Tata Steel Q2 EBITDA Rises 17% to Rs 10,665 Crore
The steelmaker's consolidated revenue for the September 2026 quarter was Rs 65,436 crore.
Key Takeaways
- Consolidated EBITDA was Rs 10,665 crore, up 17% year on year.
- Consolidated revenue was Rs 65,436 crore, up 11.5% year on year.
- India EBITDA was Rs 10,634 crore at a margin of about 25%.
- Net debt stood at Rs 91,423 crore, or 2.4 times EBITDA.
- Half-year EBITDA was Rs 20,035 crore, up 21% year on year.
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Tata Steel reported consolidated revenue of Rs 65,436 crore and consolidated EBITDA of Rs 10,665 crore for the quarter ended September 30, 2026, the second quarter of FY27. EBITDA was up 17% from a year earlier and 14% from the previous quarter.
The company's India business reported revenue of Rs 42,653 crore and EBITDA of Rs 10,634 crore. For the half year ended September 30, 2026, consolidated EBITDA was Rs 20,035 crore, up 21% year on year.
Tata Steel Q2 FY27 at a glance
| Detail | Tata Steel |
|---|---|
| Quarter | July to September 2026 (Q2 FY27) |
| Consolidated revenue | Rs 65,436 crore |
| Consolidated EBITDA | Rs 10,665 crore |
| EBITDA margin | About 16% |
| Half-year consolidated revenue | Rs 1,26,231 crore |
| Half-year consolidated EBITDA | Rs 20,035 crore |
| Net debt | Rs 91,423 crore |
| Capital expenditure in the quarter | Rs 3,280 crore |
How Tata Steel's India business contributed
In India, EBITDA of Rs 10,634 crore came at a margin of about 25%. Crude steel production in India was 6.18 million tonnes, up 7% from the previous quarter, and domestic deliveries were 5.98 million tonnes, up 16% from the previous quarter.
How Tata Steel's EBITDA compares with earlier quarters
| Quarter | Consolidated EBITDA |
|---|---|
| Q2 FY26 (September 2025 quarter) | Rs 9,106 crore |
| Q1 FY27 (June 2026 quarter) | Rs 9,370 crore |
| Q2 FY27 (September 2026 quarter) | Rs 10,665 crore |
Consolidated revenue in the same quarter a year earlier was Rs 58,689 crore, so this quarter's Rs 65,436 crore is up 11.5%.
Net debt and capital spending at Tata Steel
Tata Steel's net debt stood at Rs 91,423 crore, which is 2.4 times EBITDA. Group liquidity was Rs 40,076 crore. Capital expenditure was Rs 3,280 crore in the quarter and Rs 6,860 crore in the half year.
Tata Steel's expansion projects listed with the results
The company's results statement lists a 4.8 million tonnes per year capacity expansion at Neelachal Ispat Nigam Limited, a new pickling and galvanising line and a tinplate capacity expansion among its projects.
Where Tata Steel stands after the September quarter
Tata Steel has now reported consolidated EBITDA of Rs 20,035 crore for the first half of FY27, with Rs 9,370 crore coming in the June quarter and Rs 10,665 crore in the September quarter. Its India business accounted for Rs 10,634 crore of the latest quarter's EBITDA. The company's net debt was 2.4 times EBITDA at the end of September 2026.
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Frequently Asked Questions
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