'UK steel ops to break even by FY26 as Tata cuts blast furnace losses'

Tata Steel's top brass on trade headwinds, European operations, MSME concerns, and India expansion plans amid Q1FY26 profit surge

A day after Tata Steel more than doubled its consolidated net profit in the first quarter (Q1) of 2025-26 (FY26), T V Narendran, managing director and chief executive officer, and Koushik Chatterjee, executive director and chief financial officer, discuss a range of issues with Ishita Ayan Dutt during a video interview. Edited excerpts:

 

What is the impact of the US-UK and US-European Union (EU) trade deals on your European operations?

 

T V Narendran: For the US-UK, what has been agreed upon is a 10 per cent duty on exports from the UK to the US. That is better than what