About the Company:
Tata Steel, is an Indian Multinational Steel manufacturing company, Headquartered situated in Kolkata, West Bengal, India. It is a subsidiary of Tata Group. Formerly the company is known by Tata Iron and Steel Company Limited (TISCO).It operates in 26 countries with key operations in India, Netherlands and UK. Tata Steel acquired the UK- based steel maker Corus. It is one of the top steel producing company globally and second largest steel company in India after SAIL.
QoQ & YoY Performance:
Second largest Steel manufacturing company has declared the results for the second quarter of financial year ending September 2020.
- QoQ Performance: Consolidated Net sales/ revenue of the company recorded to Rs. 34579.18 crores, down by 3.81% in the September quarter of FY20. Total expenditure (excluding interest and depreciation expenses) are Rs.30759.62 crores, is up by 0.62%. EBITDA numbers declined by 28.87%.
- YoY Performance: The Company has reported a 15.45% decrease in sales/revenue while expenditure (excluding interest and depreciation expenses) of the company have dropped by 4.16%.
- Profitability of the company: Net profits of the company landed to Rs.4043.45 crores, increased by 481.63% QoQ and surged by 30.67% YoY.
As per Lokesh Sethia, SEBI Registered Research Analyst, the stock is trading at Rs.398.80 per share. The company has declared excillent PAT at 4043.45 surged by 481.63% QoQ or 30.67% YoY. So we recommend to take “BUY” positions in the stock.