Steel Authority of India Ltd

Q4 FY26Ferrous Metals

Steel Authority of India Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹173

Market cap₹72.5K Cr

P/E15.0

Updated23 Aug 2026

Read4 min read

The short version

Sales volume target for FY 2026-27 is 22 to 22.5 million tons, up from about 19 million tons in FY 2025-26, indicating a significant volume growth. SAIL expects continued sustainable performance with focus on decarbonization, capacity utilization, value addition, and cost competitiveness (Page 19).

From Steel Authority of India Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Sales volume target for FY 2026-27 is 22 to 22.5 million tons, up from about 19 million tons in FY 2025-26, indicating a significant volume growth.
The company aims to increase pure SAIL volumes from around 19 million tons to 22 million tons in FY 2026-27.
Revenue growth is expected due to steady domestic steel demand and firm international prices.
Expectation to maintain high profitability by focusing on operational efficiency and cost reduction.
Capex is planned at INR 15,000 crores for FY 2026-27, increasing to INR 18,000-19,000 crores in FY 2027-28, and INR 20,000-25,000 crores in subsequent years to support expansion.

2 more points management made on revenue & sales performance

Profitability & Margins

SAIL expects continued sustainable performance with focus on decarbonization, capacity utilization, value addition, and cost competitiveness (Page 19).
Steel prices expected to remain stable with firm international prices and rupee depreciation supporting margins (Pages 18-19).
Cost pressures anticipated due to increased coking coal prices, with a cost impact of around INR1,400 to INR1,500 per ton in Q1 FY27, but sales prices are supporting this (Page 18).
Profitability is targeted to remain high on average over the year, with efficiency improvements and cost reductions key drivers (Pages 15-16).
The company aims to fund significant capex (~INR15,000 crores FY27, rising to INR20,000+ crores), primarily through internal accruals by improving profitability (Pages 6, 15-16).

2 more points management made on profitability & margins

See what Steel Authority of India Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex guidance for FY26-27 is INR 15,000 crores, expected to increase in subsequent years.
Expansion projects ongoing at three plants: IISCO (advanced stages), Bokaro, and Bhilai.
Groundwork for IISCO expansion to start soon; expenditures to increase from FY27-28, with some in Q4 FY26-27.
Bokaro and Bhilai expansions expected to show major expenditures from FY28-29 onwards.
Capex expected to rise to INR 18,000-19,000 crores in FY27-28 and INR 20,000-25,000 crores yearly thereafter.
The company aims to fund most capex through internal accruals by improving profitability.

2 more points management made on capital expenditure plans

Top-ranked in Ferrous Metals

Ranked on what management guided this quarter

5x potential

1Shri Hare-Krish.₹66 Cr

Rev 1Mar 1

2Indian Metals₹6.6K Cr

Rev 2Mar 3

3₹5.9K Cr

Rev 2Mar 3

4₹8.0K Cr

Rev 3Mar 2

5₹3.1L Cr

Rev 3Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

SAIL plans significant capex ramp-up over the next few years: INR 15,000 crores in FY26-27, increasing to INR 18,000-19,000 crores in FY27-28, and eventually INR 20,000-25,000 crores annually as expansions at IISCO, Bokaro, and Bhilai progress.
The company aims to fund a large part of FY26-27 capex through internal accruals by improving profitability and cash flows.
Beyond FY26-27, incremental capex funding will likely come from long-term loans and borrowings, indicating potential future debt-raising.

2 more points management made on fundraising & capital structure

See what Steel Authority of India Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided transcript does not contain specific information on Steel Authority of India Limited's current or expected order book or pending orders. The discussion primarily covers: - Production capacity and utilization - Sales volume targets (22 to 22.5 million tons for FY26-27) - Cost and coal price impacts - Capex plans (INR 15,000 crores for FY26-27, increasing subsequently)

2 more points management made on order book & pipeline

Steel Authority of India Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹30.8K Cr, net profit ₹1.8K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Steel Authority of India Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Steel Authority of India Ltd Q4 FY26 results?

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?

Capex guidance for FY26-27 is INR 15,000 crores, expected to increase in subsequent years.

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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.