NEW DELHI: In a testament to the Central government’s successful privatisation policy, Neelachal Ispat Nigam Limited (NINL)—acquired by Tata Steel from the government for ₹12,100 crore in 2022—has achieved an annual EBITDA or operational profit of around ₹1,000 crore with a margin of 19%, in the March quarter. The company posted a free cash flow exceeding ₹1,000 crore this quarter.
“This demonstrates the turnaround of the company, which was closed at the time of acquisition three years ago,” said Koushik Chatterjee, Executive Director and Chief Financial Officer of Tata Steel, while announcing the company’s fourth-quarter results.
According to Tata Steel, which holds a 99.66% stake in NINL, the company operated at its rated capacity or the maximum output achievable under normal operating conditions, during the year.
For Q4 FY25, NINL posted revenue of ₹1,417 crore, up 25% year-on-year. In FY25, total revenue stood at ₹5,701 crore, marking a 3.5% increase over the previous year. The company’s EBITDA for Q4 was ₹313 crore, up significantly from ₹71 crore in the same quarter last year. For the full year, NINL’s EBITDA rose to ₹1,067 crore—20 times higher than the previous year.
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