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 third quarter of financial year ending December 2020.
- QoQ Performance: Consolidated Net sales/ revenue of the company recorded to Rs. 35520.41 crores, up by 2.72% in the December quarter of FY20. Total expenditure (excluding interest and depreciation expenses) are Rs.31900.67 crores, is up by 3.71%. EBITDA numbers declined by 7.26%.
- YoY Performance: The Company has reported 8.58% decrease in sales/revenue while expenditure (excluding interest and depreciation expenses) of the company have dropped by 0.74%.
- Profitability of the company: Net loss of the company landed to Rs. 1165.78 crores, decreased by 128.83% QoQ and down by 164.17% YoY.
As per Lokesh Sethia, SEBI Registered Research Analyst, the stock is trading at Rs.470.95 per share. The revenue of the company for the third quarter is landed at 35520.41 surged by 2.72%. So we recommend to take “BUY” positions in the stock.
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