Overview
- Tata Steel, which reported at its 119th AGM on Thursday, announced a plan to grow crude steel capacity from about 27.4 MTPA to over 40 MTPA driven by brownfield and greenfield projects and expanded downstream lines.
- The company reported stronger FY26 results with consolidated revenue of ₹2,32,140 crore, profit after tax of ₹10,886 crore, a reduction in consolidated net debt to ₹80,144 crore, and a Board recommendation of a ₹4 per-share dividend.
- Tata Steel said its FY26 cost-transformation programme delivered approximately ₹10,868 crore in savings and set a new FY27 target of ₹7,140 crore to fund margins and capital allocation.
- Europe plans include starting a £1.25 billion Electric Arc Furnace project at Port Talbot with UK government support while Tata Steel is engaging Dutch authorities after tighter environmental rules created operational challenges there.
- The company is scaling digital and AI work—reporting more than $1 billion in platform sales and deploying hundreds of AI models—approved the amalgamation of NINL, and expects these moves to boost value-added products, jobs in India and lower-carbon steel output in Europe.