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July 30, 2026 #Connecting India : Kumar Bhaskar Varma Setu in Assam, an engineering marvel, made up of LRPC strand supply from Tata Steel Tata Steel Results Presentation Financial quarter ended 30th June 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 2
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3 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 We are committed to ‘Zero Harm’ Journey towards excellence in Safety & Health of employees1 1QFY27 Results Presentation 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 1 st Oct 2023, BRPL – Brahmani River Pellets Limited, AI – Artificial Intelligence 3 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 1QFY27 28% LTIFR* in the last 15 years 5 4 5 6 3 FY23 FY24 FY25 FY26 1Q FY27 Fatalities2 Holistic measures for a safe and healthier workforce AI-enabled tools & Safety Command Centers Real-time 360° situational intelligence and physical-digital process barriers Workplace Safety Safety workshop conducted at BRPL Roadmap for inculcating Safety governance and culture across the site Health camps & heatwave awareness International Yoga Day, World Hypertension Day and ‘Beat the Heat’ campaign Behavioral Safety Employee Wellbeing
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4 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Improving quality of life of our communities Social capital and scalable change models to enable deep societal impact 1QFY27 Results Presentation Note : 1Cumulative as on 1QFY27, 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 4 31 lakh+ lives impacted1 68 targets prioritised across 15 UN SDG goals >₹2,200 crores spent2 over last 5 years 1,100+ out of school children brought back to education system Rural and Urban Education 95% redressal rate in high-risk cases among pregnant women and children (0-15 months) Public Health and Nutrition 13,000+ children and youth engaged in sporting activities Grassroots Sports 96 youth participated in Tribal Leadership program to become catalysts of change Tribal Identity 17 structures created for community use Public Infrastructure 400+ women enrolled in leadership Training under Disha program Gender & Youth Empowerment ₹300+ crores public funds unlocked directly to communities Unlocking public entitlements 2,000+ PwD connected through SABAL program Dignity for Disabled 3,300+ households adopted climate resilient practices for sustainable agriculture Climate Resilient Livelihoods ~1.7 million cubic meter water storage capacity created via harvesting and watersheds Water Resources
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STRATEGIC UPDATE At Tata Steel Kalinganagar, our state-of-the-art downstream facilities produce value-added steel for next-gen lightweighting & advanced mobility, strengthening product mix and localisation 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0
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6 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Focused on creating Sustainable Value 6 Become Future Ready Leadership in India Robust Financial Health Consolidate position as global cost leader Leadership in Technology & Digital Leadership in Sustainability
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7 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Tata Steel is scaling up in India to capitalise on growth opportunity 1QFY27 Results Presentation 7 Structurally attractive market 91 164 0 100 200 FY2018 FY2026 India’s steel demand grew ~1.8x in last 8 years in million tons 1 - 1.5x India steel demand growth higher than the GDP growth rate 100 kg India steel use per capita lower than global average of 215 kg per capita Shift in demand preferences; focus on quality & customisation India steel capacity is poised for the next phase of growth 13.0 27.4 FY2018 FY2026 ~40 Doubled India steelmaking capacity Scalable to 40 MTPA and beyond Growth pipeline NINL Phase I TSK Phase III TSM Expansion Maharashtra & EAFs in million tons Note : NINL – Neelachal Ispat Nigam Ltd, TSK – Tata Steel Kalinganagar, TSM – Tata Steel Meramandali, EAF – Electric Arc Furnace
