SAIL

Steel Authority of India Limited

India's largest state-owned integrated steelmaker — crude and finished steel

Commodities›Metals & Mining›Ferrous Metals›Iron & Steel

sail.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹170.95
Market cap
70,616 Cr
Stock P/E
16.5
P/B
1.17
Dividend yield
0.9%
ROE (FY26)
5.6%
ROCE (FY26)
7.2%
Operating margin (FY26)
5.4%
Debt / equity (FY26)
0.53
OCF / EBITDA (FY26)
158.7%
OCF / EBITDA (3Y)
94.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

SAIL (Steel Authority of India) makes crude steel and finished steel products, including flat and long products, semis and rail products, at plants across India.

Company snapshot

4thBy market cap

Ranked among 13 companies in Iron & Steel.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 33.3% of revenue

SegmentRevenue shareRevenuePBTAssets
Alloy Steel Plant
1.3%
930 Cr-17 Cr—
Bhilai Steel Plant
33.3%
24,337 Cr2,847 Cr—
Bokaro Steel Plant
22.3%
16,289 Cr-89 Cr—
Durgapur Steel Plant
12.5%
9,125 Cr391 Cr—
IISCO Steel Plant
12.2%
8,926 Cr273 Cr—
Others
1.7%
1,212 Cr393 Cr—
Rourkela Steel Plant
24.5%
17,889 Cr460 Cr—
Salem Steel Plant
2.0%
1,492 Cr-219 Cr—
Visvesaraya Iron & Steel Plant
0.2%
152 Cr-31 Cr—

