Tata Steel is expected to report a sequential improvement in its Q2 earnings on November 13. On a consolidated basis, in terms of topline, there could be some de-growth because prices are still lower year-on-year (YoY). However, the operating profit is not expected to decline substantially resulting in margins remaining stable.

The most crucial number for Tata Steel’s domestic business will be EBITDA per tonne. It is expected to improve to more than Rs 12,000 as per the CNBC-TV18 poll. However, the European business could remain a pain point. An EBITDA loss of close to around $40 is expected.

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(Edited by : Bivekananda Biswas)