Tata Steel's Q4 points to divergent cyclical trends in steel markets

So are analyst opinions with ratings ranging between 'hold to 'buy', and valuations between Rs 110 and Rs 132

Tata Steel

Steel consumption is up 13-14 per cent domestically

Devangshu Datta

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Divergent cyclical trends in steel markets were evident in the results for Tata Steel for the January-March quarter of the 2022-23 financial year (Q4FY23). The standalone results, which are India-focussed, display rise in margins and earnings before interest, tax, depreciation and amortisation (Ebitda), per tonne while the consolidated results, which include the European (and UK) trends, show decline in margins and operating losses.

At consolidated level, sales volume for Q4FY23 stood at 7.78 MT or million tonnes (down 3 per cent year-on-year or YoY but up 9 per cent quarter-on-quarter or QoQ). Averaged sales prices were down 6 per cent YoY and almost flat QoQ. Revenue was at Rs 63,000 crore (down 9 per cent YoY and up 10 per

First Published: May 03 2023 | 9:14 PM IST

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