Steel Authority of India Limited (SAIL) is one of the largest steel-making companies in India and one of the Maharatnas of the countrys Central Public Sector Enterprises. SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products.
Q1 FY26 Earnings Summary (Apr–Jun 2025)
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Standalone Net Profit (PAT): ₹745 crore, marking a huge 800% increase over Q1 FY25 (which was only ₹11 crore).
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Revenue from Operations: ₹25,921 crore, up 8% year-over-year but down ~12% sequentially from Q4 FY25.
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EBITDA: ₹2,925 crore, with an EBITDA margin around 11.2%.
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Profit Before Tax: ₹890 crore.
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PAT declined about 40.5% sequentially from Q4 FY25 but showed significant improvement year-on-year.
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Production and sales volumes grew compared to the previous year, with crude steel production at 4.85 million tonnes in Q1 FY26.
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Labor productivity improved, and total workforce was reduced by 1,017 employees to 52,142.
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Net worth rose to ₹56,224 crore, while borrowings decreased, improving the debt-equity ratio to 0.51 times.
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Key operational plants like Bhilai led revenue contribution.
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The company is focused on ramping up steelmaking capacity from ~20 million tonnes to 35 million tonnes by 2030 with a capex guidance of ₹7,500 crore for FY26.
Key Management & Strategic Decisions
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Management emphasized improved operational efficiency, better cash flow, and strong domestic sales growth supported by government safeguard duties.
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Cost optimization measures are a priority to enhance stakeholder value.
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The company aims to expand capacity and maintain high-quality steel production despite global market fluctuations.
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Workforce optimization continues to improve productivity.
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Continued focus on debt management and strengthening the balance sheet.
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Plans for capacity expansion, including tendering commenced at key steel plants for future growth.
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Government safeguard duties on imports helped protect domestic business.
Q4 FY25 Earnings Summary (Jan–Mar 2025)
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Standalone Net Profit: ₹1,178 crore (approximately ₹11,796 million).
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Earnings Per Share (EPS): ₹2.85.
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Revenue from Operations: About ₹29,316 crore.
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Profit Before Tax (PBT): ₹1,564 crore.
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EBITDA: ₹3,781 crore.
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SAIL reported a robust Q4 with strong operational efficiency and solid performance amid international tariff and import challenges.
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Net worth increased, and the company maintained a strong financial position during this period.
Summary
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Q4 FY25 showed strong profit and revenue with operational improvements amid tariffs.
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Q1 FY26 reported a 273% increase in PAT year-over-year but profit declined sequentially from Q4 FY25 reflecting typical quarterly fluctuations.
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Overall, SAIL is positioning itself for long-term growth with capacity expansion, cost control, and efficiency gains in a positive domestic demand environment.