Consolidated revenue from operations stood at Rs 49,977.4 crore, up 38.8 percent YoY.
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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Tata Steel share price touched a 52-week high of Rs 1,128.80, rising over 5 percent in early trade on May 6 a day after the company reported its Q4 numbers.
The company on May 5 posted a consolidated profit of Rs 6,644.1 crore for the quarter ended March 2021 compared to a loss of Rs 1,481.3 crore in the year-ago quarter.
Consolidated revenue from operations stood at Rs 49,977.4 crore, up 38.8 percent YoY.
Also Read – Tata Steel posts profit of Rs 6,644 crore for Q4; revenue, operating earnings beat estimates
Here is what brokerages have to say about the stock and company after the March earnings:
Morgan Stanley | Rating: Overweight | Target: Rs 1,000
Consolidated EBITDA was in line as India performed better than expectations but Europe missed estimates.
The cash flow was robust and the dividend payout is one of the highest in the last few years.
Investec | Rating: Buy | Target: Rs 1,175
The best is ahead as it’s a preferred ferrous proxy. The operational beat was across regions. The strong CF generation aids balance sheet deleveraging.
Macquarie | Rating: Outperform | Target: Rs 1,045
It was a solid quarter with a constructive outlook. The earnings outlook particularly for EU contract will be key to watch. While, domestic demand outlook, expansion capex & timelines will be the key.
CLSA | Rating: Buy | Target: Rs 1,150
The Q4 consolidated EBITDA was 11% above estimate, while debt reduction remained strong. Most businesses performed better than estimates. It reported the best-ever standalone profitability & Q1 likely to be even stronger.
Europe business was largely in line, while clarity is awaited on several issues. The deleveraging is on track with the focus now shifting to expansion projects.
Jefferies | Rating: Buy | Target: Rs 1,125
The Q4 adjusted EBITDA rose 68% QoQ & 18% above our estimate. The rising steel prices drove sequentially higher EBITDA across businesses.
The recurring net profit rose 95% QoQ & 31% above our estimate. It generated a free cash flow of Rs 8,800 crore in Q4 with net debt fell by Rs 90 per share.
JPMorgan | Rating: Overweight | Target: Rs 1,250
The company reported a massive beat in Q4 with consolidated EBITDA at Rs 14,180 crore versus the consensus of Rs 12,800 crore.
H1FY22 should be very strong and dividend of Rs 25 per share is an all-time high.
Motilal Oswal | Rating: Neutral
Tata Steel Europe posted an EBITDA of Rs 11.9 billion (versus estimated Rs 31.3 billion) as against a loss of Rs 7.2 billion in Q3 FY21. EBITDA/t stood at USD 66/t (versus estimated USD170/t).
The miss on EBITDA was led by a miss on realization as only one-fourth of the QoQ increase in EU steel prices was reflected in TSE. This was due to contracts fixed earlier at lower prices
At 09:54 hrs Tata Steel was quoting at Rs 1,120, up Rs 51.05, or 4.78 percent on the BSE.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
