S.A.L. Steel quarterly results and financials

S.A.L. Steel (SALSTEEL)₹90.08−5.00%(9 Nov 2026 close)Sponge Iron

Key facts

In the Mar 2026 quarter (standalone), S.A.L. Steel reported sales of ₹12.01 Cr, down 89.8% from Mar 2025, and net profit of −₹1.03 Cr. For the year to Mar 2026, sales were ₹209 Cr and net profit ₹0 Cr.

Sales (Mar 2026): ₹12.01 Cr
Net profit (Mar 2026): −₹1.03 Cr
Sales (FY Mar 2026): ₹209 Cr
Net profit (FY Mar 2026): ₹0 Cr
EPS (Mar 2026): ₹−0.06
Borrowings (Mar 2026): ₹349 Cr

Company filings, standalone accounts; latest reported quarter Mar 2026

S.A.L. Steel quarterly results

₹ crore unless stated; each column is a quarter.

S.A.L. Steel Quarterly results
	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	154	157	130	140	111	124	194	117	128	65.86	2.21	12.01
Expenses	148	151	128	130	105	118	182	117	133	52.88	2.24	4.89
Operating Profit	5.62	5.75	2.26	9.27	5.96	5.85	12.04	−0.14	−5.30	12.92	−0.02	7.06
OPM %	3.7%	3.7%	1.8%	6.7%	5.4%	4.8%	6.3%	−0.1%	−4.2%	19.8%	−1.4%	59.3%
Other Income	0.00	0.00	0.00	0.00	0.00	0.00	−4.14	0.00	0.00	0.00	16.04	0.00
Interest	3.15	3.21	3.23	3.18	3.19	3.23	4.88	5.11	4.94	5.15	5.69	4.58
Depreciation	2.37	2.39	2.37	2.45	2.59	2.54	2.57	2.83	2.68	2.69	2.68	2.78
Profit before tax	0.13	0.18	−3.34	3.68	0.21	0.11	0.49	−8.10	−12.95	5.14	7.71	−0.28
Tax %	16.7%	17.6%	−25.5%	26.4%	20.0%	40.0%	241.7%	−26.2%	−25.2%	27.3%	13.9%	277.8%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	−3.01	0.00	0.00	0.00	15.02	0.00
Net Profit	0.11	0.15	−2.47	2.71	0.15	0.05	−0.69	−5.96	−9.69	3.74	6.64	−1.03
EPS (Rs)	0.00	0.01	−0.28	0.31	0.01	0.00	−0.07	−0.69	−1.13	0.43	0.60	−0.06

S.A.L. Steel profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

S.A.L. Steel Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	328	362	447	573	409	302	507	497	578	545	209	208
Expenses	305	352	441	563	426	301	510	488	555	522	193	193
Operating Profit	22.90	9.96	5.98	8.97	−17.93	0.00	−3.98	7.97	20.94	22.90	14.94	14.66
OPM %	7.0%	2.7%	1.4%	1.6%	−4.5%	−0.1%	−0.7%	1.7%	3.7%	4.3%	7.0%	7.0%
Other Income	−30.87	1.99	65.76	−18.92	43.84	21.91	28.87	13.96	1.99	−2.99	15.93	16.04
Interest	12.03	1.01	1.01	2.01	2.01	0.00	0.00	8.02	13.02	17.04	20.05	20.36
Depreciation	7.99	7.99	7.99	7.99	7.99	8.99	8.99	9.99	9.98	10.99	10.98	10.83
Profit before tax	−29.01	4.01	64.02	−19.02	17.02	12.01	16.01	6.01	1.01	−7.01	0.00	−0.38
Tax %	0.0%	75.0%	34.0%	16.0%	7.0%	7.0%	29.0%	36.0%	26.0%	−12.0%	−10.0%	—
Exceptional items	−32.02	0.00	42.05	−17.01	0.00	0.00	0.00	0.00	0.00	−4.01	16.02	15.02
Net Profit	−29.03	0.99	41.99	−22.01	16.01	12.01	12.01	4.01	0.00	−5.99	0.00	−0.34
EPS (Rs)	−3.38	0.09	4.98	−2.53	1.86	1.35	1.35	0.41	0.05	−0.75	−0.01	−0.16
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

S.A.L. Steel balance sheet

₹ crore, at each year end.

