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Tata Steel Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹161.86Overvalued by 13.90%vs CMP ₹188.00

P/E (20.7) × ROE (11.7%) × BV (₹81.80) × DY (2.13%)

₹123.55Overvalued by 34.28%vs CMP ₹188.00
MoS: -52.2% (Negative)Confidence: 62/100 (Moderate)Models: 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹119.8930%Over (-36.2%)
Graham NumberEarnings₹116.1522%Over (-38.2%)
Net Asset ValueAssets₹81.9810%Over (-56.4%)
EV/EBITDAEnterprise₹155.1612%Over (-17.5%)
Earnings YieldEarnings₹73.3010%Over (-61%)
ROCE CapitalReturns₹165.0810%Over (-12.2%)
Revenue MultipleRevenue₹175.357%Fair (-6.7%)
Consensus (7 models)₹123.55100%Overvalued
Key Drivers: EPS CAGR -25.9% drags value — could be higher if earnings stabilize.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -25.9%

*Investments are subject to market risks

Analyst Summary

Tata Steel Ltd operates in the Steel segment, NSE: TATASTEEL | BSE: 500470, current market price is ₹188.00, market cap is 2,34,304 Cr.. At a glance, stock P/E is 20.7, ROE is 11.7 %, ROCE is 12.5 %, book value is 81.8, dividend yield is 2.13 %. The latest intrinsic value estimate is ₹123.55, around 34.3% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹218,543 Cr versus the prior period change of -4.6%, while latest net profit is about ₹3,174 Cr with a prior-period change of 164.6%. The 52-week range shown on this page is 224/153, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisTata Steel Ltd. is a Public Limited Listed company incorporated on 26/08/1907 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L27100…

This summary is generated from the stock page data available for Tata Steel Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

53
Tata Steel Ltd scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health49/100 · Moderate
ROCE 12.5% GoodROE 11.7% AverageD/E 1.10 High debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 2.50% MF buyingPromoter holding at 33.2% Stable
Earnings Quality40/100 · Moderate
OPM contracting (20% → 11%) Declining
Quarterly Momentum80/100 · Strong
Revenue (4Q): 0% YoY FlatProfit (4Q): +143% YoY StrongOPM: 15.0% (up 4.0% YoY) Margin expansion
Industry Rank40/100 · Moderate
P/E 20.7 vs industry 21.6 In-lineROCE 12.5% vs industry 11.3% Average3Y sales CAGR: -4% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: July 2, 2026, 8:57 pm

Market Cap 2,34,304 Cr.
Current Price 188
Intrinsic Value₹123.55
High / Low 224/153
Stock P/E20.7
Book Value 81.8
Dividend Yield2.13 %
ROCE12.5 %
ROE11.7 %
Face Value 1.00
PEG Ratio-0.80

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Tata Steel Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Tata Steel Ltd 2,34,304 Cr. 188 224/15320.7 81.82.13 %12.5 %11.7 % 1.00
JSW Steel Ltd 2,99,312 Cr. 1,224 1,328/1,01732.9 4090.58 %10.9 %10.1 % 1.00
Steel Authority of India Ltd 69,533 Cr. 168 210/11818.1 1460.95 %7.79 %6.43 % 10.0
Shyam Metalics & Energy Ltd 26,875 Cr. 962 1,014/74625.1 4130.47 %13.0 %9.70 % 10.0
Technocraft Industries (India) Ltd 5,734 Cr. 2,517 3,392/1,86820.1 8920.79 %16.1 %15.0 % 10.0
Industry Average49,477.54 Cr339.0721.55170.650.40%11.31%11.30%7.50

