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Swing Capital

S.A.L Steel Ltd

NSE: SALSTEEL BSE: 532604Metal

S.A.L Steel Ltd (SALSTEEL) is a Metal company listed on NSE: SALSTEEL | BSE: 532604. With a market cap of ₹885 Cr and ROCE of 7.05%, ROE of 5.62%, it operates in the Indian Metal sector.

₹61.2
52W: ₹14.4 — ₹63.4
PE 0 · Book ₹3.01 · +1933% vs book
Market Cap₹885 Cr
Stock P/E—Price to Earnings
ROCE7.05%Return on Capital
ROE5.62%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Promoter holding has increased by 9.51% over last quarter.
  • +Company's working capital requirements have reduced from 25.2 days to 18.8 days

Weaknesses

  • −Stock is trading at 20.0 times its book value
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 5.94% over past five years.
  • −Company has a low return on equity of 1.44% over last 3 years.
  • −Earnings include an other income of Rs.16.1 Cr.

Shareholding Pattern

Promoters70.98%
FIIs0%
DIIs0%
Public29.01%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.56%50.56%50.56%50.56%50.56%50.56%61.47%▲10.970.98%▲9.5
FIIs0%0.07%▲0.10.05%▼0.00%▼0.10.15%▲0.10%▼0.10%0%
DIIs0%0%0%0%0%0%0%0%
Public49.43%49.36%▼0.149.38%▲0.049.44%▲0.149.29%▼0.149.44%▲0.138.53%▼10.929.01%▼9.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales157129.53139.46110.71123.52193.82116.94127.6865.732.2
Expenses151.23127.26130.16104.73117.65181.73117.0913352.762.23
Operating Profit5.772.279.35.985.8712.09-0.15-5.3212.97-0.03
OPM %3.68%1.75%6.67%5.4%4.75%6.24%-0.13%-4.17%19.73%-1.36%
Net Profit0.14-2.482.70.160.06-0.68-5.97-9.683.736.63
EPS ₹0.02-0.290.320.020.01-0.08-0.7-1.140.440.61

AI Insights

Revenue Trend

TTM revenue at ₹313Cr, down 42.5% YoY. OPM at 2%.

Debt Position

Borrowings at ₹198Cr. Debt-to-equity ratio: N/Ax. High leverage — monitor closely.

Capex Cycle

CWIP at ₹21Cr (14% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 70.98%.

Margin & Efficiency

ROCE improving from -6% (Mar 2014) to 7% (Mar 2025). Working capital days: 19.

Recent Announcements