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Perspective on Tata Steel Q2FY23 Results by Anmol Das, Teji Mandi
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Below is perspective on Tata Steel Q2FY23 Results by Mr Anmol Das, Head of Research, Teji Mandi
1. Tata Steel Q2FY23 revenues beat estimates, but misses on all other fronts including EBITDA, Margins and Net Profits.
2. Higher coke prices, especially in Europe operations, dented their margins while declining prices affected the overall realization per tonne sequentially.
3. The upcoming capacities of Tata Steel and other steel makers in India will further intensify the competitive pricing of steel in the domestic market, and steel prices will require more demand for the incremental consumption.
4. Sector to further underperform for next couple of years till demand grows more stronger along with increase in exports.
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