Tata Steel Q1 results, quarter to Jun 2026

NSE: TATASTEELBSE: 500470Ferrous MetalsLarge Cap

Tata Steel Limited · Formerly Tata Iron and Steel Co. · Face value ₹1 · Listed Jan 1939 on BSE, Nov 1998 on NSE

₹169.46₹0.19 (0.11%)BSE ₹169.50

Share price at the NSE close on 29 Oct 2026. Previous close ₹169.27.

29 Oct: open ₹168.71, high ₹169.65, low ₹167.91

52-week range of traded prices to 29 Oct 2026

₹160.06Low, 9 Dec 2025₹224.40High, 15 May 2026

Next results date: the board meets on 7 Nov 2026 to consider: financial results and other business matters. The notice · Results calendar

Market cap: ₹2,11,546 Cr36th largest listed
P/E: 19.17
P/E without one-offs: 17.23
P/B: 2.07
Dividend yield: 2.36%
ROE: 11.4%
ROE without one-offs: 12.7%
ROCE: 11.9%
Debt to equity: 0.89
Volume, NSE: 1,37,28,78949.4% delivered

Tata Steel filed its Q1 results for the quarter to Jun 2026 on 30 Jul 2026 at 7:55 pm, consolidated: the company and its subsidiaries together.

Q1 results, quarter to Jun 2026

₹ crore.Tata Steel annual results and balance sheet

Revenue: ₹60,794 Cr+14.3% on a year ago · −3.9% on the quarter before
Operating profit: ₹9,264 Cr+24.7% on a year ago · −5.7% on the quarter before
Net profit: ₹2,385 Cr+18.8% on a year ago · −19.6% on the quarter before
Earnings per share: ₹1.86+11.4% on a year ago · −20.5% on the quarter before
Operating margin: 15.2%
Net margin: 3.9%

From revenue to net profit, ₹ crore

Revenue60,794
Materials and goods−22,954
Employee costs−7,226
Other expenses−21,350
Operating profit9,264
Depreciation−3,640
Other income+233
One-off items−345
Finance costs−1,771
Profit before tax3,741
Tax−1,452
Joint ventures+96
Net profit2,385

Tata Steel results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Jun 2026. Results for the quarter to Sep 2026 are due by 14 Nov 2026, 45 days after it ends. Every company's dates are on the results calendar.Results filings and date

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit
Loss

Peak revenue ₹63,270 Cr, quarter to Mar 2026; lowest ₹53,178 Cr, quarter to Jun 2025A loss in 1 of the 12 quarters shown