All Competitor Stocks of Tata Steel Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 59,87857,08462,96259,49055,68255,31258,68754,77153,90553,64856,21853,17858,689
Expenses 53,81753,03655,74254,58751,41449,04852,08748,07747,78947,74549,65945,75149,793
Operating Profit 6,0604,0487,2194,9034,2686,2646,6016,6946,1165,9036,5597,4288,897
OPM % 10%7%11%8%8%11%11%12%11%11%12%14%15%
Other Income 4124912771,190-6,568-33-382-6617142149236-6
Interest 1,5191,7681,7941,8251,9591,8811,8421,7771,9711,8041,7891,8521,775
Depreciation 2,3482,3682,3822,4122,4802,4222,5682,5352,5972,5692,7202,7442,893
Profit before tax 2,6054033,3211,855-6,7391,9281,8092,3772,1641,6722,2003,0674,222
Tax % 50%721%53%72%-3%73%69%61%65%82%45%35%25%
Net Profit 1,297-2,5021,566525-6,5115225559197592951,2012,0073,183
EPS in Rs 1.24-1.821.400.52-5.070.420.490.770.670.261.041.662.48

Last Updated: January 12, 2026, 9:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 1, 2026, 1:30 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 148,614139,504101,965112,299123,249157,669139,817156,477243,959243,353229,171218,543225,088
Expenses 132,430136,095102,59099,156101,816128,351122,354125,973180,469211,053206,923193,244194,005
Operating Profit 16,1843,409-62513,14421,43329,31817,46330,50463,49032,30022,24825,29831,083
OPM % 11%2%-1%12%17%19%12%19%26%13%10%12%14%
Other Income 7165,99410,346-3,78910,8981,524-2,8841801,3001,569-6,005877845
Interest 4,3374,8484,2215,0725,4557,6607,5337,6075,4626,2997,5087,3417,163
Depreciation 5,8415,9445,3065,6735,7427,3428,4419,2349,1019,3359,88210,42111,406
Profit before tax 6,722-1,388193-1,39121,13515,841-1,39513,84450,22718,235-1,1478,41313,358
Tax % 45%185%358%200%16%42%-184%41%17%56%328%62%
Net Profit 3,665-3,939-497-4,16917,7439,1221,1748,19041,7498,075-4,9103,1749,122
EPS in Rs 3.19-3.48-0.34-3.7611.939.071.386.2632.887.17-3.552.747.33
Dividend Payout % 27%-20%-203%-23%9%15%74%40%16%50%-101%131%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-207.48%87.38%-738.83%525.59%-48.59%-87.13%597.61%409.76%-80.66%-160.80%164.64%
Change in YoY Net Profit Growth (%)0.00%294.86%-826.22%1264.43%-574.18%-38.54%684.75%-187.86%-490.41%-80.15%325.45%

Tata Steel Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:9%
3 Years:-4%
TTM:-3%
Compounded Profit Growth
10 Years:11%
5 Years:77%
3 Years:-55%
TTM:180%
Stock Price CAGR
10 Years:23%
5 Years:32%
3 Years:15%
1 Year:10%
Return on Equity
10 Years:11%
5 Years:14%
3 Years:6%
Last Year:4%

Last Updated: September 5, 2025, 4:10 am

Balance Sheet

Last Updated: June 26, 2026, 1:38 pm

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 9719709701,1451,1451,1451,1981,2211,2211,2471,2471,247
Reserves 30,37842,76236,84959,72667,78072,43173,041113,222101,86190,78889,922100,920
Borrowings 80,70181,98783,01492,147100,816116,32888,50175,56184,89387,08294,80192,382
Other Liabilities 47,05951,16551,61455,70463,03259,24581,16992,41797,42190,19589,488101,965
Total Liabilities 159,109176,884172,447208,722232,773249,149243,909282,422285,396269,312275,459296,515
Fixed Assets 68,10072,20092,00796,105124,442134,551135,775133,288146,621148,814150,914179,908
CWIP 28,67835,99615,78416,61418,64119,49719,00722,04631,21334,35641,62228,497
Investments 3,45510,71412,45717,8995,7386,28510,68213,1408,4106,2586,1947,089
Other Assets 58,87657,97452,20078,10383,95288,81678,445113,94899,15179,88576,72881,021
Total Assets 159,109176,884172,447208,722232,773249,149243,909282,422285,396269,312275,459296,515

