Tata Steel flags Q2 India margin squeeze as it advances NINL expansion
Tata Steel expects India realisations to fall ₹1,500 per tonne sequentially in Q2, with EBITDA per tonne potentially declining ₹1,500–2,000 despite higher volumes. The company is also progressing a 48-month NINL expansion to build long-products capacity.
Tata Steel expects lower India Q2 realisations and per-tonne margins, cushioned by higher volumes. It targets EBITDA-positive European operations in Q2, UK break-even by year-end, and is advancing a 48-month NINL long-products expansion while consolidating key logistics and coatings subsidiaries.
Why this matters
Tata Steel’s Q2 margin warning follows its reported 12% Q1 profit rise and ₹33,873 crore NINL plan to add 4.8 MT of capacity. It also follows Tata Steel taking control of TM International Logistics to support the Neelachal expansion.
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