InvestorQ : How are the latest results of Tata Steel BSL?
Niti Shenoi made post

How are the latest results of Tata Steel BSL?

ishika Banerjee answered.
6 months ago

Tata Steel BSL Limited was formed after Tata Steel took over the erstwhile Bhushan Steel, which had been referred to NCLT following huge losses and a massive default on loans to banks and other financial institutions.

Tata Steel BSL reported a 21% growth in net sales at Rs.5519 crore for the Sep-20 quarter. This remains one of the few successful NCLT executed cases, which was successfully taken to its logical conclusion in the early stages.

In terms of profitability, the net profits for the quarter were up by 229% at Rs.255 crore, a sharp positive growth on a YOY basis. However, this is more due to a very small base. Tata Steel BSL also reported 126% growth on a YOY basis in EBITDA at Rs.1140 crore.

The stock of Tata Steel BSL has been one of the good performers in the six months following the onset of the Coronavirus pandemic. It has rallied nearly 30% in the last 6 months after signals of a turnaround were first visible. It also benefited from renewed demand from China.