Tata Steel (TATASTEEL) — concall transcript

📢 Key Event
Tata Steel reported record quarterly deliveries and production, with India output exceeding 19 million tonnes and Europe EBITDA surpassing GBP 1.2 billion.

🔄 What Changed
Record production and deliveries in India; improved EBITDA margin in Europe; Neelachal acquisition closing; record dividend announced.

🔮 What's Next
Coking coal prices expected to rise $100/t in India and EUR 50-60/t in Europe in Q1; net steel realizations projected to increase Rs 8,000-8,500/tonne in India and EUR 60/tonne in Europe; capex guidance of Rs 10,000-12,000 crores maintained; 40 million tonne capacity target by 2030.

💡 Investor Takeaway
The company is executing disciplined growth with strong cash flows, prioritizing deleveraging and shareholder returns while expanding sustainable steel capacity.

Tata Steel delivered record performance in Q4 FY22, with India crude steel production crossing 19 million tonnes and deliveries reaching 5.12 million tonnes, the highest ever. Despite volatile commodity markets and rising input costs, the company limited net realization declines to Rs 1,500 per tonne against a guidance of Rs 3,500 drop. Europe EBITDA exceeded GBP 1.2 billion, with strong pricing and contract mix supporting margins. Capex of Rs 10,522 crores stayed within guidance, and the Neelachal acquisition is set to close this quarter, adding 6,000 acres for future expansion. The Board recommended a record dividend of Rs 51 per share and a 10:1 stock split. Management highlighted sustainable growth plans, including EAF facilities and capacity targets of 40 million tonnes in India by 2030.

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About Tata Steel Ltd (TATASTEEL)

Metals & Mining · Steel · Listed on BSE

Market Cap: ₹2,28,261.37 Cr P/E: 20.7 ROE: 11.0% ROCE: 12.7% Div Yield: 2.19%

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🔥 Also filed on 31 March 2022

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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