪ Change in inventories: primarily driven by inventory build-up of 32 kt in 3Q vs. 155 kt drawdown in 2Q ▪ Other expenses: were up 12% QoQ driven by higher consumables, R&D, freight and material handling related expenses ▪ Exceptional loss: includes the impact of new labour code and employee separation scheme (All figures are in Rs. Crores unless stated otherwise) 3QFY26 2QFY26 3QFY25 Production (mn tons) 6.05 5.40 5.41 Deliveries (mn tons) 6.04 5.55 5.29 Total revenue from operations 35,578 34,680 32,760 Raw material cost1 13,703 12,961 13,928 Change in inventories (67) 559 (220) Employee benefits expenses 1,863 1,996 1,956 Other expenses 12,349 11,015 9,596 EBITDA 7,940 8,394 7,624 Adjusted EBITDA2 7,902 8,255 7,523 Adjusted EBITDA per ton (Rs.) 13,090 14,863 14,214 Other income 780 610 456 Finance cost 1,290 1,237 1,080 Pre-exceptional PBT 5,394 5,803 5,321 Exceptional items (gain)/loss 348 400 146 Tax expenses 1,224 1,343 1,296 Reported PAT 3,822 4,060 3,879
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3QFY26 Results Presentation Tata Steel Netherlands 31 Key drivers for QoQ change: ▪ Revenues: moved lower on QoQ basis due to drop in realisations and reduced volumes ▪ Raw material cost: was lower QoQ primarily due to lower purchases and decline in coking coal consumption related cost ▪ Change in inventories: driven by inventory buildup in 3Q vs. drawdown in 2Q ▪ Other expenses: declined on account of lower power & fuel expenses partly offset by increase in maintenance, IT and emission rights related costs (All figures are in Rs. Crores unless stated otherwise) 3QFY26 2QFY26 3QFY25 Liquid Steel production (mn tons) 1.68 1.67 1.76 Deliveries (mn tons) 1.40 1.54 1.53 Total revenue from operations 14,001 15,719 13,863 Raw material cost1 6,320 6,580 6,823 Change in inventories (804) 316 24 Employee benefits expenses 3,051 2,894 2,755 Other expenses 4,864 5,013 4,270 EBITDA 570 916 (9) EBITDA per ton (Rs) 4,068 5,948 (56) Note : 1. Raw material cost includes raw material consumed, and purchases of finished and semi-finished products, Figures prior to inter value chain eliminations, Prior period numbers have been restated to align with segmental reporting parameters going forward
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3QFY26 Results Presentation Tata Steel UK 32 Key drivers for QoQ change: ▪ Revenues: moved lower upon moderation in volumes on QoQ basis ▪ Raw material cost: declined upon lower purchase of substrate in 3Q vs. 2Q ▪ Change in inventories: driven by higher inventory drawdown during the quarter ▪ Other expenses: declined as 2Q included expense relating to annual maintenance activity (All figures are in Rs. Crores unless stated otherwise) 3QFY26 2QFY26 3QFY25 Deliveries (mn tons) 0.52 0.57 0.57 Total revenue from operations 5,536 5,927 5,665 Raw material cost1 3,398 4,039 3,292 Change in inventories 410 58 708 Employee benefits expenses 1,002 1,020 952 Other expenses 1,468 1,575 1,443 EBITDA (742) (765) (730) EBITDA per ton (Rs) (14,199) (13,510) (12,871) Note : 1. Raw material cost includes raw material consumed, and purchases of finished and semi-finished products, Figures prior to inter value chain eliminations, Prior period numbers have been restated to align with segmental reporting parameters going forward
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Tata Steel Investor Relations ir@tatasteel.comInvestor enquiries