Tata Steel Q2 FY26 results (Jul–Sep 2025) and concall

Metals & Mining · Concall AI · Call held 13 Nov 2025

Company page: Tata Steel share price, financials & guidance record

Tata Steel delivered a strong Q2 FY26 performance, primarily driven by robust volume growth and effective cost transformation in India, leading to a 10% QoQ revenue increase and 80 bps EBITDA margin expansion. While European operations, particularly the UK, faced significant market headwinds and widening losses, the company is actively pursuing strategic initiatives like the BlueScope acquisition and engaging with governments for policy support. Capex and debt levels remain managed, with a net debt to EBITDA ratio of 3x.

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What they filed

Q2 FY26: revenue up 8.9%, net profit up 319.4% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	53,905	53,648	56,218	53,178	58,689 +9%
Expenses	47,789	47,745	49,659	45,751	49,793
EBITDA	6,116	5,903	6,559	7,428	8,897 +45%
Margin	11%	11%	12%	14%	15%
Other income	617	142	149	236	-6
Interest	1,971	1,804	1,789	1,852	1,775
Depreciation	2,597	2,569	2,720	2,744	2,893
Profit before tax	2,164	1,672	2,200	3,067	4,222 +95%
Tax rate	65%	82%	45%	35%	25%
Net profit	759	295	1,201	2,007	3,183 +319%
EPS	0.67	0.26	1.04	1.66	2.48

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.

What they filed

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