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8 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Volume play : Calibrated and sequenced flats / longs expansion 1QFY27 Results Presentation 8 Ludhiana (Longs) 0.75 MTPA EAF ramp up in progress 2.5 MTPA Thin Slab Caster and Rolling facility at TSM 4.8 MTPA NINL expansion @ Rs 33,873 crores, approved by Board Develop new iron ore hub and 5 MTPA steel plant in Maharashtra TSM (Flats) Maharashtra (Flats) Calibrating capacity expansion to evolving market needs Optionality to pursue flats or long products based on prevalent market Strong project management to sustain adherence to plan Capacity expansion projects Note : NINL – Neelachal Ispat Nigam Limited, EAF – Electric Arc Furnace, TSM – Tata Steel Meramandali NINL (Longs) » » » »
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9 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Value play : Investment in downstream to drive sector leading returns 1QFY27 Results Presentation 9Note : CRM – Cold Rolling Mill, CAL – Continuous Annealing Line, CGL – Continuous Galvanising Line, Downstream consists of Cold Rolled, Galvanised, Color coated, Tubes and Tinplate products, OEM – Original Equipment Manufacturers, HRPGL – Hot Rolled Pickling and Galvanising Line Price Ladder Hot rolled coil Cold Rolled Tubes Coated Color Coated & Tinplate Select Downstream products Downstream projects ▪ 2.2 MTPA CRM complex at Kalinganagar CAL line of 0.9 MTPA and two CGL lines of ~0.5 MTPA each » ▪ Color coated business Facilities at Jamshedpur, Khopoli, Angul and Sahibabad» ▪ 0.7 MTPA HRPGL complex in Maharashtra All major OEM orders placed. Engineering, civil & structural erection works in progress» ▪ Tinplate : 0.4 MTPA → 1 MTPA Phase 1 expansion from 0.4 to 0.7 MTPA is underway at Jamshedpur by 4QFY28 » ▪ Wires : 0.6 → 1 MTPA 75 KTPA capacity addition in progress and focused on innovative construction solutions» ▪ Tubes : 1.7 MTPA → 4 MTPA Capacity expansion via asset light model and focus on product enrichment»
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10 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Multi-pronged strategy to enable leadership in chosen segments 1QFY27 Results Presentation 10Note : MSMEs – Micro, Small and Medium Enterprises, Aashiyana is the e-commerce platform for individual home builders, O&G – Oil & Gas ▪ Supplier of Choice in Auto Localisation of advanced grades» Industry first services» ▪ Shaping construction practices Steel provider → Solution partner» Network of service centers» ▪ Redefine steel buying for MSMEs Transform customer experience» Technical support & skill building» ▪ Grow in high margin retail Hyperlocal presence» Early engagement via Aashiyana» ▪ Entry into new frontiers Shipbuilding, Data Centre, O&G » Globally certified grades» ▪ Appliances, Consumer durables Import substitution » Best-in-class processing center» 80+ steel processing centers 35 construction service centers 25k More than retail influencers (mason, architects among others) 20+ stockyards brands 22 80+ micro segments served Strategic focus
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11 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 11Note : HIsarna is a new ironmaking technology that aims to reduce carbon emissions, EASyMelt is an alternative to direct reduction and substitutes coke with syn gas in blast furnace, EAF – Electric Arc Furnace, Kraftblock thermal energy-storage technology operations at the Sinter Plant at Jamshedpur, turns waste heat into process heat, delivering f uel savings & productivity gains, H2 – Hydrogen, CBM – Coal Bed Methane Route and pace of decarbonisation being calibrated across geographies Sustainability is at the core of our strategy Net Zero by 2045 Our ESG goals underpin the focus areas Circular economy Water, Air and Dust Biodiversity Employees, Community Supply chain R&D, Technology Pursuing Multiple Initiatives in India to achieve ‘Responsible Growth’ » Breakthrough technologies Strategic Levers Status » Scrap-based steelmaking » Energy efficiency & Process optimisation » Greening of power mix » Use of alternate reductants Setting up HIsarna demo and EASyMelt pilot Commissioned 0.75 MTPA EAF Coke Dry Quenching, Kraftblock etc. Renewable energy, Substitute coal with gas H2 injection trial, Biochar usage & CBM gas
