Tata Steel Limited · NSE:TATASTEEL
Tata Steel — Q4 FY2026 Earnings Presentation
39 slides from Tata Steel's earnings presentation, May 15, 2026
Slide 1: Tata Steel Results Presentation
Auditorium in Kolkata, used 1,200 tons of Tata Steel Results Presentation May 15, 2026 steel products from Tata Steel Fourth quarter and Financial year ended 31st March 2026
Slide 2: Safe harbour statement
Safe harbour statement Statements in this presentation describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Imp
Slide 3: Global Steel landscape has become increasingly complex and divergent
Global Steel landscape has become increasingly complex and divergent Commodity price cycle Global recovery Russia Ukraine war High public debt 2021 2022 2023 2024 2025 - 26 Global Reopening Easing inflation AI & Infra investment China property crisis Uneven growth Tariffs, Middle East crisis # Trade
Slide 4: Tata Steel has delivered consistent & resilient performance
Amidst this, Tata Steel has delivered consistent & resilient performance Visible progress on the Strategic Key highlights of FY2026 roadmap in the last 5 years ▪ Volume ~ 6.7 MTPA organic & inorganic ▪ Fully ramped up 5 MTPA blast furnace, commissioned 2.2 MTPA CRM complex capacity expansion in Indi
Slide 5: Some milestones we are proud of
Some milestones we are proud of Capacity Virtual 1 MTPA ramp up reach HIsarna demo 44 million tons of Iron India quarterly deliveries Sales of US$ 1 billion Partnerships to drive ore mined in India cross 6 million tons from digital platforms technological progress Product worldsteel EASyMelt innovat
Slide 6: Strategic Update
STRATEGIC UPDATE EAF at Ludhiana Defining sustainability milestone 2.2 MTPA CRM mill 0.5 MTPA combi mill to Built with an investment of approximately Rs 3,200 crores, the Ludhiana fully commissioned at cater to special steel EAF has a capacity of 0.75 million tons per annum and is designed to Kaling
Slide 7: We are committed to 'Zero Harm'
We are committed to ‘Zero Harm’ Journey towards excellence in Safety & Health of employees1 Fatalities2 ▪ Strengthened safety governance structure with 38% 4 5 4 5 6 focus on training and communication ▪ Emergency preparedness strengthened via training LTIFR* Workplace session & BF gas leak mock dri
Slide 8: Improving quality of life of our communities
Improving quality of life of our communities Social capital and scalable change models to enable deep societal impact 69 lakh+ 68 >₹2,500 cr targets prioritised across 15 lives impacted1 spent2 over last 5 years relevant UN SDG goals FY2026 highlights Rural and Urban Public Health and Grassroots Tri
Slide 9: Focused on creating Sustainable Value
Focused on creating Sustainable Value Leadership in Leadership in Robust Financial India Technology & Digital Health Leadership in Consolidate position Become Future Sustainability as Global Cost Leader Ready 9
Slide 10: Tata Steel is scaling up in India to capitalise on growth opportunity
Tata Steel is scaling up in India to capitalise on growth opportunity Structurally attractive market Doubling of India steelmaking capacity outpaced India demand growth in the last 8 years 200 in million tons 164 in million tons 5.0 MTPA Kalinganagar Land bank available to grow Capacity beyond 40 MT
Slide 11: Volume play: Calibrated and sequenced flat / longs products expansion
Volume play : Calibrated and sequenced flat / longs products expansion Capacity expansion projects ▪ 0.75 MTPA EAF ramp up ongoing ▪ 2.5 MTPA finished steel (flat steel) expansion o Mill lateral line hot rolling started o Plan to setup 2.5 MTPA Thin Slab Caster & Rolling facility o Around 40% scrap
Slide 12: Value play: Investment in downstream to drive sector leading returns
Value play : Investment in downstream to drive sector leading returns Price Ladder Capacity expansion projects Color Coated ▪ 2.2 MTPA CRM complex at Kalinganagar ▪ Strategic investment in Color coated business & Tinplate » CR Downstream Narrow Cut To Length line » Establishment of Tata Steel Colors
