Steel Authority of India Ltd
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.(Source : Company Web-Site)
- Market Cap ₹ 55,452 Cr.
- Current Price ₹ 134
- High / Low ₹ 150 / 77.6
- Stock P/E 18.2
- Book Value ₹ 129
- Dividend Yield 1.12 %
- ROCE 5.74 %
- ROE 3.23 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.04 times its book value
- Company has been maintaining a healthy dividend payout of 30.9%
- Debtor days have improved from 26.1 to 18.7 days.
Cons
- Company has a low return on equity of 12.6% over last 3 years.
- Contingent liabilities of Rs.41,172 Cr.
- Promoter holding has decreased over last 3 years: -10.0%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Steel Industry: Steel - Large
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
46,286 | 44,376 | 46,567 | 45,660 | 38,746 | 44,452 | 57,558 | 66,967 | 61,661 | 69,110 | 103,473 | 104,447 | 106,547 | |
40,483 | 39,977 | 43,744 | 40,986 | 41,578 | 44,366 | 52,868 | 57,188 | 51,414 | 56,344 | 82,129 | 96,425 | 95,977 | |
Operating Profit | 5,803 | 4,398 | 2,823 | 4,673 | -2,831 | 86 | 4,691 | 9,779 | 10,247 | 12,766 | 21,344 | 8,022 | 10,570 |
OPM % | 13% | 10% | 6% | 10% | -7% | 0% | 8% | 15% | 17% | 18% | 21% | 8% | 10% |
1,899 | 993 | 3,086 | 913 | 527 | 271 | 438 | 98 | 165 | 1,032 | 667 | 1,614 | 903 | |
Interest | 984 | 748 | 968 | 1,454 | 2,300 | 2,528 | 2,823 | 3,155 | 3,487 | 2,817 | 1,698 | 2,037 | 2,349 |
Depreciation | 1,567 | 1,403 | 1,717 | 1,773 | 2,402 | 2,680 | 3,065 | 3,385 | 3,755 | 4,102 | 4,274 | 4,963 | 5,286 |
Profit before tax | 5,151 | 3,241 | 3,225 | 2,359 | -7,008 | -4,851 | -759 | 3,338 | 3,171 | 6,879 | 16,039 | 2,637 | 3,839 |
Tax % | 31% | 33% | 19% | 11% | 43% | 42% | 37% | 35% | 36% | 44% | 25% | 28% | |
3,543 | 2,170 | 2,616 | 2,093 | -4,021 | -2,833 | -482 | 2,179 | 2,022 | 3,850 | 12,015 | 1,903 | 2,771 | |
EPS in Rs | 8.58 | 5.25 | 6.33 | 5.07 | -9.74 | -6.86 | -1.17 | 5.27 | 4.89 | 9.32 | 29.09 | 4.61 | 6.70 |
Dividend Payout % | 23% | 38% | 32% | 39% | 0% | 0% | 0% | 9% | 0% | 30% | 30% | 33% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 13% |
3 Years: | 19% |
TTM: | 0% |
Compounded Profit Growth | |
---|---|
10 Years: | -3% |
5 Years: | 42% |
3 Years: | -13% |
TTM: | 0% |
Stock Price CAGR | |
---|---|
10 Years: | 7% |
5 Years: | 20% |
3 Years: | 19% |
1 Year: | 63% |
Return on Equity | |
---|---|
10 Years: | 5% |
5 Years: | 11% |
3 Years: | 13% |
Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 | 4,131 |
Reserves | 35,681 | 36,894 | 38,536 | 39,374 | 35,065 | 31,879 | 31,583 | 34,021 | 35,647 | 39,364 | 47,887 | 48,009 | 49,127 |
16,320 | 21,597 | 25,281 | 29,898 | 34,980 | 41,396 | 45,409 | 45,170 | 54,127 | 37,677 | 17,284 | 30,773 | 30,714 | |
20,381 | 21,781 | 24,217 | 26,140 | 26,389 | 29,363 | 33,388 | 33,364 | 31,462 | 34,831 | 48,709 | 45,099 | 42,672 | |
Total Liabilities | 76,512 | 84,402 | 92,165 | 99,542 | 100,564 | 106,768 | 114,511 | 116,685 | 125,366 | 116,002 | 118,011 | 128,012 | 126,644 |
17,158 | 16,777 | 26,771 | 36,169 | 45,925 | 50,285 | 58,612 | 61,359 | 69,019 | 67,600 | 73,657 | 73,524 | 72,298 | |