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12 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 12Note : TSN – Tata Steel Netherlands, EAF – Electric Arc Furnace, PM – Particulate Matter, PAH – Polycyclic aromatic hydrocarbons Progressing towards sustainable steelmaking in UK and Netherlands In UK, transition to scrap-based EAF steelmaking to reduce 50 million tons CO2e over a decade EAF project update 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 Over €300 million spent towards sustainability linked initiatives to reduce emissions Roadmap Plus Odor & Noise – Reduction in odor load by 85% vs. 2019 levels and silencers for primary extraction system PAH emissions – Flue gas cleaning installation & fabric filters. Emissions down 50% at three largest sources vs. 2019 Dust & Heavy Metals – Dust removal systems, PM10 down 41% vs. 2019 levels, extraction hoods & screens
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13 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 13 850+ AI models & agents across value chain 10,000 Rs crores Business Impact via Digital & AI $1 bn+ GMV Digital & AI enabled Customer Platforms 6 years Gartner Digital Execution Advanced Leader Smart Manufacturing & Asset Excellence1 AI-led remote operations and predictive asset management driving YETQP and reliability across mining and manufacturing Enterprise Agility & Decision Intelligence2 Single SAP & CFIN backbone across 169 entities with enterprise- wide systems and AI assistants Cyber-Resilient Operations3 Global cyber-resilient backbone 24x7 IT-OT security, Responsible AI by design ensuring business continuity Note : YETQP - Yield, Energy, Throughput, Quality, Productivity, IT – Information Technology, OT – Operations Technology Embracing Digital and Technology to create and unlock value
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14 Benefits from cost optimization initiatives 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 14Note : Improvement in costs computed for FY2027 vs. average FY2026 baseline Raw material cost Procurement cost Cost Optimization » » Production yield & reliability Fuel rate optimization Operational Excellence » » Downstream Initiatives Supply Chain optimisation Value Enhancement » » Key Drivers 6 MTPA Pellet Plant at Kalinganagar Rs 7,140 crores Target for FY2027 Enhancing competitiveness through cost and efficiency programs
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15 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 15Note : 1Total Shareholder Returns sourced from Bloomberg as of 22nd July 2026 and considers dividend reinvestment Cash flows Balance sheet Capital Allocation Risk Resilience ▪ India EBITDA of Rs 9,908 crores ▪ Working capital management ▪ Liquidity of Rs 45,950 crores ▪ Cash & cash eqns. of Rs 13,221 crs. ▪ Capital expenditure of Rs 3,579 crores ▪ Net debt to EBITDA at 2.3x ▪ Portfolio optimisation incl. Strategic M&A ▪ Commodity hedging Total Shareholder Returns1 (%) Tata Steel Nifty 50 Sensex 11 9 8 5 years 22 11 11 10 years 19 13 13 25 years Financial Management to enable returns across cycle