Slide 13: Multi-pronged strategy to enable leadership in chosen segments
Multi-pronged strategy to enable leadership in chosen segments Chosen segments Strategic focus ▪ Supplier of Choice in Auto ▪ Grow in high margin retail » Localisation of advanced grades » Hyperlocal presence 80+ 35 » Industry first services » Early engagement via Aashiyana steel processing construc
Slide 14: Sustainability is at the core of our strategy
Sustainability is at the core of our strategy Route and pace of decarbonisation being calibrated across geographies India : Pursuing multiple initiatives to achieve ‘responsible’ growth 10 – 15%a reduction in emission intensity for TSL by 2030 vs. FY2025 Water, Air & Dust Commissioned scrap-based EA
Slide 15: Progressing towards sustainable steelmaking in UK and Netherlands
Progressing towards sustainable steelmaking in UK and Netherlands In UK, transition to scrap-based EAF steelmaking to reduce Over €300 million spent towards sustainability linked 50 million tons CO2e over a decade initiatives to reduce emissions EAF project update Roadmap Plus EAF project – Transiti
Slide 16: Embracing Digital and Technology to create and unlock value
Embracing Digital and Technology to create and unlock value Manufacturing Excellence Functional Excellence Customer Experience Unified Customer Service Agents Realtime tracking, Complaints & Relationship Management through “Ask me anything” chat interface TISCA on WhatsApp Aashi Speedy Assistance fo
Slide 17: Enhancing competitiveness through cost and efficiency programs
Enhancing competitiveness through cost and efficiency programs FY2026 cost transformation program Translates to 95% Compliance Targeted focus on cost to has delivered ~Rs 10,868 crores to target of Rs 11,500 crores continue in FY2027 Rs crores 5 ~10,868 4 3 36% 46% Rs 10,868 crs 2 Rs 7,140 crs or or
Slide 18: Financial Management to enable returns across cycle
Financial Management to enable returns across cycle Balance sheet management Total Shareholder Returns1 (%) Optimise Capital Structure & Cost Tata Steel Nifty 50 Sensex Onshoring debt to drive efficiency 18 18 13 13 10 9 12 11 Capital allocation Value accretive investments 5 years 10 years 25 years
Slide 19: People-Driven Impact: Enhancing Culture, Capability & Cost Efficiency
People-Driven Impact: Enhancing Culture, Capability & Cost Efficiency Skilling for impact ▪ Launch of an organisation-wide Generative AI learning to accelerate adoption ▪ Capability building in emerging technologies such as Electric Arc Furnace, Sustainability, and Green Steel Stronger together as O
Slide 20: Business Update
BUSINESS UPDATE Resource efficiency Energy optimisation Acquired majority TSN acquired Vattenfall Tata Steel partnered with Kraftblock GmbH to deploy a stake in Thriveni to strengthen energy thermal energy storage system that recovers high temperature waste heat to warm process water. Helps Pellets
Slide 21: In 4Q, Improved steel prices offset the surge in input costs
In 4Q, Improved steel prices were able to offset the surge in input costs ▪ During the quarter, global steel prices moved higher Global HRC prices ($/t) Steelmaking raw material ($/t) aided by regulation and seasonal factors 1,500 US Domestic Germany domestic 270 Met Coal (Aus FOB) 140 Iron ore (CFR
Slide 22: India steel demand remains firm while policy to reshape EU & UK market
India steel demand remains firm while policy to reshape EU & UK market India EU & UK ▪ India apparent steel demand continued to grow, and exports ▪ EU implemented CBAM and EC has approved tighter remained higher than imports for second consecutive quarter safeguards effective 01st July 2026 ▪ West A
Slide 23: India achieved best-ever annual deliveries of 22.5 mn tons
India achieved best-ever annual deliveries of 22.5 mn tons, up 8% YoY Tata Steel India deliveries (mn tons) End use sectors (mn tons) Domestic Exports Auto and Retail : Individual Construction & ancillaries housebuilders Infrastructure 22.5 5.3 5.2 5.1 5.0 3.4 3.5 20.9 4.5 4.6 3.1 19.9 20.5 19.7 18.
