Tata Steel Limited has informed the Exchange about Transcript
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Tata Steel hosted its 3QFY2026 earnings call, reporting consolidated 9M EBITDA of Rs. 24,894 crores (up 31% YoY) with margins expanding 300 basis points to 15%. India operations delivered a record quarter, with crude steel production rising 12% YoY to 6.34 million tons and quarterly deliveries crossing 6 million tons for the first time, supported by a 23% India EBITDA margin. The cost transformation program delivered Rs. 8,600 crores in savings across geographies in 9M. Net debt fell Rs. 5,200 crores QoQ to Rs. 81,834 crores, bringing leverage to 2.6x. The company completed the 50.01% acquisition of Thriveni Pellets and consolidated its color-coated business. Management guided 4Q FY2026 EBITDA to improve sequentially, with India realisations expected Rs. 2,300/t higher QoQ, despite coking coal costs rising about $15/t.
Positive for shareholders: management has explicitly guided 4Q margin and EBITDA improvement, supported by Indian safeguard duties, EU CBAM implementation, and revised quotas. The deleveraging path is on track (2.6x vs <3x target), and capex pipeline across NINL, Meramandali, Ludhiana, and Maharashtra signals confidence in long-term growth.