Steel Authority of India

SAIL

NSE

BSE

SectorMetals & Mining

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Company insights, generated from the most recent coverage.

Q1 FY27 PAT surged 139% YoY to ₹1,636 Cr with EBITDA margin expanding 530 bps to 16.7%, signaling strong operational leverage and pricing power.
Exploring FPO and QIP routes for capex funding, indicating management confidence in growth trajectory and capital deployment plans.
Final dividend of ₹2.35/share declared with record date Sept 30, 2026, likely driving short-term accumulation by dividend-seeking investors.

The Quarter story

The two most recent quarterly results, compared side-by-side.

SAIL strengthens profitability and cuts debt, but sales volumes and export shares contract after a mid-year spike.

Borrowings decline from ₹28,741 Cr in Q1 FY26 to ₹21,729 Cr in Q1 FY27, reducing interest costs.

Sales volume contracts from 14.610 MT in Q3 FY26 to 4.163 MT in Q1 FY27, signaling weaker order realization.

Debt-equity ratio drops from 0.51x in Q1 FY26 to 0.36x in Q1 FY27, strengthening the balance sheet.

Export sales share falls from 1.4% in Q4 FY26 to 0.057% in Q1 FY27, highlighting reduced overseas demand.

EBITDA recovers from ₹2,630 Cr in Q3 FY26 to ₹4,356 Cr in Q1 FY27, showing improved operational efficiency.

Saleable steel production eases from 4.9 MT in Q4 FY26 to 4.5 MT in Q1 FY27, pointing to output constraints.

Profit after tax rises from ₹442 Cr in Q3 FY26 to ₹1,636 Cr in Q1 FY27, reflecting stronger bottom-line performance.

Exceptional items turn negative, shifting from ₹0 in Q1 FY26 to -₹144 Cr in Q1 FY27, adding volatility to earnings.

Finished steel consumption grows from 38.3 MT in Q1 FY26 to 41.6 MT in Q1 FY27, indicating steady domestic demand.

Special steels sales share stays flat at 1.7% from Q1 FY26 to Q1 FY27, showing no growth momentum.

About the company

Steel Authority of India Ltd (SAIL) is India's leading steel-making company, producing basic and special steels for domestic and export markets. It operates five integrated steel plants and three special steel plants, primarily in eastern and central India. SAIL manufactures a wide range of products including hot and cold rolled sheets, galvanized sheets, structurals, railway products, plates, and stainless steel. The company has its own research and development center, engineering center, and management training institute. SAIL has undergone significant modernization and expansion, increasing its steel-making capacity to over 21 million tonnes per annum. The company has developed numerous new steel grades and supplies to various national projects. SAIL is majority-owned by the Government of India and has been granted 'Maharatna' status, giving it significant operational and financial autonomy.

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