Tata Steel filed its Business Responsibility and Sustainability Report (BRSR) for FY26, outlining its environmental, social, and governance (ESG) performance and commitment to achieving Net Zero emissions by 2045. The report, submitted pursuant to Regulation 34(2) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, includes an Independent Reasonable Assurance Report on BRSR Core indicators provided by Price Waterhouse & Co Chartered Accountants LLP.

The company reported consolidated revenue of ₹2,32,139.94 crore for FY26, with steel products contributing 95% of the turnover. Tata Steel’s operations span 124 locations in India and 66 outside India, serving 88 countries. The workforce comprises 73,215 employees and 1,87,997 workers on a consolidated basis, with women constituting 10.6% of the employee base.

Environmental Performance and Risks

Tata Steel identified greenhouse gas emissions and climate change management as a material strategic risk, necessitating a transition to low-emission steelmaking. The company reported total Scope 1 and Scope 2 emissions of 26,723,790 tonnes of CO2e on a standalone basis. To mitigate environmental impact, Tata Steel recycled about 4.6 million tonnes of scrap during the year and implemented Zero Effluent Discharge projects at several sites.

However, the report disclosed significant regulatory challenges at its Dutch subsidiary, Tata Steel Nederland (TSN). TSN received multiple notices alleging non-compliance with emission limits and paid more than €20 million in penalties in FY26 related to its coke and gas plants. The Environment Agency and the local Province issued a letter on April 23, 2026, indicating their intention to revoke operating permits and trigger an early closure of these plants.

Social and Governance Metrics

The report detailed that Tata Steel spent 0.22% of its consolidated revenue on employee and worker well-being measures. All permanent employees and workers are covered by health and accident insurance. The company reported a Lost Time Injury Frequency Rate (LTIFR) of 0.35 on a consolidated basis. Under the Prevention of Sexual Harassment Act, 23 complaints were upheld in FY26.

Tata Steel’s Board oversees ESG implementation through committees such as the Corporate Social Responsibility and Sustainability Committee and the Risk Management Committee. The company has adopted policies aligned with the National Guidelines on Responsible Business Conduct (NGRBC) and holds certifications including ISO 14001:2015, ISO 45001:2018, and SA8000:2014.

Key Financial and Operational Data

Tata Steel Limited has declared a dividend of ₹4 per share for the financial year ended March 31, 2026. The dividend will be paid on Monday, July 6, 2026, subject to deduction of tax at source, to shareholders registered as of the record date of Friday, June 12, 2026. The announcement was made in the notice for the 119th Annual General Meeting (AGM) scheduled to be held on Thursday, July 2, 2026, at 10:30 a.m. IST via video conferencing.

The AGM agenda includes the adoption of audited standalone and consolidated financial statements for FY26. Shareholders will consider the re-appointment of Mr. Koushik Chatterjee, who retires by rotation and is eligible for re-appointment. The Board has recommended the ratification of remuneration for the Cost Auditors, Messrs Shome & Banerjee, set at ₹35 lakh plus applicable taxes and reimbursement of out-of-pocket expenses for the financial year ending March 31, 2027.

Material Related Party Transactions

The Board has proposed ordinary resolutions to seek shareholder approval for material related party transactions (RPTs) totaling ₹27,475 crore for FY2026-27. These transactions are intended to be conducted at arm’s length and in the ordinary course of business.

Transactions with Tata Capital Limited involve availing factoring services to mitigate credit risk and leasing assets to optimise capital expenditure. The company expects sales volume and prices to grow by 10% compared to the previous fiscal. Transactions with Tata International West Asia DMCC aim to leverage global trading networks for the sale and purchase of steel products, supporting the company's expansion into European, Asian, and African markets.

Additionally, Tata Steel UK Limited, a wholly-owned subsidiary, will enter into transactions with Tata International West Asia DMCC for the purchase of steel products. This arrangement supports Tata Steel UK's transition to electric arc furnace route steelmaking at Port Talbot, ensuring uninterrupted downstream operations during the restructuring phase.

The Audit Committee has reviewed and approved these proposals based on the recommendations of the management and certificates from the Chief Executive Officer & Managing Director and the Executive Director & Chief Financial Officer. An external independent consulting firm has confirmed that the proposed terms meet arm’s length testing criteria. Related parties are not entitled to vote on these resolutions.