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16 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 16 Skilling for impact ▪ Scaling enterprise wise generative AI capabilities to accelerate adoption and enhance value ▪ Capability building in emerging technologies such as Electric Arc Furnace and Green Steel Holistic Employee Wellbeing ▪ Multi-channel counselling, on the ground wellness counsellors and mental health first aiders ▪ Unifying wellness practices across regions through the global wellness network Focus on Productivity and Cost ▪ Strategic Organisational design interventions ▪ Resource availability for India Growth Projects to meet FEL timelines & ODR requirements Stronger together as One Tata Steel ▪ Embedding unified culture code to align and harmonise working practices across locations ▪ Global leaders' capability building and networking to drive One Tata Steel initiatives Note : AI – Artificial Intelligence , ODR – Opening Day Requirement , FEL – Front End Loading People-Driven Impact: Culture, Capability and Cost Efficiency
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BUSINESS UPDATE Tata Steel is strengthening its logistics ecosystem through strategic investments, increased stake in TM International Logistics Ltd, enabling greater efficiencies and cost advantages
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18 20 35 50 65 40 70 100 130 Jan-25 Jul-25 Jan-26 Jul-26 Oil (Brent, LHS) Gas (TTF, RHS) 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 18 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 ($/Mwh) Global HRC prices ($/t) Steelmaking raw material ($/t) Energy prices Steel spot spreads ($/t) 200 600 1,000 1,400 Jan-25 Jul-25 Jan-26 Jul-26 US Domestic Germany domestic China export FOB China domestic UK Midlands India 0 150 300 450 Jan-25 Jul-25 Jan-26 Jul-26 Premium Low Vol HCC CFR China Premium HCC, Australia FoB Iron Ore-62% Fe, China CFR 0 250 500 Jan-25 Jul-25 Jan-26 Jul-26 EU spread EU spread (with Energy, Carbon) China Export Spread China Domestic Spreads ▪ During the quarter, Global steel prices diverged across key regions o US HRC prices surpassed $1,200/t and were at a 3-year high o Average UK HRC price was at ~$100/t premium over EU HRC during the quarter o Elsewhere, China steel prices were rangebound between $480/t to $500/t ▪ Pressure on input costs due to geoeconomics o Oil prices declined from >$100 per barrel to ~$80 per barrel levels; volatility persists o Raw material prices esp. coking coal moved closer to ~$250/t levels ▪ Overall, this led to mixed steel spot spreads across key regions Steel spreads were mixed amid price divergence and cost pressures
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19 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 19Sources : Joint Plant Committee, Eurofer, World Steel Association, *Estimate, EU – European Union, EC – European Commission -1,000 0 1,000 2,000 1Q FY25 2Q FY25 3Q FY25 4Q FY25 1Q FY26 2Q FY26 3Q FY26 4Q FY26 1Q FY27 in kt India net steel imports EU and UK net steel imports India EU & UK 0 2,000 4,000 6,000 1Q FY25 2Q FY25 3Q FY25 4Q FY25 1Q FY26 2Q FY26 3Q FY26 4Q FY26 1Q FY27* EU UKin kt ▪ India apparent steel demand continued to grow, but imports outpaced exports during the quarter ▪ Govt has initiated anti dumping investigation on Hot Rolled steel imports from select countries ▪ EU and UK have incorporated tighter safeguard quotas effective 01st July 2026 ▪ However, in UK there were deviations from initial proposal, with implications for product categories India steel demand remained firm while policy reshapes EU and UK
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20 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 20 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 Tata Steel India deliveries (million tons) 0.4 0.7 0.3 4.4 5.4 4.9 1QFY26 4QFY26 1QFY27 ExportsDomestic 4.8 6.2 5.2 Auto and ancillaries Retail : Individual housebuilders Construction & Infrastructure Consumer Durables and Packaging Trade and Commercial 1.1 1.5 1.3 1QFY26 4QFY26 1QFY27 0.7 1.0 0.9 1QFY26 4QFY26 1QFY27 1.2 1.3 1.2 1QFY26 4QFY26 1QFY27 0.3 0.3 0.3 1QFY26 4QFY26 1QFY27 Energy and Engg. goods 0.7 0.9 0.8 1QFY26 4QFY26 1QFY27 0.4 0.5 0.4 1QFY26 4QFY26 1QFY27 End use sectors (million tons) 1QFY27 India deliveries rose 9% YoY, inline with production
