One dream

TOWARDS A GREENER FUTURE

119th Year

Integrated Report and
Annual Accounts 2025-26

Our Founder

In a free enterprise, the community is not just another stakeholder in business, but is in fact the very purpose of its existence.
Jamsetji Nusserwanji Tata March 3, 1839 - May 19, 1904

Vision

We aspire to be the global steel industry benchmark for Value Creation and Corporate Citizenship

Mission

We will be the most profitable and sustainable steel company in India through excellence in project execution, innovation, customer centricity and giving back to society

We will lead as a green and circular steel company and be amongst the top 3 most profitable European steel companies, driven by innovation, customer centricity, commitment to be the employer of choice, and active engagement with our communities.

We will build a profitable and sustainable UK steel company that strengthens industrial supply chains, creates value and supports communities through our people collaborating with partners to deliver differentiated, resource-efficient steel for a low-carbon future.

We will lead by developing and delivering reinforcement steel solutions, and build stakeholder relationships with trust, care, and shared progress.

Values

  • Integrity
  • Responsibility
  • Excellence
  • Pioneering
  • Unity

One dream TOWARDS A GREENER FUTURE

Tata Steel operates across India, Europe, Southeast Asia, and North America, making us one of the most geographically diversified steel companies in the world. United by a shared vision of a sustainable and greener tomorrow, our team of over 77,000 employees across geographies comes together as ‘One Tata Steel’, a truly global metals and mining company driven by purpose, scale, and responsibility.

The world today stands at a crossroads of unprecedented geopolitical uncertainty and technology-led opportunity. In these dynamic times, success requires more than operational efficiency. It calls for agility and resilience while upholding commitment to sustainability, safety, ethics, and people practices that define who we are.

‘One Tata Steel’ represents a fundamental shift in how we think, act, and collaborate.

It unites our businesses and functions across locations into a unified, integrated enterprise driven by a common purpose, guided by consistent standards, and connected by a shared culture code. We work smarter together, unleashing strengths from every corner of our organisation. This enables our teams to innovate with confidence, respond effectively to change, and play a meaningful role in shaping a more sustainable and responsible future.

Tata Steel EAF plant

Igniting

Sustainable Steelmaking

March 20, 2026 marked a historic moment for Tata Steel as the Company inaugurated its 100% scrap-based Electric Arc Furnace (EAF) plant in Ludhiana, Punjab in India.

Read more
Tata Steel plant

Illuminating

Manufacturing’s Future

Not once, but three times, Tata Steel has been recognised as a global beacon of manufacturing excellence! In 2019, two of our crown jewels simultaneously earned the prestigious World Economic Forum Lighthouse status — the technologically advanced IJmuiden plant in the Netherlands and the dynamic Kalinganagar plant in India, both celebrated for their groundbreaking integration of Artificial Intelligence, Big Data, and Machine Learning.

Read more
Tata Steel community

Connecting

Communities Through Movement

Beyond steel, Tata Steel fuels health and forges communities worldwide through an incredible portfolio of running events.

Read more
Green steelmaking

Revolutionising

Green Steelmaking

Tata Steel is boldly rewriting the future of sustainable steelmaking, with the revolutionary HIsarna technology leading the charge.

Read more
Young talent at Tata Steel

Magnetising

Young Talent

What started as a powerful initiative in the UK and the Netherlands has now grown into a truly global movement and Tata Steel's Magnet programme is making waves! Designed exclusively for young professionals up to 35 years of age, Magnet is a vibrant platform that blends professional development, cross-functional networking, and personal growth into one dynamic experience.

Read more
Sustainable production

Advancing

Sustainable Production

Tata Steel Thailand, with its three Electric Arc Furnace (EAF)-based plants, has led the way in green steel manufacturing. Now, Tata Steel is actively advancing its green steel journey across other geographies, marking a significant transition from traditional carbon-intensive steelmaking. In Ludhiana, Punjab (India), the Company has inaugurated its 100% scrap-based EAF plant.

Read more

Highlights of the Year

A year that defines tomorrow

Production

0 MT

0%
Deliveries

0 MT

0%
Turnover

0 crore

0%
EBITDA

0 crore

0%
Reported PAT

0 crore

0%
Know more

*Includes Tata Steel Limited and Neelachal Ispat Nigam Limited

Chairman’s Message

One ambition for a stronger tomorrow

For the FY2025-26, your Company delivered a consistent and robust financial performance with all-round improvement across all areas. The performance this year is a testament to the structural strength of our domestic operations and actions taken in our European portfolio."

