Motilal Oswal: Tata Steel Annual Report Analysis - Weak Operating Performance Amid Challenging Environment
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Motilal Oswal Report
Tata Steel Ltd.’s FY20 annual report analysis highlights its weak operating performance in a challenging environment, with standalone/consolidated Ebitda declining 27.7%/40.5% YoY to Rs 149 billion/Rs 175 billion.
This includes forex gains of Rs 7.1 billion (FY19 loss of Rs 7.9 billion), recognized as part of other expenses.
The decline was primarily led by Tata Steel Europe (TSE), wherein Ebitda turned negative 69 million British pound sterling (FY19 up 576 million British pound sterling).
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