iStockMotilal Oswal Financial Services has neutral call on Tata Steel with a target price of Rs 120. The current market price of Tata Steel is Rs 132.15.
Tata Steel, incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 161752.04 Crore) operating in Metals - Ferrous sector.
Tata Steel key Products/Revenue Segments include Steel & Steel Products, Power, Other Operating Revenue and Others for the year ending 31-Mar-2023.
Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 60666.48 Crore, down -3.90 % from last quarter Total Income of Rs 63131.08 Crore and down -4.76 % from last year same quarter Total Income of Rs 63698.15 Crore. Company has reported net profit after tax of Rs 796.13 Crore in latest quarter.
Investment Rationale
While progress towards resolving the UK facility, which is nearing the end of its useful life, is encouraging, the brokerage awaits more clarity on financials, write-offs and other operational details. Further, it anticipates the release of these information in the upcoming months, particularly after the 2Q FY24 results. The stock is currently trading at 6.3x FY25E EV/EBITDA and 1.4x FY25E P/B
Promoters held 33.9 per cent stake in the company as of 30-Jun-2023, while FIIs owned 20.28 per cent, DIIs 20.77 per cent.
Tata Steel, incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 161752.04 Crore) operating in Metals - Ferrous sector.
Tata Steel key Products/Revenue Segments include Steel & Steel Products, Power, Other Operating Revenue and Others for the year ending 31-Mar-2023.
Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 60666.48 Crore, down -3.90 % from last quarter Total Income of Rs 63131.08 Crore and down -4.76 % from last year same quarter Total Income of Rs 63698.15 Crore. Company has reported net profit after tax of Rs 796.13 Crore in latest quarter.
Investment Rationale
While progress towards resolving the UK facility, which is nearing the end of its useful life, is encouraging, the brokerage awaits more clarity on financials, write-offs and other operational details. Further, it anticipates the release of these information in the upcoming months, particularly after the 2Q FY24 results. The stock is currently trading at 6.3x FY25E EV/EBITDA and 1.4x FY25E P/B
Promoter/FII Holdings
Promoters held 33.9 per cent stake in the company as of 30-Jun-2023, while FIIs owned 20.28 per cent, DIIs 20.77 per cent.
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