Steel Authority Of India Ltd.

•

sail.co.inBSE: 500113NSE: SAIL

Market Cap₹ 73,936 Cr.

Current Price

High / Low₹ 210 / 124

Stock P/E17.3

Book Value₹ 150

Price to Book1.04

Dividend Yield1.31 %

ROCE7.1 %

ROE5.7 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • BSP: 27.7% • RSP: 21.7% • BSL: 21.3%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Latest quarter profit grew 120.8% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.62x)
Operating margins have improved to 10.6% from 7.5%
Working capital cycle has improved - days down from -15 to -25
Company generates healthy free cash flow

CONS

Company has a low return on capital employed of 6.9%
Company has a low return on equity of 5.1% over last 3 years
Company has delivered a poor profit growth of -4.1% over past five years
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTYM150MOMNTM50 NIFTY ALPHA 50 NIFTY500MOMENTM50 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250

S.No.	Name
1.	JSWSTEEL	1267.50	12.51	309961.29	0.56	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	182.85	20.69	228259.99	2.19	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	179.00	17.31	73936.40	1.31	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2676.25	30.57	70596.97	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	755.20	19.16	62260.17	0.53	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2153.00	48.64	59779.85	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1074.35	26.70	29988.53	0.42	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	JINDALSAW	311.85	30.52	19943.06	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2808.15	45.47	19682.88	0.36	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	524.75	16.37	18491.21	0.38	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	244.50	20.41	16460.69	0.41	222.37	2.75	1750.47	32.29	20.20	19.36
12.	USHAMART	494.15	29.70	15058.83	0.76	142.04	40.90	1033.00	16.44	20.17	20.62

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	24,359	29,712	23,349	27,959	23,998	24,675	24,490	29,316	25,922	26,704	27,371	30,813	26,246
	22,710	25,837	21,206	24,476	21,778	21,762	22,460	25,832	23,153	24,176	25,077	26,405	24,146
Operating Profit	1,649	3,875	2,142	3,483	2,220	2,913	2,030	3,484	2,769	2,528	2,294	4,409	2,099
OPM %	6.77%	13.04%	9.18%	12.46%	9.25%	11.80%	8.29%	11.88%	10.68%	9.47%	8.38%	14.31%	8.00%
	464	-269	220	-189	-135	167	262	268	162	-133	175	22	350
Interest	613	605	614	642	691	758	680	664	595	484	547	532	493
Depreciation	1,275	1,327	1,321	1,356	1,402	1,304	1,421	1,524	1,441	1,453	1,516	1,577	1,560
Profit before Tax	225	1,675	428	1,296	-9	1,018	191	1,564	895	458	406	2,321	2,187
Tax %	33.67%	27.72%	32.65%	24.35%	-190.54%	27.13%	94.52%	25.98%	24.95%	30.01%	26.04%	28.70%	24.82%
Net Profit	0	0	0	0	818	897	1,419	1,251	745	419	374	1,835	1,644
	0.51	3.16	1.02	2.73	0.20	2.17	0.34	3.03	1.80	1.01	0.91	4.44	3.98

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	44,502	57,560	66,974	61,664	69,114	1,03,477	1,04,448	1,05,378	1,02,479	1,10,811	1,11,135
	44,435	52,924	57,212	51,448	56,375	82,135	96,408	94,229	91,833	98,811	99,804
Operating Profit	67	4,636	9,762	10,216	12,739	21,342	8,039	11,149	10,646	12,000	11,331
OPM %	0.15%	8.05%	14.58%	16.57%	18.43%	20.62%	7.70%	10.58%	10.39%	10.83%	10.20%
	233	442	105	134	919	505	1,208	226	562	226	413
Interest	2,528	2,823	3,155	3,487	2,817	1,698	2,037	2,474	2,793	2,158	2,057
Depreciation	2,682	3,066	3,385	3,756	4,103	4,275	4,964	5,278	5,651	5,988	6,107
Profit before Tax	-4,716	-527	3,549	3,302	7,206	16,292	2,892	4,062	3,252	4,506	5,372
Tax %	41.55%	46.57%	33.82%	35.77%	42.43%	24.85%	24.75%	24.50%	27.06%	25.14%	27.03%
Net Profit	-2,756	-281	2,349	2,121	4,148	12,243	2,177	3,067	2,372	3,373	3,920
EPS	-6.67	-0.68	5.69	5.13	10.04	29.64	5.27	7.42	5.74	8.17	—
Dividend Payout %	0.00%	0.00%	8.79%	0.00%	27.88%	29.52%	28.47%	26.94%	27.86%	28.78%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 10%
3 Years:: 2%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -4%
3 Years:: 16%

