Tata Steel Ltd has postponed its target to make its UK business net profit-positive from fiscal year 2025-26 to 2028-29, aligning with the completion of its electric arc furnace (EAF) project in the country, according to livemint.com. The steelmaker aims for the UK unit to be both EBITDA and profit after tax (PAT) positive by FY29.
At the company’s annual general meeting, Tata Steel chairman Chandrasekaran stated that the UK business is expected to stem losses and achieve profitability once the EAF project concludes in FY29. The project is seen as a key milestone for improving operational efficiency and financial performance in the UK market, which has faced challenges in recent years.
The delay in profitability reflects broader market conditions and operational hurdles in the UK steel sector. Tata Steel’s FY26 consolidated revenue rose 6% to ₹2.32 trillion, while net profit more than tripled to ₹10,793.87 crore, highlighting strong performance in other segments. The UK business turnaround is critical given the sector’s competitive pressures and the company’s strategic focus on sustainable steelmaking technologies.
The EAF project completion in FY29 will mark a significant shift for Tata Steel’s UK operations, targeting not only EBITDA positivity but also PAT profitability. This timeline was confirmed during the company’s 2026 annual general meeting, setting a clear financial goal for the UK unit within three years.