S.A.L Steel Ltd

₹ 59.6 4.87%

29 May - close price

salsteel.co.in BSE: 532604 NSE: SALSTEEL

About

Incorporated in 2003, SAL Steel Ltd does manufacturing of Sponge Iron, Ferro Alloys and Power^[1]

Key Points

Product Profile:^[1]
SSL is a Steel, Ferro Alloys and Power Company having operations near Kandla Port in Gujarat. It deals in:
a) Direct Reduced Iron (DRI/Sponge Iron)
b) Ferro Alloys
c) Iron Ore pellets
d) Various finished steel products

Website BSE NSE - BE

Market Cap ₹ 863 Cr.
Current Price ₹ 59.6
High / Low ₹ 64.7 / 14.4
Stock P/E
Book Value ₹ 10.1
Dividend Yield 0.00 %
ROCE 1.08 %
ROE -17.7 %
Face Value ₹ 10.0

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Pros

Promoter holding has increased by 9.51% over last quarter.

Cons

Stock is trading at 5.88 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -7.16% over past five years.
Company has a low return on equity of -10.4% over last 3 years.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.16.1 Cr.
Working capital days have increased from 112 days to 293 days

* 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

Commodities Metals & Mining Ferrous Metals Sponge Iron

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	112.31	153.64	157.00	129.53	139.46	110.71	123.52	193.82	116.94	127.68	65.73	2.20	11.97
	106.52	148.00	151.23	127.26	130.16	104.73	117.65	181.73	117.09	133.00	52.76	2.23	4.88
Operating Profit	5.79	5.64	5.77	2.27	9.30	5.98	5.87	12.09	-0.15	-5.32	12.97	-0.03	7.09
OPM %	5.16%	3.67%	3.68%	1.75%	6.67%	5.40%	4.75%	6.24%	-0.13%	-4.17%	19.73%	-1.36%	59.23%
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-4.16	0.00	0.00	0.00	16.09	0.00
Interest	3.30	3.14	3.20	3.22	3.17	3.18	3.22	4.87	5.10	4.93	5.14	5.67	4.57
Depreciation	2.39	2.38	2.40	2.38	2.46	2.60	2.55	2.58	2.84	2.69	2.70	2.69	2.79
Profit before tax	0.10	0.12	0.17	-3.33	3.67	0.20	0.10	0.48	-8.09	-12.94	5.13	7.70	-0.27
Tax %	220.00%	16.67%	17.65%	-25.53%	26.43%	20.00%	40.00%	241.67%	-26.21%	-25.19%	27.29%	13.90%	277.78%
	-0.12	0.10	0.14	-2.48	2.70	0.16	0.06	-0.68	-5.97	-9.68	3.73	6.63	-1.02
EPS in Rs	-0.01	0.01	0.02	-0.29	0.32	0.02	0.01	-0.08	-0.70	-1.14	0.44	0.61	-0.07
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	363	327	361	446	571	408	301	505	496	577	544	208
	337	304	351	440	562	426	301	509	487	555	521	193
Operating Profit	26	23	10	6	9	-18	-0	-4	8	21	23	15
OPM %	7%	7%	3%	1%	2%	-4%	-0%	-1%	2%	4%	4%	7%
	-47	-31	2	66	-19	44	22	29	14	2	-3	16
Interest	30	12	1	1	2	2	0	0	8	13	17	20
Depreciation	9	8	8	8	8	8	9	9	10	10	11	11
Profit before tax	-59	-29	4	64	-19	17	12	16	6	1	-7	-0
Tax %	28%	0%	75%	34%	16%	7%	7%	29%	36%	26%	-12%	-10%
	-76	-29	1	42	-22	16	12	12	4	0	-6	-0
EPS in Rs	-8.93	-3.39	0.10	4.99	-2.54	1.87	1.36	1.36	0.42	0.06	-0.76	-0.02
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-4%
5 Years:	-7%
3 Years:	-25%
TTM:	-62%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-624%

Stock Price CAGR
10 Years:	37%
5 Years:	66%
3 Years:	55%
1 Year:	229%

Return on Equity
10 Years:	%
5 Years:	-1%
3 Years:	-10%
Last Year:	-18%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	85	85	85	85	85	85	85	85	85	85	85	145
Reserves	-91	-120	-124	-65	-86	-70	-59	-47	-43	-43	-46	2
	121	86	172	175	170	161	146	124	125	125	178	349
	172	199	162	87	114	139	123	129	110	117	122	126
Total Liabilities	287	250	296	282	283	314	295	291	277	284	338	621
	147	140	133	128	126	118	155	146	136	143	151	142
CWIP	56	25	25	25	11	46	1	1	3	1	1	174
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	83	86	138	130	147	150	139	144	137	140	187	306
Total Assets	287	250	296	282	283	314	295	291	277	284	338	621

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	22	2	-6	7	-4	54	24	22	8	26	-21
	0	-1	-1	-3	8	-35	-1	0	-2	-13	-18
	-22	-1	7	-3	-6	-18	-22	-22	-7	-13	39
Net Cash Flow	0	-0	0	1	-2	0	1	0	-1	0	-0
Free Cash Flow	22	0	-6	4	4	18	23	22	8	26	-21
CFO/OP	84%	8%	-61%	108%	-44%	-295%	-8,893%	-729%	126%	123%	-91%

Ratios

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	13	45	51	28	58	107	104	40	51	42	45	3
Inventory Days	43	48	92	85	28	22	56	47	57	40	81	543
Days Payable	34	38	44	30	43	75	111	46	28	32	17	58
Cash Conversion Cycle	22	55	99	83	43	54	50	41	81	50	110	488
Working Capital Days	-216	-228	-43	35	23	10	8	-71	32	25	19	293
ROCE %	10%	18%	5%	1%	2%	11%	7%	10%	8%	8%	7%	1%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Ferro Chrome Production Volume
MT

x,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx
xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xxx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx.xx	x.xx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
		xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
		xx	xx	xx	xx	xx	xx	xx	xx	xx	xx
				x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx

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Power Generation (Captive/Sold)
MWH

Sponge Iron Production Volume
MT

Permanent Employee Count
Numbers

Power Plant Installed Capacity
MW

Power Cost (Own Generation)
INR/Unit

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	61.47%	70.98%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.05%	0.00%	0.15%	0.00%	0.00%	0.00%
	49.44%	49.44%	49.43%	49.44%	49.43%	49.36%	49.38%	49.44%	49.29%	49.44%	38.53%	29.01%
No. of Shareholders	42,111	43,284	55,589	69,413	66,360	65,097	63,904	64,486	63,565	60,884	57,124	55,132

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	50.56%	70.98%
	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	49.43%	49.43%	49.44%	49.44%	49.44%	49.44%	49.44%	49.44%	49.44%	29.01%
No. of Shareholders	28,231	26,765	25,614	25,144	25,207	42,958	41,905	69,413	64,486	55,132

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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S.A.L Steel Ltd

S.A.L Steel Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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