Tata Steel cuts net debt to ₹80,144 crore and plans ₹20,000 crore capex expansion

Tata Steel reported a significant reduction in its consolidated net debt, bringing the figure down to ₹80,144 crore for FY2025‑26. The net‑debt‑to‑EBITDA ratio fell to 2.3× from 3.3× two years earlier, aided by a prepaid debt amount of ₹7,556 crore and a drop in overseas debt to 18% of total liabilities. The company generated ₹2,32,140 crore in revenue, EBITDA of ₹34,848 crore (up 35% YoY), operating cash flow of ₹35,064 crore and maintained liquidity of ₹45,237 crore.

For FY27 the steelmaker announced a capital‑expenditure programme of about ₹20,000 crore, 38% higher than the ₹14,559 crore spent in the previous fiscal year. The bulk of the investment will target Indian operations, including expansion of tinplate and wire capacity, a new HRPGL facility at Tarapur, and upgrades to coke ovens at Jamshedpur. The plan supports a longer‑term goal of raising consolidated steelmaking capacity to more than 50 MTPA, with a focus on new technologies and downstream value‑added projects. Phase II of the Kalinganagar expansion, a ₹27,000 crore venture, has already increased domestic capacity to 26.1 MTPA.