Tata Steel’s Q2FY25 Results
Tata Steel’s revenue decreased 3% YoY
- 08 Nov 2024
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- Tata Steel reported a 1% quarter-on-quarter (QoQ) decrease in its consolidated revenue for the quarter ended Sept (Q2FY25). On a year-on-year (YoY) basis, its revenue decreased by 3%.
- Its expenses for the quarter were down by 0.1% QoQ and 6% YoY.
- The net profit declined 17% QoQ.
- The earnings per share (EPS) of Tata Steel stood at 0.7 during Q2FY25.
Tata Steel’s Financial Statements for Q2FY25:
| (₹ crores) | Q2FY24 | Q1FY25 | Q2FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 55,910 | 55,031 | 54,503 | -1% | -3% |
Total expenses | 55,853 | 52,389 | 52,332 | -0.1% | -6% |
Profit before tax | -6,739 | 2,377 | 2,164 | -9% | - |
Tax | -228 | 1,458 | 1,405 | -4% | - |
Profit after tax | -6,511 | 919 | 759 | -17% | - |
Earnings per share | - | 0.8 | 0.7 |
Financials:
- Consolidated revenue for H1FY25 were ₹1,08,676 crores. EBITDA improved by 25% YoY to ₹13,046 crores with an EBITDA margin of 12%.
- Consolidated revenue for the July – Sep 2024 quarter were ₹53,905 crores and EBITDA was ₹6,224 crores with an EBITDA margin of around 12%.
- The company has spent ₹4,806 crores on capital expenditure during the quarter and ₹8,583 crores for the half year.
- Net debt stands at ₹88,817 crores. Our group liquidity remains strong at ₹26,028 crores, which includes cash & cash equivalents of ₹10,575 crores.
- India 2 revenues were ₹32,660 crores for the quarter and EBITDA was ₹6,912 crores, which translates to an EBITDA margin of 21%. Crude steel production was 5.28 million tons and was up 5% on YoY basis. Deliveries stood at 5.11 million tons and were up on YoY basis, driven by a 6% rise in domestic deliveries.
Management Commentary:
Mr. T V Narendran, Chief Executive Officer & Managing Director:
- The global market faced challenges with subdued growth and pressure from China's economic conditions.
- India saw improved steel demand but faced price pressure from imports.
- India deliveries reached 5.1 million tons for the quarter and 10.1 million tons for the half-year.
- Domestic deliveries increased by 6% for the quarter and 5% for the half-year YoY.
- The automotive sector experienced growth in high-end product deliveries.
- Tata Tiscon achieved its best-ever 2Q deliveries, up 20% YoY.
- A 5 MTPA blast furnace was successfully commissioned at Kalinganagar in September 2024.
Mr. Koushik Chatterjee, Executive Director and Chief Financial Officer:
- Tata Steel's half-year consolidated revenues were ₹1,08,676 crores, with EBITDA of ₹13,046 crores.
- EBITDA margin improved by approximately 300 bps to 12%, supported by higher India volumes and better profitability in the Netherlands.
- Quarterly consolidated revenue were ₹53,905 crores, with EBITDA of ₹6,224 crores and a 12% margin.
- India revenue for the quarter were ₹32,660 crores, with a 21% EBITDA margin translating to ₹6,912 crores.
- The second blast furnace at Kalinganagar is ramping up well, with more facilities to be commissioned later in the year.
- Equipment orders were placed for the 0.85 MTPA Electric Arc Furnace in Ludhiana.
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
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