Steel Authority of India Ltd
Steel Authority of India Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #8 of 9 in Ferrous Metals
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The short version
Sales volume guidance for FY26 is around 19.5 million tonnes, with 14.6 million tonnes already achieved in 9 months. - Q4 volumes are expected to exceed Q3 volumes, aiming for approximately 5.5 million tonnes in Q4 to potentially surpass 20 million tonnes total sales. - For FY27, the target hot metal production is 22.5 million tonnes, with saleable steel around 21 million tonnes. - FY27-28 expects further growth: 23 million tonnes hot metal and 21.5 million tonnes saleable steel (excluding NSL volumes). - Revenue growth is roughly in line with volume growth, evidenced by a 9% increase in nine-monthly revenue for FY25-26. - Expansion projects, especially IISCO (with a ~Rs. SAIL targets hot metal production of ~22.5 million tonnes for FY27, up from ~20.5 million tonnes in FY26. - Saleable steel sales are expected around 21 million tonnes in FY27, growing further to ~21.5 million tonnes in FY28. - EBITDA per ton expected to improve from current Rs.
From Steel Authority of India Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Sales volume guidance for FY26 is around 19.5 million tonnes, with 14.6 million tonnes already achieved in 9 months.
- Q4 volumes are expected to exceed Q3 volumes, aiming for approximately 5.5 million tonnes in Q4 to potentially surpass 20 million tonnes total sales.
- For FY27, the target hot metal production is 22.5 million tonnes, with saleable steel around 21 million tonnes.
- FY27-28 expects further growth: 23 million tonnes hot metal and 21.5 million tonnes saleable steel (excluding NSL volumes).
- Revenue growth is roughly in line with volume growth, evidenced by a 9% increase in nine-monthly revenue for FY25-26.
2 more points from Steel Authority of India Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- FY26 CAPEX guidance is between Rs. 7,500 crores to Rs. 10,000 crores.
- FY27 CAPEX is projected at around Rs. 15,000 crores.
- Major CAPEX focus on ISP (Integrated Steel Plants) expansion, including IISCO expansion with a total estimated cost of around Rs. 36,000 crores.
- IISCO expansion expected to peak in CAPEX spending during FY27-28 and FY28-29, with completion targeted around FY30.
- Debottlenecking projects ongoing at DSP (Durgapur Steel Plant), including a 1 million tonne increase in capacity through a new blast furnace and a TMT mill (expected completion ~18-20 months).
2 more points from Steel Authority of India Ltd's call on capex
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Top-ranked in Ferrous Metals
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Steel Authority of India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹32.0K Cr, net profit ₹1.8K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Steel Authority of India Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Steel Authority of India Ltd Q3 FY26 results?
Sales volume guidance for FY26 is around 19.5 million tonnes, with 14.6 million tonnes already achieved in 9 months. - Q4 volumes are expected to exceed Q3 volumes, aiming for approximately 5.5 million tonnes in Q4 to potentially surpass 20 million tonnes total sales. - For FY27, the target hot metal production is 22.5 million tonnes, with saleable steel around 21 million tonnes. - FY27-28 expects further growth: 23 million tonnes hot metal and 21.5 million tonnes saleable steel (excluding NSL volumes). - Revenue growth is roughly in line with volume growth, evidenced by a 9% increase in nine-monthly revenue for FY25-26. - Expansion projects, especially IISCO (with a ~Rs. SAIL targets hot metal production of ~22.5 million tonnes for FY27, up from ~20.5 million tonnes in FY26. - Saleable steel sales are expected around 21 million tonnes in FY27, growing further to ~21.5 million tonnes in FY28. - EBITDA per ton expected to improve from current Rs.
What is Steel Authority of India Ltd share price analysis?
Steel Authority of India Ltd currently shows a neutral. The stock trades at a P/E of 15.0 with a market cap of ₹72,491 Cr. Investors should review the full earnings analysis for detailed insights.
Is Steel Authority of India Ltd planning capital expenditure?
FY26 CAPEX guidance is between Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.