Shares add up to 110% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓95% of operating profit came in as cash over the last three years — profits are backed by real cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales29,712 Cr23,349 Cr27,959 Cr23,998 Cr24,675 Cr24,490 Cr29,316 Cr25,922 Cr26,704 Cr27,371 Cr30,813 Cr26,246 Cr
Operating expenses (approx.)25,837 Cr21,206 Cr24,476 Cr21,778 Cr21,762 Cr22,460 Cr25,832 Cr23,153 Cr24,176 Cr25,077 Cr26,405 Cr22,093 Cr
EBITDA3,875 Cr2,142 Cr3,483 Cr2,220 Cr2,913 Cr2,030 Cr3,484 Cr2,769 Cr2,528 Cr2,294 Cr4,409 Cr4,153 Cr
OPM %13.0%9.2%12.5%9.3%11.8%8.3%11.9%10.7%9.5%8.4%14.3%15.8%
Other income146 Cr144 Cr313 Cr177 Cr167 Cr234 Cr298 Cr162 Cr206 Cr175 Cr352 Cr206 Cr
Interest605 Cr614 Cr642 Cr691 Cr758 Cr680 Cr664 Cr595 Cr484 Cr547 Cr532 Cr493 Cr
Depreciation1,327 Cr1,321 Cr1,356 Cr1,402 Cr1,304 Cr1,421 Cr1,524 Cr1,441 Cr1,453 Cr1,516 Cr1,577 Cr1,560 Cr
Profit before tax1,770 Cr563 Cr1,441 Cr98 Cr1,173 Cr323 Cr1,657 Cr968 Cr556 Cr480 Cr2,502 Cr2,187 Cr
Tax %26.2%24.8%21.9%16.6%23.5%56.1%24.5%23.1%24.7%22.0%26.6%24.8%
Net profit1,306 Cr423 Cr1,126 Cr82 Cr897 Cr142 Cr1,251 Cr745 Cr419 Cr374 Cr1,835 Cr1,644 Cr
EPS (₹)₹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 (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales49,829 Cr58,966 Cr66,974 Cr61,664 Cr69,114 Cr1,03,477 Cr1,04,448 Cr1,05,378 Cr1,02,479 Cr1,10,811 CrSign in free for the trailing twelve months
Operating expenses (approx.)49,762 Cr54,331 Cr57,212 Cr51,448 Cr56,375 Cr82,135 Cr96,408 Cr94,229 Cr91,833 Cr98,811 CrSign in free for the trailing twelve months
EBITDA67 Cr4,636 Cr9,762 Cr10,216 Cr12,739 Cr21,342 Cr8,039 Cr11,149 Cr10,646 Cr12,000 CrSign in free for the trailing twelve months
OPM %0.1%7.9%14.6%16.6%18.4%20.6%7.7%10.6%10.4%10.8%Sign in free for the trailing twelve months
Other income449 Cr415 Cr495 Cr906 Cr861 Cr859 Cr950 Cr1,067 Cr875 Cr894 CrSign in free for the trailing twelve months
Interest2,528 Cr2,823 Cr3,155 Cr3,487 Cr2,817 Cr1,698 Cr2,037 Cr2,474 Cr2,793 Cr2,158 CrSign in free for the trailing twelve months
Depreciation2,682 Cr3,066 Cr3,385 Cr3,756 Cr4,103 Cr4,275 Cr4,964 Cr5,278 Cr5,651 Cr5,988 CrSign in free for the trailing twelve months
Profit before tax-4,716 Cr-527 Cr3,549 Cr3,302 Cr7,206 Cr16,292 Cr2,892 Cr4,062 Cr3,252 Cr4,506 CrSign in free for the trailing twelve months
Tax %41.6%46.6%33.8%35.8%42.4%24.8%24.8%24.5%27.1%25.1%Sign in free for the trailing twelve months
Net profit-2,756 Cr-281 Cr2,349 Cr2,121 Cr4,148 Cr12,243 Cr2,177 Cr3,067 Cr2,372 Cr3,373 CrSign in free for the trailing twelve months
EPS (₹)₹-6.67₹-0.68₹5.69₹5.13₹10.04₹29.64₹5.27₹7.42₹5.74₹8.17Sign in free for the trailing twelve months
Dividend payout %————10.0%25.0%61.7%20.2%17.4%19.6%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital4,131 Cr4,131 Cr4,131 Cr4,131 Cr4,131 Cr4,131 Cr4,131 Cr4,131 Cr4,131 Cr4,131 Cr
Reserves32,912 Cr32,816 Cr35,516 Cr37,380 Cr41,276 Cr50,081 Cr50,616 Cr52,971 Cr54,775 Cr56,225 Cr
Borrowings38,901 Cr42,021 Cr41,434 Cr51,201 Cr35,576 Cr13,386 Cr25,662 Cr36,323 Cr36,934 Cr31,928 Cr
Other liabilities31,672 Cr36,473 Cr36,872 Cr34,217 Cr38,263 Cr52,512 Cr50,073 Cr47,285 Cr40,531 Cr43,613 Cr
Total liabilities1,07,615 Cr1,15,441 Cr1,17,952 Cr1,26,928 Cr1,19,246 Cr1,20,109 Cr1,30,481 Cr1,40,709 Cr1,36,371 Cr1,35,896 Cr
Fixed assets (net)48,777 Cr57,170 Cr59,922 Cr65,384 Cr64,133 Cr68,383 Cr67,111 Cr65,415 Cr65,061 Cr64,710 Cr
CWIP23,275 Cr18,395 Cr16,014 Cr8,753 Cr8,881 Cr4,017 Cr4,891 Cr6,141 Cr7,206 Cr10,552 Cr
Investments2,475 Cr2,629 Cr2,976 Cr3,242 Cr3,442 Cr7,592 Cr9,097 Cr4,590 Cr4,977 Cr4,340 Cr
Loans & advances——54 Cr50 Cr50 Cr43 Cr35 Cr28 Cr23 Cr21 Cr
Inventories15,736 Cr17,024 Cr19,510 Cr23,836 Cr15,334 Cr19,608 Cr27,765 Cr32,721 Cr29,151 Cr23,553 Cr
Trade receivables2,935 Cr3,871 Cr4,497 Cr8,845 Cr7,154 Cr4,771 Cr5,390 Cr8,355 Cr7,610 Cr6,507 Cr
Cash & bank141 Cr94 Cr66 Cr191 Cr518 Cr132 Cr57 Cr69 Cr292 Cr29 Cr
Other assets14,276 Cr16,258 Cr14,913 Cr16,627 Cr19,733 Cr15,564 Cr16,135 Cr23,388 Cr22,051 Cr26,185 Cr
Total assets1,07,615 Cr1,15,441 Cr1,17,952 Cr1,26,928 Cr1,19,246 Cr1,20,109 Cr1,30,481 Cr1,40,709 Cr1,36,371 Cr1,35,896 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity2,160 Cr6,183 Cr7,215 Cr-618 Cr23,430 Cr30,987 Cr-5,290 Cr2,911 Cr10,023 Cr19,039 Cr
Cash from investing-5,467 Cr-6,499 Cr-3,694 Cr-4,261 Cr-3,413 Cr-3,976 Cr-3,371 Cr-4,261 Cr-5,377 Cr-7,899 Cr
Cash from financing3,302 Cr269 Cr-3,549 Cr5,003 Cr-19,690 Cr-27,398 Cr8,587 Cr1,362 Cr-4,424 Cr-11,403 Cr
Net cash flow-5 Cr-47 Cr-28 Cr125 Cr328 Cr-387 Cr-74 Cr12 Cr222 Cr-263 Cr
Free cash flow (OCF − Capex)-3,294 Cr-574 Cr3,234 Cr-5,372 Cr19,758 Cr27,321 Cr-9,221 Cr-1,800 Cr3,802 Cr10,281 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-2.9%2.9%8.3%7.3%12.4%26.6%6.1%7.0%6.3%7.2%
ROE %-7.4%-0.8%5.9%5.1%9.1%22.6%4.0%5.4%4.0%5.6%
Debtor days21242452381719292721
Inventory days271232219296240166163207216193
Days payable90102817911014484977889
Cash conversion cycle2021531622701684097139165125
OCF / EBITDA %n.m.133.4%73.9%-6.0%183.9%145.2%-65.8%26.1%94.1%158.7%
OCF / EBITDA % (3 years)——107.6%51.9%91.8%121.5%116.6%70.6%25.6%94.6%
Debt / equity1.051.141.051.230.780.250.470.640.630.53
Current ratio0.550.680.780.910.690.730.770.900.910.82
Net debt / EBITDA577.739.044.244.992.750.623.183.253.442.66