Steel Authority of India Ltd(SAIL)

NSE: SAILBSE: 500113

₹ 169.9+2.97%refreshed 26 Oct, 03:50 pm ISTMarket cap: ₹ 70,178 crNext results: 27 Oct 2026Website: www.sail.co.inUpdated: 24 Oct 2026

About

Steel Authority of India Limited (SAIL) is a government-owned integrated steel producer with five integrated steel plants at Bhilai, Bokaro, Rourkela, Durgapur and Burnpur (IISCO). It also runs special steel units and captive iron ore mines. In FY26 it reported revenue of Rs 110810.84 crore and sold 19.9 MT of saleable steel, its highest ever.^[1][2][3]

Business segments

Bhilai Steel Plant: 26.5% of FY26 segment revenue (Rs 31872.59 crore).^[4]
Bokaro Steel Plant: 22.8% of FY26 segment revenue (Rs 27407.02 crore), its share up 3.1 points over FY2020-FY2026.^[4]
Rourkela Steel Plant: 21.5% of FY26 segment revenue (Rs 25858.91 crore), its share up 3.1 points over FY2020-FY2026.^[4]
IISCO Steel Plant: 10.9% of FY26 segment revenue; Durgapur Steel Plant: 9.6%; Others: 5.8%.^[4]

Operations and capacity

Five integrated steel plants at Burnpur, Durgapur, Bokaro, Rourkela and Bhilai with about 19 MTPA of crude steel capacity (FY25 annual report).^[1]
Salem Steel Plant (Tamil Nadu) makes stainless and special steels.^[4]
Management expects FY27 production of 22.5 MT through debottlenecking above nameplate.^[3]
Captive iron ore mines in Odisha, Chhattisgarh and Jharkhand produced 38 MT of iron ore in FY26, with a target of 56 MT in FY27.^[3]
Coking coal was about 85% imported and 15% indigenous as of Q1 FY27; captive mines supply about 5% of the total requirement.^[5]
Chiria iron ore (about 1.4 bn t, about 35% of SAIL's reserves) sits in a no-mining zone (FY25).^[1]

Key operating numbers

Q1 FY27: crude steel production 4.757 MT, saleable steel production 4.516 MT, sales 4.163 MT (down about 7-8% YoY because of planned capital repairs).^[5]
Q1 FY27 EBITDA per tonne was Rs 10,464/t.^[5]
Q1 FY27 net sales realisation was Rs 57,100/t, against Rs 52,000/t in Q4 FY26.^[5]
Q1 FY27 imported coking coal consumption cost was Rs 21,300/t, up Rs 3,500/t from Q1 FY26.^[5]
Coke rate of 420 kg/thm in FY27 vs 457 kg/thm in FY20; blast furnace productivity of 2.13 T/m³/day in FY27 vs 1.79 in FY22.^[5]
Value-added products were 57% of the sales mix in Q2 FY26, up from 55% in Q1 FY26.^[6]
Finished steel was about 89% of Q1 FY27 sales vs about 86% in Q1 FY26; semis fell from 14% to about 6%.^[5]

Products and brands

The portfolio covers long products (TMT bars, rails, structurals) and flat products (hot-rolled coils and plates, cold-rolled, galvanised).^[3]
SAIL SeQR TMT bar sales rose 51% to 12.85 lakh tonnes in FY25, from 8.47 lakh tonnes.^[1]
SAILNEX structural brand: parallel flange sections made at the IISCO and Durgapur plants.^[1]
Salem's cold-rolled mill yield was 83-84% in FY26, with a target of 90%.^[3]

Customers and markets

Supplied 11.55 lakh tonnes of rails to Indian Railways in FY25; it has met the railways' entire demand for steel tracks for decades.^[1]
DMR249A plates went to the Indian Navy from the Bhilai and Rourkela plants (FY25).^[1]
Supplied steel to the Delhi-Mumbai Expressway, Central Vista and the Mumbai-Ahmedabad Bullet Train (FY25).^[1]
Exports were 0.48% of total turnover in FY25.^[1]
Signed its first contract manufacturing agreement, with NMDC Steel Ltd, to supply and market HR products (FY25).^[1]

Iron ore sales

External iron ore sales were 1.1 MT in Q1 FY27 vs 0.31 MT in Q1 FY26, bringing in Rs 574 crore of revenue.^[5]
FY27 target for external iron ore sales is 8 MT; the long-term iron ore production target is 80 MT.^[5]
Holds 32 MT of sub-grade fines in stock; a first auction of 3 MT is planned in FY27.^[5]

Expansion and capex

FY27 capex target is Rs 15,000 crore; Q1 FY27 spend was Rs 2,575 crore against a plan of Rs 2,306 crore.^[5]
Plans to expand crude steel capacity to about 35 MTPA by 2030-31 with about Rs 1 lakh crore of capex (FY25 annual report).^[1]
IISCO expansion: about Rs 35,000 crore to add 4.5 MT of crude steel capacity, with new capacity expected from FY30-31.^[3]
Bokaro: about Rs 18,000 crore to add about 3 MT; Bhilai: about Rs 30,000 crore to add about 3.5 MT, with approval being finalised.^[3]
Durgapur TMT bar mill (0.8-0.9 MTPA) is targeted for commissioning in September-December 2027.^[5]
A 2 Mtpa pellet plant at Rourkela is due in February 2027; the 1 Mtpa Dalli pellet plant was in trials (FY25).^[1]
Renewable energy capacity target of 384 MW by FY2028-29.^[1]

Recent developments

October 2026: CareEdge revised the long-term rating outlook to Positive from Stable on Rs 14,850 crore of bank facilities.^[7]
September 2026: signed an MoU with Bharat Coking Coal Limited to jointly develop two coking coal blocks in West Bengal.^[8]
The Tasra captive coking coal mine is expected to start production in December 2026.^[5]
FY26 financial statements carried no audit qualifications.^[3]
Closure of VISP and monetisation of its land were approved; the disinvestment of ASP and SSP did not succeed (FY25).^[1]

Market Cap

₹70,178 Cr

High / Low

₹210 / 124

Stock P/E

16.0

Price / Book

1.1

Book Value

₹146

EPS

₹8.2

No. of Shares

413.05 Cr

ROCE

7.7%

ROE

5.7%

OPM

6.2%

Debt / Equity

0.53

Sales

₹1,10,811 Cr

Net Profit

₹3,373 Cr

Promoter holding

65.0%

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Steel Authority of India Ltd(SAIL)

About

Business segments

Operations and capacity

Key operating numbers

Products and brands

Customers and markets

Iron ore sales

Expansion and capex

Recent developments

Signal history

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