Tata Steel Reports India PAT of ₹3,865 Crores for Q3FY25; Revenues at ₹32,930 Crores

Kalinganagar Operations Ramp Up Amid Focus on Sustainability

Tata Steel announced a consolidated Q3FY25 PAT of ₹295 crores, with significant contributions from its India operations and continued efforts in sustainability.

Key Points:

• India PAT for Q3FY25 stood at ₹3,865 crores; consolidated PAT at ₹295 crores.
• Revenues for Q3FY25 were ₹53,648 crores; India revenues at ₹32,930 crores.
• Kalinganagar’s 5 MTPA blast furnace ramping up; CAL commissioned in December.

MUMBAI – Tata Steel today announced its financial results for the quarter and nine months ending December 31, 2024. Consolidated revenues for Q3FY25 stood at ₹53,648 crores, while India operations contributed ₹32,930 crores. Profit after Tax (PAT) for India during the quarter was ₹3,865 crores, supported by strong domestic deliveries and export strategies. The company’s consolidated PAT for the quarter was ₹295 crores.

Operational Highlights

Tata Steel’s crude steel production rose 6% YoY to 5.69 million tons in Q3FY25, with deliveries increasing 8% YoY to 5.29 million tons. CEO T.V. Narendran highlighted the challenges posed by subdued global steel prices due to Chinese exports but noted growth in domestic deliveries and operational efficiencies. The company’s new 5 MTPA blast furnace at Kalinganagar produced ~0.56 million tons during the quarter and is ramping up to rated capacity.

The recently commissioned 0.9 MTPA Continuous Annealing Line (CAL) has begun operations, receiving approvals from major automotive OEMs. Tata Tiscon achieved its best-ever quarterly deliveries, with a 20% YoY increase in 9MFY25.

Sustainability and Global Operations

Tata Steel emphasized its commitment to sustainability, including a shift to low-carbon steelmaking. The closure of heavy-end assets in the UK has improved cost and emissions profiles. In the Netherlands, deliveries reached ~1.5 million tons, while decarbonisation efforts are ongoing. The Noamundi iron ore mine operationalized an all-women shift, a first in India.

Financial Performance and Outlook

Executive Director and CFO Koushik Chatterjee reported consolidated EBITDA for Q3FY25 at ₹5,994 crores, with an 11% margin. India operations achieved an EBITDA margin of 24%, contributing ₹7,921 crores. The company reduced net debt by ₹3,000 crores QoQ, bringing it down to ₹85,800 crores, while liquidity remained robust at ₹28,219 crores.

Capital expenditure during the quarter was ₹3,868 crores, with ₹12,450 crores spent in the first nine months. Progress continues on projects such as the 3 MTPA Electric Arc Furnace in the UK and the 0.85 MTPA Electric Arc Furnace in Ludhiana, enhancing Tata Steel’s sustainability and operational goals.