Tata Steel reports Consolidated EBITDA of Rs 23,402crores for FY2024

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Mumbai : Tata Steel today reported its financial results for the fourth quarter and year ended March 31, 2024. The company’s consolidated revenues for the quarter stood at Rs 58,687 crores, reflecting a 6% increase from the previous quarter. This growth was driven by improved volumes across various geographies. EBITDA for the quarter was Rs 6,631 crores, with an EBITDA margin of approximately 11%.

For the full fiscal year 2024, Tata Steel reported consolidated revenues of Rs 2, 29,171 crores. The company’s EBITDA for the year was Rs 23,402 crores, primarily bolstered by enhanced performance in its India operations.

Capital expenditure for the quarter was Rs 4,850 crores, contributing to a total of Rs 18,207 crores for the full year. The phased commissioning of the 5 MTPA expansion at Kalinganagar is progressing.

Tata Steel’s net debt stands at Rs 77,550 crores. The group’s liquidity remains robust at Rs 31,767 crores, which includes cash and cash equivalents of Rs 9,532 crores.

Tata Steel India achieved its highest-ever crude steel production of approximately 20.8 million tons and deliveries of around 19.9 million tons in FY2024. Annual India deliveries increased by 9% year-on-year, leveraging India’s steel demand growth and an agile business model. In the fourth quarter of FY2024, India deliveries rose by 5% year-on-year to 5.42 million tons, with revenues at Rs 36,864 crores and an EBITDA of Rs 8,261 crores, resulting in an EBITDA margin of around 22%.

Following seven months of formal and informal national-level discussions with the UK trade unions, Tata Steel will commence the closure of heavy-end assets in June and proceed with its plan to invest in a state-of-the-art Electric Arc Furnace at Port Talbot.

Additionally, Tata Steel’s Board of Directors has recommended a dividend of Rs 3.60 per fully paid-up equity share of face value of Rs 1 each.

Management Comments:

Mr. T V Narendran, Chief Executive Officer & Managing Director:


Statements in this press release describing the Company’s performance may be “forward-looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred, or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.

For queries and information

Sarvesh Kumar,Chief Corporate Communications, Tata Steel, sarvesh.kumar@tatasteel.com

About Tata Steel

  • Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.
  • It is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world.
  • The group recorded a consolidated turnover of around US$27.7 billion in the financial year ending March 31, 2024.
  • A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
  • Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045.
  • The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar, and IJmuiden Plants.
  • Tata Steel aspires to have a 20% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
  • The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked among the top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
  • Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteelTM Certification. Subsequently, its Kalinganagar and Meramandali plants have also received the certification. In India, Tata Steel now has more than 90% of its steel production from ResponsibleSteelTM certified sites.
  • Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2024 Steel Sustainability Champion recognition from worldsteel for seven years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet’s India’s top 500 companies 2022, Ranked as the 2023 most valuable Mining and Metals brand in India by Brand Finance, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, and ‘Best Corporate for Promotion of Sports’ recognition at the Sportstar Aces Awards 2024.
  • Received the 2023 ERM (Enterprise Risk Management) Award of Distinction at the RIMS ERM Conference 2023, ‘Masters of Risk’ – Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.

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