Steel Authority of India Ltd

About [ edit ]

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)

Key Points [ edit ]
  • Market Cap 59,583 Cr.
  • Current Price 144
  • High / Low 146 / 26.6
  • Stock P/E 16.2
  • Book Value 98.4
  • Dividend Yield 0.69 %
  • ROCE 8.43 %
  • ROE 6.43 %
  • Face Value 10.0

Pros

Cons

  • Promoter holding has decreased over last quarter: -10.00%
  • The company has delivered a poor sales growth of 6.02% over past five years.
  • Company has a low return on equity of 4.33% for last 3 years.
  • Contingent liabilities of Rs.37334.37 Cr.
  • Debtor days have increased from 33.81 to 52.35 days.

Peer comparison

Sector: Steel Industry: Steel - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
15,908 16,732 15,842 18,492 14,821 14,129 16,542 16,172 9,068 16,925 19,836
13,326 14,359 13,257 16,270 13,232 12,961 15,537 9,736 9,465 15,023 14,755
Operating Profit 2,582 2,373 2,585 2,222 1,589 1,167 1,006 6,436 -398 1,902 5,080
OPM % 16% 14% 16% 12% 11% 8% 6% 40% -4% 11% 26%
Other Income -162 141 77 271 223 221 271 -369 327 468 386
Interest 755 771 825 803 788 940 849 909 886 720 670
Depreciation 814 826 855 890 873 901 926 1,055 973 990 981
Profit before tax 851 917 982 799 150 -453 -499 4,103 -1,930 660 3,815
Tax % 35% 33% 35% 31% 32% 37% 31% 35% 36% 34% 62%
Net Profit 552 610 639 548 103 -286 -344 2,648 -1,226 437 1,468
EPS in Rs 1.34 1.48 1.55 1.33 0.25 -0.69 -0.83 6.41 -2.97 1.06 3.55

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
43,156 40,507 43,347 46,601 44,891 46,804 46,032 38,793 44,210 57,496 66,973 61,664 62,001
34,565 31,141 35,507 40,432 39,982 42,524 41,304 41,635 44,094 53,619 57,167 51,400 48,980
Operating Profit 8,590 9,366 7,840 6,169 4,910 4,279 4,728 -2,842 115 3,878 9,807 10,265 13,021
OPM % 20% 23% 18% 13% 11% 9% 10% -7% 0% 7% 15% 17% 21%
Other Income 2,541 2,837 1,719 1,884 923 1,949 979 432 378 1,484 283 280 813
Interest 264 474 572 1,085 846 1,047 1,555 2,300 2,528 2,823 3,155 3,487 3,185
Depreciation 1,334 1,430 1,603 1,686 1,527 1,836 1,907 2,404 2,682 3,066 3,385 3,756 4,000
Profit before tax 9,533 10,299 7,384 5,282 3,460 3,346 2,245 -7,114 -4,716 -527 3,549 3,302 6,648
Tax % 34% 33% 32% 32% 33% 21% 14% 41% 42% 47% 34% 36%
Net Profit 6,245 6,851 5,014 3,594 2,329 2,652 2,035 -4,176 -2,756 -281 2,349 2,121 3,326
EPS in Rs 8.70 5.64 6.42 4.93 -10.11 -6.67 -0.68 5.69 5.13 8.05
Dividend Payout % 17% 20% 20% 23% 35% 31% 41% 0% 0% 0% 9% 0%
Compounded Sales Growth
10 Years:4%
5 Years:6%
3 Years:12%
TTM:-3%
Compounded Profit Growth
10 Years:-9%
5 Years:5%
3 Years:45%
TTM:6149%
Stock Price CAGR
10 Years:-1%
5 Years:27%
3 Years:24%
1 Year:408%
Return on Equity
10 Years:3%
5 Years:-1%
3 Years:4%
Last Year:6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
4,130 4,130 4,130 4,131 4,131 4,131 4,131 4,131 4,131 4,131 4,131 4,131 4,131
Reserves 24,315 29,613 33,470 36,145 37,511 39,151 39,610 36,021 32,912 32,816 35,516 37,380 36,508
Borrowings 8,691 17,638 20,475 17,405 22,539 26,020 32,146 35,141 41,396 45,409 45,170 54,127 47,454
18,920 19,283 20,189 20,989 22,509 24,770 26,963 26,234 29,405 33,339 33,385 31,560 34,506
Total Liabilities 56,055 70,664 78,265 78,669 86,689 94,072 102,849 101,527 107,843 115,694 118,201 127,198 122,599
12,651 15,109 16,609 18,796 18,384 28,175 39,011 45,942 50,300 58,625 61,374 69,034 67,694
CWIP 7,903 15,309 22,422 28,328 36,161 33,958 29,328 24,927 23,275 18,395 16,014 8,753 8,756
Investments 37 45 61 69 73 91 61 2,280 2,475 2,629 2,975 3,240 3,248
35,464 40,201 39,174 31,477 32,071 31,847 34,450 28,377 31,792 36,044 37,838 46,170 42,901
Total Assets 56,055 70,664 78,265 78,669 86,689 94,072 102,849 101,527 107,843 115,694 118,201 127,198 122,599

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
6,182 5,097 2,438 1,668 2,823 6,313 2,579 4,043 2,160 6,164 7,215 -618
-4,637 -8,257 -9,131 -7,670 -8,317 -7,488 -6,292 -4,805 -5,467 -6,480 -3,694 -4,261
3,045 7,359 1,721 -5,084 3,009 1,017 3,775 743 3,302 269 -3,549 5,003
Net Cash Flow 4,589 4,199 -4,972 -11,087 -2,485 -158 63 -20 -5 -47 -28 125

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 31% 24% 14% 11% 7% 5% 5% -6% -2% 3% 9% 8%
Debtor Days 26 33 34 38 37 43 26 30 24 25 25 52
Inventory Turnover 2.45 2.20 2.29 2.20 1.56 1.55 1.33 1.40 1.73 2.26 1.94 1.37

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 65.00
3.71 3.52 3.94 4.10 3.87 3.74 3.57 2.91 2.81 3.23 4.16 4.32
16.68 16.95 15.94 14.90 15.35 14.38 14.69 14.58 14.12 13.65 12.91 16.63
0.04 0.04 0.05 0.05 0.05 0.05 0.06 0.06 0.06 0.06 0.07 0.07
4.57 4.49 5.08 5.95 5.73 6.83 6.68 7.45 8.02 8.06 7.86 13.99

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