REG - Tata Steel Limited - Outcome of Board Meeting of Tata Steel Limited

TATA SteelAnnouncement

15/05/2026 16:00

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RNS Number : 5899E  Tata Steel Limited  15 May 2026

 

 

Ref.: SEC/337/2026-27

May 15, 2026

 

 London Stock Exchange

 London

Dear Madam, Sirs,

 

Sub: Outcome of Board meeting of Tata Steel Limited

 

This has reference to our intimation of meeting of the Board of Directors of
Tata Steel Limited ('Company') dated May 7, 2026.

 

The Board of Directors ('Board') of the Company at its meeting held today,
i.e. May 15, 2026, inter alia, transacted the following business:

 

1.   Financial Statements and Results

 

(a)  Considered and approved the audited Standalone and unaudited
Consolidated Financial Statements and Results of the Company for the quarter
ended March 31, 2026.

 

(b)  Considered and approved the audited Standalone and Consolidated
Financial Statements and Results of the Company for the financial year ended
March 31, 2026.

 

The financial information as required to be provided in terms of Regulation 52
of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') forms
part of the Financial Results.

 

Price Waterhouse & Co. Chartered Accountants LLP, the Statutory Auditors
of the Company have issued the Auditors' Report(s) with an unmodified opinion
on the Financial Results and Statements of the Company for the financial year
ended March 31, 2026. Further, there are no opinions/ adverse remarks provided
by the statutory auditors in their Audit Report(s) which have bearing on the
interest payment / principal repayment capacity of the Company.

 

A copy of the said Financial Results together with the Statutory Auditors'
Report for the financial year ended March 31, 2026, are enclosed herewith as
Annexure 1.

 

These are also being made available on the website of the Company at
www.tatasteel.com (http://www.tatasteel.com)

 

2.   Dividend and 119(th) Annual General Meeting

 

Recommended a dividend of ₹4/- per Ordinary (equity) Share of face value
₹1/- each (400%) to the shareholders of the Company for FY2025-26.

 

The dividend recommended by the Board of the Company is subject to the
approval of the shareholders at the ensuing Annual General Meeting ('AGM') of
the Company scheduled to be held on Thursday, July 2, 2026.

 

The dividend, if approved by the shareholders at the AGM, will be paid,
subject to deduction of applicable tax at source, on and from Monday, July 6,
2026.

 

3.   Record Date

 

Pursuant to Regulation 42 of the SEBI Listing Regulations, the Board of the
Company has fixed Friday, June 12, 2026 as the Record Date for determining the
Members entitled to receive the dividend for the FY2025-26.

 

4.   Acquisition of equity stake in TM International Logistics Limited

 

TM International Logistics Limited ('TMILL') is a 51:26:23 joint venture
company between Tata Steel Limited, NYK Holding Europe B.V ('NYK') and IQ
Martrade Holding Und Management GmbH ('IQ'), respectively.

 

The Board of the Company considered and approved the acquisition of 41,40,000
equity shares of face value ₹10/- each (23% equity stake), in TMILL, from IQ
for a consideration of ₹335 crore, subject to necessary approvals. The
Company has today, executed Share Purchase Agreement with IQ and TMILL. The
transaction is subject to customary conditions precedent, and approvals from
regulatory authorities including Competition Commission of India and other
stakeholders, as applicable.

 

On completion of the above transaction, the Joint Venture Agreement dated July
26, 2001, between the Company and IQ, and the Deed of Adherence dated November
26, 2009, amongst the Company, TMILL, NYK, and IQ will be terminated and the
Company will hold 74% equity shares in TMILL and NYK will hold 26% equity
shares in TMILL.

 

For further details on this transaction, please refer Annexure 2.

 

5.   Update on Tata Steel Netherlands

 

Tata Steel Netherlands ('TSN') is a wholly owned indirect subsidiary of the
Company. TSN continues to be deeply engaged with the local regulatory bodies
on addressing the issues related to the IJmuiden operating site. Based on the
local Environment Agency's measurements of exceedances of emissions of
substances versus certain prescribed limits, TSN has received multiple notices
alleging non-compliance and has paid more than €20 million of penalties in
FY2026 in relation to the coke and gas plants. These actions initiated by
regulatory authority(ies) against TSN was not in relation to Tata Steel
Limited. Many of these penalties relate to exceedances where no technically
and operationally feasible best practices are currently available globally to
address the issue in a time frame acceptable to the Environment Agency given
the design and vintage of these coke ovens (40 - 50 years old). The
Environment Agency and the local Province have also on April 23, 2026 issued a
letter to Tata Steel Netherlands indicating their intention to revoke
operating permits and trigger an early closure of the coke and gas plants.
Tata Steel Netherlands has made a detailed assessment and shared with the
Agency and the Province a timeline which is necessary to ensure a safe,
responsible and controlled closure process. Tata Steel Netherlands is also
exploring all options including legal recourse to ensure that the closure
process is managed with due care and prudence. However, pending assurance on a
feasible timeline, the financial statements of Tata Steel Netherlands have
been prepared taking into account a material uncertainty to going concern in
discussion with its auditors. Tata Steel Netherlands is also engaged with the
regulators on evolving standards relating to classification and disposal of
steel slag, where local requirements in Netherlands now not only exceed EU
standards but are threatening to become infeasible.

 

The Board meeting commenced at 2.00 p.m. (IST) and concluded at 5:15 p.m.
(IST).

 

Further, please find enclosed herewith the Press Release and Investor
Presentation to be made

to Analysts/ Investors of Tata Steel Limited.

 

These disclosures are being made pursuant to Regulation 30, 33, 52, 51 read
with Schedule III and other applicable provisions of the SEBI Listing
Regulations, as amended, along with applicable SEBI Circulars notified in this
regard.

 

This is for your information and records.

 

Encl.: As above.

http://www.rns-pdf.londonstockexchange.com/rns/5899E_1-2026-5-15.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5899E_1-2026-5-15.pdf)

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