
Result date: 6th February, 2023
Recommendation: Add
Target price: Rs 131
Source: IIFL Research
Tata Steel could post decline in revenue both over the year-ago quarter as well as sequentially. This weakness will be on the back of lower HRC prices in India as well as Europe. The company posted weak volume as well as realizations during the quarter.
EBITDA of domestic business could increase sequentially reflecting lower coking coal costs, though partly offset by elevated energy costs in Europe.
Profit After Tax (PAT) could decline 80% over the year-ago quarter.
Important management insights to watch out for:
Rs Crore | December 2022 estimates | YoY change | QoQ change |
Sales | 56,856 | (6.5)% | (5.1)% |
EBITDA | 5,044 | (66.4)% | 5.0% |
PAT | 1,526 | (80)% | 28.0% |
Source: Brokerage reports
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