Tata Steel Ltd (TATASTEEL) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+2.40%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 18.9%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 11.7%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹182.66

200-Day DMA ● Overlay

₹169.41

14-Day RSI ● Overlay

60.4 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹2.21 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

18.7x

Price / EPS

Book Value (₹) Assets

₹81.8

P/B: 2.2x

ROE (%) Quality

11.7%

Net Profit / Equity

ROCE (%) Efficiency

12.5%

EBIT / Capital

Dividend Yield Yield

2.25%

Face Value: ₹10

Debt / Equity Solvency

0.90x

Manageable

EPS (TTM) Per Share

₹9.53

Trailing 12M

OPM (%) Spread

15.0%

EBITDA Margin

Free Cash Flow Cash

₹21,906 Cr

CFO - Capex

About Tata Steel Ltd

Tata Steel is one of the world top steel producing companies with global operations and annual crude steel capacity exceeding 35 MnTPA.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 10.8% × Turnover: 0.85x × Leverage: 1.9x = ROE: 11.7%

✓ Company Strengths (Pros)

• Maintains a generous dividend yield payout of 2.25%.
• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Company has a high debt-to-equity ratio of 0.90x.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹2.40 Lakh Cr

Latest PAT

₹11,264 Cr

EPS (TTM)

₹9.53

OPM %

15.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹59,490 Cr	₹55,682 Cr	₹55,312 Cr	₹58,687 Cr	₹54,771 Cr	₹53,905 Cr	₹53,648 Cr	₹56,218 Cr	₹53,178 Cr	₹58,689 Cr	₹57,002 Cr	₹63,270 Cr	₹60,794 Cr
Operating Profit (EBITDA)	₹4,903 Cr	₹4,268 Cr	₹6,264 Cr	₹6,601 Cr	₹6,694 Cr	₹6,116 Cr	₹5,903 Cr	₹6,559 Cr	₹7,428 Cr	₹8,897 Cr	₹8,200 Cr	₹9,829 Cr	₹9,264 Cr
OPM %	8.0%	8.0%	11.0%	11.0%	12.0%	11.0%	11.0%	12.0%	14.0%	15.0%	14.0%	16.0%	15.0%
Interest Expense	₹1,825 Cr	₹1,959 Cr	₹1,881 Cr	₹1,842 Cr	₹1,777 Cr	₹1,971 Cr	₹1,804 Cr	₹1,789 Cr	₹1,852 Cr	₹1,775 Cr	₹1,747 Cr	₹1,792 Cr	₹1,771 Cr
Depreciation	₹2,412 Cr	₹2,480 Cr	₹2,422 Cr	₹2,568 Cr	₹2,535 Cr	₹2,597 Cr	₹2,569 Cr	₹2,720 Cr	₹2,744 Cr	₹2,893 Cr	₹3,049 Cr	₹3,268 Cr	₹3,640 Cr
Profit before Tax (PBT)	₹1,855 Cr	-₹6,739 Cr	₹1,928 Cr	₹1,809 Cr	₹2,377 Cr	₹2,164 Cr	₹1,672 Cr	₹2,200 Cr	₹3,067 Cr	₹4,222 Cr	₹3,869 Cr	₹4,810 Cr	₹3,838 Cr
Net Profit (PAT)	₹525.00 Cr	-₹6,511 Cr	₹522.00 Cr	₹555.00 Cr	₹919.00 Cr	₹759.00 Cr	₹295.00 Cr	₹1,201 Cr	₹2,007 Cr	₹3,183 Cr	₹2,730 Cr	₹2,965 Cr	₹2,385 Cr
EPS in ₹	₹0.52	₹-5.07	₹0.42	₹0.49	₹0.77	₹0.67	₹0.26	₹1.04	₹1.66	₹2.48	₹2.15	₹2.34	₹1.86

