S.A.L. Steel Ltd
- P/E
- 29.5x
- 52-week range
- 33.1 – 102.4
- ROE
- −18%
- ROCE
- 1%
- Sector
- Ferrous Metals
- Industry
- Sponge Iron
- Listed on
- NSE, BSE
About
SAL Steel Limited is an India-based versatile steel, ferro alloys and power company. The Company operates near Kandla Port in the state of Gujarat in Western India. The Company’s product range consists of direct reduced iron (direct reduced iron/sponge iron), ferro alloys, iron ore pellets and various finished steel products. The Company also has a 40-megawatt (MW) plant, which generates power from a waste heat recovery boiler and fluidized bed combustion boiler. Its power generated is used for captive consumption and surplus power is sold to various customers.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Sponge Iron: 7 companies →S.A.L. Steel Ltd against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)29.5 against a typical 19.2: pricier than most peers (1st = cheapest).5th of 7
- Sales growth−31.6% against a typical +21.8% from a year earlier.5th of 6
- Share price, 3 months+21.7% against a typical −5.7%.1st of 7
Latest announcements
Exchange filings and their impact on the company.
- Board seeks nod for Rs 403 cr past related-party loans/trades and Rs 1400 cr future supply, loan and guarantee lines to keep sponge-iron plants running.
On 16 Oct 2026, SAL Steel's board approved a postal ballot to get shareholder approval for material related-party deals. It seeks post-facto nod for a Rs 228.67 cr loan from Lawrence Merchants and Rs 174.62 cr of purchases, sales and loans with holding company Sree Metaliks, which owns 57.51%. For the year from 20 Nov 2026 it seeks limits including Rs 400 cr of purchases, Rs 100 cr of sales, Rs 400 cr of loans and a Rs 500 cr corporate guarantee from Sree Metaliks. The company says the funds cleared maintenance backlogs and secure iron-ore for its sponge-iron plants.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Moderate safety, with caution
Rated BBB+ by Acuite- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| Acuite | ACUITE BBB+ | Stable | 27 Mar 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 27 Mar 2026 | New rating | ACUITE BBB+ | — | Acuite | ₹ 250 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 14 Aug 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters |
| 29 May 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2026 and other business matters |
| 14 Feb 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended December 31, 2025 and other business matters |
| 14 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 4 Sep 2025 | Fund Raising/Other business matters | To consider Fund Raising and other business matters |
| 14 Aug 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2025 and other business matters |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 157 | 130 | 139 | 111 | 124 | 194 | 117 | 128 | 66 | 2 | 12 | 87 |
| Expenses | 151 | 127 | 130 | 105 | 118 | 182 | 117 | 133 | 53 | 2 | 5 | 74 |
| Operating Profit | 6 | 2 | 9 | 6 | 6 | 12 | −0 | −5 | 13 | −0 | 7 | 14 |
| OPM % | 3.7% | 1.8% | 6.7% | 5.4% | 4.8% | 6.2% | −0.1% | −4.2% | 19.7% | −1.4% | 59.2% | 15.5% |
| Other Income | 0 | 0 | 0 | 0 | 0 | −4 | 0 | 0 | 0 | 16 | 0 | 0 |
| Interest | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 5 | 5 | 6 | 5 | 6 |
| Depreciation | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 0 | −3 | 4 | 0 | 0 | 0 | −8 | −13 | 5 | 8 | −0 | 5 |
| Tax % | 17.7% | −25.5% | 26.4% | 20% | 40% | 241.7% | −26.2% | −25.2% | 27.3% | 13.9% | 267.9% | 31.8% |
| Net Profit | 0 | −2 | 3 | 0 | 0 | −1 | −6 | −10 | 4 | 7 | −1 | 3 |
| EPS in Rs | 0.02 | −0.29 | 0.32 | 0.02 | 0.01 | −0.08 | −0.7 | −1.14 | 0.44 | 0.61 | −0.07 | 0.21 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- −4%
- 5 Years
- −7%
- 3 Years
- −25%
- TTM
- −70%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- 80%
- 10 Years
- 39%
- 5 Years
- 50%
- 3 Years
- 70%
- TTM
- —
- 10 Years
- —
- 5 Years
- −1%
- 3 Years
- −10%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| S.A.L. Steel Ltd | ₹ 76.22 | — | 29.5x | — | −18% | — |
| JSW Steel | ₹ 1,187.00 | ₹ 2,90,275 Cr. | 42.5x | 3.1x | 0% | 0% |
| Tata Steel | ₹ 167.25 | ₹ 2,08,786 Cr. | 18.9x | 2.2x | 0% | 0% |
| Jindal Steel | ₹ 1,012.00 | ₹ 1,04,634 Cr. | 28x | 2.2x | 0% | 0% |
| Lloyds Metals And Energy | ₹ 1,780.40 | ₹ 1,00,195 Cr. | 26.8x | 7.3x | 0% | 0% |
| Steel Authority of India | ₹ 165.00 | ₹ 70,012 Cr. | 18.7x | 1.2x | 0% | 0% |
Management
- Mahesh Kumar Agarwal
- Chairman of the Board, Additional Managing Director, Executive Director
- Anil Kumar Singh
- Chief Financial Officer, Whole Time Director
- Devilal Jamnalal Shah
- Compliance Officer, Company Secretary
- Kaustubh Agarwal
- Additional Managing Director, Executive Director
- Kailash Chandra Thatoi
- Managing Director, Executive Director
- AnilKumar S. Pandya
- Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.