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Steel Authority of India Limited (SAIL), one of India’s largest and most trusted steel manufacturers, plays a important role in powering the nation’s infrastructure and industrial growth. In this SAIL fundamental analysis, we will cover a complete breakdown of SAIL financial performance, revenue and profit trends, cash flow statements, ROE & ROCE ratios, debt levels, and shareholding pattern.
Investors who is keeping an eye on the SAIL share price, SAIL share price target and SAIL fundamentals will find key insights to make informed decisions. With growing steel demand, government-backed expansion plans, and a strong market presence, is it good to invest in SAIL?
Let’s explore in detail..
SAIL Share Price History
Steel Authority of India Ltd. Overview
| Company Essentials | Value | Company Essentials | Value |
|---|---|---|---|
|
Market Cap |
₹ 52,693 Cr. |
Face Value |
₹ 10 |
|
52 Week High |
₹ 144.20
|
52 Week Low |
₹ 99.15 |
|
Industry P/E |
24.52 |
Stock P/E |
17.36 |
|
Div. Yield |
1.25% |
EPS (TTM) |
7.35 |
Steel Authority Of India Ltd. (SAIL) Total Returns In Last 5 Years
Based on SAIL fundamental analysis, the company has shown strong long-term growth despite short-term volatility. Steel Authority of India Ltd. (SAIL) Total Returns in the Last 5 Years reflect strong long-term growth. Despite a marginal decline of -2.22% in the past 1 year, the stock has delivered solid gains of 24.16% over 2 years, 61.07% over 3 years, and an impressive 214.99% over 5 years.
Investors who are tracking SAIL share price returns, SAIL price history, and overall fundamentals can see that the company has created significant long-term wealth despite short-term volatility.
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Steel Authority of India (SAIL) Ltd. - Competitors/Peers Analysis
Based on the below table and SAIL Fundamental Analysis, the Steel Authority of India Ltd. (SAIL) Peer Comparison shows that SAIL holds a competitive position in the steel sector. With a CMP of ₹129.75, a relatively low P/E ratio of 17.57, and a market cap of ₹53,593 Cr, SAIL appears more attractively valued compared to peers like JSW Steel (P/E 51.50) and Tata Steel (P/E 43.73).
In terms of financial performance, SAIL posted a quarterly profit of ₹744.58 Cr with a strong 97.38% YoY growth and reported ₹25,921.76 Cr in quarterly sales, showing an 8.02% increase. Additionally, SAIL offers a dividend yield of 1.29%, higher than several of its competitors.
Among its peers, Jindal Stainless leads with a ROCE of 18.16%, followed by Sarda Energy at 15.58%, while SAIL records a modest ROCE of 6.76%. Despite this, the stock remains attractive due to its value-driven pricing, consistent growth, and improving profitability.
Overall, the Steel Authority of India (SAIL) Ltd. competitor comparison indicates that SAIL is a strong player among SAIL competitors like JSW Steel, Tata Steel, Jindal Steel, Jindal Stainless, Sarda Energy, and NMDC Steel, making it an appealing choice for long-term investors.
| Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| JSW Steel | 1074.00 | 51.50 | 262641.72 | 0.27 | 2209.00 | 158.46 | 43147.00 | 0.48 | 8.11 |
| Tata Steel | 167.80 | 43.73 | 209473.50 | 2.16 | 2007.36 | 97.11 | 53178.12 | -2.91 | 8.83 |
| Jindal Steel | 1028.35 | 27.48 | 104900.83 | 0.21 | 1495.97 | 11.48 | 12294.48 | -9.72 | 10.67 |
| Jindal Stain. | 762.30 | 24.34 | 62795.97 | 0.39 | 714.66 | 10.20 | 10207.14 | 8.24 | 18.16 |
| SAIL | 129.75 | 17.57 | 53593.53 | 1.29 | 744.58 | 97.38 | 25921.76 | 8.02 | 6.76 |
| Sarda Energy | 587.10 | 22.09 | 20688.31 | 0.25 | 436.66 | 118.53 | 1633.11 | 76.32 | 15.58 |
| NMDC Steel | 43.03 | 12610.44 | 0.00 | 25.56 | 104.67 | 3365.22 | 66.36 | -12.97 |
Steel Authority of India (SAIL) Ltd. Shareholding Pattern
As per the SAIL Shareholding Pattern, Steel Authority of India Ltd. has maintained a stable promoter holding of 65% from Sep 2024 to Jun 2025. FIIs’ stake increased from 2.82% in Sep 2024 to 3.65% in Jun 2025, showing rising foreign investor interest. DIIs’ shareholding also grew from 16.04% to 17.30% during the same period, while the public holding declined from 16.15% to 14.03%. Overall, SAIL’s shareholding indicates stronger institutional participation and reduced public holding.