Read the full statement
N Chandrasekaran, Chairman
N ChandrasekaranChairman
Management team
Koushik Chatterjee Executive Director & Chief Financial Officer
T V Narendran Chief Executive Officer & Managing Director

Management Speak

Building a future together

Our long-term growth strategy remains anchored in expanding capacity, enhancing product mix, improving cost competitiveness, and building a more sustainable, technologically advanced manufacturing base to lead the Indian market.

Read the full statement

Corporate Portrait

Anchored in India and present globally, Tata Steel is building a more sustainable, future-ready steel ecosystem.

36 MTPA

Consolidated steelmaking capacity

77,000+

Employees across the globe

Know more

The United Kingdom

3.2 MTPA

Port Talbot (Upcoming EAF)

The Netherlands

7 MTPA

IJmuiden

Thailand

1.7 MTPA

Saraburi, Rayong and Chonburi (EAF)

Canada

Iron ore assets in Labrador and Northern Quebec 2.8 MT

India

11 MTPA

Jamshedpur

9 MTPA

Kalinganagar (Including NINL)

5.6 MTPA

Meramandali

0.75 MTPA

Ludhiana (EAF)

1 MTPA

Gamharia

*Yet to be operational.

Raw material assets

Steel Business

Coal 6.5 MT

Jharia
West Bokaro

Iron ore 43.5 MT

Noamundi
Katamati
Joda East
Khondbond
Vijay II
Mithirda Kriyakudar Basada
Kalamang
Gandhalpada*

Ferroalloy Business

Chromite 0.4 MT

Saruabil
Kamarda

Manganese 0.3 MT

Tiringpahar
Bamebari
Joda West

Disclaimer: The map is for illustrative purposes only.

Production in FY2025-26

Business Model

Financial Capital

Net worth (₹ crore)98,768
Net debt (₹ crore)80,144

Human Capital

Employees on roll (nos.)77,000+
Training hours per employee (nos.)76
Employee training (thousand person-days)529+

Manufactured Capital

Installed crude steel capacity (MTPA)36

Social and Relationship Capital

Total dealers and distributors (nos.)27,000+
Active supplier base (nos.)14,000+
CSR spend* (nos.)473

Intellectual Capital

Collaborations/memberships with technical institutes (nos.)170+
Patents filed (nos.)160+

Natural Capital

Energy intensity^ (GJ/tcs)22.16
Specific freshwater consumption^ (m3/tcs)2.30
Capital spends on ESG matters (₹ crore)6,300+

^ Metrics consolidated for steelmaking entities across the Tata Steel Group
* Metrics applicable to Tata Steel Limited

1

Mining

53.47 MT

Materials mined

2

Processing raw material

3

Iron making

4

Steelmaking

31.67 MT

Production

5

Rolling product

20.48 MT

Enriched/value-added product sales

6

Downstream processing

60

Steel processing centres

7

Customers

31.97 MT

Deliveries

Enabling functions

Supply chain

33+ MT

Finished goods handled

100+ MT

Raw material handled

Human resources

937 tcs/employee/year

Employee productivity

Technology

₹1,456 crore

R&D spend

By-products

₹9,100+ crore

Revenue from by-product sales

Digitalisation

360+

Digital projects undertaken

The Steelmaking Process

Blast Furnace Steelmaking
Electric Arc Furnace Steelmaking

^ Metrics consolidated for steelmaking entities across the Tata Steel Group

31.67 MT

Production

20.48 MT

Enriched/value-added product sales

31.97 MT

Deliveries

Financial Capital

Turnover (₹ crore)2,32,140
EBITDA (₹ crore)34,848
Savings through cost transformation programme
(₹ crore)
10,868

Social and Relationship Capital

Suppliers assessed on safety (nos.)2,200+
Business associates trained on TCoC (nos.)5,100+
Supply chain partners assessed on RSCP (nos.)3,444
Lives impacted through CSR initiatives* (million)6.9+

