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Swing Capital

Steel Authority of India Ltd

NSE: SAIL BSE: 500113Metal

Steel Authority of India Limited (SAIL) is one of the largest steel-making companies in India and one of the Maharatnas of the countrys Central Public Sector Enterprises. SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products.(Source : Company Web-Site)

₹190
52W: ₹118 — ₹210
PE 21.3 · Book ₹141 · +35% vs book
Market Cap₹78,521 Cr
Stock P/E21.3Price to Earnings
ROCE7.84%Return on Capital
ROE6.48%Return on Equity
Div. Yield0.83%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 30.3%

Weaknesses

  • −The company has delivered a poor sales growth of 9.90% over past five years.
  • −Company has a low return on equity of 5.67% over last 3 years.
  • −Contingent liabilities of Rs.40,112 Cr.
  • −Company might be capitalizing the interest cost

Shareholding Pattern

Promoters65%
FIIs5.01%
DIIs18.4%
Public11.58%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters65%65%65%65%65%65%65%65%
FIIs3.01%2.82%▼0.22.59%▼0.23.21%▲0.63.65%▲0.43.76%▲0.14.54%▲0.85.01%▲0.5
DIIs15.72%16.04%▲0.315.86%▼0.215.75%▼0.117.3%▲1.618.1%▲0.817.84%▼0.318.4%▲0.6
Public16.27%16.15%▼0.116.55%▲0.416.05%▼0.514.03%▼2.013.14%▼0.912.63%▼0.511.58%▼1.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales23,34527,95823,99824,67524,49029,31625,92126,70427,37130,813
Expenses21,20524,48321,77821,77022,46525,83523,15724,17825,07326,407
Operating Profit2,1403,4752,2192,9042,0253,4812,7652,5262,2984,406
OPM %9%12%9%12%8%12%11%9%8%14%
Net Profit3311,011118341261,1786854274421,680
EPS ₹0.82.450.032.020.32.851.661.031.074.07

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,10,810Cr, up 8.1% YoY. OPM at 11%.

Debt Position

Borrowings at ₹31,922Cr. Debt-to-equity ratio: 0.59x. Moderate leverage.

Capex Cycle

CWIP at ₹10,552Cr (14% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 18.4% (+4.77pp change). FIIs: 5.01% (+1.19pp change). Promoters hold 65%.

Margin & Efficiency

ROCE improving from 5% (Mar 2015) to 8% (Mar 2026). Working capital days: -28.

Valuation

PE 21.3x with 7.84% ROCE. Price is 35% above book value of ₹141. Dividend yield: 0.83%.

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