- Tata Steel's Q1 FY27 consolidated revenue was Rs 60,794 crores with EBITDA of Rs 9,370 crores, helped by India operations that accounted for about 75% of consolidated crude steel production.
- The India standalone business was the profit engine, with EBITDA of Rs 9,409 crores, EBITDA per ton of Rs 18,198, and deliveries up 9% year-over-year to 5.2 million tons.
- The expansion roadmap aims to scale capacity from 27.4 million tons per annum to approximately 40 MTPA and beyond, maintaining flexibility between flats and longs.
- Tata Steel highlighted India's structural demand: steel demand grew 1.8x over eight years to 164 million tons in FY2026, and per capita consumption of 100 kg remains below the global average of 215 kg.
- The board approved a 4.8 MTPA expansion at NINL with Rs 33,873 crores capex and a 48-month timeline from August 1, 2026, the first phase of a broader plan.
- Additional India growth projects include a 2.5 MTPA thin slab caster and rolling facility at Tata Steel Meramandali (TSM), a 0.75 MTPA Electric Arc Furnace (EAF) ramp-up, and plans for an iron ore hub and 5 MTPA steel plant in Maharashtra.
- Downstream expansion includes a 2.2 MTPA Cold Rolling Mill (CRM) complex at Kalinganagar, plus hikes in tinplate, tubes, and wires capacities.
- Sustainability remains central, with a Net Zero by 2045 target, improved CO₂ intensity, and a UK transition to scrap-based EAF steelmaking backed by £1.25 billion, including £500 million in UK government funding.
Tata Steel's Q1 FY27 results reflect robust growth, with consolidated revenue reaching Rs 60,794 crores and an EBITDA of Rs 9,370 crores, marking a 15.4% margin.12
The company's India operations emerged as a significant profit driver, contributing approximately 75% of total crude steel production. The standalone business in India reported an impressive EBITDA of Rs 9,409 crores, with an EBITDA per ton of Rs 18,198, up 19% from the previous quarter.
India’s steel demand has surged, growing 1.8 times over the past eight years to reach 164 million tons in FY2026, while per capita consumption remains low at 100 kg, compared to the global average of 215 kg, indicating significant growth potential.
Tata Steel's ambitious expansion plan includes increasing capacity from 27.4 MTPA to 40 MTPA and beyond, with a major 4.8 MTPA expansion at Neelachal Ispat Nigam Limited (NINL) approved, involving a capital outlay of Rs 33,873 crores.8
Additional projects include a 2.5 MTPA thin slab caster and rolling facility, a 0.75 MTPA Electric Arc Furnace ramp-up, and a new 5 MTPA steel plant in Maharashtra. Sustainability remains a core focus, with a target for Net Zero by 2045 and improved environmental metrics, including a reduction in CO₂ emission intensity from 2.4 tCO₂/tcs in FY23 to 1.7 in Q1 FY27.121314
In the UK, Tata Steel is transitioning to scrap-based EAF steelmaking with a 3 MTPA capacity facility, supported by £1.25 billion in funding, expected to reduce 50 million tons of CO₂e over a decade.
“India standalone EBITDA reached ₹9,409 crores with per-ton EBITDA of ₹18,198, while deliveries rose 9% year-over-year to 5.2 million tons. The board also approved a 4.8 MTPA NINL expansion with ₹33,873 crore capex, the first phase in a 48-month roadmap beginning August 1, 2026.”