Manufactured Capital

Production (MT)31.67

Natural Capital

CO₂ emission intensity^ (tCO₂/tcs)2.22
Stack dust emission intensity^ (kg/tcs)0.30
Solid waste utilisation (including legacy stock)^ (%)100
Effluent discharge intensity^ (m³/tcs)10.36
SOx emission intensity^ (kg/tcs)1.89
NOx emission intensity^ (kg/tcs)0.97
Total sites covered under Biodiversity Management Plans^ (nos.)29

Human Capital

Women in managerial roles (%)10
Diversity mix (%)18
LTI^ (nos.)222
LTIFR^ (Index) 0.48
Workforce (permanent non-managerial)
under formal trade unions^ (%)
84

Intellectual Capital

Patents granted (nos.)200+
New products developed (nos.)120+

^ Metrics consolidated for steelmaking entities across the Tata Steel Group
* Metrics applicable to Tata Steel Limited

Strategic Roadmap

Translating vision into
strategic action

Know More
Strategic Objectives
Tata Steel India
Tata Steel India

Tata Steel India

  • Attain and retain leadership position in chosen segments
  • Profitable growth in India
  • Consolidate position as global cost leader
  • Industry leadership in ESG
Tata Steel Nederland
Tata Steel Nederland

Tata Steel Nederland

  • Be among the top 3 most profitable European steel companies through focus on green and high-value markets
  • Transition successfully to green and circular steelmaking
  • Build resilience and flexibility in operations and supply chains (including sourcing new energy and raw materials)
  • Drive performance, transform the organisation and earn stakeholder trust to make the Company ready for the future
Tata Steel UK
Tata Steel UK

Tata Steel UK

  • Ensure a safe and healthy workforce, minimise our environmental footprint, and accelerate a sustainable transformation for future generations
  • Profitability through the cycle
  • Transition to EAF operations through efficient and reliable project delivery
Tata Steel Thailand
Tata Steel Thailand

Tata Steel Thailand

  • Industry leadership in chosen segments
  • Healthy financial position
  • Operational efficiency and plant reliability
  • Industry leader in Safety, Environment, CSR, and Corporate Governance
Strategic Enablers
Customer Centricity Technology Leadership Digital and AI Employer of Choice Financial Prudence

ESG Goals

Towards a sustainable future

Tata Steel's ESG goals shape a responsible and resilient future, accelerating progress in decarbonisation, clean energy, safety, inclusivity, and ethical governance across the organisation.

Environment
Social
Governance

Contribution to UN SDGs

One shared future

Tata Steel integrates the UN SDGs into its business strategy, aligning operations, innovation, and community initiatives to drive inclusive growth, environmental stewardship, and long-term value creation for all stakeholders.

Know more
SDG 1: No Poverty SDG 2: Zero Hunger SDG 3: Good Health and Well-Being SDG 4: Quality Education SDG 5: Gender Equality SDG 6: Clean Water and Sanitation SDG 7: Affordable and Clean Energy SDG 8: Decent Work and Economic Growth SDG 9: Industry, Innovation and Infrastructure SDG 10: Reduced Inequalities SDG 11: Sustainable Cities and Communities SDG 12: Responsible Consumption and Production SDG 13: Climate Action SDG 15: Life on Land SDG 17: Partnerships for the Goals

Stakeholder Engagement

Collaborating for shared success

Annual General Meeting

Investors and Lenders

Partner Recognition Ceremony

Vendor Partners/ Suppliers

Enduring Partnership Programme

Customers

Customer Engagement

Government and Regulatory Bodies

Government Delegation Visit

Employees

Sahyog Fellowship

Community

National Leadership Conclave

Industry Bodies

Media Interaction

Media

MoU Signing Ceremony

Academic Bodies

Know more

Materiality

Unified focus on our priorities

Tata Steel’s material ESG priorities are identified through extensive stakeholder engagement and rigorous assessment to guide strategic decision-making and deliver sustainable, long-term value.