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Sep 2021	Dec 2021Filed 4 Feb	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023Q1	Sep 2023	Dec 2023Q3	Mar 2024	Jun 2024Q1	Sep 2024	Dec 2024Q3	Mar 2025Q4	Jun 2025Q1Filed 30 Jul	Sep 2025Q2Filed 12 Nov	Dec 2025Q3Filed 6 Feb	Mar 2026Q4Filed 15 May	Jun 2026Q1Filed 30 Jul
Revenue from operations	60,283	60,783	69,324	63,430	59,878	57,084	62,962	59,490	55,682	55,312	58,687	54,771	53,905	53,648	56,218	53,178	58,689	57,002	63,270	60,794
	43,827	44,889	54,294	48,457	53,817	53,036	55,742	54,316	51,414	49,048	52,087	48,077	47,763	47,745	49,659	45,751	49,793	48,803	53,441	51,530
Materials and goods bought	19,115	20,126	27,630	23,221	31,527	30,023	28,656	27,475	25,903	22,447	26,091	22,423	23,943	23,930	24,704	20,579	24,426	22,442	26,171	22,954
Employee costs	5,862	5,683	6,056	5,963	5,318	5,342	5,795	5,925	5,917	6,527	6,141	6,467	6,327	6,072	6,023	6,599	6,349	6,353	6,698	7,226
Other expenses	18,850	19,080	20,607	19,273	16,972	17,671	21,291	20,915	19,594	20,075	19,855	19,187	17,494	17,742	18,932	18,573	19,018	20,008	20,572	21,350
Operating profit before depreciation	16,456	15,894	15,030	14,973	6,060	4,048	7,219	5,174	4,268	6,264	6,601	6,694	6,141	5,903	6,559	7,428	8,897	8,200	9,829	9,264
Operating margin	27.3%	26.1%	21.7%	23.6%	10.1%	7.1%	11.5%	8.7%	7.7%	11.3%	11.2%	12.2%	11.4%	11.0%	11.7%	14.0%	15.2%	14.4%	15.5%	15.2%
Depreciation and amortisation	2,289	2,244	2,243	2,237	2,348	2,368	2,382	2,412	2,480	2,422	2,568	2,535	2,597	2,569	2,720	2,744	2,893	3,049	3,268	3,640
Other income	271	60	292	268	329	271	170	1,177	228	228	176	260	599	221	461	289	364	501	248	233
Finance costs	1,020	1,532	1,099	1,218	1,519	1,768	1,794	1,825	1,959	1,881	1,842	1,777	1,971	1,804	1,789	1,852	1,775	1,747	1,792	1,771
Profit before one-off items and tax	13,418	12,177	11,980	11,786	2,523	182	3,213	2,113	57	2,189	2,366	2,642	2,172	1,751	2,512	3,119	4,592	3,905	5,016	4,087
One-off items	516	−193	−274	−39	−19	160	12	13	−6,899	−334	−594	−358	18	−126	−389	−132	−420	−140	−340	−345
Profit before tax	13,934	11,983	11,706	11,747	2,503	342	3,225	2,127	−6,842	1,855	1,772	2,284	2,190	1,625	2,123	2,987	4,172	3,765	4,676	3,741
	1,572	2,567	2,030	4,192	1,308	2,905	1,755	1,331	−228	1,406	1,254	1,458	1,405	1,377	999	1,060	1,039	1,138	1,845	1,452
Current tax	−1,196	2,803	3,006	2,405	1,045	755	1,157	1,027	1,105	1,805	1,353	571	1,142	457	1,386	877	1,208	1,267	1,911	1,000
Deferred tax	2,768	−235	−976	1,787	263	2,150	598	304	−1,333	−399	−99	888	263	920	−387	183	−168	−128	−65	453
Tax rate	11.3%	21.4%	17.3%	35.7%	52.3%	848.2%	54.4%	62.6%	–	75.8%	70.8%	63.8%	64.2%	84.7%	47.0%	35.5%	24.9%	30.2%	39.5%	38.8%
Share of profit of joint ventures and associates	185	182	159	160	102	60	96	−271	103	73	37	93	−25	47	77	80	51	104	134	96
	12,548	9,598	9,835	7,714	1,297	−2,502	1,566	525	−6,511	522	555	919	759	295	1,201	2,007	3,183	2,730	2,965	2,385
Belonging to the company's shareholders	11,918	9,573	9,756	7,765	1,514	−2,224	1,705	634	−6,196	513	611	960	833	327	1,301	2,078	3,102	2,689	2,926	2,318
Belonging to outside owners of subsidiaries	630	25	79	−51	−217	−278	−139	−109	−315	9	−57	−41	−75	−31	−100	−70	81	42	39	67
Other comprehensive income	−715	887	519	−6,611	−3,414	−3,629	−195	−3,173	−774	1,041	−322	176	732	−857	221	2,344	1,491	866	791	−48
Total comprehensive income	11,833	10,485	10,354	1,103	−2,117	−6,131	1,371	−2,648	−7,285	1,564	232	1,095	1,491	−561	1,422	4,352	4,674	3,597	3,756	2,337
Net margin	20.8%	15.8%	14.2%	12.2%	2.2%	−4.4%	2.5%	0.9%	−11.7%	0.9%	0.9%	1.7%	1.4%	0.6%	2.1%	3.8%	5.4%	4.8%	4.7%	3.9%
Net margin without joint ventures and associates	20.5%	15.5%	14.0%	11.9%	2.0%	−4.5%	2.3%	1.3%	−11.9%	0.8%	0.9%	1.5%	1.5%	0.5%	2.0%	3.6%	5.3%	4.6%	4.5%	3.8%
Earnings per share	₹9.92	₹7.91	₹7.99	₹6.36	₹1.24	−₹1.82	₹1.40	₹0.52	−₹5.08	₹0.42	₹0.49	₹0.77	₹0.67	₹0.26	₹1.04	₹1.67	₹2.49	₹2.16	₹2.34	₹1.86
Diluted earnings per share	₹9.91	₹7.91	₹7.99	₹6.36	₹1.24	−₹1.82	₹1.40	₹0.52	−₹5.08	₹0.42	₹0.49	₹0.77	₹0.67	₹0.26	₹1.04	₹1.67	₹2.49	₹2.16	₹2.34	₹1.86

Earnings per share in rupees, restated for later splits and bonuses.

