Abstract

Purpose: This study evaluates the financial resilience and sustainability of Tata Steel Limited and Jindal Steel & Power Ltd. (JSPL) during the post-pandemic period (FY2021–22 to FY2025–26). It assesses their ability to withstand financial disruptions, maintain operational stability, and achieve sustainable growth following the COVID-19 pandemic. Theoretical Framework: The study is based on the concepts of financial resilience and corporate sustainability, emphasizing liquidity, profitability, solvency, operational efficiency, and shareholder value creation as key dimensions of longterm financial performance. Methodology: A quantitative and comparative research design was adopted using secondary data from the audited annual reports of Tata Steel and JSPL. Financial resilience was assessed through financial ratio analysis, Compound Annual Growth Rate (CAGR), descriptive statistics (mean, standard deviation, and coefficient of variation), and Pearson correlation analysis for the period FY2021–22 to FY2025–26. Findings: The findings reveal that both companies demonstrated strong postpandemic financial resilience and sustainable performance. Tata Steel showed comparatively higher overall resilience through stable liquidity, efficient asset utilization, sustained profitability, and strong positive relationships among profitability and return indicators, despite earnings normalizing after FY2021– 22. JSPL exhibited financial strength through a conservative capital structure, low debt-equity ratio, stable revenue generation, efficient capital utilization, and a high earnings retention strategy that supports long-term growth. Overall, Tata Steel marginally outperformed JSPL in terms of balanced financial resilience, while JSPL displayed greater financial conservatism and long-term financing sustainability.

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Funding