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹1.40 Lakh Cr	₹1.02 Lakh Cr	₹1.12 Lakh Cr	₹1.23 Lakh Cr	₹1.58 Lakh Cr	₹1.40 Lakh Cr	₹1.56 Lakh Cr	₹2.44 Lakh Cr	₹2.43 Lakh Cr	₹2.29 Lakh Cr	₹2.19 Lakh Cr	₹2.32 Lakh Cr	₹2.40 Lakh Cr
Expenses	₹1.36 Lakh Cr	₹1.03 Lakh Cr	₹99,156 Cr	₹1.02 Lakh Cr	₹1.28 Lakh Cr	₹1.22 Lakh Cr	₹1.26 Lakh Cr	₹1.80 Lakh Cr	₹2.11 Lakh Cr	₹2.07 Lakh Cr	₹1.93 Lakh Cr	₹1.98 Lakh Cr	₹2.04 Lakh Cr
Operating Profit	₹3,409 Cr	-₹625.00 Cr	₹13,144 Cr	₹21,433 Cr	₹29,318 Cr	₹17,463 Cr	₹30,504 Cr	₹63,490 Cr	₹32,300 Cr	₹22,248 Cr	₹25,298 Cr	₹34,352 Cr	₹36,189 Cr
OPM %	2.4%	-0.6%	12%	17%	19%	12%	19%	26%	13%	10%	12%	15%	15%
Interest	₹4,848 Cr	₹4,221 Cr	₹5,072 Cr	₹5,455 Cr	₹7,660 Cr	₹7,533 Cr	₹7,607 Cr	₹5,462 Cr	₹6,299 Cr	₹7,508 Cr	₹7,341 Cr	₹7,167 Cr	₹7,085 Cr
Depreciation	₹5,944 Cr	₹5,306 Cr	₹5,673 Cr	₹5,742 Cr	₹7,342 Cr	₹8,441 Cr	₹9,234 Cr	₹9,101 Cr	₹9,335 Cr	₹9,882 Cr	₹10,421 Cr	₹11,955 Cr	₹12,850 Cr
Profit before Tax	-₹1,388 Cr	₹193.00 Cr	-₹1,391 Cr	₹21,135 Cr	₹15,841 Cr	-₹1,395 Cr	₹13,844 Cr	₹50,227 Cr	₹18,235 Cr	-₹1,147 Cr	₹8,413 Cr	₹15,969 Cr	₹16,739 Cr
Net Profit	-₹3,939 Cr	-₹497.00 Cr	-₹4,169 Cr	₹17,743 Cr	₹9,122 Cr	₹1,174 Cr	₹8,190 Cr	₹41,749 Cr	₹8,075 Cr	-₹4,910 Cr	₹3,174 Cr	₹10,886 Cr	₹11,264 Cr
EPS in Rs	-3.48	-0.34	-3.76	11.93	9.07	1.38	6.26	32.88	7.17	-3.55	2.74	8.65	8.83

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹971.00 Cr	₹970.00 Cr	₹970.00 Cr	₹1,145 Cr	₹1,145 Cr	₹1,145 Cr	₹1,198 Cr	₹1,221 Cr	₹1,221 Cr	₹1,247 Cr	₹1,247 Cr	₹1,247 Cr
Reserves & Surplus	₹30,378 Cr	₹42,762 Cr	₹36,849 Cr	₹59,726 Cr	₹67,780 Cr	₹72,431 Cr	₹73,041 Cr	₹1.13 Lakh Cr	₹1.02 Lakh Cr	₹90,788 Cr	₹89,922 Cr	₹1.01 Lakh Cr
Borrowings (Debt)	₹80,701 Cr	₹81,987 Cr	₹83,014 Cr	₹92,147 Cr	₹1.01 Lakh Cr	₹1.16 Lakh Cr	₹88,501 Cr	₹75,561 Cr	₹84,893 Cr	₹87,082 Cr	₹94,801 Cr	₹92,382 Cr
Total Liabilities	₹1.59 Lakh Cr	₹1.77 Lakh Cr	₹1.72 Lakh Cr	₹2.09 Lakh Cr	₹2.33 Lakh Cr	₹2.49 Lakh Cr	₹2.44 Lakh Cr	₹2.82 Lakh Cr	₹2.85 Lakh Cr	₹2.69 Lakh Cr	₹2.75 Lakh Cr	₹2.97 Lakh Cr
Fixed Assets	₹68,100 Cr	₹72,200 Cr	₹92,007 Cr	₹96,105 Cr	₹1.24 Lakh Cr	₹1.35 Lakh Cr	₹1.36 Lakh Cr	₹1.33 Lakh Cr	₹1.47 Lakh Cr	₹1.49 Lakh Cr	₹1.51 Lakh Cr	₹1.80 Lakh Cr
Total Assets	₹1.59 Lakh Cr	₹1.77 Lakh Cr	₹1.72 Lakh Cr	₹2.09 Lakh Cr	₹2.33 Lakh Cr	₹2.49 Lakh Cr	₹2.44 Lakh Cr	₹2.82 Lakh Cr	₹2.85 Lakh Cr	₹2.69 Lakh Cr	₹2.75 Lakh Cr	₹2.97 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹11,880 Cr	₹11,455 Cr	₹10,824 Cr	₹8,023 Cr	₹25,336 Cr	₹20,169 Cr	₹44,327 Cr	₹44,381 Cr	₹21,683 Cr	₹20,301 Cr	₹23,138 Cr	₹35,064 Cr
Cash from Investing (CFI)	-₹9,021 Cr	-₹8,794 Cr	-₹9,490 Cr	-₹11,730 Cr	-₹29,176 Cr	-₹14,012 Cr	-₹9,437 Cr	-₹10,905 Cr	-₹18,179 Cr	-₹14,253 Cr	-₹13,611 Cr	-₹14,397 Cr
Cash from Financing (CFF)	-₹2,617 Cr	-₹4,729 Cr	-₹2,579 Cr	₹6,640 Cr	-₹673.00 Cr	-₹1,695 Cr	-₹37,090 Cr	-₹23,401 Cr	-₹6,981 Cr	-₹11,097 Cr	-₹7,002 Cr	-₹21,387 Cr
Free Cash Flow (FCF)	-₹169.00 Cr	₹1,523 Cr	₹3,397 Cr	₹724.00 Cr	₹16,712 Cr	₹10,156 Cr	₹37,793 Cr	₹34,428 Cr	₹7,868 Cr	₹2,569 Cr	₹8,731 Cr	₹21,906 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	35	43	38	37	27	21	22	18	12	10	9	8
Inventory Days	165	180	230	224	190	197	215	213	175	176	171	184
Cash Conversion Cycle (Days)	74	56	96	99	87	82	69	71	66	78	67	56
ROCE %	1%	1%	6%	12%	14%	6%	12%	31%	13%	7%	9%	13%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹145.55 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹189.28