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21 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Auto: Consolidate market leadership via new downstream facilities 1QFY27 Results Presentation 21Note : GA – Galvannealed, UHSS – Ultra-High Strength Steel, TSK – Tata Steel Kalinganagar, CAL – Continuous Annealing Line, CGL – Continuous Galvanising Line, PV – Passenger Vehicle, CV – Commercial Vehicle, 2W: Two-Wheeler, EV – Electrical Vehicle ▪ Value play : Ramp up of new facilities led to ‘best-ever’ 1Q performance 1QFY25 1QFY26 1QFY27 21% YoY growth in hi-end auto sales ▪ New product development leveraging downstream facilities Driving the future of mobility 1Q FY26 1Q FY27 Sales from TSK CAL and CGL lines TSK Ph2 : CR UHSS DP980 from a marquee CV OEM and GA with secondary coating for PV Truck cabin structural SUV Door Inner Panel Transmission gear Rotor hub Combi mill enhancing specialty steel footprint in PV & 2W : Small diameter (<40 mm) & tight tolerance bars Real time customer support experience using Mixed Reality Solutions Early Vendor Involvement with OEM on next-gen EV model
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61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation Enabling next-gen construction solutions and product offerings Create your dream home today www.Aashiyana.tatasteel.com 1QFY26 1QFY27 33% Tata Tiscon achieved best-ever 1Q volumes ▪ Enhanced customer convenience though self-help tools ▪ Aashiyana GMV grew 41% YoY Branded presence aided by omnichannel routes Reshaping construction practices via advanced ready-to-use solutions Deck Slabs Mivan Formwork India’s first Superflex weld mesh line Varanasi Ropeway Powerplant Plate Fabricated Sections witnessed 5x YoY increase in volume Pravesh increased retail footprint with 17% QoQ growth in volumes Supplies of Doors & Windows to key national & international projects 22Note : GMV – Gross Merchandise Value
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23 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 23Note : DoS-A: Dioctyl Sebacate – A, CRCA : Cold Rolled Close Annealed Enhancing customer centric product development ▪ CRCA with DoS-A oil coating → eliminating the need for degreasing by customer ▪ High strength CRCA, coated grades for storage racks and roofing structures (purlins) ▪ Enhanced presence in Shipbuilding aided by international certifications → Sales to 4 key accounts ▪ Making inroads into Data Centre, catered 2 projects in Maharashtra during Apr – Jun’26 quarter ▪ Entry into Container segment with high tensile steel supply for ~500 Dry Fit containers Drums & Barrels Purlins Racking Entry / Scaling new frontiers Engineering & Packaging: Customer and Product expansion
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24 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 24Note LRPC - Low Relaxation Pre-Stressed Concrete, PAXEL is India’s first branded tinplate container Downstream: Best-ever deliveries with enhanced value-added play ➢ Best-ever 1Q deliveries of LRPC & knotted fencing solutions ➢ Introduced ‘GajaMitra’ - a high- durability, all-weather protection 10-ft fencing solution for safe human-wildlife coexistence Tubes Tinplate ➢ Best-ever 1Q overall sales with 10% YoY growth ➢ Retail volume growth by ~25% YoY , by leveraging channel expansion ➢ Introducing Colorcoat - Tata Steel’s Global brand for color coated steel – successful trial supplies done in India ➢ Retail business grew by 14% YoY ➢ Best-ever 1Q Domestic Sales with 10% YoY growth ➢ PAXEL Oil CAN Sales achieved best-ever 1Q volumes Color coated Wires
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25 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 Tata Steel Consolidated 1QFY27 Results Presentation 251. 