Tata Steel share was trading flat ahead of the firm’s Q1 earnings set to be announced today. Tata Steel stock has gained 4% in the last 2 days and is trading 3.72% away from its 52-week high of Rs 1,481.25 hit on July 29, 2021.
At 10:00 am, the share was trading 0.13% higher at Rs 1,428 on BSE.
The share hit 52 week low of Rs 343 on September 24, 2020.
Tata Steel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large cap share has gained 243% in one year and risen 121% since the beginnning of this year.
Market cap of the firm fell to Rs 1.71 lakh crore on BSE.
Total 1.16 lakh shares changed hands amounting to turnover of Rs 16.65 crore.
Prabhudas Lilladher expects an adjusted profit at Rs 9,063.70 crore. Sales are seen rising over 100% to Rs 51,818 crore
“Tata Steel Europe (TSE) is expected to report Ebitda per tonne of $120, up 81 per cent QoQ due to improvement in spreads. Owing to better performance in domestic and overseas operations, we expect consolidated Ebitda to grow by 10 per cent QoQ to Rs 15,560 crore,” the brokerage said.
ICICIdirect sees Tata Steel logging a healthy performance in Q1, led by firm steel prices.
“We expect European operations to report an Ebitda per tonne of $100/tonne. For Q1FY22, on a consolidated basis, the topline is expected to increase 113 per cent YoY, to Rs 51,636 crore. Consolidated Ebitda for Q1FY22 is expected at Rs 16,186 crore. Consolidated Ebitda margins are likely to come in at 31.3 (28.4 per cent in Q4FY21),” the brokerage said, suggesting a profit of Rs 9,136 crore.
In fourth quarter of last fiscal, Tata Steel reported a net profit of Rs 6,593.5 crore against a net loss of Rs 436.8 crore in the year-ago period.
The company’s board also announced a final dividend of ?25 per share for the financial year ended March 2021.
It clocked highest ever quarterly earnings before interest, tax depreciation and amortisation (EBITDA) of Rs 12,295 crore with 40% QoQ and 2.7x YoY growth in 4QFY21. This translates into an EBITDA per tonne of Rs.26,309 and an EBITDA margin of 40.9%. FY21 EBITDA was Rs 28,587 crore.