Know more

Introducing our Capitals

Optimising value

Financial Capital

  • ₹2,32,140 croreTurnover
  • ₹34,848 croreEBITDA
  • ₹35,064 croreCash flow from operations
Know more

Manufactured Capital

  • 31.67 MTProduction
  • 31.97 MTDeliveries
  • 13%Steel scrap recycling^
Know more

Intellectual Capital

  • ₹1,456 croreR&D expenditure
  • 200+Patents granted
  • 120+New products developed
Know more

Human Capital

  • 937 tcs/emp/yearEmployee productivity^
  • 18%Workforce diversity
  • 76 hoursTraining hours/employee^
Know more

Social & Relationship Capital

  • 6.9 millionLives impacted through CSR*
  • ₹473 croreCSR expenditure*
  • 14,000+Active supplier base
Know more

Natural Capital

  • 53.5 MTRaw materials mined
  • 2.22 tCO₂/tcsCO₂ emission intensity^
  • 2.30 m³/tcsSpecific freshwater consumption*
Know more

Iconic Projects

Building Landmarks of Tomorrow

Know more
Dhono Dhanyo Auditorium, Kolkata

Dhono Dhanyo
Auditorium, Kolkata

Inspired by a conch shell, it is a testament to exemplary architectural design. Its structure is reinforced by 1,200 tonnes of Tata Structura steel used in the columns, trusses and purlins.

Trichy International Airport

Trichy
International Airport

Tata Steel Colors supplied advanced roofing profiles for the new terminal at Trichy International Airport, India.

Atal Setu, Mumbai

Atal Setu,
Mumbai

Proud to have played a part in building India’s longest sea bridge, the Atal Setu, with over 42,600 tonnes of Tata Tiscon Fe500D, Tiscon ReadyBuild solution and our structural plates.

Sudarshan Setu, Gujarat

Sudarshan Setu,
Gujarat

India’s longest cable-stayed bridge, the Sudarshan Setu, has used 920 tonnes of Tata Tiscon Fe500D and 1,000 tonnes of Tata Wiron LRPC strands.

Coastal Road, Mumbai

Coastal Road,
Mumbai

Contributed 1,313 tonnes of Tata Wiron LRPC strands for specialised construction requirements of the Mumbai Coastal Road.

Awards and recognition

CII Design Excellence Award
Engineering Design

15th CII Design Excellence Award 2025 in the 'Engineering Design' category for the development of steel for hydrogen transportation.

Thailand Kaizen Award
Technology Promotion

SISCO (Tata Steel Thailand) wins Thailand Kaizen Award 2025 – Silver Award from the Technology Promotion Association (Thailand-Japan) for the project 'Using AI to Inspect Billet Length and Surface Defects'

SSF Global Award
Agentic AI

Award from SSF Global on successful adoption of Agentic AI at Tata Steel Business Delivery Centre Limited (TSBDCL)

TATA INNOVISTA
Business Impact Innovation

Eye on Accretion
Care Process Innovations
Green FRP Composite
Patented Technology Innovations
R&D 100 Award
R&D 100

63rd R&D 100 Award in the Mechanical Material category for developing hydrogen-resistant API X65 steel pipe

Flue2Chem
Collaborative Research Project

Flue2Chem - Tata Steel UK's collaborative research project recognised

GreenPro Certification
Tata Agrico

Tata Agrico receives GreenPro Certification

worldsteel Sustainability Champion
World Steel Association

worldsteel Steel Sustainability Champion 2026 (9th consecutive year)

IWEI Gold Employer
Employment

IWEI (India Workplace Equity Index ) Gold Employer 2025

Star Employer Odisha
Employment

Recognised as Star Employer Recognised as in the State by Government of Odisha

Decade of Safety Excellence
CRC West

Tata Steel CRC West awarded 'Decade of Safety Excellence' award at SafeTech 2025

worldsteel Safety Recognition
Process Safety

worldsteel Safety and Health Excellence Recognition 2025 for Process Safety Management

BW CFO Tax Leaders Award
Tax Strategy

BW CFO World India Tax Leaders Award 2025 for Tax Strategy Team of the Year and Excellence in Corporate Tax Compliance

Legal Team of the Year
Legal

Legal Team of the Year - Manufacturing at the 15th Annual Legal Era Indian Legal Awards 2025-26

CII Sports Business Award
Sports

CII Sports Business Award 2025 for 'The Legacy of Excellence in Sports Patronage'

Zero PPM Award Toyota
Customer

Tata Steel and JCAPCPL received the 'Zero PPM' award by Toyota Kirloskar Motor Private Limited for zero-defect delivery performance in FY2025-26

Tata Steel Thailand CSR Award
CSR

Tata Steel Thailand wins CSR Continuous Award from Department of Primary Industries and Mines, Thailand