03 May 2022
Corporate News

Tata Steel reports highest ever consolidated EBITDA at Rs 63,830 crores; Net debt to EBITDA improves to 0.8x

Tata Steel background

Highlights:

 

  • Highest ever consolidated EBITDA of Rs 63,830 crores with an EBITDA per ton of Rs 21,626. Profit after tax stood at Rs 41,749 crores
  • Consolidated Free Cash Flow was Rs. 27,185 crores despite an increase in working capital of Rs. 9,618 crores, capex of Rs. 10,522 crores and taxes of Rs. 11,902 crores 
  • Gross debt stood at Rs.75,561 crores with net repayments of Rs.15,232 crores. Net debt declined to Rs.51,049 crores. Net debt to EBITDA improved to 0.80x; Net debt to equity improved to 0.52x.
  • The 6 MTPA Pellet plant at Kalinganagar will be commissioned in 3QFY23 followed by the Cold Roll Mill complex and the 5 MTPA expansion.

  • India1: 
    • Achieved highest ever annual crude steel production of 19.06 million tons, with a growth of 13% YoY. Highest ever deliveries of 18.27 mn tons despite COVID 2nd wave related disruption early in financial year.
    • Broad based improvement in sales volume was witnessed across segments. Automotive was up 27% YoY, Branded Products and Retail was up 11% YoY while Industrial products & projects was up 11% YoY.
    • EBITDA stood at Rs.52,745 crores, translates to an EBITDA per ton of Rs 28,863
  • Europe operations: 
    • Revenues increased by 54% YoY to £8,876 million.
    • EBITDA stood at £1,199 million, translates to an EBITDA per ton of £133. 
  • The Board of Directors recommends a dividend of Rs. 51 per fully paid equity share and Rs 12.75 per partly paid equity shares. A 10:1 stock split is also recommended.

Financial Highlights:

Key profit & Loss account items (All figures in Rs. Crores unless specified)

India1,2,3

Consolidated2,3,4

4QFY22

3QFY22

4QFY21

FY22

FY21

4QFY22

3QFY22

4QFY21

FY22

FY21

Production (mn tons)5

4.90

4.81

4.75

19.06

16.92

7.62