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SAIL Financial Statements
SAIL Sales Growth: SAIL financial statements reflect a stable trend in SAIL sales growth over the years. The company reported sales of ₹1,04,448 Cr in March 2023, ₹1,05,378 Cr in March 2024, and ₹1,02,479 Cr in March 2025, with TTM revenue at ₹1,04,403 Cr. Investors tracking SAIL results, SAIL revenue growth, and SAIL financial performance can observe consistent topline stability despite market fluctuations.
Sales Growth (in Crores)
No Data Found
SAIL Operating Profit Growth: The company’s operating profit increased from ₹8,038 Cr in March 2023 to ₹11,149 Cr in March 2024, followed by ₹10,690 Cr in March 2025, with TTM operating profit at ₹11,195 Cr. Investors tracking SAIL fundamentals, SAIL financial performance, and SAIL profitability can see consistent operational strength despite market challenges.
Operating Profit (in Crores)
No Data Found
SAIL Net Profit Growth: The company posted a net profit of ₹2,177 Cr in March 2023, which rose to ₹3,067 Cr in March 2024, but slightly declined to ₹2,372 Cr in March 2025. The TTM net profit currently stands at ₹3,035 Cr.
Net Profit (in Crores)
No Data Found
Steel Authority of India Key Financial Ratios
Sales Growth & Profit Growth
The Steel Authority of India (SAIL) key financial ratios highlight mixed growth trends. Over the last 1 year, SAIL sales growth declined by -2.75%, while the 3-year growth remained almost flat at -0.32%. However, over the 5-year period, SAIL revenue growth shows a positive 10.69%.
On the profitability side, SAIL profit growth dropped by -21.41% in 1 year and -43.67% over 3 years, but maintained a marginal 1.22% growth in 5 years. Investors tracking SAIL financial ratios, SAIL profit growth, and SAIL sales performance can note a stable long-term trend despite recent volatility.
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SAIL ROE Ratio:
The company’s ROE stands at 3.91% for 1 year, 4.24% over 3 years, and 9.42% over 5 years, indicating a gradual improvement in shareholder returns over the long term. Investors tracking SAIL ROE and SAIL fundamentals can assess its profitability trend.
SAIL ROCE Ratio:
SAIL’s ROCE is 6.34% for 1 year, 6.53% over 3 years, and 10.85% over 5 years, showing efficient capital utilization and steady operational performance. Investors focusing on SAIL ROCE and SAIL financial ratios can evaluate its long-term capital efficiency.
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Steel Authority of India Consolidated Cash Flow (in Cr.)
Steel Authority of India Ltd. (SAIL) consolidated cash flow statement shows significant fluctuations over the past five years.
SAIL Cash from operating activities stood at ₹23,430 Cr in Mar 2021 while peaked at ₹30,987 Cr in Mar 2022, but declined to ₹9,914 Cr in Mar 2025.
SAIL Cash from investing activities steadily increased from ₹-3,295 Cr in 2021 to ₹-5,268 Cr in 2025.
While SAIL cash from financing activities jumped to ₹8,587 Cr in 2023 before falling to ₹-4,424 Cr in 2025.
Consequently, Sail net cash flow stood at ₹328 Cr in 2021, dropped to -₹387 Cr in 2022, -₹74 Cr in 2023, slightly improved to ₹12 Cr in 2024, and further strengthened to ₹222 Cr in 2025.
