Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 132562.34 Crore) operating in Metals – Ferrous sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 50249.58 Crore, up 26.23 % from last quarter Total Income of Rs 39809.05 Crore and up 43.22 % from last year same quarter Total Income of Rs 35085.86 Crore. Company reported net profit after tax of Rs 7011.50 Crore in latest quarter.
Investment Rationale
The brokerage arrives at TP of INR1,205/share, based on FY23E EV/EBITDA of 5x/4x for its India/Europe operations. Its TP implies EV/capacity of USD906/t, a 30% premium to its past five-year average of USD696/t, which prices in deleveraging from the upcycle.
Promoter/FII Holdings
Promoters held 34.4 per cent stake in the company as of March 31, 2021, while FIIs held 18.6 per cent, DIIs 25.4 per cent and public and others 21.6 per cent.