DCF Fair Value

₹145.55

Graham Number

₹132.44

Margin of Safety

-26.2%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹145.55

Premium / Overvalued (Margin: -26.2%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹142	₹140	₹139	₹138
10%	₹144	₹143	₹142	₹140
12%	₹147	₹146	₹144	₹143
14%	₹150	₹148	₹147	₹146

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹146	Fairly Valued
Benjamin Graham Number	₹132	Market Priced
Historical Sector P/E	₹210	Discounted
EV / EBITDA Multiplier	₹199	In-Line
Free Cash Flow Yield Model	₹185	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 5/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

5 / 9 Pass

Altman Z-Score

2.97 (Grey Zone (Moderate Solvency))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 0.90x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 15.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

32.94%

FIIs (Foreign)

18.90%

DIIs (Domestic)

26.44%

Government

0.15%

Public / Retail

21.52%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	33.90%	33.70%	33.19%	33.19%	33.19%	33.19%	33.19%	33.19%	33.19%	33.19%	33.19%	32.94%
+ FIIs (Foreign Portfolio)	20.31%	20.01%	19.61%	19.68%	19.25%	18.53%	18.29%	17.22%	17.29%	17.49%	18.58%	18.90%
+ DIIs (Mutual Funds / Insurance)	22.20%	23.15%	23.51%	23.33%	22.67%	23.52%	24.48%	26.07%	26.92%	26.98%	26.67%	26.44%
+ Public (Retail & HNIs)	23.43%	22.99%	23.52%	23.60%	24.69%	24.55%	23.84%	23.31%	22.42%	22.14%	21.36%	21.52%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Metals & Mining.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

TATASTEEL Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

TATASTEEL Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

TATASTEEL Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹242.28

Accelerated market share capture in Metals & Mining, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹211.99

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 19x P/E.

🐻 Bear Case (15%) -12.0%

₹166.57

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Metals & Mining)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 19:19 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Tata Steel Ltd (TATASTEEL)	Target Stock	₹189.28	+2.40%	18.7x	11.7%	12.5%	0.90	₹2.21 Lakh Cr
JSW Steel Ltd (JSWSTEEL)	Integrated Steel Producer	₹1,353.30	+0.47%	25.0x	10.2%	11.0%	0.99	₹3.02 Lakh Cr
Coal India Ltd (COALINDIA)	Coal Mining & Power Coal	₹406.30	+1.20%	8.3x	28.2%	35.0%	0.12	₹2.59 Lakh Cr
HINDUSTAN ZINC Ltd (HINDZINC)	Metals & Mining Operations	₹579.00	+0.53%	13.8x	76.6%	69.5%	0.39	₹2.35 Lakh Cr
Hindalco Industries Ltd (HINDALCO)	Aluminium & Copper Fabrication	₹962.30	+0.24%	10.2x	13.0%	13.2%	0.73	₹2.12 Lakh Cr
Vedanta Ltd (VEDL)	Diversified Natural Resources & Metals	₹263.88	+0.72%	9.0x	38.2%	16.1%	0.66	₹98,561 Cr
NMDC Ltd (NMDC)	Iron Ore Mining & Mineral Extraction	₹71.70	+0.28%	8.8x	23.4%	27.6%	0.19	₹65,622 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	19:19:12 IST	✓ Live Sync
Financial Statements (10Y)	Tata Steel Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Tata Steel Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Tata Steel Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Metals & Mining)

Metric Explainer

Stock DNA Methodology

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