Steel Authority Of India Ltd.

•

sail.co.inBSE: 500113NSE: SAIL

Market Cap₹ 76,931 Cr.

Current Price

High / Low₹ 210 / 124

Stock P/E18.4

Book Value₹ 145

Price to Book1.07

Dividend Yield1.26 %

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 138.7% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.92x)
Operating margins have improved to 10.6% from 7.5%
Company has been maintaining a healthy dividend payout of 30.0%

CONS

Company has a low return on capital employed of 6.9%
Company has a low return on equity of 4.9% over last 3 years
A large part of profit comes from other income (26.6% of PBT)
Contingent liabilities are large at 68.3% of net worth
Company has delivered a poor profit growth of -3.4% 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	1310.35	12.93	320440.06	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	188.55	21.33	235375.56	2.12	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	186.25	18.01	76931.03	1.26	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2607.95	29.79	68795.28	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	782.80	19.87	64535.57	0.51	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2167.50	48.97	60182.46	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1073.35	26.68	29960.62	0.42	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	RATNAMANI	2862.55	46.35	20064.19	0.35	107.03	-15.82	971.63	-15.63	18.01	16.69
9.	JINDALSAW	311.85	30.52	19943.06	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
10.	SARDAEN	546.75	17.05	19266.45	0.37	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	253.20	21.14	17046.41	0.39	222.37	2.75	1750.47	32.29	20.20	19.36
12.	USHAMART	498.25	29.95	15183.77	0.75	142.04	40.90	1033.00	16.44	20.17	20.62

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	24,358	29,714	23,345	27,958	23,998	24,675	24,490	29,316	25,921	26,704	27,371	30,813	26,246
	22,710	25,845	21,205	24,483	21,778	21,770	22,465	25,835	23,157	24,178	25,073	26,407	24,146
Operating Profit	1,647	3,869	2,140	3,475	2,219	2,904	2,025	3,481	2,765	2,526	2,298	4,406	2,099
OPM %	6.76%	13.02%	9.17%	12.43%	9.25%	11.77%	8.27%	11.87%	10.67%	9.46%	8.40%	14.30%	8.00%
	442	-241	255	-149	-112	269	393	271	161	-35	331	26	348
Interest	613	605	614	642	691	758	679	664	595	484	547	532	493
Depreciation	1,275	1,326	1,321	1,356	1,402	1,304	1,420	1,523	1,441	1,453	1,515	1,576	1,560
Profit before Tax	202	1,696	461	1,329	14	1,113	318	1,564	890	553	568	2,324	2,159
Tax %	25.88%	26.86%	28.07%	23.89%	25.11%	25.08%	60.44%	24.68%	22.96%	22.81%	22.17%	27.72%	24.22%
Net Profit	150	1,241	331	1,011	11	834	126	1,178	685	427	442	1,680	1,636
	0.36	3.00	0.80	2.45	0.03	2.02	0.30	2.85	1.66	1.03	1.07	4.07	3.96

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	44,452	57,558	66,967	61,661	69,110	1,03,473	1,04,447	1,05,375	1,02,478	1,10,810	1,11,134
	44,414	52,941	57,233	51,462	56,382	82,151	96,423	94,243	91,849	98,816	99,805
Operating Profit	38	4,618	9,734	10,199	12,728	21,322	8,024	11,132	10,629	11,995	11,329
OPM %	0.09%	8.02%	14.54%	16.54%	18.42%	20.61%	7.68%	10.56%	10.37%	10.82%	10.19%
	319	511	143	213	1,070	689	1,613	307	822	483	670
Interest	2,528	2,823	3,155	3,487	2,817	1,698	2,037	2,474	2,793	2,158	2,056
Depreciation	2,680	3,065	3,385	3,755	4,102	4,274	4,963	5,277	5,650	5,985	6,104
Profit before Tax	-4,851	-759	3,338	3,171	6,879	16,039	2,637	3,688	3,009	4,334	5,603
Tax %	41.59%	36.53%	34.72%	36.24%	44.03%	25.09%	27.83%	25.89%	28.61%	25.39%	25.32%
Net Profit	-2,833	-482	2,179	2,022	3,850	12,015	1,903	2,733	2,148	3,233	4,184
EPS	-6.86	-1.17	5.27	4.89	9.32	29.09	4.61	6.62	5.20	7.83	—
Dividend Payout %	0.00%	0.00%	9.48%	0.00%	30.04%	30.08%	32.56%	30.23%	30.77%	30.02%	—