STOCK PRICE CAGR

10 Years:: 14%
5 Years:: 8%
3 Years:: 24%
1 Year:: 36%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 9%
3 Years:: 5%
Last Year:: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4,131	4,131	4,131	4,131	4,131	4,131	4,131	4,131	4,131	4,131
	32,912	32,816	35,516	37,380	41,276	50,081	50,616	52,971	54,775	56,225
	40,425	43,346	43,025	53,301	37,574	20,098	34,858	39,612	38,325	30,081
Trade Payables	5,218	7,527	7,225	6,322	8,043	16,676	14,342	15,332	10,504	10,886
	21,081	23,474	25,190	23,843	26,975	29,141	26,657	29,072	29,418	35,472
Total Liabilities	1,03,766	1,11,293	1,15,086	1,24,977	1,17,998	1,20,128	1,30,604	1,41,118	1,37,153	1,36,796
	50,299	58,625	61,373	69,033	67,617	73,676	73,542	72,425	73,326	75,988
Capital Work in Progress	23,275	18,395	16,014	8,753	8,881	4,710	4,891	6,141	7,206	10,552
	2,475	2,629	2,975	133	3,442	3,757	4,185	4,589	4,976	4,339
	15,736	17,024	19,510	23,836	15,334	19,568	27,765	32,721	29,151	23,553
	0	0	0	8,845	8,169	4,771	5,390	8,355	7,610	6,507
Cash & Bank	379	346	288	445	796	786	551	673	967	733
	11,601	14,274	14,926	13,931	13,759	12,859	14,280	16,214	13,917	15,124
Total Assets	1,03,766	1,11,293	1,15,086	1,24,977	1,17,998	1,20,128	1,30,604	1,41,118	1,37,153	1,36,796

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,148	6,301	7,213	-618	23,430	30,987	-5,290	2,911	9,914	19,039
Cash from Investing	-5,467	-6,480	-3,694	-4,261	-3,295	-3,976	-3,371	-4,261	-5,268	-7,899
Cash from Financing	3,302	269	-3,549	5,003	-19,808	-27,398	8,587	1,362	-4,424	-11,403
	-5	-47	-28	125	328	-387	-74	12	222	-263

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65.00	65.00	65.00	65.00	65.00	65.00	65.00	65.00	65.00
	3.01	2.82	2.59	3.21	3.65	3.76	4.54	5.01	7.09
	15.72	16.04	15.86	15.75	17.31	18.10	17.84	18.40	16.87
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	16.28	16.15	16.55	16.05	14.04	13.15	12.63	11.59	11.05

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Credit Rating- Revision

2026-09-03 - Steel Authority of India Limited has informed the Exchange about Credit Rating- Revision

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Steel Authority of India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-27

Cessation

2026-08-27 - Steel Authority of India Limited has informed the Exchange regarding Cessation of Shri Ashish Chatterjee as Non- Executive Director of the company w.e.f. August 24, 2026.

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Steel Authority of India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-21

General Updates

2026-08-21 - Steel Authority of India Limited has informed the Exchange about General Updates- Intimation of AGM fir FY 2025-26

2026-08-21

Record Date

2026-08-21 - Steel Authority of India Limited has informed the Exchange that Record date for the purpose of Dividend is 30-Sep-2026.

2026-08-11

News Verification

2026-08-11 - The Exchange has sought clarification from Steel Authority of India Limited with respect to recent news item captioned Steel Authority of India eyes 5% FPO in FY27 to raise funds for capex push.. The response from the Company is attached.

2026-08-10

Rumour Verification - Regulation 30(11)

2026-08-10 - Steel Authority of India Limited has informed the Exchange about Rumour Clarification - Regulation 30(11)

2026-08-10

News Verification

2026-08-10 - The Exchange has sought clarification from Steel Authority of India Limited with respect to recent news item captioned Steel Authority of India eyes 5% FPO in FY27 to raise funds for capex push.. The response from the Company is awaited.

News

Recent coverage and analyst commentary for SAIL

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