Tata Steel Ltd.

Financial

	Tata Steel	JSW Steel	SAIL
Operational Metrics
Steel Sector
Capacity Utilization - Steel	88.8 %	80.85 %	97.73 %
Manufacturing Capacity - Steel	35000.0 Ths Tonnes	28200.0 Ths Tonnes	18540.0 Ths Tonnes
Realization/Tonne - Steel	69492.23 Rs/MT	56849.73 Rs/MT	55282.17 Rs/MT
Quarterly Sales Volume - Steel	7.72 Million Tonnes	5.59 Million Tonnes	4.43 Million Tonnes
EBITDA/Tonne - Steel	7759.0 Rs/Tonne	8314.46 Rs/Tonne	5392.78 Rs/Tonne
Financials
5 yr Average ROE	10.23 %	15.34 %	9.24 %
5yr average Equity Multiplier	3.0	3.18	2.54
5yr Average Asset Turnover Ratio	0.76	0.68	0.7
5yr Avg Net Profit Margin	4.79 %	7.41 %	5.25 %
Price to Book	1.95	3.19	0.84
P/E	64.49	76.99	21.46
5yr Avg Cash Conversion Cycle	-37.16 Days	33.21 Days	25.77 Days
Inventory Days	75.33 Days	68.4 Days	95.16 Days
Days Receivable	11.56 Days	15.31 Days	23.22 Days
Days Payable	133.55 Days	64.89 Days	100.81 Days
5yr Average Interest Coverage Ratio	3.72	3.44	4.23
5yr Avg ROCE	13.68 %	14.24 %	11.47 %
5yr Avg Operating Profit Margin	16.09 %	19.05 %	14.78 %
5 yr average Debt to Equity	1.0	1.27	0.73
5yr CAGR Net Profit	n/a	16.94 %	7.66 %
5yr Average Return on Assets	3.87 %	4.96 %	3.85 %
Shareholdings
Promoter Holding	33.19 %	44.84 %	65.0 %
Share Pledged by Promoters	0.0	13.36 %	0.0
Change in Promoter Holding (3 Yrs)	-0.73 %	-0.17 %	0.0
Change in Mutual Fund Holding (3 Yrs)	1.96 %	1.71 %	0.39 %

Business

	Tata Steel	JSW Steel	SAIL
Product Wise Break-Up	Product Wise Break-Up Steel 94.17 Plates and pipes 0 Long rolled products 0 Steel billets & blooms 0 Cold rolled coils/sheets 0 Color Coated Galvanized coils/sheets 0 Galvanized coils/sheets 0 Hot rolled coils/steel plates/sheets 0 MS slabs 0 Iron and steel 0 Others 5.83	Product Wise Break-Up Hot rolled products 33.47 Galvanized coils/sheets 13.28 Steel billets & blooms 0.55 MS slabs 0.97 Iron and steel 0 Color Coated Galvanized coils/sheets 16.49 Steel 0 Cold Rolled Products 3.33 Plastic 5.58 Long rolled products 18.52 Others 7.81	Product Wise Break-Up Hot rolled coils/steel plates/sheets 0 Galvanized coils/sheets 0 Steel billets & blooms 0 MS slabs 0 Iron & Steel 96.59 Color Coated Galvanized coils/sheets 0 Steel 0 Cold rolled coils/sheets 0 Plates and pipes 0 Long rolled products 0 Others 3.41
Location Wise Break-Up	Location Wise Break-Up India 50.17 Rest of the World 46.19 Others 3.64	Location Wise Break-Up Rest of the World 8.0 India 92.0	Location Wise Break-Up Rest of the World 0.6 India 99.4
Operating Profit Break-Up	Operating Profit Break-Up Tata steel India 94.04 South east Asian operation 0.51 Tata steel Europe 0 Tata Steel long products 0 Others 5.45	-	-
Verticals	Verticals B2B Industrial product & projects 32.95 B2C 27.75 B2ECA 21.39 B2B Automotive 11.56 Others 6.35	-	-
Asset Break-Up	Asset Break-Up India 76.81 Others 23.19	-	-
Asset Break-Up	Asset Break-Up India 76.81 Others 23.19	-	-
Segment Wise Break-Up	Segment Wise Break-Up Tata Steel Limited 48.03 Tata steel Europe 27.11 Other Trade Related Operations 15.95 Other Indian Operations 3.64 South East Asian Operations 2.61 Rest of the World 0.52 Tata Steel Long Products 0 0 Others 2.14	-	-

Tata Steel Ltd.

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