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 11,88011,45510,8248,02325,33620,16944,32744,38121,68320,30123,13835,064
Cash from Investing Activity + -9,021-8,794-9,490-11,730-29,176-14,012-9,437-10,905-18,179-14,253-13,611-14,397
Cash from Financing Activity + -2,617-4,729-2,5796,640-673-1,695-37,090-23,401-6,981-11,097-7,002-21,387
Net Cash Flow 241-2,068-1,2452,933-4,5134,462-2,20010,075-3,477-5,0492,524-720
Free Cash Flow -1691,5233,39772416,71210,15637,79334,4287,8682,5698,73121,906
CFO/OP 420%-2,078%96%51%104%128%148%89%84%115%103%115%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow16.00-77.00-706.00-70.00-71.00-71.00-99.00-58.00-12.00-52.00-65.00-69.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 39354338372721221812109
Inventory Days 156165180230224190197213213175176171
Days Payable 133126167172161130136166161122108113
Cash Conversion Cycle 627456969987826971667867
Working Capital Days -43-6-47-32-31-18-38-55-34-42-59-50
ROCE %10%1%1%6%12%14%6%12%31%13%7%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 33.90%33.90%33.90%33.70%33.19%33.19%33.19%33.19%33.19%33.19%33.19%33.19%
FIIs 20.62%20.28%20.31%20.01%19.61%19.68%19.25%18.53%18.29%17.22%17.29%17.49%
DIIs 20.68%20.96%22.20%23.15%23.51%23.33%22.67%23.52%24.48%26.07%26.92%26.98%
Government 0.16%0.16%0.16%0.16%0.16%0.18%0.18%0.18%0.18%0.18%0.18%0.18%
Public 24.63%24.70%23.43%22.99%23.52%23.60%24.69%24.55%23.84%23.31%22.42%22.14%
No. of Shareholders 36,44,09036,92,75038,04,72839,92,60947,17,44252,69,35459,87,13961,59,77960,25,70958,23,94255,05,58153,59,971