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. Key drivers for QoQ change: ▪ Revenues: declined upon seasonal drop in volumes esp. in India, partly offset by higher steel realisations ▪ Raw material costs: moved higher due to rise in coking coal consumption cost in India and Netherlands ▪ Change in inventories: was driven by inventory build- up in India and Netherlands vs. a drawdown in 4Q ▪ Other expenses: were up on account of higher royalty and West Asia crisis induced rise in power & fuel ▪ Exceptional loss: relates to employee separation scheme in India & redundancy-related provision in UK (All figures are in Rs. Crores unless stated otherwise) 1QFY27 4QFY26 1QFY26 Production (mn tons)1 7.69 8.23 7.33 Deliveries (mn tons) 7.27 8.72 7.12 Total revenue from operations 60,794 63,270 53,178 Raw material cost2 25,368 24,218 21,977 Change in inventories (2,414) 1,953 (1,398) Employee benefits expenses 7,226 6,698 6,599 Other expenses 21,350 20,572 18,573 EBITDA 9,370 9,953 7,480 EBITDA per ton (Rs.) 12,898 11,410 10,503 Other income 233 248 289 Finance cost 1,771 1,792 1,852 Pre-exceptional PBT 4,183 5,150 3,199 Exceptional items (gain)/loss 345 340 132 Tax expenses 1,452 1,845 1,060 Reported PAT 2,385 2,965 2,007
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26 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 26 9,953 9,370 9,839 - 1,914 1,373 469 3,173 Reported EBITDA 4QFY26 Market impact Volume impact DSP & West Asia impact Others Reported EBITDA 1QFY27 ▪ Market impact relates to higher steel realisations across geographies ▪ Volume impact primarily relates to drop in volumes esp. India & Netherlands ▪ Others relates to higher operating costs net of cost transformation benefits Consolidated 1QFY27 EBITDA stood at Rs 9,370 crores Note : DSP – Direct Sheet Plant
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27 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 27 92,382 97,985 84,173 443 5,192 31 13,221 591 Gross Debt Mar'26 Movement in leases Loan movement FX Impact and Others Gross Debt Jun'26 Cash, Bank & Current Investments MTM gain on currency hedges Net Debt Jun'26 Net debt increased to Rs 84,173 crores
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28 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 28Note : All data is on consolidated basis; 1. Interest Coverage Ratio: EBITDA/ Interest, EBITDA and interest on LTM basis EBITDA Margin (%) EBITDA / ton (Rs.) Interest Coverage Ratio (x)1 26.2% 13.4% 10.2% 11.8% 15.0% 15.4% FY22 FY23 FY24 FY25 FY26 1QFY27 21,626 11,358 7,962 8,335 10,900 12,898 FY22 FY23 FY24 FY25 FY26 1QFY27 11.7 5.2 3.1 3.5 4.9 5.2 FY22 FY23 FY24 FY25 FY26 1QFY27 Net Debt / EBITDA (x)1 Net Debt / Equity (x) 51,049 67,810 77,550 82,430 80,144 84,173 75,561 84,893 87,082 94,801 92,382 97,985 FY22 FY23 FY24 FY25 FY26 1QFY27 Net Gross 0.80 2.07 3.31 3.19 2.30 2.29 FY22 FY23 FY24 FY25 FY26 1QFY27 0.52 0.61 0.78 0.90 0.82 0.80 FY22 FY23 FY24 FY25 FY26 1QFY27 Gross & Net Debt (Rs crores) Credit Rating 1 2 3 4 5 6 7 8 Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 Jul-25 Axis 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 FY26 1QF Y27 Key financial credit metrices
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Annexures AI-powered SafetyEyeQ is transforming existing CCTV networks into intelligent, real-time monitoring systems enhancing workplace safety across operations
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30 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 30 TSN 348 339 356 354 366 337 340 300 298 284 290 291 FY23 FY24 FY25 FY26 1QFY27 Coke Rate (kg/thm) 23.6 24.5 25.5 24.0 24.7 23.3 23.1 13.4 4.9 5.6 19.5 20.9 18.8 18.2 18.6 FY23 FY24 FY25 FY26 1QFY27 Specific Energy Consumption (GJ/tcs) 2.4 2.4 2.5 2.5 2.7 2.2 2.2 1.0 0.2 0.2 1.8 1.8 1.7 1.7 1.8 FY23 FY24 FY25 FY26 1QFY27 CO2 Emission Intensity (tCO2/tcs) 2.7 2.4 2.7 1.7 1.8 9.8 13.2 13.1 12.3 18.3 5.2 6.5 4.8 4.7 5.3 FY23 FY24 FY25 FY26 1QFY27 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.2 0.3 0.2 0.2 0.2 FY23 FY24 FY25 FY26 1QFY27 Specific Dust Emission (kg/tcs) c 98 100 100 100 99 99 99 98 97 98 98 98 FY23 FY24 FY25 FY26 1QFY27 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) b b b b b b Note : a) Standalone incl. steelmaking sites (i.e., Jamshedpur, Kalinganagar, Meramandali & Gamharia), CO2 emission intensity from 1QFY27 as per worldsteel V11 prior periods are as per worldsteel V9.5; b) In FY25, given transition in business model at TSUK - coke rate, specific dust emission & solid waste are not meaningful and hence excluded. Further, carbon intensity, specific energy & specific freshwater consumption calculated per ton of hot rolled coil. Specific freshwater consumption incl. water used for steel processing and for flood management c) FY23 – FY24 TSUK & TSN figures are on CY basis i.e. CY22 – CY23 and 1QFY27 is an estimate Tata Steel : Key operating parameters