Segment results by quarter

Consolidated, ₹ crore, quarters to Jun 2026.Tata Steel segment results by year

Tata Steel India
Revenue, ₹ crore
33,223
34,682
36,635
32,960
32,399
32,760
34,399
31,014
34,680
35,578
38,448
36,897
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
6,917
8,257
8,190
6,750
6,734
7,624
7,105
7,263
8,394
7,940
9,439
9,409
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Tata Steel Netherlands Operations
Revenue, ₹ crore
15,719
14,001
17,016
15,803
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
916
570
624
39
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Other Trade Related Operations
Revenue, ₹ crore
12,377
15,351
13,654
13,170
12,346
10,880
9,216
9,664
8,481
9,894
11,522
12,689
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
750
601
−193
−33
1,034
−1,204
340
71
37
39
461
−127
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Tata Steel UK Operations
Revenue, ₹ crore
5,927
5,536
5,774
6,115
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
−765
−742
−591
−341
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Other Indian Operations
Revenue, ₹ crore
4,620
2,907
3,199
2,631
2,377
2,480
2,861
2,381
2,630
2,836
5,097
4,395
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
330
252
264
104
120
145
185
79
127
243
259
439
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
South East Asian Operations
Revenue, ₹ crore
1,798
1,637
1,913
1,865
1,767
1,777
2,064
2,143
2,352
1,906
2,205
2,346
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
11
9
35
43
−32
42
79
156
330
194
94
194
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Neelachal Ispat Nigam Limited
Revenue, ₹ crore
1,284
1,427
1,126
1,478
1,348
1,458
1,417
927
1,284
1,563
1,507
1,712
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
−76
45
71
279
178
297
313
224
260
351
402
498
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Rest of the World
Revenue, ₹ crore
528
497
34
398
494
355
175
415
729
385
266
340
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
56
7
−185
−94
−128
−83
−395
−287
18
9
−577
−311
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26