So, investors who are tracking SAIL cash flow, SAIL financial performance, and SAIL results can note the volatility in operating, investing, and financing activities, reflecting changing business dynamics.
| Particulars (Consolidated) | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Cash from Operating Activity | 23,430 | 30,987 | -5,290 | 2,911 | 9,914 |
| Cash from Investing Activity | -3,295 | -3,976 | -3,371 | -4,261 | -5,268 |
| Cash from Financing Activity | -19,808 | -27,398 | 8,587 | 1,362 | -4,424 |
| Net Cash Flow | 328 | -387 | -74 | 12 | 222 |
About Steel Authority of India Limited (SAIL)
Steel Authority of India Limited is the largest steel manufacturing company in India and holds the status of being one of the seven Maharatnas among the country’s Central Public Sector Enterprises. But before we dive deep into SAIL’s business, let’s get a clear understanding of the Indian steel industry.
India stands as the second-largest global contributor to crude steel production.In the fiscal year 2023, this industryproduced 125.32 million tonnes of crude steel and 121.29 million tonnes of finished steel. Looking forward to 2024, we can expect a growth of 4% to 7%, reaching a range of 123 to 127 million tonnes.
By the fiscal year 2030-31, we can anticipate an annual production of over 300 million tonnes.
Steel Authority of India Limited’s Evolution Over the Years
Remember, we talked about how SAIL is a big player in the steel industry and earned a special title called ‘Maharatna’ in the world of government-owned companies. This title is not easy to get. To be called a Maharatna, a company has to make a net profit of over ₹5,000 crore for three years in a row, have an average annual turnover of ₹25,000 crore for three years, or have an average net worth of ₹15,000 crore for three years.
Surprisingly, SAIL was established on January 24, 1973, and it wasn’t initially a fully operational company. But started the journey as a holding company, mainly responsible for overseeing government-owned steel plants in the country.
Currently, SAIL manufactures iron and steel at five integrated plants and three specialized steel plants. These facilities are primarily situated in the eastern and central regions of India, strategically placed near local sources of raw materials. SAIL is known for producing and offering a diverse range of steel products.
Steel Authority of India: A Story of Success and Growth
- 1954: Hindustan Steel Limited (HSL) was established, consisting of four plants: Bhilai Steel Plant, Rourkela Steel Plant, Durgapur Steel Plant, and Alloy Steel Plant.
- 1957: The Iron and Steel Ministry transferred the supervision of Bhilai and Durgapur Steel Plants to HSL.
- 1960: A Rail and structural mill was started at the Bhilai Steel Plant.
- 1962: By January 1962, HSL had a total steel production capacity of 2 million tonnes, and they had inaugurated their Wheel and axle plant at Durgapur.
- 1968: Construction of Bokaro Steel Limited began, and various facilities were commissioned at different HSL plants.
- 1972: To create a new industry management model, the Ministry of Steel and Mines shared a new plan with the parliament.
- 1972: The first blast furnace at Bokaro Steel Plant was inaugurated, Salem Steel Limited was formed in Tamil Nadu, and RDCIS was established in Ranchi.
- 1973: SAIL was officially incorporated on January 24, 1973, with an authorized capital of Rs 2000 crore, and started its operations with five integrated plants in Rourkela, Bhilai, Durgapur, Bokaro, and Burnpur. The Bokaro steel plant helped increase the overall crude steel production capacity to 4 million tonnes by 1973.
- 1978: Gradually, they started restructuring and transforming into an operating company by acquiring the Indian Iron & Steel Company (IISCO) as a subsidiary.
- 1985: The integrated trial run of the Meghahataburu iron ore project was inaugurated.
- 1986: The first modernization phase was initiated at Durgapur, and SAIL took over Maharashtra Electrosmelt Limited (MEL), subsequently renamed Chandrapur Ferro Alloy Plant (CFP).
- 1989: Then, in 1989, they formed The Raw Material Division, and the subsidiary Visvesvaraya Iron & Steel Plant (VISL) merged into SAIL.
- 1992: SAIL got listed in the Bombay Stock Exchange.
- 1995: Rourkela Steel Plant’s first modernization was commissioned.
- 1997: SAIL became a Navratna company.
- 2001: SAIL entered into a joint venture with NTPC to form NSPCL for captive power generation.
- 2004: SAIL released its environment policy, and the Bhilai plant produced the first 80-meter-long rail.
- 2006: IISCO was merged with SAIL.
- 2007: A modernization and expansion plan was initiated to increase crude steel production to 21.40 million tonnes per annum.
