Tata Steel credit metrics to rise in FY25 driven by robust EBITDA growth

05 Jun 2024 CW Team

CreditSights, a subsidiary of FitchSolutions, anticipates a significant improvement in Tata Steel's credit metrics for the fiscal year 2025. This enhancement is expected to be driven by robust EBITDA growth and reduced capital expenditure, leading to a favourable net leverage position. The report highlights factors such as infrastructure-driven domestic steel demand and declining coking coal prices as key contributors to this improvement. Despite Tata Steel's recent financial performance, which witnessed a substantial decline in consolidated net profit for the March quarter, CreditSights remains optimistic about the company's prospects. It predicts a strong mid-20% year-on-year growth in FY25 EBITDA, fuelled by resilient domestic steel demand, potential recovery in steel price realisations, and lower input costs for coking coal offsetting higher iron ore costs. Although Tata Steel's annual results revealed a decline in revenues and EBITDA due to on-going losses in Europe and increased operating expenses, the company's performance was relatively better than anticipated. Strong revenues from India operations and reduced coking coal expenses partially mitigated these challenges, according to the ratings firm. (Source: ET)

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..