Tata Steel Q3 Results Review - Lower Raw Material Costs Boost Ebitda Margin: Systematix

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Report.Tata Steel Ltd.'s Q3 FY24 cons. adjusted. Ebitda of Rs 63.3 billion (plus 55%/+47% YoY/QoQ) was 43% above our estimate due to lower raw material costs and better India realisations.India operations posted Ebitda of Rs 83 billion (plus 67% YoY, plus 21% QoQ) while Tata Steel Europe operations reported Ebitda loss of Rs 29 billion (versus Rs -16 billion/-25 billion in Q3 FY23/Q2 FY24). Indian operations reported sales volumes of 4.9mt (plus 3% YoY, +1% QoQ) and consolidated volumes were 7.1mt (-1% YoY and flat QoQ).India net sales realisation was $862/trillion (+3%/+1% YoY/QoQ). India and TSE operations reported Ebitda margins of $204/trillion (plus 60% YoY and plus 19% QoQ) and $180/ trillion (versus $95/-155/trillion in Q3 FY23/Q2 FY24).Consolidated net debt was broadly flat QoQ at Rs 774 billion at the end of the quarter; overall net debt increase during 9MFY24 was ~Rs 96 billion. Capex during the quarter was Rs 47 billion versus Rs 46 billion in the previous quarter, in line with the annual guidance of ~Rs 160 billion, majorly towards the 5mt Kalinganagar brownfield expansion where phased commissioning has commenced..Click on the attachment to read the full report:.NTPC Q3 Preview: Revenue May Remain Flat This Quarter.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Tata Steel Q3 Results Review - Lower Raw Material Costs Boost Ebitda Margin: Systematix

Lower than expected raw material costs due to a favorable coking coal blend.

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Tata Steel Q3 Results Review - Lower Raw Material Costs Boost Ebitda Margin: Systematix

Lower than expected raw material costs due to a favorable coking coal blend.

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