S.A.L. Steel Balance sheet
	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	85.38	85.35	85.32	85.32	85.27	85.26	85.36	85.29	85.29	85.34	85.37	146
Reserves	−90.70	−120	−124	−64.79	−85.77	−69.81	−58.82	−46.84	−42.85	−42.86	−45.84	1.99
Borrowings	121	85.84	172	175	170	161	146	124	125	125	178	349
Other Liabilities	172	198	161	86.75	114	139	123	129	110	117	122	127
Total Liabilities	287	250	296	282	283	314	295	291	277	284	338	622
Fixed Assets	147	140	133	128	126	118	155	146	136	143	151	142
CWIP	56.16	25.08	25.08	25.09	11.03	46.10	1.01	1.01	3.01	1.01	1.01	174
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	83.11	86.07	138	130	147	150	139	144	137	140	187	307
Inventories	32.03	29.06	60.08	76.15	32.02	20.03	32.03	49.08	59.08	50.09	100	233
Trade receivables	13.02	40.06	50.12	35.10	91.15	120	86.20	55.12	70.18	66.11	68.14	2.01
Cash & equivalents	0.99	0.99	0.99	1.99	0.00	0.99	0.99	1.99	0.99	0.99	0.00	0.00
Total Assets	287	250	296	282	283	314	295	291	277	284	338	622

S.A.L. Steel cash flow

₹ crore, for each year.

S.A.L. Steel Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	21.93	1.99	−5.98	6.97	−3.98	53.83	23.91	21.91	7.97	25.91	−20.92	−83.61
Cash from investing activity	0.00	−0.99	−0.99	−2.99	7.98	−34.95	−0.99	0.00	−1.99	−12.97	−17.96	−175
Cash from financing activity	−22.09	−1.01	7.03	−3.01	−6.02	−18.05	−22.09	−22.08	−7.03	−13.04	39.14	260
Net cash flow	0.00	0.00	0.00	1.01	−2.01	0.00	1.01	0.00	−1.01	0.00	0.00	0.00
Capex	0.00	2.01	1.01	3.01	6.01	0.00	1.01	0.00	0.00	0.00	0.00	175
Free cash flow	22.04	0.00	−6.01	4.01	4.01	18.05	23.03	22.05	8.01	26.06	−21.05	−259
CFO / OP %	84.1%	8.0%	−61.0%	108.0%	−44.0%	−295.0%	−8,893.0%	−729.0%	126.1%	123.0%	−91.0%	−574.0%

S.A.L. Steel ratios

Working-capital days and returns, by year.

S.A.L. Steel Ratios
	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	12	44	50	27	57	106	103	39	50	41	44	2
Inventory days	42	47	91	84	27	21	55	46	56	39	80	542
Days payable	34	38	44	30	43	75	111	46	28	32	17	58
Cash conversion cycle	23	56	100	84	44	55	51	42	82	51	111	489
Working capital days	−216	−228	−43	35	23	10	8	−71	32	25	19	293
ROCE %	10.1%	18.1%	5.0%	1.0%	2.0%	11.1%	7.1%	10.1%	8.1%	8.0%	7.0%	1.0%

S.A.L. Steel: frequently asked questions

What are the latest quarterly results of S.A.L. Steel?

For the Mar 2026 quarter, S.A.L. Steel reported sales of ₹12.01 Cr, down 89.8% year on year and net profit of −₹1.03 Cr. The operating margin was 59.3%.

What is the annual revenue of S.A.L. Steel?

S.A.L. Steel's sales for the year to Mar 2026 were ₹209 Cr; over the last twelve months they were ₹208 Cr.

What is the net profit of S.A.L. Steel?

Net profit for the year to Mar 2026 was ₹0 Cr, and −₹0.34 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−0.16.

How much debt does S.A.L. Steel have?

S.A.L. Steel reported borrowings of ₹349 Cr at Mar 2026, against cash and equivalents of ₹0 Cr.

What is the free cash flow of S.A.L. Steel?

Cash from operations was −₹83.61 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹259 Cr.

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