Tata Steel Q4 Results Review: Earnings Beat On Lower Costs, Better Volumes, Says Systematix Maintaining 'Buy'

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Systematix Report

Tata Steel Ltd.'s FY25 revenue at Rs 2,185 billion declined by 5% YoY due to lower steel prices at across regions, partially supported by strong deliveries. The company reported Ebitda of Rs 268 billion (+11% YoY) with margin averaging 12% in FY25 compared to 10% in FY24.

Volume deliveries for the year were 31 mt vs 29.4 mt, improving by 5% YoY. The blended realisation for the year declined by 9% YoY to Rs 70,589/t, however, consolidated Ebitda/tonne increased by 3% YoY to Rs 8,171/t, helped by positive Ebitda at Tata Steel Netherland, partially offset by magnified Ebitda loss at Tata Steel UK.

Tata Steel spent Rs 157 billion in capex for FY25 and has guided for another Rs 150 billion for FY26. The Board of Directors have recommended a dividend of Rs 3.6/share on the face value of Rs 1/share each.

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