Tata Steel’s blockbuster quarter: Profit explodes 825%, debt falls sharply

Consolidated Revenues for the Oct – Dec 2025 quarter were Rs 57,002 crores and EBITDA was Rs 8,309 crores with a margin of around 15%. EBITDA improved by 39% YoY.

India revenues were Rs 35,725 crores and EBITDA was Rs 8,291 crores, which translates to a margin of 23%. Crude steel production was up 12% YoY to 6.34 million tons. Improved production led to ‘best ever quarterly’ deliveries to the tune of 6.04 million tons, up 14% YoY.

Netherlands revenues were €1,354 million and EBITDA was €55 million. Liquid steel production was 1.68 million tons and deliveries were 1.40 million tons.

UK revenues were £468 million. Deliveries stood at 0.52 million tons and were impacted by subdued demand and steady imports.

The company has spent Rs 3,291 crores on capital expenditure during the quarter and Rs 10,370 crores in 9MFY26. Net debt declined by Rs 5,206 crores QoQ to Rs 81,834 crores.

In December 2025, Tata Steel Board affirmed the long-term growth strategy for India business. Tata Steel said it will prioritize investments for a) volume growth, b) value added downstream portfolio, c) identified mining assets and infrastructure to serve the needs of the India business, and d) new to the world low carbon & low capital intensity process technologies for sustainable steel making of the future.

As part of the above stated objective, Tata Steel has consolidated its stake in color-coated business, Tata Steel Colors Pvt Ltd. The company also completed the acquisition of 50.01% stake in Thriveni Pellets Private Limited, which in turn holds 100% equity stake in Brahmani River Pellets Private Limited.

T V Narendran, Chief Executive Officer & Managing Director: "Our global operating environment continues to be shaped by tariffs, geopolitical shifts and policy divergence. Steel markets were impacted by elevated finished steel exports from China, which at 119 million tons surpassed the 2015 peak.

"Against this backdrop, Tata Steel delivered a strong performance in this quarter, with India crude steel production rising 12% while deliveries grew faster at 14% YoY, surpassing the 6 million tons mark in a quarter for the first time."

"We continued to strengthen our market leadership across chosen segments, supported by capacity expansion and a focused downstream strategy. Automotive volumes grew 20% YoY, while our retail vertical gained further momentum."