Steel Authority of India Limited — Investor Meet, 20-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Steel Authority of India Limited reported strong FY26 financials with 11% sales volume growth to 19.9 MnT, achieving ~INR 110,000 Cr turnover (+8%) and PAT up 51%. Debt was significantly reduced by INR 8,150 Cr, and the balance sheet is now clean. Q4 FY26 also saw robust 43% PAT growth on a 5% turnover rise to INR 30,541 Cr. For FY27, a sales volume target of 22 MnT (SAIL-only) and crude steel production of 22.5 MnT is set, driven by operational efficiencies. Capex guidance is INR 15,000 Cr for FY27, rising in subsequent years for expansion projects at IISCO, Bokaro, and Bhilai. This capex is largely aimed to be funded through internal accruals. Focus remains on cost reduction and profitability amid higher coking coal costs, with current blended NSR up to INR 57,000/ton supporting margins. Management conveys a confident outlook on sustained performance.