COMPOUNDED SALES GROWTH

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

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -3%
3 Years:: 19%

STOCK PRICE CAGR

10 Years:: 14%
5 Years:: 8%
3 Years:: 22%
1 Year:: 42%

RETURN ON EQUITY

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

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	31,879	31,583	34,021	35,647	39,364	47,887	48,009	50,000	51,526	54,065
	40,425	43,346	43,025	53,224	37,496	20,060	34,816	39,559	38,285	30,030
Trade Payables	5,219	7,540	7,258	6,320	8,042	16,673	14,339	15,332	10,499	10,920
	20,880	23,409	25,105	23,768	26,878	29,003	26,540	28,910	29,259	35,007
Total Liabilities	1,02,534	1,10,009	1,13,539	1,23,090	1,15,911	1,17,753	1,27,833	1,37,932	1,33,699	1,34,153
	50,285	58,611	61,358	69,018	67,599	73,656	73,523	72,407	73,287	75,945
Capital Work in Progress	23,275	18,395	16,014	8,752	8,878	4,710	4,891	6,141	7,206	10,552
	1,395	1,491	1,585	1,585	1,595	1,624	1,673	1,694	1,759	1,900
	15,711	16,997	19,442	23,747	15,272	19,530	27,716	32,646	29,072	23,456
	0	0	0	8,812	8,139	4,737	5,362	8,309	7,557	6,541
Cash & Bank	289	254	219	363	681	648	398	542	905	645
	11,578	14,261	14,922	10,813	13,748	12,848	14,270	16,195	13,912	15,113
Total Assets	1,02,534	1,10,009	1,13,539	1,23,090	1,15,911	1,17,753	1,27,833	1,37,932	1,33,699	1,34,153

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,090	6,117	7,266	-651	23,396	30,964	-5,406	2,933	9,888	19,007
Cash from Investing	-5,439	-6,469	-3,756	-4,236	-3,273	-3,975	-3,234	-4,280	-5,233	-7,874
Cash from Financing	3,302	269	-3,591	5,006	-19,808	-27,398	8,587	1,354	-4,384	-11,409
	-12	-41	-45	119	315	-409	-53	7	272	-276

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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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Name

