Tata Steel Limited has delivered robust financial performance for Q3FY26, reporting consolidated EBITDA of ₹8,309.00 crores with a margin of around 15.00%, representing a significant 39.00% year-on-year improvement. The company announced these results on February 6, 2026, following its Board meeting and regulatory filing under Regulation 33 of SEBI Listing Regulations.

Strong Financial Performance Across Operations

The company's consolidated revenues for Q3FY26 reached ₹57,002.40 crores, while nine-month revenues stood at ₹1,68,869.81 crores with EBITDA of ₹24,894.38 crores, marking a 31.00% year-on-year improvement despite challenging operating conditions.

India Operations Lead Growth with Record Performance

Tata Steel's India operations demonstrated exceptional performance with revenues of ₹35,578.36 crores and EBITDA of ₹8,291.00 crores, translating to a healthy margin of 23.00%. The India business achieved record quarterly deliveries of 6.04 million tons, up 14.00% year-on-year, supported by crude steel production growth of 12.00% to 6.34 million tons.

International Operations Show Mixed Results

The Netherlands operations generated revenues of €1,354.00 million with EBITDA of €55.00 million, while liquid steel production reached 1.68 million tons and deliveries stood at 1.40 million tons. UK operations faced continued challenges with revenues of £468.00 million and EBITDA loss of £63.00 million, with deliveries at 0.52 million tons impacted by subdued demand and steady imports.

Strategic Acquisitions and Expansion

Tata Steel completed the acquisition of the remaining 50.00% stake in Tata BlueScope Steel Private Limited (now renamed Tata Steel Colors Private Limited) for ₹1,099.97 crores on December 31, 2025. The company also signed agreements to acquire 50.01% stake in Thriveni Pellets Private Limited for ₹635.13 crores, which was completed on January 30, 2026.

Cost Transformation and Digital Initiatives

Tata Steel's cost transformation program delivered savings of around ₹3,000.00 crores for the quarter and ₹8,600.00 crores for nine months. The company's digital platforms, Aashiyana and DigECA, achieved Gross Merchandise Value of ₹2,380.00 crores for the quarter, up 68.00% year-on-year, while automotive volumes grew 20.00% year-on-year.

Earnings Discussion and Regulatory Compliance

Following the board meeting on February 6, 2026, Tata Steel hosted its Q3FY26 earnings discussion. The company has made the audio-video recording of the earnings discussion available on its website at https://www.tatasteel.com/investors/financial-performance/analyst-call-recording , in compliance with Regulation 30 of SEBI Listing Regulations.

Financial Position and Outlook

Net debt declined by ₹5,206.00 crores quarter-on-quarter to ₹81,834.00 crores, while group liquidity remained strong at ₹44,062.00 crores, including cash and cash equivalents of ₹10,765.00 crores. Operating cash flows before capex were ₹10,345.00 crores for the quarter, reflecting strong operational execution and sustained cost discipline. The company invested ₹3,291.00 crores in capital expenditure during the quarter and ₹10,370.00 crores in 9MFY26.

Tata Steel has completed a major share acquisition, purchasing equity worth USD 625.75 million in TSHP. This substantial investment marks a significant corporate transaction for the steel manufacturing giant.

Investment Details

The share purchase represents a considerable financial commitment by the company, with the total investment value reaching USD 625.75 million. The acquisition involves shares in TSHP, though specific details about the percentage stake acquired or the strategic rationale behind the investment have not been disclosed.

Strategic Implications

This acquisition demonstrates Tata Steel's active approach to corporate investments and potential expansion strategies. The significant monetary value of the transaction indicates the strategic importance of this investment for the company's future operations and market positioning.

The completion of this share purchase adds to Tata Steel's portfolio of corporate investments, potentially strengthening its operational capabilities or market reach through its stake in TSHP.