TATA STEEL LTD. - 500470 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation under Regulation 39(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201506-11-2023
06-11-2023
TATA STEEL LTD. - 500470 - Announcement under Regulation 30 (LODR)-Updates on Acquisition
Acquisition of 26% equity stake in TP Vardhaman Surya Ltd.06-11-2023
Buy Tata Steel; target of Rs 138: Prabhudas Lilladher
Prabhudas Lilladher is bullish on Tata Steel has recommended buy rating on the stock with a target price of Rs 138 in its research report dated November 02, 2023.06-11-2023
TATA STEEL LTD. - 500470 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper Advertisement03-11-2023
TATA STEEL LTD. - 500470 - Announcement under Regulation 30 (LODR)-Scheme of Arrangement
Update in the matter of the Scheme of Amalgamation amongst Tata Steel Limited and Tata Steel Long Products Limited and their respective shareholders03-11-2023
Hot Stocks: Brokerages view on Tata Steel and Dabur India
US brokerage Citi downgraded Tata Steel and slashed the price target on concerns over Europe operations coupled with domestic steel prices.03-11-2023
TATA STEEL LTD. - 500470 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of Schedule of Analyst / Institutional Investor Meeting under the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 201502-11-2023
TATA STEEL LTD. - 500470 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Video recording of Tata Steel 2QFY2024 Earnings Discussion02-11-2023
Q2FY24 Quarterly & H1FY24 Bi-Annual Result Announced for Tata Steel Ltd.
Tata Steel announced Q2FY24 & H1FY24 results: Consolidated Revenues for H1FY24 stood at Rs 1,15,172 crore. EBITDA was Rs 10,437 crore and the EBITDA margin was 9%. Consolidated Revenues for Q2FY24 stood at Rs 55,682 crore. EBITDA was Rs 4,315 crore and the EBITDA margin was 8%. The company has spent Rs 4,553 crore on capital expenditure during Q2FY24 and Rs 8,642 crore for H1FY24. The 5 MTPA expansion at Kalinganagar and the 0.75 MTPA EAF project in Punjab are under implementation. Net debt stands at Rs 77,032 crore. Our group liquidity remains strong at Rs 27,637 crore. We are now rated Investment grade by Standard & Poor’s and Moody’s. India revenues were Rs 33,922 crore and EBITDA was Rs 6,841 crore Crude steel production was around 5 million tons and was broadly similar on a QoQ basis but up 5% on a YoY basis. Deliveries at 4.82 million tons were marginally higher QoQ driven by a rise in domestic deliveries. Broad-based improvement was witnessed across key end-use segments despite seasonal factors. EBITDA was Rs.6,841 crore which translates into an EBITDA margin of 20%. Europe revenues were £1,812 million and EBITDA loss stood at £242 million. Liquid steel production was 1.95 million tons and the QoQ improvement was primarily driven by better operating efficiency in the Netherlands. Deliveries stood at 1.81 million tons and were marginally lower due to subdued demand and the ongoing reline of one of the blast furnaces at Ijmuiden, which will be completed in Q3FY24. We have assessed the potential impact of the EAF-based decarbonisation project and restructuring in the UK. We have taken an impairment charge of Rs 12,560 crore in standalone financial statements and Rs 2,746 crore in consolidated financial statements. In addition, we have taken charge of restructuring & other provisions of Rs 3,612 crore in consolidated financial statements. Tata Steel is committed to reaching net zero by 2045 and is pursuing decarbonisation of its operations in a phased manner calibrated to the regulatory framework and support from the government and customers in each country. T V Narendran, Chief Executive Officer & Managing Director, “Tata Steel India delivered steady performance, with crude steel production of around 5 million tons. Domestic deliveries were up 6% YoY, despite renewed volatility and seasonal factors during the quarter. Among the key segments, Auto and Branded Products & Retail had the best 2Q sales. We have started producing FHCR coils at the Kalinganagar CRM complex and have started receiving approvals from automotive OEMs for our cold-rolled steel. Our retail sales to home builders continue to grow aided by our strong distribution network. Tata Steel Aashiyana, the e-commerce platform, services more than 10,000 unique customers per month. Moving to Sustainability, we remain committed to Net Zero by 2045 and have calibrated the decarbonisation of steelmaking as per the operating geography. In the UK, we plan to invest in a state-of-the-art scrap-based EAF with government support and this will enable a reduction of 50 million tons of direct carbon emissions over a decade. In the Netherlands, we will shortly be submitting the detailed decarbonisation proposal to the Dutch government seeking regulatory and financial support. In India, we are committed to responsible growth and are undertaking multiple initiatives ranging from scrap charging in blast furnaces to greening the power mix. We are agreeing to secure 379 MW of renewable power for our India operations. I am happy to share that Tata Steel has received Safety and Health Excellence recognition for 2023 by Worldsteel.” Koushik Chatterjee, Executive Director and Chief Financial Officer, “Tata Steel Consolidated revenues for the quarter stood at Rs 55,682 crore and consolidated EBITDA stood at Rs 4,315 crore, which translates to an EBITDA margin of 8%. India's business generated a higher margin of around 20% and EBITDA stood at Rs 6,841 crore. In Europe, margins moderated especially in the UK business while the Netherlands business was broadly stable on a QoQ basis. Revenue per ton was lower in both geographies. However, improved costs in the Netherlands led to broadly similar margins. Cash flow from operations before interest stood at Rs 4,658 crore driven by favourable working capital movement. Our capital expenditure was Rs 4,553 crore during the quarter and Rs 8,642 crore for H1FY24. This is broadly in line with our annual guidance of ~Rs 16,000 crore for FY2024 and we continue to prioritize the completion of the 5 MTPA Kalinganagar expansion. Our Net debt stands at Rs 77,032 crore and the group liquidity position remains strong at Rs 27,637 crore. During the quarter, Moody’s upgraded our credit rating to investment grade. Given our plans to change the processed route for steelmaking, the existing heavy-end assets at TSUK will only be used for a defined period. Accordingly, we have taken an impairment charge of Rs 12,560 crore in the standalone financial statements. We have also taken charge of Rs 6,358 crore in consolidated financial statements about the UK business. We continue to remain focused on cost optimisation, operational improvements, and working capital management to maximise cashflows.” Result PDF02-11-2023
