- 07 Feb 2022
- ICICIdirect Research
TATA STEEL REPORTS CONSOLIDATED TOPLINE, EBITDA AND PAT CAME IN LINE WITH OUR ESTIMATES
TATASTEEL - 148 Change: -3.38 (-2.24 %)News: Tata Steel’s consolidated topline for the quarter was at Rs.60783 crore (up 45% YoY and 1% QoQ), broadly in line with our estimate of Rs.59280 crore. Consolidated EBITDA for the quarter stood at Rs.15894 crore (up 66% YoY but down 3% QoQ), in line with our estimate of Rs.15956 crore. Consolidated EBITDA margin for Q3FY22 was at 26.1%, compared to 22.8% in Q3FY21 and 27.3% in Q2FY22. Also, ensuing consolidated PAT for the quarter was at Rs. 9598 crore, up 139% YoY but down 24% QoQ in line with our estimate of Rs.9676 crore
Views: Tata Steel reported a steady set of numbers for Q3FY22, wherein consolidated topline, EBITDA and PAT came in line with our estimates. Standalone operations EBITDA/tonne stood at Rs.28631/tonne, which came in higher than our estimate of Rs.27500/tonne. Tata Steel European operations EBITDA/tonne stood at US$182/tonne, marginally lower than our estimate of US$200/tonne. Furthemore during the quarter, net debt declined from Rs.68860 crore at the end of Q2FY22 to Rs.62869 crore at the end of Q3FY22.
Impact: Neutral