Tata Steel Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	2,250,879	2,185,425	2,291,708	2,433,527	2,439,592	1,564,774
Revenue Growth (YoY)	1.84%	-4.64%	-5.83%	-0.25%	55.91%	5.04%
Cost of Revenue	1,015,222	1,043,722	1,127,812	1,232,217	902,775	623,744
Gross Profit	1,235,657	1,141,703	1,163,896	1,201,310	1,536,817	941,030
Selling, General & Admin	253,239	248,890	245,096	253,428	259,364	221,573
Other Operating Expenses	675,784	644,024	696,118	641,383	629,226	432,177
Operating Expenses	1,043,083	997,127	1,040,036	988,163	979,598	746,087
Operating Income	192,574	144,576	123,860	213,148	557,219	194,943
Interest Expense	-71,634	-73,410	-75,076	-62,987	-54,622	-76,067
Interest & Investment Income	8,660	8,660	5,223	3,853	2,791	3,225
Earnings From Equity Investments	3,112	1,908	-579.8	4,181	6,492	3,273
Currency Exchange Gain (Loss)	4,195	4,195	420.3	16,578	-13,316	18,952
Other Non Operating Income (Expenses)	2,798	2,060	834.5	4,004	2,088	1,979
EBT Excluding Unusual Items	139,704	87,989	54,682	178,777	500,652	146,304
Merger & Restructuring Charges	-13,310	-6,340	-43,926	-936.4	-5,871	-3,561
Impairment of Goodwill	-	-	-	-	-	-1,172
Gain (Loss) on Sale of Investments	11,679	2,523	2,850	4,769	1,517	2,477
Gain (Loss) on Sale of Assets	2,193	2,879	10,126	-435.7	8,510	1,638
Asset Writedown	-3,616	-1,192	-35,203	177.5	-2,540	-7,251
Other Unusual Items	-3,070	-1,731	-	-	-	-
Pretax Income	133,580	84,129	-11,470	182,351	502,269	138,437
Income Tax Expense	42,363	52,391	37,626	101,598	84,776	56,539
Earnings From Continuing Operations	91,217	31,738	-49,096	80,754	417,493	81,898
Net Income to Company	91,217	31,738	-49,096	80,754	417,493	81,898
Minority Interest in Earnings	472.4	2,467	4,722	6,851	-15,954	-6,996
Net Income	91,689	34,205	-44,374	87,604	401,539	74,902
Preferred Dividends & Other Adjustments	-	-	-	-	10.9	1,814
Net Income to Common	91,689	34,205	-44,374	87,604	401,528	73,089
Net Income Growth	235.71%	-	-	-78.18%	436.09%	381.21%
Shares Outstanding (Basic)	12,472	12,472	12,268	12,210	12,081	11,459
Shares Outstanding (Diluted)	12,476	12,475	12,271	12,214	12,091	11,460
Shares Change (YoY)	0.17%	1.66%	0.47%	1.02%	5.50%	0.10%
EPS (Basic)	7.35	2.74	-3.62	7.17	33.24	6.38
EPS (Diluted)	7.35	2.74	-3.62	7.17	33.21	6.38
EPS Growth	235.65%	-	-	-78.41%	420.70%	437.90%
Free Cash Flow	-	78,413	20,941	75,406	338,588	373,481
Free Cash Flow Per Share	-	6.29	1.71	6.17	28.00	32.59
Dividend Per Share	-	3.600	3.600	3.600	5.100	2.500
Dividend Growth	-	-	-	-29.41%	104.00%	150.00%
Gross Margin	54.90%	52.24%	50.79%	49.36%	63.00%	60.14%
Operating Margin	8.55%	6.62%	5.41%	8.76%	22.84%	12.46%
Profit Margin	4.07%	1.57%	-1.94%	3.60%	16.46%	4.67%
Free Cash Flow Margin	-	3.59%	0.91%	3.10%	13.88%	23.87%
EBITDA	292,183	239,647	212,880	296,495	637,202	275,129
EBITDA Margin	12.98%	10.97%	9.29%	12.18%	26.12%	17.58%
D&A For EBITDA	99,609	95,071	89,020	83,347	79,982	80,185
EBIT	192,574	144,576	123,860	213,148	557,219	194,943
EBIT Margin	8.55%	6.62%	5.41%	8.76%	22.84%	12.46%
Effective Tax Rate	31.71%	62.28%	-	55.72%	16.88%	40.84%
Revenue as Reported	2,267,022	2,200,830	2,309,796	2,443,902	2,447,441	1,573,730

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.