- 2010: SAIL became a Maharatna company.
- 2013: Durga, India’s second largest blast furnace with a capacity of 4060 cubic meters, was set up at RSP. Special grade steel from Bhilai and Rourkela was used for building India’s first indigenous aircraft carrier, INS Vikrant.
- 2015: Steel plants at Rourkela and IISCO were modernized and dedicated to the Nation.
- 2017: The Rail Mill at BSP produced the world’s longest single-piece rail, measuring 130 meters.
- 2018: LHB wheels were developed and supplied by DSP, as well as the new ‘NEX’ brand called Parallel Flange Section.
- 2019: In 2019, SAIL introduced its new range of branded TMT bars called SAIL SeQR.
SAIL Units Across India
This table provides details about the various SAIL Units located throughout India.
SAIL Integrated Steel Plants:
| Unit | State |
|---|---|
|
Rourkela Steel Plant |
Odisha |
|
Bhilai Steel Plant |
Chhattisgarh |
|
Durgapur Steel Plant |
West Bengal |
|
Bokaro Steel Plant |
Jharkhand |
|
IISCO Steel Plant |
West Bengal |
Special Steel Plants
| Unit | State |
|---|---|
|
Alloy Steel Plant |
West Bengal |
|
Salem Steel Plant |
Tamil Nadu |
|
Visvesvaraya Iron and Steel Limited |
Karnataka |
Ferro Alloy Plant
| Unit | State |
|---|---|
|
Chandrapur Ferro Alloy Plant |
Maharashtra |
Business Overview of Steel Authority of India
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Steel production comprises three main categories. “Flats” include plates, sheets, and coated sheets. “Long products” consist of rails, bars, and rods. “Semis” are semi-finished products requiring further processing.
The above chart indicates that the majority of the production comprises flat steel products, followed by long products, with semis accounting for a smaller portion.
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In the fiscal year 2023, SAIL’s Integrated Steel Plants showcased diverse production profiles.
- At Bhilai Steel Plant, the majority of their production (66%) consisted of long steel products.
- Durgapur Steel Plant focused primarily on semis, which accounted for 52% of their production.
- Rourkela Steel Plant specializes in flats, achieving full capacity in this category (100%).
- Bokaro Steel Limited primarily produced flats, making up 99% of their production.
- At IISCO Steel Plant, there was a significant emphasis on long products, representing 69% of their production, with semis accounting for 31%.
Final Words
Based on this SAIL Fundamental Analysis, Steel Authority of India Ltd. (SAIL) stands as one of India’s leading and most trusted steel producers with a strong market presence and government-backed growth plans. While the SAIL share price history shows phases of short-term volatility, the company has delivered impressive long-term returns and continues to maintain consistent revenue performance.
With stable financials, improving profitability, and rising institutional participation, SAIL remains an attractive option for investors seeking long-term value. However, before making any decision, it is crucial to track the SAIL share price target, business expansions, and industry demand trends to align with future growth opportunities.
Steel Authority of India FAQs
What is the future prediction for SAIL?
The average 12-month share price target for Steel Authority of India Ltd. (SAIL) is estimated at around ₹121.08, which actually suggests a downside of approximately 5% from current levels
Is SAIL a good buy?
SAIL’s fundamentals have indeed improved significantly from lows around ₹20 in March 2020 to nearly ₹170 in May 2024, primarily due to better financial performance
Is Steel Authority of India a Government company?
Yes. SAIL is a Maharatna Public Sector Undertaking, controlled by the Government of India under the Ministry of Steel
Who is the owner of Steel Authority of India?
The Government of India holds a majority stake of approximately 65%, ensuring voting control.
Is Steel Authority of India a good stock?
SAIL has improved its fundamentals post-Covid, but analyst sentiment is neutral with limited upside. It lags behind Tata Steel, making it more suitable for long-term or value investors. Tracking SAIL share price target and fundamentals is essential.
Happy investing and thank you for reading!
Disclaimer:
This website content is only for educational purposes, not investment advice. Before making any investment, it’s important to do your own research and be fully informed. Investing in the stock market includes risks, and you should carefully read the Risk Disclosure documents before proceeding. Please remember that past performance doesn’t guarantee future results, and due to market fluctuations, your investment goals may not always be achieved.
