Working Capital Management is a cornerstone in the success of manufacturing companies but it is more relevant to capital intensive industries such as steel whose effectiveness and profitability are common functions that rely on good accounting management. Best possible management of operating assets and operating liabilities enables smooth operation while still having low financing costs. The present study seeks to examine the working capital management and performance of Tata Steel Limited for the period 2021-2014 based on its annual reports and financial statements. Tugnavska considers significant indicators of working capital as current ratio, inventory turnover ratio, debtors turnover ratio and cash conversion cycle within the scope of profitability ratios - return on assets and net profit margin. The efficiency of working capital management is being measured by using both ratio analysis and trend analysis on the Profitability of the firm. Results indicate that working capital management affects profitability of firms and inventory and receivables are most significant. This study highlights the importance of adequate working capital policy as a tool for managing liquidity and profitability in cyclic industry environment.