Tata Steel Q3FY22 Preview: Revenue seen at Rs59,498cr, PAT at Rs10,034cr

3 Feb 2022 , 05:39 PM

Result date: 4^th February, 2022
Recommendation: Buy
Target price: Rs1,697

(Source: IIFL Research)

Tata Steel is likely to post robust growth of 41.8% in its consolidated revenue on a YoY basis. Large part of this growth will be led by realizations and its Europe business as it reported a 3% YoY decline in consolidated sales to 6.88 MT during the quarter. Company reported ~2% YoY increase in consolidated steel output to 7.68 million tonnes (MT) for the quarter. In India, it produced 4.80 MT of steel versus 4.60 MT in the year ago quarter.

Consolidated EBITDA growth is pegged at 77.5% on a YoY basis, despite surge in coking coal costs.

Growth in consolidated PAT is estimated at a sharp 162.4% on a YoY basis.
 

Rs. Crore	December 2021 estimates	YoY change	QoQ change
Revenue	59,498	41.8%	(1.5%)
EBITDA	16,975	77.5%	3.2%
PAT	10,034	162.4%	(16.0%)

Source: Brokerage reports