Steel Authority Of India Limited (SAIL)

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Steel Authority Of India Limited (SAIL) · mywealthgrid

About

Steel Authority Of India Limited (SAIL) operates as an integrated iron and steel producer in the ferrous metals segment. With a market capitalization of ₹70,009 Cr and quarterly revenues ranging ₹26,000–31,000 Cr, it is a major player in India's steel industry. Recent operating margins range from 8–16%, reflecting cyclical exposure tied to commodity steel prices.

Founded: 1972
Face value: ₹10

Market cap

₹72,070 Cr

P/E

16.9×

P/B

1.2×

Dividend yield

1.3%

ROE

5.7%

ROCE

7.6%

Debt / equity

0.53

OPM

10.8%

EPS (TTM)

₹10.3

Book value

₹146.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression: Operating margin fell to 8.38% in Dec 2025, well below the average 10.83%, suggesting vulnerability to commodity input costs — verify raw material and energy pricing dynamics.

Low profitability: ROE of 5.66% significantly constrains shareholder value creation — verify what limits capital efficiency and asset utilization.

Earnings unpredictability: Net profit ranged ₹374–₹1,835 Cr across recent quarters; commodity exposure creates forecasting risk — verify drivers of quarterly swings.

Debt sustainability: While D/E of 0.53 is moderate, debt levels in downturns require verification — confirm interest coverage and refinancing capacity in margin compression scenarios.

Generated analysis · source review pending

Growth drivers

Margin recovery: OPM improved to 15.82% in Jun 2026 from 8.38% in Dec 2025 — verify what's sustaining this recovery (pricing recovery, volume growth, or cost control).

FII inflow acceleration: Foreign institutional holdings increased from 5.01% (Mar 2026) to 7.09% (Jun 2026) — identify what's driving international investor confidence.

Revenue consistency: Quarterly revenues stable at ₹26–31k Cr despite margin volatility — verify whether this reflects steady volumes or offsetting price and cost moves.

Dividend track record: Consistent dividend payments across multiple years (Sep 2025, Sep 2024, Feb 2024) signal cash generation — verify payout sustainability and free cash flow trends through cycles.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹174.5-4%1Y

Quick read

rule-based

Pros

+High promoter holding of 65% with no pledge

Cons

−Low return on equity of 5.1% (3-yr avg)
−Profit declined 4.1% a year over the last 5 years
−Modest revenue growth of 9.9% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 24
Growth: 45
Valuation: 82

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	49,829	58,966	66,974	61,664	69,114	1,03,477	1,04,448	1,05,378	1,02,479	1,10,811
COGS	21,279	27,877	29,687	23,794	27,490	42,611	57,025	54,354	50,997	55,082
Gross profit	28,550	31,089	37,287	37,870	41,623	60,866	47,423	51,024	51,482	55,729
	28,483	26,454	27,302	27,460	28,417	39,107	38,737	39,436	40,349	43,304
	67	4,636	9,984	10,410	13,206	21,760	8,685	11,588	11,133	12,425
OPM %	0.1%	7.9%	14.9%	16.9%	19.1%	21%	8.3%	11%	10.9%	11.2%
Depreciation	2,682	3,066	3,385	3,756	4,103	4,275	4,964	5,278	5,651	5,988
Interest	2,528	2,823	3,155	3,487	2,817	1,698	2,037	2,474	2,793	2,158
	449	415	105	134	919	505	1,208	226	562	226
Profit before tax	-4,716	-527	3,549	3,302	7,206	16,292	2,892	4,062	3,252	4,506
Tax	-1,960	-245	1,201	1,181	3,058	4,048	716	995	880	1,133
Tax %	-41.6%	-46.6%	33.8%	35.8%	42.4%	24.9%	24.8%	24.5%	27.1%	25.1%
	-2,756	-281	2,349	2,121	4,148	12,243	2,177	3,067	2,372	3,373
PAT margin %	-5.5%	-0.5%	3.5%	3.4%	6%	11.8%	2.1%	2.9%	2.3%	3%
EPS (₹)	—	—	5.7	5.1	10	29.6	5.3	7.4	5.7	8.2
EPS adjusted (₹)	-6.7	-0.7	5.7	5.1	10	29.6	5.3	7.4	5.7	8.2
	—	—	8.8%	0%	27.9%	29.5%	28.5%	27%	27.9%	28.8%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	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	4,131
Reserves	40,449	32,912	32,816	35,516	37,380	41,276	50,081	50,616	52,971	54,775	56,225
Minority interest	—	—	—	0	0	0	0	0	0	—	0
	29,903	38,901	42,021	41,434	51,201	35,608	13,386	25,662	36,323	36,934	31,928
	26,965	31,672	36,473	36,872	34,217	36,804	52,512	50,073	47,285	40,531	43,613
Total equity & liabilities	1,01,448	1,07,615	1,15,441	1,17,952	1,26,928	1,17,819	1,20,109	1,30,481	1,40,709	1,36,371	1,35,896
	37,759	50,299	58,625	61,373	69,033	67,617	73,676	68,632	72,425	73,326	75,988
CWIP	29,210	23,275	18,395	16,014	8,753	8,881	4,017	4,891	6,141	7,206	10,552
Investments	2,116	2,475	2,629	2,976	3,242	3,443	3,758	9,097	4,590	4,977	4,340
	32,363	31,565	35,792	37,589	45,900	37,878	38,658	47,861	57,553	50,863	45,016
Total assets	1,01,448	1,07,615	1,15,441	1,17,952	1,26,928	1,17,819	1,20,109	1,30,481	1,40,709	1,36,371	1,35,896

