Tata Steel Q4 Review - Outlook On Strong Footing, Top Pick In The
Ferrous Space: Prabhudas Lilladher
Silos stand at the steel works operated by Tata Steel Ltd. in U.K. (Photographer: Chris Ratcliffe/Bloomberg)

Tata Steel Q4 Review - Outlook On Strong Footing, Top Pick In The Ferrous Space: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Led by better than expected performance in domestic operations, Tata Steel Ltd. reported 6%/8% beat on our/consensus Ebitda estimates.

Consolidated Ebitda grew 48% QoQ at Rs 141.8 billion (our estimate: Rs 130.9 billion).

Profit after tax doubled QoQ to Rs 76.4 billion (our estimate: Rs 70.1 billion).

The beat was largely led by a strong show in standalone/Tata steel BSL Ltd.'s operations with Ebitda at Rs 91.9 billion/Rs 25.8 billion (our estimate: Rs 86.7 billion/Rs 22.7 billion), up 37% QoQ/58% QoQ.

However, Tata Steel Europe operations marginally fell short of expectation due to a reversal of gain of £47 million recognised on the monetisation of carbon credit receipts in Q1 FY21.

Click on the attachment to read the full report:

Prabhudas Lilladher Tata Steel Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.