₹ crore	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue of all businesses	72,677	74,643	76,382	72,076	69,769	68,202	69,443	66,130	71,802	71,699	81,836	80,297
Company revenue, as in its results	55,682	55,312	58,687	54,771	53,905	53,648	56,218	53,178	58,689	57,002	63,270	60,794
Revenue	33,223	34,682	36,635	32,960	32,399	32,760	34,399	31,014	34,680	35,578	38,448	36,897
Revenue growth	3.0%	13.8%	6.9%	1.9%	−2.5%	−5.5%	−6.1%	−5.9%	7.0%	8.6%	11.8%	19.0%
Profit	6,917	8,257	8,190	6,750	6,734	7,624	7,105	7,263	8,394	7,940	9,439	9,409
Profit growth	34.7%	54.8%	1.3%	−8.1%	−2.6%	−7.7%	−13.3%	7.6%	24.6%	4.2%	32.9%	29.6%
Margin	20.8%	23.8%	22.4%	20.5%	20.8%	23.3%	20.7%	23.4%	24.2%	22.3%	24.6%	25.5%
Assets	1,77,856	1,87,469	1,88,677	1,90,085	1,88,754	1,92,480	1,90,812	1,96,844	1,89,211	1,87,313	1,88,361	1,97,644
Liabilities	1,11,381	1,13,862	1,10,927	1,11,510	1,21,494	1,21,719	1,30,387	1,34,098	1,35,159	1,33,628	1,40,200	1,46,457
Capital employed	66,475	73,607	77,750	78,575	67,261	70,761	60,425	62,746	54,053	53,685	48,161	51,187
Revenue	–	–	–	–	–	–	–	–	15,719	14,001	17,016	15,803
Profit	–	–	–	–	–	–	–	–	916	570	624	39
Margin	–	–	–	–	–	–	–	–	5.8%	4.1%	3.7%	0.2%
Assets	–	–	–	–	–	–	–	–	59,982	62,465	64,871	63,052
Liabilities	–	–	–	–	–	–	–	–	25,800	28,382	27,452	26,635
Capital employed	–	–	–	–	–	–	–	–	34,182	34,083	37,420	36,417
Revenue	12,377	15,351	13,654	13,170	12,346	10,880	9,216	9,664	8,481	9,894	11,522	12,689
Revenue growth	−26.5%	3.8%	−20.7%	−13.9%	−0.3%	−29.1%	−32.5%	−26.6%	−31.3%	−9.1%	25.0%	31.3%
Profit	750	601	−193	−33	1,034	−1,204	340	71	37	39	461	−127
Profit growth	–	−31.5%	–	–	37.9%	–	–	–	−96.4%	–	35.6%	–
Margin	6.1%	3.9%	−1.4%	−0.2%	8.4%	−11.1%	3.7%	0.7%	0.4%	0.4%	4.0%	−1.0%
Assets	28,081	28,740	28,682	27,478	29,018	29,354	12,463	13,101	10,559	12,200	15,266	15,605
Liabilities	37,151	39,290	40,869	37,306	28,418	31,089	21,313	21,937	19,657	19,876	18,908	19,479
Capital employed	−9,070	−10,550	−12,188	−9,827	600	−1,734	−8,850	−8,836	−9,098	−7,676	−3,642	−3,874
Revenue	–	–	–	–	–	–	–	–	5,927	5,536	5,774	6,115
Profit	–	–	–	–	–	–	–	–	−765	−742	−591	−341
Margin	–	–	–	–	–	–	–	–	−12.9%	−13.4%	−10.2%	−5.6%
Assets	–	–	–	–	–	–	–	–	15,519	14,783	17,667	17,951
Liabilities	–	–	–	–	–	–	–	–	13,765	12,272	13,499	13,170
Capital employed	–	–	–	–	–	–	–	–	1,754	2,510	4,168	4,781
Revenue	4,620	2,907	3,199	2,631	2,377	2,480	2,861	2,381	2,630	2,836	5,097	4,395
Revenue growth	−16.8%	−48.4%	−49.4%	−52.8%	−48.5%	−14.7%	−10.6%	−9.5%	10.6%	14.4%	78.2%	84.6%
Profit	330	252	264	104	120	145	185	79	127	243	259	439
Profit growth	230.4%	116.8%	−51.7%	−54.6%	−63.6%	−42.6%	−29.9%	−24.6%	5.9%	67.6%	39.5%	456.8%
Margin	7.1%	8.7%	8.3%	4.0%	5.0%	5.8%	6.5%	3.3%	4.8%	8.6%	5.1%	10.0%
Assets	14,590	11,027	11,046	8,900	7,774	7,844	7,961	7,910	8,241	10,291	12,724	12,846
Liabilities	3,948	2,742	2,546	2,309	2,098	2,189	2,202	2,260	2,560	4,381	5,711	5,718
Capital employed	10,642	8,285	8,500	6,591	5,676	5,654	5,758	5,650	5,681	5,911	7,013	7,128
Revenue	1,798	1,637	1,913	1,865	1,767	1,777	2,064	2,143	2,352	1,906	2,205	2,346