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Bhilai Steel Plant	31,872.59	2,832.15	33,878.87	10,040.59	23,838.28	11.88
Bokaro Steel Plant	27,407.02	1,415.15

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55.7%	61.4%	60.2%	58.8%	45.4%	48.4%	50.2%	50.3%
EBITDA margin %	14.9%	16.6%	18.4%	20.6%	7.7%	10.6%	10.4%	10.8%
EBIT margin %	9.9%	10.5%	12.5%	16.5%	2.9%	5.6%	4.9%	5.4%
PAT margin %	3.5%	3.4%	6%	11.8%	2.1%	2.9%	2.3%	3%
Working capital
Receivable days	25	52	43	17	19	29	27	21
Inventory days	240	366	260	207	178	220	209	156
Payable days	89	97	107	145	92	103	75	72
NWC days	176	321	196	79	105	146	161	105
Leverage
Current ratio	0.78	0.91	0.78	0.86	0.77	0.9	0.91	0.82
Debt to EBITDA	4.15	5.01	2.8	0.63	3.19	3.26	3.47	2.66
Debt to equity	1.05	1.23	0.78	0.25	0.47	0.64	0.63	0.53
Interest coverage	2.2	2.1	3.4	10.6	2	2.8	2.1	3.2
Asset turnover	0.57	0.49	0.59	0.86	0.8	0.75	0.75	0.82
Return ratios
Return on assets %	2%	1.7%	3.5%	10.2%	1.7%	2.2%	1.7%	2.5%
Return on capital employed %	9.6%	9.3%	12.3%	23.4%	5%	8.2%	6.6%	7.6%
Return on equity %	5.9%	5.1%	9.1%	22.6%	4%	5.4%	4%	5.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65%	65%	65%	65%	65%	65%	65%	65%	65%	65%	65%	65%
	3.68%	4.34%	3.18%	3%	2.82%	2.59%	3.2%	3.65%	3.76%	4.53%	5.01%	7.09%
	14.61%	15.46%	15.86%	15.72%	16.03%	15.87%	15.75%	17.31%	18.09%	17.84%	18.41%	16.86%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	16.71%	15.2%	15.96%	16.28%	16.15%	16.54%	16.05%	14.04%	13.15%	12.63%	11.58%	11.05%
No. of shareholders	—	—	—	—	—	—	—	—	17,98,687	17,07,510	15,72,361	15,09,426

Promoter holding up 0 percentage points since Sep 2023.

