Tata Steel Limited
TATA Steel Limited (hereinafter denoted as ‘TSL’ or ‘The company’) is among the leading companies of the diversified conglomerate – the TATA Group. The company was founded by Jamshedji Tata, the founder of the TATA Group. The company was established ...
Key Metrics
EPS
-3.56
Current ratio
0.72
Debt/Equity
1.91
Debt/EBITDA
16.58
Interest coverage ratio
1.18
Operating Cashflow to total debt
0.17
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Experienced management team and strong promoter group:
Support from TATA Sons Private Limited
Presence across the value chain of steel processing
Captive mines reducing external dependency for raw material requirements.
Diversified product mix catering to a wide array of geographies and industries.
Consolidated operating profit softened due to Netherland operations, improvement expected in FY25
Moderation in financial risk profile
Closure of the loss-making operations in UK
Volume growth to be boosted by near-completion of Kalingnagar capex
Liquidity: Adequate
Cons
Cyclicality of the steel industry
Commodity risks
Foreign currency impact
Lower than estimated cash flows, accompanied with sustained debt resulting into deterioration of the net debt/PBILDT beyond 3.0x for FY25 and beyond 2.0x from FY26 onwards.
Any large debt-funded acquisition or capex activity impacting the capital structure of the company, leading to an overall gearing above 1.5x on sustained basis.
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About Tata Steel Limited bond.
This comprehensive profile covers key factual information about Tata Steel Limited. TATA Steel Limited (hereinafter denoted as ‘TSL’ or ‘The company’) is among the leading companies of the diversified conglomerate – the TATA Group. The company was founded by Jamshedji Tata, the founder of the TATA Group. The company was established as India’s first integrated steel company, incorporated in 1907. Over the years, it has grown substantially through organic as well as inorganic ways. TSL has a global crude steel capacity of ~35 MTPA, of which 21.6 MTPA is domestic capacity. The company has a successful track record of acquisition by Bhushan Steel Limited in FY19, the steel business of Usha Martin Limited during FY20, and Neelanchal Ispat Nigam Limited during FY23. EPS in Mar-2024 was -3.56. Current ratio in Mar-2024 was 0.72. Debt/Equity in Mar-2024 was 1.91. Debt/EBITDA in Mar-2024 was 16.58. Interest coverage ratio in Mar-2024 was 1.18. Operating Cashflow to total debt in Mar-2024 was 0.17. Total revenue for Mar-2025 (E) was ₹262778.08. Net income for Mar-2025 (E) stood at ₹14182.89. Total assets as of Mar-2024 were ₹269312.42. Operating cash flow for Mar-2024 was ₹20,300.67. The company’s borrowing relationships include Axis Bank Limited (₹N/A Cr), Bank of Baroda (₹N/A Cr), Central Bank of India (₹N/A Cr), Export Import Bank of India (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), Indian Bank (₹N/A Cr), Proposed (₹N/A Cr), Punjab & Sind Bank (₹N/A Cr), South Indian Bank Limited (₹N/A Cr), Union Bank of India (₹N/A Cr). Peers and comparison entities consist of Tata Steel Limited, JSW Steel Limited, Jindal Steel And Power Limited, Bharat Forge Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Experienced management team and strong promoter group:; Support from TATA Sons Private Limited; Presence across the value chain of steel processing; Captive mines reducing external dependency for raw material requirements.; Diversified product mix catering to a wide array of geographies and industries.; Consolidated operating profit softened due to Netherland operations, improvement expected in FY25 ; Moderation in financial risk profile ; Closure of the loss-making operations in UK; Volume growth to be boosted by near-completion of Kalingnagar capex; Liquidity: Adequate. Key risks include: Cyclicality of the steel industry; Commodity risks; Foreign currency impact ; Lower than estimated cash flows, accompanied with sustained debt resulting into deterioration of the net debt/PBILDT beyond 3.0x for FY25 and beyond 2.0x from FY26 onwards.; Any large debt-funded acquisition or capex activity impacting the capital structure of the company, leading to an overall gearing above 1.5x on sustained basis.. Leadership team details include Akshay Khullar (Vice President), Ashish Anupam (Vice President), Atrayee Sanyal (Vice President), Bharti Gupta Ramola (Independent Director), Chaitanya Bhanu (Vice President), Chanakya Chaudhary (Vice President), D B Sundara Ramam (Vice President), Debashish Bhattacharjee (Vice President), Deepak Kapoor (Independent Director), Farida Khambata (Independent Director), Hans van den Berg (Chief Executive Officer), Henrik Adam (Vice President), Jayanta Banerjee (Chief Information Officer), K Parvatheesam (Company Secretary & Compliance Officer), Koushik Chatterjee (Executive Director & CFO), N Chandrasekaran (Chairman & Non-Exe.Director), Noel Naval Tata (Non Executive Vice Chairman), Peeyush Gupta (Vice President), Prabhat Kumar (Vice President), Probal Ghosh (Vice President), Rajesh Nair (Chief Executive Officer), Rajiv Kumar (Vice President), Rajiv Mangal (Vice President), Samita Shah (Vice President), Sanjib Nanda (Vice President), Saurabh Agrawal (Non Executive Director), Shekhar Mande (Independent Director), Subodh Pandey (Vice President), T V Narendran (Managing Director & CEO), Uttam Singh (Vice President), V K Sharma (Independent Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.