āagman

Not investment advice. Data and computed figures, for information only.

Tata Steel Ltd

NSE: TATASTEELF&O
₹175.50
−₹0.90 (−0.51%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹2,16,964 Cr
CMP
₹175.50
52-wk High / Low
₹224 / 160
P/E
18.3
P/B
2.1
Book Value
₹81.8
Div Yield
2.30%
ROCE
13.0%
ROE
11.7%
Face Value
₹1
D/E
0.90

Price+1.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹126
√(22.5 × EPS × book value per share)
ROIC
7.8%
vs 10.6% sector median
Cash flow to profit
3.22
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+127
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
6.8%
ROE × earnings retention ratio
ROE stability
14.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.25FII +0.32DII −0.23
Latest quarter vs the previous one
Cash-accrual divergence
−8.5%
of assets
Low = accruals track cash flow
Strengths
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 18.3x is below the sector median of 19.8x
Watch-outs
−Latest ROCE of 13% trails the sector median of 16%
−Price trades below its 200-day moving average (0.9x)
−Promoter holding fell by 1.0pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales59,49055,68255,31258,68754,77153,90553,64856,21853,17858,68957,00263,27060,794
Expenses54,58751,41449,04852,08748,07747,78947,74549,65945,75149,79348,80353,44151,530
Operating Profit4,9034,2686,2646,6016,6946,1165,9036,5597,4288,8978,2009,8299,264
OPM %8.2%7.7%11.3%11.2%12.2%11.3%11.0%11.7%14.0%15.2%14.4%15.5%15.2%
Other Income1,190−6,568−33−382−6617142149236−646542−17
Interest1,8251,9591,8811,8421,7771,9711,8041,7891,8521,7751,7471,7921,771
Depreciation2,4122,4802,4222,5682,5352,5972,5692,7202,7442,8933,0493,2683,640
Profit before tax1,855−6,7391,9281,8092,3772,1641,6722,2003,0674,2223,8694,8103,838
Net Profit525−6,5115225559197592951,2012,0073,1832,7302,9652,385
EPS (₹)0.52−5.070.420.490.770.670.261.041.662.482.152.341.86

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,39,5041,01,9651,12,2991,23,2491,57,6691,39,8171,56,4772,43,9592,43,3532,29,1712,18,5432,32,1402,39,756
Expenses1,36,0951,02,59099,1561,01,8161,28,3511,22,3541,25,9731,80,4692,11,0532,06,9231,93,2441,97,7882,03,567
Operating Profit3,409−62513,14421,43329,31817,46330,50463,49032,30022,24825,29834,35236,189
OPM %2.4%−0.6%11.7%17.4%18.6%12.5%19.5%26.0%13.3%9.7%11.6%14.8%15.1%
Other Income5,99410,346−3,78910,8981,524−2,8841801,3001,569−6,005877738485
Interest4,8484,2215,0725,4557,6607,5337,6075,4626,2997,5087,3417,1677,085
Depreciation5,9445,3065,6735,7427,3428,4419,2349,1019,3359,88210,42111,95512,850
Profit before tax−1,388193−1,39121,13515,841−1,39513,84450,22718,235−1,1478,41315,96916,739
Net Profit−3,939−497−4,16917,7439,1221,1748,19041,7498,075−4,9103,17410,88611,264
EPS (₹)−3.48−0.34−3.7611.939.071.386.2632.887.17−3.552.748.658.83

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital9719709701,1451,1451,1451,1981,2211,2211,2471,2471,247—
Reserves30,37842,76236,84959,72667,78072,43173,0411,13,2221,01,86190,78889,9221,00,920—
Borrowings80,70181,98783,01492,1471,00,8161,16,32888,50175,56184,89387,08294,80192,382—
Other Liabilities47,05951,16551,61455,70463,03259,24581,16992,41797,42190,19589,4881,01,965—
Total Liabilities1,59,1091,76,8841,72,4472,08,7222,32,7732,49,1492,43,9092,82,4222,85,3962,69,3122,75,4592,96,515—
Fixed Assets68,10072,20092,00796,1051,24,4421,34,5511,35,7751,33,2881,46,6211,48,8141,50,9141,79,908—
CWIP28,67835,99615,78416,61418,64119,49719,00722,04631,21334,35641,62228,497—
Investments3,45510,71412,45717,8995,7386,28510,68213,1408,4106,2586,1947,089—
Other Assets58,87657,97452,20078,10383,95288,81678,4451,13,94899,15179,88576,72881,021—
Total Assets1,59,1091,76,8841,72,4472,08,7222,32,7732,49,1492,43,9092,82,4222,85,3962,69,3122,75,4592,96,515—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity13,14611,88011,45510,8248,02325,33620,16944,32744,38121,68320,30123,13835,064
Cash from Investing Activity−15,378−9,021−8,794−9,490−11,730−29,176−14,012−9,437−10,905−18,179−14,253−13,611−14,397
Cash from Financing Activity1,015−2,617−4,729−2,5796,640−673−1,695−37,090−23,401−6,981−11,097−7,002−21,387
Net Cash Flow−1,218241−2,068−1,2452,933−4,5134,462−2,20010,075−3,477−5,0492,524−720