Revenue growth	−13.3%	−15.9%	−13.0%	−0.8%	−1.7%	8.6%	7.9%	14.9%	33.1%	7.3%	6.8%	9.5%
Profit	11	9	35	43	−32	42	79	156	330	194	94	194
Profit growth	−90.2%	–	−44.4%	−21.0%	–	345.4%	123.0%	264.7%	–	367.3%	19.1%	24.3%
Margin	0.6%	0.6%	1.9%	2.3%	−1.8%	2.3%	3.8%	7.3%	14.0%	10.2%	4.3%	8.3%
Assets	3,598	3,860	3,733	3,717	4,055	4,026	4,224	4,453	4,971	5,117	5,380	5,330
Liabilities	768	860	807	793	770	806	916	912	950	809	1,109	995
Capital employed	2,830	3,000	2,926	2,923	3,285	3,219	3,308	3,542	4,021	4,307	4,271	4,335
Revenue	1,284	1,427	1,126	1,478	1,348	1,458	1,417	927	1,284	1,563	1,507	1,712
Revenue growth	–	–	–	–	5.0%	2.2%	25.8%	−37.3%	−4.7%	7.2%	6.4%	84.7%
Profit	−76	45	71	279	178	297	313	224	260	351	402	498
Profit growth	–	–	–	–	–	555.2%	343.5%	−20.0%	46.4%	18.2%	28.3%	123.0%
Margin	−6.0%	3.2%	6.3%	18.9%	13.2%	20.4%	22.1%	24.1%	20.3%	22.4%	26.6%	29.1%
Assets	13,238	13,400	12,809	13,046	12,900	13,343	13,388	13,524	13,663	14,020	14,239	14,769
Liabilities	7,510	7,895	7,503	7,733	7,720	8,177	8,252	8,457	8,440	8,799	9,034	9,434
Capital employed	5,728	5,505	5,307	5,312	5,180	5,167	5,137	5,068	5,223	5,222	5,205	5,335
Revenue	528	497	34	398	494	355	175	415	729	385	266	340
Profit	56	7	−185	−94	−128	−83	−395	−287	18	9	−577	−311
Margin	10.7%	1.3%	−547.6%	−23.6%	−25.8%	−23.5%	−225.2%	−69.2%	2.4%	2.4%	−216.8%	−91.5%
Assets	8,031	6,905	6,825	7,041	6,960	7,106	6,703	6,960	7,104	6,971	7,048	6,768
Liabilities	10,798	9,802	10,111	10,592	10,852	11,345	11,547	12,105	12,550	12,502	13,226	13,216
Capital employed	−2,766	−2,897	−3,286	−3,551	−3,892	−4,240	−4,844	−5,145	−5,446	−5,532	−6,177	−6,448
Revenue	18,847	18,142	19,821	19,575	19,038	18,491	19,311	19,585	–	–	–	–
Revenue growth	−12.6%	−12.5%	−10.1%	−8.2%	1.0%	1.9%	−2.6%	0.1%	–	–	–	–
Profit	−2,512	−2,872	−659	−499	−1,344	−736	−748	144	–	–	–	–
Margin	−13.3%	−15.8%	−3.3%	−2.5%	−7.1%	−4.0%	−3.9%	0.7%	–	–	–	–
Assets	67,578	68,213	66,347	67,770	72,457	67,742	68,607	73,353	–	–	–	–
Liabilities	53,129	57,493	56,822	58,060	64,142	60,794	42,613	45,133	–	–	–	–
Capital employed	14,449	10,720	9,525	9,710	8,315	6,949	25,995	28,220	–	–	–	–
Revenue	–	−19,331	−17,694	−17,305	−15,864	−14,554	−13,225	−12,951	−13,113	−14,697	−18,565	−19,503
Profit	–	35	−893	272	−339	−90	−118	−169	−212	−296	−156	−431
Assets	–	−40,712	−44,740	−40,121	−41,123	−41,756	−24,764	−25,634	−23,685	−22,946	−24,559	−25,559
Liabilities	–	−45,207	−48,595	−43,928	−45,162	−45,948	−29,188	−30,094	−29,247	−29,372	−31,666	−32,558
Revenue	−16,995	–	–	–	–	–	–	–	–	–	–	–
Profit	−1,160	–	–	–	–	–	–	–	–	–	–	–
Assets	−41,201	–	–	–	–	–	–	–	–	–	–	–
Liabilities	−43,672	–	–	–	–	–	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Q1 results, quarter to Jun 2026

From revenue to net profit, ₹ crore

Tata Steel results by quarter

Revenue and net profit by quarter, ₹ crore

Operating and net margin by quarter, per cent

Segment results by quarter

Tata Steel India

Tata Steel Netherlands Operations

Other Trade Related Operations

Tata Steel UK Operations

Other Indian Operations

South East Asian Operations

Neelachal Ispat Nigam Limited

Rest of the World