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 ₹ 35,502 Cr.
- Current Price ₹ 86.0
- High / Low ₹ 112 / 63.6
- Stock P/E 7.47
- Book Value ₹ 131
- Dividend Yield 10.2 %
- ROCE 23.8 %
- ROE 25.2 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.66 times its book value
- Stock is providing a good dividend yield of 10.2%.
- Company has delivered good profit growth of 47.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.1%
- Debtor days have improved from 37.4 to 16.8 days.
Cons
- Contingent liabilities of Rs.42,323 Cr.
- Company might be capitalizing the interest cost
- 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
43,347 | 46,601 | 44,891 | 46,804 | 46,032 | 38,793 | 44,210 | 57,496 | 66,973 | 61,664 | 69,114 | 103,477 | 106,281 | |
35,649 | 40,432 | 39,982 | 42,646 | 41,217 | 41,628 | 44,094 | 52,788 | 57,167 | 51,400 | 56,337 | 82,114 | 95,505 | |
Operating Profit | 7,697 | 6,169 | 4,910 | 4,157 | 4,815 | -2,834 | 115 | 4,708 | 9,807 | 10,264 | 12,776 | 21,363 | 10,776 |
OPM % | 18% | 13% | 11% | 9% | 10% | -7% | 0% | 8% | 15% | 17% | 18% | 21% | 10% |
1,862 | 1,884 | 923 | 2,071 | 892 | 425 | 378 | 654 | 283 | 280 | 1,349 | 902 | 1,320 | |
Interest | 572 | 1,085 | 846 | 1,047 | 1,555 | 2,300 | 2,528 | 2,823 | 3,155 | 3,487 | 2,817 | 1,698 | 1,636 |
Depreciation | 1,603 | 1,686 | 1,527 | 1,836 | 1,907 | 2,404 | 2,682 | 3,066 | 3,385 | 3,756 | 4,103 | 4,275 | 4,571 |
Profit before tax | 7,384 | 5,282 | 3,460 | 3,346 | 2,245 | -7,114 | -4,716 | -527 | 3,549 | 3,302 | 7,206 | 16,292 | 5,889 |
Tax % | 32% | 32% | 33% | 21% | 14% | 41% | 42% | 47% | 34% | 36% | 42% | 25% | |
Net Profit | 5,014 | 3,594 | 2,329 | 2,652 | 1,939 | -4,176 | -2,756 | -281 | 2,349 | 2,121 | 4,148 | 12,243 | 4,483 |
EPS in Rs | 8.70 | 5.64 | 6.42 | 4.93 | -10.11 | -6.67 | -0.68 | 5.69 | 5.13 | 10.04 | 29.64 | 10.85 | |
Dividend Payout % | 20% | 23% | 35% | 31% | 41% | 0% | 0% | 0% | 9% | 0% | 28% | 30% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 19% |
3 Years: | 16% |
TTM: | 17% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | 48% |
3 Years: | 68% |
TTM: | -64% |
Stock Price CAGR | |
---|---|
10 Years: | 0% |
5 Years: | 0% |
3 Years: | 21% |
1 Year: | -18% |
Return on Equity | |
---|---|
10 Years: | 5% |
5 Years: | 10% |
3 Years: | 14% |
Last Year: | 25% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4,130 | 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 | 33,470 | 36,145 | 37,511 | 39,151 | 39,610 | 36,021 | 32,912 | 32,816 | 35,516 | 37,380 | 41,276 | 50,081 | 49,905 |
20,475 | 17,405 | 22,539 | 26,020 | 32,146 | 35,141 | 41,396 | 45,409 | 45,170 | 54,127 | 37,677 | 17,284 | 31,369 | |
20,189 | 20,989 | 22,509 | 24,770 | 26,963 | 26,234 | 29,405 | 33,339 | 33,385 | 31,560 | 35,007 | 48,885 | 44,927 | |
Total Liabilities | 78,265 | 78,669 | 86,689 | 94,072 | 102,849 | 101,527 | 107,843 | 115,694 | 118,201 | 127,198 | 118,090 | 120,381 | 130,332 |
16,609 | 18,796 | 18,384 | 28,175 | 39,011 | 45,942 | 50,300 | 58,625 | 61,374 | 69,034 | 67,618 | 73,677 | 72,521 | |
CWIP | 22,422 | 28,328 | 36,161 | 33,958 | 29,328 | 24,927 | 23,275 | 18,395 | 16,014 | 8,753 | 8,881 | 4,017 | 4,155 |
Investments | 61 | 69 | 73 | 91 | 61 | 2,280 | 2,475 | 2,629 | 2,975 | 3,240 | 3,442 | 3,757 | 8,676 |
39,174 | 31,477 | 32,071 | 31,847 | 34,450 | 28,377 | 31,792 | 36,044 | 37,838 | 46,170 | 38,149 | 38,930 | 44,980 | |
Total Assets | 78,265 | 78,669 | 86,689 | 94,072 | 102,849 | 101,527 | 107,843 | 115,694 | 118,201 | 127,198 | 118,090 | 120,381 | 130,332 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,438 | 1,668 | 2,823 | 6,313 | 2,579 | 4,043 | 2,160 | 6,164 | 7,215 | -618 | 23,430 | 30,987 | |
-9,131 | -7,670 | -8,317 | -7,488 | -6,292 | -4,805 | -5,467 | -6,480 | -3,694 | -4,261 | -3,295 | -3,976 | |
1,721 | -5,084 | 3,009 | 1,017 | 3,775 | 743 | 3,302 | 269 | -3,549 | 5,003 | -19,808 | -27,398 | |
Net Cash Flow | -4,972 | -11,087 | -2,485 | -158 | 63 | -20 | -5 | -47 | -28 | 125 | 328 | -387 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 34 | 38 | 37 | 43 | 26 | 30 | 24 | 25 | 25 | 52 | 43 | 17 |
Inventory Days | 200 | 206 | 299 | 272 | 370 | 308 | 274 | 199 | 243 | 370 | 207 | 170 |
Days Payable | 56 | 49 | 63 | 56 | 77 | 82 | 90 | 87 | 89 | 97 | 107 | 145 |
Cash Conversion Cycle | 178 | 195 | 273 | 259 | 319 | 255 | 209 | 137 | 179 | 325 | 144 | 42 |
Working Capital Days | 43 | 58 | 76 | 50 | 48 | 10 | -8 | -10 | 7 | 75 | 16 | -19 |
ROCE % | 14% | 11% | 7% | 5% | 5% | -6% | -2% | 3% | 9% | 8% | 11% | 24% |
Documents
Announcements
- Closure of Trading Window 29 Dec 2022
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Announcement under Regulation 30 (LODR)-Credit Rating
29 Nov 2022 - Reaffirmation of SAIL Rating by Brickwork Ratings(BWR).
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 15 Nov 2022
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
15 Nov 2022 - Transcipt of conference call held with Analysts & Investors on 11th November, 2022
- Announcement under Regulation 30 (LODR)-Change in Directorate 13 Nov 2022
Annual reports
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Financial Year 2022
from bse
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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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
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Concalls
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Aug 2022TranscriptPPT
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May 2022TranscriptPPT
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Jun 2018TranscriptPPT
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]