Tata Steel, JSW Steel, SAIL: Steel shares trade lower on Monday; here’s how firms fared in Q4 FY26

Shares of steel companies like Tata Steel, JSW Steel and Steel Authority of India (SAIL) were trading in the red on Monday, May 18, with two of them reacting to their fourth-quarter earnings.

Tata Steel shares slipped 5.4% to their intraday low of ₹205.05 apiece, while SAIL’s stock hit its day low of ₹188.21 per share, losing 2%. JSW Steel shares were also down 1.6% to an intraday low of ₹1,258.30 per share on the National Stock Exchange.

For a month’s time, SAIL and JSW Steel shares have rallied 9.3% and 2.2%, respectively, while Tata Steel shares have slipped 1.6% during the period.

Here’s how the companies performed in Q4 FY26

Tata Steel

Tata Steel had posted a 125% year-on-year (YoY) increase in its consolidated net profit at ₹2,926 crore in the quarter ended March 31, 2026 (Q4 FY26), on May 15. In the corresponding period last year, the firm had clocked a profit of ₹1,301 crore.

At the operational level, Tata Steel’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at ₹9,828 crore in contrast to ₹6,559 crore in the same quarter of the previous fiscal year, marking a 50% jump.

The EBITDA margin expanded to 15.53% in Q4 FY26, as opposed to 11.67% year over year.

For FY26, Tata Steel reported consolidated revenues of ₹2,32,140 crore and EBITDA of ₹34,848 crore, with EBITDA rising 35% YoY despite a challenging operating environment. The India business contributed revenues of ₹140,302 crore and EBITDA of ₹34,272 crore, translating to a margin of 24%, with EBITDA improving 17% YoY, supported by crude steel production of around 23.4 million tonnes and deliveries of about 22.5 million tonnes.

The Netherlands business reported revenues of €1,605 million and EBITDA of €58 million for the quarter under review, with liquid steel production at 1.63 million tonnes and deliveries at 1.70 million tonnes.

SAIL

State-owned steelmaker on May 15 reported an over 42% rise in standalone net profit to ₹1,680 crore during the March quarter of FY26, citing higher revenues. The company had reported a net profit of ₹1,178 crore in the year-ago period.

During January-March, SAIL's revenue from operations increased to ₹30,813 crore from ₹29,316 crore recorded in the fourth quarter of FY25.

The company's board also approved a final dividend of ₹2.35 per equity share for FY26. Its annual net profit stood at ₹3,233 crore as against ₹2,148 crore registered in FY25.

Revenue from operations was at ₹1,10,810 crore during FY26 as against ₹1,02,478 crore a year ago. In FY26, SAIL produced 19.43 million tonnes of steel as against 19.17 million tonnes in FY25.

JSW Steel

Its revenue from operations surged 14.19% YoY to ₹51,180 crore during the quarter under review, compared to ₹44,819 crore in the January-March quarter of the 2024-25 fiscal year (Q4 FY25).

At an operational level, its reported EBITDA stood at ₹8,634 crore in the March FY26 quarter, marking a 35% YoY increase from ₹6,378 crore in the same period of the preceding fiscal year.

However, its crude steel production fell 2% YoY to 7.34 million tonnes for the reporting quarter, from 7.4 million tonnes in Q4 FY25.

It recorded its highest-ever steel sales for the quarter at 7.97 million tonnes, reflecting a 6% YoY jump from 7.49 million in the year-ago period. Its domestic sales of 7.09 million tonnes were also the highest ever. JSW Steel recorded a 5% YoY increase in institutional sales and a 3% YoY rise in retail sales.