Tata Steel Q3FY26: Consolidated EBITDA at ₹8,309 Cr, India Revenue ₹1.68 Lakh Cr
Tata Steel reported consolidated EBITDA of ₹8,309 Cr for Q3FY26 and ₹24,894 Cr for 9MFY26. India revenues reached ₹1,01,648 Cr in 9MFY26 with a 24% EBITDA margin. Consolidated revenues for 9MFY26 were ₹1.68 Lakh Cr. Net debt decreased to ₹81,834 Cr. The company is prioritizing investments in India's volume growth and downstream expansion.
The announcement pertains to the core financial performance of the company, including revenue, EBITDA, and debt levels. These are critical metrics that significantly influence investor sentiment and the company's valuation.
The company reported strong financial results with significant year-on-year improvements in EBITDA and revenues, particularly in its India operations. The management commentary also highlighted strategic growth initiatives and cost optimization, indicating a positive outlook.
Tata Steel Limited announced its financial results for the quarter and nine months ended December 31, 2025. The company reported a consolidated EBITDA of ₹8,309 crores for the quarter and ₹24,894 crores for the nine months ended December 31, 2025. Consolidated revenues for the first nine months of the financial year stood at ₹1,68,870 crores, with EBITDA improving by 31% YoY to ₹24,894 crores. India revenues for the nine months were ₹1,01,648 crores with an EBITDA of ₹24,431 crores and a margin of 24%. Netherlands revenues were €4,424 million and EBITDA was €210 million, nearly tripling YoY. UK revenues were £1,509 million with an EBITDA loss of £170 million, showing a 44% YoY improvement.
For the Oct-Dec 2025 quarter, consolidated revenues were ₹57,002 crores and EBITDA was ₹8,309 crores, a 39% YoY improvement. India revenues for the quarter were ₹35,725 crores with an EBITDA of ₹8,291 crores and a margin of 23%. Crude steel production in India increased by 12% YoY to 6.34 million tons, and deliveries reached a record 6.04 million tons, up 14% YoY. Netherlands revenues were €1,354 million with EBITDA of €55 million. UK revenues were £468 million with an EBITDA loss of £63 million.
Capital expenditure during the quarter was ₹3,291 crores, and ₹10,370 crores for the nine months. Net debt declined by ₹5,206 crores QoQ to ₹81,834 crores. The company's Board affirmed its long-term growth strategy for India, prioritizing volume growth, downstream portfolio expansion, mining assets, and new sustainable process technologies. Tata Steel also consolidated its stake in Tata Steel Colors Pvt Ltd and acquired a 50.01% stake in Thriveni Pellets Private Limited.
Mr. T V Narendran, CEO & MD, highlighted the strong performance despite a challenging global environment, with India's crude steel production rising 12% and deliveries growing 14% YoY. He noted the growth in automotive volumes, the performance of e-commerce platforms, and the expansion of the downstream portfolio.
Mr. Koushik Chatterjee, CFO, emphasized consistent performance, with EBITDA margin improving by 300 bps YoY for the nine months. Cost transformation programs delivered savings of approximately ₹3,000 crores for the quarter and ₹8,600 crores for the nine months. Consolidated Net Debt declined to ₹81,834 crores, with strong group liquidity.
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