2 deals · 28 Mar 2023 – 28 Mar 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Mar 2023	SANTOSH BHAJANKA	Block	BSE	Buy	20,00,000	₹81.00	₹16.20 Cr
28 Mar 2023	SAJJAN BHAJANKA	Block	BSE	Sell	20,00,000	₹81.00	₹16.20 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Ashok Kumar PandaExecutive Director-Chairperson
Mr. Abhijit NarendraNon-Executive - Nominee Director
Mr. Krishna Kumar SinghExecutive Director
Mr. Alok VermaExecutive Director
Mr. Manish Raj GuptaExecutive Director
Mr. Ashish ChatterjeeNon-Executive - Nominee Director
Mr. Pranoy RoyNon-Executive - Independent Director
Mr. SURAJIT MISHRAExecutive Director
Mr. CHITTA RANJAN MOHAPATRAExecutive Director
Mr. Priya RanjanExecutive Director
Mr. T.N.NatarajanExecutive Director

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹181.5 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹177.9	-4.9	-2.7%	₹177.9	37,667	-451	553	4700
23 Nov 2026	₹179.8	-2.9	-1.6%	₹179.8	54	0	7	4700
29 Dec 2026	₹181.4	-3.1	-1.7%	₹181.4	1	+1	2	4700

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

29

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	150

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

107

across 19 fund houses

Held by these funds

2.17%

of the company's equity

All mutual funds

8.74%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

107 schemes · 19 fund houses

		Shares
Arbitrage FundNEW	SBI Mutual Fund	1.22 Cr	238.11	0.5%	0.296%	—
Arbitrage Fund	Nippon India Mutual Fund	1.05 Cr	205.3	1.17%	0.255%	+10.25 L
Multi Asset Allocation Fund	SBI Mutual Fund	61.73 L	120.38	0.58%	0.149%	-0
Mid Cap FundNEW	ICICI Prudential Mutual Fund	54.53 L	106.33	1.27%	0.132%	—
Commodities Fund	ICICI Prudential Mutual Fund	48.81 L	95.18	2.23%	0.118%	-0
Arbitrage Fund	Axis Mutual Fund	44.7 L	87.16	0.82%	0.108%	-3.29 L
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	39.93 L	78.59	3.49%	0.097%	+76,210
Active Momentum Fund	ICICI Prudential Mutual Fund	25.43 L	49.6	2.29%	0.062%	+58,000

1–8 of 107

1 / 14

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

43 announcementsExport CSV

1 Oct 2026, 3:27 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55.7%	61.4%	60.2%	58.8%	45.4%	48.4%	50.2%	50.3%
EBITDA margin %	14.9%	16.6%	18.4%	20.6%	7.7%	10.6%	10.4%	10.8%
EBIT margin %	9.9%	10.5%	12.5%	16.5%	2.9%	5.6%	4.9%	5.4%
PAT margin %	3.5%	3.4%	6%	11.8%	2.1%	2.9%	2.3%	3%
Working capital
Receivable days	25	52	43	17	19	29	27	21
Inventory days	240	366	260	207	178	220	209	156
Payable days	89	97	107	145	92	103	75	72
NWC days	176	321	196	79	105	146	161	105
Leverage
Current ratio	0.78	0.91	0.78	0.86	0.77	0.9	0.91	0.82
Debt to EBITDA	4.15	5.01	2.8	0.63	3.19	3.26	3.47	2.66
Debt to equity	1.05	1.23	0.78	0.25	0.47	0.64	0.63	0.53
Interest coverage	2.2	2.1	3.4	10.6	2	2.8	2.1	3.2
Asset turnover	0.57	0.49	0.59	0.86	0.8	0.75	0.75	0.82
Return ratios
Return on assets %	2%	1.7%	3.5%	10.2%	1.7%	2.2%	1.7%	2.5%
Return on capital employed %	9.6%	9.3%	12.3%	23.4%	5%	8.2%	6.6%	7.6%
Return on equity %	5.9%	5.1%	9.1%	22.6%	4%	5.4%	4%	5.6%

