Steel Authority of India Limited — Investor Meet, 01-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

SAIL reported strong Q1 FY26 operational performance, with saleable steel production up 12% to 4.7 million tons and sales volumes up 15% to 4.55 million tons, a best-ever Q1. Profit Before Tax (PBT) surged 2.7x to ₹890 Cr (pre-exceptional). Borrowings decreased by ₹1,100 Cr. While efficiencies improved, Q1 absorbed a one-time ~₹1,050 Cr stock valuation impact from lower production costs, not expected in Q2. The company achieved ₹1,642 Cr in Q1 capex towards its ₹7,500 Cr FY26 target. Major expansion at IISCO Steel Plant (4.5 million tons) is planned, with significant capex beginning FY27. Management expressed confidence in India's strong steel demand and positive market outlook.