T

Tata Steel Limited

TATASTEELNSE
Market snapshot · 2026-08-10 20:05 UTC

190.24

+₹2.69 (+1.43%)

MARKET CAP

₹2.37L Cr

STOCK P/E

21.5x

52W HIGH

₹224.40

52W LOW

₹153.05

BOOK VALUE

₹81.84

EPS

₹8.83

ROE

SECTOR

Materials

DEBT/EQUITY

89.02

VOLUME

3.33Cr

P/B RATIO

2.32x

PEG RATIO

1.86

Sector

Materials

Themes

Iron & SteelTata GroupTata Sons Portfolio
D
Dividend
E
Earnings
₹212.46₹197.19₹181.91₹166.64₹151.36VolumeEEEDEAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

Tata Steel is an integrated steel manufacturer and distributor serving India and international markets. Revenue spans construction products, automotive and engineering steels, and coated, rolled, and alloy steel products. Its India performance in Q1 FY2027 supported growth, while improved margins and a 6.2% revenue increase indicate better operating conditions. Profit rose 215.6%, and improving margins suggest operating leverage, though reported ROE is unavailable. Debt-to-equity of 89.02 implies substantial leverage, which can amplify returns but increases financial risk. At 21.2 times earnings, valuation appears fair relative to the sector, but the outlook depends on sustaining India-led growth and managing balance-sheet pressure.

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for TATASTEEL.

35.00 analysts

Price Forecast

Current
₹190.24
High Target
₹260.00
▲ +36.7%
Median Target
₹220.00
▲ +15.6%
Low Target
₹175.00
▼ -8.0%
Now₹190.24High ₹260.00Median ₹220.00Low ₹175.00Aug '25Now12M Target
Price history (1Y)
Analyst target range
35 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹165.21 - ₹231.9080%
6M₹158.45 - ₹255.9580%
12M₹151.87 - ₹299.2480%
Realized vol: +26.5% · Drift: +14.9%

Revenue Forecast

₹ Cr
Dec '25Current₹35,578.0
Sep 2026 ETrend estimate range
High₹38,670.9Base₹35,806.4Low₹32,941.9
Mar '25: ₹34,399.0 · Jun '25: ₹31,014.0 · Sep '25: ₹34,680.0 · Dec '25: ₹35,578.0 · Sep '26: ₹35,806.4 · Dec '26: ₹36,733.6
Mar '25Jun '25Sep '25Dec '25Sep '26 EDec '26 E34,399.031,014.034,680.035,578.035,806.436,733.6
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Dec '25Current₹3.06
Sep 2026 ETrend estimate range
High₹3.84Base₹3.43Low₹3.02
Mar '25: ₹2.54 · Jun '25: ₹2.82 · Sep '25: ₹3.25 · Dec '25: ₹3.06 · Sep '26: ₹3.43 · Dec '26: ₹3.23
Mar '25Jun '25Sep '25Dec '25Sep '26 EDec '26 E2.542.823.253.063.433.23
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Neutral
60%
Analyst Consensus
Weakening

From 35 analysts

Mean upside+14.6%

Fundamentals

Strong

Fundamentals institutional score is 70 using growth durability 70.2.

Valuation

Fairly valued

Valuation institutional score is 51 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Neutral

Analyst View institutional score is 56 using mean target upside 14.6%; dispersion penalty 15.6; recommendation breadth from available consensus.

Technical Structure

Mixed Momentum

Technicals institutional score is 67 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 4 recent ticker-linked news items.

Signal Summary

Market intelligence remains Neutral. fundamentals and technical structure provide support, while valuation and market sentiment remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals StrongValuation Fairly valuedAnalyst Consensus NeutralTechnical Structure Mixed MomentumMarket Sentiment Neutral backdrop

Key Data Points

Mean Target Price218.1 target
Mean Upside+14.6%
Technical Score67%
Fundamental Score70%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 23.3% above historical median. Valuation is rising — currently in the strongly overvalued zone (z-score: +1.28). Confidence: 83%.