JSWSTEEL

1310.35

12.93

320440.06

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

188.55

21.33

235375.56

2.12

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

186.25

18.01

76931.03

1.26

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2607.95

29.79

68795.28

0.19

1047.88

200.11

4081.12

14.91

23.94

32.17

JSL

782.80

19.87

64535.57

0.51

768.66

7.56

11278.54

10.50

19.19

12.09

APLAPOLLO

2167.50

48.97

60182.46

0.39

263.11

10.94

5606.71

12.07

31.83

7.34

SHYAMMETL

1073.35

26.68

29960.62

0.42

3507.30

1106.63

54550.90

1133.35

13.88

14.03

RATNAMANI

2862.55

46.35

20064.19

0.35

107.03

-15.82

971.63

-15.63

18.01

16.69

JINDALSAW

311.85

30.52

19943.06

0.64

90.79

-78.15

4452.31

9.00

10.38

8.79

SARDAEN

546.75

17.05

19266.45

0.37

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

253.20

21.14

17046.41

0.39

222.37

2.75

1750.47

32.29

20.20

19.36

USHAMART

498.25

29.95

15183.77

0.75

142.04

40.90

1033.00

16.44

20.17

20.62

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

24,358

29,714

23,345

27,958

23,998

24,675

24,490

29,316

25,921

26,704

27,371

30,813

26,246

22,710

25,845

21,205

24,483

21,778

21,770

22,465

25,835

23,157

24,178

25,073

26,407

24,146

Operating Profit

1,647

3,869

2,140

3,475

2,219

2,904

2,025

3,481

2,765

2,526

2,298

4,406

2,099

OPM %

6.76%

13.02%

9.17%

12.43%

9.25%

11.77%

8.27%

11.87%

10.67%

9.46%

8.40%

14.30%

8.00%

442

-241

255

-149

-112

269

393

271

161

-35

331

348

Interest

613

605

614

642

691

758

679

664

595

484

547

532

493

Depreciation

1,275

1,326

1,321

1,356

1,402

1,304

1,420

1,523

1,441

1,453

1,515

1,576

1,560

Profit before Tax

202

1,696

461

1,329

1,113

318

1,564

890

553

568

2,324

2,159

Tax %

25.88%

26.86%

28.07%

23.89%

25.11%

25.08%

60.44%

24.68%

22.96%

22.81%

22.17%

27.72%

24.22%

Net Profit

150

1,241

331

1,011

834

126

1,178

685

427

442

1,680

1,636

0.36

3.00

0.80

2.45

0.03

2.02

0.30

2.85

1.66

1.03

1.07

4.07

3.96

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

44,452

57,558

66,967

61,661

69,110

1,03,473

1,04,447

1,05,375

1,02,478

1,10,810

1,11,134

44,414

52,941

57,233

51,462

56,382

82,151

96,423

94,243

91,849

98,816

99,805

Operating Profit

4,618

9,734

10,199

12,728

21,322

8,024

11,132

10,629

11,995

11,329

OPM %

0.09%

8.02%

14.54%

16.54%

18.42%

20.61%

7.68%

10.56%

10.37%

10.82%

10.19%

319

511

143

213

1,070

689

1,613

307

822

483

670

Interest

2,528

2,823

3,155

3,487

2,817

1,698

2,037

2,474

2,793

2,158

2,056

Depreciation

2,680

3,065

3,385

3,755

4,102

4,274

4,963

5,277

5,650

5,985

6,104

Profit before Tax

-4,851

-759

3,338

3,171

6,879

16,039

2,637

3,688

3,009

4,334

5,603

Tax %

41.59%

36.53%

34.72%

36.24%

44.03%

25.09%

27.83%

25.89%

28.61%

25.39%

25.32%

Net Profit

-2,833

-482

2,179

2,022

3,850

12,015

1,903

2,733

2,148

3,233

4,184

EPS

-6.86

-1.17

5.27

4.89

9.32

29.09

4.61

6.62

5.20

7.83

—

Dividend Payout %

0.00%

9.48%

0.00%

30.04%

30.08%

32.56%

30.23%

30.77%

30.02%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

4,131

31,879

31,583

34,021

35,647

39,364

47,887

48,009

50,000

51,526

54,065

40,425

43,346

43,025

53,224

37,496

20,060

34,816

39,559

38,285

30,030

Trade Payables

5,219

7,540

7,258

6,320

8,042

16,673

14,339

15,332

10,499

10,920

20,880

23,409

25,105

23,768

26,878

29,003

26,540

28,910

29,259

35,007

Total Liabilities

1,02,534

1,10,009

1,13,539

1,23,090

1,15,911

1,17,753

1,27,833

1,37,932

1,33,699

1,34,153

50,285

58,611

61,358

69,018

67,599

73,656

73,523

72,407

73,287

75,945

Capital Work in Progress

23,275

18,395

16,014

8,752

8,878

4,710

4,891

6,141

7,206

10,552

1,395

1,491

1,585

1,595

1,624

1,673

1,694

1,759

1,900

15,711

16,997

19,442

23,747

15,272

19,530

27,716

32,646

29,072

23,456

8,812

8,139

4,737

5,362

8,309

7,557

6,541

Cash & Bank

289

254

219

363

681

648

398

542

905

645

11,578

14,261

14,922

10,813

13,748

12,848

14,270

16,195

13,912

15,113

Total Assets

1,02,534

1,10,009

1,13,539

1,23,090

1,15,911

1,17,753

1,27,833

1,37,932

1,33,699

1,34,153

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

2,090

6,117

7,266

-651

23,396

30,964

-5,406

2,933

9,888

19,007

Cash from Investing

-5,439

-6,469

-3,756

-4,236

-3,273

-3,975

-3,234

-4,280

-5,233

-7,874

Cash from Financing

3,302

269

-3,591

5,006

-19,808

-27,398

8,587

1,354

-4,384

-11,409

-12

-41

-45

119

315

-409

-53

272

-276

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

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

16.28

16.15

16.55

16.05

14.04

13.15

12.63

11.59

11.05

Steel Authority Of India Ltd.

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Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

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Documents

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Steel Authority Of India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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