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Tata Steel Q2 Earnings: Here's what to expect today

Kolkata-headquartered steel-making company Tata Steel is all set to announce its September-quarter results today. In the last one year, Tata Steel has lost around 30 percent of its market capitalisation.
Here are the things to keep in mind ahead of its Q2 results:
  • Exports helped the volumes but are unlikely to help profitability.
  • There will be negative operating leverage. However, that will be partly negated as the company buys some of its coking coal from the open market.
  • The erstwhile Bhushan Steel, its acquired asset, has delivered the numbers and the EBITDA was the lowest since Q1FY18.
  • Tata Steel Europe will be a washout.
  • EBITDA per tonne of around Rs 10,300 is expected.