Calls	Strike	Puts
0	0	0	₹0.0	150

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jindal Steel LimitedJINDALSTELJINDALSTEL	₹1,12,262 Cr	₹1,34,300 Cr	₹56,413 Cr	₹9,314 Cr	18.2%	₹2,718 Cr	6.3%	9.2%	6.9%	1
Steel Authority Of India LimitedSAILSAIL	₹72,070 Cr	₹1,03,998 Cr	₹1,11,135 Cr	₹13,384 Cr	10.8%	₹4,272 Cr	3%	7.6%	5.7%	105
Jindal Stainless LimitedJSLJSL	₹60,404 Cr	₹67,745 Cr	₹44,026 Cr	₹5,645 Cr	13%	₹3,249 Cr	7.4%	19.6%	17.5%	42
Sarda Energy & Minerals LimitedSARDAENSARDAEN	₹17,435 Cr	₹20,030 Cr	₹5,665 Cr	₹1,824 Cr	31.4%	₹1,130 Cr	19.5%	17.3%	16.2%	96
Vedanta Iron And Steel LimitedVISLVISL	₹12,189 Cr	₹12,189 Cr	₹0 Cr	₹-0 Cr	—	₹-0 Cr	—	—	—	—
Nmdc Steel LimitedNSLNISPNSLNISP	₹12,001 Cr	₹16,603 Cr	₹13,938 Cr	₹1,510 Cr	11.1%	₹84 Cr	0.4%	3.3%	0.4%	-83
Sandur Manganese & Iron Ores LimitedSANDUMASANDUMA	₹8,637 Cr	₹9,631 Cr	₹5,328 Cr	₹1,253 Cr	23.8%	₹719 Cr	12.9%	26.6%	22.4%	35
Jai Balaji Industries LimitedJAIBALAJIJAIBALAJI	₹5,631 Cr	₹6,189 Cr	₹5,786 Cr	₹522 Cr	13.7%	₹293 Cr	8.8%	40.2%	30.7%	73
Prakash Industries LimitedPRAKASHPRAKASH	₹2,126 Cr	—	₹0 Cr	—	—	₹386 Cr	—	—	—	—
Manaksia Steels LimitedMANAKSTEELMANAKSTEEL	₹713 Cr	₹862 Cr	₹1,241 Cr	₹99 Cr	6.8%	₹56 Cr	3.5%	22%	13%	62
Scan Steels LimitedSCANSTLSCANSTL	₹293 Cr	₹354 Cr	₹789 Cr	₹45 Cr	5.8%	₹22 Cr	2.7%	7.6%	5.2%	112
KIC Metaliks LtdKAJARIRKAJARIR	₹103 Cr	₹260 Cr	₹514 Cr	₹64 Cr	12.5%	₹39 Cr	7.5%	36%	27.6%	67

Date	Category	Subject	Filing
1 Oct 2026, 3:27 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
28 Sept 2026, 5:48 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
19 Sept 2026, 5:05 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
17 Sept 2026, 4:33 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
3 Sept 2026, 9:16 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
2 Sept 2026, 4:23 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
2 Sept 2026, 3:07 pm	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
1 Sept 2026, 4:52 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,043	2,160	6,158	7,215	-618	23,430	30,987	-5,290	2,911	10,023	19,039
	-4,805	-5,467	-6,469	-3,694	-4,261	-3,413	-3,976	-3,371	-4,261	-5,377	-7,899
	743	3,302	269	-3,549	5,003	-19,690	-27,398	8,587	1,362	-4,424	-11,403
Net cash flow	—	—	—	-28	125	328	-387	-74	12	222	-263
Free cash flow	-2,609	-3,294	-600	3,234	-5,372	19,758	27,321	-9,221	-1,800	3,802	10,281
CFO / Operating profit %	—	—	132.8%	72.3%	-6.1%	183.9%	145.2%	-65.8%	26.1%	94.2%	158.7%

Steel Authority Of India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

29

Fund holders

Documents

Announcements

Events

Announcements

3

29

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

1

28

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Alloy Steel Plant · revenue

Steel Authority Of India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain29

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain29

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Upcoming and recent1

Dividends28

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Alloy Steel Plant · revenue

3

29

3

29

1

28

1