Tata Steel Limited has informed the Exchange about Change of Accounting Policy
TATASTEEL · price
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On the reaction day the stock moved 0.3 pts more than Nifty 100 and 2.4 pts less than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Tata Steel's Board approved audited Q4 and FY25 results. Standalone revenue from operations for FY25 stood at ₹1,32,516.66 crores (down ~6% from the restated FY24 figure of ₹1,40,932.65 crores), with net profit of ₹13,969.70 crores (vs restated ₹15,661.85 crores). Q4 FY25 standalone net profit was ₹3,169.19 crores. The Board also approved a change in accounting policy, reclassifying equity investments in subsidiaries from 'cost less impairment' to 'Fair Value through OCI' (FVTOCI) with retrospective effect, causing a large ₹24,982.93 crore negative OCI movement in Q4. A dividend of ₹3.60 per share (360%) was recommended for FY25, with record date June 6, 2025. Additionally, the Board approved a fund infusion of up to USD 2.5 billion (~₹21,410.95 crores) into wholly owned foreign subsidiary T Steel Holdings Pte. Ltd during FY26. Price Waterhouse issued an unmodified (clean) audit opinion with no qualifications or emphasis of matter.
The accounting policy change and large OCI swing are accounting-related and do not impact cash flow or operating performance, but the standalone revenue and profit decline warrant attention. The ₹3.60 dividend and the sizeable USD 2.5 billion fund infusion into the foreign subsidiary signal continued capital deployment, which may be viewed as a long-term bet on UK operations. Overall, no negative audit flags, but investors should watch the rationale for the massive subsidiary infusion.