Slide 24: Auto: Consolidate market leadership via new downstream facilities
Auto: Consolidate market leadership via new downstream facilities Real time customer support experience using Mixed ▪ Value play : Investments in new facilities to enhance product capability Reality Solutions Commercial ramp-up of TSK CAL Combi mill enhancing specialty steel and CGL at record pace →
Slide 25: Enabling access to next-gen construction solutions & sustainable steel
Enabling access to next-gen construction solutions & sustainable steel Branded presence aided by omnichannel Reshaping construction practices via Transition towards sustainable steelmaking routes advanced ready-to-use solutions and products Plate Fabricated Mobil Bore Pile Cage for Create your dream
Slide 26: Industrial Products & Projects: Growth via product development & customer additions
Industrial Products & Projects: Growth via product development & customer additions Approval of Cold Rolled UHSS grade received from a major PV OEM within 6 months of CAL start-up ~771 km 56 mn sq ft. 5.9 GW 20,000 Oil & Gas PEB Solar Mounting Construction pipelines structures Structures equipment u
Slide 27: Downstream: Robust growth in discerning segment through value added play
Downstream: Robust growth in discerning segment through value added play Tubes : Best-ever deliveries in FY2026 14% YoY Tinplate : Best-ever India deliveries in FY2026 10% YoY ➢ Leading share in high-value ➢ Developed and commercialised new infrastructure projects grade for Coffee cans ➢ Hi-tensile
Slide 28: Tata Steel Consolidated
Tata Steel Consolidated (All figures are in Rs. Crores Key drivers for QoQ change: 4QFY26 3QFY26 4QFY25 unless stated otherwise) Production (mn tons)1 8.23 8.38 7.45 ▪ Revenues: increased by 11% primarily driven by higher Deliveries (mn tons) 8.72 8.21 8.33 steel realisations in India and improved v
Slide 29: Consolidated 4QFY26 EBITDA stood at Rs 9,946 crores
Consolidated 4QFY26 EBITDA1 stood at Rs 9,946 crores 810 ▪ Market impact relates to higher steel 1,315 realisations especially in India 2,180 ▪ Volume impact primarily relates to improved volumes in India & Netherlands 9,946 ▪ Others relates to higher operating costs 8,270 including consumables and
Slide 30: Tata Steel Consolidated
Tata Steel Consolidated (All figures are in Rs. Crores Key drivers for QoQ change: FY2026 FY2025 unless stated otherwise) Production (mn tons)1 31.67 30.92 ▪ Revenues: increased by 6% primarily driven by higher Deliveries (mn tons) 31.97 30.96 volumes in India despite the drop in steel realisations
Slide 31: Consolidated FY2026 EBITDA stood at Rs 34,640 crores
Consolidated FY2026 EBITDA1 stood at Rs 34,640 crores 8,013 ▪ Market impact primarily relates to lower 10,868 realisations across geographies being offset by favourable raw material prices 2,713 - ▪ Volume impact primarily on account of 2,942 - rise in volumes in India partly offset by decline in UK
Slide 32: Net debt decreased to Rs 80,144 crores
Net debt decreased to Rs 80,144 crores Onshoring $1.2 billion foreign-currency denominated debt and FX hedging mitigated INR depreciation during the year 2,508 94,801 9,105 4,178 92,382 11,573 664 80,144 Gross Debt Movement in Loan FX Impact Gross Debt Cash, Bank & MTM gain on Net Debt Mar'25 leases
Slide 33: Key financial credit metrices
Key financial credit metrices EBITDA Margin (%)1 EBITDA / ton (Rs.)1 Interest Coverage Ratio (x)1,2 Gross & Net Debt (Rs crores) 26.2% 11.7 21,626 94,801 92,382 19.8% 88,501 84,893 87,082 75,561 10,838 11,358 10,900 15.0% 5.2 82,430 80,144 13.4% 4.9 77,550 7,962 8,335 11.8% 3.5 75,389 67,810 3.1 10.
Slide 34: Annexures
ANNEXURES Innovation Research & Development Digital Management Quality control Centre at a laboratory at one of steelmaking site our sites
Slide 35: Tata Steel: Key operating parameters
Tata Steel : Key operating parameters India (Standalonea) TSUK TSN Coke Rate (kg/thm) Specific Energy Consumption (GJ/tcs) CO2 Emission Intensity (tCO2/tcs) Good Good Good 357 2.5 356 2.5 2.5 354 2.4 2.4 348 25.5 24.5 24.5 2.2 2.2 24.0 2.2 23.6 340 23.3 339 23.1 23.1 337 20.9 20.4 1.8 1.8 1.8 19.5 3
Slide 36: Tata Steel Standalone
Tata Steel Standalone (All figures are in Rs. Crores Key drivers for QoQ change: 4QFY26 3QFY26 4QFY25 unless stated otherwise) Production (mn tons) 5.97 6.04 5.24 ▪ Revenues: increased by 8%, primarily driven by uplift in Deliveries (mn tons) 6.19 6.04 5.60 steel realisations by around Rs 3,100 per
Slide 37: Tata Steel Netherlands
Tata Steel Netherlands (All figures are in Rs. Crores Key drivers for QoQ change: 4QFY26 3QFY26 4QFY25 unless stated otherwise) ▪ Revenues: increased by 22% on account of higher Liquid Steel production (mn tons) 1.63 1.68 1.63 deliveries despite drop in steel realisations QoQ Deliveries (mn tons) 1.
Slide 38: Tata Steel UK
Tata Steel UK (All figures are in Rs. Crores Key drivers for QoQ change: 4QFY26 3QFY26 4QFY25 unless stated otherwise) Liquid Steel production (mn tons) - - - ▪ Revenues: was marginally higher driven by improved realisations while volumes remained broadly flat Deliveries (mn tons) 0.52 0.52 0.63 Tot
Slide 39: Tata Steel Investor Relations
Tata Steel Investor Relations Investor enquiries ir@tatasteel.com