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %10.01.01.06.012.014.06.012.031.013.07.09.013.0
ROE %————————————11.7
EPS (₹)3.19−3.48−0.34−3.7611.939.071.386.2632.887.17−3.552.748.65
Book Value (₹)————————————81.8
Face Value (₹)————————————1
P/E————————————18.3
Div Yield %————————————2.30
NPM %2.5−2.7−0.4−3.813.25.70.95.217.03.3−2.21.44.7
OPM %11.02.4−0.612.017.019.012.019.026.013.010.012.015.0
D/E2.012.571.872.201.511.461.581.190.660.820.951.040.90
P/B————————————2.1

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+8.0%
3 years−2.0%
TTM+11.0%
Compounded profit growth
10 years+24.0%
5 years+8.0%
3 years+10.0%
TTM+147.0%
Stock price CAGR
10 years+16.0%
5 years+6.0%
3 years+11.0%
Last year+0.0%
Return on equity
10 years12.0%
5 years14.0%
3 years7.0%
Last year12.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters31.35%31.35%33.21%33.12%34.41%34.41%33.92%33.90%33.19%33.19%33.19%32.94%
FIIs14.11%14.11%18.55%14.60%12.39%18.56%22.87%20.62%19.61%18.29%18.58%18.90%
DIIs30.62%30.62%26.66%29.06%29.66%25.16%20.41%20.68%23.51%24.48%26.67%26.44%
Government0.01%0.01%0.07%0.11%0.22%0.25%0.10%0.16%0.16%0.18%0.18%0.18%
Public23.91%23.91%21.51%23.11%23.32%21.62%22.70%24.63%23.52%23.84%21.36%21.52%
No. of shareholders8,44,4298,44,4297,81,3928,09,5788,96,9198,73,19815,87,31536,44,09047,17,44260,25,70952,21,33851,79,576
Change since Jun 2023 (pp)
Promoters +1.59FIIs +4.79DIIs −4.18Public −2.39

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAnnouncement under Regulation 30 (LODR)-Scheme of ArrangementAnnouncement under Regulation 30 (LODR)-AcquisitionDisclosure Under Regulation(S) 30 Read With 51 Of The SEBI (LODR) Regulations, 2015.
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026PPTJul 2026RecordingJul 2026PPTMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPT

Corporate actions

As of 12 Jun 2026
12 Jun 2026DIVIDENDDividend - Rs 4 Per Share—
6 Jun 2025DIVIDENDDividend - Rs 3.60 Per Share—
21 Jun 2024DIVIDENDDividend - Rs 3.60 Per Share—
22 Jun 2023DIVIDENDAnnual General Meeting/Dividend - Rs 3.60 Per Share—
28 Jul 2022SPLITFace Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share10 : 1
15 Jun 2022DIVIDENDAnnual General Meeting/Dividend - Rs 51 Per Share—
17 Jun 2021DIVIDEND Annual General Meeting/Dividend - Rs 25 Per Share—
6 Aug 2020DIVIDEND Dividend - Rs 10 Per Share—
4 Jul 2019DIVIDEND Annual General Meeting/Dividend - Rs 13 Per Share—
5 Jul 2018DIVIDEND Annual General Meeting / Dividend- Rs 10 Per Share—
31 Jan 2018RIGHTS Rights - 4:25 Fully Paid Up Shares @ Premium Rs 500/- Per Share / 2:25 Partly Paid Up Shares @ Premium Rs 605/- Per Share—
20 Jul 2017DIVIDEND Annual General Meeting/Dividend - Rs 10/- Per Share—
28 Jul 2016DIVIDEND Annual General Meeting/Dividend Rs 8/- Per Share—
23 Jul 2015DIVIDENDAnnual General Meeting / Dividend - Rs. 8/- Per Share—
14 Jul 2014DIVIDENDAnnual General Meeting / Dividend - Rs.10/- Per Ordinary Share—
15 Jul 2013DIVIDENDAnnual General Meeting / Dividend - Rs.8/- Per Ordinary Share—
16 Jul 2012DIVIDENDAnnual General Meeting/Dividend Rs 12 Per Share—
4 Jul 2011DIVIDENDAnnual General Meeting/Dividend Rs 12 Per Share—
12 Jul 2010DIVIDENDAnnual General Meeting And Dividend Rs.8/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman