Tata Steel announces ₹303.13 crore bonus for employees for FY25, key details here

The minimum bonus at full attendance, and the maximum bonus at actual attendance will be ₹39,004 and ₹3,92,213 for FY25, respectively, Tata Steel said in a statement. Tata Steel on Thursday, August 28, announced a bonus of ₹303.13 crore for its employees for the financial year 2024-25, following the signing of a memorandum of settlement with the workers' union in Jamshedpur. For divisions at Jamshedpur, including tubes, ₹152.44 crore of the total payout will be distributed as annual bonus among 11,446 employees, the company said. As per the memorandum of settlement signed with Tata Workers' Union (TWU), the total annual bonus payout for eligible employees of all applicable divisions and units for FY25 will be ₹303.13 crore, the steel maker said in a statement. The minimum bonus at full attendance, and the maximum bonus at actual attendance will be ₹39,004 and ₹3,92,213 for FY25, respectively, it added. "Since the majority of our employees of the steel company are drawing salary/wages higher than the limit laid down in the Payment of Bonus (Amendment) Act, 2015, they are not eligible for bonus under the Act. However, respecting our old traditions, the company is going to pay a bonus to all employees in the unionised category," the statement read. Tata Steel CEO and MD T V Narendran, Chief People Officer Atrayee Sanyal, and other senior executives signed the memorandum of settlement on management's behalf. Tata Workers' Union president Sanjeev Kumar Choudhary, its general secretary Satish Kumar Singh and the other office bearers signed the agreement on the union's behalf. Jharkhand government's Deputy Labour Commissioner, Jamshedpur and Conciliation Officer Arvind Kumar were also present there. Tata Steel shares and Q1 Shares of Tata Steel ended 0.5% down at ₹154.17 apiece on the NSE on Thursday, after touching an intraday high of ₹155.87 apiece. The stock hit its 52-week high of ₹170.18 per share on September 30, 2024, while it was at its 52-week low of ₹122.62 per share on January 13, 2025. In the last five days, the scrip has fallen 4.17%, while it has declined by 3.45% over the past month. However, Tata Steel shares have jumped 12.37% in the last six months, and the year-to-date gain stands at 12.75%. For the first quarter of the current fiscal (Q1 FY26), the company posted a consolidated net profit of ₹2,007.36 crore. The net profit more than doubled on the back of an increase in net steel realisations and the planned cost-takeouts across increase in net steel realisations and the planned cost-takeouts, the company said in a regulatory filing. In Q1 FY25, the company had posted a net profit of ₹918.57 crore. However, its total income was lower at ₹53,466.79 in the June quarter against ₹55,031.30 crore in the year-ago period. Its expenses also declined to ₹50,347.31 crore in Q1 FY26 from ₹52,389.06 crore a year ago. Tata Steel's revenues from India fell to ₹31,014.36 crore in the April-June quarter from ₹32.957.89 crore in the same quarter last year. With PTI inputs