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31 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 31Note : 1. Raw material cost incl. raw material consumed, and purchases of finished and semi-finished products Key drivers for QoQ change: ▪ Revenues: declined upon seasonal drop in volumes partly offset by higher steel realisations (+Rs 5,991/t) ▪ Raw material costs: moved higher due to rise in coking coal consumption cost ▪ Change in inventories: was driven by inventory build- up of 371 kt in 1Q vs. drawdown in 4Q ▪ Other expenses: were up primarily on account of higher power & fuel related expenses ▪ Exceptional loss: primarily relates to employee separation scheme (All figures are in Rs. Crores unless stated otherwise) 1QFY27 4QFY26 1QFY26 Production (mn tons) 5.46 5.97 5.06 Deliveries (mn tons) 5.17 6.19 4.75 Total revenue from operations 36,897 38,448 31,014 Raw material cost1 14,844 14,569 11,822 Change in inventories (1,985) (6) (851) Employee benefits expenses 2,025 1,901 1,996 Other expenses 12,829 12,511 10,928 EBITDA 9,409 9,439 7,263 EBITDA per ton (Rs.) 18,198 15,257 15,289 Other income 491 221 555 Finance cost 1,357 1,318 1,271 Pre-exceptional PBT 6,112 6,478 4,777 Exceptional items (gain)/loss 292 132 219 Tax expenses 1,285 1,686 1,035 Reported PAT 4,536 4,660 3,523 Tata Steel Standalone
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32 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 32 Key drivers for QoQ change: ▪ Revenues: declined due to drop in volumes but were partly offset by higher realisations ▪ Raw material cost: rose on account of higher coking coal consumption cost and purchases ▪ Change in inventories: reflects inventory buildup in 1Q vs. drawdown in 4Q ▪ Employee benefits expenses: increased due to actuarial adjustments and wage revisions per CLA (All figures are in Rs. Crores unless stated otherwise) 1QFY27 4QFY26 1QFY26 Liquid Steel production (mn tons) 1.55 1.63 1.70 Deliveries (mn tons) 1.40 1.70 1.50 Total revenue from operations 15,803 17,016 14,619 Raw material cost1 7,306 6,529 6,345 Change in inventories (491) 1,320 (512) Employee benefits expenses 3,552 3,179 3,139 Other expenses 5,396 5,364 5,035 EBITDA 39 624 611 EBITDA per ton (Rs) 279 3,671 4,074 Note : 1. Raw material cost includes raw material consumed, and purchases of finished and semi-finished products, Figures prior to inter value chain eliminations, CLA – Collective Labour Agreement Tata Steel Netherlands
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33 61 126 219 0 131 169 0 43 69 190 185 166 52 178 51 237 41 57 90 36 90 153 153 153 255 161 0 1QFY27 Results Presentation 33 Key drivers for QoQ change: ▪ Revenues: rose 6% QoQ basis primarily driven by higher steel realisations despite drop in volumes ▪ Raw material cost: declined primarily on account of lower cost relating to purchased substrate cost ▪ Change in inventories: reflects inventory drawdown during the quarter (All figures are in Rs. Crores unless stated otherwise) 1QFY27 4QFY26 1QFY26 Liquid Steel production (mn tons) - - - Deliveries (mn tons) 0.48 0.52 0.60 Total revenue from operations 6,115 5,774 6,096 Raw material cost1 3,528 3,752 4,141 Change in inventories 233 85 (38) Employee benefits expenses 1,103 1,004 1,023 Other expenses 1,592 1,525 1,440 EBITDA (341) (591) (471) EBITDA per ton (Rs) (7,071) (11,409) (7,829) Note : 1. Raw material cost includes raw material consumed, and purchases of finished and semi-finished products, Figures prior to inter value chain eliminations Tata Steel UK
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