Steel Authority of India

Indicators

4 bullish · 5 neutral · 12 bearish

Verdict

SAIL strengthens its balance sheet and boosts profitability as steel prices recover, though mining output and sales volumes face seasonal volatility.

Why

• •EBITDA margin expanded from 10.56% in Q3 FY26 to 16.7% in Q1 FY27, driven by higher steel prices and better cost control.
• •Borrowings fell from ₹28,741 Cr in Q1 FY26 to ₹21,729 Cr in Q1 FY27, while the debt-to-equity ratio improved from 0.51x to 0.36x.
• •Labour productivity rebounded to 654 tonnes per employee after a mid-year dip, supported by a leaner workforce of 49,752 staff.
• •Iron ore production dropped sharply from 25.9 MT in Q3 FY26 to 10.4 MT in Q1 FY27, and galvanized product sales share fell from 6% to 0.9%, pointing to supply and demand shifts.

Signals