CWIP | 28,049 | 35,891 | 33,651 | 29,196 | 24,927 | 23,275 | 18,395 | 16,014 | 8,752 | 8,878 | 4,710 | 4,891 | 5,539 |
Investments | 685 | 718 | 720 | 919 | 1,293 | 1,395 | 1,491 | 1,585 | 1,585 | 1,595 | 1,624 | 1,673 | 1,732 |
30,619 | 31,016 | 31,024 | 33,259 | 28,420 | 31,811 | 36,012 | 37,728 | 46,011 | 37,929 | 38,019 | 47,924 | 47,076 | |
Total Assets | 76,512 | 84,402 | 92,165 | 99,542 | 100,564 | 106,768 | 114,511 | 116,685 | 125,366 | 116,002 | 118,011 | 128,012 | 126,644 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,042 | 2,404 | 5,883 | 2,744 | 3,800 | 2,125 | 6,158 | 7,302 | -651 | 23,396 | 30,964 | -5,406 | |
3,326 | -5,705 | -7,192 | -5,160 | -4,558 | -5,439 | -6,469 | -3,756 | -4,236 | -3,273 | -3,975 | -3,234 | |
-4,699 | 3,248 | 1,247 | 2,362 | 743 | 3,302 | 269 | -3,591 | 5,006 | -19,808 | -27,398 | 8,587 | |
Net Cash Flow | -332 | -53 | -62 | -55 | -16 | -12 | -41 | -45 | 119 | 315 | -409 | -53 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 37 | 36 | 43 | 26 | 30 | 24 | 25 | 24 | 52 | 43 | 17 | 19 |
Inventory Days | 210 | 308 | 279 | 383 | 307 | 274 | 226 | 243 | 371 | 207 | 170 | 180 |
Days Payable | 48 | 63 | 58 | 77 | 83 | 90 | 99 | 90 | 98 | 107 | 143 | 92 |
Cash Conversion Cycle | 199 | 281 | 264 | 331 | 254 | 208 | 152 | 178 | 325 | 143 | 44 | 106 |
Working Capital Days | 60 | 73 | 51 | 49 | 10 | -9 | -10 | 7 | 74 | 16 | -20 | 29 |
ROCE % | 11% | 7% | 5% | 5% | -6% | -3% | 3% | 8% | 8% | 11% | 24% | 6% |
Documents
Announcements
- Closure of Trading Window 11h
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
19 Feb - Transcript of Conference Call held on 14th February, 2024
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 Feb - Link to Audio Recording of conference call held with Analysts & Investors on 14th February, 2024
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Feb - Extract of Newspaper publication of Unaudited financial results for quarter and Nine Months ended 31st December, 2023
- Record Date For Interim Dividend 2023-24 12 Feb
Annual reports
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2012
from nse
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Financial Year 2011
from bse
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Financial Year 2010
from bse
Concalls
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Feb 2024TranscriptPPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023TranscriptPPT
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Aug 2022TranscriptPPT
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May 2022TranscriptPPT
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Jun 2018TranscriptNotesPPT
Modernisation and Expansion plan
The company is one of the largest steelmakers in India, with a total crude steel and saleable steel capacity of 19.63 million tonnes per annum and 18.54 million tonnes per annum, respectively, as on 31 March 2022. [1]
As on FY22, the utilisation was 88% and 92% for crude steel and saleable steel[2]
SAIL expects to incur a capex of INR60,000 million- INR80,000 million in FY23. The company’s future capex would be funded by debt and internal accruals in a 50:50 ratio. [1]