External broker reports(aggregated public sources), Axis Direct

Axis Direct

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External broker reports(aggregated public sources)

Tata Steel’s Europe Revival Story Is Back on the Table

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Strong Indian Operations: FY26 India EBITDA rose to Rs 33,036 Cr, up 17% YoY, with margins rising to 24% from 21% YoY, aided by record volumes.</li><li>Q4 EBITDA/t stood robust at Rs 15,245/t (4% ahead of our estimate, up 20%/16% YoY/QoQ), driven by higher NSRs and volume ramp-up at Kalinganagar Phase II (fully commissioned now).</li><li>Netherlands Uncertainty an Overhang: Netherlands EBITDA grew by 9% QoQ (+373% QoQ on the impacted base) to Rs 624 Cr, led by higher steel deliveries, partly offset by lower NSRs. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Strong Indian Operations: FY26 India EBITDA rose to Rs 33,036 Cr, up 17% YoY, with margins rising to 24% from 21% YoY, aided by record volumes.Q4 EBITDA/t stood robust at Rs 15,245/t (4% ahead of our estimate, up 20%/16% YoY/QoQ), driven by higher NSRs and volume ramp-up at Kalinganagar Phase II (fully commissioned now).Netherlands Uncertainty an Overhang: Netherlands EBITDA grew by 9% QoQ (+373% QoQ on the impacted base) to Rs 624 Cr, led by higher steel deliveries, partly offset by lower NSRs. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

타타 스틸(Tata Steel Ltd) - 견조한 4분기 실적, EBITDA는 시장 예상치 상회; 전망 긍정적