Tata Steel posts 16% rise in Q2 profit and announces director Noel Tata's retirement
Tata Steel reported a 16.2% year-on-year increase in profit after tax to Rs 3,700 crore for Q2 FY27, with revenue up 11.5% to Rs 65,436 crore, and said Noel Naval Tata will step down as director in November 2026.
Tata Steel said its consolidated profit after tax grew 16.2% year-on-year to Rs 3,699.59 crore in the September quarter of FY27, compared with Rs 3,183.09 crore a year earlier. Consolidated revenue from operations rose 11.5% to Rs 65,436.24 crore.
The company’s EBITDA reached Rs 10,665 crore, a margin of about 16%, improving 14% quarter-on-quarter and 17% year-on-year. In India, revenue was Rs 42,653 crore and EBITDA margin stood at 25%.
Noel Naval Tata will retire as a non-executive, non-independent director and vice-chairman of the board effective close of business on 11 November 2026.
"We continued to make progress on our volume and value growth agenda in India, supported by customer engagement and a resilient supply chain," said T V Narendran, chief executive officer and managing director.
He added that the automotive and special products businesses performed strongly and that the company was advancing capacity-expansion projects.
"Higher volumes in India and operational normalisation in the Netherlands helped offset elevated input costs," said Koushik Chatterjee, executive director and chief financial officer.
Chatterjee noted that the amalgamation of Neelachal Ispat Nigam Limited with Tata Steel remains on track pending final court approval, and that work on the UK electric-arc furnace project is accelerating.
Net debt stood at Rs 91,423 crore, with a net-debt-to-EBITDA ratio of 2.4 times, while group liquidity was Rs 40,076 crore, including cash and cash equivalents of about Rs 10,300 crore.
Shares closed at Rs 186 on the Bombay Stock Exchange, up 2.2% from the prior close.