Tata Steel eyes 9% India sales growth this fiscal

Mumbai: Tata Steel is targeting a near 9% rise in steel sales in India this fiscal year, aided by additional production from its facility in Kalinganagar, Odisha, which is currently ramping up. The company commissioned an additional five million tonne capacity at this facility last year, taking the total to eight million tonne.

The fresh capacity will come at a time when demand for steel is seen growing by 8-9% in 2026, largely driven by greater spending on infrastructure and urbanisation. Tata Steel sold a record 22.53 million tonne of steel in India in FY26.

Tata Steel, among the world's top producers of the commodity, has manufacturing operations in the Netherlands, UK, and Thailand, besides its home market of India.


The company is also targeting fully repaying outstanding bonds issued by its overseas subsidiaries by this fiscal year-end, according to senior executives.

"For the last few years, we have been focusing on the onshoring of overseas debt to mitigate the rupee depreciation risks," said chief executive officer TV Narendran and chief financial officer Koushik Chatterjee in the company's FY26 annual report.

Tata Steel's overseas debt stood at 18% of its total debt last fiscal, declining from 50% in FY21, per the company. "Without this proactive onshoring, our gross debt would have been higher by ₹12,500 crore due to rupee depreciation alone," the executives said.

A strengthened balance sheet is helping Tata Steel retain financial flexibility required to fund investments in growth, value-added upstream and downstream assets, as well as new technologies and decarbonisation through the business cycle, the management said.

Tata Steel closed FY26 with a gross debt of ₹80,144 crore, and a net-debt-to-EBITDA ratio of 2.3 times.