Tata Steel Q3 FY26 results (Oct–Dec 2025) and concall

Metals & Mining · Concall AI · Call held 6 Feb 2026

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

Tata Steel delivered a resilient Q3 FY26 amid weak global steel prices, with India crossing 6 MT quarterly deliveries for the first time. The cost transformation program offset lower realisations across geographies. India remains the profit anchor at 24% EBITDA margin. Europe outlook is improving with CBAM and expected safeguard revisions from June 2026, while UK continues to bleed awaiting policy support. Management guided Q4 EBITDA expansion across all geographies with India prices up Rs 2,300/t QoQ and volumes up ~0.5 MT.

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What they filed

Q3 FY26: revenue up 6.3%, net profit up 825.4% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26
Revenue	53,905	53,648	56,218	53,178	58,689 +9%	57,002 +6%
Expenses	47,789	47,745	49,659	45,751	49,793	48,803
EBITDA	6,116	5,903	6,559	7,428	8,897 +45%	8,200 +39%
Margin	11%	11%	12%	14%	15%	14%
Other income	617	142	149	236	-6	465
Interest	1,971	1,804	1,789	1,852	1,775	1,747
Depreciation	2,597	2,569	2,720	2,744	2,893	3,049
Profit before tax	2,164	1,672	2,200	3,067	4,222 +95%	3,869 +131%
Tax rate	65%	82%	45%	35%	25%	29%
Net profit	759	295	1,201	2,007	3,183 +319%	2,730 +825%
EPS	0.67	0.26	1.04	1.66	2.48	2.15

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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