SALSTEEL
S.A.L. Steel financials
- Market cap
- ₹1.1k Cr
- Sector
- Metals & Mining
Quarterly results
Q1 FY27: revenue down 31.6%, net profit up 132.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 124 | 194 | 117 | 128 | 66 −47% | 2 −99% | 12 −90% | 87 −32% |
| EBITDA | 6 | 12 | -0 | -5 | 13 +121% | -0 −100% | 7 +4820% | 14 +355% |
| Net profit | 0 | -1 | -6 | -10 | 4 +6117% | 7 +1075% | -1 +83% | 3 +132% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +152.5% 1Y
1Y: ₹29.63 on 10 Sept 2025 → ₹74.81. High ₹82.43 (1 Sept 2026), low ₹26.65 (14 Oct 2025).
Financials, as filed
Revenue fell 40.2% a year over 2 years, FY24 to FY26. Operating margin widened to 7.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹580 Cr | ₹545 Cr | ₹208 Cr |
| Operating profit | ₹23 Cr | ₹24 Cr | ₹15 Cr |
| Operating margin | 4.0% | 4.4% | 7.1% |
| Interest | ₹13 Cr | ₹16 Cr | ₹20 Cr |
| Depreciation | ₹10 Cr | ₹11 Cr | ₹11 Cr |
| Net profit | ₹0 Cr | ₹-6 Cr | ₹-0 Cr |
| Net margin | 0.1% | -1.2% | -0.2% |
| Cash from operations | ₹26 Cr | ₹-21 Cr | ₹-84 Cr |
| Free cash flow | ₹26 Cr | ₹-40 Cr | ₹-259 Cr |
| ROCE | 8.0% | 7.0% | 1.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹85 Cr | ₹85 Cr | ₹85 Cr | ₹85 Cr | ₹85 Cr | ₹145 Cr |
| Reserves | ₹-59 Cr | ₹-47 Cr | ₹-43 Cr | ₹-43 Cr | ₹-52 Cr | ₹2 Cr |
| Borrowings | ₹146 Cr | ₹124 Cr | ₹125 Cr | ₹125 Cr | ₹198 Cr | ₹349 Cr |
| Other liabilities | ₹123 Cr | ₹129 Cr | ₹110 Cr | ₹117 Cr | ₹69 Cr | ₹126 Cr |
| Total liabilities | ₹295 Cr | ₹291 Cr | ₹277 Cr | ₹284 Cr | ₹300 Cr | ₹621 Cr |
| Fixed assets | ₹155 Cr | ₹146 Cr | ₹136 Cr | ₹143 Cr | ₹145 Cr | ₹142 Cr |
| Capital work in progress | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹1 Cr | ₹21 Cr | ₹174 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹139 Cr | ₹144 Cr | ₹137 Cr | ₹140 Cr | ₹134 Cr | ₹306 Cr |
| Total assets | ₹295 Cr | ₹291 Cr | ₹277 Cr | ₹284 Cr | ₹300 Cr | ₹621 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +20.42 pp while the public trimmed −20.28 pp. The shareholder count shrank 15% to 53,818.
- Promoters
- 71.0%
- Public
- 29.0%
Since Jun 2025
- Promoters +20.42 pp
- Public −20.28 pp
- FIIs −0.15 pp
How it drifted, 12 quarters
Over this window the public fell from 49.4% to 29.0% — −20.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 50.6%, Public 49.4%.Dec '23: Promoters 50.6%, Public 49.4%.Mar '24: Promoters 50.6%, Public 49.4%.Jun '24: Promoters 50.6%, Public 49.4%.Sep '24: Promoters 50.6%, FIIs 0.1%, Public 49.4%.Dec '24: Promoters 50.6%, FIIs 0.1%, Public 49.4%.Mar '25: Promoters 50.6%, Public 49.4%.Jun '25: Promoters 50.6%, FIIs 0.1%, Public 49.3%.Sep '25: Promoters 50.6%, Public 49.4%.Dec '25: Promoters 61.5%, Public 38.5%.Mar '26: Promoters 71.0%, Public 29.0%.Jun '26: Promoters 71.0%, Public 29.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Vora Financial Services Pvt Ltd +0.77 pp 4.86% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of S.A.L. Steel Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sree Metaliks Limited | 57.51% | unchanged |
| Shah Alloys Limited | 13.47% | unchanged |
| Vora Financial Services Pvt Ltd | 4.86% | +0.77 pp |
| Jmp Securities Private Limited | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse S.A.L. Steel Limited
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