Live forward EPS implies next-12-month EPS of ₹17.90. Applying the stock's normalized valuation corridor produces a fair range of ₹269.57 to ₹344.04, with base value near ₹308.42 (+62.1% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Below normalized range

Forward EPS

₹17.90

Forward P/E

10.6x

Base Fair Value

₹308.42

Fair Range

₹269.57 - ₹344.04

Upside To Base

+62.1%

Estimate Source

Live forward EPS

Growth Estimate

+11.4%

P/E
Strongly Overvalued

5Y Average

15.23

Current

21.24

Overvalued

19.22

Undervalued

15.06

EV/EBITDA
Strongly Overvalued

5Y Average

6.68

Current

9.46

Overvalued

7.82

Undervalued

5.19

P/B
Fair

5Y Average

2.30

Current

2.32

Overvalued

2.64

Undervalued

1.95

Peers & Comparison

Sector: Materials · Theme: Iron & Steel

Iron & Steel Peers4 peers
Avg P/E: 41.5x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
JSW STEEL LIMITED
JSWSTEELIron & Steel
+9.8%13.1%
12.8x
Undervalued
-69% vs avg
+23.4%
+10.5%7.4%
18.6x
Undervalued
-55% vs avg
+8.3%
JINDAL STEEL LIMITED
JINDALSTELIron & Steel
+25.9%4.8%
42.2x
Fair
+2% vs avg
+11.3%
BHARAT FORGE LTD
BHARATFORGIron & Steel
+17.5%6.4%
92.4x
Premium
+123% vs avg
+94.3%
WHY THESE PEERS

TATA STEEL LIMITED trades at a discount (21.5x vs peer avg 41.5x), suggesting potential undervaluation relative to the Iron & Steel cohort. Peers include JSW STEEL LIMITED, JINDAL STAINLESS LIMITED, JINDAL STEEL LIMITED — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹35.58K CrDec 2025

Latest net profit

₹4.18K CrDec 2025

Latest EPS

₹3.06Dec 2025

Net margin

16.6%Dec 2025

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q3 '25Q4 '25Q1 '26Q2 '26Q3 '260.0%5.0%10.0%15.0%20.0%0.00 Cr9.00K Cr18.00K Cr27.00K Cr36.00K Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q3 '25Q4 '25Q1 '26Q2 '26Q3 '260.00 Cr9.00K Cr18.00K Cr27.00K Cr36.00K Cr₹0₹1₹2₹3₹3
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOperatingprofitOther incomeInterestProfitbefore taxTax & otherNet Profit0.00 Cr9.00K Cr18.00K Cr27.00K Cr36.00K Cr

Latest reported period: Dec 2025

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
202120222023202420250.00 Cr15.00K Cr30.00K Cr45.00K Cr60.00K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales38,04835,48734,19834,68636,54132,95832,39932,76034,39931,01434,68035,578
Expenses29,39328,79827,32926,39228,51326,18726,23726,82827,95224,00026,56027,847
Operating Profit7,1515,2065,3866,7746,5075,2474,6064,3774,8295,3886,4015,905
OPM %18.79%14.67%15.75%19.53%17.81%15.92%14.22%13.36%14.04%17.37%18.46%16.6%
Other Income8251,492827329484377853465569566610797
Interest1,0961,0201,1161,0389269251,1331,0801,1011,2711,2371,290
Depreciation1,5041,4841,4821,5191,5221,5241,5561,5561,6181,6271,7181,826
Profit before tax6,8815,6775,0976,0646,0654,6994,3263,7624,2984,6835,7745,412
Tax %24.26%8.15%12.3%22.64%22.75%24.14%27.62%34.45%26.15%26.56%23.26%22.8%
Net Profit5,2125,2144,4704,6914,6853,5653,1312,4663,1743,4394,4314,178
EPS in Rs3.344.18-6.823.763.282.672.883.112.542.823.253.06

All values in Rs. Crore unless otherwise stated. Source: CMIE Prowess, Quarterly Interim Standalone.

Shareholding Pattern

HolderMar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters33.19%33.19%33.19%33.19%33.19%
FII18.29%17.22%17.29%17.49%18.58%
DII24.66%26.25%27.10%27.16%26.85%
Government0.01%0.01%0.01%0.01%0.01%
Public20.05%19.60%18.69%18.44%17.73%
Others3.80%3.73%3.72%3.71%3.64%
Mar 2026
Promoters
FII
DII
Government
Public
Others

Events Timeline

Concall Transcript - FY2027

Jul 28, 2026PDFKnowledge Base Open

Concall Transcript - FY2027

Jun 22, 2026PDFKnowledge Base Open

Concall Transcript - FY2027

Jun 18, 2026PDFKnowledge Base Open

Concall Transcript - FY2027

Jun 18, 2026PDFKnowledge Base Open

Concall Transcript - FY2027

Jun 03, 2026PDFKnowledge Base Open