Shareholding Pattern Chart

No. of Shareholders

Tata Steel Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Flexi Cap Fund 80,000,000 1.59 1545.04N/AN/AN/A
SBI Contra Fund 74,067,300 2.94 1430.4633,345,5252025-12-08 06:51:33122.12%
SBI ELSS Tax Saver Fund 62,000,000 3.76 1197.41N/AN/AN/A
SBI Balanced Advantage Fund 56,910,230 2.73 1099.1145,456,7302025-12-08 06:40:0425.2%
SBI Large Cap Fund 47,000,000 1.66 907.7155,800,0002026-01-26 02:18:52-15.77%
HDFC Balanced Advantage Fund 37,885,014 0.68 731.6738,000,5142026-02-23 04:29:18-0.3%
SBI Flexicap Fund 36,400,000 3.04 702.99N/AN/AN/A
HDFC Focused Fund 32,000,000 2.35 618.02N/AN/AN/A
Nippon India Large Cap Fund 31,003,160 1.19 598.76N/AN/AN/A
Mirae Asset Large & Midcap Fund 29,200,954 1.33 563.9635,790,8902025-12-08 05:14:22-18.41%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.0010.0010.00
Basic EPS (Rs.) 2.74-3.627.17332.3563.78
Diluted EPS (Rs.) 2.74-3.627.17332.0963.78
Cash EPS (Rs.) 10.754.0313.91411.08142.75
Book Value[Excl.RevalReserv]/Share (Rs.) 73.0974.1086.12958.87640.69
Book Value[Incl.RevalReserv]/Share (Rs.) 73.0974.1086.12958.87640.69
Revenue From Operations / Share (Rs.) 175.19183.71199.271997.681306.58
PBDIT / Share (Rs.) 21.5219.3327.30526.32262.19
PBIT / Share (Rs.) 13.1611.4119.65451.80185.09
PBT / Share (Rs.) 6.59-0.8714.59405.97112.86
Net Profit / Share (Rs.) 2.39-3.896.27336.5565.65
NP After MI And SOA / Share (Rs.) 2.74-3.567.17328.8062.54
PBDIT Margin (%) 12.2810.5213.6926.3420.06
PBIT Margin (%) 7.516.219.8622.6114.16
PBT Margin (%) 3.76-0.477.3220.328.63
Net Profit Margin (%) 1.36-2.113.1416.845.02
NP After MI And SOA Margin (%) 1.56-1.933.5916.454.78
Return on Networth / Equity (%) 3.75-4.828.4935.0810.19
Return on Capital Employeed (%) 8.498.1312.5828.3112.69
Return On Assets (%) 1.22-1.623.0414.063.05
Long Term Debt / Equity (X) 0.750.560.490.390.89
Total Debt / Equity (X) 0.970.880.750.601.10
Asset Turnover Ratio (%) 0.790.810.840.910.63
Current Ratio (X) 0.790.710.891.020.84
Quick Ratio (X) 0.270.210.330.480.38
Inventory Turnover Ratio (X) 4.661.591.971.851.41
Dividend Payout Ratio (NP) (%) 131.26-99.3771.087.4815.28
Dividend Payout Ratio (CP) (%) 32.4380.9934.416.096.84
Earning Retention Ratio (%) -31.26199.3728.9292.5284.72
Cash Earning Retention Ratio (%) 67.5719.0165.5993.9193.16
Interest Coverage Ratio (X) 3.663.215.2911.774.13
Interest Coverage Ratio (Post Tax) (X) 1.521.392.208.552.17
Enterprise Value (Cr.) 269917.60267769.08194373.13215203.42175394.42
EV / Net Operating Revenue (X) 1.241.170.790.881.12
EV / EBITDA (X) 10.0611.105.833.355.59
MarketCap / Net Operating Revenue (X) 0.880.840.520.650.62
Retention Ratios (%) -31.26199.3728.9192.5184.71
Price / BV (X) 2.112.111.241.391.32
Price / Net Operating Revenue (X) 0.880.840.520.650.62
EarningsYield 0.01-0.020.060.250.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Tata Steel Ltd. is a Public Limited Listed company incorporated on 26/08/1907 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L27100MH1907PLC000260 and registration number is 000260. Currently Company is involved in the business activities of Metal and metal products. Company's Total Operating Revenue is Rs. 139720.22 Cr. and Equity Capital is Rs. 1248.60 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
SteelBombay House, 24, Homi Mody Street, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mr. N ChandrasekaranChairman & Non-Exe.Director
Mr. Noel Naval TataNon Executive Vice Chairman
Mr. T V NarendranManaging Director & CEO
Mr. Koushik ChatterjeeExecutive Director & CFO
Mr. Saurabh AgrawalNon Executive Director
Dr. Shekhar C MandeIndependent Director
Mr. V K SharmaIndependent Director
Ms. Bharti Gupta RamolaIndependent Director
Mr. Pramod AgrawalIndependent Director
Mr. Deepak KapoorIndependent Director

FAQ

What is the intrinsic value of Tata Steel Ltd and is it undervalued?

As of 10 July 2026, Tata Steel Ltd's intrinsic value is ₹123.55, which is 34.28% lower than the current market price of ₹188.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (11.7 %), book value (₹81.8), dividend yield (2.13 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Tata Steel Ltd?

Tata Steel Ltd is trading at ₹188.00 as of 10 July 2026, with a FY2026-2027 high of ₹224 and low of ₹153. The stock is currently in the middle of its 52-week range. Market cap stands at ₹2,34,304 Cr..

How does Tata Steel Ltd's P/E ratio compare to its industry?

Tata Steel Ltd has a P/E ratio of 20.7, which is below the industry average of 21.55. This is broadly in line with or below the industry average.

Is Tata Steel Ltd financially healthy?

Key indicators for Tata Steel Ltd: ROCE of 12.5 % is moderate. Dividend yield is 2.13 %.

Is Tata Steel Ltd profitable and how is the profit trend?

Tata Steel Ltd reported a net profit of ₹3,174 Cr in Mar 2025 on revenue of ₹218,543 Cr. Compared to ₹41,749 Cr in Mar 2022, the net profit shows a declining trend.

Does Tata Steel Ltd pay dividends?

Tata Steel Ltd has a dividend yield of 2.13 % at the current price of ₹188.00. This is a relatively attractive yield for income-seeking investors.

Last Updated: July 2, 2026, 8:57 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500470 | NSE: TATASTEEL
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Tata Steel Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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